Markets Close at 03:30 PM
At the end of the trading session, the Sensex closed with a decrease of 40.14 points or 0.07% at 57,613.72, while the Nifty closed down 34 points or 0.20% at 16,951.70. Among the Nifty stocks, 1,020 advanced, 2,438 declined, and 97 remained unchanged. Adani Enterprises, Adani Ports, Tech Mahindra, Tata Motors, and Hero MotoCorp were among the top losers, while IndusInd Bank, UPL, Power Grid Corporation, Dr. Reddy’s Laboratories, and HDFC Bank were among the top gainers
Markets at 12:15 PM
12:10 PM on March 28th, the S&P BSE Sensex is trading at 57,662.90, up 9.04 points or 0.02% from its previous close. The index opened at 57,751.50 and recorded a high of 57,949.45, while its lowest point for the day so far is 57,524.07.
On Tuesday, Indian shares initially rose but later reversed gains due to concerns about broader economic challenges, with all 13 major sectoral indices declining, particularly the oil and gas stocks, which lost nearly 1%. While the financial troubles in key US and European banking entities are easing, investors are still cautious, and they are waiting for key economic data due later this week, including GDP and jobs data from the US. This data could provide insight into the impact of the US Federal Reserve’s monetary policy action on inflation and growth.
Market Opens at 9:15 AM
In the opening bell, the Sensex rose by 150 points and the Nifty crossed 17,000 mark, with Paytm shares gaining 2% and Adani Green shares falling by 4%. Meanwhile, the Indian rupee also showed strength in early trade, rising by 15 paise to 82.16 against the US dollar.
Investors are expecting negative sentiment in the short term ahead of this data. Until corporate earnings improve, the markets are likely to be range bound. However, there were some positive individual stock movements, including Paytm, which rose nearly 3%, and PNC Infratech and Dilip Buildcon, which both gained after being declared lowest bidders for highway projects worth billions of rupees. On the other hand, Kalyan Jewellers lost over 8% after a media report said that Warburg Pincus-owned Highdell Investment plans to sell a 2.5% stake in the company through a block deal.