Stock Market News: The domestic benchmark equity indices, the Sensex and the Nifty 50, closed Wednesday's choppy session on flat note. However, the underlying market patterns were not very discouraging. Maruti Suzuki, Nestle India, Power Grid, and SBI were among the stocks that were on spotlight today.
These stocks had positive bias in today's trading session, while the top laggards were Tata Steel, Tata Motors, Axis Bank, HDFC Bank, HUL, JSW Steel, and HCL Tech. Also Read: Stock market today: Sensex, Nifty 50 eke out gains ahead of US Fed meet outcome Investors pay close attention to the US Federal Reserve's policy decisions; the dot plot is to be released at 23:30 IST today. Additionally, the SBI electoral bonds data that would trickle in by 17:00 IST on March 21 would be another crucial topic.
The 30-share BSE Sensex ended higher by 89.64 points or 0.12% at 72,101.69 level while the Nifty 50 closed at 21,839.10 level, up 21.65 points or 0.10%. Indian markets recovered, finishing with moderate gains, according to Vinod Nair, Head of Research at Geojit Financial Services. He attributed this recovery to positive global mood and strong direct tax collection.
“As per latest market consensus, the odds of rate cut in June have reduced. The US Fed is likely to delay the cut rate to the latter part of the year due to a resilient economy. Domestic mid & small caps are likely to lag large caps driven by premium valuations, in the short-term," added Nair.
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