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Business News/ Markets / Stock Markets/  Stock market today: Nifty 50, Sensex snap 3-day winning run; mid, smallcaps outperform
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Stock market today: Nifty 50, Sensex snap 3-day winning run; mid, smallcaps outperform

Stock market today: Sensex closed at 72,470.30, down 362 points, or 0.50 per cent while the Nifty 50 closed with a loss of 92 points, or 0.42 per cent, at 22,004.70.

Stock market today: Sensex closed at 72,470.30 while the Nifty 50 closed at 22,004.70. (Image: Pixabay) (Pixabay)Premium
Stock market today: Sensex closed at 72,470.30 while the Nifty 50 closed at 22,004.70. (Image: Pixabay) (Pixabay)

Stock market today: Indian stock market benchmarks- the Nifty 50 and the Sensex snapped their three-day winning run on Tuesday, March 26, amid weak global cues.

The risk appetite of investors remained low due to the absence of fresh triggers.

Uncertainty surrounding the timing of interest rate cuts by the Federal Reserve continues to influence market sentiment. Additionally, with only three trading days this week, trading volume is low, suggesting that the market may lack significant momentum and direction this week.

Sensex opened the day at 72,396.97 against the previous close of 72,831.94 and traded in the negative territory throughout the session. Finally, the 30-share index closed at 72,470.30, down 362 points, or 0.50 per cent.

As many as 20 stocks ended in the red in the Sensex index, with shares of Power Grid (down 2.07 per cent), Bharti Airtel (down 1.99 per cent) and Wipro (down 1.50 per cent) ending as the top losers.

The Nifty 50 opened at 21,947.90 against the previous close of 22,096.75. The index closed with a loss of 92 points, or 0.42 per cent, at 22,004.70.

On the other hand, the midcap space witnessed healthy traction. The BSE Midcap index rose 0.71 per cent while the Smallcap index slipped 0.11 per cent.

Some 145 stocks, including Colgate Palmolive (India), DMart, IndiGo, Pidilite Industries, Siemens and Zomato, hit their fresh 52-week high in intraday trade on BSE.

On the flip side, some 102 stocks, including Hindustan Unilever, AAVAS Financiers, Alkyl Amines Chemicals, Delta Corp, GMM Pfaudler and IIFL Finance, hit their fresh 52-week lows in intraday trade on BSE.

Top gainers in the Nifty 50 index

Shares of Bajaj Finance (up 2.43 per cent), Hindalco Industries (up 2.22 per cent) and Adani Ports and Special Economic Zone (up 1.83 per cent) closed as the top gainers in the Nifty 50 index.

Top losers in the Nifty 50 index

Shares of Bharti Airtel (down 1.97 per cent), Power Grid (down 1.90 per cent) and Eicher Motors (down 1.74 per cent) ended as the top losers in the Nifty 50 index.

Also Read: Top Gainers and Losers today on 26 March, 2024: Bajaj Finance, Hindalco Industries, Power Grid Corporation Of India, Eicher Motors among most active stocks; Check full list here

Sectoral indices today

With a loss of 1.66 per cent, Nifty Media closed as the top loser among sectoral indices.

Nifty Bank fell 0.56 per cent while the Private Bank index declined 0.50 per cent. The PSU Bank index rose 0.10 per cent.

On the other hand, Nifty Realty jumped 1.57 per cent, followed by Nifty Oil & Gas (up 0.73 per cent).

Expert views

"While key data such as US GDP and inflation during the week may provide some clues on future rate cut paths, the fiscal year-ending truncated week, coupled with reduced trading volumes and monthly expiry, are likely to contribute to volatility," said Vinod Nair, Head of Research, Geojit Financial Services.

"Generally, midcaps are performing well post the consolidation of the last 2-3 weeks, while the IT sector continued to experience sluggishness following weak global IT spending forecasts," said Nair.

Also Read: Expert view: Nifty 50 may give a double-digit return in FY25

Technical views

"Nifty remained sideways throughout the day as market participants stayed perplexed on the first day of the holiday-shortened week. However, the trend remained positive for the short term as the index closed above the critical moving average on the daily chart. On the lower end, support is placed at 21,840 for the short term, below which weakness may emerge. On the higher end, resistance is visible at 22,240-22,300," said Rupak De, Senior Technical Analyst at LKP Securities.

Read all market-related news here

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 26 Mar 2024, 03:31 PM IST
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