Market Wrap: Sensex Closes Above 77,600, Nifty Inches Towards 23,600 As Headline Indices Close In Green

Indian stock markets witnessed a brief recovery on March 27 as both the headline indices closed in the green. The Sensex closed at 77,606.43 levels gaining 317.93 points at the close or 0.41 per cent. On the other hand, the Nifty 50 index closed at 23,591.95 levels up by 105.1 levels or 0.45 per cent.

Top Gainers And Losers On March 27

As many as 38 out of the 50 constituents of the Nifty 50 index closed in the green. On the other hand, 12 constituents of the index closed in the red. Hero MotoCorp, Bajaj Finserv, IndusInd Bank and NTPC shares gained the most among Nifty 50 constituents closing up to 3.13 per cent higher. On the other hand, shares of Tata Motors, Sun Pharmaceuticals and Eicher Motors Ltd closed lower by as much as 5.47 per cent.

Major Sectoral Indices Close In Red

All major sectoral indices apart from Nifty Auto and Nifty Pharma closed in the green. The Nifty Auto and the Nifty Pharma index closed lower by as much as 1.04 per cent amid the looming threat of tariff imposition by the US. The broader market indices closed in the green snapping a two-day losing streak. The Nifty SmallCap 100 and the Nifty MidCap 100 closed 1.15 per cent higher.

Global Markets

On March 26, Wall street indices such as the S&P 500 and the Nasdaq closed lower by up to 2.04 per cent. On the other hand, the Dow Jones index closed higher by 0.14 per cent. European markets such as UK’s FTSE, France’s CAC 40 and Germany’s DAX closed lower by 0.91 per cent. Asian indices such as Japan’s Nikkei closed lower while the Shanghai Composite and the Hang Seng index closed higher by up to 0.4 per cent.

Primary Market Action

The public issue of Retaggio Industries Ltd opened for bidding. On the other hand, the ATC Energies System IPO and Shri Ahimsa Naturals IPO closed for subscription. Grand Continent Hotels shares made a flat debut on the NSE SME platform.

Cues To Watch

The US GDP data will be released today on March 27, the impact of the data will be factored in by domestic and global markets in the upcoming sessions.