Stock market updates on March 27, 2024: Benchmark indices are likely to gyrate in a narrow trading band on Wednesday as global cues remain tepid in this holiday-shortened week.
At 07:30 am, Gift Nifty futures quoted at 22,048, hinting at a flat to marginally negative start to the trading action today on the NSE benchmark Nifty 50.
Among individual stocks, Cipla will be in focus after the pharma firm entered into an exclusive partnership with Sanofi India to boost access to Sanofi’s Central Nervous System (CNS) medications across India.
That apart, SpiceJet too may see some action after the low-budget carrier inked an agreement with aircraft lessor Export Development Canada (EDC) to settle liabilities worth Rs 755 crore.
Global cues
In Asia this morning, Nikkei gained 0.8 per cent. Straits Times and Taiwan added 0.4 per cent and 0.1 per cent. On the other hand, Hang Seng slipped 1 per cent, and Shanghai Composite was down 0.5 per cnet.
Overnight in the US, benchmark indices ended in red for the third straight day as investors awaited economic data to gauge Fed’s policy path. The focus remains on Personal Consumption Expenditure Price Index (PCE) due on Friday. Dow slipped 0.1 per cent in late deals. The S&P 500 and Nasdaq ended 0.3 per cent and 0.4 per cent lower.
