Shares of BHEL rose 17% to hit a new 52-week-high of Rs 275.85 after the company’s board approved an investment of Rs 17,195.3 crore for the third phase of the Singrauli Super Thermal Power Project, a 2×800 MW project. The stock has an upper band of Rs 283.05.

Finance Minister might postpone rule regarding payments to MSMEs within 45 days, reported CNBC TV18 citing sources.

NTPC, Power Grid, HDFC Life Insurance, BPCL, and ONGC were the top gainers in the Nifty 50. While Eicher Motors, JSW Steel, SBI Life Insurance, M&M, and Apollo Hospitals were the major laggards in the Nifty 50 on March 04.

Mukka Proteins got bidding 32 times its offered shares. Today is the last day to subscribe to the IPO of Mukka Proteins. The shares of the company were fetching a premium of 89% to the issue price of Rs 28.

The NSE Nifty 50 was up 0.13% quoting at 22,408.30.

In the first week of March, eight IPOs are in the pipeline to open their subscription to retail investors, of which three are in the mainboard segment while the remaining five are in the SME segment.

The NSE Nifty 50 was up 0.10% at 22,400.90 while the 30-stock BSE Sensex was up 0.06% at 73,851.93.

NTPC, Dr Reddy’s Laboratories, Power Grid, BPCL, and ONGC were the top gainers in the Nifty 50. JSW Steel, Eicher Motors, SBI Life Insurance, M&M, and Tata Steel were the key losers in the Nifty 50 on March 04.

Foreign Portfolio Investors (FPIs) have expressed sustained confidence in Indian markets, as per data from the National Securities Depository Ltd (NSDL), indicating a substantial investment of Rs 1,539 crore in Indian equities. The overall inflow, covering debt, hybrid, debt-VRR, and equities, stands impressively at Rs 31,817 crore as of February 29.

On March 1, FPIs strengthened their commitment to Indian equities, infusing an additional Rs 4,201 crore. Concurrently, they divested Rs 134 crore from debt markets.

Despite the challenges posed by elevated US bond yields, FPIs reversed the trend observed in January, transforming into net buyers throughout February. The total capital outflow from Indian equities by FPIs in 2024 currently registers at Rs 20,004 crore.

Read More: FPIs Buck Trend, Emerge as net buyers: Infuse Rs 1,500 crore into Indian equities in February

The index was up 1.31%, highest among sectoral indices.

Shares of One 97 Communications experienced a decline of more than 2%, touching an intra-day low of Rs 400. This dip was in response to the news of The Financial Intelligence Unit of India imposing a penalty of Rs 5.49 crore on Paytm Payments Bank for violations under the Prevention of Money Laundering Act, 2002.

Shares of Adani Enterprises rose 0.5% to hit a fresh 52-week-high of Rs 3,350. However, the stock came off its highs and was trading down 0.14% to Rs 3,328.50. Come from Sports betting site

The Bombay Stock Exchange has declared the periodic reconstitution of S&P BSE Indices, including Jio Financial Services as the only addition to the S&P BSE Large Cap. The shares of Jio Financial Services dipped by over 2% to an intra-day low of Rs 320.60.

Share of NTPC rose 3.6% to hit the 52-week-high of Rs 354, making it the top gainer in the Nifty 50. The stock has an upper band of Rs 375.90. On March 04, PM Narendra Modi will lay the foundation of projects worth Rs 30,023 crore for the company. Also, NTPC’s board has approved an investment of Rs 17,195.31 for the Sigrauli super thermal power project, Stage III (2×800 MW).

NTPC, Power Grid, Bajaj Auto, Adani Ports, and ONGC were the top gainers in the Nifty 50. While JSW Steel, Tata Steel, BPCL, Eicher Motors, and Nestle India were the major laggards in the Nifty 50 on March 04.

NTPC, Power Grid Corp, Bajaj Auto, Adani Ports and SEZ, and ONGC are the top gainers on NSE Nifty 50 index, while the early laggards include JSW Steel, Tata Steel, BPCL, Eicher Motors, and Nestle India.

The NSE Nifty 50 opens up by 0.11% at 22,403.50, while the BSE Sensex gains 0.13% to 73,903.10 in the opening trade.

Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, stated, “The bulls in Bank Nifty continued to exert control, successfully overcoming substantial obstacles with noteworthy volumes. The current support for the index is situated within the range of 47000-46900, and any retracement toward this support zone is viewed as a favorable buying opportunity. Strong indications suggest that the index is on track to surpass its all-time high levels, positioned at the 48500 mark, in the near term.”

Providing insights into the technical outlook of Nifty, Rupak De, Senior Technical Analyst at LKP Securities, commented that Nifty maintained its position above 22,000 in the early hours, driving an upward trajectory throughout the day. The index’s breakout from consolidation, along with sustained movement above the moving average, contributed to a strong rally. Notably, the Relative Strength Index (RSI) confirmed a bullish crossover, indicating positive momentum in the market. The sentiment is optimistic for potential upward movements, with expectations of buying on dips. On the upper end, resistance is evident at 22,400/22,600, while support is positioned at 22,200.

On March 1, 2023, foreign institutional investors (FIIs) acquired shares with a net value of Rs 128.9 crore, whereas domestic institutional investors (DIIs) purchased shares amounting to a net value of Rs 3,814.5 crore, as per provisional data from the NSE.

Shares in the Asia-Pacific region are trading positively on Monday morning. The Asia Dow is up by 1.10%, while Japan’s Nikkei 225 is in the green, showing a gain of 0.75%. Hong Kong’s Hang Seng index has concluded higher by 0.47%, and the benchmark Chinese index Shanghai Composite has ended up by 0.39%.

On Monday morning, WTI crude prices are at $80.06, marking a 0.12% increase, and Brent crude prices stand at $83.76, reflecting a 0.25% uptick.

The US Dollar Index (DXY), gauging the dollar’s value against a basket of six foreign currencies, saw a slight decrease of 0.06%, trading at 103.83.

U.S. bond prices experienced an increase, driven by disappointing factory data and a decrease in consumer sentiment, reinforcing expectations of upcoming interest-rate cuts. Traders examined the latest statements from various Federal Reserve speakers. The stock market saw a resurgence in the technology sector, leading to gains. The Nasdaq Composite, heavily influenced by tech stocks, closed up by 1.12% at 16,272.80. The S&P 500 recorded an increase of 0.80%, gaining 40.96 points to reach 5,137.23, while the Dow Jones Industrial Average concluded higher by 0.23%, adding 89.36 points to finish at 39,085.75, as reported by Bloomberg.