FIRST TRADE: Sensex up over 150 pts, Nifty near 22,100 amid buying in financials, metal, realty and oil & gas counters

Stock market today: The Indian share market edged higher on Wednesday (March 27) amid buying in financials, metal, realty, and oil & gas counters. Energy stocks traded higher on the back of a fall in crude oil prices. 

Last seen, the S&P BSE Sensex was up 0.25 per cent, or 182.21 points, at 72,652.51, and the NSE Nifty was up 0.3 per cent, or 66.67 points, at 22,071.45.

"The market is likely to continue in the consolidation mode for a couple of days more and then take a new directional trend starting in April. The undertone of the market continues to be bullish, supported by strong economic fundamentals. A significant structural trend in the market is the sustained flows into equity mutual funds, which are gathering momentum. This will ensure the resilience of the market with dips getting bought," said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. 

Dr. Vijayakumar added midcaps have again become the segment of activity, particularly by retail investors. This is because there is no institutional selling pressure in midcaps, unlike in large-caps, where institutions, including FIIs, have large holdings.

Meanwhile, the Nifty Mid Cap 100 and Small Cap 100 rose over 0.40 per cent and the Nifty Bank was up 0.26 per cent at 46,722.35.

Further, Dr. Vijayakumar believes financials are likely to lead the rally along with capital goods and automobiles in early April. Credit growth in the economy is impressive at around 20 per cent and this will help boost banks’ profitability. Q4 results from banks will be good.

BUZZING STOCKS

Angel One shares were up over 2 per cent after the company launched QIP on Tuesday after market hours.

Wockhardt shares hit a 5 per cent upper circuit a day after the company's QIP closed. 

Prataap Snacks shares were up over 2 per cent after production started in the J&K unit.

ABB India shares were up nearly 6 per cent after UBS and Jefferies raised their target price.

Sanofi shares were up over 2 per cent after the company agreed with Cipla Limited for the distribution and promotion of Sanofi's Central Nervous System products in India.

Conversely, Aster DM Healthcare shares were down over 5 per cent after 9.8 per cent equity changed hands via multiple block deals.

CDSL shares were down over 5 per cent after 7.4 per cent equity shares changed hands via block deals. 

GLOBAL MARKETS 

Japanese stocks advanced amid a weakening yen on Wednesday, while Chinese stocks slipped, with overall regional trading lacking strong direction in a holiday-shortened week that ends with a key reading of US inflation.

Japan's Nikkei gained 0.93 per cent to 40,775.62 as of 0155 GMT, heading back towards the all-time high of 41,087.75 reached last Friday.

(With inputs from agencies.)

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