Stock market LIVE: Global markets rally as US Fed stays the course

Stock market live updates on March 21: The BSE Sensex was up 500 points to 72,652, and the NSE Nifty50 gained 163 points to 22,002

BSE, stock market

Photo: Bloomberg

Opening Bell: Equity benchmark indices opened in green on Thursday tracking upbeat cues from the global markets. Overnight in the US, the Fed kept its interest rates unchanged and stuck on its promise of three rate cuts in the current calendar year. Markets across Asia Pacific rode high on the news.

The BSE Sensex was up 500 points to 72,652, and the NSE Nifty50 gained 163 points to 22,002 levels.

Shares of Nifty oil and gas were up 1.29 per cent in early trade, while Nifty Realty and Nifty FMCG gained 0.62 and 0.48 per cent respectively in early trade.

Individual stocks such IndusInd Bank, Wipro, Tata Steel, Tata Motors, NTPC, Powergrid, Bharti Airtel and SBI were trading in green on the Sensex. On the flip side, AstraZeneca India and Indoco Remedies were among the top losers on BSE.

The broader markets opened higher. The BSE MidCap and SmallCap indices were up by 1.4 and 1.3 per cent respectively.

9:23 AM

Wipro appoints Anne-Marie Rowland as Capco CEO; stock up 1.5%

>> Wipro has appointed Anne-Marie Rowland as Capco’s chief executive officer (CEO). Currently the managing partner of Capco’s business in the UK and Ireland, Rowland will take over as Capco’s CEO from April 1, 2024.

9:21 AM

ALERT :: Broader markers swim in green; Mid, SmallCap indices outperform

9:20 AM

Sectoral trends :: Metals, PSBs lead broad-based gain on D-St

9:19 AM

Sensex Heatmap :: 29 of 30 index stocks surge; Tata, JSW Steel gain up to 2.7%

9:18 AM

Opening Bell :: Nifty reclaims 22,000

9:17 AM

Opening Bell :: Sensex zooms nearly 550 pts in early deals

9:11 AM

Pre-Open Session :: Nifty tests 22,000

9:09 AM

Pre-Open Session :: Sensex rallies over 400 pts

9:05 AM

Commodity check :: Gold hits record high on MCX

9:04 AM

Currency check :: Rupee opens at 83.08/$ Vs Wednesday’s close of 83.17/$

8:49 AM

Democratising equity market is all about digitisation, says Sebi chief Buch

Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch on Wednesday said that democratising the equity market is all about digitisation and enabling easy entry and exit for small investors.

Delivering her address at The Rising Bharat Summit 2024, Buch said that in a large part of any industry, product or service, there are many people who encourage someone to enter. However, the question one needs to ask is whether they have equal access and as much service when they wish to exit. Read more

Madhabi Puri Buch, Sebi chairperson

8:47 AM

Rubber price rise, demand woes could lead to derating of tyre companies

The margins of tyre manufacturers could come under pressure given the rise in rubber prices and the moderating demand for tyres.

In the past three quarters, the revenue growth for listed tyre companies has moderated from low to mid-single-digit on account of factors such as lower demand in replacement segments, weak export markets and the decline in the average selling prices to car makers (OEMs). Read more

JK Tyres

8:41 AM

HUL to decarbonise its supply chain by 2039, use 100% green energy by 2030

“In line with our Unilever commitments at our key manufacturing plants, we will start using 100 per cent green energy by 2030,” Yogesh Mishra, executive director, supply chain at HUL, told Business Standard. Read more

Hindustan unilever, HUL

8:24 AM

Crude oil processing volumes remain steady in Feb at 20.9 MMT: PPAC

Crude oil volumes processed by Indian refiners remained steady in February at 20.9 million metric tonnes (MMT), data released by the Petroleum Planning and Analysis Cell (PPAC) on Wednesday showed. Processed volumes rose by a marginal 0.14 per cent as compared to 20.8 MMT processed in February 2023. On a sequential basis however, volumes fell 7.48 per cent from January’s 22.5 MMT. Read more

Oil, gas, fuel, crude oil

8:18 AM

US Fed keeps key rates unchanged at 5.25%-5.5%

The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the US central bank’s 2 per cent inflation target. Read more

Jerome Powell, US Fed Chair

8:11 AM

Nifty Auto, Nifty Energy: See resistance, support levels for trading action

The Nifty Auto Index, which last closed at 20,406, is encountering significant resistance levels on the charts, anticipated between 20,525 and 20,575. A close above this range would likely trigger a bullish breakout, with the next target resistance projected at 20,825. Read more

8:08 AM

Gold price dips Rs 10 to Rs 66,320, silver falls Rs 100 to Rs 76,900

The price of 24-carat gold dipped Rs 10 in early trade on Wednesday, with ten grams of the precious metal trading at Rs 66,320, according to the GoodReturns website. The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 76,900. Read more

8:06 AM