Indian stock indices positive as US markets rebound |
Indian domestic indices opened in green on March 21 as NSE Nifty 50 rose 69.30 points or 0.41 percent to 17,057.70 and BSE Sensex climbed 214.47 points or 0.37 percent to 57,843.42. This follows the losses in the closing session on March 20 amid mixed global cues which ended the two-day winning streak and ended over half a percent lower. The fall in domestic equities on March 20 was attributed to worry among investors about contagion risks in the global banking system despite a historic Swiss-backed acquisition of troubled Credit Suisse by UBS Group offering some relief. The Sensex slipped 361 points, or 0.62 percent, to close below the 58,000 level at 57,629. The Nifty dropped 112 points or 0.65 percent to settle below the 17,000 mark at 16,988. In the broader market at the BSE, the Mid-Cap and the Small Cap indices shed 1 percent each. In the Sensex Index, which is a pack of 30 companies, shares of 23 firms fell while those of 7 rose. Hindustan Unilever gained two and a half percent, followed by ITC up by 0.8 percent and Kotak Bank added 0.5 percent. On the other hand, Bajaj FinServe plunged 4.3 percent, Bajaj Finance 3.2 percent and Wipro declined 2.5 percent. In sectoral indices at BSE, except the FMCG sector which gained 0.6 percent, the rest 19 sectors logged losses. The metal sector fell 2.2 percent, followed by the Commodities and IT sectors tumbling 1.3 percent each. The overall market breadth was negative as shares of 1,072 companies rose while those of 2,571 companies fell.
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