Summary
Thank you, readers! That's all from CNBCTV18.com's live market coverage on March 16, 2022. Stay tuned for other updates on our website: CNBCTV18.com.
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Won't recommend Voltas, Syphony at current levels: Sudip Bandopadhyay
Sudip Bandopadhyay, Group Chairman of Inditrade Capital, believes consumption has returned to pre-COVID levels, and sees scope for growth from current levels.
In the listed AC space, however, he sees certain concerns on the margin front. He does not recommend going long on Voltas or Symphony at current levels.
"There is absolutely no problem on the demand side, but margin pressure because of the supply chain worries us," he adds.
Cement industry going to face headwinds, there may be a demand-supply mismatch: Dipan Mehta
Elixir Equities Director Dipan Mehta expects the cement industry to face a lot of headwinds, cost increases in particular. The industry is rapidly expanding capacity so there can be a demand-supply mismatch as well, he says.
He believes it's a good industry to be in for the long term as demand for real estate and infrastructure should remain strong.
His advice: Whatever stocks are trading cheap may not be the best in giving returns; it is a good time to get into UltraTech or Shree Cement.
Mehta will avoid JK Cement at the moment.
Nifty headed towards major resistance at 17,025, Bank Nifty towards 36,000: JM Financial Services' Rahul Sharma
Rahul Sharma, Head of Technicals and Derivatives Research at JM Financial Services, is of the view the Nifty is headed towards major resistance at 17,025 and the banking index towards 36,000. This is happening with open interest at a two-high year in the Nifty, and a 10-year high in the Bank Nifty, he points out.
"In case these levels are crossed, the shorts will get challenged in a significant way. And we could see another round of rally happening on the upside. It's still early days; the breakout is still not confirmed. But if the breakout happens, it will cause for another short covering rally, which can trigger a good round of buying interest into the market. We are advising clients to stay light going into this event. If you're able to cross these levels tomorrow or day after, we should be in for a good upside in the coming few days," he adds.
Market At Close | Sensex, Nifty50 rise in line with global peers; best day for Hang Seng since 2008
Here are some highlights:
--46 Nifty stocks in the green
--Positive developments on Russia-Ukraine front help market see healthy gains
--Fear gauge India VIX slips 10 percent, biggest single-day fall in a month
--IT stocks gain ahead of Accenture earnings on Thursday; Infosys top gainer
--Oil market companies surge; IOC, BPCL, HPCL up 2 percent
--Cement stocks bounce on reports of strong demand; UltraTech top Nifty gainer
--Mphasis slips on reports of likely block deal, down 5 percent from high
--HAL among top midcap gainers on agreement with French company, up 7 percent
--Market breadth firmly in favour of bulls; advance-decline ratio at 5:2
--BSE-listed cos's market cap increases by more than Rs 4.5 lakh crore
Market At Close | UltraTech, Axis Bank, Bajaj Auto, IndusInd Bank top blue-chip gainers
Shree Cement, HDFC, Infosys, Hindalco and Britannia also among the gainers. Only three stocks in the Nifty50 pack below the flatline: Cipla, Sun Pharma and Tata Consumer.
How the 30-scrip basket looks like:
Closing bell | Sensex surges 1,040 pts to reclaim 56,800; Nifty50 at 16,970
Both headline indices finish the day 1.9 percent higher. The Sensex gains 1,039.8 points to end at 56,816.7 and the Nifty50 settles at 16,975.4, up 312.4 points from its previous close. Across-the-board gains pushed the main indices higher, with financial, IT and oil & gas shares being the biggest movers.
On Tuesday, both had halted a five-day-long winning run to three-month highs. (Read more on the March 16 session)
View | Stock market investing and navigating the macro context
"I am a lifelong admirer of (Warren) Buffett and to a lesser extent of Peter Lynch. But in this particular aspect, I think both of them are completely wrong. Before you start trolling me, and asking who is this guy who dares to contradict two of the greatest investors in the world, hear me out," says Abhishek Basumallick, a full-time investor who writes on intelsense.in.
Explained: Can market concentration determine future returns? Take a look at S&P 500's past
Index returns might not be as concentrated as one would guess, writes Mahavir Kaswa of Motilal Oswal AMC. (Read more)
Nifty50 within 11 pts of 200-DMA
The 50-scrip benchmark surges as much as 314.8 points or 1.9 percent to touch 16,977.8 in the last 30 minutes of the session, coming within 11 points of its 200-day moving average.
| Period (No. of days) | Simple moving average | Signal |
| 5 | 16,733.9 | Bullish |
| 10 | 16,463.5 | Bullish |
| 20 | 16,710.3 | Bullish |
| 50 | 17,270.9 | Bearish |
| 100 | 17,388.1 | Bearish |
| 200 | 16,988.5 | Bearish |
Russia Foreign Minister says neutral status for Ukraine being seriously discussed: Reuters
Catch latest from CNBC-TV18's coverage of Russia-Ukraine war
Time to accumulate HDFC Life, FIIs will regret selling: G Chokkalingam
G Chokkalingam, Founder and Managing Director at Equinomics Research & Advisory, believes one should view the current juncture as an opportunity to buy HDFC Life. "Interestingly, FIIs are selling. I believe they will regret selling," he says.
"It has got a banking platform to complement its marketing of its business. The price has fallen 34 percent. I believe that it's a great opportunity for conservative medium- to long-term investors," he adds.
Outlook on crude oil still bearish, bullish on aluminium: Nirmal Bang’s Kunal Shah
Kunal Shah of Nirmal Bang Commodities tells CNBC-TV18 he is not very optimistic about the outlook of crude oil. He is of the view that any rallies in oil should be sold.
He expects to see $90 a barrel on WTI in a matter of next 20 days to one month, and $92 a barrel on Brent. "Our outlook on oil continues to be bearish,” he says. (Read more)
Buy JSPL, DLF: Aditya Agarwala
Here are two trading calls from Aditya Agarwala of Yes Securities:
--Buy DLF for a target of Rs 364-366 with a stop loss at Rs 347
--Buy Jindal Steel and Power for a target of Rs 500 with a stop loss at Rs 440-445