Indian shares settled Monday’s volatile trading session with gains as the Street turned cautious ahead of the US Federal Reserve interest rate decision on March 20.
The benchmark 30-share BSE Sensex settled higher by 105 points, or 0.14%, at 72,748. The broader 50-share NSE Nifty50 rose by 32 points, or 0.15%, to close at 22,056. Metal and auto stocks led the gains, but IT and Teck shares capped the upside.
#MarketAtCLose | Market ends mixed in a rangebound session, broader market underperforms
Nifty holds on to 22,000 with Metals being a major supportSensex rises 105 points to 72,748 & Nifty 32 points to 22,056Nifty Bank down 18 points to 46,576 & Midcap Index 184 points to… pic.twitter.com/PpIUg2GVeF— CNBC-TV18 (@CNBCTV18Live) March 18, 2024
Index heavyweight Reliance Industries Ltd (RIL) rebounded more than 1.5% from the day's low, lifting Sensex and Nifty. The oil-telecom-retail conglomerate settled 1.45% higher.
Tata Steel rose the most by 5% among Sensex gainers, followed by Mahindra & Mahindra, JSW Steel, Tata Motors, Axis Bank, Sun Pharma, Reliance Industries and Maruti Suzuki among others.
IT shares declined amid investor worries over interest rates in the US market. Infosys fell the most by 2% among Sensex losers. Tata Consultancy Services, Titan, Wipro, Hindustan Unilever and Nestle also declined.
In the broader market, the BSE midcap gauge ended flat in the green, while the smallcap index ended flat in the red. Among sectoral indices, metal zoomed nearly 3%, auto gained over 1%.
Foreign institutional investors (FIIs) sold shares worth ₹2,051.09 in equities today, while domestic institutional investors (DIIs) bought shares worth ₹2,260.88 crore, according to the provisional data available on BSE.
#FundFlow | FIIs net sell ₹2,051.09 crore while DIIs net buy ₹2,260.88 crore in equities today (provisional) pic.twitter.com/2wchQfCJUC
— CNBC-TV18 (@CNBCTV18Live) March 18, 2024
The US Federal Open Market Committee (FOMC) meeting will commence on March 19 and the policy rate decision will be announced on Wednesday.
First Published: Mar 18, 2024 5:42 PM IST
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