Markets rally for 3rd Day: Broader indices gain over 2%

Indian benchmark indices extended gains for the third straight session on Wednesday March 19, with Nifty closing above 22,900, driven by broad-based buying except in IT and FMCG stocks. Investors remained cautious ahead of the Federal Reserve's policy decision later tonight. At close, the Sensex was up 147.79 points or 0.20 percent at 75,449.05, and the Nifty was up 73.30 points or 0.32 percent at 22,907.60.
Shriram Finance, HDFC Life, Apollo Hospitals, Tata Steel, Power Grid Corp were the top gainers on the Nifty, while losers included Tech Mahindra, TCS, ITC, Infosys, Britannia Industries.On the sectoral front, except IT, FMCG, all other sectoral indices ended in the green with Consumer Durables, Capital Goods, Realty, Oil & Gas, Media, Metal, Power, PSU Bank up 1-2.8 percent. BSE Midcap and smallcap indices rose more than 2 percent each, according to information.
Rupee Close:
On 19 Mar'25,the Indian rupee appreciated 12 paise to close at 86.44  against the U.S. dollar on Wednesday,supported by a positive trend in domestic equity markets and lower global crude oil prices. However, a strengthening American currency against major currencies overseas ahead of the U.S. Federal Reserve’s interest rate decision capped the sharp gain in the local unit, forex traders reportedly stated.
Markets: Expert Viewpoint
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying, the domestic market continued its positive momentum, as part of the recent correction was justified by valuation. The sustainability of the relief rally depends on a revival in fundamentals. The recovery was broad- based, while metal stocks gained attention after the government decided to impose a tax on steel imports. In light of trade uncertainties and growth concerns, today's FED policy and the commentary will be keenly watched by investors to get cues on interest rates. Market experts recommended seven shares to buy-Aarti Pharmalabs, E I D-Parry (India), Vimta Labs, Mps, Jindal Drilling and Industries, Blue Star, and Cartrade Tech.

(Business Correspondent)