Last Updated: March 27, 2023, 16:03 IST
Stock Market Today: Benchmark indices ended marginally greater on March 27 amid excessive volatility. The Sensex was up 126.76 factors or 0.22% at 57,653.86, and the Nifty was up 40.70 factors or 0.24% at 16,985.70. About 899 shares superior, 2649 shares declined, and 138 shares unchanged.
Grasim Industries, Reliance Industries, Cipla, Sun Pharma and SBI have been among the many high Nifty gainers, whereas losers have been Adani Ports, Power Grid Corp, SBI Life Insurance, M&M and Tata Motors.
Among sectors, auto, capital items, energy and realty down 0.5-2 per cent, whereas pharma index up 1 per cent.
The BSE midcap index shed 0.4 per cent and smallcap index fell 1.5 per cent.
“The factor of uncertainty in international markets continues. The sharp lower of 4.6% within the European financial institution index final Friday, regardless of the assertion by authorities that the European banking system is resilient, is a mirrored image of the worry out there. Actions by US authorities have introduced near-term stability within the US banking system; however we don’t know what lies forward. Investors ought to stay cautious until stability returns. The modifications proposed within the taxation of debt funds will make them much less engaging for investments made after 1st April 2023. So, the subsequent few days earlier than April 1st will give alternatives for traders to spend money on these funds, together with worldwide funds, for the long-term. Interest charges in India are more likely to decline in direction of the top 2023 after, maybe, another 25 bp charge hike within the subsequent MPC meet. Declining rate of interest situation is beneficial for debt funds,” mentioned Dr. V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Global Cues
Asian shares followed US stock futures higher on Monday on hopes authorities were working to ring fence stress in the global banking system, even as the cost of insuring against default neared dangerous levels.
Tokyo shares opened higher Monday, despite signs of trouble at another major European lender that renewed fears over the health of the global financial system.The benchmark Nikkei 225 index rose 0.19 percent, or 51.92 points, to 27,437.17 at the open, while the broader Topix index climbed 0.30 percent, or 5.86 points, to 1,961.18.
US stocks closed higher on Friday, marking the end of a tumultuous week as Federal Reserve officials calmed investor fears over a potential liquidity crisis in the banking sector.
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