Nifty, Sensex end higher on buying in realty, infra stocks; analysts advise wait-and-watch stance

On March 27, the Sensex was up 526.01 points or 0.73 percent at 72,996.31, and the Nifty was up 119.00 points or 0.54 percent at 22,123.70. About 1449 shares advanced, 2243 shares declined, and 106 shares unchanged.

Indian benchmark indices closed firmly in the green on March 27, buoyed by buying in infra, realty stocks. Stock-specific actions and positive undercurrents due to a healthy economic growth forecast led the market towards a positive closure.

The Sensex closed 526.01 points, or 0.73 percent, higher at 72,996.31, and the Nifty ended 119 points, or 0.54 percent, up at 22,123.70.

"Due to the holiday-led truncated week, investors are now focusing on US GDP data tomorrow and next week’s RBI policy announcement to gauge market direction," said Vinod Nair, Head of Research, Geojit Financial Services.

Given the shortened trading week, and upcoming global economic data, analysts advised investors to adopt a cautious wait-and-watch stance in the near term.

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Sectorally, Nifty Realty led the gains, rising nearly over 1 percent. Nifty PSU Banks, Infra, Energy, Auto and Bank also ended with gains of up to 0.6 percent. Meanwhile, Nifty PSU Bank, FMCG, IT, Metal, Pharma and Media ended in the red.

A reasonable bounce in mid-cap and small-cap (~5 percent from March 15 lows) also seen as buying improved led by continued DIIs & FIIs inflows and investors got bargaining opportunities, but volumes are low, said analysts.

In a truncated week,  Jaykrishna Gandhi of Emkay Global Financial Services expects the short-term trend in Nifty to be positive. "A sharp move above the hurdle of 22,200-22,300 could pull Nifty towards new all-time highs around 22,550 levels, he said.

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