The Indian stock market closed on a positive note on March 27, with benchmark indices rallying as financial stocks took the lead. The BSE Sensex gained 317.93 points, or 0.41%, to settle at 77,606.43, while the NSE Nifty 50 climbed 105.10 points, or 0.45%, to close at 23,591.95. The Bank Nifty also saw an uptick, ending 0.72% higher at 51,575.85. Meanwhile, the Nifty Midcap 100 index surged 0.37% to close at 51,839.40.
Financial stocks
Renewed foreign inflows and optimism in the financial sector gave markets the much-needed momentum. Heavyweights like Bajaj Finserv, IndusInd Bank, and Hero MotoCorp emerged as the top gainers, driving the indices higher.
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While most sectors enjoyed gains, the auto and pharma indices lagged behind. Auto stocks took a hit after the US government announced a 25% tariff on imported vehicles starting April 2. Tata Motors, which has a significant presence in the US market through Jaguar Land Rover, saw selling pressure, leading to a sharp decline in its stock price. Auto component makers like Samvardhana Motherson and Sona BLW also struggled, slipping in intraday trading. Bharat Forge followed suit, closing lower for the day.
Sector watch: Who gained, Who lost?
Apart from auto and pharma, all other sectoral indices ended in the green. IT, banking, and infrastructure stocks saw strong buying interest. On the other hand, pharma stocks saw mild selling pressure, with Sun Pharma and a few others declining amid profit-booking.
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