Stock Market Highlights: Sensex ends 1,047 pts higher, Nifty reclaims 17,250; IT index edges lower ahead of Accenture results

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Upmove along expected lines, market was in uoversold zone: Equity99's Rahul Sharma 

Rahul Sharma of Equity99 believes the market was appearing to be in oversold territory and such an upmove was expected. "However, the Russia-Ukraine war still persists between and any major move there might trigger selling in the markets. Crude continues to hover around the $100 mark. Investors are advised to deploy cash in part to take advantage of any further fall," he says. 

Support for Nifty has shifted to 17,000 from 16,800: Amol Athawale

Amol Athawale, Deputy Vice President-Technical Research at Kotak Securities, says support for the Nifty has shifted to 17,000 from 16,800.

"As long as the index holds the 17,000 mark, the uptrend wave will continue till 17,450, and could lift the index up to 17,600. However, 17,000 could be the sacrosanct support level for the Nifty, a closing below which could see it hit 16,900-16,800 levels," he says. 

No empirical evidence that Fed hikes have any negative impact on markets: Prashant Khemka

Prashant Khemka, Founder of White Oak Capital Management, says that in his view, the Fed hike cycle occupies or preoccupies the investment community way too much, including media, but there is hardly any empirical evidence. "There's no empirical evidence that Fed hikes have any negative impact on markets," he says. 

In fact, the last eight times when the Fed raised rates, the US market gave positive returns over the following 12 months, with an adverage return of about 11 percent, which is way above the average annualised return over time, he points out.

"It's good to have this thing (FOMC meeting) out of the way; the liftoff for the first hike. We have never associated too much importance to it in any case," says Khemka. 

Positive on Titan but buy on condition that there may be no return in next few years: Deven Choksey 

Deven Choksey of KRChoksey remains positive on Titan, but says one has to buy with a condition that there may not be any gain in the next few years. "If you end up getting something, I think it's a bonus. I think the market has been extremely generous in last one year or so in which the stock has given a significant return," he says. 

Choksey says the company's jewellery business is finding traction. "I am convinced about the consumption story and the company's brand... The story remains absolutely very strong on the consumption side," he says.

However, Titan always remains expensive on the valuation front, he adds.

Rupee ends higher at 75.80 against US dollar

The rupee finished the day at 75.80 against the greenback. On Wednesday, it had settled at 76.27.

Market This Week | Sensex, Nifty rise 4%, 2nd straight weekly gain

Here are some highlights:

--Nifty Bank rises 5 percent, biggest weekly gains in 2 months

--Except Nifty PSU, all sectoral indices rise, up 1-6 percent

--45 Nifty stocks in the green; hdfc, Titan, Maruti top gainers

--HDFC, Titan, Maruti, M&M, 16 other Nifty stocks gain over 5 percent

--ONGC, Coal India, Hindalco, Indian Oil top Nifty losers 

--Bandhan Bank, SRF, Piramal, Coromandel, PI Industries top midcap gainers

--Jubilant FoodWorks, Oil India, Mphasis, Hindustan Copper top midcap losers

Market At Close | Sensex, Nifty50 rise in line with global peers following Fed’s 25-bps rate hike 

Here are some highlights: 

--46 Nifty50 stocks in the green

--HDFC, HDFC Bank, Kotak Bank, ICICI, Reliance Industries lead market

--IT stocks drop in last hour of trade: Nifty IT down 0.2 percent

--ONGC rises 2 percent from as Brent crude recovers

--Metal stocks rise; JSW Steel up 4 percent, Tata Steel 3 percent

--Titan surges 4 percent to all-time high

--Market breadth favours bulls; advance-decline ratio at 2:1

--Investors richer by 4 lakh crore as BSE-listed companies’ market cap rises to Rs 260.4 lakh crore

HDFC, Titan, JSW Steel, SBI Life top blue-chip gainers

Reliance Industries, Kotak Mahindra Bank and Eicher Motors also among the gainers. Only four stocks in the Nifty50 basket below the flatline: Infosys, Cipla, Indian Oil and HCL Tech.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Here's how the 30-scrip pack looks like:

Closing Bell | Sensex up 1,047 points at 57,864, Nifty50 at 17,287

Both headline indices finish the session up 1.8 percent. The Sensex rises 1,047.3 points to end at 57,863.9 and the Nifty50 settles at 17,287.1, up 311.7 points from its previous close. Gains across most sectors pushes both gauges higher. The IT index edges lower ahead of Accenture's quarterly earnings. (Read more on the March 17 session)

The market will remain shut on Friday for Holi. 

Nifty IT slips into the red ahead of Accenture earnings; Infosys down 2%

Rupee set for biggest single-day gain against US dollar in 7 months 

Rupee gains past the 76 level against the greenback for the first time in the last two weeks.

JPMorgan raises Coal India target price by 11%, maintains 'overweight' rating

JPMorgan raises its target price for Coal India - the world's largest miner of dry fuel by output - to Rs 265 from Rs 238, and maintains its 'overweight' rating.

The brokerage: 

--expects the operating environment to remain strong for Coal India over the coming quarters

--raises its earnings per share estimates for Coal India by 7 percent

Coal India shares rise as much as 1.5 percent to Rs 179.6. The stock has rewarded investors with a return of close to 28 percent in the past year, as against the Nifty50's gain of 18 percent. (Read more)

Buy MCX crude oil April futures, target Rs 7,700: Amit Sajeja

Amit Sajeja, VP-Technical Commodities and Currencies Analyst-Commodities at Motilal Oswal Financial Services, recommends buying the April contract at Rs 7,100 for a target of Rs 7,700 with a stop loss at Rs 6,800. 

"MCX crude oil has expectedly declined sharply in the last one week and is trading close to important support at Rs 7,000-6,900 levels. Being oversold, a pullback rally is quite likely in the short term. Buying near support is advised for a target in the Rs 7,700-7,800 zone," he tells CNBCTV18.com. 

Buy JSW Steel, Adani Enterprises: Himanshu Gupta

Here are two trading calls from Himanshu Gupta of Globe Capital: 

--Buy Adani Enterprises for a target of Rs 1,850-1,880 with a stop loss at Rs 1,775 

--Buy JSW Steel for a target of Rs 725 with a stop loss at Rs 678