Stock Market Today: Nifty Above 22000, Sensex Up 539 Pts; All Sectors in the Green
Stock Market Today, 21 March 2024: Indian stock markets ended with significant gains on Thursday. The domestic markets opened higher following positive cues from Wall Street and extended their early gains. The favorable Asian markets also aided the market sentiments today.
Other than the positive global cues, the market sentiments remain upbeat as India`s business activity ended this fiscal year on a high note, expanding at the fastest rate in eight months in March. HSBC`s flash India Composite Purchasing Managers` Index (PMI), compiled by S&P Global, rose to 61.3 this month from February`s final reading of 60.6.
Stock Market Today
The Nifty 50 index closed higher by 172.85 points or 0.79 percent and closed at 22011.95 levels while the Sensex was up by 539.50 points or 0.75 percent and finished at 72641.19 levels. The Bank Nifty index ended higher by 374 points or 0.81 percent on the spot level and closed at 46684.90 levels.
The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 1113.65 points or 2.43 percent and closed at 47033.55 levels. The Nifty smallcap index ended higher by 366.75 points or 2.51 percent at 14960.30 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were BPCL, NTPC, Power Grid, Tata Steel, and Coal India, and the top losers were Bharti Airtel, HDFC Life, ONGC, Maruti, ICICI Bank.
The top gainers in the Nifty midcap index were CG Power, PFC, and REC Ltd and the top losers were PayTM, Max Health, and Petronet.
The smallcap top gainers were BSE, IRB, and Intellect Design while the top losers were Radico, Aegies Chemical, and Easy My Trip.
The most active stocks in the Nifty index in terms of value were ICICI Bank, HDFC Bank, and Reliance. The most active stocks in terms of volume were Tata Steel, NTPC, and Power Grid.
On the sectoral front, all the sectoral indices closed in the green with Realty, Metal, and PSU banks gaining the most.
Global Stock Market Today
The other Asian stock market indexes closed higher on Thursday tracking the positive cues from Wall Street overnight. The sentiments were upbeat as the US Fed kept the interest rate unchanged and signaled three rate cuts in 2024 as forecasted earlier despite the recent hotter-than-expected inflation data released.
Japan’s Nikkei hit a fresh all-time high and closed higher by above 2%, Australia’s S&P ASX 200 index gained 1.12% after Judo Bank flash PMI data showed that the business activity expanded in March, compared to February. Shanghai closed flat to the negative, while Hang Seng, Kospi, and Taiwan closed around 2% on Thursday.
European stock markets are trading higher on Thursday following gains from US and Asian Markets overnight. Investors were encouraged after dovish comments from the US Fed’s Chair Jerome Powell on Wednesday, and are looking for a Bank of England interest rate decision later in the day.
If you like the post “Stock Market Today: Nifty Above 22000, Sensex Up 539 Pts; All Sectors in the Green” please share it with others.
You can also follow our Nifty and Bank Nifty Support and Resistance Levels in Live markets around 11.30 am daily.
Also, read – Next Week’s Stock Market Prediction: 7 Essential Factors Driving Market Movement
Happy Investing!!
Editorial desk