Stock Market Analysis
As of 16th march
Following a one-day pause, Dalal Street bulls resumed their rally as lower commodities prices and profitable global markets lifted local investors’ spirits as they anticipated the US Federal Reserve’s policy statement.
With the Federal Reserve of the United States ready to raise interest rates for the first time since 2018, markets are paying close attention to how aggressively central bankers plan to combat the highest inflation in 40 years.
The 30-share Sensex rose 1,039.80 points, or 1.86 percent, to settle at 56,816.65.
Its broader rival NSE Nifty surpassed its 200-day moving average intraday and closed at 16,975.35, up 312.35 points or 1.87 percent.
The overall market capitalization of BSE-listed companies has increased by nearly Rs 4 lakh crore since the beginning of March, reflecting a rebound inequity.
Despite the continued war in Ukraine, a pandemic, and volatile global markets, the Federal Reserve’s rate rise is the most significant turning point of this pandemic period.
A Quick Look at the Market
The top Sensex gainers were Ultratech Cement, Axis Bank, Indusind Bank, and HDFC, which all rose 2–4 percent.
Other top gainers were Bajaj Finserv, Tata Steel, Tech Mahindra, ITC, and HCL Tech, which all rose 1–2 percent.
Sun Pharma and Power Grid were the only two companies in the 30-share pack to conclude with losses, with 46 of the 50 Nifty stocks closing in the green, while Cipla was the Nifty pack’s highest loser, sliding 1.34 percent.
The Nifty IT, oil & gas, auto, bank, metal, and realty indexes all finished in the green, with Nifty IT, oil & gas, car, bank, metal, and realty indices all up 2–3 percent.
The capital goods, FMCG, and power indexes are all up 1%. The Nifty Midcap 100 and Nifty Smallcap 100 indexes increased by 2% and 1.2 percent, respectively.
Foresight India
Foresight is an opinion-based trading platform that allows the winner to profit while the loser learns. To see how excellent you are and to challenge your friends and family, download the app today.
