Sensex and Nifty See Gains for Third Day, Midcap Stocks Lead
Click to start listening
Synopsis
On March 19, the Indian stock markets witnessed gains for the third consecutive session, with the Sensex and Nifty both closing higher. Key midcap stocks outperformed, reflecting positive market sentiment amidst global cues and developments.
Key Takeaways
- Sensex reached 75,449.05, up 147.79 points.
- Nifty closed at 22,907.60, gaining 73.30 points.
- 33 out of 50 Nifty stocks ended positively.
- The Nifty Midcap100 and Nifty Smallcap100 rose over 2 percent.
- The Indian rupee strengthened, closing at 86.44 per dollar.
Mumbai, March 19 (NationPress) The Indian stock markets maintained their upward trajectory on Wednesday, marking the third consecutive day of gains as both the Sensex and Nifty closed in the green.
The 30-share Sensex reached an intra-day peak of 75,568.38 before concluding at 75,449.05, an increase of 147.79 points or 0.20 percent from its last closing.
In a similar fashion, the Nifty wrapped up the day at 22,907.60, gaining 73.30 points or 0.32 percent. During the trading session, the index fluctuated between 22,940.70 and 22,807.95.
“Investor sentiment remained positive, bolstered by a mix of global signals and renewed hope for a possible resolution to the Russia-Ukraine conflict,” stated Vikram Kasat from PL Capital.
He noted that significant global developments are under scrutiny, including the US Federal Reserve’s policy decision, discussions between Putin and Trump, and a notable rise in gold prices.
Among the Nifty constituents, 33 out of 50 stocks ended positively. Notable gainers included Shriram Finance, HDFC Life, Apollo Hospitals, Tata Steel, and Power Grid Corporation, which saw increases of up to 3.91 percent.
Conversely, Tech Mahindra, Britannia, TCS, Infosys, and Sun Pharma were among the 17 stocks that experienced declines, with losses reaching up to 2.32 percent.
The broader market indices outperformed benchmark indices, with the Nifty Midcap100 and Nifty Smallcap100 rising over 2 percent each, indicating robust momentum in the mid-cap and small-cap sectors.
Most sectoral indices on the NSE ended positively, with the exception of Nifty FMCG and IT, which closed lower.
This performance was preceded by a flat opening with a slight upward trend on Wednesday, despite weakness in global markets.
At the commencement of trading, the Sensex increased by 80.04 points or 0.11 percent to 75,381.30, while the Nifty rose by 15.25 points or 0.07 percent to 22,849.55.
The Indian rupee appreciated by 12 paise on Wednesday, closing at 86.44 per dollar compared to 86.56 in the previous session.
