Market Update-DHFL gains 18% ,ITC, ICICI Bank Top Gainers,Nifty opens above 11,000

DHFL gains 18%- DHFL surged in the early trade as an independent chartered accountant, TP Ostwal gave company clean chit on most allegations by Cobrapost. The stock is up nearly 24 per cent in the early trade.

Market Opens: The Sensex is up 158.64 points at 36601.18, while Nifty is up 47.10 points at 11034.60. About 777 shares have advanced, 146 shares declined, and 43 shares are unchanged.

Wipro, Indiabulls Housing, L&T, HPCL, BPCL, ITC, Vedanta, Grasim, DHFL, are the top gainers on the indices, while losers are Bharat Forge, Reliance Capital. All the sectoral indices are trading green, while midcap and smallcap also up 0.6 per cent.

Rupee Opens: The Indian rupee opened lower by 10 paise at 70.59 per dollar on Wednesday versus previous close 70.49.

Crude Update: Oil prices fell more than 0.5 per cent on Wednesday as bullish output forecasts by two big U.S. producers outweighed recent OPEC-led efforts to rein in crude production.

ITC was up nearly 2 per cent at Rs 287.75 and Vedanta opened higher by 1.71 per cent at 177.95. ICICI Bank was up by 1.30 per cent at Rs 368.80. ITC Ltd yesterday hiked prices of its popular brand of cigarettes by as much as up to 15%

Endurance Technologies Falls Nearly 10%- On Promoter’s Stake Sale Plans Shares of the auto parts maker fell as 9.8 per cent to Rs 1,136.55. The company’s promoter plans to sell 63.6 lakh equity shares or 4.52 per cent equity with a greenshoe option of additional 41.9 lakh equity shares or 2.98 per cent equity to non-retail investors on March 6 and retail investors on March 7.

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