HomeBusinessStock Market Close Update: Sensex 364 pts up; Nifty settles above 17,050...

Stock Market Close Update: Sensex 364 pts up; Nifty settles above 17,050 on F&O expiry.


On Wednesday, Indian shares rallied, led by financials and mirroring the increase in their Asian counterparts. The surge in risk appetite was fueled by the easing concerns about the global banking turmoil. Additionally, stocks of Adani group rebounded. Twelve of the 13 major sectoral indices advanced, including the heavyweight financials index, which rose by 0.8%. Bajaj Finance, Bajaj Finserv, HDFC, and HDFC Bank were among the leading gainers.

According to brokerage Jefferies, the market’s recent correction made valuations more reasonable. Since the collapse of Silicon Valley Bank in mid-March, the Nifty 50 has fallen by over 2%, while the financials index has dropped by 0.58%. Due to a liquidity crunch and a lack of immediate triggers, analysts expect the volatility to continue in the near term.

In the meantime, Adani group companies gained after Tuesday’s dip, which followed a report that the conglomerate was renegotiation its debt. However, the group has since denied the report.

Adani Enterprises and Adani Ports rose by about 5%, and Mahindra and Mahindra jumped nearly 2% after ICICI Securities upgraded the stock to “buy.” Bajaj Auto rose over 1% after JP Morgan reiterated its “overweight” rating on the stock. Analysts anticipate elevated volatility as the March derivatives series approaches its monthly expiry.


The stock market is currently experiencing volatility, with indices giving up earlier gains and trading flat. Max Financial and Adani Enterprises are among the most active stocks on the Bombay Stock Exchange (BSE), along with Adani Green Energy, Adani Ports, and Adani Power.


The S&P BSE Sensex index opened higher today, up by 265.94 points or 0.46% at 57,879.66 as of 10:24 AM on March 29, 2023. This is an improvement from its previous close of 57,613.72. The index opened at 57,572.08 and has since reached a high of 57,892.24. The low for the day stands at 57,569.36.


  1. South Indian Bank shares plummeted, experiencing their largest drop in over 27 months, as the Managing Director and CEO refused to be re-elected.
  2. HCC has completed the sale of Baharampore-Farakka highways for a sum of Rs 1,323 crore.
  3. Shree Cement reported that dispatches have normalized following an IT security incident.
  4. Adani Group Company stocks opened with a mixed performance.
  5. The Nifty 50 Index is being moved by some of the top-performing stocks.


Indian equity benchmarks opened higher today, following a mixed pre-open session on Wednesday. Across Asia, a rally in Hong Kong stocks drove up demand for Chinese technology shares after news of a planned revamp of Alibaba Group Holdings Ltd. This momentum was felt in Japanese and Australian equities as well. Meanwhile, U.S. equity futures advanced, effectively reversing a decline from Tuesday.

However, a slide in technology shares put an end to a three-day advance in U.S. stocks, as investors adjusted their bets on the Federal Reserve’s future plans for interest rates. On Tuesday, the Nasdaq 100 dropped 0.5%, reducing its advance in March to 4.7%, with tech giants such as Apple Inc. and Alphabet Inc. contributing to the decline. At pre-open, the S&P BSE Sensex Index was down 42 points or 0.07% at 57,572.08, while the NSE Nifty 50 Index was up by 26 points or 0.15% at 16,977.30.

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