Market Updates Today – Here’s what you should know
Market updates today|| Nifty gains 176 pts and Sensex closed above 50K
Share market updates today: Indian equity markets opened strong amid positive cues from the global markets. The market almost erased all its early gains in the late morning and then bounced back and extended its profits in the second half. The benchmark indices traded above their neutral lines throughout the day on the back of buying metals, power, and banking sectors. In the end, the key indices closed higher by more than 1 percent today.
The market sentiments remain positive after Economic Affairs Secretary Tarun Bajaj’s statement that the government will borrow Rs 7.24 lakh crore, which is 60.06 percent of the gross issuances, in the first half of 2021-22 fiscal (H1FY22) to meet resources to perk up the economy hit by the coronavirus pandemic.
However, the higher side remains capped as the combined output of the eight-core sector contracted 4.6 percent in February, compared to the previous year for the same period. This confirms the fears that recovery in industrial growth would be slower than expected. Meanwhile, the government has extended the existing foreign trade policy (FTP) for six more months.
Share market updates today: Sensex, Nifty, and Bank Nifty
At the close, Nifty gained 176.65 points or 1.21 percent and closed at 14867.35 levels while Sensex was up by 520.68 points or 1.06 percent and finished at 50029.83 levels. The Bank Nifty on the spot price climbed 554.10 points or 1.67 percent and ended at 33858 levels.
The midcap and smallcap outperformed the benchmark indices today. The Nifty midcap index gained 424.60 points or 1.79 percent and closed at 24117.75 levels. The smallcap index jumped 169.40 points or 2.09 percent and finished at 8282.55 levels.
The top five gainers in the Nifty50 index for the day were JSW Steel, Hindalco, Tata Steel, Adani Ports, and IndusInd Bank. The top five losers were HUL, HDFC Life, Nestle, HDFC Bank, and TCS. The most active stocks in the Nifty50 index were Tata Steel, HDFC Bank, and JSW Steel.
On the sectoral front, barring FMCG, and Consumer Durables all other sectors closed in the green today. The sectors that helped to lift the market were Metals, Power, Infrastructure, Automobiles, and Banking.
Derivative market updates today: Nifty & Bank Nifty futures
The Nifty futures share price today opened at 14823.10, it made a positive opening of 70.80 points. It has touched an intraday high at 14975 and a day’s low at 14760.10
The Nifty futures share price has given a movement of 214.9 points. In the end, it gained 183.75 points or 1.25% and closed at 14936.05 levels.
The Bank Nifty futures share price opened at 33693 It made a positive opening of 214.55 points today. It has touched an intraday high at 34250 and a day’s low at 33390.05
During the day, the Bank Nifty futures share price has given a movement of 859.95 points. In the end, it was up by 701.25 points or 2.09% and closed at the 34179.70 levels.
Global market updates today
On the global front, Asian markets closed on positive notes today as Japan and Soth Korea reported unexpectedly strong economic data. The US president Joe Biden’s announcement of a $2.3 trillion infrastructure spending plan has also upbeat the Asian and European market sentiments today. The European and US futures indices are trading higher at this moment (5 pm IST).
Conclusions:
Indian stock market closed strong on the first day of FY22. The US president Joe Biden’s infrastructure package announced overnight helped the domestic to trade higher today. The key indices Sensex and Nifty closed above their crucial levels today. Tomorrow is a market holiday due to “Good Friday”. Indian share market will open on Monday after a long weekend. Traders can read “ weekly market updates report” and Nifty and Bank Nifty trading levels on Saturday.
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Happy weekend !!
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