Mumbai (Maharashtra) [India], March 20 (ANI): The Indian stock market ended Thursday on a high note, with both Sensex and Nifty witnessing a remarkable surge amid a stable global sentiment.
Investors remained optimistic despite looming concerns over tariff policies, with the benchmark indices closing at record highs.
The BSE Sensex soared by 899.02 points, closing at 76,348.06, while the NSE Nifty climbed 283.05 points, ending at 23,190.65. The overall market breadth remained positive, with 44 Nifty companies advancing, four declining, and two remaining unchanged.
Among the biggest gainers of the session were Bharti Airtel, Titan, Eicher Motors, Bajaj Auto, and Britannia, which saw substantial buying interest. Conversely, IndusInd Bank, Bajaj Finance, Trent, and Shriram Finance were the top losers, experiencing downward pressure.
Market expert VLA Ambala, SEBI-registered research analyst and co-founder of Stock Market Today, analyzed the day’s trend, stating that Nifty formed a bullish Belt Hold candlestick pattern with its RSI at 61, suggesting that traders should adopt a buy-on-dip strategy for both intraday and swing trading.
“India remains the ‘apple of the eye’ for developed nations due to its role as both a major supplier of manpower and a vast consumer market. This ensures India’s significance on the global economic stage,” Ambala said.
She further added that the ongoing pullback movement could drive Nifty toward the 23,500-24,000 range in the coming weeks. Traders are advised to invest in quality stocks during dips and focus on sector leaders for optimal returns.
The bullish market sentiment comes amid a key international trade development. US President Donald Trump has announced that from April 2, the US will impose reciprocal tariffs on India, matching the duties India levies on American goods. However, India is prioritizing negotiations over a bilateral trade agreement with the US, which is expected to be finalized by the end of the year.
Looking ahead, analysts anticipate Nifty to find support between 23,150 and 23,120, while resistance is expected around 23,400 and 23,490 in the next session.
With positive domestic cues and global confidence in India’s economic resilience, the market appears poised for further gains, making it an opportune time for investors to capitalize on market corrections and invest strategically. (ANI)
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