Stock Market Highlights | Sensex, Nifty 50 end session at record high

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Sensex & Nifty Post Minor Gains While Midcap Index Sees A Minor Fall
Nifty Bank Relatively Outperforms Led By By Private Banks
Sensex & Nifty Up 0.5% Each, Nifty Bank Up 1%, Midcap Index Down 0.2%
Reports Of Tata Sons’ Listing Boost Tata Names, Grp M-Cap Up 1 Lk Cr This Wk
Tata Chem Up 36%, Tata Invest Up 22%, Tata Power Up 13% This Week
City Gas Cos Amongst Top Losers On Regulatory Concerns, MGL Falls 12%
Bajaj Auto Is Top Nifty Gainer, Rahul Bajaj Says Fair Value Is `12,000/Sh

Nifty Closes Above 22,500 & Sensex Above 74,100 For The 1st Time
Nifty Hits Intra-day Record Of 22,526 & Sensex 74,245
Nifty Bank Snaps 6-day Gaining Streak, ICICI & Axis Major Drags
Sensex Rises 33 Points To 74,119 & Nifty 20 Points To 22,494
Nifty Bank Falls 130 Pts To 47,836 While Midcap Index Gains 109 Pts To 48,966
M&M Falls 4% After A Stake Sale By Promoters Via Block Deals
Oil Mktg Cos Remain Under Pressure, Stocks Fall 2% Each
Select Metal Names Jump On +ve Cues, Tata Steel Up 4%, JSW Up 2%
Bajaj Auto Extends Gaining Streak, Rises Another 3% To Hit Record High
Bajaj Fin & Bajaj Fin Serv See Buying As Well, Both Stocks Gain 2% Each
Tata Group Cos Continue To Move Higher, Tata Chem Up 12% On Friday
Tata Power Surges 8% As MERC Approves Tariff Hike Of 24% For FY25
Tyre Stocks Slip On Price Cut Reports, Apollo Tyres Falls More Than 3%
Market Breadth Favours Advances, Advance-Decline Ratio At 2:1

“We have reduced our weight in NBFCs, and we are overweight bank and underweight NBFCs and overall neutral on lending financials,” says Varun Lohchab, Head-Institutional Research, HDFC Securities.

HCL Technologies Ltd announced on Thursday that it has entered into a partnership with ServiceNow for the delivery of new generative artificial intelligence (AI)-driven solutions.

Read more here 

Recommendations by Sudeep Shah, SBI Securities:
Buy L&T for a target of ₹3,850-3,900 with a stop loss at ₹3,550
Buy Titan for a target of ₹3,950-4,000 with a stop loss at ₹3,700

Recommendations by Ruchit Jain, 5paisa.com:
Buy L&T for a target of ₹3,900 with a stop loss at ₹3,550
Buy Pidilite Industries for a target of ₹3,200 with a stop loss at ₹2,750

Shares of IIFL Finance Ltd snapped four-day losing streak in Thursday’s session. The stock rallied 10% intraday to scale a day’s high of ₹420.40 on the NSE today. Despite today’s up move, the NBFC stock is still down 40% from the 52 week high of ₹704.2, reached on October 16 last year.

Read more here 

Macrotech Developers issues shares to HDFC Life, Invesco Fund, Nomura fund, New World fund, Stitching Depository and GQG via QIP.

Rajiv Jain-led US-based investment firm GQG Partners has bought 4.9 crore equity shares of telecom operator Bharti Airtel from promoter group entity Singapore Telecommunications or Singtel. The deal for 0.8% direct stake in Bharti Airtel is valued at S$0.7 billion (approximately ₹5,849 crore).

Read more here

The recent rally has come on the back of a Spark Capital note on March 4, which mentioned that Tata Sons, the parent company of the Tata Group, could list within the next 18 months. This is because the Reserve Bank of India classified the company as an upper-layer NBFC.

Read more here

Recommendations by Mitessh Thakkar of earningwaves.com
Buy SAIL for a target of ₹152 with a stop loss at ₹138.50
Buy PEL for a target of ₹223 with a stop loss at ₹210

Mahindra & Mahindra Ltd, the automobile manufacturer and a Nifty 50 constituent saw 1.1 crore shares or 0.9% of the total equity change hands in a block deal that took place on the exchanges on Thursday.

Read more on the stake sale here

Nifty Media is up for the second trading session in last 10; TV18, Network18 up more than 3% each.

Chandan Taparia, Derivative & Tech Analyst, Motilal Oswal Financial Services-

Buy Bharti Airtel with a stop loss of ₹1,175 and a target of ₹1,250

Buy Bajaj Auto with a stop loss of ₹8,450 and a target of ₹9,000

Buy State Bank of India (SBI) with a stop loss of ₹770 and a target of ₹815

Technical Analyst Sudarshan Sukhani-
Sell AU Small Finance Bank with a stop loss of ₹580
Buy Cipla with a stop loss of ₹1,470
Buy Cummins India with a stop loss of ₹2,755
Buy L&T with a stop loss of ₹3,610

Buy Oracle Finance with a stop loss of ₹7,940 and a target of ₹8,175
Buy Pidilite with a stop loss of ₹2,790 and a target of ₹2,920
Buy Bharti Airtel with a stop loss of ₹1,170 and a target of ₹1,245
Sell L&T Finance with a stop loss of ₹163.25 and a target of ₹150

Indian equity benchmark indices Sensex and Nifty opened at record highs. While Nifty was above 22,500, Sensex crossed 74,200.