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Stock market highlights on March 6, 2024: The BSE benchmark hit a record high of 74,151, while the Nifty50 claimed 22,497 intraday

BSE, NSE, Sensex, Nifty, stock markets

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			<strong>Closing Bell on Wednesday, March 6:</strong> Equity benchmarks staged a smart recovery in the last hour of trade, helping these indices hit fresh record highs, amid a sharp swing in banking and financial shares. That apart, liquidity-related cues from China aided sentiment.</div>
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			China&#39;s central bank governor said there was room to further cut banks&#39; reserve requirements. This is part of Beijing&#39;s broader economic policy &quot;adjustments&quot; so the economy can hit its growth target of around 5 per cent for the year.</div>
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			The S&P BSE Sensex, which stayed in the negative zone for the better part of the day, closed 409 points, or 0.55 per cent, higher at 74,086 levels. The Nifty50, too, surpassed the 22,450-mark to end at 22,474, up 118 points or 0.53 per cent.</div>
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			The BSE benchmark hit a record high of 74,151, while the Nifty50 claimed 22,497 intraday.</div>
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			Kotak Bank, Axis Bank, Sun Pharma, Bharti Airtel, ICICI Bank, IndusInd Bank, HCL Tech, Titan, TCS, L&T, and M&M were the top gainers today, surging up to 2.45 per cent.&nbsp;</div>
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			In the broader markets, the BSE MidCap and the BSE SmallCap indices, however, stayed in the profit-booking zone with the indices down 0.65 per cent and 1.9 per cent , respectively.</div>
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			Among sectors, the Nifty Bank, and Private Bank indices gained 0.8 per cent each, followed by 0.6 per cent rise in the Nifty Financial Services index. On the downside, the Nifty Media index fell 2.5 per cent, the Nifty Realty index 1.3 per cent, and the Nifty Metal 0.5 per cent.&nbsp;</div>
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Sensex ends atop 74,000, Nifty 22,450 for 1st time; Smallcap index down 2%

Business Standard

Sensex ends atop 74,000, Nifty 22,450 for 1st time; Smallcap index down 2% | News on Markets - Business Standard

US equity futures hold in green after cash mkt losses

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Gift Nifty recoups early losses; suggests flat start

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Apple slips 3% to 4-month low as China iPhone sales drop

According to Counterpoint Research, iPhone&#39;s sales in the Chinese market declined 24 per cent in the first six weeks of 2024, and it ranked fourth behind three Chinese brands - Vivo, Huawei and Honor.

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Hang Seng defies weakness in Asia-pacific markets

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US stocks end lower for second day overnight

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Good morning readers! Catch all the live market updates here with Business Standard

Catch all the live market updates here with Business Standard

CLOSING BELL:: S&P BSE Sensex ends at a record high of 74,085, up 409 pts

Dollar Industries spurts 10%, hits 52-week high on heavy volumes

Average trading volume on the counter jumped over 10-fold today with a combined 1.08 million equity shares, representing 1.9% of total equity of Dollar Industries, changing hands on the NSE and BSE. <a href="https://www.business-standard.com/markets/news/dollar-industries-spurts-10-hits-52-week-high-on-heavy-volumes-124030600535_1.html?1709717268" target="_blank"><strong>READ MORE</strong></a><br />
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Motherson tanks 6% as promoter sells 4.4% stake; to dilute holding further

SWS said it intends to further dilute its remaining stake in Motherson over a medium to long term duration as the latter&#39;s diversified business lines are not its core areas of focus and expertise. <a href="https://www.business-standard.com/markets/news/motherson-tanks-6-as-promoter-sells-4-4-stake-to-dilute-holding-further-124030600530_1.html?1709717040" target="_blank"><strong>READ MORE</strong></a><br />
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Will pharma stocks continue their dream rally in FY25?

Stocks in the pharmaceutical sector have had a dream run so far in 2023-24 (FY24) with the Nifty Pharma index surging 58.2 per cent in this period against a dip of 11 per cent in FY23. <a href="https://www.business-standard.com/markets/news/will-pharma-stocks-continue-their-dream-rally-in-fy25-124030600460_1.html?1709714441" target="_blank"><strong>READ MORE</strong></a><br />
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Gold hits new high; Jewellery related shares fall up to 5% on demand worries

Gold futures scaled a new high of $2,150 in international markets on hopes of Fed rate cut; but domestic demand a concern for jewellers back home. <a href="https://www.business-standard.com/markets/news/gold-hits-new-high-jewellery-related-shares-dip-up-to-5-on-demand-worries-124030600375_1.html?1709710253" target="_blank"><strong>READ MORE</strong></a><br />
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This stock zoomed 164% in 2 months on plans of stock split; up 816% in FY24

Waaree Renewable Technologies has fixed March 16 as the record date for its proposed 1:5 stock split. <a href="https://www.business-standard.com/markets/news/this-stock-zoomed-164-in-2-months-on-plans-of-stock-split-up-816-in-fy24-124030600279_1.html?1709705383" target="_blank"><strong>READ MORE</strong></a><br />
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Indiabulls Real Estate dips 13% on MIDC order to vacate land in Nashik

The realty firm believes that the said order to be unlawful and was evaluating legal options to defend itself, including filing of an appeal in Court. <a href="https://www.business-standard.com/markets/news/indiabulls-real-estate-dips-13-on-midc-order-to-vacate-land-in-nashik-124030600396_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (pic: Reuters)" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2016-02/12/full/1455275142-7334.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 449px;" title="A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (pic: Reuters)" /></div>

Tata Chem soars 15% in 5 days, nears 52-wk high as Fitch revises outlook

Shares of Tata Chemicals (TCL) moved higher by 2 per cent to Rs 1,085, bouncing back nearly 4 per cent from its low of Rs 1,047.10, on the BSE in Wednesday&#39;s intraday trade amid heavy volumes in an otherwise a weak market. It was trading close to its 52-week high of Rs 1,140.95 touched on January 5, 2024. <a href="https://www.business-standard.com/markets/news/tata-chem-soars-15-in-5-days-nears-52-wk-high-as-fitch-revises-outlook-124030600372_1.html" target="_blank"><strong>Read</strong><br />
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SBI, BoI, IOB: 5 PSU bank stocks that look good on the technical charts

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	Shares of PSU Banks continue to hog the limelight on the bourses with sheer outperformance compared to the benchmark index. The NSE PSU Bank index has rallied over 28 per cent so far this calendar year as against a mere 2.8 per cent gain on the benchmark Nifty 50 index. <a href="https://www.business-standard.com/markets/news/sbi-boi-iob-5-psu-bank-stocks-that-look-good-on-the-technical-charts-124030600232_1.html" target="_blank"><strong>Read</strong><br />
	<img alt="PSU banks" src="https://bsmedia.business-standard.com/_media/bs/img/article/2017-10/25/full/1508956091-3912.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a></div>

Should you subscribe to Gopal Snacks IPO? Here's what analysts say

FMCG firm, Gopal Snacks initial public offering (IPO) has opened for subscription today and the window to subscribe will close on March 11. The company has garnered Rs 194 crores from anchor investors, the company notified the bourses on Tuesday. The company offers ethnic snacks, western snacks and other products in 10 States and 2 Union Territories. <a href="https://www.business-standard.com/markets/news/should-you-subscribe-to-gopal-snacks-ipo-here-s-what-analysts-say-124030600294_1.html" target="_blank"><strong>Read</strong><br />
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ALERT: Fairfax India to give up to $200 million liquidity support to IIFL Finance

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	RBI&#39;s embargo has raised liquidity concerns amongst the co&rsquo;s investors and lenders, it said. <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/1d915198-cd20-434b-a2f5-360169c0b09e.pdf" rel="nofollow" target="_blank"><strong>Read</strong></a></div>

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BSE SmallCap sinks 2%, MidCaps bleed too: IIFL Finance, MGL slump up to 20%

IIFL Finance, JM Financial, Mahanagar Gas, Indiabulls Real Estate, Bodal Chemicals, Mangalam Cement, Mannapuram Finance, NCL Industries, PNB Gilts and Capri Global Capital from the Smallcap index slipped over 5 per cent. <a href="https://www.business-standard.com/markets/news/bse-smallcap-sinks-2-midcaps-bleed-too-iifl-finance-mgl-slump-up-to-20-124030600191_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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JM Financial tanks 19% as RBI bars it from lending against shares, bonds

JMFPL is a subsidiary of JM Financial with assets under management (AUM) of Rs 7,197 crore. The company is focused on offering a broad suite of loan products, which are customised to suit the needs of corporates, institutions, SMEs and individuals. <a href="https://www.business-standard.com/markets/news/jm-financial-tanks-19-as-rbi-bars-it-from-lending-against-shares-bonds-124030600150_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Broader markets :: SmallCap index continues to underperform

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Sectoral trends :: IT, Media indices open 1% lower, financials hold mild gains

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Sensex Heatmap :: IT stocks extend weakness; Kotak Bank, L&T support

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Opening Bell :: Sensex falls nearly 200 pts in early deals

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ALERT :: RBI says Card issuers to provide option to customers to choose from multiple card networks

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Pre-Open Session :: Sensex hints at another tepid start

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Nifty Financial, Nifty PSU Bank on an uptrend: How should you trade?

The Nifty Financial Services Index, which last closed at 20,854, indicates a near-term bullish trend on charts. However, to confirm a positive breakout, investors should wait for the index to break above 20960 on a closing basis. <a href="https://www.business-standard.com/markets/news/nifty-financial-nifty-psu-bank-on-an-uptrend-how-should-you-trade-124030600040_1.html" target="_blank"><strong>Read</strong><br />
<img alt="Markets, bulls, bears, stocks, trading, technicals, market technical, technical analysis" src="https://bsmedia.business-standard.com/_media/bs/img/misc/2021-05/20/full/markets-bulls-bears-stocks-trading-technicals-market-technical-technical-analysis-1621493768-31062620.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a>

Breakout stocks: JK Lakshmi Cement, Karnataka Bank can zoom up to 8% ahead

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	JK Lakshmi Cement&#39;s stock price has broken out from the consolidation, which it held in last three weeks. Price breakout is accompanied with a jump in volumes. <a href="https://www.business-standard.com/markets/news/breakout-stocks-jk-lakshmi-cement-karnataka-bank-can-zoom-up-to-8-ahead-124030600048_1.html" target="_blank"><strong>Read</strong><br />
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Will JM Financial shares go the IIFL Finance way on Wednesday?

In-line with the fate of IIFL Finance, shares of JM Financial, too, may face selling pressure on Wednesday, March 6, as the Reserve Bank of India (RBI) has barred JM Financial Products Ltd (JMFPL) from giving loans against shares and debentures, including sanction and disbursal of loans against Initial Public Offering (IPO) of shares, with immediate effect. <a href="https://www.business-standard.com/markets/news/here-s-why-jm-financial-shares-are-eyeing-wobbly-wednesday-details-here-124030600061_1.html" target="_blank"><strong>Read</strong><br />
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Here's why you should keep BHEL shares on radar today, March 6

Shares of state-owned Bharat Heavy Electricals Ltd (BHEL) would be among the buzzing stocks on Wednesday, March 6, as it has bagged an order from power giant NTPC to set up a 1,600 MW Singrauli thermal power project (Stage-II). <a href="https://www.business-standard.com/markets/news/here-s-why-you-should-keep-bhel-shares-on-radar-today-march-6-124030600063_1.html" target="_blank"><strong>Read</strong><br />
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Stocks to watch: Wipro, JM Financials, JSW Energy, NHPC, Zomato, Aavas Fin

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	Amidst an ongoing tepid week at the markets, Wednesday may not be any different for investors. The Equity benchmark indices Sensex and Nifty may see a lower start today as weak global cues may guide investor sentiment. At 7:00 am, the Gift Nifty futures were down 23 points at 22,410.50 over Nifty futures&rsquo; last close. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-wipro-jm-financials-jsw-energy-nhpc-zomato-aavas-fin-124030600057_1.html" target="_blank"><strong>Read</strong><br />
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Will Zomato see block deals today, March 6? Check here

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	China&#39;s Ant Group&#39;s arm Antfin Singapore Holdings Pte is likely to sell up to 2 per cent stake (176.4 million shares) in Zomato for Rs 2,800 crore through a block deal, reports suggested on March 5.<br />
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	The floor price for the block deal has been fixed at Rs 159.4 per share, which represents a 4 per cent discount to current market price of Rs 166 on the BSE, the report added. <a href="https://www.business-standard.com/markets/news/will-zomato-see-block-deals-today-march-6-check-here-124030600064_1.html" target="_blank"><strong>Read</strong><br />
	<img alt="Zomato" src="https://bsmedia.business-standard.com/_media/bs/img/hp/home-page/2021-07/22/full/1626962915-929.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a></div>