Stock Market Today: Sensex Gains 90 Points; Nifty Ends Around 21,800 Ahead Of US Fed Outcome

Stock update: On the 30-share Sensex platform, Maruti topped the list, settled 3 per cent higher. PowerGrid, Nestle, SBI, ITC, Reliance were the other gainers

In the broader markets, the BSE Midcap and Smallcap indices ended on a mixed note. The Midcap advanced 0.05 per cent, while the Smallcap fell 0.14 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Wednesday closed higher amid volatility ahead of the US Fed policy decision. The S&P BSE Sensex ended 90 points higher at 72,102. On the other hand, the NSE Nify50 settled at 21,839, up 22 points.

On the 30-share Sensex platform, Maruti topped the list, settled 3 per cent higher. PowerGrid, Nestle, SBI, ITC, Reliance were the other gainers. On the down side, Tata Steel, Tata Motors, Axis Bank, HDFC Bank, HUL, JSW Steel emerged losers.

#ABPStockMarketWatch | Indian benchmark indices closed with slight gains after a volatile trading session on Wednesday.

At 04:00 PM, #Sensex gained 90 points to 72,012 & #Nifty rose by 22 points to close at 21,839

Here's a look at the stocks in focus 👆🏻#ABPLive #ClosingBell… pic.twitter.com/njjAoqeeTb

— ABP LIVE (@abplive) March 20, 2024

In the broader markets, the BSE Midcap and Smallcap indices ended on a mixed note. The Midcap advanced 0.05 per cent, while the Smallcap fell 0.14 per cent.

Sectorwise, Nifty Metal index declined 0.88 per cent, Nifty FMCG jumped 0.5 per cent. Metal index declined nearly 1 per cent.

In the previous session on Tuesday, the S&P BSE Sensex dropped 736 points to end at 72,012, while the NSE Nifty50 closed at 21,817, down 238 points.

"Nifty recovered losses to end higher on March 20. Asian shares closed mostly higher while European markets opened lower Wednesday as investors awaited the latest signals from the Federal Reserve on the timing of cuts to interest rates," said Deepak Jasani, head of retail Research, HDFC Securities.

In the Asian markets, Seoul, Shanghai, and Hong Kong all closed in positive territory, while Japanese stock exchanges remained closed for a holiday. European markets exhibited mixed trading patterns. Wall Street concluded with gains during Tuesday's overnight trade.

Exchange data revealed that Foreign Institutional Investors (FIIs) acquired equities worth Rs 1,421.48 crore on Tuesday.

The global oil benchmark, Brent crude, experienced a decrease of 0.80 percent, settling at $86.68 per barrel.

Meanwhile, on Wednesday, the rupee depreciated by 13 paise, closing at 83.16 (provisional) against the US dollar. This decline was attributed to the strength of the American currency against major rivals abroad and the persistent rise in crude oil prices. However, forex traders noted that a rebound in domestic equity markets and inflows from foreign funds provided some support against the downward pressure.

At the interbank foreign exchange market, the rupee initiated trading at 83, reaching an intraday low of 83.17 against the US dollar. Ultimately, it settled at 83.16 (provisional) against the dollar, marking a 13 paise decrease from its previous close. On Tuesday, the rupee had weakened by 13 paise, closing at 83.03 against the US dollar.