Stock Market Closes in Green Amid Volatile Trade, Sensex Ends Above 78,000
The Indian stock market closed higher on Tuesday, extending its winning streak to the seventh consecutive session, although it gave up some of its early gains amid volatile trading. The Sensex managed to stay above the 78,000 mark, closing at 78,017.19, up by 32.81 points or 0.04 percent.
Mumbai: The Indian stock market closed higher on Tuesday, extending its winning streak to the seventh consecutive session, although it gave up some of its early gains amid volatile trading. The Sensex managed to stay above the 78,000 mark, closing at 78,017.19, up by 32.81 points or 0.04 percent. The Nifty, on the other hand, ended almost flat at 23,668.65, gaining just 10.30 points or 0.04 percent.
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Sensex and Nifty Show Modest Gains Amid Volatile Trading
Despite the slight gains in the indices, the trading session was marked by volatility, with the Sensex reaching an intra-day high of 78,741.69 before settling lower. The Nifty traded within a narrow range between 23,869.60 and 23,627.55 during the day.
Market sentiment remained subdued, as a majority of stocks faced selling pressure. Of the 4,994 stocks traded on the exchange, 1,019 stocks advanced, 2,868 declined, and 107 remained unchanged.
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IT Sector Outperforms Amid Broader Market Declines
Sector-wise, the IT sector was the only winner, showing positive movement. On the other hand, several other indices such as auto, capital goods, consumer durables, metal, oil and gas, power, PSU banks, realty, and telecom saw losses between 1% and 1.5%.
Among the top gainers on the Nifty were UltraTech Cement, Trent, Bajaj Finserv, Infosys, and Grasim Industries. On the flip side, IndusInd Bank, Dr. Reddy’s Labs, and Coal India were among the biggest losers of the session.
Broader Market and Sectoral Indices Witness Declines
The broader market also witnessed declines, with the BSE Midcap index falling by 1% and the BSE Smallcap index dropping by 1.6%. Among the sectoral indices, only the Nifty IT index ended the day in the green, while all other indices saw declines, with some of the biggest sectoral losses reaching up to 2.16%.
Market Sentiment Remains Cautious Amid Global and Domestic Factors
Market experts suggest that the cautious sentiment among investors, coupled with profit booking, contributed to the choppy session. Moving forward, global market trends and the release of economic data will play a significant role in influencing market movements.
According to Vikram Kasat, Head-Advisory at PL Capital-Prabhudas Lilladher, the market’s upward trend continued, with the Nifty closing above 23,600 and the Sensex surging by over 1,000 points. He also mentioned that market participants are closely watching the upcoming US GDP growth report for Q4, set for release on March 27, along with any fresh updates on trade tariffs, which could impact market sentiments in the coming days.
