Indian Indices Maintain Gains Amid Global Rally Despite Mixed Trading Trends

21 Mar 2024 , 01:48 PM

Indian benchmark indices exhibited mixed trading patterns on Thursday, despite an initial surge, buoyed by positive sentiments in global markets, particularly in response to the Federal Reserve’s reaffirmation of its three-rate-cut policy for the year.

At the time of writing, the Sensex showed a gain of 4958 points, equivalent to 0.69%, reaching a value of 72,596.67. Similarly, the Nifty observed an increase of 159.35 points, or 0.73%, reaching a level of 21,997.

Sector-wise, the Metal index emerged as the top gainer, surging by more than 2%, followed by the PSU Bank index, which recorded a gain of 1.85%. Additionally, the Realty index displayed a notable increase of 1.47%. Other indices also depicted positive movements.

In the broader market, the BSE SmallCap index witnessed a robust surge of 1.75%, while the BSE MidCap index also experienced a substantial uptick, rising by 1.60%.

Notable gainers in the Nifty 50 included NTPC, BPCL, Tata Steel, IndusInd Bank, and Hindalco, contributing to the positive momentum. Conversely, top losers encompassed Hero MotoCorp, Nestle India, Maruti Suzuki India, Infosys, and Bharti Airtel.

According to provisional data from the NSE, Foreign institutional investors (FIIs) were net sellers, offloading shares worth ₹2,599.19 crore. Conversely, domestic institutional investors (DIIs) took the opposite stance, accumulating stocks valued at ₹2,667.52 crore on March 20.

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