As per provisional closing data, the barometer index, the S&P BSE Sensex, was up 190.75 points or 0.26% to 72,831.94. The Nifty 50 index rose 84.80 points or 0.39% to 22,096.75.

In the broader market, the S&P BSE Mid-Cap index rose 0.38% and the S&P BSE Small-Cap index added 1.06%.

The market breadth was strong. On the BSE, 2,440 shares rose and 1,369 shares fell. A total of 97 shares were unchanged.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slipped 2.33% to 12.22.

The domestic stock market will remain shut on Monday, 25 March 2024 on account of Holi.

Buzzing Index:

The Nifty IT index slipped 2.33% to 35,188.40. The index rose 0.78% in the past trading session.

LTIMindtree (down 3.03%), Infosys (down 2.95%), Coforge (down 2.85%), Wipro (down 2.69%), Persistent Systems (down 2.55%), HCL Technologies (down 2.41%), Tech Mahindra (down 2%), Mphasis (down 1.84%), Tata Consultancy Services (down 1.66%) and L&T Technology Services (down 1.36%) tumbled.

Stocks in Spotlight:

Larsen & Toubro (L&T) added 1.30% after the meeting of the board of directors of the company is scheduled on 27 March 2024 to consider and approve fund raising including by way of debt issue.

Sarda Energy & Minerals zoomed 10.62% after the company’s subsidiary joint venture Natural Resources Energy received the letter of intent (LoI) for composite licence for Surjagad-1 iron ore block in the state of Maharashtra.

Gensol Engineering was locked in upper circuit of 5% after it secured a turnkey EPC order from a leading power generation utility in Maharashtra worth Rs 520 crore.

Neuland Laboratories jumped 5.50% after the firm said that its manufacturing facility located at Hyderabad has successfully completed the United States Food and Drug Administration (USFDA) inspection with zero observations.

Reliance Power was locked in upper circuit of 5% to Rs 26.27 after the company has said that it has fulfilled all of its obligations under the Settlement Agreement with regard to its borrowings from DBS Bank India.

Indian Renewable Energy Development Agency (IREDA) locked in upper circuit of 5% to Rs 138.65 after the firm’s board will meet on Thursday, 28 March 2024 to consider raising Rs 24,200 crore through borrowing program for financial year 2024-2025.

Man Infraconstruction advanced 2.70% after the company said that it has acquired a residential luxury project near Marine Lines in Mumbai.

Mazagon Dock Shipbuilders (MDL) rose 1.03% after the company accepted the Mumbai Port Authority's 29-year lease for the allotment of land and building on a long-term lease basis for Rs 354 crore.

Global Markets:

Most of the European stocks advanced while Asian stocks ended lower on Friday as investors assessed Federal Reserve's policy outcome.

The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday even though inflation continues to drop from multi-decade peaks.

Nikkei 225 crossed 41,000 to hit a fresh all-time high on Friday as Japan inflation accelerated in February. Japan's headline consumer price rose to 2.8% on year in February, from 2.2% in January.

U.S. stocks hit fresh records, continuing its rally after the U.S. Federal Reserve held rates steady and maintained its rate cut forecast for 2024.