Mumbai, First Published Mar 14, 2022, 3:43 PM IST
MUMBAI: The National Stock Exchange (BSE) traded higher today on the first day of the week. The Sensex was up 900 points and the Nifty was up 16,850 points.
Excitement
The gradual fall in oil prices over the past few days has brought comfort to investors who have been worried about rising crude oil prices. As the market price fell to $ 110 per barrel today, they continued to trade with enthusiasm since morning.
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Pet Bank
Investors are worried about whether the US Federal Reserve will raise interest rates on the 16th or whether the status quo will continue.
Two features
There are two key aspects to consider in the stock market today. First, the ban imposed by the Reserve Bank on HDFC Bank to start digital trading for the past two years was lifted yesterday. Thus HDFC Bank shares rose from morning.
BDM collapse
The 2nd BDM Payment Bank was banned by the Reserve Bank last Saturday from adding new customers. The RBI said the next order would be issued after the company conducts an IT audit. As a result, BDM shares fell 13 percent to less than 700 rupees.
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Boom
At the start of trade, the Sensex was up 300 points at 55,850 and the Nifty was up 51 points at 16,681. The boom, which started in the morning, gradually increased. In the afternoon, trading was buoyant as investors eagerly bought shares in the banking and IT sectors
The Sensex ended 935 points higher at 56,486 on the Bombay Stock Exchange. At the National Stock Exchange, the Nifty was up 254 points at 16,884.
Profit
Shares of HDFC, Infosys, ICICI Bank, HDFC, SBI, Asian Paints, Tech Mahindra, Bajaj Pinserv and Wipro gained in the Sensex.
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Departments
Shares of Hindustan Unilever, HCL, Dr Reddy’s, Mahindra & Mahindra, Reliance, Powergrid, IOC, BBCL, Tata Motors, SBI Life and Bajaj Finance ended lower.
Banking, IT and media stocks gained as much as 2 per cent in the Nifty. Shares of automobile, real estate, metals, oil and gas fell.
Last Updated Mar 14, 2022, 3:49 PM IST