Sensex Today Rallies 526 Points | Angel One Surges 9% | 3 Reasons Why Indian Share Market is Rising

Wed, 27 Mar Closing

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After opening the day on positive note, Indian share markets gained the momentum as the session progressed and ended on firm footing.

Indian equity benchmark indices exhibited a positive trend in Wednesday's intra-day trade backed by strong gains in index heavyweight Reliance Industries and auto stocks.

At the closing bell, the BSE Sensex stood higher by 526 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 143 points (up 0.6%).

Reliance Industries, Bajaj Auto, Titan were among the top gainers today.

Wipro, Apollo Hospital and Hero MotoCorp on the other hand, were among the top losers today.

The GIFT Nifty was trading at 22,191, up by 102 points, at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended flat and BSE SmallCap index ended 0.7% higher.

Sectoral indices are trading mixed, with socks in banking sector, power sector and realty sector witnessing most buying. Meanwhile, stocks in metal sector, IT sector and media sector witnessed selling pressure.

Shares of Maruti Suzuki, Bosch, ABB India hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.37 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 66,900 per 10 grams.

Meanwhile, silver prices were trading flat at Rs 74,549 per 1 kg.

Here are three reasons why Indian Markets are rising today

#1 FII Flow

India attracted the highest foreign investment inflows in the Asian market, excluding Japan, in March. Overseas investors have invested $3.63 billion in the Indian markets during the month so far. Apart from this, investments from domestic investors hit a four-year high in March.

#2 Upbeat Global Markets

Asian shares bounced while Japan's Nikkei jumped 0.9% on Wednesday after the US Federal Reserve indicated it would stick with plans for cutting interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan was trading marginally higher.

#3 Buying in Heavyweights

Strong gains was seen in index heavyweight Reliance Industries and auto stocks. Reliance was the top mover among the Sensex 30 pack, up 2%. It was followed by Maruti, Bajaj Finance, Tata Motors, Axis Bank and Larsen & Toubro. On the other hand, Wpro, Nestle India and HDFC Bank were marginally in red.

Speaking of stock markets, in 1947 a group of researchers at Bell Labs, a subsidiary of AT&T, invented the transistor, a switch that controls electric current.

A thriving industry grew up around California, outsourcing low-value tasks, such as chip assembly, to Asia, where labour was cheaper.

Japanese firms such as Toshiba and Fujitsu managed to take a share of some chip markets.

Decades later China's tech titans reduced the country's dependence on foreign chips.

Now it is India's turn.

Co-head of Research at Equitymaster, Tanushree Banerjee talks about how you could cash in, in her latest video.

Tune in to the below video:

Why Adani Power Share Price is Rising

In news from the power sector, Shares of Adani Power traded more than 4% higher in the early trade on 27 March after the fair trade regulator Competition Commission of India (CCI) approved the company's proposed acquisition of Lanco Amarkantak Power.

Adani Power proposes to acquire 100% share capital and control of Lanco Amarkantak Power, under the corporate insolvency resolution process (CIRP) initiated under the Insolvency and Bankruptcy Code, 2016 (IBC). Lanco Amarkantak Power is into thermal power generation.

Adani Power announced on 5 March it got approval from the creditors for the resolution plan to acquire Lanco Amarkantak Power.

CCI said the transaction would not have a significant adverse impact on competition in any plausible relevant market in India.

On 26 March, the company disclosed a new litigation involving a petition filed by the Maharashtra State Electricity Distribution Company (MSEDCL) with the Maharashtra Electricity Regulatory Commission (MERC). The petition pertains to the calculation of domestic coal transportation costs.

For more, check out Adani Power vs Tata Power: Which Power Stock is Better for 2024?

Coal India Trades in Red. Here's why.

Moving on to news from the mining sector, shares of Coal India traded in the red intraday after making some early gains on 27 March. The movement in the share price of the coal miner was seen hours after a large containership crashed into the Baltimore bridge, shutting down the second largest exit point for coal shipments from the US for now.

The 1.6-mile Baltimore bridge caved in when the large containership rammed into it on 26 March US time.

The coal that is shipped out of Baltimore includes a large portion of thermal coal imported by India for electricity generation. In 2023, India imported 7.27 million tonnes (MT) of coal from the US.

According to market reports, coal exports from the port could be blocked for around six weeks, with 2.5 million tonnes of coal held back from shipping. The closure of this hub could lead to disruption in the global supply chain.

According to ship-tracking data, traders exported around 22.9 million tonnes of coal in 2023 from the Baltimore port to India, China and Europe. This represented around 27% of all seaborne coal exports from the US.

To know, what is the way forward for Coal India after the run-up in price, check out Can Coal India Crash to Rs 300 Per Share?

Also, check out our recent editorial Best High Dividend Stock 2024: Vedanta vs Coal India.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers