The Nifty rose 119 points, or 0.54 percent, to 22,123.70 at the closing, while the Sensex was up 526.01 points, or 0.73 percent, at 72,996.31.
GIFT Nifty
With a gain of 14 points, or 0.06 percent, the GIFT Nifty trends point to a flat to positive start for the Indian index as a whole. The 22,195 level was the trading range for the Nifty futures.
US Exchanges
Drugmaker Merck led the advances in US stocks on Wednesday, with the Dow leading gains and the S&P 500 establishing a closing record. Investors were looking for clues about the Federal Reserve’s rate path in the form of the upcoming inflation data and commentary.
The S&P 500 climbed 44.91 points, or 0.86 percent, to 5,248.49, the Nasdaq Composite gained 83.82 points, or 0.51 percent, to 16,399.52, and the Dow Jones Industrial Average increased 477.75 points, or 1.22 percent, to 39,760.08.
Markets in Asia
Early on Thursday, Asian markets saw lower trading, with the Nikkei down 1% and the Kospi slightly down. In H1FY25, the center plans to borrow Rs 7.5 lakh crore through dated securities. During the April–September fiscal year of FY25, the Center plans to borrow Rs. 7.50 lakh crore through the issuing of government securities.
The federal government’s planned first-half borrowing, at Rs 7.50 lakh crore, represents 53.08 percent of the full-year estimate, according to a statement released by the finance ministry on March 27.
Central bank eager to add to its already historic FX reserves, according to sources
According to two people familiar with the bank’s thinking, India’s central bank will continue to increase its foreign exchange reserves as it works to create bigger buffers. The country’s equities and debt markets are seeing significant inflows, which presents a chance for the bank to do so.
Despite strong economic growth and a good balance of payments, analysts believe that the Reserve Bank of India’s assimilation of dollar inflows will indirectly avert a dramatic appreciation of the rupee.
As of March 15, the Reserve Bank of India’s (RBI) foreign exchange reserves reached a record high of $642.49 billion.
Block deals are probably how Cloverdell Investment will sell off all of its shares in IDFC First Bank.
Warburg Pincus affiliate Cloverdell Investment wants to get out of the private lender IDFC First Bank. A report on CNBC-TV18 states that on March 28, the corporation might sell all 2.25 percent of its shares through block agreements. The company wants to sell 15.9 crore shares, hence the offer amount is probably going to be Rs 1,191.40 crore. With a floor price of Rs 75 per share, the current market price is discounted by 4%.
Gold Rates
As investors awaited U.S. inflation statistics that could provide additional insight into the Federal Reserve’s policy trajectory, gold prices increased on Wednesday.
Unrefined
Following the official release of U.S. crude stockpile data and indications that the OPEC+ production group is unlikely to alter its output policy at a technical meeting next week, oil prices were largely stable on Wednesday.
Data from FII and DII
On March 27, provisional data from the NSE revealed that domestic institutional investors (DIIs) bought stocks worth Rs 1,197.61 crore, while foreign institutional investors (FIIs) net bought shares worth Rs 2,170.32 crore.
NSE stock is prohibited from F&O
Zee Entertainment Enterprises and Hindustan Copper have been put by the NSE to the F&O ban list for March 28. SAIL was taken off of that list.