Nifty Bank Gains 393 Points, Market Sentiment Remains Positive
The Sensex was up 414.98 points (0.54%) at 77,320.49 at approximately 9:32 AM, while the Nifty was up 137.80 points (0.59%) at 23,488.20. The Nifty Bank index showed a robust increase in the banking industry, rising 393.45 points (0.78%) to 50,987.00.
The Nifty Midcap 100 index increased 524.75 points (1.01%) to 52,375.50, while the Nifty Small cap 100 index increased 238.45 points (1.47%) to 16,423.40, reflecting the strong performance of the overall market.
Q4 FY25 Earnings Should Improve Market Attitude
Strong Q4 FY25 earnings reports are expected by market analysts, which might boost investor sentiment even more. The Nifty’s trend is still good, according to experts, and there is potential for more increase in the upcoming sessions.
“The 200-day exponential moving average (EMA) is the immediate resistance that the Nifty is encountering at the 23,400 level,” said Devarsh Vakil, Prime Research Head at HDFC Securities. The market may go closer to the next resistance level, which is at 23,800, if this resistance is broken. Nifty has set up support in the 23,200–23,250 zone on the downside.
Top Gainers and Losers in the Market
The top-performing stocks on the Sensex were L&T, Power Grid, NTPC, Tech Mahindra, Kotak Mahindra Bank, HCL Tech, Tata Motors, Bajaj Finance, Maruti Suzuki, and Sun Pharma. In the meantime, the largest losers in early trading were Titan, UltraTech Cement, Hindustan Unilever Limited, and Infosys.
Global Market Trends and Institutional Activity
US markets ended Friday’s final trading session with a favorable close
– Dow Jones: 41,985.35, up 0.08%
The S&P 500 climbed 0.08% to 5,667.56.
Nasdaq: Up 17.784.05 (0.52%).
On the other hand, Asian markets were losing money, as evidenced by the Hong Kong, Jakarta, China, Japan, Seoul, and Bangkok indices.
On the institutional front, on March 21, foreign institutional investors (FIIs) bought shares worth Rs 7,470.36 crore, continuing their buying trend for the second day in a row. On the same day, **domestic institutional investors (DIIs) continued their selling spree, selling shares valued at Rs 3,202.26 crore.
Market Outlook
The market outlook is still cautiously upbeat due to robust Q4 earnings estimates, positive FII inflows, and technical resistance at critical levels. For future market direction, investors should keep a careful eye on global cues and company outcomes.
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