Stock Market News Today Live Updates: Nifty Near 23,200, Sensex Gains Nearly 100 Points; IDBI Bank Shares Slump Over 15%

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• ITI rose as much as 12% to Rs 273.90, with trading volume at more than 40 times its 20-day average.
• Tejas Networks gained as much as 9.1% to Rs 463, while Aeroflex Industries rose up to 5.9% to Rs 247.90. Trading volume was 83% above the 20-day average for Tejas Networks and nearly three times the 20-day average for Aeroflex Industries.
• Rashtriya Chemicals & Fertilizers fell as much as 5.6% to Rs 114.65, with trading volume 79% above its 20-day average.

Source: Bloomberg

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Indian equity benchmarks opened marginally higher on Monday. The BSE Sensex traded at 74,622, while the NSE Nifty 50 was at 23,175, with both indices little changed in early trade.

• Nomura’s Saion Mukherjee said the current situation has raised macro concerns and that further correction in the market remains possible.
• The brokerage cut its Nifty 50 target to 24,900 from 29,300.
• Nomura said utilities, coal, oil producers, healthcare, pharma, staples and telecom may outperform.

• Nuvama said paint companies have started raising prices after an increase in crude-linked raw material costs.
• Kansai Nerolac announced a price hike of about 2% to 2.5%, while Berger Paints raised prices by 4% to 5% in parts of its solvent-based portfolio.
• Nuvama said paint stocks are in the oversold zone. It also said companies may take another round of price hikes in Q1FY27 if crude stays at $100, while margins may face pressure in the quarter.

• Nifty traded below 23,150 in pre-market trade, while the Sensex fell more than 500 points.
• The early moves indicated weaker opening levels for the benchmark indices.

The rupee opened at 92.43 against the US dollar, compared with Friday’s close of 92.46. The domestic currency started the session marginally higher.

• Central Mine Planning & Design Institute has fixed the IPO price band at Rs 163 to Rs 172 per share.
• The offer is an OFS of 10.71 crore shares, taking the total issue size to Rs 1,838 crore.
• The IPO will open on 20 March and close on 24 March. The stock is scheduled to list on 30 March.

• Nifty March futures fell 2.11% to 23,228.40 and traded at a premium of 77.3 points.
• For the 17 March expiry, the highest call open interest stood at 25,000, while the highest put open interest was at 21,500.
• SAIL and Sammaan Capital remained in the F&O ban period.

Several stocks may remain in focus on fresh orders, regulatory approvals and management changes. Britannia Industries approved the appointment of Rakshit Hargave as CEO and MD, Data Patterns secured a Rs 288 crore order, Seamec’s consortium won a Rs 411 crore contract from ONGC, and Jio Financial Services received IRDAI approval for the Allianz Jio Reinsurance joint venture.

Other names on the watchlist include Nippon Life AMC after DWS agreed to buy a 40% stake in its AIF arm for Rs 733 crore, Ramky Infra after its arm got a Rs 3,000 crore order from MIDC, and VA TECH WABAG and Bajel Projects on fresh order wins. On the downside, Fractal Analytics, Aye Finance and Nephrocare Healthcare Services are set for lock-in expiry, while Salasar Techno, Orient Bell, Aster DM Healthcare, Gillette India, MRPL and Chennai Petroleum may be tracked on company-specific developments.

• Crude oil stayed above $100 per barrel, while Asian markets and US stock futures traded lower.
• Global bond yields rose and gold ended a two-day losing run.
• Foreign institutional investors remained net sellers in the cash market for an 11th straight session on Friday. FII short positions stood at 89% versus 88%, the highest level in the March series.

• Dow Jones Industrial Average futures rose 153 points, or 0.3%.
• S&P 500 futures gained 0.3%.
• Nasdaq-100 futures also added 0.3%.

• Australia’s S&P/ASX 200 fell 0.44%.
• Japan’s Nikkei 225 declined 1.07%, while Hong Kong’s Hang Seng index slipped 0.3%.
• China’s CSI 300 was down 0.31%.

• US crude rose above $100 per barrel.
• WTI gained 2.64% to $101.32 per barrel, while Brent rose 2.94% to $106.17 per barrel.
• Prices moved higher as the US weighed possible strikes on Iran's oil export facilities on Kharg Island.

• GIFT Nifty traded at 23,317.50, above the Nifty 50's close of 23,151.10 on Friday.