Market Wrap, March 17: SENSEX gains 341 points, NIFTY50 settles above 22,500 level following global cues; 29 stocks hit 52-week high

The equity benchmark indices on Monday, March 17, closed in green following positive global cues and gains in the pharma and financial services.

During the trading hours, WPI inflation data was released. The wholesale price inflation increased 2.38% in February due to expensive manufactured food items like vegetable oil and beverages. According to government data released on Monday, the Wholesale Price Index (WPI)-based inflation was 2.31% in January. It was 0.2% in February 2024.

At close, the S&P BSE SENSEX stood at 74,169.95, rising 341.04 points, or 0.46%, while the NSE's NIFTY50 index ended 111.55 points, or 0.05%, at the 22,508.75 level.

Gains in the broader market also supported the benchmark indices.

Further, the market investors will be eyeing various global events to take further positions. The US Fed interest rate decision, tariff-related developments and foreign investors activity will further guide the equity market this week.

Last week, foreign portfolio investors (FPIs) continued to pull back money from the Indian equity market, withdrawing a little over ₹30,000 crore in the first fortnight of the month. According to exchange data, FPIs have offloaded shares worth ₹30,015 crore till March 13.

The total outflow by FPIs has reached ₹1.42 lakh crore in 2025 so far, data with the depositories showed.

Globally, among the Asian markets, the Shanghai Composite Index rose 0.19% to 6.57, while Hong Kong's Hang Seng Index advanced 0.77% to 24,145.57. Japan's Nikkei index gained 0.92% at 37,396.52 on Monday.

The US stocks showed a sharp recovery on Friday amid escalating trade war and recession fears.

A broad rally boosted all three major US stock indexes to solid gains, with recently battered tech-related megacaps enjoying a comeback.

The Dow Jones Industrial Average rose 674.62 points, or 1.65%, to 41,488.19. The S&P 500 advanced 117.42 points, or 2.13%, to 5,638.94, and the Nasdaq Composite gained 451.07 points, or 2.61%, to 17,754.09.

As many as 2,982 stocks traded on the NSE on Monday. Out of this, 1,134 advanced and 1,781 stocks declined, while 67 scrips remained unchanged.

A total of 29 stocks hit their 52-week highs, while 433 stocks touched their one-year lows. Besides, 74 stocks hit their upper circuit limits, and 204 touched their lower circuit bands on Monday.

At the end of the session, the volatility index India VIX stood at 13.42 levels, rising 1.01%.

The broader market rallied on Monday as the Nifty Midcap 100 settled 0.70% higher at the 48,461.80 level, while the Nifty Smallcap 100 advanced 0.48% to the 14,968.40 level.

Except for Nifty Media (-0.65%), Nifty Realty (-0.38%), Nifty PSU Bank (-0.24%), Nifty FMCG (-0.20%) and Nifty Oil and Gas (-0.05%), all the other sectoral gauges ended positive.

Nifty Financial Services Ex-Bank (1.58%), Nifty Pharma (1.56%), Nifty Healthcare Index (1.51%), Nifty Financial Services 25/50 (1.27%) and Nifty Financial Services (1.03%) were the most gaining sectors on Monday.

As many as 33 stocks on the NIFTY50 index traded positive, while only 17 closed in red. The biggest contributors on the index were Dr Reddy’s, SBI Life, Bajaj Finserv, Trent and Axis Bank, climbing as much as 3.93%.

On the flip side, Wipro, BPCL, Hero MotoCorp, ITC and Nestlé India were the top losers, declining as much as 1.53% on the 50-share index.

Shares of Inventurus Knowledge Solutions settled at ₹1,452 apiece, plunging 11.77% on the National Stock Exchange. The stock had touched its 52-week low of ₹1,440 during the session.

Nuvama Institutional Equities in a note said that starting Monday, 50 lakh shares equivalent to 6% of the total equity will be available for trading in the open market after the expiry of mandatory lock in period following its share sale via initial public offering (IPO).