Sensex, Nifty continue to trade in positive terrain – 29th March

Indian stock markets continued to trade in positive terrain in the noon session due to buying in consumer durables, healthcare and realty stocks. Buying in frontline stocks such as Bharti Airtel, Ultratech Cement and HDFC were aiding sentiment, while selling in ITC, Indusind Bank and Infosys kept the gains in the markets in check. Sentiments remained positive with Commerce and industry Minister Piyush Goyal’s statement that the free trade agreement between India and the UAE has opened huge opportunities and businesses of both countries should look at taking the bilateral trade to $250 billion by 2030. Meanwhile, Russian Foreign Minister Sergey Lavrov is likely to visit India this week and the key focus is expected to be discussions on a payment system for New Delhi's procurement of oil and military hardware from Moscow. It would be the highest-level visit from Russia to India after Moscow launched its military offensive against Ukraine on February 24. On the global front, Asian markets were trading mostly higher amid prospect of more cease-fire talks between Russia and Ukraine.

The BSE Sensex is currently trading at 57734.48, up by 140.99 points or 0.24% after trading in a range of 57644.85 and 57934.15. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.40%, while Small cap index was up by 0.40%.

The top gaining sectoral indices on the BSE were Consumer Durables up by 0.82%, Healthcare up by 0.77%, Realty up by 0.74%, Telecom up by 0.69% and Basic Materials was up by 0.68%, while Energy down by 0.92%, Oil & Gas down by 0.91%, PSU down by 0.66%, Metal down by 0.65% and FMCG was down by 0.12% were the top losing indices on BSE.

The top gainers on the Sensex were Bharti Airtel up by 3.14%, Ultratech Cement up by 2.50%, HDFC up by 2.22%, Mahindra & Mahindra up by 1.71% and Sun Pharma was up by 0.90%. On the flip side, ITC down by 1.05%, Indusind Bank down by 0.98%, Infosys down by 0.58%, SBI down by 0.56% and Tata Steel was down by 0.49% were the top losers.

Meanwhile, Former finance minister P Chidambaram has raised doubts over high Gross domestic product (GDP) growth projections for 2022-23 in Union Budget, and said these number are not credible. He said ‘I am cautioning the government that you (will) not get 8 per cent, 9 per cent or 9.5 per cent GDP growth. The world is going through a churning. IMF has lowered growth rate (projections) for all countries by 0.5 per cent to 2 per cent, I think we must settle for lower growth rate. We must achieve that lower growth rate.’

Some of the Important shares will play very big role in stock market,

 

SBI share price - 495.40

DLF share price - 362.60

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