Sensex Jumps 633 Pts, Nifty at 23,778 Ahead of US Fed Decision — ₹5 Lakh Crore Wealth Created in a Day | Stock Market Today

The Indian stock market saw a strong comeback today. Sensex jumps 633 pts, Nifty at 23,778 ahead of the US Fed decision, setting the tone for a positive close.

It wasn’t just a routine rally. There was momentum, global support, and cautious optimism—all coming together in one session.

Market Performance: Strong Close Backed by Global Cues

The benchmark indices ended the day firmly in the green, tracking gains across global markets and easing oil prices.

• Sensex surged 633 points (0.83%) to close at 76,704
• Nifty 50 gained 196 points (0.83%) to settle at 23,778

During the session, the rally picked up pace:

• Sensex touched an intraday high of 76,929.30 (up 858 points)
• Nifty climbed to a high of 23,836 (up 255 points)

There was steady buying through the day, not just in large caps but across the broader market too.

₹5 Lakh Crore Added — A Single Day Impact

One of the biggest highlights of today’s move was the sharp jump in market capitalisation.

• Total market cap of BSE-listed companies rose by around ₹5 lakh crore
• It moved closer to the ₹438 lakh crore mark

This kind of expansion reflects broad participation and improved investor sentiment, not just index-heavy movement.

Broader Markets Outperform — Midcaps & Smallcaps Shine

The rally was not limited to frontline stocks. Broader indices outperformed, indicating wider market strength.

• Nifty Midcap 100 rose between 1.5%–2%
• Nifty Smallcap 100 also gained in the same range

Sector-wise movement showed clear trends:

• Top performers: IT, Auto, Realty
• Lagging sector: Metal (ended in the red)

This tells a simple story—money is rotating, and investors are selectively positioning ahead of global triggers.

Main Trigger: US Fed Decision in Focus

While the rally looked strong on the surface, the underlying sentiment remains cautious.

All eyes are now on the US Federal Reserve’s policy decision, expected later tonight.

• The Fed began its two-day meeting on March 17
• Outcome is due on March 18 (US time)
• In India, the announcement is scheduled at 12:30 AM IST on March 19

There’s a lot at stake.

The global backdrop is not simple. The ongoing US-Iran conflict, which began on February 28, has already impacted oil supply and pushed prices higher. This raises concerns around inflation and economic growth.

At the same time:

• Markets expect no change in interest rates for now
• Rate outlook has turned tighter, with expectations of just one 25 bps cut later this year

This balancing act between inflation and growth is what markets are closely watching.

Global Markets Support the Rally

Indian markets didn’t move in isolation. Global cues played a key role.

Asia & Europe Markets

• Japan’s Nikkei 225 jumped 2.9%
• South Korea’s Kospi surged 5%
• Hong Kong’s Hang Seng rose 0.6%
• Shanghai Composite gained 0.3%

In Europe:

• Germany’s DAX climbed 0.7%
• France’s CAC 40 rose 0.9%
• UK’s FTSE 100 edged up 0.2%

US Futures

• US futures were up around 0.5%

The key reason? Oil prices eased slightly, offering relief to global markets.

Crude Oil: Slight Cooling After Recent Spike

Oil prices saw some cooling after a sharp rise in previous sessions.

• Brent crude slipped 0.3% to $103.12 per barrel
• WTI crude fell 1.6% to $94.65

This came after Iraq resumed exports through a key pipeline route.

Still, prices remain elevated:

• Brent has stayed above $100 per barrel for 4 straight sessions

So while there’s temporary relief, uncertainty hasn’t gone away.

Gold & Silver: Volatility Continues

Precious metals showed mild weakness in early trade.

• MCX Gold (April futures) down 0.21% at ₹1,55,662 per 10 grams
• MCX Silver (May futures) down 0.76% at ₹2,51,200 per kg

Prices have been volatile lately, reacting to:

• Geopolitical tensions
• Oil price swings
• Inflation concerns

What This Rally Really Means?

Today’s move looks strong on the surface, but the bigger picture is still evolving.

• Markets are reacting to global cues and oil movement
• The US Fed decision remains the key trigger
• Broader participation suggests improving sentiment, but caution is still visible

There’s momentum—but also hesitation.

Summary: A Strong Day, But Big Event Ahead

• Sensex jumps 633 pts, Nifty at 23,778 ahead of US Fed decision
• Around ₹5 lakh crore wealth created in a single session
• Broader markets outperformed with 1.5–2% gains
• Global markets supported the rally as oil prices eased
• Focus now shifts to US Fed policy outcome tonight

The market has made its move for now.

What comes next will hinge on the US Fed’s announcement later tonight.

Source: Livemint