Sensex zooms 526 pts, Nifty ends at 22,124 as Reliance, Maruti drive rally

Stock market highlights on March 27: Reliance Industries closed 3.6 per cent higher, making up 58 per cent of Sensex gains after Goldman Sachs raised target price on the stock

Stock market highlights on March 27, 2024: Equity benchmark indices rallied sharply to close Wednesday's session, lifted by sustained strength in index heavyweights like Reliance Industries, HDFC Bank and Maruti. The BSE Sensex ended 526 points up at 72,996 coming off a 669 pts intra-day rally. The NSE Nifty 50 jumped 119 points to close at 22,124. 

Reliance Industries closed 3.6 per cent higher, making up 58 per cent of Sensex gains after Goldman Sachs raised target price on the stock. Read

RIL was followed by Maruti, Bajaj Finance, Bajaj Auto, Titan, Kotak Bank, HDFC Bank, IndusInd Bank, M&M, Axis Bank and Larsen & Toubro, which rallied 0.9-2 per cent.

On the other hand, Wipro, UPL, Hero Moto, Nestle India, TCS and Tata Motors were top largecap losers.
 

The BSE MidCap index rose just 0.1 per cent, while the SmallCap index ended 0.7 per cent higher in the broader market. 

Among sectors, Nifty Realty gained most, up 0.85 per cent, while Nifty PSU Bank was the top loser that fell nearly 1 per cent. FMCG, IT and Pharma pockets were other underperformers, which closed in red. 

T+0 settlement kicks from Thursday, March 28

The BSE has named 25 stocks eligible for the T+0 settlement cycle starting Thursday. This comes after the regulator introduced a framework for the beta version of the T+0 trade settlement cycle on an optional basis earlier this month.

Among the stocks eligible for the T+0 settlement cycle are Ambuja Cements, Ashok Leyland, Bajaj Auto, Bank of Baroda, and BPCL. Read here

3:59 PM

COMMENT:: Positive eco growth forecast lifts market sentiment

"Stock-specific actions and positive undercurrents due to a healthy economic growth forecast led the market towards a positive closure. However, due to the holiday-led truncated week, investors are now focusing on US GDP data tomorrow and next week’s RBI policy announcement to gauge market direction. The mid- and small-cap space are outperforming as investors got bargaining opportunities, but volumes are low."

 

- Vinod Nair, Head of Research at Geojit Financial Services

3:53 PM

Market breadth was negative; Around 2,300 stocks declined, while 1,525 advanced on the BSE

3:52 PM

BSE Smallcap Heatmap:: Nuvama Wealth, IIFL shine; NACL, Aster DM whine

3:50 PM

BSE Midcap Heatmap:: NHPC, Max Health gain over 3%; REC, IREDA dip 3%

3:46 PM

Broader Market Check:: MidCaps underperform, SmallCaps outrun

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3:44 PM

Nifty 50 Losers:: UPL, Hero Moto decline 2%; IT, pharma shares slip

3:42 PM

Nifty 50 Gainers:: Reliance jumps 3.5%; Maruti, Bajaj-Auto surge over 2%

3:40 PM

Sensex 30 Heatmap:: 19 Gainers v/s 11 Losers

3:39 PM

CLOSING BELL:: NSE Nifty50 rallies 119 points, ends at 22,124

3:37 PM

CLOSING BELL:: S&P BSE Sensex ends 526 points higher at 72,996

3:25 PM

Global check:: US stock futures gain up to 0.5% in off market deals

Source: Investing.com

3:11 PM

Shoppers Stop bets on beauty, picks Kolkata for industry's 'largest store'

SS Beauty, a part of Shoppers Stop department stores, has said its new store in Kolkata is India’s largest for beauty products and an important moment for the industry. READ MORE

Shoppers Stop

2:57 PM

SBI, Bajaj Auto among 25 stocks eligible for same-day settlement, says BSE

The new T+0 settlement cycle reduces transactional risks and enhances market efficiency by providing immediate liquidity to investors, said analysts at ICICI Direct. READ MORE

2:40 PM

Global check:: Hang Seng, Shanghai slip in mixed Asian trade

Source: Yahoo Finance

2:23 PM

Rupee's decline to record low triggers biggest selloff in Indian bonds

The Indian rupee’s decline to a record low on Friday pushed foreign investors to reassess their frenzied buying of the country’s assets, triggering the biggest selloff in Indian bonds in a year. READ MORE