Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP

Thank you, readers! That's all from CNBCTV18.com's live market coverage on March 10, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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Remain bullish on real estate space, like Godrej Properties, Sobha: Ambareesh Baliga 

Independent market expert Ambareesh Baliga remains bullish on real estate. "Mumbai as well as Navi Mumbai are seeing increases in sales. One should be bullish on real estate... Any company that is a decently good name should be there in the portfolio," he says. 

His picks from the space: Godrej Properties and Sobha Developers.

No change in market after key event a positive: Jonathan Schiessl

Jonathan Schiessl, Deputy Chief Investment Officer of Westminster Asset Management, views no change in the Indian market after a political event as a positive. "Broadly speaking, I think the markets for the time being, and particularly foreign investors, will probably be staying on the sidelines until they see what happens globally till we get some more certainty there," he says.

"We've seen some substantial foreign selling out of India over the last period. Perhaps that is done for the time being, but I wouldn't think we'll see substantial foreign buying anytime soon... A lot of investors do worry about inflation, and what's happening with oil prices and its impact on an economy like India. From our perspective, we haven't been allocating any additional monies to India; we do have some exposure," he adds.

Rupee ends higher at 76.30 vs US dollar

The rupee finishes the day at 76.30 against the greenback. On Wednesday, it had settled at 76.56.

Supreme Court reserves orders on sentencing Vijay Mallya for contempt after another no-show 

The top court had previously directed Mallya to appear before it for sentencing proceedings.

Market At Close | Sensex, Nifty50 off day's highs but extend gains to 3rd day

Here are some highlights:

--Oil price off recent highs, weighs on ONGC, GAIL

--Metal stocks jump in last hour as commodity prices rise; Nifty Metal up 2 percent

--Reliance extends gains, lifts Nifty by 34 points 

--Hindustan Unilever, Grasim, Tata Steel, SBI, JSW Steel, Tata Consumer top Nifty gainers

--Coal India, Tech Mahindra, Dr Reddy's, ONGC, TCS, UPL slip 

--Coforge top midcap loser following block deal of more than 10 percent equity

--Gujarat Gas, GAIL, OIL, Indian Hotels, BEL top midcap losers

--Astral, Adani Enterprises, IndiaMART, IndiGo, Cholamandalam Investment top midcap gainers

--Market breadth favours bulls; advance-decline ratio at 3:1

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

Hindustan Unilever, Tata Steel, Grasim, SBI top blue-chip gainers

JSW Steel, Indian Oil, IndusInd, Tata Consumer and Tata Motors also among the gainers. 

Coal India, Tech Mahindra, Dr Reddy's, UPL the worst hit among hte seven losers in the Nifty50 pack. 

Here's how the 30-scrip basket looks: 

Market At Close | Barring Nifty IT, all NSE sectoral indices in the green

The IT index slipped 0.1 percent. 

Closing Bell | Sensex up 817 points, Nifty50 at 16,595

Both headline indices finish the day up 1.5 percent. The Sensex up 817.1 points at 55,464.4 and the Nifty50 settles at 16,594.9, up 249.6 points from its previous close. (Read more on how the market fared at the closing bell)

Assembly Elections | Uttar Pradesh CM Yogi Adityanath leads from Gorakhpur seat by over 31,000 votes

Uttar Pradesh Chief Minister Yogi Adityanath was heading for a landslide victory and leading by around 31,000 votes from the Gorakhpur Urban seat.

According to latest Election Commission figures, Adityanath secured 47,427 votes. His nearest rival, Samajwadi Party's Subhawati Shukla, bagged 16,427 votes. (Read more)

Catch latest updates on Assembly Elections 2022 results on CNBCTV18.com’s blog 

Follow minute by minute updates on election results of Uttar Pradesh, Punjab, Uttarakhand, Goa, Manipur here

Click here for our full Assembly Elections 2022 coverage

Positive on banking NBFC stocks: Deven Choksey 

Deven Choksey of KRChoksey believes there is a case for investing in banking and NBFC stocks now. On one side, the retail credit offtake is likely to remain steady to high, with consumption going to be the main driver of retail credit and on the other, industrial credit is likely to pick up smartly thanks to government spending on infra, he says. 

Choksey is also of the view that most banks, corporate private sector banks in particular, have systematically managed their books and liabilities. "They have compromised or sacrificed a part of growth also in this particular period, but managed to keep the books healthy. This particular point works in favour when the credit demand starts to pick up," he says. 

Crude oil prices have peaked around $130/barrel: Adrian Mowat

Emerging equity market strategist Adrian Mowat tells CNBC-TV18 that in his view, crude oil prices have peaked at around $130 a barrel. He expects to see good GDP growth across the US and Europe after the pandemic. 

With the Russia-Ukraine crisis becoming less dominant now, the focus will shift to the Federal Reserve, he says. 

He also believes that weakness in Indian financials is overdone, and Indian equities remain quite resilient. 

Catch latest from CNBC-TV18's coverage of Russia-Ukraine war

Assembly Elections | AAP's Bhagwant Mann wins Dhuri seat by more than 58,000 votes

The Aam Aadmi Party appeared to be racing ahead of its rivals in the state. (Read more)

Catch CNBC-TV18's coverage of Assembly election 2022 results

Sensex, Nifty50 give up two-thirds of day's gains

Barring Nifty IT, all sectoral gauges hold on to the green.