The trader said that hectic buying in market heavyweights Reliance Industries, Bharti Airtel and IT stocks also bolstered investor sentiment. File
| Photo Credit: Paul Noronha
Rallying for the fourth straight session, stock market benchmarks Sensex and Nifty surged over 1% on Thursday (March 20, 2025), powered by across-the-board buying amid a mixed trend in global equities after the U.S. Federal Reserve maintained its rate cut projections for this year.
Hectic buying in market heavyweights Reliance Industries, Bharti Airtel and IT stocks also bolstered investor sentiment, traders said.
The 30-share BSE benchmark Sensex jumped 899.01 points or 1.19% to settle at 76,348.06, regaining the 76,000 level. During the day, it soared 1,007.2 points or 1.33% to 76,456.25.
The NSE Nifty surged 283.05 points or 1.24% to reclaim the 23,000-mark to finish at 23,190.65.
From the Sensex pack, Bharti Airtel, Titan, Tata Consultancy Services, Hindustan Unilever, Infosys, Nestle, Reliance Industries, Mahindra & Mahindra, HDFC Bank and Tata Motors were the biggest gainers.
However, IndusInd Bank, Bajaj Finance and UltraTech Cement were the laggards.
Meanwhile, the Federal Reserve said the U.S. economy still looks healthy enough to keep interest rates unchanged.
“On Wednesday (March 19, 2025), the Federal Reserve announced its decision to keep the policy rate in the 4.25-4.50% range. Policymakers anticipate two rate cuts in 2025, with economic growth projected at 1.7% and inflation at 2.7% for the year.
“Overall, this decision has mixed implications for currency movements, capital flows and market sentiment in India. Higher U.S. interest rates could lead to foreign capital outflows from Indian markets, whereas lower rates may attract investment,” Ravi Singh, SVP – Retail Research, Religare Broking Ltd, said.
In Asian markets, Seoul settled in the positive territory while Shanghai and Hong Kong ended lower. Japan’s Nikkei was closed for a holiday.
European equity markets were trading lower. U.S. markets ended significantly higher on Wednesday (March 19, 2025).
“Consistent falls of the U.S. dollar index (DXY) have reduced the intensity of FII selling while DII buying continues to be strong, thus triggering the recent upside,” Vinod Nair, Head of Research, Geojit Financial Services, said.
Global oil benchmark Brent crude rose 0.32% to $71.01 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,096.50 crore on Wednesday (March 19, 2025) after a day’s breather, according to exchange data. Domestic Institutional Investors (DII), however, bought equities worth ₹2,140.76 crore.
“Fed continues to project an additional two rate cuts this year which may create a tailwind for global equities in the near term,” Dhawal Ghanshyam Dhanani, Fund Manager at SAMCO Mutual Fund, said.
On Wednesday (March 19, 2025), the Sensex climbed 147.79 points or 0.20% to settle at 75,449.05. The Nifty rose 73.30 points or 0.32% to 22,907.60.
Published – March 20, 2025 04:54 pm IST
