Indian equity markets | Market updates for today 19 March
Indian equity markets closed higher, ending 5 days losing streak
Indian equity markets opened in the red today tracking the negative cues from the global equity markets. Markets turned positive in the late morning on the back of buying on FMCG, Metals, and Energy stocks. In the end, equity markets recovered all morning losses and closed in the green today.
The equity markets started with a negative sentiment today amid fears of foreign fund outflows after the yield on 10 year US bonds spiked above 1.7 percent market yesterday night. The market sentiment was subdued in the morning due to the increasing concerns about the recent surge in coronavirus cases and localized lockdown at a certain part of the country.
However, the markets recovered all losses in the late morning as India’s gross domestic product (GDP) is now projected to grow by 12 percent in 2021, Moody’s Analytics said on Thursday. This is compared to November’s estimates of 9 percent growth for the calendar year 2021. According to Moody’s near-term prospects for India’s economy have turned more favorable but the second wave of coronavirus infection is a ket risk to recovery.
On the global front, Asian markets were closed mostly in the red today after rising U.S bond yields dampened buying enthusiasm driven by the Fed’s promise of low-interest rates. The European markets are trading in the red on Friday after France imposed fresh regional lockdowns to cub the spread of the coronavirus infection amid slow progress of vaccination in some countries. US future indices Dow and Nasdaq futures are trading marginally higher at 3.30 pm IST.
Equity Markets Today: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty gained 186.15 points or 1.28 percent and closed at 14744 while Sensex was up by 641.72 points or 1.31 percent and finished at 49858.24 levels. The Bank Nifty on the spot price also gained 304.80 points or 0.91 percent and ended at 34161.60 levels.
The Nifty midcap and smallcap indices also closed in the green today. The Nifty midcap index gained 282.90 points or 1.22 percent and closed at 23412.75 levels. The smallcap index was up by 57.45 points or 0.70 percent and ended at 8206.90 levels.
The top five gainers in the Nifty50 index were NTPC, HUL, Power Grid, JSW Steel, and UPL. The top five losers in the Nifty50 index were Larsen, Tech Mahindra, Coal India, Bajaj Auto, and Titan Company. The most active stocks in the Nifty50 index for the day were Reliance, Tata Motors, and ITC.
On a sectoral basis, FMCG, Metals, Banking, Oil & Gas, and IT & Software sectors closed as top gainers. The sectors that closed in the red were Consumer Durable, Infrastructure, Healthcare, and Real Estate sectors.
Nifty & Bank Nifty futures updates today
The Nifty futures share price today opened at 14499.80 it made a negative opening of 77.25 points. It has touched an intraday high at 14805 and a day’s low at 14371.30
The Nifty futures share price has given a movement of 433.7 points. In the end, it gained 176.65 points or 1.21 percent and closed at 14753.70 levels.
The Bank Nifty futures share price opened at 33600.30 It made a negative opening of 287.95 points today. It has touched an intraday high at 34450 and a day’s low at 33380.05
During the day, the Bank Nifty futures share price has given a movement of 1069.95 points. In the end, it gained 241.75 points or 0.71 percent and closed at the 34130 levels.
Conclusions:
Indian equity markets bounced back today after opening in the negative territory, ending the five days losing streak. Markets gained with the support of heaving buying in FMCG, Metals, and Energy stocks. Nifty closed near the crucial level today, traders can follow our key factors that may impact the market next week and Nifty and Bank nifty futures targets for next week on our website on Sunday.
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