Stock market today: BSE Sensex and Nifty50, the Indian benchmark stock indices, were in green on Wednesday witnessing a positive day amidst market volatility. The BSE Sensex surged by over 500 points and Nifty50 crossed the 22,150 mark. At 10:47 AM, BSE Sensex was trading at 72,966.52, up over 495 points or 0.68%. Nifty50 was at 22,152.05, up 147 points or 0.67%.
Leading the gains were Maruti Suzuki and Reliance Industries, both rising over 1%.Financial stocks like Axis Bank, Bajaj Finance, and others also opened on a positive note. However, some stocks like Wipro and Infosys witnessed a lower opening.
Central Depository Services (CDSL) shares faced a 6.4% decline following Standard Chartered Bank’s sell-off. Adani Power rose by over 4% after receiving approval for an acquisition.
In sector-wise performance, Nifty Oil & Gas and Nifty Medis recorded gains of 1.6% and 1.3% respectively. The broader market also saw positivity with Nifty Smallcap100 and Midcap100 gaining 0.7% and 0.5% respectively.
Financial experts anticipate a consolidation phase in the market before a new trend in April, driven by bullish economic fundamentals. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services noted the rise in retail investor interest in midcap stocks due to lower institutional selling pressure.
Global markets, however, showed a different trend with Wall Street and Asian markets experiencing losses. Foreign investors bought Indian shares worth Rs 10.13 crore while domestic institutions purchased stocks amounting to Rs 5,024 crore. Crude oil prices fell due to increased US stockpiles and unchanged output policies by major producers. The Indian rupee weakened against the US dollar, and the dollar index rose marginally.
Leading the gains were Maruti Suzuki and Reliance Industries, both rising over 1%.Financial stocks like Axis Bank, Bajaj Finance, and others also opened on a positive note. However, some stocks like Wipro and Infosys witnessed a lower opening.
Central Depository Services (CDSL) shares faced a 6.4% decline following Standard Chartered Bank’s sell-off. Adani Power rose by over 4% after receiving approval for an acquisition.
In sector-wise performance, Nifty Oil & Gas and Nifty Medis recorded gains of 1.6% and 1.3% respectively. The broader market also saw positivity with Nifty Smallcap100 and Midcap100 gaining 0.7% and 0.5% respectively.
Financial experts anticipate a consolidation phase in the market before a new trend in April, driven by bullish economic fundamentals. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services noted the rise in retail investor interest in midcap stocks due to lower institutional selling pressure.
Global markets, however, showed a different trend with Wall Street and Asian markets experiencing losses. Foreign investors bought Indian shares worth Rs 10.13 crore while domestic institutions purchased stocks amounting to Rs 5,024 crore. Crude oil prices fell due to increased US stockpiles and unchanged output policies by major producers. The Indian rupee weakened against the US dollar, and the dollar index rose marginally.
Credit
1: https://timesofindia.indiatimes.com/business/india-business/stock-market-today-bse-sensex-nifty50-march-27-2024-indian-equities-dalal-street-top-reasons/articleshow/108806014.cms
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