Sensex, Nifty trades in the range; Crafty near level 16,900

Benchmarks traded in a range during afternoon trading, supported by consumer durables and bank stocks. All the NSE sector indices were in the green. The Nifty hovered a bit below the 16,900 level.

At 1:30 p.m. IST, the barometer index, the S&P BSE Sensex, rose 743.40 points or 1.33% to 56,520.25. The Nifty 50 index gained 221.70 points or 1.33% to 16,884.70.

Infosys (+1.93%), Reliance Industries (RIL) (+1.33%) and HDFC Bank (+1.49%) boosted the indices.

The broader markets were almost level with the benchmarks. The S&P BSE Mid-Cap Index gained 1.34%. The S&P BSE Small-Cap Index rose 1.16%.

Buyers outnumbered sellers. On the BSE, 2,222 stocks rose and 1,084 stocks fell. A total of 132 stocks remained unchanged.

Winners and losers:

Axis Bank (+4.47%), Ultratech Cement Co. (+2.36%), IndusInd Bank (+1.90%), Eicher Motors (+1.65%) and Bajaj Finserv (+1.57% ) were the top gainers on the Nifty 50 Index.

Cipla (down 4.13%) and Sun Pharmaceutical Industries (down 3.89%) were the biggest losers in the Nifty 50 index.

Actions in the spotlight:

Tata Communications rebounded 3.13%. The company has announced a multi-year strategic collaboration with Formula 1. Under the collaboration, Tata Communications will operate as the official Formula 1 broadcast connectivity provider. Tata Communications will provide Formula 1 with end-to-end managed network services. end for the video contribution. . For this, the company will facilitate the transfer of over 100 video streams and over 250 audio channels to be transmitted between the Grand Prix venue and the F1 Media & Technology Center in the UK each race weekend in less than 200 milliseconds, enabling F1 to broadcast to over 500 million fans in over 180 territories worldwide.

One 97 Communications (Paytm) jumped 6.79%. Munish Ravinder Varma, non-executive and non-independent director of One 97 Communications (Paytm), has resigned effective close of business hours on March 14, 2022, due to personal commitments and other concerns. Upon Varma’s resignation, Vikas Agnihotri, Alternate Director of Munish Ravinder Varma, ceased to be an Alternate Director of the company from the close of business hours on March 14, 2022.

Torrent Power gained 0.87%. The company announced that it would buy a 51% stake in Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation. Torrent Power has entered into a Share Purchase Agreement (SPA) and a Shareholders Agreement (SHA) with the Union Territory Administrator of Dadra and Nagar Haveli and Daman and Diu (Holding Entity) and Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation (the SPV) for the purchase of 51% of the share capital of the SPV from the holding entity. The SPV will be responsible for the distribution and retail supply of electricity. It holds a distribution license in the Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH&DD).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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