Indian Stock Market Today: Sensex and Nifty 50 End Higher Amid Geopolitical Uncertainties
The Indian stock market benchmarks, the Sensex and the Nifty 50, ended higher on Friday, March 20, on selective buying after Thursday’s massive losses.
The 30-share pack jumped more than 1,000 points during the session but ended just 326 points, or 0.44%, higher at 74,532.96 as investors booked profits amid persisting geopolitical uncertainties. The Nifty 50 ended with a gain of 112 points, or 0.49%, at 23,114.50.
What Drove the Market Higher?
News flows indicating de-escalation in the Middle East conflict and a downtick in crude oil prices influenced stock market sentiment. Israeli Prime Minister Benjamin Netanyahu said the war with Iran might end sooner than expected. Meanwhile, US President Donald Trump has asked Israel not to attack Iranian natural gas infrastructure again, and Israeli Prime Minister has agreed to it, according to media reports.
However, market participants remain wary of uncertainties surrounding the US-Iran war. US Iran war concerns continue to impact investor sentiment.
Top Nifty 50 Gainers and Losers Today
Tech Mahindra, JSW Steel, and Tata Steel ended as the top gainers in the Nifty index, each rising over 3%, while Hindalco Industries, HDFC Bank, and Shriram Finance ended as the top losers, falling 2-3%.
For more information on Nifty 50 gainers and losers, please visit our website.
Sectoral Indices Today
Nifty Bank erased all gains seen during the day and ended 24 points, or 0.04%, lower at 53,427.05. Nifty Financial Services dropped 0.68%.
On the other hand, Nifty PSU Bank, IT and Pharma indices jumped 2%. Nifty Metal and Auto indices rose by up to 1%. For more information on sectoral indices, please visit our website.
Most Traded Stocks Today
Vodafone Idea, Jaiprakash Power Ventures, Tata Silver Exchange Traded Fund, Tata Gold Exchange Traded Fund, Sagility, HDFC Bank, and YES Bank were the most traded stocks, or most active stocks in terms of volume, on the NSE.
For more information on most traded stocks, please visit our website.
Advance-Decline Ratio
Out of 3,325 stocks traded on the NSE, over 1,880 advanced and over 1,330 declined.
Stocks That Hit 52-Week Highs and Lows
230 stocks hit 52-week lows As many as 232 stocks, including Bajaj Finance, Balkrishna Industries, GAIL (India), Varun Beverages, and Godrej Consumer Products, hit their 52-week lows in intraday trade on the NSE.
26 stocks hit 52-week highs Lenskart Solutions, Karnataka Bank, JB Chemicals & Pharmaceuticals, Agi Infra, and Aarnav Fashions were among the 26 stocks that hit their 52-week highs on the NSE.
For more information on 52-week highs and lows, please visit our website.
Technical Outlook for Nifty 50
According to Rupak De, Senior Technical Analyst at LKP Securities, on the hourly chart, the rising Nifty faced resistance at the 21EMA and slipped lower. On the daily chart, a bullish Harami Cross formed, a reversal pattern.
In the short term, the trend may improve with the potential to rise towards 23,400–23,600. On the lower end, 22,950–23,000 remains a key support zone, below which bearishness may re-emerge.
Ajit Mishra, SVP- Research, Religare Broking, said the 23,400–23,600 zone is likely to act as a resistance area in case of a rebound, while 22,800 remains a critical support level.
A break below this level could lead to further downside towards the 22,500 mark, despite the oversold conditions.
For more information on technical outlook for Nifty 50, please visit our website.