The Indian share market opened on a strong note on Thursday, following the US Federal Reserve’s decision to keep interest rates unchanged. The Fed also revised down its growth projections while raising inflation and unemployment estimates. Investors responded positively to these developments, leading to a surge in both the Sensex and Nifty indices.
At the opening bell, the Sensex climbed 381.49 points to 75,830.54, while the Nifty gained 118.65 points, opening at 23,026.25. Market sentiment remained positive, with 41 out of 50 Nifty companies recording gains, while only 9 saw declines.
The Sensex surged 147.79 points to close at 75,449.05 on Wednesday. Meanwhile, Nifty50 was up 73.30 points to close at 22,907.60 points.
Among the top gainers in the Nifty index were Wipro, Infosys, Bharat Electronics Limited (BEL), Hero MotoCorp, and HCL Technologies. On the other hand, HDFC Life, UltraTech Cement, JSW Steel, Sun Pharma, and Dr Reddy’s Laboratories were the biggest losers.
Despite continued Foreign Portfolio Investor (FPI) selling, Indian markets managed to rise, signalling strong domestic resilience. The Nifty 50 is on track to cross the 23,000 mark, which could trigger a further market rally by squeezing short positions. However, concerns remain over global trade tensions, particularly with reciprocal tariffs set to take effect on April 2.
Share Market: What Experts Are Saying?
Ajay Bagga, banking and market expert, said, “All Central banks acted as per market expectations yesterday. The Bank of Japan hit the pause button, citing continued trade policy uncertainty as an overhang on its economy.”
He added, “Bank Indonesia refrained from further cuts in the face of the sharp falls in the Rupiah as well as the stock market as a reaction to falling consumption demand and business sentiment. The PBOC did not announce any changes to its Prime Rates this morning for key terms.”
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