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Indices trade sideways with major gains

Published on Mar 10, 2022 12:32

Equity indices traded sideways with robust gains in early afternoon trade, supported by strength in banks, auto and financial services scrips. All the sectoral indices on the NSE were in the green.

At 12:30 IST, the barometer index, the S&P BSE Sensex, surged 1,235.14 points or 2.26% at 55,882.95. The Nifty 50 index gained 358.75 points or 2.19% at 16,704.20.

In the broader market, the S&P BSE Mid-Cap index added 1.75% while the S&P BSE Small-Cap index rose 2.03%.

The market breadth was strong. On the BSE, 2,727 shares rose and 528 shares fell. A total of 102 shares were unchanged.


The NSE`s India VIX, a gauge of market`s expectation of volatility over the near term, slumped 10.92% to 24.4675. The Nifty 24 February 2022 futures were trading at 16,719.95, at a premium of 9 points as compared with the spot at 16,710.95.

The Nifty option chain for 31 March 2022 expiry showed maximum Call OI at 17,000 strike price. Maximum Put OI contracts were seen at 16,000 strike price.

Buzzing Index:

The Nifty Realty index added 3.75% to 434.55. The index has surged 10.39% in three days.

Phoenix Mills (up 5.5%), DLF (up 4.65%), Oberoi Realty (up 4.63%), Prestige Estates Projects (up 4.47%) and Sobha (up 3.71%) were the top gainers. Among the other gainers were Brigade Enterprises (up 2.57%), Indiabulls Real Estate (up 2.33%), Sunteck Realty (up 2.17%), Godrej Properties (up 2.1%) and Macrotech Developers (up 0.91%) surged.

Stocks in Spotlight:

A2Z Infra Engineering hit an upper circuit limit of 5% at Rs 10.48 after the company said it bagged a contract worth about Rs 91 crore from North Delhi Municipal Corporation. The contract is for providing Facility Management Services (FMS) for Dr. S.P.M. Civic Centre at JLN Marg for the period of three years (2021-24). The aggregate amount for the said contract is Rs 90,91,88,451.

Karnataka Bank surged 2.53%. The bank announced the signing of a memorandum of understanding (MoU) with SELCO Solar Light for financing solar based livelihood products to its customers. SELCO Solar Light is engaged in the business of designing, assembling, selling, and servicing solar energy products. Under the agreement, Karnataka Bank would provide financial support to individuals, HUF, farmers, traders, businessmen, proprietorship concerns, professionals, salaried persons, institutions, etc. to purchase the solar energy products of SELCO Solar Light in India.


The elections of the five states - Goa, Manipur, Punjab, Uttar Pradesh and Uttarakhand - were held in seven phases between 10 February 2022 to 7 March 2022.

So far, the ruling Bhartiya Janata Party (BJP) is leading in Uttar Pradesh (UP), Goa, Manipur and Uttarakhand. In Punjab, Aam Admi Party (AAP) all set to dethrone the incumbent Indian National Congress (INC).

In UP, BJP under CM Yogi Adityanath is all set to sweep the elections again, as the party currently leads on 249 seats while former CM Akhilesh Yadav`s Samajwadi Party (SP) currently leads with 112 seats grabbing the second position as of now.

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