Indian stock markets overcame early volatility to trade higher in the late afternoon session, supported by fresh foreign fund inflows and positive investor sentiment. The revival of Foreign Institutional Investors (FII) inflows boosted market confidence, with FIIs purchasing RS. 3,239.14 crore worth of shares in the previous session. Investors also took advantage of attractive stock valuations, contributing to the market's upward movement. Additionally, the Indian rupee strengthened by 14 paise on March 21, currently trading at RS. 86.01 against the dollar, marking its best weekly gain in two years.
On the global front, Asian equity markets were mostly in the red due to concerns over tariffs and rising Middle East tensions, prompting profit-booking. European markets also traded lower, affected by rising oil prices and trade-related worries.
The BSE Sensex is currently at 76,915.16, up 567.10 points or 0.74%, trading between 76,095.26 and 77,041.94. Among its components, 22 stocks advanced while 8 declined.
The broader market indices also remained positive, with the BSE Midcap index up 1.19% and the Smallcap index rising 1.80%.
Sectoral Performance:
- Top gaining sectors: Oil & Gas (+3.37%), Energy (+2.66%), Utilities (+2.63%), PSU (+2.09%), and Telecom (+1.84%).
- Losing sectors: Consumer Durables (-0.39%) and Metal (-0.09%).
Top Sensex Gainers:
- NTPC (+3.32%)
- Bajaj Finance (+2.93%)
- Larsen & Toubro (+2.65%)
- Nestle (+2.07%)
- Kotak Mahindra Bank (+1.92%)
Top Sensex Losers:
- IndusInd Bank (-1.48%)
- Infosys (-1.06%)
- Titan Company (-0.62%)
- Tata Steel (-0.47%)
- Bajaj Finserv (-0.29%)
Meanwhile, Minister of State for Skill Development and Entrepreneurship Jayant Chaudhary highlighted India's growing global reputation for quality products and businesses. He urged industries to focus on product excellence to remain competitive and emphasized the need for investment in entrepreneurship. The Union Budget 2025 has allocated RS. 10,000 crore under the Fund of Funds (FoF) to support women and underserved entrepreneurs. Chaudhary stressed that government schemes would only be effective if people learn to utilize them as a right.
The CNX Nifty is currently trading at 23,361.45, up 170.80 points or 0.74%, moving between 23,132.80 and 23,402.70. Among its constituents, 36 stocks gained while 14 declined.
Top Nifty Gainers:
- ONGC (+5.05%)
- BPCL (+4.40%)
- Coal India (+3.48%)
- NTPC (+3.35%)
- SBI Life Insurance (+3.02%)
Top Nifty Losers:
- IndusInd Bank (-1.58%)
- Infosys (-1.17%)
- Trent (-1.11%)
- Hindalco (-1.06%)
- Bharat Electronics (-0.84%)
Global Markets:
Asian markets were mostly weak, with major indices like Hang Seng (-2.24%), Jakarta Composite (-2.05%), Nikkei 225 (-0.2%), and Shanghai Composite (-1.31%) posting losses. However, KOSPI edged up 0.23%.
European markets were also trading lower, with FTSE 100 (-0.48%), CAC 40 (-0.66%), and DAX (-0.81%) experiencing declines due to concerns over oil prices and trade tensions.