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Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
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Sensex, Nifty Extend Winning Streak For 5th Day, Wrap Up Week With 4 Pc Gain

OMMCOM NEWS by OMMCOM NEWS
March 21, 2025
in Nation
Sensex and Nifty

Mumbai: Benchmark equity indices Sensex and Nifty on Friday continued their upward momentum for the fifth consecutive session, driven by a stronger rupee and a rebound in IT stocks.

Fresh foreign fund inflows further boosted investor sentiment. The Sensex touched an intra-day high of 77,042 before settling at 76,906, rising by 557 points. Over the week, the index surged by 3,077 points, or 4.17 per cent.

Similarly, the Nifty climbed to a high of 23,403 and ended the day at 23,350, gaining 160 points. For the week, the Nifty jumped 953 points or 4.26 per cent.

Among the top gainers on the Sensex, NTPC led the way with a 3.3 per cent rise on Friday. Bajaj Finance, Sun Pharma, Larsen & Toubro, Kotak Mahindra Bank, Nestle India, Tata Motors, and Axis Bank also recorded strong gains.

On the other hand, Mahindra & Mahindra declined by over 1 per cent, while Tata Steel, Infosys, Titan, and Bajaj Finserv also ended lower.

In the broader market, the BSE MidCap index climbed over 1 per cent, while the SmallCap index surged more than 2 per cent during the intra-day trading session.

The BSE Oil & Gas index led the sectoral gains, rising over 2 per cent, while the Power, Healthcare, and Financial Services indices also recorded strong growth.

On the downside, the BSE Consumer Durables index declined by 0.8 per cent, and the Metal index slipped 0.4 per cent.

The rupee strengthened further with a sharp rise of Rs 0.40 or 0.46 per cent at 85.94, as FII inflows surged with strong buying figures in recent days.

“The Fed’s decision to hold rates steady and its forecast for lower interest rates ahead pulled the dollar down, providing significant support to the rupee, but major Capital market strengthening gives the rupee the strong push higher,” said Jateen Trivedi of LKP Securities.

“Gold continued to witness profit booking as rupee strength pressured MCX prices below Rs 88,100, testing the crucial Rs 88,000 zone,” the analyst noted.

He added that before any fresh upside, gold may test lower support zones around $2,950–$2,965, as risk sentiment appears to be stabilising on the global front, reducing the premium on uncertainty.

(IANS)

Tags: IT stocksMumbaiNiftySensex
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