Stock Market Highlights: Nifty closes above 23,100 after 26 sessions, Sensex up 840 points

The domestic markets closed on a positive note for the fourth session. The Nifty 50 closed 258 points or 1.13% higher at 23,166 while the Sensex jumped 842 points or 1.12% to end at 76,291.

Bharti Airtel, Titan, Britannia, BPCL, and Bajaj Auto were the top gainers in the Nifty 50. IndusInd Bank, Bajaj Finance, Trent, and Shriram Finance were the major losers in the Nifty 50.

Top gainers at the hour include Titan, up 3.5%, Eicher Motors up 2.8%, Bharti Airtel up 2.7%, along with Bajaj Auto and BPCL. On the flip side, the laggards include Bajaj Finance, UltraTech Cement, Apollo Hospitals, L&T, and IndusInd Bank.

In the afternoon trade, Indian equity markets extended their gains, with the Sensex surging 803.53 points or 1.06% to 76,252.58, while the Nifty advanced 169.55 points or 0.74% to 23,077.15.

The share price of Eicher Motors rose 3% to an intra-day high of Rs 5,258.95. The stock was the top gainer in the Nifty 50. The Nifty Auto was trading in the green today.

The Nifty market saw active participation with 2,865 stocks traded on the exchange. Advances outpaced declines, with 1,886 stocks gaining while 910 stocks slipped into the red and 69 remained unchanged. Market volatility was evident as 33 stocks hit their 52-week high, while 42 touched a 52-week low. 146 stocks locked in the upper circuit, whereas 34 stocks hit the lower circuit.

Bharti Airtel is the top gainer in the Nifty 50, with its shares trading 2.15% higher in intraday trading. Year-to-date (YTD), the stock has gained nearly 5%.

“Favoured view expects volatility within the 23100-22730 band, with a pull back below 22800 favoured as the sizeable move as long as early upticks do not clear 23100. Meanwhile, we continue to eye 23807 as the short term target, with intermediate resistance spotted in the 23460-500 vicinity. However, slippage below 22730 could signal a near term down move,” said Anand James, Chief Market Strategist, Geojit Financial Services.

As of the latest, the top gainers in the Nifty 50 at this hour include Bharti Airtel, M&M, TCS, HCL Tech, and Eicher Motors. On the other side, Bajaj Finance, Trent, Apollo Hospital, L&T, and Tata Steel.

“The Fed holding the rates and projecting lower growth at 1.7% and higher inflation at 2.8% for 2025 are on expected lines. More significant is the Fed chief’s comment that policy can move either way depending on the evolving outlook. The evolving outlook is highly uncertain thanks to Trump’s tariff tantrums,” said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

The Indian benchmark indices, Sensex and Nifty, opened on a positive note, with the Sensex rising 0.62% to 75,917.11 and the Nifty trading in the green at 22,999, up 0.4%.

“This Thursday’s trading revolves around the Federal Reserve keeping the funds rate steady at 4.25%-4.5%, continuing its pause on rate cuts that began in January. Despite the uncertainties stemming from President Trump’s tariffs and fiscal policies, the Fed projects two quarter-point rate cuts in 2025. Nifty is expected to rise today, with bullish consolidation likely even as new growth and inflation forecasts catch markets by surprise,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Ola Electric Mobility is set to be in the spotlight today as the Ministry of Heavy Industries has raised concerns over a significant discrepancy between the company’s reported sales figures and actual vehicle registration data. The government has sought an explanation from the EV maker, putting the company under scrutiny at a time when it is gearing up for its public listing.

Wall Street wrapped up the day on a positive note, with all three major US indices rebounding from recent losses. The S&P 500 surged by 1.08% to close at 5,675.29. The Dow Jones gained 0.92%, settling at 41,964.63, while the Nasdaq Composite led the rally with a 1.41% jump, finishing at 17,750.79.

Indian benchmark indices closed in the green on March 19 with Sensex rising 0.20% to 75,449.05 and the Nifty gaining 0.32% to settle at 22,907.60.

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