Share Market Updates Today : Market Recap For 10 March

Nifty 15,098 ▲ 76 (+0.5%) Sensex 51,279 ▲ 254 (+0.5%)

Following a gap-up opening, the markets slid a little but remained in the green throughout. The market breadth was favourable too, with 35 of the Nifty50 stocks closing with gains. Among the sectoral indices, the Nifty Metal (+1.8%) witnessed a rebound and was trailed by Nifty IT (+1.6%). Meanwhile, the Nifty PSU Bank (-0.1%) was the sole loser today. Top gainers (Nifty50) Eicher Motors ▲ 3.1% JSW Steel ▲ 3.0% Hindalco ▲ 2.3% Top losers (Nifty50) SBI Life ▼ 3.4% ONGC ▼ 1.8% Indian Oil ▼ 1.5% Here are the top stories of the day. Magma Fincorp raises funds from Rising Sun Shareholders of the Kolkata-based NBFC have approved a plan to raise ₹3,456 crore from Adar Poonawala’s Rising Sun Holdings (RSHPL) and two members of the promoter group. After the transaction, RSHPL will have a 60% controlling stake in Magma Fincorp. While the regulatory process for the deal is under process, shares of Magma Fincorp gained 4.4% today. Easy Trip IPO garners strong interest The travel company’s IPO got oversubscribed by over 159 times on its final day. The ₹510 crore IPO is completely an offer for sale, with the promoters selling 25% of their shares through their maiden issue. As per the BSE, 2021 has witnessed the listing of eight companies and the response has been favourable, in general. Of these, Indigo Paints has delivered the strongest returns at about 69%, followed by Nureca (+59%) and Railtel (+57.8%). Aurionpro signs partnership with UK’s Future-Tech Technology products company Aurionpro Solutions has signed a strategic partners with UK-based Future-Tech for data centre design and consultancy projects in India and South Asia. The company believes that the requirement for data centres will increase as the world gears up for 5G technology. Its shares have hit their 20% upper circuit for the past two days. The rise in share price is coupled with a spike in volumes. Max Healthcare rises on QIP closure Shares of hospital chain Max Healthcare rose 2.0% today and about 11% so far in this month. The company has raised 1200 crore via a qualified institutional placement (QIP). The placement was issued at ₹195.4 per share. The company will utilize the funds primarily for capex and working capital requirements. In January, its peer Apollo Hospitals (+0.7%) raised ₹1,170 crore through a QIP. Closing bell After tomorrow’s holiday, the market’s opening on Friday will largely depend on the movements in the US markets. IT and Pharma stocks saw fresh buying interest after a few weeks of consolidation. Typically, these two sectors are insulated from the inflation numbers, which are expected to be released on Friday. Meanwhile, US Treasury yields continue to inch upward, posing a risk to the equity markets, in general. In the event of turbulence in equities, investors’ attention could return to safe-haven gold.