Stock market updates: CDSL plummets 5%, Nifty reaches 22,100, while Sensex gains 350 points

Sensex Today: Despite conflicting indications from international rivals, Indian equity benchmark indexes were seen maintaining consistent increases throughout Wednesday’s intraday trading.

The S&P BSE Sensex began trading at 72,692, up 222 points, and it was seen to have gained almost 175 points at the 72,650 levels. At 22,069.50., the NSE Nifty 50 was up 64 points.

With a 1% gain, Reliance led the pack of Sensex 30 companies in movements. Maruti, Bajaj Finance, Tata Motors, Axis Bank, and Larsen & Toubro came next. Conversely, Wpro, Nestle India, and HDFC Bank had somewhat negative numbers.

Early trades showed that the larger indexes were holding significant gains. The BSE SmallCap index increased by 0.7%, while the BSE MidCap index rose by 0.5%.

Sanofi India’s individual shares increased by 4%, while Cipla’s increased by 1% after the two companies’ exclusive cooperation to increase access to Sanofi’s Central Nervous System (CNS) pharmaceuticals across India.

Market View from Geojit Financial Services’ Chief Investment Strategist, Dr. V. K. Vijayakumar.

It is probable that the market will stay in a state of consolidation for a few more days before beginning a new directional trend in April. Strong economic fundamentals continue to sustain the positive undertone of the market.

The steady inflows into momentum-building stock mutual funds are a key structural trend in the market. This will guarantee the market’s resiliency when dips are purchased.

Once again, midcaps are the focus of activity, especially for small and medium-sized investors. This is because, in contrast to large-cap stocks, where institutions, particularly FIIs, have substantial holdings, there is little institutional selling pressure in mid-cap stocks.

In early April, capital goods, cars, and financials are probably going to lead the rally. The economy’s remarkable 20% credit expansion will help increase banks’ profits. Bank Q4 results will be favorable.

Worldwide Cues
As investors awaited economic data over a holiday-shortened week to assess the Federal Reserve’s policy course, US equities fell on Tuesday, giving up small gains late in the session to push the Dow and S&P 500 to their third consecutive fall.