The Sensex and Nifty 50 extended early gains around noon on March 27 and, from here on, the indices are expected to trade within a range amid mixed cues from global markets.

"Given a truncated trading week, coupled with monthly derivatives expiry and upcoming global economic data, investors are advised to adopt a cautious, wait-and-watch stance," said Shrey Jain, founder and chief executive of SAS Online. The Indian market will be closed on March 29 for Good Friday.

The broader market gained with the BSE MidCap rising 0.4 percent and BSE SmallCap gaining 0.8 percent.

Around noon, the Sensex was up 469.59 points or 0.65 percent at 72,939.89, and the Nifty 50 was up 141.10 points or 0.64 percent at 22,145.80. About 1,794 shares advanced, 1,462 shares declined, and 95 shares remained unchanged.

Investors will watch out for the US initial jobless claims data and consumer sentiment data due to be released later on March 28.

Sectoral Trend

Barring Nifty FMCG, Nifty Healthcare, and Nifty Media, all sectoral indices were in the green. Nifty Infrastructure, Nifty Energy, and Nifty Realty saw the maximum gains as they rose over 1 percent each.

"Nifty Bank is expected to experience volatility with a key range expected between 46,000 and 47,000 levels due to the weekly expiry due today," Jain said.

Fundamental View

"Investor attention now turns to key economic data and the upcoming earnings season," said Prashanth Tapse, senior vice president of research at Mehta Equities. Tapse said that despite challenges, potential support for the Nifty bulls lies in foreign institutional buying and global market momentum. "Volatility is expected to rise ahead of the F&O expiry."

Technical View

"Traders should also monitor global cues, as they could serve as catalysts for the next market movement. While opportunities in the mid-cap space appear promising, traders should exercise selectivity and refrain from aggressive overnight positions ahead of one more long weekend," said Sameet Chavan, chief analyst for technicals and derivatives at Angel One.

Chavan sees the immediate support levels for Nifty 50 at 21,900-21,850 and 21,700 as a key support level. "On the upside, resistance is anticipated around 22,200-22,250."

Key Nifty gainers

Maruti Suzuki, Bajaj Auto, RIL, Adani Ports

Key Nifty losers

Britannia Industries, Apollo Hospital, Hero MotoCorp, Wipro

Key Sensex gainers

Maruti Suzuki, RIL, L&T, UltraTech

Key Sensex losers

Nestle India, Wipro

Stock moves

AstraZeneca Pharma India: Shares jumped over 4 percent a day after the company informed that it has received permission to import, for sale and distribution, Trastuzumab deruxtecan lyophilized powder concentrate for solution for infusion 100mg (Enhertu) from the Central Drugs Standard Control Organisation.

Wockhardt: Shares were locked in the 5 percent upper circuit after funds owned or managed by ace investors Madhusudan Kela and Prashant Jain invested in the company's Rs 480-crore Qualified Institutional Placement (QIP).