Closing Bell: Sensex, Nifty flat; smallcaps gain, midcaps drag

Indian equity indices ended flat amid volatility with Nifty at 22,550 on March 7. At close, the Sensex was down 7.51 points or 0.01 percent at 74,332.58, and the Nifty was up 7.80 points or 0.03 percent at 22,552.50.

We wrap up today's edition of the Moneycontrol live market blog, and will be back Monday morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Markets ended flat with a mixed bias in a slightly choppy trading session, as investors traded with caution after 2 days of gains. Weak global cues also contributed to overall sluggishness.

Markets traded in a narrow range and ended almost flat, pausing after two consecutive sessions of gains. Nifty opened on a flat note and attempted to inch higher in early trade, but a mixed trend among heavyweights limited the upside. As a result, it closed unchanged at 22,552.5.

Sectoral movement kept traders engaged, with metals finishing in the green, while realty and IT were among the laggards. A similar trend played out in the broader market, as small-caps edged higher while mid-caps closed in the red.

Nifty is now approaching its immediate resistance at 22,700 and will require fresh catalysts to break past this level. A potential trigger could be renewed buying interest in banking heavyweights, which have largely stayed on the sidelines during the recent rebound. However, global uncertainties may weigh on sentiment and disrupt this recovery attempt. Given the mixed signals, we recommend maintaining a positive yet cautious stance, with a focus on prudent position sizing.

The India Nifty remained volatile within a narrow range, closing with a small-bodied candle on the daily chart. Significant put writing was seen at the 22,300 strike, while decent call writing was visible at the 22,800 strike. The sentiment remains positive, with the potential to reach higher levels in the short term.

On the higher end, immediate resistance is seen at 22,700–22,750. On the lower end, support is placed at 22,400, below which the index may lose momentum.

The Indian stock market concluded on a relatively flat note today following a strong performance in the previous sessions. The Nifty 50 closed marginally higher at around 22,550, while the Sensex hovered above 74,300, reflecting a cautious trading environment.

Despite a weak opening indicated by the GIFT Nifty, the indices managed to maintain their gains from the previous day, supported by positive global cues and domestic factors.

Sector-wise, FMCG, metal, and oil & gas stocks continued to perform well, while real estate remained under pressure. The market's stability was also influenced by US President Trump's decision to delay tariffs on Canada and Mexico, which boosted investor sentiment. However, global market volatility, particularly from the US, kept traders cautious.

#1 Market turns positive, reports biggest weekly gain of 2025

#2 Nifty snaps 3-week losing streak, up nearly 2 percent for the week

#3 Nifty Bank records gain but relatively underperforms, up 0.4 percent

#4 Big move in broader markets helps midcap index surge nearly 3 percent

#5 All sectoral indices see gains this week, Metal & PSU top gaining indices

The global market is experiencing a heightened uncertainty due to US tariff impositions and counter threats from its peers. This ambiguity has led to increased risk aversion and diminished appeal of equities. EMs have been particularly affected, experiencing significant outflows. Lately, S&P 500 index is showing signs of a deeper correction, reflecting concerns about the potential impact of tariffs on the US economy.

In contrast, Indian markets have demonstrated resilience off late despite looming trade war. While a recovery in corporate earnings could significantly improve the domestic sentiments. Investors could go overweight on large caps given stability in earnings and increasing valuation comfort.

Indian rupee ended 23 paise higher at 86.88 per dollar on Friday against previous close of 87.11.

Indian equity indices ended flat amid volatility with Nifty at 22,550 on March 7.

At close, the Sensex was down 7.51 points or 0.01 percent at 74,332.58, and the Nifty was up 7.80 points or 0.03 percent at 22,552.50. About 2431 shares advanced, 1400 shares declined, and 120 shares unchanged.

Reliance Industries, Nestle, Bajaj Auto, Bharat Electronics, Hindalco are among major gainers on the Nifty, while losers are IndusInd Bank, NTPC, Shriram Finance, Infosys, HCL Technologies.

BSE Midcap index was down 0.3 percent, while Smallcap index up 0.7 percent.

On the sectoral front, Consumer Durables, IT, Power, realty down 0.5-1 percent, while Capital Goods, Energy, Metal, Media up 0.5-2 percent.

#1 Company appears well positioned to benefit in medium term largely

#2 Buy on Oberoi Realty & Prestige Estates

#3 Neutral on DLF, sell on Sobha

A meeting of board of director of the company will be held on Thursday, March 13, 2025, to consider and approve the proposal of raising of funds by way of issuance equity shares or any other eligible securities.

#1 Promoters bought 2.7mn shares worth Rs 27 crore through open market, stake moved to 4.28 percent

#2 Quantum of this acquisition shows belief in long-term prospects & growth potential

#3 This shall boost confidence of minority investors

#4 Zee's subscription revenue remains strong with seven consecutive quarters of expansion in Q3FY25

#5 Ad revenue, though currently weak could start recovering Q2FY26 onwards

#6 Led by urban demand recovery and higher gross margin for FMCG

#7 On valuations front, stock is attractively trading at 10x P/E

The board of directors of the company at its meeting held on March 07, 2025 approved issue of bonus shares in the ratio of 3:2 i.e. 3 new bonus equity shares of Rs 2 each for every 2 existing Equity Share of Rs 2 each fully paid up held as on the Record Date, subject to approval of the members of the Company.

#1 After 8.5 percent port volume growth in FY25, expect acceleration in port volumes over FY26-27

#2 Driven by ramp-up at Vizinjham, Gopalpur, & Tanzania

#3 Commissioning of port at Colombo - driving early double-digit volume growth

#4 Logistics revenue & EBITDA will continue to grow much faster in medium term

#1 Company forges a legacy of executing large & technically complex infra EPC projects over the past six decades

#2 Operationally, it has built out diversified geographical & segmental exposure

#3 Financially, efficient working capital management has allowed it to fund growth internal Accruals; AIL’s revenue/Gross block jumped 3.7–3.8x over FY14–24 even as net debt/equity halved

#4 AIL clocked order book/revenue/PAT CAGR of 16 percent/18 percent/29 percent over FY06–24

#5 Given its book-to-bill of 3.8x, reckon EBITDA/PAT shall compound at 17 percent/22 percent over FY25–27

#1 Reiterated confidence of growing revenue by 15 percent CAGR over medium-term reiterated confidence of growing revenue without hurting its balancesheet margin

#2 Software will be fastest growing segment, but there is sufficient growth

#3 Growth across core verticals even in existing geographies

#4 Continue to like Redington’s solid position as an integral partner for brands participating in ICT growth story and its focus on profitable growth

AGS Transact Technologies and Securevalue India, material subsidiary of the company have defaulted in the payment of principal repayment obligations for certain outstanding borrowings of the company and SVIL.

The Company, SVIL and India Transact Services (ITSL), material subsidiary of the company, have delayed the payment of certain statutory dues on account of delay in collection of amounts due from customers and in invoicing of certain unbilled amounts, and

the company and SVIL has processed certain payment of statutory dues.

The board has approved an investment of Rs 83.3 crore in KRKA Pharma, a joint venture of the company. Further, KRKA d.d., Novo mesto, Slovenia (co-venturer), will also invest Rs 86.7 crore in KRKA. With this, they will maintain the existing shareholding ratio of 51:49 between KRKA d.d., Novo mesto, and Laurus Labs.

The purpose of this investment is to acquire land and meet the initial cost of setting up a manufacturing facility for the production of finished products for new markets, including the Indian market.

#1 20 percent correction from peak presents a good entry opportunity

#2 Good entry opportunity due to structural growth in defence capex in India

#3 BEL being the most diversified & consistent play on same

#4 BEL’s revenue/EBITDA/PAT CAGRs of 15 percent/17 percent/16 percent with 25 percent+ avg ROE over FY24- FY27 is compelling

#5 Stock trading at FY26/FY27 P/E of 36x/31x

#6 See a high possibility of BEL announcing Rs 120 bn worth of orders by March 31

#7 The announcement would impact act as a near-term catalyst for stock price

The Sensex was down 33.83 points or 0.05 percent at 74,306.26, and the Nifty was down 1.75 points or 0.01 percent at 22,542.95. About 2290 shares advanced, 1250 shares declined, and 93 shares unchanged.

#1 Adani’s Dharavi project win is under scrutiny, SC orders creation of escrow account for payments

#2 Adani’s Dharavi project win is subject to Supreme Court’s ruling

#1 Company made a series of announcements, including acquisitions of Rythmos & TMLabs 1:5 stock split, & most importantly, a 13-year USD 1.56 bn TCV new deal win from sabre

#2 Potentially the largest deal ever won by any mid-cap IT company & could contribute 7 percent or USD 100 million to company’s annual revenues

#3 Rythmos’ acquisition will strengthen expertise in airline industry with capabilities in cloud, AI/ML & big data

#4 TMLabs will enhance its service now implementation capabilities, especially in Australia & healthcare

#5 With Sabre deal, now estimate company to deliver sector-leading 21.4 percent CC organic revenue growth in FY25

#6 Overall 23 percent/39 percent dollar revenue/EPS CAGR over FY25-27

Data Patterns share price extended gain on third consecutive session.

Inox Wind  has bagged a 153 MW order from a leading renewable energy developer, which is a member of a large global clean energy company.

This order is for the supply of IWL’s 3 MW class turbines for a project being developed by the company in Tamil Nadu.

Additionally, IWL will provide limited scope EPC for the project as well as multi-year operations & maintenance (O&M) services post the commissioning of the turbines.

#1 Announces non-stop flights to Manchester & Amsterdam

#2 IndiGo enters into a damp lease agreement with Norse Atlantic Airways for a Boeing 787-9 aircraft

#3 The aircraft was inducted into operations on March 1, 2025

#4 Agreement has been expanded to include damp lease of three additional aircraft scheduled to join IndiGo’s fleet towards H2CY25

#5 These aircraft will be used in IndiGo’s long-haul sectors

#6 Until deliveries of the Airbus A321 XLR & A350-900 aircraft start from 2027 onwards

#7 Over past 2 years, IndiGo has been expanding its service to Europe

#1 Board of Directors (BoD) of Coforge approves a stock split in ratio 1:5

#2 BoD of Coforge approves acquisition of 100 percent stake in Rhythmos & TMLabs

#3 Note that an upfront 100 percent stake acquisition is different from playbook generally used by Coforge

#4 So far where it had moved in a step function

#5 Like added capabilities, however, price paid does not seem inexpensive

#6 Assuming these as onsite centric businesses with a high single-digit EBIT margin profile

#7 Yield on total consideration paid of 6 percent

#8 Acquisitions could be up to 1 percent dilutive to PBT

The company has secured new orders worth Rs 2,306 crore in the transmission and distribution business in overseas markets, as well as in building projects in India. With these orders, its order intake to date in FY25 has reached around Rs 22,500 crore.

#1 Analysis suggests that ongoing projects now account for 40-50 percent of overall EV of real estate companies

#2 Free cash flows even without future sales are largely positive

#3 Balance sheets strong & prospective margin likely higher

#1 Strong cash flows & response to dahlias project launch shows Gurgaon market concerns are likely overblown

#2 Lease income is set for a 20 percent uptick as several properties complete

#3 Stock trading at >30 percent NAV discount is attractive

#4 Ignores significant potential of company’s land bank beyond near-term project pipeline

#5 Mumbai project launch could provide a near-term trigger

Kamat Hotels (India) has signed an agreement for the management and operation of The Orchid Hotel at Rishikesh in Uttarakhand.

IndiGo, with its long-haul debut, announced non-stop flights to Manchester and Amsterdam. The service to Manchester will be the only direct route from India to the North of the UK. The operations are expected to commence during the summer schedule from July 2025.

The company's subsidiary, Biocon Biologics, announced a strategic collaboration agreement with Civica, Inc. to expand access and affordability of Insulin Aspart in the United States. As per the agreement, Biocon Biologics will supply Insulin Aspart drug substance to Civica, Inc., which will use the drug substance to produce Insulin Aspart drug products, a rapid-acting insulin analog, at its manufacturing facility in Petersburg, Virginia.

Asian stocks followed US equities lower as continual shifts in US President Donald Trump’s approach to tariffs on trade partners whipped up market uncertainty and dented confidence in the economic outlook

The company has received a Letter of Acceptance from South Western Railway for a project worth Rs 156.35 crore. The project involves engineering, procurement, and construction (EPC) for the design, supply, erection, testing, and commissioning of a 2X25 KV OHE & PSI system, including electrical general services, engineering, and telecommunication works between Rayadurga and Pavagada.

#1 Indian steel stocks have rallied sharply in last two trading sessions

#2 Driven by a positive policy tone from China NPC, Germany’s infrastructure fund announcement & news reports of potential safeguard duty imposition by Indian government

#3 Prima facie, are encouraged by these developments, but specific scale of China steel

#4 Production cut is not yet known & German infra investment of €500 bn will be spread over a 10-year period

#5 News reports suggest that it might take 6-9 months to conclude the investigation around safeguard duties in India

The company has launched a premium residential project—Brigade Altius—in Chennai, spanning 6.5 acres with a total development area of 1.4 million square feet. The project has a revenue potential of Rs 1,700 crore.

The company's subsidiary, Omaxe World Street, has received RERA Registration Certificates from the Haryana Real Estate Regulatory Authority (HRERA) for two of its new commercial projects (New Singapore and Clarkee) in Faridabad, Haryana.

The Sensex was up 10.24 points or 0.01 percent at 74,350.33, and the Nifty was up 11.55 points or 0.05 percent at 22,556.25. About 2535 shares advanced, 907 shares declined, and 127 shares unchanged.

J Kumar Infraprojects has received "Letter of Award" from Mumbai Railway Vikas Corporation for the work of construction of major bridges, ROB at Vasai, Vehicle Subway, Minor Bridge, Drain & Earthwork from Borivali station to Nallasopara station in connection with proposed 5th & 6th line in between Borivali-Virar Stations of Western Railway under Mumbai Urban Transport Project (MUTP)- Phase IIIA for the total contract value amounting to Rs 120,87,67,805.34.

Sachin Mehta has resigned as Chief Financial Officer of the company, effective April 1, 2025. However, he will continue as the Joint Managing Director of the company. The Board has appointed Manoj Lodha as Executive Director and Chief Financial Officer of the company, effective April 1.

The company has completed the divestment of its 26% stake in Jindal Coke for Rs 194.89 crore. With this, Jindal Coke has ceased to be an associate of the company.

The Sensex was up 65.47 points or 0.09 percent at 74,405.56, and the Nifty was up 33.60 points or 0.15 percent at 22,578.30. About 2547 shares advanced, 827 shares declined, and 125 shares unchanged.

As part of Eris Group's internal restructuring of its holdings, the company has transferred 100% of its holdings in two entities—Eris Oaknet Healthcare and Aprica Healthcare—to its subsidiary Eris Therapeutics, for Rs 861.9 crore.

The Government of India has appointed Amitava Mukherjee as Chairman & Managing Director on the board of the company, effective March 6.

Gold inched lower on Friday on some profit-taking, but was on track for a weekly rise as uncertainty around U.S. President Donald Trump's tariff plans firmed demand, while investors awaited U.S. non-farm payrolls data.

Spot gold eased 0.2% to $2,904.98 an ounce. Bullion has gained 1.6% so far this week.

U.S. gold futures lost 0.5% to $2,911.90.

The bank has revised its one-year marginal cost of funds-based lending rate (MCLR) to 9.60% from 9.75% earlier, and its repo-linked lending rate (RLLR) to 9.25% from 9.45% earlier, effective March 7.

#1 After 8.5 percent port volume growth in FY25, expect acceleration in port volumes over FY26-27

#2 Driven by ramp-up at Vizinjham, Gopalpur, & Tanzania

#3 Commissioning of port at Colombo - driving early double-digit volume growth

#4 Logistics revenue & EBITDA will continue to grow much faster in medium term

Asian stocks followed US equities lower as continual shifts in US President Donald Trump’s approach to tariffs on trade partners whipped up market uncertainty and dented confidence in the economic outlook.

The Reserve Bank of India has granted Licence to act as Authorized Dealer Category-I (AD-I) in foreign exchange.

#1 20 percent correction from peak presents a good entry opportunity

#2 Good entry opportunity due to structural growth in defence capex in India

#3 BEL being the most diversified & consistent play on same

#4 BEL’s revenue/EBITDA/PAT CAGRs of 15 percent/17 percent/16 percent with 25 percent+ avg ROE over FY24- FY27 is compelling

#5 Stock trading at FY26/FY27 P/E of 36x/31x

#6 See a high possibility of BEL announcing Rs 120 bn worth of orders by March 31

#7 The announcement would impact act as a near-term catalyst for stock price

Veranda Learning Solutions has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology (IIT) Madras.

This partnership aims to deliver high-quality, accessible, and affordable education to aspirants for skill building. The initial set of courses will help students to enhance their skills for competitive exams.

The company has inaugurated its new greenfield facility in Chennai, which will increase its capacity to manufacture paperboard cartons and strengthen its pan-India presence, enhance logistics, and improve service capabilities.

The Sensex was down 16.41 points or 0.02 percent at 74,323.68, and the Nifty was up 5.50 points or 0.02 percent at 22,550.20. About 2259 shares advanced, 937 shares declined, and 117 shares unchanged.