Nifty opens above 17000, Sensex gains 120 pts on Tue, Mar 21; HDFC AMC stock, PVR shares rise over 2%

Domestic indices opened higher on Tuesday amid positive sentiment in global markets. The NSE Nifty 50 rose 32.65 pts or 0.19% to 17,021.05 and BSE Sensex advanced 129.03 pts or 0.22% to 57,757.98. Bank Nifty rose 79.70 pts or 0.20% to 39,441.65. The top gainers on Nifty 50 were Bajaj Finance, HDFC Life, Reliance, Titan and Bharti Airtel while the top losers were Tech Mahindra, Power Grid, ITC, HCL Tech and TCS.    

Sectoral Indices

The sectoral indices were trading mostly in green. Bank Nifty rose 0.12%, PSU Bank climbed 0.39% while Nifty IT was down 0.64% and Nifty FMCG was down 0.35%.

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HDFC AMC, PVR stocks in focus today

HDFC Asset Management Company shares rose 3.31% to Rs 1739.95 after GQG Partners Emerging Markets Equity Fund sold 24.78 lakh shares in HDFC AMC, for a consideration of Rs 396.83 crore, averaging to the price of Rs 1,600.85 per share. SBI MF emerged as a buyer, acquiring 47.33 lakh shares at an average price of Rs 1,600 per share, amounting to Rs 757.4 crore via open market transactions.

PVR Ltd shares rose 2.12% to Rs 1579.35 after ICICI Prudential MF bought 6.41 lakh shares of the multiplex chain while SBI Mutual Fund bought 14.7 lakh shares and Societe Generale-ODI acquired 3.28 lakh shares. The seller was Berry Creek Investment who offloaded 24.39 lakh shares (2.49%) at Rs 1,559.35 per equity share.

Asian and US stock markets

Asian markets were trading in green with China’s Shanghai Composite index rising 13.90 pts or 0.43% at 3,248.78, Hong Kong’s Hang Seng climbed 198.55 or 1.04% to 19,199.26 and South Korea’s KOSPI advanced 17.43 pts or 0.73% to 2,396.73. In Japan, the stock market remained closed on Tuesday.

The US market ended Monday’s session in positive territory with Dow Jones Industrial Average rising 382.60 pts or 1.20% to 32,244.58, S&P 500 climbing 34.93 pts or 0.89% to 3,951.57 and the tech-heavy Nasdaq advancing 45.02 pts or 0.39% to 11,675.54.

FII and DII data

Foreign institutional investors (FII) sold shares worth a net Rs 2,545.87 crore, while domestic institutional investors (DII) acquired equities worth a net Rs 2,876.64 crore on 20 March, according to the provisional data available on the NSE.

NSE F&O Ban

The National Stock Exchange has Biocon and Indiabulls Housing Finance on its F&O ban list for 21 March. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.