The Indian stock market closed in the green mark on 23 March. The benchmark indices Sensex and Nifty saw a jump of around 0.5% amidst considerable volatility. Banking sector stocks saw good growth. Let’s know what was important in the market on Tuesday-
The BSE Sensex closed above 50,000. At the same time, the Nifty 50 also reached over 14,800.
The big things of the business of 23 March-
The BSE Sensex rose by 280 points on Tuesday. NSE Nifty gained 78 points.
At the time of closing the market, 17 stocks in 30 of the Sensex pack were in green mark. 50 shares of Nifty Pack were broken 23.
Shares of UltraTech Cement and UPL in the Nifty 50 Pack set a new peak for their 52 weeks.
The Nifty Smallcap 100 and Midcap 100 index strengthened in the direction of Nifty. The midcap index rose 0.87% while the smallcap index rose 0.36%.
The Volatility Index (VIX) is at 20.66 after a bounce of 0.83%.
Open – 14,768.55
Close – 14,814.75
Variation – (+ 0.53%)
High – 14,878.60
Open – 49,876.21
Close – 50,051.44
Variation – (+ 0.56%)
High – 50,264.65
What was the reason behind the boom in the market
On March 23, most of the trading in the market was stock and sector based. Bulls rose in the market amid mixed signals from overseas markets. The market had seen a significant decline before the flat was closed on the previous day. Foreign investors and domestic institutional investors are not seeing big purchases in the market. Investors are also looking at a buyout due to the improvement in valuations after the decline.
Which sector did how well?
On March 23, the Nifty sector-based indexes showed mixed direction. Bank sector closed up 1.73%, climbing the most. Similarly, financial services and reality index also saw good growth of around 1%. Pharma and auto index rose 0.5%. The IT sector gained 0.27% while the FMCG index saw a decline of 0.39%. The metal index lost 0.66% on Tuesday.
Nifty-50 shares seen the fastest in these stocks
Shree Cement (+ 4.68%)
Ultratech Cement (+ 2.70%)
Divis Labs (+ 2.57%)
HDFC Bank (+ 2.37%)
IndusInd Bank (+ 2.32%)
These shares of Nifty-50 are broken.
Power Grid (-2.06%)
Stocks that remain most active-
Adani Ports, Tata Motors and ICICI Bank were the three most active stocks in the Nifty by value. At the same time, according to the volume, the stock of Tata Motors, SBI and ITC dominated.
What is the sign next?
The market will be affected by FII investment, signals from foreign markets, corona and news related to bond yields. Investors should be careful in the market and only trade in good stocks.