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  4. Markets open higher, NIFTY50 above 22,400, SENSEX gains over 150 points

Markets open higher, NIFTY50 above 22,400, SENSEX gains over 150 points

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Upstox

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2 min read • Updated: March 4, 2024, 10:59 AM

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Summary

Indian markets opened positively, with NIFTY50 touching a new 52-week high, while SENSEX is up over 150 points. NTPC, MOIL, Info-Edge, and other stocks are likely to remain in focus throughout the day.

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NTPC, MOIL, HG INfra, Info edge will remain in focus

Indian markets opened marginally higher on Monday morning, taking a cue from positive Asian markets. Japanese markets reached new highs on the Nikkei index, hitting the 40,000 mark for the first time, jumping 0.7% on Monday.

On the broader indices front, the NIFTY Midcap 100 and Small-cap 100 are trading mixed with marginal gains in today’s morning session.

On the commodity front, Brent crude oil prices surged past the $84 per barrel mark after the Oil and Petroleum Exporting Countries (OPEC) extended their voluntary production cuts until June 2024.

Below are key stocks expected to remain in focus owing to post-market developments:

NTPC

NTPC's share price is up 3% as the board of directors approved an investment proposal worth ₹17,195.31 crore for the Singrauli Super Thermal Power Plant, Stage III.

MOIL Ltd

The manganese ore manufacturer, recorded its best-ever production figures at 1.5 lakh tonnes of manganese ore, up 15% YoY. The total production for the April-February period stood at 15.8 lakh tonnes, up 37% YoY. MOIL's share price is up by 5% at ₹294 per share.

Signature Global

The company recorded sales of luxury residence "De-Luxe DXP" in Sector 37D, Gurugram, along with the vibrant Dwarka Expressway for over ₹3600 Crore. Signature Global's share price is up by 2%.

Info-Edge

Shares of Info-Edge opened 3% higher as its key applications were listed back on the Google Play Store. The company reported on Friday evening that its key apps were removed from the Play Store over non-compliance with the app billing policy.

HG Infra

HG Infra Engineering Ltd has informed through an exchange filing of receiving a letter of acceptance for an EPC project worth ₹447 crores by South Central Railway for the doubling of the railway line between Aurangabad and Ankai in Maharashtra.