Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in positive territory on March 27. The NSE Nifty 50 inched up almost 120 points or 0.54% to settle at 22,123.65, while the BSE Sensex advanced over 525 points or 0.73% to finish at 72,996. Nifty Bank gained 185 points or 0.40% to close at 46,785.95.
The NSE Nifty 50 closed 0.65% higher at 22,147.95, while the BSE Sensex closed 0.77% higher at 73,030.90.
Tata Chemicals, Adani Power, Mankind Pharma, Indian Hotels, and Prestige Estate were the top gainers in the Nifty Midcap 100. While Policy Bazar, Crompton Greaves, Jubilant Foods, Piramal Enterprises, and REC were the key laggard in the Nifty Midcap 100 on March 27.
Courtesy: NSE
T+0 rolling settlement – 25 stocks trading in T+0 settlement cycle with effect from March 28. Cipla, ONGC, Bajaj Auto, Ashok Leyland, BPCL, and Hindalco are in the list of securities going for Trading in the T+0 rolling settlement cycle in the Equity Segment.
Courtesy: NSE
Courtesy: NSE
Shares of Maruti Suzuki rose 4% to hit the 52-week high of Rs 12,722.70. The stock was the among the top gainer in the Nifty 50.
The NSE Nifty 50 was up 0.78% or 171 points at 22,175.85, while the 30-stock BSE Sensex was up almost 570 points or 0.78% at 73,038.29.
Angel One, a prominent brokerage firm, has launched a Qualified Institutional Placement (QIP) issue at a floor price of Rs 2,555 per share, offering a discount of approximately 7% from the prevailing market price.
This strategic move is intended to secure funds, fortifying its financial prowess, and leveraging emerging prospects within its existing broking domain and the expansive fintech sector.
Read More: Angel One launches QIP worth Rs 1500 cr, sets floor price of Rs 2555/share
Adani Ports, Maruti Suzuki, Reliance Industries, Bajaj Auto, and Eicher Motors were the top gainers in the Nifty 50. While Britannia, Hero MotoCorp, Apollo Hospitals, Nestle India, and Wipro were the key laggards in the Nifty 50 on March 27.
Shares of Reliance Industries advanced almost 3% to an intraday high of Rs 2,966.50 after Goldman Sachs raised the target price on the company’s stock with an iterated “Buy” rating.
The shares of Larsen & Toubro gains 1.44% to inta-day high of Rs 3,724 on the following news that the Engineering major Larsen & Toubro (L&T) on Tuesday said the company’s board has approved a proposal to raise funds worth Rs 7,500 crore.
L&T, in a regulatory disclosure, stated that the funds would be raised through external commercial borrowings, term loans, non-convertible debentures, or any other suitable financial instrument.
Courtesy: NSE
The stocks of Aster DM fell 7% to an intraday low of Rs 407.10 after 10.1% equity of the company or over 5 crore equity shares changed hands valued at Rs 2,070 crore.
In its recent analysis, prominent brokerage firm Goldman Sachs has forecasted a potential increase of up to 54% for shares of Reliance Industries (RIL), under the leadership of billionaire magnate Mukesh Ambani. This positive projection is grounded on Goldman Sachs’ bullish scenario estimates for the fiscal year 2026, envisioning RIL’s stock price to attain Rs4,495.
Goldman Sachs has upheld its “buy” recommendation for Reliance Industries, adjusting its price target for the stock to Rs 3,400 from Rs 2,925 previously. This updated target implies a significant 17% upside from Tuesday’s closing price.
Read More: Goldman Sachs forecasts 54% upside for Reliance Industries; says value accretion from RIL-Disney JV
Sanofi India rose nearly 4% to an intraday high of Rs 7,999 after the company joined hands with Cipla for the distribution of Sanofi’s CNS medications in India.
Adani Ports, BPCL, Apollo Hospitals, Reliance Industries, and Hindalco were the top gainers in the Nifty 50. While Britannia, Dr Reddy’s Laboratories, Tata Consumer, UPL, and HDFC Bank were the top gainers in the Nifty 50 on March 27.
The NSE Nifty 50 opened 0.22% higher at 22,053.95, while the BSE Sensex opened 0.25% higher at 72,649.92.
Spot gold surged to the key level of $2200 on the US Dollar weakness and slightly lower US yields Tuesday, though the metal fell nearly 1% from the day’s high as the Greenback recovered to close with a slight gain. Spot gold closed with a gain of 0.25% at $2178.
The US Dollar Index slid on the People’s Bank of China reinforcing its support for the Yuan as the Bank strengthened its daily reference rate by the most since January. The US Dollar erased its losses as treasury yields firmed up following the durables data. The Index closed with a gain of 0.07% at 104.30 as the US ten-year yields dipped by one bps to 4.23%, said Praveen Singh, Associate Vice President of Fundamental Currencies and Commodities at Sharekhan by BNP Paribas.
The US data were mixed as durable goods orders (February preliminary) rose by 1.40% as against the forecast of 1%, while durables ex-transportation was up 0.50% Vs the forecast of 0.40%. FHFA House Price Index (January) fell 0.10% Vs the estimate of an increase of 0.30%. Conference Board Consumer Confidence (March) was noted at 104.70; thus, fell short of the expectation of a rise to 107 from 106.70 in February. Elsewhere, Germany’s Gfk consumer confidence data at -27.40 was a tad better than the forecast of -28, he said.
Total known gold ETF holdings fell to 82.18 MOz after stagnating at 82.314 MOZ for two consecutive days.
The data calendar is light today as we have the Euro-zone’s consumer, industrial services, and economic confidence data (March) on tap.
“It is to be noted that month-end and quarter-end flows may lead to volatility in currencies, thus consequently in gold, too,” Singh said.
Markets look forward to the upcoming US PCE inflation data, the Fed’s preferred gauge of inflation, due for release Friday.
June rate cut probability has slid to 63% from 69% following the durables data, which is slightly negative for the metal, so the metal may trade with a bearish bias today.
“Support for the yellow metal is seen at $2169/$2146/$2135. Resistance is at $2200/$2225,” Singh said.
Bank Nifty also consolidated within a narrow range around the key daily moving averages. On the downside 46500 is acting as a crucial support while 46900 is acting as an immediate hurdle. “Overall, we expect the Bank Nifty to resume its retracement towards 47000 – 47200 over the next few trading sessions,” said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.
“In yesterday’s trade, Nifty faced heavy selling pressure, ending on a negative note, prompting concerns about the resilience of Nifty bulls amidst headwinds including Federal Reserve rate speculation and weak corporate guidance. Investor attention now turns to key economic data and the upcoming earnings season. Despite challenges, potential support for Nifty bulls lies in foreign institutional buying and global market momentum. Volatility is expected to rise ahead of the F&O expiry. Notable market movements include InterGlobe Aviation hitting a record high, Adani Ports’ acquisition, and fluctuations in oil and steel prices. Indian markets will be closed on March 29th for Good Friday. Trading strategies suggest buying opportunities with specific targets and stop-loss levels,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
On Tuesday, the Nifty opened gap down. However, it recovered and closed off the intraday lows. It closed down ~92 points.
“On the daily charts, we can observe that the Nifty is broadly trading in the range 21880- 22200 since the last three trading sessions. The range-bound action is likely to continue in the absence of any near-term triggers. Also, as we near the monthly expiry of the March series derivative contracts the volatility seems to have dried down resulting in range-bound moves,” said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas. The contraction of the hourly Bollinger bands also suggests sideway price action. Thus, multiple parameters suggest that Nifty is likely to witness subdued price action over the next few trading sessions. Stock-specific action is likely to continue during this period.
SAIL was the only stock in the F&O ban list on Tuesday.
Foreign institutional investors (FII) bought shares net worth Rs 10.13 crore. Whereas, domestic institutional investors (DII) bought shares net worth Rs 5,024.36 crore on March 22, 2024, according to the provisional data available on the NSE.
WTI crude prices were trading at $81.22 down by 0.52%, while Brent crude prices were trading at $85.66 down by 0.68%, on Wednesday morning.
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded higher, 0.08% at 104.31.
The stocks on Wall Street continued to end on a lower note as the market rally cooled down. The Dow Jones Industrial Average closed 31.31 points or 0.08% lower at 39,282.33. The S&P 500 fell 0.28% to close at 5,203.58, while the Nasdaq Composite pulled back 0.42% closing at 16,315.70.
