NIFTY50, SENSEX register marginal gains ahead of US Fed outcome
Upstox
2 min read • Updated: March 20, 2024, 5:07 PM
Summary
Benchmark indices – NIFTY50 (+0.10%) and SENSEX (+0.12%) – ended in green. Out of the NIFTY50 space, 27 stocks closed higher. Eicher Motors, Maruti and Nestle India were among the top gainers.
Markets ended with marginal gains in the volatile trading session on Wednesday. Benchmark indices, NIFTY50 (+0.10%) and SENSEX (+0.12%), recoup early morning losses to close higher lifted by favourable global sentiment and ahead of the US Fed meet outcome.
Out of the NIFTY50 space, 27 stocks closed higher. Eicher Motors, Maruti and Nestle India were among the top gainers. Tata Group companies like Tata Steel, Tata Consumer Products and Tata Motors were among top losers today.
Broader markets close mixed
Broader market indices continue to trade under pressure, including NIFTY Midcap100 (-0.01%) and NIFTY Smallcap100 (+0.05%). As per experts, mid and small cap indices are likely to lag behind large cap indices in the short term amid elevated valuations concern and SEBI warning regarding the frothiness in the segment.
On the sectoral front, indices such as Oil and Gas (+1.29%) and Realty (+0.62%) saw the biggest gains, while Metal (-0.79%) and Financial Services (-0.28%) fell the most.
Auto stock saw strong investor traction in today’s trading session. Eicher Motors closed 4.2% higher at ₹3,875 per share, while Maruti Suzuki India hit a 52-week high of ₹12,025 per share. The stock crossed ₹12,000 level for the first time.
Paytm shares closed 3.5% higher at ₹420 per share. The fintech stock has closed in green for the fifth straight session after approval from National Payments Corporation of India’s (NPCI) for UPI payment business which eased investor concern.