Synopsis
On March 26, the domestic benchmark indices experienced a flat opening, with the Sensex trading above 78,000, supported by positive global cues and early buying in the realty sector. Market analysts highlight significant levels for the Nifty, indicating a bullish trend.Key Takeaways
- Sensex opened at 78,095.38 with a gain of 78.19 points.
- Nifty rose to 23,715.45 with a 46.80 points increase.
- Top gainers in the Sensex included PowerGrid and Bajaj Finserv.
- FIIs purchased equities worth Rs 5,371.57 crore.
- The US markets showed slight gains, signaling investor confidence.
Mumbai, March 26 (NationPress) The domestic benchmark indices commenced the trading day on a steady note on Wednesday, buoyed by optimistic global signals, with noticeable buying activity in the real estate sector during the early session.
At approximately 9:29 AM, the Sensex was up by 78.19 points or 0.10 percent, reaching 78,095.38, while the Nifty gained 46.80 points or 0.20 percent, standing at 23,715.45.
The Nifty Bank index rose by 50.35 points or 0.10 percent, reaching 51,658.30. Meanwhile, the Nifty Midcap 100 index traded at 52,082.25, having increased by 112.50 points or 0.22 percent. The Nifty Smallcap 100 index was recorded at 16,088.95, experiencing a decrease of 19.95 points or 0.12 percent.
Market analysts observed that the Nifty attempted to surpass its previous peak of 23,807 but was unable to maintain that level.
“The hourly high of 23,869 will serve as a significant swing high in the upcoming period. A close above 23,869 could propel the Nifty towards 24,220. The overall trend remains optimistic as the Nifty trades above 40HEMA 23,323, ” stated Vikram Kasat, Head-Advisory at PL Capital.
In the Sensex group, top gainers included PowerGrid, Bajaj Finserv, M&M, Bajaj Finance, Bharti Airtel, IndusInd Bank, Tata Motors, and ICICI Bank. Conversely, the biggest losers were Zomato, UltraTech Cement, Titan, Maruti Suzuki, Asian Paints, Kotak Mahindra Bank, and Hindustan Unilever Limited.
In the previous trading session, the Dow Jones in the US increased by 0.01 percent, closing at 42,587.50. The S&P 500 rose by 0.16 percent to 5,776.65, while the Nasdaq saw a gain of 0.46 percent, closing at 18,271.86.
Experts noted that US investors appeared to overlook recent negative consumer confidence news, perhaps taking cues from Federal Reserve officials who expressed minimal concerns.
While consumers were expected to cool off in early 2025 after a robust end to the previous year, these figures heighten the risk of a more substantial halt in expenditures, they cautioned.
In Asian markets, stocks in Hong Kong, China, Japan, Seoul, Jakarta, and Bangkok were performing well.
Regarding institutional activity, foreign institutional investors (FIIs) bought equities worth Rs 5,371.57 crore on March 25, while domestic institutional investors (DIIs) sold equities valued at Rs 2,768.87 crore on the same day.
