Synopsis
On March 13, the Indian stock market rose amid mixed global cues, with the Sensex and Nifty showing positive movements. Key sectors like Financial Services and PSU Banks witnessed buying interest. Market experts recommend caution as traders await clearer price signals.Key Takeaways
- Sensex rose by 61.17 points to 74,090.93
- Nifty gained 2.15 points, trading at 22,472.65
- Top gainers included IndusInd Bank and Tata Steel
- Investors advised to exercise caution
- FIIs sold equities worth Rs 1,627.61 crore
Mumbai, March 13 (NationPress) The Indian equity benchmark indices began the day on a positive note on Thursday, buoyed by mixed global signals, with notable buying activity in the Financial Services and PSU Bank sectors during the initial trading hours.
At approximately 9:31 am, the Sensex was up by 61.17 points or 0.08 percent, reaching 74,090.93, while the Nifty gained 2.15 points or 0.01 percent to trade at 22,472.65.
The Nifty Bank index rose by 113.10 points or 0.24 percent, standing at 48,169.75. However, the Nifty Midcap 100 index saw a slight decline of 49.80 points or 0.10 percent, trading at 48,436.80. Meanwhile, the Nifty Smallcap 100 index was at 14,981.45, down 62.90 points or 0.42 percent.
Market analysts predict that Indian equity markets would open with a flat to mildly bullish trend, as indicated by the GIFT Nifty, which was trading around 22,570 in early trades, reflecting a modest increase of 25 points.
“This indicates a cautious market sentiment, swayed by global cues and the lack of strong domestic catalysts. Investors will need to keep a close eye on global trends, crude oil prices, and institutional flows to determine market direction,” said Hardik Matalia from Choice Broking.
In the Sensex pack, major gainers included IndusInd Bank, Tata Steel, Zomato, Bajaj Finserv, ICICI Bank, Tech Mahindra, Infosys, and SBI, while leading losers were Hindustan Unilever Limited, Sun Pharma, Tata Motors, UltraTech Cement, and Asian Paints.
Experts advise that given the current market dynamics, traders should proceed with caution and wait for confirmation of price movements at key levels before making new investments.
In the previous trading session, the Dow Jones decreased by 0.20 percent, closing at 41,350.93. The S&P 500 increased by 0.49 percent to 5,599.30, while the Nasdaq rose by 1.22 percent, ending at 17,648.45.
Across Asian markets, Bangkok, Japan, Seoul, and Jakarta showed positive performance, whereas China and Hong Kong experienced declines.
Regarding institutional trading, foreign institutional investors (FIIs) sold off equities worth Rs 1,627.61 crore on March 12, while domestic institutional investors (DIIs) purchased equities amounting to Rs 1,510.35 crore on the same day.
