Benchmark indices started the week on strong note, with the Nifty 50 rising 0.5 percent to close above 22,500 on a day of supportive global cues with weak market breadth.
At close, the Sensex was up 341.04 points or 0.46 percent at 74,169.95, and the Nifty was up 111.55 points or 0.50 percent at 22,508.75. BSE Midcap index ended up 0.7 percent and smallcap index ended on a flat note.
Earlier in the day, tracking supportive global markets, key indices opened higher but witnessed some profit booking at higher levels.
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On the sectoral front, auto, bank, metal, power, pharma rose 0.5-1.5 percent, while realty, media were down 0.5 percent each.
Bajaj Finserv, SBI Life Insurance, Dr Reddy's Labs, Trent, Axis Bank were among the top gainers on the Nifty, while losers included Britannia, Hero MotoCorp, Wipro, BPCL, ITC.
Nearly 490 stocks touched 52-week low on the BSE, including G R Infraprojects, Happiest Minds, Route Mobile, Varroc Engineering, Sonata Software, Mahindra Life, Apar Industries, Vedant Fashions, NMDC Steel, Rajesh Exports, Sheela Foam, Balaji Amines, CCL Products, LTIMindtree, TTK Prestige, Sundram Fasteners, Cera Sanitaryware, AU Small Finance Bank, Nuvoco Vistas, Galaxy Surfactants, among others. Click here to view more
Outlook for March 18
Aditya Gaggar Director of Progressive Shares
The market experienced a rangebound session after a strong opening, with the Index ultimately closing at 22,508.75 with gains of 111.55 points. The Pharma and Auto sectors were the top performers, while Media and Realty lagged. Mid and Smallcaps followed a similar pattern to the Frontline Index.
On the daily chart, the Nifty50 formed a bullish marubozu candlestick pattern, indicating a continuation of the current trend. However, the upside appears to be capped at 22,620, while the downside is protected at 22,320. A breakout beyond either of these levels would provide a directional trend for the market.
Vaibhav Vidwani, Research Analyst at Bonanza
Today, the Indian stock market closed on a positive note, with the BSE Sensex ending at approximately 74,189, up by about 341 points, and the Nifty50 closing at around 22,508, gaining 111 points. This uptrend was supported by a rebound in global markets and positive domestic macroeconomic indicators, such as a GDP growth rate of 6.2% for Q3 FY25 and a decline in February CPI inflation to 3.61%.
Sector-wise, Nifty Pharma and Healthcare led the gains with a 1.56% increase, followed by Nifty Metal. However, IT stocks like Infosys and Wipro remained under pressure, falling by 6% and 7% respectively over the past week.
The market's near-term trend is expected to remain stable with a positive bias, though global uncertainties and trade tensions could impact sentiment. Key stocks like IndusInd Bank and Apollo Hospitals were in focus, with IndusInd Bank recovering some ground after a significant drop earlier in the week.
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