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Business News/ Markets / Live Blog/ Sensex Today | Market Close Highlights: Sensex ends up 190pts, Nifty at 22,096; IT index down 2.3%, broader market gains

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Sensex Today | Market Close Highlights: Sensex ends up 190pts, Nifty at 22,096; IT index down 2.3%, broader market gains

1 min read . Updated: 22 Mar 2024, 03:41 PM IST

Pranay Prakash

Sensex Today | Market Close Highlights : Foreign institutional investors (FIIs) net sold shares worth ₹1,826.97 crore, while domestic institutional investors (DIIs) bought ₹3,208.87 crore worth of stocks on March 21, provisional data from the NSE showed.

Sensex Today | Market Close Highlights : The NSE F&O ban list for March 22 includes SAIL, Balrampur Chini Mills, Biocon, Indus Towers, Piramal Enterprises, Tata Chemicals and Zee Entertainment Enterprises.

Sensex Today | Market Close Highlights : European stocks fell back from record highs on Friday but were still on course for a ninth straight week of gains, the longest winning streak since 2012, amid growing confidence in the economy and upcoming interest-rate cuts.

The Stoxx Europe 600 Index dropped 0.2% as of 9:06 a.m. in Paris. The benchmark eased to 508.86 points, a level which is still almost 2% higher than the median estimate for where the index is expected to finish 2024, according to a Bloomberg poll of 16 strategists.

U.S. stock index futures inched higher on Friday, setting Wall Street on course for strong weekly gains as investors cheered the Federal Reserve sticking to its rate-easing stance and awaited commentary from Chair Powell later in the day.

At 05:02 a.m. ET, Dow e-minis were up 18 points, or 0.04%, S&P 500 e-minis were up 5.75 points, or 0.11%, and Nasdaq 100 e-minis were up 32.75 points, or 0.18%.

Equities in Asia backtracked Friday, while the dollar advanced as investors parsed economic data for signals on interest-rate trajectories around the world.

China’s CSI 300 Index fell as much as 1.6%, on pace for its largest daily drop since January, and the Hang Seng Tech Index dropped more than 4%. Australian and Korean shares also declined. Japanese stocks rose. A gauge of the region’s shares had touched the highest level in almost two years in the prior session.

Contracts for US stocks were little changed in Asian trading after the S&P 500 index advanced 0.3% to a fresh high Thursday — its 20th of the year — led by gains in industrials and banks.

US economic data supported the argument the Fed may be forced to backtrack on its rate-reduction forecasts a day after the central bank indicated three 25-basis-point cuts in 2024. Housing, manufacturing and labor-market data released Thursday in the US pointed to a resilient economy that could prompt the Fed to reduce interest rates slower than the market expects.

The yen was little changed, trading near 152 per dollar as Japan’s inflation accelerated to the quickest pace in four months. Markets will stay focused on whether the Bank of Japan might follow its first interest rate hike since 2007 with further increases later this year.

Some US tech stocks faltered, with Apple Inc. and Alphabet Inc. falling against the backdrop of heightened regulatory pressure. The US Justice Department and 16 attorneys general are suing the iPhone maker for violating antitrust laws.

The Reserve Bank of Australia released a financial stability review on Friday, saying that banks are strong and households resilient to higher rates.

Ahead in Asia, Taiwan will publish February jobs data.

In commodities, oil held a two-day drop, with traders assessing the outlook for global interest rates and geopolitical tensions in the Middle East. Elsewhere, Bitcoin traded below $66,000, while gold fell after surging above $2,200 an ounce for the first time.anese stocks nudged higher. Hong Kong and China both opened lower. The moves followed Thursday’s sharp rally for a gauge of the region’s shares, which touched the highest level in almost two years.

Contracts for US stocks rose in early Asian trading after the S&P 500 index advanced 0.3% to a fresh high Thursday — its 20th of the year — led by gains in industrials and banks. Reddit Inc. shares soared 48% on their debut.

“This week, the Reserve Bank of Australia, the Federal Reserve, the Swiss National Bank, and the Bank of England joined for the dovish chorus," said Tony Sycamore, market analyst with IG Australia Pty Ltd. “The song tells the story of central banks being less concerned with inflation and more concerned with growth. It concludes with expectations of rate cuts being reinforced and growth prospects backstopped."

Treasuries and an index of the dollar were both steady on Friday.

The yen was little changed, trading around 152 per dollar as Japan’s inflation accelerated to the quickest pace in four months. Markets will stay focused on whether the Bank of Japan might follow its first interest rate hike since 2007 with further increases later this year.

Central banks remained firmly in focus. The Swiss National Bank unexpectedly cut interest rates on Thursday, weakening its currency against peers, while Mexico’s central bank cut rates as predicted. The Bank of England kept rates at a 16-year high of 5.25%.

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Sensex Today | Market Close Highlights: Sensex ends up 190pts, Nifty at 22,096; IT index down 2.3%, broader market gains

Sensex Today | Market Close Highlights : Foreign institutional investors (FIIs) net sold shares worth ₹1,826.97 crore, while domestic institutional investors (DIIs) bought ₹3,208.87 crore worth of stocks on March 21, provisional data from the NSE showed.

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Sensex Today | Market Close Highlights: Sensex ends up 190pts, Nifty at 22,096; IT index down 2.3%, broader market gains

Sensex Today | Market Close Highlights : Foreign institutional investors (FIIs) net sold shares worth ₹1,826.97 crore, while domestic institutional investors (DIIs) bought ₹3,208.87 crore worth of stocks on March 21, provisional data from the NSE showed.

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