- Midcap and Smallcap Outperformance: Midcap 100 and Smallcap 100 indices surged by 0.8% and 1%, respectively, continuing their strong performance.
- Benchmark Indices: Nifty and Sensex opened strong on March 20, marking their fourth consecutive session of gains, following the Federal Reserve’s reaffirmation of two rate cuts in 2025.
- IT Stocks Lead the Rally: Rate-sensitive IT stocks played a major role in driving the rally, pushing the indices higher.
- Global Market Performance: Wall Street extended its gains, with the Dow Jones, S&P 500, and Nasdaq rising by 1-1.4%.
- Asia-Pacific Markets: Asian markets also rose, taking cues from Wall Street’s positive momentum after the Federal Reserve held interest rates steady and downplayed the risk of a severe economic downturn.
- Federal Reserve Update: The Fed kept interest rates at 4.25-4.50% but expressed concerns over rising economic uncertainty, especially inflation risks linked to Trump’s proposed tariffs.
- Market Snapshot: At 9:30 am, Sensex was up by 499.03 points (0.66%) at 75,948.08, and Nifty was up by 148.90 points (0.65%) at 23,056.50.
- Market Breadth: 2511 shares advanced, 409 shares declined, and 108 shares remained unchanged.
