Market at Close | Sensex rises 341 points, Nifty holds above 22,500 on positive global cues

The Indian stock market closed higher on Monday (March 17), buoyed by positive global cues, with the Nifty index holding strong above the 22,500 mark. The Sensex gained 341 points, closing at 74,170, while the Nifty added 112 points to finish at 22,509.Despite the optimism in the frontline indices, the broader market saw a more subdued performance, with the market breadth favouring declines as advancing stocks were outpaced by decliners. The Nifty Bank index rose 294 points to 48,354, while the Midcap index surged 337 points to 48,462.

In particular, Bajaj Finserv and Bajaj Finance saw notable gains, both advancing by 2% following strong buying interest. On the other hand, Maruti and Tata Motors closed with minor cuts after

Tata Motors announced a price hike for its commercial vehicles.
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Bank ended the day higher but came off its intraday highs after the RBI made a statement that had a temporary dampening effect.

Trent stood out among the Nifty gainers, climbing 3% as the company hosted several analyst meets, while Muthoot Finance surged 5% following positive loan data and strong movement in gold prices.

In the midcap space, IEX, Coromandel, Atul, UPCL, HUDCO, and Varun Beverages emerged as top gainers, reflecting strength in specific sectors. Meanwhile, LTIMindtree saw a decline after reports emerged that one of its major clients plans to reduce IT spending.

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Ola Electric saw a sharp slide of 7% after its registration agency, Rosmerta Digital, accused the company of defaulting. Meanwhile, NACL Industries surged 20%, hitting the upper circuit, as investors digested news of Coromandel’s share buyback offer.

The session closed with the NSE advance-decline ratio at 1:2. Despite the mixed market breadth, the overall sentiment remained positive, led by strong performances in specific sectors.