Stock Market Today: All You Need To Know Going Into Trade On March 6

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.

Meanwhile, crude oil prices fell to the lowest level since May 2023. The Brent crude was up 0.39% at $69.57 a barrel as of 6:51 a.m. IST, and the West Texas Intermediate was up 0.39% at $66.57.

The benchmark equity indices ended Wednesday's session in the green, snapping the longest losing streak in 29 years.

The NSE Nifty 50 closed 254.6 points, or 1.15%, higher at 22,337.3, while the BSE Sensex gained 740.3 points, or 1.01%, to settle at 73,730.2.

Foreign portfolio investors remained net sellers for the 10th consecutive session, offloading Indian equities worth approximately Rs 2,895.04 crore. Meanwhile, domestic institutional investors continued their buying streak for the 20th straight session, purchasing equities worth Rs 3,370.60 crore, according to provisional NSE data.

Stocks To Watch

• Zydus Lifesciences: The firm received the final approval from the United States Food and Drug Administration to manufacture Dasatinib Tablets.

• Gensol Engineering: Investment Information and Credit Rating Agency revised the firm's rating by downgrading it to D vs BBB- for its long-term-fund-based term loans after feedback from the company's lenders about the ongoing delays in debt servicing.

• Galaxy Surfactants: The company entered into a strategic collaboration via its group companies with one of its global customers to provide engineering, procurement and construction services for their performance surfactants and specialty ingredients plant at an overseas location.

• IOL Chemicals and Pharmaceuticals: The European Directorate for the Quality of Medicines And Health Care issued a certificate of suitability for the company's API product-Quetiapine Fumarate. This certification will enable the firm to export Quetiapine Fumarate to European and other countries that accept CEPs.

• R Systems International: The Blackstone company launched an IoT Smart C2C Connector on Amazon Web Services to simplify smart home device integration challenges

• MSTC: The Telangana administration issued a government order to all its offices to utilise e-auction and e-procurement services of MSTC Ltd. for a period of two years.

• GMR Airports: The company acquired 49% of shares of Bird Delhi General Aviation Services Pvt. Pursuant to the acquisition, the private firm has become an associate of the company.

• Route Mobile: Proximus Global, Telesign and Route Mobile announced that it will partner with Nokia to explore opportunities that utilise their respective strengths in network application programming interface solutions to support developers as they create new applications for enterprises.

• Wipro: The company launched TelcoAI360 to transform operations for telecom companies by leveraging AI.

• Ceigall India: Achieved Project Milestone III under Schedule G for six-laning of Jodhpur Romana (Bathinda) - Mandi Dabwali, ahead of schedule.

• RPP Infra Projects: Received a letter of acceptance for an Rs 80.98 crore project for stormwater drain construction in Chennai.

• Greaves Cotton: Confirmed voluntary dissolution of step-down subsidiary Greaves Technologies Inc in the US.

• Oriental Rail Infrastructure: Secured an Rs 1.61 crore order from North Western Railways.

• Tata Consultancy Services: Partnered with Vantage Towers to launch a digital service platform for property owners leasing telecom tower sites.

• Kirloskar Industries: MD Mahesh Chhabria to resign effective March 31.

• Hindustan Zinc: To consider raising funds via NCDs on March 10.

• Jindal Worldwide: Entered a share purchase pact with June Enterprises for the sale of its entire stake in Kashyap Tele-Medicines.

Trading Tweaks

• Price band change to 5% from 10%: Coffee Day Enterprises.

• Price band change to 5% from 20%: Rossell Techsys.

• Stocks moving into short-term ASM framework: Nibe Ltd, Precision Camshafts.

• Stocks moving out of short-term ASM framework: GlaxoSmithKline Pharmaceuticals, KDDL Ltd.

Insider Trades

• NCC: Promoter Group Bhupathi Raju Kausalya acquired 11,500 shares.

• Rain Industries: Promoter Sujala Investments acquired 30,902 shares.

• West Coast Paper Mills: Promoter Veer Enterprises acquired 10,000 shares.

• Man Industries (India): Promoter Group Man Finance acquired 9,175 shares.

• BCL Industries: Promoter Kushal Mittal acquired 2.47 lakh shares.

• La Opala RG: Promoter Genesis Exports acquired 20,000 shares.

• Indoco Remedies: Promoter Shanteri Investment acquired 9,401 shares.

• Sobha: Promoter Puthan Naduvakkatt Chenthamaraksha Menon acquired 1,431 shares.

• Insolation Energy: Promoter and Director Payal Gupta acquired 3,500 shares.

• K.C.P.: Promoter VL Indira Dutt acquired 27,500 shares.

Pledged Share Data

• Go Fashion (India): Promoter and Director Rahul Saraogi pledged 7.3 lakh shares.

• Fusion Finance: Promoter and Director Devesh Sachdev pledged 3.5 lakh shares.

F&O Cues

• 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. 

Who's Meeting Whom?

• One 97 Communications: To meet a group of analysts and investors from March 11-19.

• Titan: To meet C-Worldwide Asset Management on March 14 and Eastspring Investments Robowealth Indego Wealth on March 21.

• GAIL (India): To meet investors and analysts from March 24-27.

• JSW Infrastructure: To meet investors and analysts from March 10-13.

Currency Update

The Indian Rupee closed stronger on Wednesday, supported by falling crude oil prices despite escalating trade tensions triggered by US President Donald Trump. The currency settled at 86.96 per US Dollar, strengthening 31 paise from its previous close of 87.27, according to Bloomberg.