Mumbai, March 18: The Indian stock market opened in the green on Wednesday, buoyed by strong global cues. At 9:22 AM, the Sensex rose by 353.78 points or 0.47%, reaching 76,424.62, while the Nifty gained 112.70 points or 0.48%, standing at 23,698.
In early trading, IT stocks showed significant strength, with the Nifty IT index being the top gainer. Other sectors such as auto, media, infrastructure, consumption, consumer durables, PSU banks, defense, services, healthcare, public sector enterprises, real estate, and pharmaceuticals also traded in positive territory.
Conversely, metal and commodity indices were in the red.
The market witnessed gains across large-cap, mid-cap, and small-cap stocks. The Nifty Midcap 100 index surged by 544 points or 0.99%, reaching 55,718, while the Nifty Smallcap 100 index increased by 555 points or 1.01%, standing at 55,729.
Key gainers in the Sensex pack included TCS, Indigo, Trent, HCL Tech, Infosys, Eternal, M&M, Tech Mahindra, Power Grid, Adani Ports, Axis Bank, Bajaj Finance, Bharti Airtel, BEL, Bajaj Finserv, L&T, Maruti Suzuki, and ABI. On the losing side were HDFC Bank, ICICI Bank, Tata Steel, and Kotak Mahindra Bank.
The market’s upward trend comes ahead of a crucial decision by the U.S. Federal Reserve regarding interest rates, which will be announced on Wednesday. This two-day meeting, which began on March 17, is considered significant due to the ongoing conflict in Iran, and it is expected to influence future market movements.
Most Asian markets are also showing positive trends, with Tokyo, Bangkok, Seoul, and Jakarta in the green, while Shanghai and Hong Kong are in the red. The U.S. markets closed in the green on Tuesday.
Foreign investors continue to sell off, with Foreign Institutional Investors (FIIs) selling shares worth ₹4,741.22 crores on Tuesday. In contrast, Domestic Institutional Investors (DIIs) invested ₹5,225.32 crores in equities.
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Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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