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February 28, 2022 / 04:19 PM IST

Closing Bell: Nifty ends near 16,800, Sensex gains 388 pts led by power, metal, oil & gas stocks

Stock Market LIVE Updates: Among sectors, metal index up 5 percent, oil & gas index up 2 percent and power index up 1.5 percent, while bank, auto indices are trading in the red. BSE midcap and smallcap indices are up 0.5 percent each

  • Closing Bell: Nifty ends near 16,800, Sensex gains 388 pts led by power, metal, oil & gas stocks
    Stock Market Today:
    • 03:24 PM IST

      CLSA keeps buy rating on Bharti Airtel with a target at Rs 915

    • 03:20 PM IST

      BSE Capital Goods index up over 1 percent supported by the SKF India, Hindustan Aeronautics, Bharat Electronics

    • 03:16 PM IST

      Citi maintains buy on Bharti Airtel with a target at Rs 875 per share

    • 03:13 PM IST

      Oil soars as sanctions and pressures on Russia mount

    • 03:11 PM IST

      BSE Power index up 1 percent led by the Power Grid, Adani Transmission, BHEL

    • 03:06 PM IST

      Aurionpro Solutions subsidiary wins order in Costa Rica worth USD 225,000

    • 03:02 PM IST

      Benchmark indices trade at the day's high level

    • 02:55 PM IST

      Zen Technologies secures export order worth Rs 13.50 crore

    • 02:52 PM IST

      Ducon Infratechnologies announces bonus issue

    • 02:32 PM IST

      Jefferies keeps buy rating on Bharti Airtel, cut target price to Rs 860

    • 02:23 PM IST

      BSE Oil & Gas index rises 1 percent led by the GAIL, Petronet LNG, BPCL

    • 02:04 PM IST

      Benchmark indices trade marginally higher with Nifty around 16700

    • 01:58 PM IST

      Mumbai property registrations record highest daily average in last 11 months: Knight Frank India

    • 01:53 PM IST

      European stock markets sink at open

    • 01:30 PM IST

      Madhavi Puri appointed as SEBI chairperson

    • 12:47 PM IST

      Russian Ruble opens 8% lower at 90 per US dollar in Moscow

    • 12:30 PM IST

      Bank of Russia raises key rate to 20% from 9.5%

    • 12:29 PM IST

      Emkay Global retains buy rating on Mphasis, target price of Rs 3,650

    • 12:21 PM IST

      Nifty Metal up 3%, Hindalco, JSPL, Tata Steel and JSW Steel top gainers

    • 12:01 PM IST

      Sensex, Nifty recover, trade flat, metals rally

    • 11:56 AM IST

      Jefferies upgrades Gail India to buy from hold, target raised to Rs 170 from Rs 160 per share

    • 11:29 AM IST

      DGCA extends ban on regular commercial international passenger flights

    • 11:23 AM IST

      Unichem Laboratories gets US FDA nod for Divalproex Sodium Extended-Release tablets

    • 11:15 AM IST

      Defence Ministry signs Rs 1,075 crore contract with the company: Bharat Electronics

    • 10:51 AM IST

      Nifty Bank index falls 1 percent dragged by the Au Small Finance Bank, Axis Bank, HDFC Bank

    • 10:34 AM IST

      Biocon's arm to acquire Viatris’ biosimilars for $3.3 billion

    • 10:20 AM IST

      Nifty IT index declines 1 percent dragged by the HCL Technologies, Mphasis, Infosys

    • 10:14 AM IST

      Indian rupee opens 42 paise weaker at 75.71 per dollar

    • 10:06 AM IST

      Nifty Metal index rises over 1 percent supported by the Tata Steel, Hindalco Industries, Jindal Steel

    • 10:01 AM IST

      India reports less than 10,000 new COVID-19 cases as third wave ebbs

    • 09:51 AM IST

      Higher crude price, inflation to support gold prices: Nish Bhatt

    • 09:49 AM IST

      BSE Auto index slips 1 percent dragged by the TVS Motor, Tata Motors, Eicher Motors

    • 09:47 AM IST

      Rain Industries reports net loss at Rs 96.9 crore in the quarter ended December 2021

    • 09:43 AM IST

      Australia to send lethal weapons to Ukraine

    • 09:39 AM IST

      Petrol and diesel prices remained unchanged for more than 100 days

    • 09:35 AM IST

      Future Group stocks gain 6-15 percent after RIL takeover operations

    • 09:32 AM IST

      Gold set for best month since May as appeal surges on Ukraine crisis

    • 09:26 AM IST

      Petrol and diesel prices remained unchanged for more than 100 days

    • 09:16 AM IST

      Indices open on a negative note, Nifty below 16,500

    • 09:14 AM IST

      Bharti Airtel will be in focus on plans to acquire a 4.7% stake in Indus Towers

    • 09:11 AM IST

      Vodafone Idea in focus on likely capital infusion

    • 09:08 AM IST

      Indian markets are likely to open on a negative note: ICICI Direct

    • 08:59 AM IST

      Nifty has resistance at 17057 mark: Prashanth Tapse

    • 08:54 AM IST

      FPIs pull out Rs 35,506 crore in February

    • 08:50 AM IST

      Sovereign Gold Bond Scheme 2021-22 Series X opens for subscription today

    • 08:45 AM IST

      Biocon in focus on arm’s $3-billion acquisition

    • 08:42 AM IST

      Cabinet approves up to 20% FDI in LIC under automatic route

    • 08:34 AM IST

      Govt to provide bulk of Rs 15,000 crore capital support to weak PSU banks

    • 08:21 AM IST

      Euro slides with US stock futures as Ukraine risks rise

    • 08:15 AM IST

      Oil surges on Russia nuclear alert as sanctions intensify

    • 08:09 AM IST

      Vladimir Putin puts nuclear deterrent on alert

    • 08:03 AM IST

      Bharti Airtel to buy 4.7% stake in Indus Towers from Vodafone Plc

    • 07:58 AM IST

      Airtel shareholders approve Google investment

    • 07:51 AM IST

      Reliance Industries takes charge of Future Retail

    • 07:42 AM IST

      Asian Markets trade lower with Hang Seng, Straits Ties, Shanghai Composite down 0.5%

    • 07:36 AM IST

      Dow posts biggest gain since Nov 2020 as Wall St rebounds second day

    • 07:31 AM IST

      SGX Nifty indicates a flat start for the Indian indices:

  • IndexPricesChangeChange%
    Sensex58,991.521,031.43 +1.78%
    Nifty 5017,359.75279.05 +1.63%
    Nifty Bank40,608.65698.50 +1.75%
    Nifty 50 17,359.75 279.05 (1.63%)
    Fri, Mar 31, 2023
    Biggest GainerPricesChangeChange%
    Reliance2,331.0596.35 +4.31%
    Biggest LoserPricesChangeChange%
    Apollo Hospital4,310.90-52.10 -1.19%
    Best SectorPricesChangeChange%
    Nifty IT28698.60687.30 +2.45%
    Worst SectorPricesChangeChange%
    Nifty Pharma12017.0574.55 +0.62%

  • February 28, 2022 / 07:46 AM IST

    Follow our LIVE blog for the latest updates on the Russia-Ukraine and its impact

  • February 28, 2022 / 04:22 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

    It was a highly volatile session and benchmark indices gyrated sharply before ending higher despite lingering woes over the ongoing Russia-Ukraine battle. For India, rising crude oil prices has been a major worry, which will increase the oil import bill and subsequently trigger a spike in inflation going ahead.

    Technically, the Nifty has formed a long bullish candle which is broadly positive. Currently the market is hovering between 16500-16750 price ranges. In the last hour of trade, it cleared the resistance of 16750 but it would be interesting to see whether the index would be able to hold on to the level.

    For the traders, 16600 would be the immediate support level to watch out and above the same the index could continue the momentum till 16850-16950. However, a dismissal of 16600 could possibly trigger one more correction wave till 16500-16350.

  • February 28, 2022 / 03:59 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas:

    The Nifty opened gap down on February 28 only to attract fresh buying support near 16400-16350. Thereon the index witnessed recovery throughout the day. On the upside, it tested the crucial barrier of 16800, which restricted the upside for the day.

    The level of 16800 was earlier acting as a crucial support & has now changed its role to that of a resistance. Unless that level gets taken out on a closing basis the index can witness a consolidation in the short term.

    On the other hand, once 16800 is crossed on a closing basis then the index can attempt a larger bounce towards 17200.

  • February 28, 2022 / 03:57 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Aggravated Russia-Ukraine conflict along with fresh sanctions on Russia by global powers weighed on Western markets. Despite opening on a negative tone, domestic indices staged a strong recovery lifted by metal stocks and positive Asian markets.

    Metal stocks rallied on hopes that curtailing Russian exports would help Indian steelmakers to capture the export market share.

    Domestic investors are keenly awaiting the release of the Q3 GDP data later today which is forecasted at 6.5% against 8.4% in Q2.

  • February 28, 2022 / 03:55 PM IST

    Rupak De, Senior Technical Analyst at LKP Securities:

    The recovery continues in Nifty as 16550 level was not broken decisively. On the higher end the index value crossed beyond the initial resistance 16750.

    The momentum may continue till 16930-17000 where once again the Nifty may face selling pressure. On the lower end, support lies at 16750/16600.

  • February 28, 2022 / 03:45 PM IST

    Sachin Gupta, AVP, Research at Choice Broking:

    Technically, the Nifty index has formed a long green candle and sustained above the Lower Bollinger Band formation but still trading below the 200-Days SMA. Moreover, on an hourly chart, the index shifted above 21-SMA, which suggests further recovery.

    A momentum indicator RSI has pulled up from the oversold zone & Stochastic witnessed a positive crossover, which indicates short covering for the near term.

    At present, Nifty has immediate support around 16650/16500 levels, while on upside the resistance around 17000 levels. On the other hand, Bank Nifty has support at 35500 levels while resistance at 36800 levels.

  • February 28, 2022 / 03:36 PM IST

    Market Close:

    Benchmark indices ended on positive note for the second consecutive day on February 28 amid buying seen in the metal, oil & gas, power and IT stocks.

    At close, the Sensex was up 388.76 points or 0.70% at 56,247.28, and the Nifty was up 135.50 points or 0.81% at 16,793.90. About 2071 shares have advanced, 1290 shares declined, and 142 shares are unchanged.

    Hindalco Industries, Tata Steel, Power Grid Corporation, JSW Steel and BPCL were among gainers on the Nifty, while losers included HDFC Life, Dr Reddy's Labs, M&M, Axis Bank and HDFC Bank.

    Among sectors, except auto and bank all other sectoral indices ended in the green. BSE midcap and smallcap indices are up 0.8 percent each.

  • February 28, 2022 / 03:24 PM IST

    CLSA view on Bharti Airtel:

    The broking house CLSA has kept a buy rating on Bharti Airtel with a target at Rs 915 per share.

    The deal is divergent to Bharti’s long-term strategy of monetising tower assets.

    The key driver for Bharti’s stock remains the India mobile business.

    Bharti Airtel was quoting at Rs 686.55, down Rs 1.90, or 0.28 percent on the BSE.

  • February 28, 2022 / 03:20 PM IST

    BSE Capital Goods index added over 1 percent supported by the SKF India, Hindustan Aeronautics, Bharat Electronics

  • February 28, 2022 / 03:16 PM IST

    Citi view on Bharti Airtel

    The research firm Citi has maintained a buy rating on Bharti Airtel with a target at Rs 875 per share.

    Bharti providing exit to Vodafone should enable Vodafone Idea to complete its capital raise and it protect value of Bharti’s holding in Indus.

    The additional allocation of capital by Bharti is unlikely to enthuse investors, while attractive acquisition price offers potential for a meaningful return over long term.

    Bharti Airtel was quoting at Rs 687.20, down Rs 1.25, or 0.18 percent on the BSE.

  • February 28, 2022 / 03:13 PM IST

    Oil soars as sanctions and pressures on Russia mount

    Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports.

    Brent crude rose $4.16, or 4.3%, to $102.09, at 0915 after hitting a high of $105.07 a barrel in early trade.

    The Brent contract, for April delivery, expires on Monday. The most active contract, for May delivery, was up $4.16 at $98.28.

    U.S. West Texas Intermediate (WTI) crude was up $4.19, or 4.6%, at $95.78 a barrel after hitting $99.10 in early trade.