Stock Market Live Updates: Nifty Above 22k, Sensex Down 380 Pts; Realty Sector Shines

The market erased its early losses and continued to rise over the remainder of the trading session, as the Sensex closed comfortably above 73,000 and the Nifty crossed 22,200 intraday.

At the closing, the Nifty was up 149 points, or 0.68 percent, at 22,146.70, and the Sensex was up 335.39 points, or 0.46 percent, at 73,097.28.

Adani Enterprises, Adani Ports, Hero MotoCorp, Hindalco Industries, and ONGC were among the top gainers on the Nifty, while Axis Bank, IndusInd Bank, Bajaj Finance, Tata Steel, and JSW Steel were among the losers.

GIFT Nifty:

The GIFT Nifty has lost 121 points, or 0.54 percent, suggesting that the wider index in India is off to a poor start. Around 22,142 was the trading level for the Nifty futures.

Asian Markets:

Friday’s trading saw a decline in Asian Stock market live following the surprise 0.6% growth in producer prices in the United States in February.

With the first estimates anticipated to be released later in the day, investors throughout Asia will be keeping a close eye on any updates from Japan’s spring wage negotiations.

OMCs Cut Fuel and Petrol Costs

State-run Oil Marketing Companies (OMCs) declared that starting at 6 a.m. on 15 March, the price of petrol and diesel would be reduced nationwide by Rs 2 per litre.

Diesel will be sold in Delhi for Rs 87.62 per litre, while petrol would now cost Rs 94.72 per litre, down from Rs 96.72 previously. The OMCs’ action coincides with the nation’s upcoming Lok Sabha elections.

Morgan Stanley

According to Morgan Stanley researchers, investments in India are expected to rise at a faster rate than consumption over the coming years. In 2026-2027, Gross Fixed Capital Formation (GFCF) is expected to reach 36% of GDP.

In a research released on March 13, Morgan Stanley economists stated, “Real GFCF growth continued to hold strong at 10.5 percent in 4Q23 (October-December 2023), staying above the pre-Covid 2017-18 average of 9.6 percent.”

In February, US Retail Sales Increased

Retail sales in the United States increased in February due to growth at petrol stations and auto dealerships, but consumer spending is slowing as people deal with rising borrowing costs and inflation.

Retail sales increased by 0.6% in the previous month, the Census Bureau of the Commerce Department announced on Thursday. Sales for January were down 1.1%, as opposed to the 0.8 percent that had been previously reported, according to revised data. Retail sales, which are primarily goods-related and are not inflation-adjusted, were predicted by economists surveyed by Reuters to increase by 0.8 percent in February.