On March 27, 2024, the Indian stock markets displayed resilience and vigor despite global uncertainties. Here’s a recap of the day’s performance and major news highlights:
Market Performance
Sensex and Nifty Surge
- The Sensex surged by over 500 points, driven by sustained strength in index heavyweights like Reliance Industries, HDFC Bank, and Maruti.
- Closing at 72,996, the Sensex showcased remarkable recovery, coming off a 669-point intra-day rally1.
- The Nifty 50 jumped 119 points, closing at 22,1241.
Individual Stock Action
- Cipla entered into an exclusive partnership with Sanofi India to enhance access to Sanofi’s Central Nervous System (CNS) medications across India.
- SpiceJet settled liabilities worth ₹755 crore with aircraft lessor Export Development Canada (EDC)1.
Global Cues
- In Asia, the Nikkei gained 0.8%, while the Straits Times and Taiwan added 0.4% and 0.1%, respectively.
- However, the Hang Seng slipped by 1%, and the Shanghai Composite declined by 0.5%1.
- In the US, benchmark indices ended in red for the third straight day as investors awaited economic data to gauge the Fed’s policy path. The focus remains on the Personal Consumption Expenditure Price Index (PCE) due on Friday. The Dow slipped by 0.1% in late deals, while the S&P 500 and Nasdaq ended 0.3% and 0.4% lower, respectively1.
Conclusion
Despite global headwinds, the Indian stock markets continue to be resilient. Investors remain optimistic, and key catalysts, including significant FII buying, drive the positive sentiment. For real-time updates and further analysis, refer to reliable financial news sources.
Disclaimer: The information provided here is for informational purposes only and does not constitute financial advice. Always consult with a professional financial advisor before making investment decisions.