Last Updated: March 29, 2023, 09:47 IST
Stock Market Today: Domestic markets began buying and selling in optimistic territory on Wednesday morning. Benchmark indices Nifty50 climbed over 50 factors to reclaim 17,000-mark, whereas the S&P BSE Sensex gained over 200 factors to commerce round 57,823 ranges.
The power unfold throughout broader markets as nicely, with Nifty Midcap 100 and Nifty Smallcap 100 indices surging as much as 0.1 per cent. Volatility gauge, India VIX, in the meantime, slipped over 2 per cent.
Sectorally, Nifty Bank, and Nifty Auto indices led the cost as they gained as much as 0.7 per cent, whereas Nifty Realty, and Nifty PSU Bank indices had been slowed down in commerce.
Among particular person shares, shares of Jindal Stainless surged over 2 per cent after the stainless-steel agency signed an settlement with New Yaking Pte to arrange a nickel pig iron smelter in Indonesia.
Besides, shares of RPP Infra Projects rallied over 3 per cent after the corporate bagged a brand new order price Rs 148.08 crore.
Dr. V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned: “In the absence of near-term cues, the market is prone to stay range-bound for some days earlier than taking a brand new route. Cues from the mom market US on inflation, the Fed response and the banking crisis-related information will weigh on markets within the near-term. With FIIs turning patrons yesterday, 16,800 Nifty stage is unlikely to be damaged on the draw back now. Expect a range-bound marketplace for the near-term. The current correction has made valuations for the broader market engaging. The Nifty Smallcap index and Nifty Midcap index are down round 10% and 6% respectively within the final three months. For long-term traders, this can be a good alternative to spend money on Small and Midcap mutual funds by way of SIPs. In large-caps, HDFC twins and RIL exhibit power.”
Global Cues
Globally, the US markets slipped overnight, led by losses in technology names as bond yields climbed back above 4 per cent. Dow Jones, NASDAQ Composite, and the S&P 500 indices declined up to 0.4 per cent.
Asia-Pacific markets, however, ticked higher this morning, with Nikkei 225, Topix, Kospi, and Hang Seng indices jumping up to 2 per cent.
The US dollar index, meanwhile, edged lower for the second straight day against a basket of major currencies. The greenback fell 0.2 per cent to 102.28.
In the commodity market, prices of Brent Crude, and WTI Crude rose up to 0.9 per cent to $79 per barrel, and $73 per barrel, respectively.
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