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HomeNewsBusinessMarketsTaking Stock: Sensex gains 191 points, Nifty at 22,100; auto, realty shine, IT drags

Taking Stock: Sensex gains 191 points, Nifty at 22,100; auto, realty shine, IT drags

Top Nifty gainers included UPL, Maruti Suzuki, Hero MotoCorp, Bajaj Auto and Sun Pharma, while losers were Wipro, Infosys, LTIMindtree, HCL Technologies and TCS

March 23, 2024 / 10:43 IST
Market Today

The equity benchmarks ended higher on March 22, extended the winning run to a third consecutive session on buying across sectors, barring information technology.

At close, the Sensex was up 190.75 points, or 0.26 percent, at 72,831.94, and the Nifty was up 84.80 points, or 0.39 percent, at 22,096.80.

Market opened lower amid weakness in the information technology stocks after tech giant Accenture revised down its full-year revenue growth projection. Buying in the other sectoral indices erased the losses.

For the week, the Sensex and the Nifty posted modest gains.

The market will be closed on March 25 on account of Holi.

Top Nifty gainers included UPL, Maruti Suzuki, Hero MotoCorp, Bajaj Auto and Sun Pharma, while losers were Wipro, Infosys, LTIMindtree, HCL Technologies and TCS.

Metal, auto, realty, FMCG, capital goods, healthcare and power were up 0.5-1 percent, while information technology index was down 2 percent.

The BSE midcap index was up 0.3 percent and the smallcap index up 1 percent.

IndexPricesChangeChange%
Sensex82,172.10398.44 +0.49%
Nifty 5025,181.80135.65 +0.54%
Nifty Bank56,192.05173.80 +0.31%
Nifty 50 25,181.80 135.65 (0.54%)
Thu, Oct 09, 2025
Biggest GainerPricesChangeChange%
JSW Steel1,175.2030.00 +2.62%
Biggest LoserPricesChangeChange%
Axis Bank1,167.40-13.20 -1.12%
Best SectorPricesChangeChange%
Nifty Metal10356.20219.70 +2.17%
Worst SectorPricesChangeChange%
Nifty Auto26587.0064.60 +0.24%

Among individual stocks, a volume spike of more than 400 percent was seen in RBL Bank, Hindustan Copper and Indus Towers.

A long build-up was seen in Vodafone Idea, Hero MotoCorp and Maruti Suzuki, while a short build-up was seen in Wipro, Infosys and HCL Technologies.

Avenue Supermarts, Bajaj Auto, Bharti Airtel, Cigniti Technologies, Cummins India, eMudhra, Force Motors, HEG, Hercules Hoists, Indus Towers, Maruti Suzuki, Pidilite Industries, Reliance Infra, Sapphire Foods, Solar Industries, Star Cement, Sudarshan Chemicals, Torrent Power, Vadilal Industries, among the BSE stocks, which tested their 52-week high. Click to view full list

Outlook for March 26

Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

The Nifty opened at a gap down today. However, it recovered and closed with gains. On the daily charts we can observe that the index is in the process of retracing the fall it has witnessed from 22526 – 21710. The key retracement levels are placed at 22118 – 22214. The dip found buying interest at 21900 – 21880 where the 20-hour moving average was placed. The retracement process is still not complete and hence the rally can continue.

The daily and hourly momentum indicator is providing a divergent signal which can lead to consolidation. The range is likely to be 22200 – 21900. Stock specific action is likely to continue during this period.

Bank Nifty also consolidated within a narrow range around the key daily moving averages. On the upside the key retracement level can continue till 47000 – 47200 over the next few trading sessions. The crucial support zone is placed at 46500 – 46400.

Rupak De, Senior Technical Analyst, LKP Securities

Nifty witnessed two days of recovery following a doji formation on the daily chart, indicating a bullish reversal. Moreover, the Nifty has reclaimed the critical 55-day exponential moving average.

However, Nifty needs to cross over 22,100 to witness a clear rally towards the all-time high of 22,525.

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.

Rakesh Patil
first published: Mar 22, 2024 03:47 pm

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