Stocks that moved the most on March 16: Gainers & Losers

The Indian stocks  indices ended higher on March 16 on buying across sectors. At close, the Sensex was up 1,039.80 points, or 1.86%, at 56,816.65, and the Nifty was up 312.30 points, or 1.87%, at 16,975.30.

ULTRACEMCO, AXISBANK, BAJAJ-AUTO, INDUSINDBK and SHREECEM were among the top Nifty Gainers.

CIPLA, SUNPHARMA, Tata TATACONSUM were the Nifty Losers.

All the sectoral indices ended in the green with Nifty Bank, Auto, Metal indices rising 2 percent each. FMCG and IT indices, too, gained nearly 2 percent each.

The S&P BSE Sensex surged 1,040 points, or 1.85 per cent, to settle at 56,817 levels on Wednesday. The Nifty50, on the other hand, shut shop near the 17,000-mark at 16,975, up 312 points or 1.87 per cent.

Stocks and sectors

On the sectoral front, IT, oil & gas, metal and realty indices rose 2-3 percent, while auto, bank, capital goods, FMCG, and power indices rose 1 percent each.

Broader indices performed in line with main indices with BSE Midcap index adding 1.8 percent and BSE Smallcap index surging 1.4 percent.

A long build-up was seen in JK Cement, Hindustan Aeronautics and Intellect Design Arena, while a short build-up was seen in the Coforge, Federal Bank and Balrampur Chini Mills.

Among individual stocks, a volume spike of more than 200 percent was seen in Hindustan Aeronautics, Tata Communications and Nippon Life India Asset Management.

On the BSE, as many as 100 stocks touched their 52-week high. These included Usha Martin, Shankara Building Products, NDTV, JK Paper, Cholamandalam Investment and Finance Company.

Global markets

European stocks were trading higher on Wednesday as global markets await the latest monetary policy figures and economic forecasts from the US Federal Reserve.

The pan-European Stoxx 600 index was trading 2.2 per cent higher Wednesday morning, with all sectors in positive territory.

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On Wall Street, Dow Jones Futures jumped nearly 300 points or 0.87 per cent. Nasdaq Futures, on the other hand, surged 2 per cent and S&P500 Futures climbed 1 per cent.

Asian equities, too, rallied Wednesday after their recent rout, with Hong Kong leading the way after Chinese authorities pledged to provide support and stability to the country's troubled markets.

Hong Kong's Hang Seng rallied 9 per cent while China's CSI300 index soared over 4 per cent. Japan's Nikkei, South Korea's Kospi, and Australia's ASX200 added up to 1.6 per cent.

Here are the Gainers and Losers:

Hindustan Aeronautics: CMP: Rs 1,463: The share jumped over 6 percent after the company entered into an MOU on a non-exclusive basis with Safran Helicopter Engines SAS, France. for finding the feasibility of potential cooperation in business opportunities, which does not constitute any obligation on the part of either party to enter into a definitive agreement or make any financial commitments.

Rail Vikas Nigam: CMP: Rs 33.30: The stocks price ended in the green on March 16. The Board of Directors of the company in a meeting on March 16, 2022 declared an interim dividend of Rs 1.58 per equity share of Rs 10 each for the financial year 2021-22.

March 25, 2022 has been fixed as the recorded date for determining the eligibility for payment of the dividend.  The payment would be completed on or before April 14, 2022, the company said in an exchange filing.

Tata Communications: CMP: Rs 1,177.35: The scrip jumped over 4 percent after Formula 1 and Tata Communications announced a multi-year strategic collaboration.

Tata Communications returns to the sport as the official broadcast connectivity provider of Formula 1 to deliver and enhance a world-class, technologically advanced experience for fans globally.

Torrent Power: CMP: Rs 485.95: The stocks added 2 percent on March 16. Torrent Power Limited has entered into a share purchase agreement (SPA) and shareholders agreement (SHA) with Union Territory of Dadra and Nagar Haveli and Daman and Diu and Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Limited for the purchase of 51% equity share capital of the SPV from the holding entity.

Zomato: CMP: Rs 76: The stocks price ended in the red on March 16. The food delivery giant acquired a 16.66 percent stake in Mukunda Foods Private Limited, a food robotics company, for cash consideration of $5 million.

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The board also approved a loan of up to $150 million to Grofers India in one or more tranches. The loan to Grofers is in line with its stated intent of investing up to $400 million cash in quick commerce in India over the next two years.