Sensex, Nifty rise as Auto, Pharma stocks drive market momentum

The domestic share market traded on a positive note on Monday, led by gains in bank and auto stocks,driven by favorable global cues despite weak market breadth. At close, the Sensex was up 341.04 points or 0.46 percent at 74,169.95, and the Nifty was up 111.55 points or 0.50 percent at 22,508.75. BSE Midcap index ended up 0.7 percent and smallcap index ended on a flat note.
Bajaj Finserv, SBI Life Insurance, Dr Reddy's Labs, Trent, Axis Bank were the top gainers on the Nifty, while losers included Britannia, Hero MotoCorp, Wipro, BPCL, ITC.On the sectoral front, auto, bank, metal, power, pharma rose 0.5-1.5 percent, while realty, media were down 0.5 percent each.BSE Midcap index up 0.7 percent and smallcap index ended on flat note.
Rupee Close:
On 17 Mar'25,the Indian rupee rupee appreciated 24 paise to close at 86.81 against the US dollar on Monday on positive domestic equities and weakness of the American currency in the overseas market.Forex traders reportedly stated the rupee traded with a slight positive bias on weakness in the US dollar and positive global markets. However, surge in crude oil prices capped sharp gains for the local unit.
Expert Outlook:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,the national market experienced a positive trading session, driven by strong performance in the healthcare and financial sectors. However, lower participation from domestic investors due to tariff-related uncertainties may cause the market to fluctuate within a range in the near term. A decisive momentum will depend on signs of earnings growth, while improving domestic economic indicators suggest a potential recovery. Investors are closely monitoring the upcoming FED and BOJ meetings, with expectations leaning towards maintaining the current stance due to inflation risks associated with tariff uncertainties. Market experts recommended five shares to buy-Som Distilleries and Breweries, Aavas Financiers, Swaraj Engines, Godrej Industries, and Avanti Feeds.

(Business Correspondent)