The benchmark Sensex and Nifty indices are expected to open higher on March 13, with trends in the GIFT Nifty indicating a positive start for the broader index in India. The GIFT Nifty is set to gain 27.50 points, or 0.12 percent, with Nifty futures trading around the 22,466.50 level.
In a volatile session on March 12, the Indian benchmark indices ended on a mixed note, with the BSE Sensex rising 165.32 points or 0.22 percent to 73,667.96, while the Nifty gained three points or 0.01 percent to 22,335.70.
The pivot point calculator suggests that the Nifty may face resistance at 22,354, followed by 22,470 and 22,545 levels. On the lower side, immediate support is likely at 22,273, followed by 22,227 and 22,152.
Stay tuned to Moneycontrol for updates on the currency and equity markets today. Important headlines from news platforms, both Indian and international, could impact market movements.
In the US, stocks ended higher on Tuesday, with the S&P 500 registering a record-high close. Gasoline and shelter costs lifted US consumer prices in February, indicating some stickiness in inflation that could delay anticipated interest rate cuts from the Federal Reserve.
British American Tobacco is set to sell a 3.5 percent stake in India’s ITC Ltd for Rs 16,775 crore, offering shares at a 5 percent discount. SEBI has asked Vedanta India to pay Cairn UK Holdings Rs 77.62 crore for a late dividend payout.
India’s industrial output growth decelerated to 3.8 percent in January, while CPI inflation remained unchanged at 5.09 percent in February. Oil prices rose on Wednesday on expectations of strong global demand.
Foreign institutional investors (FIIs) net bought shares worth Rs 73.12 crore, while domestic institutional investors (DIIs) purchased Rs 2,358.18 crore worth of stocks on March 12. National Aluminium Company and Piramal Enterprises have been added to the F&O ban list for March 13.
With inputs from Reuters and other agencies, the market outlook for March 13 is expected to be dynamic and influenced by both domestic and international factors. Stay informed and stay tuned for updates on market movements throughout the day.
