Indian Equity Indices Post Strong Rebound

On March 20, Indian equity indices staged a strong rebound, supported by broad-based buying across sectors. Optimism over a possible de-escalation of the US-Iran conflict and a decline in crude oil prices helped markets open on a strong note and remain in positive territory throughout the session.

Market Performance

• BSE Sensex: Up 325.72 points or 0.44 percent at 74,532.96
• Nifty 50: Up 112.35 points or 0.49 percent at 23,114.50

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Sectoral Performance

• Nifty Midcap Index: Rose 0.6%
• Nifty Smallcap Index: Ended flat

Currency

• Indian Rupee: Extended its decline for a second consecutive session, breaching the 93 mark for the first time and touching a fresh intraday low of 93.76

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Gainers and Losers

• Gainers:

• JSW Steel
• Tech Mahindra
• Coal India
• Tata Steel
• Infosys

• Losers:

• Hindalco Industries
• HDFC Bank
• HDFC Life
• Shriram Finance
• ONGC

Sectoral Indices

• Telecom: Up 1.5%
• IT: Up 1.8%
• Metal: Up 1.2%
• Pharma: Up 1.1%
• PSU Bank: Up 1.5%

Stock Specific

• DLF Limited: Shares fell 0.5% after 4.34 million shares changed hands in a block trade
• Tata Consultancy Services: Gained 1.6% following an MoU with ABB
• HDFC Bank: Declined 2% after approximately 5.19 million shares were traded in a block deal
• NTPC Limited: Rose 2% after entering into an MoU with Octopus Energy Group
• Natco Pharma: Gained 3% following the launch of its generic Semaglutide injection in India
• VA Tech Wabag: Shares surged 3% after a consortium secured a large order in Georgia
• Happiest Minds Technologies: Jumped 8% amid reports that EQT and ITC Infotech are set to acquire a controlling stake

Outlook

• Ajit Mishra: Markets witnessed a volatile session on Friday and ended marginally higher, taking a breather after the previous session’s steep decline.
• Nagaraj Shetti: Nifty witnessed bounce back amidst volatility on Friday and closed the day higher by 112 points.