Sensex rises 140 pts, Nifty holds 17,100 ahead of US Fed outcome; PSBs lead

CLOSING BELL: Sectorally, the Nifty Pharma index advanced 1 per cent, followed by the Nifty PSU bank added 0.8 per cent.

SI Reporter New Delhi
Sensex rises 140 pts, Nifty holds 17,100 ahead of US Fed outcome; PSBs lead

1 min read Last Updated : Mar 22 2023 | 4:07 PM IST

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Key Event

4:07 PM Mar 23

Nifty: The index could rally sharply if 17,200 is taken out

"The Nifty index witnessed sideways momentum throughout the day but the index managed to close in green. The index remains in a buy-on-dip mode as long as the index stays above 17,000. The immediate hurdle on the upside is at 17,200 where the highest open interest is built up on the call side. The index once surpassed the resistance will witness a sharp move on the upside toward the 17,500 level."
- Kunal Shah, Senior Technical Analyst at LKP Securities

4:05 PM Mar 23

COMMENT:: An an in-line and less hawkish policy stance by Fed will attract bulls

"Staying afloat in a volatile trade, the domestic market managed to remain positive, with the optimism that global banking system issue is behind us. Additionally, the volatility brought in from western markets ahead of the announcement of Fed policy and release of high UK inflation, tested market sentiments. The market has factored a 25 bps rate hike by Fed, and an in-line and less hawkish policy stance will attract bulls."
- Vinod Nair, Head of Research at Geojit Financial Services

4:00 PM Mar 23

Bank Nifty:: Breakout above 40,000 could induce a rally up to 41,000

"The Bank Nifty index has remained mostly sideways as the investors preferred waiting until after the Federal Reserve meeting on the rates and the follow-up commentary, which is more important. On the higher end, the index has found resistance at the 14DMA during the day's trade. The momentum indicator is in bullish crossover. A decisive breakout above 40,000 may induce a rally in the index, above which the index may move up towards 40,500/41,000 over the near term. On the lower end, support lies at 39,500."
- Rupak De, Senior Technical Analyst at LKP Securities

3:57 PM Mar 23

Sula Vineyards jumps 3.8% as CLSA initiates coverage with 'Buy' rating

Sula is well placed to leverage the global consumer shift towards the low-alcohol beverage segment - beer and wine, the brokerage report stated. READ MORE


3:55 PM Mar 23

Sobha tumbles 12.8%, hits 52-week low on raid by Income-Tax department

Sobha announced that a search by the Income Tax Department is being carried out at the registered office and other premises of the company. READ MORE


3:54 PM Mar 23

Anupam Rasayan hits 6-month high; zooms 40% in 5 weeks on strong outlook

Analysts are positive on the company's long term growth trajectory on the back of a robust product launch pipeline especially in high value fluorination chemistry. READ MORE


3:52 PM Mar 23

Hindustan Zinc gains 2.4% on declaring liberal interim dividend

Hindustan Zinc has fixed March 29, 2023 as the record date for the purpose of payment of fourth interim dividend worth Rs 26 per share. READ MORE


3:50 PM Mar 23

Emami surges 6% as board to consider share buyback on March 24

Meanwhile, in the past three months, the stock has shed 16 per cent, as against 4 per cent decline in the S&P BSE Sensex. READ MORE



3:48 PM Mar 23

VST Tillers soars 7.5% on achieving production milestone of 500,000 units at Malur plant

Currently, overall power tiller industry in India is around 60,000 units and it is expected to grow to 100,000 units by the year 2025, VST Tillers said. READ MORE


3:46 PM Mar 23

Market Breadth was positive; however more stocks hit 52-week lows in trades on Wednesday


3:44 PM Mar 23

BSE Smallcap Heatmap:: Nahar group stocks among winners


3:42 PM Mar 23

BSE Midcap Heatmap:: Emami, Voda Idea, Alkem surge up to 6%; ABB drops 3%


3:40 PM Mar 23

Select broader indices outperform benchmark Nifty 50; India VIX declines 1.8%


3:39 PM Mar 23

Nifty 50 Losers:: BPCL, NTPC, Coal India slip up to 2%


3:37 PM Mar 23

Nifty 50 Gainers:: HDFC Life, Bajaj twins, Sun Pharma rise up to 3%


3:36 PM Mar 23

Sensex 30 Heatmap:: 21 Gainers v/s 9 Losers


3:34 PM Mar 23

CLOSING BELL:: NSE Nifty50 adds 44 points to 17,152


3:33 PM Mar 23

CLOSING BELL:: S&P BSE Sensex ends 140 points higher at 58,215


3:18 PM Mar 23

Global Check:: US, UK stock futures mixed ahead of Fed decision


3:05 PM Mar 23

Silicon Valley Bank's loans to insiders tripled to $219 mn before it failed

The surge in loans to high-up figures may draw scrutiny as the Federal Reserve and Congress investigate the breakdown of Silicon Valley Bank, the biggest US bank collapse in more than a decade. READ MORE

SVB, Silicon valley bank

Topics :MARKET LIVEMARKET WRAPMarkets Sensex NiftyMarket trendsBSE NSEIndian marketsUS Federal ReserveFed rate hikesRupee vs dollarCrude Oil PriceFII flowsDIIsstocks to watchBuzzing stocks

First Published: Mar 22 2023 | 8:19 AM IST

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