Market Wrap: Headline Indices End Gaining Spree As Sensex And Nifty Close In Red

The Indian stock market traded under pressure on March 26, putting an end to a seven-session gaining spree. Both the headline indices closed flat with a negative bias. The Sensex shed 728.69 points, or 0.93 per cent to close at 77,288.5 levels. The Nifty 50 index also closed lower at 23,486.85 levels, down by 181.8 points, or 0.77 per cent.

Top Gainers And Losers On March 26

As many as 40 out of the 50 constituents of the Nifty 50 index declined on March 26. Shares of NTPC Ltd, Tech Mahindra Ltd, Cipla Ltd, Axis Bank, and Bajaj Finance declined the most. NTPC emerged as the top-drag falling 3.52 per cent at the close. Shares of IndusInd Bank Ltd, Trent Ltd, Hero MotoCorp, Grasim, and Power Grid Corporation of India Ltd bucked the trend and emerged as top gainers. IndusInd Bank shares gained the most, closing 3.34 per cent higher.

Major Sectoral Indices Close In Red

Most major sectoral indices closed in the red on March 26. Nifty Oil and Gas, Nifty IT and the Nifty Bank index declined the most among the sectoral pack, closing lower by as much as 1.36 per cent. Broader market indices also closed in the red, with the Nifty SmallCap 100 and Nifty MidCap 100 closing lower by as much as 1.07 per cent.

Global Markets

US stock market indices closed in the green on March 25 as the Dow Jones Futures, S&P 500, and Nasdaq all closed higher by up to 0.46 per cent. Asian indices traded mixed, with the Hang Seng closing higher by 0.59 per cent and Japan’s Nikkei closing higher by 0.65 per cent. However, the Shanghai Composite index closed lower by 0.04 per cent.

Primary Market Action

Identixweb IPO opened for subscription on March 26. On the other hand, Desco Infratech’s public issue closed for bidding.

Cues To Watch

As the financial year nears its end, many companies are slated to hold meetings on March 27. Some of the notable names include Union Bank, Hyundai, and GMR Airports.

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