Stock Market: Strong opening of the market, Sensex opened close to 56 thousand, Nifty also increased

Share Market Closing Bell: Sensex jumps 85 points, Nifty closes above 16600

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new Delhi. Both the indices opened on the red mark on the last trading day of the week. The Bombay Stock Exchange (BSE) Sensex started trading by breaking 300, while the National Stock Exchange (NSE) Nifty opened below the level of 16,500. The market closed on the rise for the fourth consecutive day amid volatility. At the end of trading, the Sensex closed at 55,550.30 with a gain of 85.91 points, or 0.15 per cent. Similarly, Nifty also closed at 16630.45 with a gain of 35.55 points or 0.21 percent.

ICICI Bank will buy 5 percent stake in NARCL
Let us tell you that the private sector ICICI Bank has said on Friday that it has signed an agreement on 10 March 2022 for investment in National Asset Reconstruction Company Limited (NARCL). NARC is an asset reconstruction company that was established on 7 July 2021.

Government seeks application from drone industry for PLI
The government has sought applications from the drone industry for the Production Linked Incentive (PLI) scheme. The government had issued the notification of the PLI scheme on September 30, 2021. There is a total incentive of 120 crores, which will be given during three financial years. The Civil Aviation Ministry said on Friday that the total incentive is almost double of the total turnover of the drone industry in the financial year 2020-21.

Auto mobile sector’s February wholesale sales down 23% year-on-year
Auto industry body Society of Indian Auto Mobile Manufacturers (SIAM) has said that in February, dispatches from companies to dealers have seen a decline of 23 per cent year-on-year. SIAM further said that lack of supply of semiconductors, increase in vehicle prices due to new regulations and some other factors are adversely affecting the demand for auto mobiles.

Tags: BSE, Nifty, NSE, Sensex, Share market

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