Stock market today: Bharat Road Network to Reliance Chemotex — 154 BSE-listed shares hit 52-week low

Stock market today: Bharat Road Network, Chemcon Speciality Chemicals, Manugraph India, Nelcast, RACL Geartech, Reliance Chemotex Industries, Sirca Paints India, Tree House Education & Accessories, V R Films & Studios, and Xchanging Solutions touched their 52-week lows during intraday trading on the BSE on Wednesday, March 19, even though the market closed positively. On the other side, Kotak Mahindra Bank, InterGlobe Aviation, and Bajaj Finance hit 52-week high today.

Today, the Indian stock market finished on a high, achieving its third day of gains in a row. The Sensex increased by about 147 points, closing slightly above its opening level, while the Nifty 50 wrapped up at 22,907. The gains in the market were fueled by sectors including Financials and Realty, although IT stocks lagged behind.

Overall market sentiment stayed positive, bolstered by a combination of varied global signals and a fresh wave of hope regarding a possible agreement between Russia and Ukraine.

Vikram Kasat, Head of Advisory at PL Capital - Prabhudas Lilladher, mentioned that significant global events are capturing attention, such as the US Federal Reserve's policy announcement, discussions between Putin and Trump, and a rise in gold prices. The Fed’s economic forecasts and ‘dot plot’ could shed light on potential future interest rate changes, which makes remarks from Fed Chair Jerome Powell particularly important. At the same time, gold prices have reached an all-time high, increasing by over 14% this year amidst global uncertainties and trade conflicts.

Although domestic markets appear to be robust, volatility might continue as international developments progress.

Nifty 50 Outlook

Prashanth Tapse, Senior Vice President of Research and Research Analyst at Mehta Equities, noted that for a technical confirmation of strength, it is essential to surpass Nifty 50’s major obstacle at the 24,062 level, which is also the benchmark’s 200 DMA.

“Intraday Nifty 50 supports are placed at its 21-DMA 22573 on closing basis. Immediate biggest make-or-break support at 22,407 mark,” added Tapse.

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