Market Wrap: Sensex Closes Above 75,300 Mark, Nifty Gains 325 Points To Close At 22,834 Level

Indian stock markets opened on an optimistic note on March 18, as the benchmark Sensex and Nifty opened in the green. Later in the day, the Sensex rallied 1,215.81 points to hit an intraday high of 75,385.76 levels. The 50-share Nifty also climbed above the 22,800 level at the day’s high.

Benchmark Indices Extend Gains

The Nifty closed higher by 325.55 points or 1.45 per cent at 22,834.3 levels and the Sensex closed higher by 1131.31 points or 1.53 per cent at 75,301.26 levels. Notably, the benchmark indices have now extended gains for two straight sessions after closing in the green on March 17.

Top Gainers And Losers

As many as 47 constituents of the 50-share Nifty index closed in the green. ICICI Bank, Larsen & Toubro and Shriram Finance emerged as top gainers closing higher by up to 3.35 per cent. On the other hand constituents of the Nifty 50 such as Bajaj Finserv, Tech Mahindra and Bharti Airtel declined at the close by as much as 1.34 per cent.

Broader Market Indices Close 2 Per Cent Higher

All major sectoral indices closed in the green. However, the Nifty Realty index gained the most among the sectoral pack, closing 3.16 per cent higher. The Nifty Midcap 100 and the Nifty SmallCap 100 closed higher by up to 2.71 per cent.

Global Markets

Asian indices such as the Hang Seng index closed at 24,740.57 levels up by 2.46 per cent. On the other hand, the Dow Jones Industrial Average closed flat, up by 0.85 per cent on March 17. The S&P 500 also closed flat, up by 0.64 per cent.

Primary Market Action

Shares of PDP Shipping & Projects Ltd were listed at Rs 108.25 on the BSE on March 18. The stock is listed at a discount of 19.81 per cent from the initial public offer (IPO) price of Rs 135 apiece.

Cues To Watch

The US Federal Reserve began its two-day meeting to review interest rates. The policy decision taken by the Central Bank will be announced on March 19.

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