Market Commentary
Global markets – US indices fell sharply on Friday led by slump in consumer sentiments and uptick in inflation expectations. Dow tumbled by 1.7 pct while Nasdaq slipped by 2.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 43,428 | -1.7 | 2.1 |
| Nasdaq | 19,524 | -2.2 | 1.1 |
| Hang Seng | 23,493 | 0.1 | 17.1 |
| Nikkei | 38,776 | 0.3 | -2.8 |
Commodities – Gold prices increased and stood at USD 2,941 over safe haven commodity demand. On the other hand, oil prices stood at USD 74.42/bbl amid expectations of resumed exports from Kurdistan’s oilfield.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,941 | 0.2 |
| Silver ($) | 32.70 | 0.9 |
| Brent Crude ($) | 74.42 | 0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,438 | 49,895 |
| 100 DMA | 23,925 | 50,855 |
| 200 DMA | 24,067 | 50,933 |
Asian markets – Asian markets trading lower in early morning trade. Hang Seng increased by 0.1 pct. While Nikkei closed higher by 0.3 pct.
Indian Indices – India’s equity benchmarks are likely to open gap down as Gift Nifty indicates. Benchmark indices extended loses on Friday as financial and automobile stocks weighed on sentiment.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,311 | -0.6 | -3.6 |
| Nifty | 22,795 | -0.5 | -3.6 |
| Nifty Bank | 48,981 | -0.7 | -3.7 |
| Nifty Midcap 100 | 50,486 | -1.3 | -11.7 |
| Nifty Smallcap 100 | 15,636 | -0.7 | -16.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3449 | -124,351 |
| DII | 2884 | 129,193 |
Stocks to watch
Positive Read through
- NTPC – Collaborating with EDF on pumped storage, hydro projects & RE opportunities.
- BSE, CDSL – Stocks added to FTSE India, adjustments set for March 21, 2025.
- Bajaj Auto – Investing EURO 150 mn in its Netherlands arm.
- Granules – Forays into CDMO segment, acquires Senn Chemicals AG for Rs. 1.92 bn.
- Federal Bank – Sees NIM at 3.52 pct, ROA expansion planned over the next three years.
- Bajaj HSG, IndusInd – Stocks added to FTSE India, adjustments on March 21, 2025.
- Ujjivan SFB – Sells NPA & written-off loans worth Rs. 3.64 bn to an ARC.
- Coal India – Non-binding agreement with EDF to form JV for PSP projects.
- Lupin – US FDA clears Somerset manufacturing facility, issues EIR.
- Zomato, Jio Fin – To be included in Nifty 50 from March 28.
- Vedanta – Declared preferred bidder for Madhya Pradesh’s Kaurahi Diamond Block.
- RVNL – Emerged lowest bidder for a South Western Railway project worth Rs 1.56 bn.
- PI Ind: In strategic partnership with C-CAMP to drive innovation in biocontrol technologies.
- Zaggle – Entered into a customer service agreement with Indus Tower.
Negative Read through
- Paisalo – Withdraws proposed preferential issue of 3.37 Cr convertible equity warrants.
- Britannia/BPCL – To be excluded from Nifty 50 from March 28.
- Niva Bupa – Anonymous sender claims to have customer data of the company.
- Healthcare Global – KKR acquires controlling stake (54 pct) for USD 400 mn at Rs. 445/sh.
- Allcargo Logistics – January LCL volume up 4 pct YoY, FCL down 9 pct MoM.
- Syngene – Received 5 form 483 observations from USFDA for Bengaluru facility.
- Fusion – ICRA has downgraded the credit rating of Fusion Finance Ltd’s instruments.
- Medplus Health – Subsidiary, Optival Health Solutions, received 4 drug license suspension orders.
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