Market ends in green ahead of Holi
On the day of Holika Dahan, the market was in favor of the bulls. The Sensex of the Bombay Stock Exchange (BSE) opened with a jump of more than 800 points, while the Nifty of the National Stock Exchange (NSE) also started trading by reaching the level of 17200. At the end of trading, the Sensex closed at 57,863.93 with a gain of 1,047.28 points, or 1.84 per cent. On the other hand, Nifty closed at 17,287.00 with a gain of 311.70 points or 1.84 per cent.
Earlier on Wednesday, the Sensex closed at 56816.65 with a gain of 1039.80 points. At the same time, Nifty closed at the level of 16975.35, up by 16975.35 points with a gain of 312.35 points.
Stock market will be closed on Holi
There will be a holiday in the stock market on Friday due to Holi. According to the BSE and NSE websites, both the Sensex and Nifty indices of the stock market will remain closed. There will be no trading in Sensex and Nifty due to weekly holiday on 19th and 20th March.
Moody’s downgrades India’s growth forecast for 2022
Rating agency Moody’s has reduced its India’s growth forecast for the calendar year 2022 by 40 basis points to 9.1 percent. The rating agency says that the Russia-Ukraine crisis will have a negative impact on the global economy and will also affect India’s growth rate.
Another blow to Paytm, Macquarie reduced the target price to Rs 450
Digital payment and financial services company Paytm has suffered another major setback. Analysts of brokerage house Macquarie have made a big cut in the target price for the stock. Macquarie has given Underperform rating on Paytm and has fixed the share target of Rs 450 per share from Rs 700 per share.
