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Stock markets began trading on a positive note on March 22, continuing their previous day’s rally, in line with a strong trend in global equities.
The 30-share BSE Sensex rose 344.1 points to 58,418.78. The broader NSE Nifty climbed 99.75 points to 17,207.25.
Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Larsen & Toubro, HCL Technologies, Bajaj Finserv, Tata Motors, IndusInd Bank and Tata Steel were major gainers in the Sensex pack. Power Grid, Kotak Mahindra Bank, NTPC, HDFC Bank and HDFC were the laggards.
In Asia, bourses in Seoul, Japan, Hong Kong and Shanghai were trading in the green. The US markets had closed at a very high level on 21 March. VK Vijayakumar, chief investment strategist at Geojit Financial Services, said, “The Fed’s decision today will be crucial in deciding the direction of the market.”
On Tuesday, the BSE benchmark had climbed 445.73 points or 0.77% to close at 58,074.68. The Nifty closed at 17,107.50, up 119.10 points or 0.70%. Meanwhile, global oil benchmark Brent crude fell 0.58% to $74.88 per barrel. Foreign portfolio investors sold shares worth Rs 1,454.63 crore on Tuesday, according to exchange data.