FINAL TRADE: Sensex up 90 pts, Nifty at 21,839 led by energy, auto shares
Stock market today: Both headline indices finished the session 0.1 per cent higher, with the Nifty adding 21.7 points to settle at 21,839.1 and the Sensex gaining 89.6 points to 72,101.7.
Stock market today: Domestic benchmarks finished a choppy session mildly higher on Wednesday, March 20, amid buying interest in auto, energy, and FMCG shares, though selling pressure in financial stocks played spoilsport and limited the upside. Investors across the globe remained in a cautious mood ahead of a key interest rate decision in the world's largest economy due later in the day.
Both headline indices rose 0.1 per cent for the day. The Nifty index ended 21.7 points higher at 21,839.1 while the Sensex settled at 72,101.7, up 89.6 points from its previous close.
Eicher Motors, Maruti Suzuki, Nestle India, and Power Grid rose the most among the 27 gainers in the 50-scrip Nifty basket, closing between 2.2 per cent and 4.3 per cent higher.
On the other hand, Tata Steel, Tata Consumer Products, Tata Motors, and Hindalco were among the top losers, down around 1-2 per cent.
"Lifted by favourable global sentiments and solid direct tax collections, Indian markets rebounded and closed with modest gains. Robust FII and DII inflows sustained the market. As per latest market consensus, the odds of a rate cut in June have reduced," said Vinod Nair, Head of Research at Geojit Financial Services.
Halting the falling trend broader indices Nifty Smallcap100 and Nifty Midcap100 closed near the flatline.
Meanwhile, the Nifty Bank shed 73.9 points, or 0.2 per cent, to settle at 46,310.9, amid selling pressure in stocks such as HDFC Bank and Bandhan Bank.
"The US Fed is likely to delay the cut rate to the latter part of the year due to a resilient economy. Domestic midcap and smallcap stocks are likely to lag large caps driven by premium valuations, in the short-term," Nair added.
Global markets
European shares began the day in the red amid weakness in luxury stocks following a sales warning from Kering.
The pan-European STOXX 600 index was down 0.2 per cent at the last count.
With inputs from agencies
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