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Large Caps Add 6.7 lakh crore in market cap today.
Top Contributors in Market Cap Change:
Reliance Industries: Rs 64,549 crore.
Bharti Airtel: Rs 28,279 crore.
Mid-Caps Add 2.49 lakh crore in market cap today.
Top Contributors In Market Cap Change:
Lloyds Metals: Rs 6,953 crore.
Hitachi Energy: Rs 6,042 crore.
Small Caps Add 1.74 lakh crore in market cap today.
Top Contributors In Market Cap Change:
Ventive Hospitality: Rs 2,613 crore.
Brainbees: Rs 2,580 crore.
Rajneet Singh Kohli has resigned as the CEO and executive director of Britannia Industries, effective March 14.
Varun Beverages Ltd. had 19.97 lakh shares or 0.06% equity changed hands in four large trades, as per data on Cogencis terminal.
The shares moved at the price range of Rs 480.9–493 apiece.
Castrol India Share Price Rises As Saudi Aramco Looks To Pick Up Stake
Slowdown in goods and services that middle-class people use for asset creation, and to upgrade their standard of living will likely be prolonged, Nandita Rajhansa and Saurabh Mukherjea deduced after analysing India's debt and savings trend. The onus is on rising debt among Indian households for consumption, instead of forming capital goods and services, the writers said in their latest article on Marcellus Blog.
Private consumption in India has slowed to 5.3% in 2022–23, compared to 7.9% 2019–20, according to National Statistical Office. On the other hand, India's net national savings as a percentage of GDP was at the lowest level in last 50 years.
Read full story here.
Financial stocks once again topped monthly outflows as global funds continued to offload, despite the counters having the cheapest valuations amid the ongoing correction.
Financial services stocks saw an outflow of $803 million from foreign institutional investors in February, while the fast-moving consumer goods companies followed suit with $793 million worth selloff, according to data from National Securities Depository Ltd.
Read full story here.
Over 1.5 million shares of ICICI Bank were traded via a block deal on Thursday. The share of ICICI Bank rose as much as 0.23% to Rs 1,218.50 apiece.
Retail car sales plunge more than 10% in February in signs of an auto sales slowdown.
2W sales down 6.33% at 13,53,280 units.
3W sales down 1.92% at 94,181 units.
Car sales down 10.34% at 3,03,398 units.
CV sales down 8.60% at 82,763 units.
Total auto sales down 7.19% at 18,99,196 units.
Car inventory levels remain sticky at 50-52 days, underscoring the mismatch between retail and wholesale.
Source: FADA
Over the last few weeks, there has been an increase in chatter among high-salaried individuals looking at a 'new' tax-saving route. However, the provision under has existed for a long time under section 80GGC of the Income Tax Act, 1961.
The tax provision under the spotlight provides for deductions through donations made by individual taxpayers to political parties or any electoral trusts and requires that political parties must be registered under Section 29A of the Representation of the People Act, 1951.
Read full story here.
Indian equities were trading higher with Nifty rising nearly 0.34% at 22,415.60 and Sensex rose over 200 points at 73,931.24.
Intraday, both Nifty and Sensex rose over 0.60%.
Nifty rose 0.69% to 22,491.30.
Sensex rose 0.78% to 74,308.59.
Broader indices were trading higher. Nifty Midcap 150 rose 0.50%; Nifty Smallcap 250 was trading 1.25% higher.
All sectoral indices rose, led by Nifty Metal and Nifty oil and gas.
Nifty Bank rose 0.15%, Nifty IT was down 0.03%.
Reliance Industries, Axis Bank, Asian Paints, Tata Steel and HUL were top Nifty gainers.
HDFC Bank, Trent, Tech Mahindra, ITC and Kotak Mahindra Bank were top Nifty losers.
When investors struggle to predict the bottom of a market correction, the very institutions they turn to for guidance can sometimes add to the uncertainty.
Indian stocks have erased over $1.2 trillion in market capitalisation with retail investors seeing the most impact. While various analysts and brokerage houses try to foresee an end to the plunge, two divisions of Jefferies have contrasting views on the revival of Indian stocks based on their quantitative and fundamental outlook.
Read full story here.
Kotak Mahindra Bank: 3% Away
Bajaj Finance: 4% Away
JSW Steel: 5% Away
Bharti Airtel: 9% Away
Eicher: 10% Away
Broader markets show some strength this week
Nifty Midcap 150 up almost 4% this week
Nifty Smallcap 250 up over 4.7% this week
Market Cap Gain
Midcaps have gained Rs 2.85 lakh crore
Smallcaps have gained Rs 2.23 lakh crore
Top Market Cap Gainers
Midcap: HPCL, Hitachi Energy, Union Bank.
Smallcap: Jyoti CNC Automation, KPR Mill, Laurus Labs.
Lower risk weights on bank funding to NBFCs, MFIs unlikely to increase rapid funding
RBI’s move could ease some pressure on NBFCs, MFIs
Banks to remain cautious due to broader liquidity constraints, funding costs
Lower risk weights to help banks’ capital adequacy ratio by 30 bps
Large NBFCs with good credit standing will seek to renegotiate their funding spreads from banks
Small, mid-sized NBFCs will benefit from as they depend heavily on bank funding
Banks' appetite towards MFI sector may be capped by their own asset-quality challenges
Over 1.88 million shares of Zomato were traded via a block deal on Thursday. The share of Zomato rose as much as 0.94% to Rs 229.08 apiece.
Over 1.05 million shares of HDFC Bank were traded via a block deal on Thursday. The share of HDFC Bank rose as much as 0.09% to Rs 1,691.25 apiece.
At pre-open, the NSE Nifty 50 was trading 129.05 points or 0.62% higher at 22,476.35. The BSE Sensex was 0.79% higher at 74,309.44.
The yield on the 10-year bond opened flat at 6.69%
It closed at 6.70% on Wednesday.
Source: Bloomberg
Rupee opened 7 paise higher at 86.89 against the US Dollar. It closed at 86.96 on Wednesday.
Source: Bloomberg
The dollar index is 0.01% lower at 104.31. Brent crude was up 0.65% to $69.75.
Angel One has reported a weak business update for February 2025. The company’s performance metrics indicate a challenging month, with several key indicators showing a decline.
Despite a 1.5% month-on-month growth in its client base, which reached 3.06 crore, the gross client addition of 5 lakh was down by 26% MoM. This slowdown in client base growth, especially on a high base, suggests that the company is facing difficulties in attracting new clients at the same pace as before.
The average daily orders for February stood at 49.6 lakh, marking a 9% decline MoM. While the volume of orders has decreased, the overall trading activity remains significant. However, the cash average daily turnover saw a 12% drop MoM, indicating reduced trading activity in the cash segment.
Read full story here.
Retained a 'neutral' rating on the stock and lowered the target price to Rs 4,230 apiece from Rs 4,880.
The National Stock Exchange expiry day change is negative for BSE’s options market share.
Reduced BSE’s potential to gain additional market share.
Potential share cap would act as a loss of tailwind for BSE’s top-line revenue.
Additionally, shrinking industry volumes in options trading would act as a headwind.
This could transpire due to tighter client limits proposed by the Securities and Exchange Board of India.
Cut earnings per share estimates for fiscal years ending March 2026, 2027, and 2028 by 13%, 16%, and 16%, respectively.
Read full story here.
Nifty March Futures up by 1.4% at a premium of 104.1 points.
Nifty March futures open interest down by 2.04%.
Nifty Options March 06 Expiry: Maximum Call open interest at 25,050 and Maximum Put open interest at 20,900.
Securities In Ban Period: Manappuram Finance.
The US Dollar index is down 0.07% at 104.25.
Euro was flat at 0.9429.
Pound was up 0.18% at 0.7755.
Yen was up 0.16% at 149.20.
Stocks in the Asia-Pacific region advanced on Thursday on minor relief after US President Donald Trump agreed to delay newly imposed automaker levies and weigh exemptions on agricultural products tariffs on Mexico and Canada.
Japan's Nikkei rose 1.04%, or 380 points to 37,794, while South Korea's Kospi was up 0.44% at 2,568 as of 6:45 a.m. Future contracts in China and Hong Kong hinted at a positive start for the stocks after it set its economic growth at 5% for the third consecutive year.
The South Asian country also set this year’s fiscal deficit target to around 4% of gross domestic product. The renewed focus on domestic consumption is expected to stimulate economic activity and support sustained growth, according to Citi Group.
The White House said auto tariffs on Mexico and Canada would face a one-month delay, according to a Bloomberg report while Trump is considering exempting certain agricultural products from tariffs. The dollar index tumbled 1% in the previous session, taking the monthly fall in March so far to 3.07%, the biggest fall since November 2022.
In another volatile session, stocks on Wall Street ended higher in the late hour, recovering from a two-day fall. The S&P 500 rose 1.12%, while the Nasdaq 100 advanced 1.46%. The Dow Jones Industrial Average rose by 1.14% on Wednesday.
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