Market Wrap: Sensex And Nifty Close Over 1 Per Cent Higher As Benchmark Indices Surge For Fourth Straight Day

Indian stock market investors breathed a sigh of relief as the market continued to gain for the fourth straight day on March 20. The benchmark indices closed in the green as the Sensex gained over 1 per cent at the close. The Sensex closed at 76,348.06 levels up by 899.01 points or 1.19 per cent. The Nifty closed 23,190.65 level up by 283.05 points or 1.24 per cent.

Top Gainers And Losers On March 20

As the benchmark indices continued their gaining spree, as many as 44 constituents of the Nifty 50 index gained in today’s trade. On the other hand, four stocks declined and two remained unchanged.

Shares of Bharti Airtel Ltd, Titan Ltd and Eicher Motors Ltd closed higher by as much as 4.08 per cent and emerged as top Nifty gainers. IndusInd Bank, Bajaj Finance, Trent and Shriram Finance shares emerged as top drags falling as much as 1.11 per cent.

All Sectoral Indices Close Higher

All major sectoral indices closed higher on March 20 amid an overall recovery on D-street. The Nifty Oil & Gas and the Nifty Auto closed higher by over 1.59 per cent and 1.42 per cent. Notably, the broader market indices also continued to gain as the Nifty SmallCap 100 and the Nifty MidCap 100 closed higher.

Global Markets

US Markets closed in the green with key indices such as the Dow Jones Industrial Average, S&P 500 and Nasdaq closing up to 1.41 per cent higher. On the other hand, Asian indices such as the Hang Seng and the Shanghai Composite closed lower by 2.28 per cent and 0.51 per cent respectively.

Primary Market Action

Grand Continent Hotels IPO opened for subscription today. The hotel chain plans to raise Rs 74.46 crore via its book-built issue.

Cues To Watch

The US Federal Reserve kept rates unchanged. However, uncertainty regarding Donald Trump's policy moves continues to prevail. Notably the Federal Reserve has also forecast a slower pace of economic growth and higher inflation for the US.