Markets end higher ahead of US Federal Reserve policy; Nifty ends at 16,975 led by banks, auto and metals stocks

16 Mar 2022 , 04:27 PM

Domestic markets started on a buoyant note and gained nearly 2%, after taking a breather in yesterday’s session. Also, supportive global cues led to gap-up opening however caution ahead of the US Fed meeting outcome capped the movement as the day progressed.

Among the benchmark indices, the Nifty index inched closer to the 17,000 mark and finally settled at 16,975 levels, up by 312 points or 1.87 per cent. The 30-share BSE Sensex jumped 1,040 points or 1.86 per cent to close at 56,817.

Nifty Midcap and Nifty Smallcap were up by 2% and 1.1% respectively. All sectoral indices ended in green with the Nifty Realty increased the most at 3.8% followed by Nifty Metal (+2.6%) and Nifty Pvt Bank (+2.3%). Additionally, Nifty Private Bank and Nifty Auto outperformed in today’s trade.

UltraTech Cement was the top Nifty gainer, followed by Axis Bank, Bajaj Auto, IndusInd Bank and Shree Cement. On the other hand, Sun Pharmaceutical Industries and Power Grid Corporation of India were the only two stocks that registered a dip.

The overall market breadth on BSE stood positive as 2,307 shares advanced while 1,121 declined.