Indian Stock Market Rises Amid Volatile Trading, Sensex Surpasses 78,000
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Synopsis
On March 25, the Indian stock market managed to remain positive for the seventh consecutive session, although it lost some initial gains during a volatile trading day. The Sensex closed above 78,000, reflecting slight increases, while the Nifty showed minimal movement.
Key Takeaways
- Sensex closed at 78,017.19, up 0.04%.
- Nifty settled at 23,668.65, only a slight increase.
- Majority of stocks faced selling pressure.
- IT sector was the only gainer.
- Market sentiment remains cautious.
Mumbai, March 25 (NationPress) The Indian stock market on Tuesday succeeded in remaining in the green for the seventh consecutive session, even though it relinquished many of its initial gains amid volatile trading.
The Sensex, which reached an intra-day peak of 78,741.69, ultimately closed at 78,017.19, reflecting an increase of 32.81 points or 0.04 percent.
In a similar vein, the Nifty concluded nearly unchanged at 23,668.65, rising by just 10.30 points or 0.04 percent. During the trading session, the Nifty fluctuated between 23,869.60 and 23,627.55.
Despite the marginal increases in the indices, market sentiment remained subdued, with a majority of stocks facing selling pressure.
Out of all stocks traded, 1,019 advanced, while 2,868 declined, and 107 remained stable.
On the sectoral front, the IT sector was the sole gainer, whereas other indices such as auto, capital goods, consumer durables, metal, oil and gas, power, PSU banks, realty, and telecom experienced declines ranging from 1 percent to 1.5 percent.
Top gainers on the Nifty included UltraTech Cement, Trent, Bajaj Finserv, Infosys, and Grasim Industries.
Conversely, IndusInd Bank, Dr Reddy’s Labs, and Coal India were among the significant losers.
The broader market also faced a downturn, with the BSE Midcap index dropping by 1 percent, while the BSE Smallcap index fell by 1.6 percent.
Among the sectoral indices, only the Nifty IT index concluded in the green, while all others saw declines, with the most significant sectoral losses reaching up to 2.16 percent.
Market analysts suggest that cautious investor sentiment and profit-taking contributed to the choppy session, while global market trends and upcoming economic data are expected to continue influencing market movements in the near future.
According to Vikram Kasat, Head-Advisory at PL Capital-Prabhudas Lilladher, the market’s winning streak has now extended to seven consecutive sessions, with the Nifty closing above 23,600 and the Sensex rallying over 1,000 points.
“Attention now turns to the forthcoming US GDP growth report for the fourth quarter, set to be released on March 27, along with any new information regarding trade tariffs,” he stated.
