NIFTY50, SENSEX in green as Bajaj Auto, UPL gain; IIFL Finance jumps 9%
Upstox
2 min read • Updated: March 7, 2024, 12:41 PM
Summary
Benchmark indices trade range-bound on Thursday, March 7. Metal stocks shine, while auto stocks trade lower.
Markets were trading in the positive territory today, with benchmark indices NIFTY50 and SENSEX gaining 0.06% each at midday. Of the NIFTY 50 universe, 30 stocks were in green, with Bajaj Auto, UPL, Tata Steel, Tata Motors and JSW Steel being the top gainers.
On the sectoral front, NIFTY Media (+2.2%) and Metal (+1.1%) indices were among the top gainers today. Oil and Gas (-0.8%) and Bank (-0.3%%) were the top losers.
In terms of broader markets, NIFTY Midcap100 rose by 0.55%, followed by NIFTY Smallcap100, which rose 0.89%
On the stocks front, Bajaj Auto was the top gainer today in the NIFTY50 index. The automaker’s shares rose for the sixth straight session as the company’s ₹4,000 crore share buyback program kickstarted yesterday. The company intends to buy back 40 lakh shares at ₹10,000 per equity share. The buyback will be open till March 13.
IIFL Finance jumped 9.71% after Fairfax India Holdings Corporation announced liquidity support of $200 million to the company. SpiceJet also gained 3% after resolving a dispute with Echelon Ireland Madison One.
Shares of Mukka Proteins debuted at a premium of 42% over the issue price at ₹40 on the NSE. On the BSE, shares opened at ₹44 apiece.