KEY HIGHLIGHTS
US Futures Up Ahead Of Fed Meeting
S&P 500: Up 0.26%
Dow Jones Industrial Average: Up 0.15%
Nasdaq: Up 0.35%
Rupee Vs Dollar Live: INR Strengthens
Rupee strengthened 13 paise to end at 86.44 against US Dollar. It ended at 86.57 a dollar on Tuesday
Source: Bloomberg
Nifty Ends 0.34% Higher, Sensex Adds 145 Points
The NSE Nifty 50 ended 73 points or 0.34% higher at 22,907.6 while the BSE Sensex closed 147 points or 0.2% up at 75,449.
Intraday, the Nifty surged 0.47% to near 22,950-level, near the profit booking zone seen by analysts, while the Sensex gained 0.35%.
Key highlights:
Nifty closes in on 23,000 mark
Broader markets see sharp outperformance
IT stocks, a key drag on the Nifty
Except FMCG, IT all sectoral indices trade in the green
Realty, PSU Bank outperform
Shriram Finance the top gainer
4 IT heavyweights are top losers
Breadth of the market favourable for a second straight day
Defence, infra and Market intermediaries zoomed - HAL, GRSE, GR Infra, CAMS, BSE, etc.
Garden Reach Share Price In Upper Band
Garden Reach Shipbuilders stock is hit the 20% upper price band on the NSE.
Indian Overseas Bank Fundraise Plan
Indian Overseas Bank's board approved issue of long-term infra bonds worth Rs 10,000 crore in FY25.
Source: Exchange Filing
Share Market Live: Chinese Stock Correction ‘Soon'
China’s stock rally may face a “meaningful correction soon” given its similarities with the 2015 boom and bust cycle, according to strategists at BofA securities.
The Hang Seng China Enterprises Index and the MSCI China Index have both surged at least 30% from mid-January lows, akin to the pace of gains seen in 2015 before the market plummeted, strategists led by Winnie Wu wrote in a Monday note. Having peaked in May 2015, the HSCEI gauge tumbled nearly 50% through February the following year and is yet to scale that high.
Read report here.
Gold Price May Rise To $3,090, Says Analysts
Gold prices will remain in focus for the remainder of this week, as the safe-haven asset is highly reactive to the interest rate decision taken by the US Federal Reserve.
While the American monetary policy authority is widely expected to hold the rates steady in the range of 4.25-4.5%, its guidance on future rate cuts will be the key driver of gold prices in the near term. The rate decision will be announced at 2:30 pm EST (11:30 pm IST) on Wednesday, which will be followed by Fed Chair Jerome Powell's guidance.
A "hawkish-than-expected commentary" from Powell could shake market expectations and lead to a "brief pullback in gold prices" in the near term, noted Kaynat Chainwala, assistant vice president for commodity research at Kotak Securities Ltd.
Read gold outlook report here.
Tata Communication Gets 'Buy' As JM Financial Initiates Coverage, Sees Over 35% Upside
JM Financial Institutional Securities initiated coverage on Tata Communication Ltd. with a 'buy' rating and a target price of Rs 2,030 apiece, implying a 35% upside. Tata Communications is strategically transforming into a communication technology business by developing its digital portfolio, integrating connectivity with digital services, the brokerage said.
Read the full article here.
NBCC Share Price Up; Big Sale In Uttar Pradesh
NBCC sold 1,046 residential units worth Rs 2,353 crore in Uttar Pradesh via e-auction,
Source: Exchange filing
TCS Signs New AI Deal; Stock Down
Tata Consultancy Services signed a five-year deal with Air New Zeland to drive AI-led transformation to enhance the airline's digital capabilities and improve customer experience.
Source: Exchange Filing
India-Oman FTA To Be Finalised
The India-Oman free trade deal will be finalised by 2025-end, government sources said. Negotiations are complete and text and drafting nitty gritties remain.
Moreover, the government is looking at expanding India-MERCOSUR preferential trade agreement. This will take coverage in pact from current 450 tariff lines to at least 80-90% of all tariff lines.
Alert: MERCOSUR is a trade bloc of founding members Argentina, Brazil, Paraguay, and Uruguay
Defence Stocks Rup Up: Garden Reach, Mazagon Dock Top Gainers
Shares of defence companies including Garden Reach Shipbuilders and Mazagon Dock rallied on Wednesday.
Tata Motors Fundraise Plan
Tata Motors board approved the issuance of NCDs aggregating up to Rs 2,000 crore.
Source: Exchange filing
REC Share Price Up: Fourth Dividend
REC board declared fourth interim dividend of Rs 3.6 per share for FY25.
Asian Stock Markets Live: Pre-Fed Decline
Stocks in Asia snapped a three-day gain as traders await more clarity around the economic outlook from the Federal Reserve policy decision later Wednesday. Gold rose to a new record.
Shares in Japan and South Korea rose, while Chinese stocks traded lower. A regional gauge that had risen as much as 0.4% earlier fell into declines. S&P 500 and European-stock futures inched higher after benchmarks slid on Tuesday.
Read global stock market wrap here.
Fed News Live: Jerome Powell’s Remarks To Be Scrutinized
Federal Reserve officials will likely hold interest rates steady when they meet Wednesday, buying time to assess how President Donald Trump’s policies impact an economy facing both lingering inflationary pressures and mounting growth concerns.
Fresh tariffs from the Trump administration, paired with retaliatory action from US trade partners, have dented consumer sentiment and fanned Americans’ expectations for future inflation. And with some levies getting postponed shortly after being announced, it’s unclear how the trade war will ultimately shape the economy.
The uncertainty will likely keep policymakers in a wait-and-see mode, reluctant to wed themselves to a particular path of policy.
Transrail Lighting Stock Up After Order Win
Transrail Lighting received orders worth Rs 1,647 crore in transmission and distribution segment and railway segments.
Source: Exchange Filing
IPO News Live: Kolkata-Based Mihup Eyes Listing
Kolkata-based conversational intelligence firm Mihup on Wednesday said it is in advanced talks with one of India’s top passenger automobile makers to integrate its in-car virtual assistant, following its partnership with Tata Motors Ltd.
The company, which has raised Rs 100 crore in venture funding, including Rs 50 crore in October last year, is also preparing for an initial public offering within the next two years, Mihup Co-founder and CEO Tapan Barman told PTI.
Share Market Live: Midday Update
Nifty 50 up 0.3%; intraday high 0.35%
Sensex up 0.2%; intraday high 0.74%
Nifty Bank up 0.79%; intraday high 0.89%
Nifty IT down 1.9%; intraday low 2.2%
Nifty Midcap 150 up 1.7%
Nifty Smallcap 250 up 1.5%
Nifty PSU Bank, Nifty Energy top sectoral gainers
Top Nifty Gainers: Shriram Finance, Apollo Hospitals, Tata Steel
Top Nifty Losers: TCS, Tech Mahindra, Infosys
Strides Pharma Stock In Focus
The company will demerge some operations of arm Arco Lab into a new company. It will also demerge life sciences and digital innovation capabilities of the unit.
Source: Exchange Filing
Income Tax Return Filing In Focus
The end of March brings in focus the tax-filing season. Whether you are a salaried employee, self-employed or a business owner, understanding the process of filing an ITR can help you avoid errors and penalties.
Here’s a guide to help beginners file their ITR with ease.
Vodafone Idea Share Price Up
Vodafone Idea’s shares climbed over 5% after the wireless carrier announces the launch of 5G services in Mumbai. The introductory offer includes unlimited plans starting at Rs 299.
Nifty Today Live: Index Past 22,900
The Nifty 50 rose 0.34% to 22,911.85. Nifty reclaimed 22,900 level for the first time since Feb. 21.
Analysts expect profit booking at 22,950 level.
Adani Stocks Live: NDTV, Adani Total Gas Lead Gains
RBI Governor Meeting Urban Cooperative Bank Chiefs Today
RBI Governor meeting MD and CEOs of Urban Cooperative Banks today.
Meeting in light of events at New India Cooperative Bank .
RBI Governor to also address other issues in urban cooperative bank sector.
Alert: RBI placed restrictions on deposit withdrawal at New India Cooperative after financial troubles at the bank.
Sources to NDTV Profit
MobiKwik Systems Share Price Up 14%
Shares of One Mobikwik Systems rose over 15% on Wednesday, marking the second day of gains for the newly-listed fintech firm as the company's three-month share lock-up expired on Monday.
This means that after dropping 14.6% on Monday, the stock has gained over 35% in the following two days to hit a one-month high of Rs 344.70 per share. Shares of Mobikwik had hit a 20% upper circuit on Tuesday.
IT Stocks Down: Citi Cautious Amid Global Macro Uncertainty
Citi Research is cautious on India's IT stocks despite sharp correction as it believes global macro uncertainty is looming over their multiples. Multiple helps to determine a company's valuation, and other factors of financial performance. The brokerage has lowered revenue estimates for most companies in the space.
The expectation of the US growth in Donald Trump's second term as president in the October–December quarter did not materialise. After Trump took office, rather more uncertainty is rising over US economic growth with his protectionist policies.
The Nifty IT down over 1.7%. Large cap players like TCS, LTIMindtree and Infosys werre among the top losers.
Read the IT outlook report here.
Tata Steel Share Price Up: Large Trade Alert
Tata Steel had two large trades in block of one crore shares and 11 lakh shares. The stock was up 2.4%.
Insolation Energy Stock Up After Order Win
Insolation Energy received a purchase order worth Rs 733 crore for supply of Solar PV module from KPI Green Energy.
Source: Exchange filing
KPI Green Share Price Up
KPI Green Energy received Rs 272 crore credit from NaBFID to part-finance Gujarat Power Project.
Source: Exchange filing
Share Market Live: Nifty, Sensex In Red
The Nifty and Sensex gave up early gains to trade in red. Both indices are down 0.08%.
IndiGo Share Price Live: Airline To Double Passenger Number To 51 Crore
IndiGo has announced ambitious growth plans, projecting a doubling of passenger numbers in India by 2030, from 25.2 crore to 51 crore. The airline aims to increase its international capacity share to 40% by FY30, up from 28% currently.
To support this expansion, IndiGo has a significant aircraft order backlog of 925 planes, with plans to reach a fleet size of over 600 aircraft by 2030. The airline expects to take delivery of A321 XLR aircraft in FY26, which will be deployed on routes across Asia and Europe.
Additionally, IndiGo aims to boost ancillary revenue and grow its loyalty program, which has already seen 20 lakh enrollments in just five months.
In FY26, the airline plans to add 14 new destinations, maintain a weekly aircraft delivery schedule, and achieve early double-digit growth in capacity and passenger traffic, similar to FY25.
Source: Investor Presentation
Share Market Live: GR Infraprojects Share Price Up
GR Infraprojects stock rose 9.8% after Rs 4,263-crore order from NHAI.
Share Marlet Live: Steel Stocks Jump
Steel stocks advance after government proposes 12% safeguard duty on certain steel products. While NMDC Steel surged over 4%, Kalyani Steel gained more than 3%. Tata Steel and JSW Steel were up over 2%.
Stock Market Live: Nifty, Sensex Open Higher
The Nifty 50 opened 0.18% higher at 22,875 while Sensex added 0.23% to 75,473.
The Nifty Bank gained 0.12%.
Bond Market Live: Yield Flat
The yield on the benchmark 10-year government bond opened flat at 6.66%. It closed at 6.67% on Tuesday.
Source: Bloomberg
Rupee Vs Dollar Live: INR Weakens
The Indian rupee opened weaker against the US dollar on Wednesday. The local currency was down seven paise at 86.64.
The unit has been strengthening for three previous sessions.
Source: Bloomberg
Share Market Live: Major Stocks In News
LIC: The company addressed reports regarding its potential entry into the health insurance sector, stating that it is in advanced discussions to acquire a significant stake in a standalone health insurance provider.
Bajaj Auto: The company has approved the re-appointment of Rajivnayan Rahulkumar Bajaj as the managing director and chief executive officer for another five years from April 1.
G R Infraprojects: The company has received a letter of acceptance for Rs 4,263 crore order from NHAI. The project comprised construction of the Agra–Gwalior greenfield road through design, build, finance, operate and transfer mode. The contract is expected to be completed within 910 days from the appointed date.
Rupee Vs Dollar Live: Check INR Trading Level
The Indian rupee strengthened 23 paise to end at 86.57 against the US dollar on Tuesday, tracking broad weakness in the greenback and positive risk sentiment.
The local currency is likely to open around 86.62 and trade a 86.45-86.70 range with appreciation bias, according to IFA Global analysts.
The one-year forward yield is at 2.12% and three-month ATMF implied volatility is at 3.56%, they noted.
GIFT Nifty Live: Gains Narrow
The GIFT Nifty's early morning surge has narrowed. The futures contract based on the Nifty 50 was up 7.5 points or 0.03% at 22,937.5 as of 8:25 a.m.
Nifty Today Live: Check Key Support, Resistance Levels
The Nifty 50's key support zones stand at 22,700–22,600 after the stock markets ended in the green for the second session on Tuesday, while 22,950 and 23,000 could be profit-booking areas, according to analysts.
The index formed a strong bull candle with a higher high and higher low and a bullish gap below its base of 22,577-22,600, signaling a positive follow through to the previous session, according to Bajaj Broking Research.
Immediate support is placed at 22,500-22,600 levels, and holding above the same will keep the bias positive, they added.
Read Wednesday's trade setup here.
Nifty Today Live: What F&O Cues Indicate
The Nifty March futures were up 1.41% to 22,895.40 at a premium of 61.1 points, with the open interest down 2.57%.
The open interest distribution for the Nifty 50 March 20 expiry series indicated most activity at 23,000 call strikes, and the 22,500 put strikes had the maximum open interest.
Bank Of Japan Keeps Interest Rate Steady
The Bank of Japan has kept its benchmark interest rate steady at 0.5%. The decision was unanimous.
The yen took a hit after the decision, sliding 0.25% to 149.64 against the dollar, before recovering.
Japanese equities rallied. Nikkei 225 was up 0.67%, while the broader Topix index gained 1%.
The Bank of Japan expects the price trend to align with its goals in the second half of the year. However, it notes that forex developments are likely to have a greater impact on prices than in the past. Despite moderate rises in inflation expectations, uncertainties surrounding economic activity and prices remain high.
The bank has added trade policies of overseas countries to its list of risks. While the output gap is expected to improve, it is essential to monitor financial and forex markets closely. A virtuous cycle of wages and prices is intensifying, and a cycle of income to spending is also gradually gaining momentum, with rice prices likely to remain high through FY25.
Asian Stocks Live: Nikkei, Hang Seng Up
Asian stocks showed resilience early Tuesday, bucking the trend of declines on Wall Street. Shares in Japan and South Korea rose, while Australian equities slipped.
The Nikkei 225 was up 0.6% and the Kospi was higher by 0.9%. Australian benchmark S&P/ASX 200 fell 0.09%. Hang Seng futures soared 2.22%.
GIFT Nifty Live: Index Near 23,000
The GIFT Nifty was trading near 23,000. The futures contract based on the Nifty 50 was up 26 points or 0.11% at 22,956.5 as of 7:30 a.m., indicating a higher opening for the benchmark.
India's benchmark equity indices had their best day in 28 sessions on Tuesday, closing higher for the second consecutive day as easing fears over a US recession and an improved outlook for China lifted global stocks.
The NSE Nifty 50 ended 325.55 points, or 1.45% higher at 22,834.30, while the BSE Sensex closed 1,131.31 points, or 1.53% up at 75,301.26.
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