Share Market Highlights 21 March 2024: Sensex, Nifty close higher on positive global cues; Nifty Realty and Metal stocks shine

Sensex, Nifty updates on 21 March 2024: Indian equity markets ended the session higher, buoyed by positive global signals. This was driven by the US Federal Reserve’s anticipated decision to maintain interest rates and a rise in HSBC’s March flash India Composite Purchasing Managers’ Index (PMI). By 3:30 p.m., the BSE Sensex surged 539.50 points or 0.75% to 72,641.19, while the NSE Nifty rose 172.85 points or 0.79% to 22,011.95. HSBC’s flash India Composite PMI, compiled by S&P Global, increased to 61.3 this month from February’s final reading of 60.6. All NSE sectoral indices traded positively. The US Federal Reserve kept key interest rates unchanged at 5.50% for the fifth consecutive time, with the Fed chief indicating an expectation of three rate cuts in 2024. Despite easing inflation, the Fed intends to hold off on rate cuts until it is more confident about inflation reaching 2%. This resulted in US stocks maintaining a positive trend, closing around 1% higher. Equities in the Asia Pacific region also surged, with Japan’s Nikkei hitting a record high.