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 0.9% higher. Australian benchmark S&P/ASX 200 fell 0.09%. Hang Seng futures soared 2.22%.
US stocks took a hit on Tuesday, with tech companies leading the decline, as investors anxiously await the Federal Reserve's interest rate decision on Wednesday. The S&P 500 dropped 1.1%, while the Nasdaq 100 fell 1.7%, heavily weighed by tech stocks. The Dow Jones Industrial Average also slipped, shedding 0.6%.
Meanwhile, futures indicate higher opening for all three indices ahead of the Fed meeting. Contracts for S&P 500 and Dow Jones Industrial Average were up 0.3%, while Nasdaq was 0.4% higher.
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 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.
Foreign portfolio investors bought stocks worth Rs 694.57 crore on Tuesday after they turned net buyers of Indian equities after 17 straight sessions, as per the revised provisional data from the National Stock Exchange. While domestic institutional investors mopped up stocks worth Rs 2,534.75 crore, as per the revised numbers.
Stocks To Watch
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.
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.
NTPC: The company plans to raise Rs 4,000 crore by issuing non-convertible debentures through private placement, with a tenure of 15 years.
Yes Bank: The bank has received Rs 145 crore demand order from Mumbai tax authority.
ESAF Small Finance Bank: The bank will consider raising funds through NCDs on March 21.
Zydus Lifesciences: The company has received a final approval from the US FDA to manufacture Apalutamide tablets.
Larsen & Toubro: The company will consider raising funds by way of debt issue on March 21.
Nazara Technologies: The company acquired 8.97% stake in Absolute Sports for Rs 69 crore.
Westlife Foodworld: Akshay Jatia has succeeded Amit Jatia as the chief executive officer.
Granules India: The company's arm Granules Europe in Bath, UK has been voluntarily dissolved.
Strides Pharma: The firm voluntarily dissolved step-down subsidiary Generic Partners UK.
Allcargo Logistics: The company's step-down subsidiary Flamingo Line Del Ecuador S.A was voluntarily liquidated with effect from Jan. 27, 2025 and the company received the official communication from the foreign authorities on March 7 2025.
Morepen Labs: The firm entered a business transfer pact with arm Morepen Medtech to hive-off Medical Devices Business on slump sale basis.
TVS Supply Chain Solutions: Andrew Jones resigns as CEO of TVS Supply Chain Solutions, UK effective from May 31.
Juniper Hotels: In share purchase pact with Jenipro to develop five-star hotel/resort on Kaziranga land.
Uflex: The firm's arm Flex Middle East incorporated a step-down subsidiary FLEX FILMS AZB AFEZCO in Azerbaijan.
Listing
Prabha Energy: The shares of Prabha Energy will be listing on Wednesday. The shares will be listed in the "T Group" of securities. The scrip will be in the Trade-for-Trade segment for 10 trading days.
Bulk Deals
Axis Bank: SEI Trust Company as Trustee Obo Allspring Emerging Markets Equity Cit bought 6.28 lakh shares (0.02%) at Rs 1,034.15 apiece, Wells Fargo Emerging Markets Equity Cit sold 6.28 lakh shares (0.02%).
Bajaj Finance: Sei Trust Company as Trustee Obo Allspring Emerging Markets Equity Cit bought 0.44 lakh shares (0.007%) at Rs 8,580.35 apiece, Wells Fargo Emerging Markets Equity Cit sold 0.44 lakh shares (0.007%).
Gensol Engineering: Bridge India Fund bought 2.11 lakh shares (0.55%) at Rs 236.7 apiece. SICPA India sold 4.44 lakh shares (1.17%) at Rs 236.7 apiece, Virtue Financial Services Pvt. sold 7.8 lakh shares (2.05%) at Rs 236.7 apiece.
Insider Trades
Maharashtra Seamless: Promoter Haryana Capfin Ltd. bought 2.6 lakh shares, between March 11 and March 17. Promoter Brahmadev Holding and Trading Ltd. bought 40,000 shares on March 17.
West Coast Paper Mills: Promoter Veer Enterprises bought 5,000 shares on March 17.
Sagar Cements: Promoter Sammidi Sreekanth Reddy bought 6,520 shares on March 13 and 17.
NCL Industries: Promoter Kakatiya Industries Pvt. bought 2,600 shares on March 17.
EFC (I): Promoter Umesh Kumar Sahay bought 6,000 shares on March 11, while promoter Abhishek Narbaria bought 6,895 shares on March 11.
Poonawalla Fincorp: Promoter Rising Sun Holdings bought 2 lakh shares on March 17.
NRB Bearings: Promoter Harshbeena Zaveri bought 5,600 shares on March 18. Promoter Harshbeena Zaveri bought 2,900 shares on March 17.
Paisalo Digital: Promoter Equilibrated Venture Cflow bought 5.53 lakh shares on March 18.
Vascon Engineers: Promoter Siddharth Vasudevan Moorthy bought 1.42 lakh shares on March 13 and March 17.
Trading Tweaks
Ex/ dividend: Power Finance Corp.
List of securities shortlisted in Short-Term ASM Framework Stage - I: Frog Cellsat
List of securities to be excluded from ASM Framework: Kirloskar Electric Co., Senco Gold.
F&O Cues
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.
Securities in ban period: BSE, Hindustan Copper, Manappuram Finance, IndusInd Bank, SAIL.
Currency Update
The Indian rupee ended at over three-week high against the US dollar on Tuesday, strengthening for the third straight session as banks persistently sold the greenback on account of foreign fund inflows.
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