The Indian stock market opened on a strong note on Tuesday, supported by positive global trends. Buying interest was seen in real estate and media stocks during early trade, boosting market sentiment.
At 9:27 AM, the BSE Sensex was up 448.91 points (0.61%) at 74,618.86, while the Nifty 50 gained 140.15 points (0.62%) to trade at 22,648.90.
Sector-Wise Market Performance
- Nifty Bank climbed 407.25 points (0.84%) to 48,761.40.
- Nifty Midcap 100 surged 333.05 points (0.69%) to 48,794.85.
- Nifty Smallcap 100 advanced 142.55 points (0.95%) to 15,110.95.
Key Support and Resistance Levels
Market analysts predict that Nifty could find support at 22,450, followed by 22,350 and 22,300. On the upside, immediate resistance is at 22,700, followed by 22,750 and 22,800.
Despite the positive market performance, investor sentiment remained cautious due to rising trade war tensions. The latest tariffs imposed by US President Joe Biden have raised concerns over geopolitical uncertainties, affecting overall market optimism.
Top Gainers and Losers
Top Gainers (Sensex Pack):
- ICICI Bank
- Mahindra & Mahindra (M&M)
- Axis Bank
- Tata Steel
- Tata Motors
- Bajaj Finserv
- Hindustan Unilever Limited (HUL)
- Zomato
Top Losers (Sensex Pack):
- HCL Tech
- Sun Pharma
- TCS
- Tech Mahindra
Global Market Trends
On Wall Street, major indices closed higher in the previous session:
- Dow Jones gained 0.85% to 41,841.63.
- S&P 500 rose 0.64% to 5,675.12.
- Nasdaq advanced 0.31% to 17,808.66.
In Asian markets, mixed trends were observed:
- Jakarta was trading in the red.
- Japan, Seoul, China, and Hong Kong were in positive territory.
FII and DII Activity
Foreign Institutional Investors (FIIs) continued their selling streak, offloading equities worth ₹4,488.45 crore on March 17. However, Domestic Institutional Investors (DIIs) remained buyers, investing ₹6,000.60 crore on the same day.
Investors will closely monitor global developments and corporate earnings for further market direction.
