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Nifty, Sensex hits record high; Consumer Durables shares rally for 3rd day

Published on Mar 02, 2024 11:44

The key equity indices hit an intraday high and traded with moderate gains in mid-morning trade. The Nifty marched above the 22,400 level. Consumer durables shares extended gains for third consecutive trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 145.12 points or 0.20% to 73,890.47. The Nifty 50 index added 63.10 points or 0.28% to 22,401.85.

The Sensex clocked an all-time high of 73,994.70 while the Nifty hit record high of 22,419.55 in mid- morning trade.

In the broader market, S&P BSE Mid-Cap rose 0.66% and the S&P BSE Small-Cap index added 0.64%.

The market breadth was strong. On the BSE, 2,338 shares rose and 912 shares fell. A total of 138 shares were unchanged.

The National Stock Exchange and Bombay Stock Exchange will hold a special live trading session today, 2 March 2024 in the equity and F&O segments with an intra-day switchover from the Primary site to the Disaster Recovery site. There will be two sessions � the first from 9:15 am to 10 am and the second from 11:30 am to 12:30 pm.


India`s Gross Goods and Services Tax (GST) revenue collected for February 2024 is Rs 1,68,337 crore, marking a robust 12.5% increase compared to that in the same month in 2023. This growth was driven by a 13.9% rise in GST from domestic transactions and 8.5% increase in GST from import of goods. GST revenue net of refunds for February 2024 is Rs 1.51 lakh crore which is a growth of 13.6% over that for the same period last year.

As of February 2024, the total gross GST collection for the current fiscal year stands at Rs 18.40 lakh crore, which is 11.7% higher than the collection for the same period in FY 2022-23. The average monthly gross collection for FY 2023-24 is Rs 1.67 lakh crore, exceeding the Rs 1.5 lakh crore collected in the previous year`s corresponding period. GST revenue net of refunds as of February 2024 for the current fiscal year is Rs 16.36 lakh crore which is a growth of 13.0% over that for the same period last year.

Buzzing Index:

The Nifty Consumer Durables index advanced 1.21% to 32,988.80. The index rallied 3.14% in the three trading sessions.

Havells India (up 3.76%), Voltas (up 2.64%), Amber Enterprises India (up 2.08%), Crompton Greaves Consumer Electricals (up 1.61%), V-Guard Industries (up 1.35%), Blue Star (up 1.03%), Rajesh Exports (up 0.98%), Orient Electric (up 0.79%), Whirlpool of India (up 0.76%) and Dixon Technologies (India) (up 0.66%) advanced.

Stocks in Spotlight:

Cipla rose 0.30%. The US Food & Drug Administration (USFDA) conducted a pre-approval inspection at the manufacturing facility of Cipla (Jiangsu) Pharmaceutical Co., located in Qidong, Jiangsu Province, China from 26 February 2024 to 1 March 2024. Cipla (Jiangsu) Pharmaceutical Co. is a subsidiary of the company. The inspection has been concluded with zero Form 483 observations, stated the drug maker.

ICICI Lombard General Insurance Company added 0.19%. The company said that the AM Best has affirmed the financial strength rating of �B++ (Good)� and the long-term issuer credit rating of �bbb+ (Good)� of the company.

Global Markets:

U.S. stocks rose on Friday, with the S&P 500 and Nasdaq closing at record highs, as technology stocks rallied on continued enthusiasm for artificial intelligence, with further support from declining Treasury yields.

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