Moneycontrol PRO
HomeNewsBusinessMarketsTaking Stock: Bulls back in action; Nifty above 22,100, Sensex gains 526 points

Taking Stock: Bulls back in action; Nifty above 22,100, Sensex gains 526 points

Biggest gainers on the Nifty were RIL, Maruti Suzuki, Bajaj Auto, Bajaj Finance and Titan Company, while losers included Hero MotoCorp, Tata Consumer Products, Apollo Hospitals, Dr Reddy's Labs and Wipro

March 27, 2024 / 17:36 IST
Among sectors, auto, bank, capital goods, power, realty, telecom up 0.5-1 percent, while metal, IT, media down 0.3-0.5 percent.

The market erased previous session's losses helped by buying in heavyweights and auto, realty, power and capital goods stocks on March 27.

At close, the Sensex was up 526.01 points, or 0.73 percent, at 72,996.31, and the Nifty was up 119 points, or 0.54 percent, at 22,123.70.

Amid mixed global cues, the market opened on a positive note and extended gains as the day progress led by narrowed Current Account Deficit (CAD) at $10.5 billion in the third quarter and buying in heavyweights.

Biggest gainers on the Nifty were Reliance Industries, Maruti Suzuki, Bajaj Auto, Bajaj Finance and Titan Company, while losers included Hero MotoCorp, Tata Consumer Products, Apollo Hospitals, Dr Reddy's Labs and Wipro.

Among sectors, auto, bank, capital goods, power, realty, telecom were up 0.5-1 percent, while metal, IT, media down 0.3-0.5 percent.

The BSE midcap index ended on a flat note and the smallcap index gained 0.7 percent.

Among individual stocks, a volume spike of more than 200 percent was seen in Zee entertainment, Tata Chemicals and Biocon.

A long build-up was seen in ABB India, Info Edge and Metropolis Healthcare , while a short build-up was seen in REC, Colgate Palmolive and Piramal enterprises.

IndexPricesChangeChange%
Sensex85,186.47513.45 +0.61%
Nifty 5026,052.65142.60 +0.55%
Nifty Bank59,216.05316.80 +0.54%
Nifty 50 26,052.65 142.60 (0.55%)
Wed, Nov 19, 2025
Biggest GainerPricesChangeChange%
Max Healthcare1,164.4047.70 +4.27%
Biggest LoserPricesChangeChange%
TMPV360.85-10.45 -2.81%
Best SectorPricesChangeChange%
Nifty IT37044.701069.50 +2.97%
Worst SectorPricesChangeChange%
Nifty Energy36132.30-91.50 -0.25%

ABB India, Arvind Smart, Bajaj Auto, Bharat Bijlee, CG Power, Cummins India, Dixon Technologies, Info Edge, Lakshmi Machine Works, Mankind Pharma, Maruti Suzuki, Oracle Financial Services, Rico Auto, Sanghvi Movers, Siemens, Star Cement, Thermax, Time Technoplast, Torrent Power, Voltamp Transformers among other stocks, which tested their 52-week high on the BSE. Click to view full list

Outlook for March 28

Aditya Gaggar Director of Progressive Shares

Diverging from their weak counterparts, Indian equities started the session on a strong note and compounded their gains under the leadership of select heavyweights; however, towards the end of the day, the Index pared off some of its gains to settle the day at 22,123.65 with gains of 118.95 points. Realty and Energy were the top performers on a sector-wise performance while PSU Banks and IT were the laggards.

A mixed trend was seen in the broader markets where Midcaps underperformed while Smallcap gained over 0.90% and outshined Nifty50. As indicated yesterday, the Index has formed an Inverted Head & Shoulder formation and now awaiting a breakout for the target of 22,640 while on the lower side, 21,900 will continue to act as a strong support.

Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

The Nifty opened gap up and continued to inch higher throughout the day to close with gains of ~119 points. On the daily charts we can observe that the Nifty is inching towards 22200 – 22215 where multiple resistance parameters are placed. We believe that the retracement rally has more steam left and we expect the momentum to continue. Daily and hourly momentum indicator is providing divergent signals which can lead to a consolidation and hence in case of a dip towards 22100 – 22060 it should be used as a buying opportunity for target of 22215 - 22250.

Bank Nifty is consolidating within the range of 46500 – 47000 since last four trading sessions. A breach of this range shall lead to trending moves in that direction. We expect it to break out on the upside and expect levels of 47270 – 47300 from short term perspective and hence one can go long with a stoploss of 46530.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Rakesh Patil
first published: Mar 27, 2024 03:42 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347