Positive Closure and Loss Recovery:
On March 18, the benchmark indices ended the trading session positively, managing to recover from some of the losses incurred in the previous session. This indicates a certain level of resilience and bullish sentiment prevailing in the market.
Initial Market Trends:
Despite the positive closure, the market started the day with a negative sentiment. This initial negativity was reflected in the trading behavior during the first half of the session.
Market Range and Mid-Session Selling:
Throughout the first half of the trading session, the market remained within a certain range. However, there were instances of selling pressure observed during the mid-session, suggesting some volatility and uncertainty prevailing in the market sentiment.
Recovery in the Second Half:
Despite the mid-session selling pressure, the market managed to recover all the losses incurred earlier in the day during the second half of the trading session. This recovery indicates resilience and buying interest among investors.
Closing Figures:
By the end of the trading day, the Sensex, representing the performance of the Bombay Stock Exchange (BSE), showed an increase of 104.99 points or 0.14 percent, closing at 72,748.42. Similarly, the Nifty, representing the National Stock Exchange (NSE), recorded a gain of 32.40 points or 0.15 percent, concluding at 22,055.70.
Support Zone Holding:
Notably, the Nifty managed to maintain support around the 21900 – 21850 zone. This support was substantiated by the presence of key technical indicators such as the 40-day average and the previous swing low, indicating a certain level of stability in the market.
Bank Nifty Performance:
Conversely, the Bank Nifty, representing the banking sector, closed the trading day with a negative sentiment for the seventh consecutive session. However, despite this prolonged negative trend, it managed to rebound significantly from its intraday lows, which were recorded at 46022.
Performance of Mid and SmallCaps Segments:
In the morning trade, there was an initial fall observed in the market, which particularly affected the mid and small Cap segments. These segments remained rangebound and underperformed compared to the broader market indices throughout the trading session, indicating a mixed performance across different sectors and market capitalizations.
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