The Indian equity market continued its winning streak on March 19, with the SENSEX and NIFTY50 indices closing higher for the third consecutive day. The SENSEX gained 147.79 points, or 0.20%, to end at 75,449.05, while the NIFTY50 index rose 73.30 points, or 0.32%, to close at 22,907.60. The broader markets, including the NIFTY Midcap 100 and NIFTY Smallcap 100, outperformed their larger peers, with the former advancing 2.63% and the latter adding 2.43%.
The top gainers on the NIFTY50 included Shriram Finance, HDFC Life, Apollo Hospitals, Tata Steel, and Power Grid, while the top losers were Tech Mahindra, ITC, Tata Consultancy Services, Infosys, and Sun Pharma. The NIFTY Midcap 100 saw many stocks gain, including Mazagon Dock, Cochin Shipyard, JSW Infrastructure, PB Fintech, and Max Healthcare, while the top loser was The Phoenix Mills.
In the NIFTY Smallcap 100, the top gainers were Garden Reach Ship Builders and Engineers, Tanla Platforms, HBL Engineering, RITES, and NMDC Steel, while the top loser was Navin Fluorine International. Defense-related stocks were among the top gainers in the NIFTY Smallcap 100, with the NIFTY India Defence index closing 4.85% higher.
Overall, the market was driven by gains in index heavyweights such as HDFC Bank, Reliance Industries, Larsen & Toubro, and Tata Steel, while the broader markets outperformed their larger peers. The gains were driven by a combination of factors, including a positive global market sentiment and favorable macroeconomic data.