KEY HIGHLIGHTS
Rupee Strengthens Sharply Against US Dollar
Rupee strengthened 33 paise to end at 85.64 against US Dollar
Rupee rose for nine sessions in a row, recording best winning streak since Jan 15, 2024
Intraday, rupee strengthened 48 paise to 85.49 a dollar, touching the highest level since Dec 26
It ended at 85.97 a dollar on Friday
Source: Bloomberg
Markets End The Session With Gains
All Sectoral Indices closed in Green
Nifty PSU Bank closed higher for the 5th day in a row.
Nifty Bank closed higher for the 8th day in a row.
Nifty Financial Services, Auto, Pharma, closed higher for the 6th day in a row.
Nifty Oil and Gas, Realty closed higher for the 5th day in a row.
Nifty IT, FMCG closed higher for the 3rd day in a row.
Nifty gains 1.4% for the day, led by Kotak Mahindra Bank, NTPC and SBI
Sensex gains 1.44% for the day.
Nifty Midcap 150 gains 1.1% for the day, led by IREDA, Bharat Dynamics and Nippon Life AMC.
Nifty smallcap 250 gains nearly 1% for the day, JBM Auto, Finole Cables.
Nifty PSU Bank top sectoral for the day, led by Canara Bank, Union Bank of India.
Nifty, Sensex Close With Gains
Nifty: Nifty 50 added 307.95 points to close at 23,658.35, marking a 1.32% increase.
Sensex: BSE Sensex added 1,078.87 points to close at 77,984.38, reflecting a 1.40% gain.
Gustavo Medeiros On Trump's April 2 Tariff
"What we are expecting on April 2 is that there will be some higher tariff element...we should expect even after the end of tariff war, higher level of tariff," says Gustavo Medeiros, Head Of Research at Ashmore Investment
Medeiros stated that he expects to see more volatility in 2025. Despite being structurally very bullish on India, he mentioned that they have reduced their exposure in the country.
Stock Market: Nifty Defence Inches Higher
Nifty Defence was up 3.70% on Monday. This was in sync with benchmark indices registering steady gains for sixth consecutive session. MTAR Tech and Zen Tech were the top gainers in the index as they gained over 7% each.
No Monday Blues For Market: Sensex, Nifty Up 1.5%
Both Sensex and Nifty 50 continued to surge during Monday's trading session as they rose above 1.5%. Nifty 50 was up 334 points to trade at 23,685 points meanwhile Sensex was up 1,113 points to trade at 78,019 points
JTL Industries Share Price Inches Higher
JTL Industries' share price rose by over 3% following the company's announcement that it has deployed 2.5 lakh metric tonnes of advanced direct forming technology to manufacture tubes at its Maharashtra facility.
Source: Exchange filing
Varun Beverages Starts Operation In Kangra
Varun Beverages has commenced commercial production of carbonated soft drinks and packaged drinking water at its Kangra facility.
Source: Exchange filing
Stock Market Live: FIIs Return To India
Foreign money has returned to India by a healthy measure. Last week, FIIs bought over Rs 6,500 crore worth of stocks, after 14 weeks of selling.
Housing.com Parent REA India Appoints New CFO
REA India, which owns proptech platform Housing.com, has appointed Amit Chand as its Chief Financial Officer.
Amit Chand will join REA India's Executive Leadership Team and oversee key functions including finance, risk assurance, legal and compliance, and procurement, a company statement said on Monday.
Diamond Power Share Price Up After Order Win
Diamond Power share price gained 5% after it received a latter of intent for Rs 215-crore order to supply cpnductors from Adani Green Energy.
Source: Exchange filing
Rupee Vs Dollar Live: INR Strengthens Sharply
Rupee strengthened 35 paise to 85.62 against US Dollar, touching the highest level since Jan 1. It ended at 85.97 a dollar on Friday
The local currency rose 3.56% from mid-March and erased yearly losses against US dollar.
Source: Bloomberg
Stock Market: Nifty, Sensex Continue To Rally
Nifty surged by 1.28% to reach 23,650 during noon trade, as India's Nifty 50 Index erased its losses for the year. Meanwhile, the Sensex gained as much as 1.34%, climbing to 77,934.
Buzzing Stocks At Noon
Several stocks including Kotak Mahindra Bank and DLF were making headlines on Monday afternoon, driven by various corporate developments and market reactions, as both Sensex and Nifty 50 were trading in the green.
Read more here
Bajaj Finance Share Price Surges 52 Week High
Bajaj Finance's share price has surged to a 52-week high, reaching Rs 9,111.00. The scrip is currently trading 1.95% up at Rs 9,090 apiece
HUL Board To Meet On April 24
Hindustan Unilever Limited (HUL) has announced that its board will convene on April 24 to review and consider the company's Q4 earnings, according to an exchange filing.
SEBI Board Meet's Three Key Agendas
The SEBI Board meeting will focus on three key agendas aimed at enhancing investor protection, advancing market reforms, and boosting transparency in financial regulations.
Tune in to the video below to know more.
J Kumar Infraprojects' Share Price Surge
J Kumar Infraprojects' share price increased by 4.33% following the company's announcement that it has secured an order worth Rs 1,020 crore for the construction of a coastal road in Maharashtra, as per an exchange filing.
Railtel Corp Share Price Spikes
Railtel Corp of India Ltd.'s share price surged by over 9% after the company secured a work order valued at Rs 25 crore from HPCL.
Kama Holdings Share Price Surges On Dividend
Kama Holdings' share price saw a nearly 2% increase following the company's announcement that its board has declared an interim dividend of Rs 17.75 per share, as per an exchange filing.
Private Sector Ends FY25 Strong, Manufacturing PMI Rises
India's private sector economy ended FY25 robustly, with the manufacturing sector showing a faster increase in sales and output.
The HSBC Flash India Composite Output Index remained stable at 58.6 in March, slightly down from February's 58.8 but still above the long-term average of 54.7.
The HSBC Flash India Manufacturing PMI increased from 56.3 in February to 57.6 in March
Read more on this here
Power Mech Shares Hit One-Month High On BHEL Order
The shares of Power Mech Projects Ltd. rose to one-month high on Monday after the company secured a contract worth Rs 579 crore from Bharat Heavy Electricals Ltd. The order is for civil structural and architectural works for the 2x800 MW DVC Koderma (KTPS) Phase-II in Jharkhand.
Read more about this here
Kotak Mahindra Bank Shares Reach Three-Year High
Share price of Kotak Mahindra bank has surged 4.51% reaching over a three-year high on Monday as the scrip rose to an intraday high of Rs 2,172 apiece.
The scrip's last recorded peak was on Oct 28, 2021 when the stock had surged to Rs 2,190.
DLF Share Price Registers Gains
DLF Ltd.'s share price gained 2.03% on Monday after it received bullish outlook from Motilal Oswal.
Nifty Continues Six Session Gain Streak
Nifty recovers 7.4% from recent lows, set to record 6th day of gains
Nifty cross 23,600 mark to hit highest point in nearly two months
Financials lead recovery in Nifty from lows, add 600 points in March
ICICI Bank, RIL, HDFC Bank top contributors amid Nifty's recovery
Nifty Bank gains for 8th session in a row, longest winning streak since Sep. 24
Nifty Bank records biggest intraday jump in two months, ICICI Bank contributes the most
Motilal Oswal Projects 37% Rally For DLF, Maintains 'Buy' Rating
DLF's luxury residential projects have seen exceptional launch responses, solidifying its monopoly in Gurugram's uber-luxury market. With pre-sales projected to grow at a 20% CAGR from FY24-27, strong collections, a vast land bank, a cash-positive balance sheet, increasing rental income, and decreasing debt, Motilal Oswal's confidence in DLF remains robust.
Read more on this here
Tesla Takedown: Boycotts, Trade-Ins, and Plummeting Stock
A civil society pushback against Elon Musk has escalated into widespread protests, including boycotts, trade-ins, and even burning Tesla cars. Dubbed the "Tesla takedown," this decentralised movement by U.S.-based activists and non-profits aims to hurt Tesla's business in response to Musk's support for extreme austerity measures and right-wing politics.
Read more on this here
TVS Holding Declares Dividend
TVS Holdings' share price rose by 3.60% after the company's board declared an interim dividend of Rs 93 per share.
Mazagon Dock Shipbuilders Inches Higher
Shares of Mazagon Dock Shipbuilders surged 4.64% on Monday as the scrip traded at Rs 2,711.65. The scrip rose as much 186.75% in past 12 months.
Sundaram-Clayton Share Price Surges
Sundaram-Clayton Ltd.'s share price rises over 2% as the board has declared an interim dividend of Rs 4.75 per share for the financial year 2024-25.
Why SAIL Tops The List For 'Sell' Ratings
Out of the four major steel companies in India, Steel Authority Of India Ltd. has the highest number of analysts who are bearish on the counter.
Of the 29 analysts tracking SAIL on Bloomberg, 48% have a 'sell' rating, while only 17% to 28% of the total analysts tracking companies like Tata Steel Ltd., JSW Steel Ltd., and Jindal Steel & Power Ltd have a bearish stance on the counters.
Find out more on this by clicking here
Investor's Guide To Defence Stocks After Recent Run-Up
Defence stocks have experienced a significant run-up and are now trading at a premium. Despite stretched order timelines, there may still be opportunities for investors to engage in this sector.
Defence stocks corrected 27% from mid-December to February-end due to fears of slowing order flows and future earnings growth.
The Nifty India Defence Index then climbed 20% in March. At its peak in December, the index had a forward P/E ratio of 64 times, which fell to 32 times by February-end.
Find out more on this by clicking here.
Bulk Of Correction Is Done For Markets Says Raamdeo Agarwal
Fundamentally this time the market does not have a problem of earning crisis, earnings remain stable...they grew a little slow, says Raamdeo Agarwal, Chairman and Co-founder, MOFSL
He added that the earnings were expected to report 12-15% growth but the growth turned out to be 5-6% but "per say the earnings remain solid"
He also said the, "Bulk of correction is done...big ticket events will keep coming but on the whole Indian markets have shown resilience."
Nifty, Sensex Push Higher Than Opening Gains
Both Sensex and Nifty 50 are trading at day's high as the benchmark indices have pushed passed their opening gains. The Nifty 50 index is trading 0.93% higher at 23,567.60 and Sensex is trading 0.94% higher at 77,626.44
Markets Seem Oversold, Right Time To Add: Ajay Srivastava
"India is a naturally equity excretive market, but what spoils the part is the FIIs coming and selling", says Ajay Srivastava MD at Dimensions Consulting.
Srivastava added that he expect FII inflows to pick-up over the next few months and that the only change that has taken place over the last weeks is that, "Market is oversold and it is right to pluck in"
He also said, "Don't think the next bull run has started, should wait for March 31 results"
Nifty Defence Posts Gains, Zen Tech Leads
Shares in Nifty Defence posted gains as the market also opened in the green on Monday. Zen Technologies gained as much 9.60%, followed by MTAR Technologies which gained 9.38%.
Nifty Bank At Nearly Three-Month High
As the benchmark indices opened with gains on Monday the Nifty Bank jumped to nearly three-month high surging 1.05% to trade at 51,122.60 points.
Nifty Top Contributors: L&T, Reliance, HDFC Bank
Nifty 50 index opened at 23,518 points on Monday. The top contributor in the surge was Larsen and Turbo with 23.59 points followed by Reliance with 21.39 points and HDFC Bank contributed 11.32 points.
Sectoral Indices Open Higher: Nifty Energy Gains Most
On Monday both Sensex and Nifty 50 opened higher and all 12 sectors of Nifty were also in green. The top gainer at market open was Nifty Energy, followed by Nifty Realty and Nifty Oil and Gas.
Stock Market Live: Sensex, Nifty 50 Open Higher
On Monday both Sensex and Nifty 50 opened with gains as they were trading above 0.70%. Nifty 50 opened 0.72% up at 23,518 and Sensex opened at 0.77% higher to trade at 77,498
Indices In Green At Market Pre-Open
At the start of the week's trading session, benchmark indices Nifty 50 and Sensex opened with gains at market pre open.
Nifty 50 was up 0.71% at 23,515 points meanwhile Sensex was up 0.72% at 77,456 points.
Rupee Strengthens Against US Dollar
The rupee strengthened by 3 paise, opening at 85.94 against the US dollar. On Friday, it ended at 85.97 per dollar.
The yield on the 10-year bond opened flat at 6.64%, after closing at 6.65% on Friday.
Dam Capital Advisors, Samhi Hotels Shares To Exit Lock-In On Monday
Shares worth over Rs 2,978 crore, including those of Dam Capital Advisors Ltd. and Samhi Hotels Ltd., are set to exit their lock-in periods on Monday.
For Dam Capital Advisors, 6% of its equity will become eligible for trade as it exits the second lock-in expiry period for anchor investors, which is set at 90 days post-allocation.
Oil Price Drop As OPEC+ To Restart Idle Production
Brent Crude's May future contract declined in Monday's session to trade at $71.94, down 0.30%.
The volatility comes in the wake of second round of tariffs set to be imposed by US President Trump starting April 2.
This move will align with increased supply from the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, who plan to restart idled production next month.
The group aims to boost output by 138,000 barrels a day, initiating a series of monthly increases, as per Bloomberg.
Gold Prices Drop To Rs 88,000 Per 10 Grams
On March 24, gold prices in India were lower at Rs 88,210 per 10 grams, according to the India Bullion Association.
In New Delhi, the rate was Rs 87,890 per 10 grams, while in Mumbai, it was Rs 88,050.
Kolkata saw a lower rate at Rs 87,930, and Bengaluru's rate was Rs 88,120. Chennai continued to have one of the highest rates in the country at Rs 88,300 per 10 grams.
Asia Market Update: Indices Trading In Mixed Range
The week's start saw Asian markets mixed as the countries brace for updates on U.S. President Donald Trump's plans for global reciprocal tariffs starting April 2.
Japan's Nikkei's was trading flat at 37,664 points as it was down 13.92 points. Meanwhile, Hong Kong's Hang Seng index was also flat as it was trading at b23,682 points on Monday.
China's CSI 300 was up 0.47% at 3,933 points and Australia's S&P 200 was down 0.05% at 7,927. South Korea's Kospi was flat as it traded at 2,643 points.
US Market Update: Tech Rally Spurs Late-Day Rebound
US markets saw a late-day rebound driven by a rally in tech giants, despite earlier selloffs due to disappointing outlooks from key industry players.
The S&P 500 erased a significant slide just five minutes before closing, ending 0.08% higher at 5,667.56.
The Dow Jones Industrial Average also closed 0.08% higher at 41,985, while the Nasdaq Composite rose 0.52% to 17,784.05.
Tesla led gains among megacaps, though Nvidia fell. Boeing surged on a new fighter jet contract, while forecasts from FedEx, Nike, and Lennar disappointed traders. A massive options expiration added to the day's volatility, with over 21 billion shares traded.
Gift Nifty Near 23,500: IndusInd Bank, L&T, Godrej Properties May React
On the first trading session of the week the Gift Nifty was trading near the 23,500 mark as it rose 0.10%.
Among stocks that are expected to react are IndusInd Bank Ltd., as the lender is on the lookout for a new CEO. Shares of Larsen & Toubro Ltd. are also expected to react, as the company approved a long-term borrowing of up to Rs 12,000 crore.
Godrej Properties Ltd. shares could also see movement as the company acquired 10 acres of land in Yelahanka, Bengaluru, with the revenue potential of Rs 2,500 crore.
JSW Energy Ltd. stock may also react due to management change, as the company's director Ashok Ramachandran is set to resign due to personal reasons.
The domestic stock markets rose on Friday, marking their strongest weekly gains in years. Investors disregarded global market concerns, capitalising on discounted stocks, following a recent correction. The NSE Nifty 50 closed at 23,350.40, up 0.69% or 159.75 points, while the BSE Sensex rose 0.73% or 557.45 points to 76,905.51. Both indices reached intraday highs of 23,402.70 and 77,041.94, respectively.
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