Stock market today: Nifty 50, Sensex end higher for the third consecutive session; investors earn over ₹2 lakh crore

Sensex opened at 72,231.66 against the previous close of 72,641.19 and touched its intraday high and low of 73,115.62 and 72,172.09 respectively. The index finally closed the day at 72,831.94, up 191 points, or 0.26 per cent.

The Nifty 50 opened at 21,932.20 against the previous close of 22,011.95 and touched its intraday high and low of 22,180.70 and 21,883.30 respectively. The index closed at 22,096.75, up 85 points, or 0.39 per cent.

Shares of Sun Pharma, Maruti Suzuki and IndusInd Bank ended as the top three gainers in the Sensex index. On the flip side, shares of Infosys, Wipro, HCL Tech, TCS and Tech Mahindra ended as the top losers in the index.

Mid and smallcap indices outperformed. The BSE Midcap index rose 0.38 per cent while the Smallcap index jumped 1.06 per cent.

Some 110 stocks, including Bajaj Auto, Bharti Airtel, DMart, Maruti Suzuki, Pidilite Industries and Siemens, hit their fresh 52-week highs in intraday trade on BSE.

The overall market capitalisation of BSE-listed firms rose to nearly ₹382.2 lakh crore from nearly ₹380 lakh crore in the previous session, making investors richer by over ₹2 lakh crore in a single session.

Also Read: Weak Accenture earnings kills all hopes of recovery of Indian IT sector in FY25. Details here

Top Nifty 50 gainers today

As many as 38 stocks in the Nifty 50 index closed higher with shares of Hero MotoCorp (up 3.94 per cent), Maruti (up 3.32 per cent) and Sun Pharma (up 3.25 per cent) ending as the top gainers.

Top Nifty 50 losers today

Shares of LTIMindtree (down 2.94 per cent), Infosys (down 2.78 per cent) and Wipro (down 2.46 per cent) closed as the top losers in the Nifty 50 pack.

Sectoral indices today

Among the sectoral indices, Nifty IT fell 2.33 per cent. Rest all sectoral indices ended higher.

Nifty Realty and Auto rose 1.76 per cent and 1.67 per cent respectively while the Media and Pharma indices rose 1.25 per cent each.

Expert views on markets

“Markets displayed volatility but managed to end higher amid gains in realty, telecom and auto stocks whereas IT stocks faltered sharply after Accenture slashed its full-year revenue guidance which renewed concerns of the sector in an uncertain global environment. FIIs offloading shares of domestic equities coupled with a sharp fall in the currency level has been indicating that the road ahead for equity markets could be bumpy,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

Also Read: Expert view: Expect moderate gains in 6-12 months; General Election key trigger for market, says Rahul Bhuskute

Technical views on Nifty 50

Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas said that the Nifty is in the process of retracing the fall it has witnessed from 22,526 to 21,710. The key retracement levels are placed at 22,118 – 22,214.

“The dip found buying interest at 21,900 – 21,880 where the 20-hour moving average was placed. The retracement process is still not complete and hence the rally can continue. The daily and hourly momentum indicators provide a divergent signal which can lead to consolidation. The range is likely to be 22,200 – 21,900,” said Gedia.

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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 22 Mar 2024, 03:31 PM IST