Tuesday, March 19, 2024
HomeBusinessMarketsMarket Close: Nifty and Sensex End on a High Note

Market Close: Nifty and Sensex End on a High Note

Markets at 3:30 pm

The stock market ended on a positive note on March 22nd, with both the benchmark indices closing higher in a volatile session. The Sensex was up by 0.24%, or 139.91 points, closing at 58,214.59, while the Nifty was up by 0.26%, or 44.40 points, closing at 17,151.90. Let’s take a closer look at the market performance and the factors behind the rise.

Market Performance

The market witnessed a mixed trend, with the Nifty and Sensex fluctuating throughout the day. However, it managed to end on a high note, with the Nifty closing above 17,100 and the Sensex above 58,000. Out of the 3142 stocks traded on the BSE, 1993 advanced, 1421 declined, and 128 remained unchanged.

Gainers and Losers

The top gainers on the Nifty were HDFC Life Insurance, Bajaj Finance, Bajaj Finserv, Sun Pharma, and Tata Consumer Products, with gains ranging from 1.9% to 4.4%. On the other hand, the losers were BPCL, Coal India, NTPC, Adani Ports, and Axis Bank, with losses ranging from 0.7% to 3.3%.

Sectoral Performance

On the sectoral front, the pharma index was the top gainer, adding 1%, while the PSU Bank index rose by 0.8%. The other indices that performed well were IT, FMCG, and Metal, with gains ranging from 0.5% to 1.5%. On the other hand, the Auto and Realty indices were the top losers, with losses ranging from 0.4% to 1.2%.

Factors Behind the Rise

Several factors contributed to the market’s positive performance on March 22nd. One of the key factors was the positive global cues, with Asian markets trading higher, and US futures indicating a positive opening. The investors were optimistic about the global economic recovery and the central banks’ accommodative stance.

Another factor that supported the market was the sustained FII inflows, which continued for the eighth consecutive session. The foreign institutional investors have been net buyers in the Indian market, indicating their confidence in the Indian economy and markets.

The positive earnings report from the companies also supported the market. Several companies, including HDFC Life Insurance, reported better-than-expected earnings, which boosted investor sentiment.

Markets at 10am

Bombay Stock Exchange (SENSEX)and NIFTY indices, has been on an upward trajectory in recent times. As of 10:03 AM on March 22, 2023, the SENSEX stood at 58,208.21, up 133.53 points or 0.23%, while the NIFTY was at 17,150.75, up 43.25 points or 0.25%.

Indices such as the Nifty Midcap 100, S&P BSE SmallCap, Nifty IT, and Nifty Bank have also witnessed positive growth, with gains of 0.52%, 0.75%, 0.43%, and 0.15%, respectively, over the past day.

While the market has been trending upwards, it is important to keep an eye on both the gainers and losers to make informed investment decisions. In terms of top gainers, Bajaj Finance, Bajaj Finserv, Tata Consumer, and Hindalco have all performed well, with gains of 2.42%, 2.06%, 1.92%, and 1.90%, respectively.

Top Gainers at 10am

NamePriceChg%ChgVol (‘000s)
Bajaj Finance5,848.05137.952.42%502.76
Bajaj Finserv1,296.9028.802.27%570.69
Tata Consumer715.0014.102.01%302.54
Hindalco395.907.351.89%1,530.23
SBI Life1,116.6518.951.73%711.73
HDFC Life490.858.101.68%1,538.97
L&T2,239.3030.851.40%748.36
RELATED ARTICLES
- Advertisment -