Fed’s Policy
Benchmarks ended positively due to falling US benchmark yield, dollar index, and Fed dovishness.
Sensex and Nifty 50 rose on March 21 as global markets rallied after the US Federal Reserve reaffirmed its three rate decrease forecast for the year, bolstering investor morale.
After the Fed’s announcement, all three Wall Street benchmarks rose. Japan’s Nikkei reached a record high in Asia-Pacific.
The Fed maintained its 5.25-5.50 percent interest rate on March 20. “This is good for equities since lower borrowing costs may boost economic development, said Vested Finance CEO Viram Shah. Shah said consumer discretionary, utilities, and real estate might benefit from falling interest rates.
The benchmarks also benefited from the falling US 10-year Treasury yield, dollar index, and widespread purchasing.
As of closure, the Sensex was up 590.60 points or 0.82 percent at 72,692.29 while the Nifty 50 was up 175.70 points or 0.80 percent at 22,014.80.
Sectors and stocks
BPCL, NTPC, Tata Steel, Power Grid Corp., and Coal India were the largest Nifty 50 gainers, while Bharti Airtel, ICICI Bank, HDFC Life, Maruti Suzuki, and Axis Bank were the biggest losses
After all sectors ended in green, Nifty Realty and PSU Bank gained the most, while Nifty Bank and FMCG gained the least.
Both BSE Midcap and BSE Smallcap gained over 2% in the market.
The build-up was long for REC, NALCO, and Muthoot Finance and short for Petronet, Abbott India, and Shriram Finance.
Amanaya Venture, Avenue Supermarts, Bharti Airtel, CG Power, Cummins India, City Online, KEI Industries, and Hitachi Energy also reached 52-week highs on the BSE.
March 21 Forecast
On March 21, Indian markets experienced a significant increase, with the Sensex moving past the 50-EMA level of 72,200 and breaching 72,500 levels. The index gained 515 points, and sentiment improved with a positive bias, suggesting further growth. Major sectors contributing to the increase included construction, metals, PSU Banks, media & entertainment, energy, consumer durables, financial services, and pharma.
The Nifty 50 experienced a strong surge, gaining nearly a percent due to favorable global cues. The market fluctuated, with realty and metal being top gainers. The broader indices also made a strong comeback, gaining approximately 2.5% each. The buoyancy in the US markets is helping the index cap damage and trigger a rebound. The benchmark Nifty tested the 20 EMA on March 21, but couldn’t surpass it. A meaningful recovery may require sustainability above 22,200. Participants should stay stock-specific until clarity on the next directional move is provided.
| FII Sold | -1,826.97 Cr |
| DII Bought | 3,208.87Â Cr |
Indian Market Stocks
| Sensex | +539.50 | +0.75% | 72,641.19 |
| Nifty 50 | +172.85 | +0.79% | 22,011.95 |
| Nifty Bank | +374.00 | +0.81% | 46,684.90 |
Market Movers
| BPCL | 21.15 3.73% | Bharti Airtel | -11.00 -0.89% |
| NTPC | 11.35 3.62% | HDFC Life | -4.15 -0.66% |
| Power Grid Corp | 9.10 3.44% | ONGC | -0.90 -0.34% |
| Nestle | 4.45 3.06% | Maruti Suzuki | -33.00 -0.28% |
| Coal India | 12.55 2.99% | ICICI Bank | -2.70 -0.25% |
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Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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