Closing Bell: Nifty at 22,500, Sensex flat as IndusInd Bank crashes; realty, telecom, oil & gas rally

Market Close | Sensex, Nifty flat amid volatility

Indian equity indices ended on flat note in the volatile session on March 11. At close, the Sensex was down 12.85 points or 0.02 percent at 74,102.32, and the Nifty was up 37.60 points or 0.17 percent at 22,497.90.

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

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing weakness from near the hurdle of 22700 levels on Monday, Nifty witnessed smart upside recovery from the lows on Tuesday and closed the day on a positive note. After opening with a downside gap of 115 points the market shifted into an upside recovery soon after the opening. The bounce continued amidst a range movement in the mid to later part of the session and Nifty finally closed near the highs. The opening downside gap has been filled completely.

A long bull candle was formed on the daily chart which is signaling a formation of bullish 'meeting line' type candle pattern after a small decline. Similar candle pattern was formed on 4th March and that was followed by a reasonable bounce in the market. Hence, this is positive indication and further upside from here could confirm the reversal pattern.

After the negative chart pattern like lower tops and bottoms over the last few weeks, Nifty is now in the process of forming a new higher bottom at 22300 levels. A decisive upmove above the hurdle of 22700-22800 levels could confirm the bullish shift and that could open more upside in the near term. Immediate support is placed at 22315 levels.

Ajit Mishra – SVP, Research, Religare Broking

Markets remained volatile but managed to close slightly in the green amid mixed signals. A weak global outlook led to a gap-down opening, but selective buying in heavyweight stocks helped recover losses and push the indices higher by the close. As a result, the Nifty index ended at 22,497.90, up 0.17%.

Sector-wise, a mixed trend kept traders cautious—realty, financials, and metals posted gains, while banking and IT ended in the red. Broader markets also showed divergence, with the midcap index rising over half a percent, while smallcaps slipped into negative territory.

Looking ahead, global cues, particularly from the U.S., may continue to drive volatility. On the technical front, a decisive breakout from the 22,250-22,650 range could set the next directional move for Nifty; otherwise, the sideways trend may persist. In the current environment, we maintain our view of selective stock-picking while managing positions on both sides.

Stock Market LIVE Updates | Poly Medicure gets medical device regulation (MDR) certification for its 54 products in Europe

Stock Market LIVE Updates | CG Power enters into long-term supply agreement with Kinet Railway Solutions

Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed a modest recovery from lower levels, with the Nifty ends 38 points higher. Among sectors, the Realty index outperformed, rallying by 3.75 percent, while the Private Banks and Capital Market indices shed over 1 percent.

Technically, in the backdrop of weak global sentiment, our market opened with a gap down; however, due to buying interest at lower levels, it recovered sharply. We believe that as long as the market is trading above 22,300/73700, the short-term outlook remains bullish. On the higher side, it could retest the levels of 22,600-22,650/74500-74700. Conversely, if it falls below 22,300/73700, the sentiment could change. Below this level, traders may prefer to exit their long positions.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty started the day with a gap down, following weak global cues. However, during the day, the sentiment remained positive. Overall, the sentiment remains positive for the very short term, supported by strong momentum in the RSI indicator and the index closing above the 50 EMA on the hourly timeframe.

In the very short term to short term, the index might continue its strength with the potential to reach 22,660–22,700. Above 22,700, the Nifty might move towards 23,000. On the lower end, support is placed at 22,400 on a sustained basis.

Stock Market LIVE Updates | Godrej Agrovet to acquire 48.06% equity stake in Creamline Dairy Products for Rs 930 crore

Vinod Nair, Head of Research, Geojit Financial Services

Despite significant selloffs in the U.S. and other Asian markets driven by concerns over an economic slowdown caused by the ongoing trade war, the domestic market is showing signs of a gradual recovery. Its relatively lower volatility can be attributed to a moderation in valuations following recent corrections, along with supportive factors such as falling crude oil prices, an easing Dollar Index, and expectations of a rebound in domestic earnings.

These elements are expected to contribute to stability amid prevailing trade uncertainties. Meanwhile, attention remains on the upcoming retail inflation data, which could provide insights into potential interest rate cuts.

Prashanth Tapse, Senior VP (Research), Mehta Equities

Markets ended mixed in a choppy trading session with benchmark Nifty erasing its losses towards close due to selective buying. Weakness in Asian and US markets indices kept the mood cautious, while strong foreign fund outflows coupled with volatile currency and global economic uncertainty continue to make investors risk averse.

Aditya Gaggar Director of Progressive Shares

Benchmark Index opened on a subdued note, influenced by weak global cues, but quickly bounced back from its immediate support level of 22,330. After a rangebound mid-session, a sudden surge towards the close enabled the Index to end the trade at 22,497.90 with notable gains of 37.60 points. On the sectoral front, Realty emerged as the top performer, gaining over 3%, followed by Metal, while BankNifty and IT sectors were the major laggards.

The broader market showed a contrasting trend, with Midcaps rising by more than 0.60%, outperforming the Benchmark Index, while Smallcaps declined nearly 1%, underperforming.

As highlighted previously, the Index successfully defended the 22,330 support level, which remains a key level for the near term. To strengthen its upward momentum, the Index must overcome the resistance zone of 22,620-22,730.

Currency Check | Rupee closes 12 paise higher

Indian rupee ended 12 paise higher at 87.21 per dollar on Tuesday against Monday's close of 87.33.

Market Close: Nifty at 22,500, Sensex flat; realty, telecom, oil & gas rally

Indian equity indices ended on flat note in the volatile session on March 11.

At close, the Sensex was down 12.85 points or 0.02 percent at 74,102.32, and the Nifty was up 37.60 points or 0.17 percent at 22,497.90. About 1411 shares advanced, 2406 shares declined, and 115 shares unchanged.

BSE Midcap index was up 0.7 percent, while smallcap index was down 0.7 percent.

Trent, Sun Pharma, ICICI Bank, Shriram Finance, BPCL were among the top gainers on the Nifty, while losers were IndusInd Bank, Infosys, Bajaj Finserv, Power Grid Corp, M&M.

Among sectors, metal, realty, telecom, oil & gas rose 0.5-3 percent, while auto, IT, bank fell between 0.3-0.7 percent each.

Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan

Indian Rupee traded flat to positive today on weak tone in the US Dollar index and a decline in the US 10-year treasury yields. Weak crude oil prices and mixed to positive domestic markets too supported the Rupee. However, FII outflows capped sharp gains.

We expect Rupee to trade with a slight positive bias on weakness in the US Dollar index and a recovery in the domestic markets. However, uncertainty over the trade tariff issue and FII outflows may cap sharp upside.

Traders may take cues from JOLTS job openings data from the US. Investors may remain cautious ahead of the inflation data from the US and India this week. USDINR spot price is expected to trade in a range of Rs 86.95 to Rs 87.40.

Brokerage Call | HSBC maintains ‘buy’ rating on SBI Cards, target price Rs 1,000

#1 Estimates a 200 bps YoY decline in FY26 is possible

#2 Credit costs in Q4FY26 can be 300 bps lower than Q4FY25

#3 This could drive consensus EPS upgrades; PE ratios would fall, making valuations attractive

Brokerage Call | HSBC maintains buy on BPCL, HPCL, IOC

#1 Sharp correction makes Indian OMCs trade below their historic mean valuations, do not see business deterioration

#2 Negatives: INR & GRM weakness

#3 Positives: low oil prices, auto fuel demand, & minimal government intervention

#4 Maintain buy call on BPCL – target price Rs 440

#5 Maintain buy call on HPCL, target price Rs 450, IOC, target price Rs 170

Brokerage Call | HSBC keeps ‘buy’ rating on Maruti Suzuki, target price Rs 14,000

#1 Domestic market outlook is uncertain in the near term

#2 Management remains confident of export potential, especially for EVs

#3 Deterioration in domestic demand or lack of export traction are downside risks

Brokerage Call | Jefferies retains ‘buy’ rating on Voltas, target price Rs 1,990

#1 Post 25 percent YTD dip, Voltas trades at 40X PE FY26, discount to hit 5-year average

#2 9MFY25 leadership market share is steady at 21 percent

#3 Analysis of past 20 quarters shows that Voltas's RAC market share often slows in Q4

#4 Slows in Q4 but recovers thereafter to >20 percent

#5 Estimates Voltas’s growth to normalize in Q4FY25 Vs 9MFY25, due to high base last year

#6 AC industry is likely to be well-stocked in compressors to cater to +25-30 percent YoY demand this summer

Stock Market LIVE Updates | Fitch affirms rating on Union Bank Of India, Bank of India

#1 Fitch affirms Union Bank Of India at BBB-/Stable; Upgrades Viability Rating

#2 Fitch Affirms Bank Of India at `BBB-/Stable; Upgrades Viability Rating

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Brokerage Call | Nomura keeps ‘neutral’ rating on Sun Pharma, target price Rs 1,970

#1 To acquire Checkpoint Therapeutics

#2 To pay USD 355 million in upfront payment

#3 Acquisition adds to the company’s specialty business

#4 The company has a presence in onco-derm (cancer of skin) through Odomzo & Nidlegy

Stock Market LIVE Updates | AGI Infra board approves re-appointment of Sukhdev Singh Khinda as MD

The Board has approved the re-appointment of Sukhdev Singh Khinda as Managing Director of the company, and Salwinderjit Kaur as Whole-Time Director of the company.

Stock Market LIVE Updates | Waaree Renewables JV gets LoA worth Rs 741 crore for EPC works

Markets@2 | Sensex, Nifty trade flat

The Sensex was up 16.08 points or 0.02 percent at 74,131.25, and the Nifty was up 48.55 points or 0.22 percent at 22,508.85. About 1202 shares advanced, 2389 shares declined, and 101 shares unchanged.

Stock Market LIVE Updates | Hindustan Zinc board approves to issue NCDs

The Board has approved the issuance of non-convertible debentures (NCDs) worth up to Rs 500 crore.

Sensex Today | BSE Energy index up 1%; Jindal Drilling, BPCL, IOC top contributors

Sensex Today | Navin Fluorine International commences commercial operations at Surat unit

The plant for manufacture and supply of HFC (R32) at Surat has commenced commercial operations with dispatch of the first commercial lot to the customer today.

Stock Market LIVE Updates | Adani Energy Solutions removes from watch negative by Fitch: Bloomberg

Adani Energy Solutions share price recovers more than 2 percent from day's low

Stock Market LIVE Updates | Urja Global appoints Sachin Kumar Agrahari as CFO

The Board has approved the appointment of Sachin Kumar Agrahari as Chief Financial Officer of the company, replacing Sushil Prajapati, effective March 10. Sushil Prajapati has resigned as Chief Financial Officer.

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Stock Market LIVE Updates | Anupam Rasayan signs 10-year letter of intent with a Korean multinational company

The custom synthesis and specialty chemicals company has signed a 10-year letter of intent valued at $106 million (approximately Rs 922 crore) with a Korean multinational company.

Sensex Today | Nifty Oil & Gas index rises 1%; BPCL, Petronet LNG, IOC top contributors

Stock Market LIVE Updates | Bharat Electronics secures additional orders worth Rs 843 crore

The company has secured additional orders worth Rs 843 crore since March 6, 2025. Major orders include RF seekers, vessel and air traffic management systems, electro-optic repair facilities, radar upgradation, spares, and services. With these orders, its total accumulated orders during the current financial year stand at Rs 14,567 crore.

Stock Market LIVE Updates | Gensol Engineering promoters infuse Rs 29 crore into Gensol through conversion of warrants into equity

Promoters have infused Rs 29 crore into Gensol through the conversion of warrants into equity. The warrants will be converted into 4,43,934 equity shares at a price of Rs 871 per share.

Stock Market LIVE Updates | Emcure Pharmaceuticals foray into daily supplements space

The company announced its entry into the daily supplements space with the expansion of its Arth range. Arth offers a wide range of supplements that harness the power of ancient Indian herbs like Brahmi.

Sensex Today | Nifty Pharma breaks 2-day fall; up nearly 0.5%

Stock Market LIVE Updates | Ajit Pratap Singh appointed at CFO of Sterling and Wilson

The board of directors approved the appointment of Ajit Pratap Singh as the Chief Financial Officer and Key Managerial Personnel of the company with effect from March 24, 2025.

Stock Market LIVE Updates | ICICI Bank shares rise most in 19 weeks

Sensex Today | 2.06 million shares of Kalyan Jewellers India traded in a block: Bloomberg

Stock Market LIVE Updates | 2.98 million shares of Infosys traded in a block: Bloomberg

Sensex Today | Nifty Smallcap index fall on second day; Zensar Tech, Triveni Turbine, BEML, among major losers

Markets@2 | Sensex, Nifty trade flat

The Sensex was up 26.78 points or 0.04 percent at 74,141.95, and the Nifty was up 36.70 points or 0.16 percent at 22,497.00. About 1144 shares advanced, 2400 shares declined, and 103 shares unchanged.

Stock Market LIVE Updates | Indoco Remedies gets one observation from USFDA

Investigators from the Bioresearch Monitoring Program (BIMO) and the Office of Study Integrity & Surveillance (OSIS) of the US Food and Drug Administration (US FDA) completed a five-day comprehensive inspection of the company's Clinical Research Organisation, AnaCipher, in Hyderabad.

The on-site inspection, conducted during March 3-7, covered both clinical and bioanalytical phases of three Bioavailability and Bioequivalence (BA/BE) studies submitted by clients to the US FDA.

The facility received one Form 483 at the end of the inspection, which will be responded to within the specified timeframe.

Stock Market LIVE Updates | Zydus Lifesciences to acquire controlling stake in Amplitude Surgical SA

The board of directors of Zydus Lifesciences at its meeting held today approved entering into a Put Option Agreement, Share Purchase Agreements, and other agreements to acquire, directly or through its affiliates, a controlling stake i.e. 85.6% equity shares of Amplitude Surgical SA, France from the existing shareholders at a price of Euro 6.25 per equity share aggregating to a consideration value of Euro 256.8 million.

Stock Market LIVE Updates | Thermax subsidiary enters in share subscription agreement with Brazil-based company

The company's subsidiary, Thermax Chemical Solutions, has entered into a Share Subscription and Shareholders Agreement with Brazil-based Oswaldo Cruz Química Indústria E Comércio Ltda (OCQ) to establish a new company in India.

Thermax Chemical Solutions will hold a majority 51% stake in the new company, with the remaining 49% held by OCQ. This partnership aims to establish a dedicated production facility for manufacturing acrylic resins in India.

Sensex Today | IndusInd Bank shares drop to lowest levels since November 2020

#1 Shares set to post biggest single-day fall ever

#2 Company erases market cap of nearly Rs 18,000 crore today

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Brokerage Call | Morgan Stanley keeps ‘overweight’ rating on BEL, target price Rs 364

#1 Receives new orders worth Rs 8.43 billion

#2 Major orders include RF seekers, vessel, air traffic management system

#3 Major orders include electro optic repair facility, radar upgradation, spares & more

#4 BEL received new orders worth Rs 5.77 billion on March 6

#5 Overall order inflow for FY25 now stands at Rs 146 billion, compared with guidance of Rs 250 billion

Sensex Today | Nifty recovers 150 pts from day's low

Stock Market LIVE Updates | R S Bansal reappointed as CFO of Hisar Metal Industries

R S Bansal has been reappointed as Chief Financial Officer of the company for three years, effective April 1, 2025.

Global Markets | Asian markets end lower; Straits Times down 2%

Stock Market LIVE Updates | Sensex recovers 400 points from day's low

Sensex Today | BSE Auto index extends fall on second day

Stock Market LIVE Updates | Madhusudan Kela and Yash Kela to invest up to Rs 500 crore in associate company of HEG

Ace investor Madhusudan Kela and Yash Kela-backed Singularity AMC, along with its partners, has signed definitive agreements to invest up to Rs 500 crore in Bhilwara Energy, an associate company of HEG.

The investment will support Bhilwara Energy in creating an integrated energy transition platform, HEG Greentech, focused on power assets, battery-grade anode materials, food-grade bottle-to-bottle recycling, graphene, and advanced battery systems manufacturing for energy storage & electric vehicles.

Stock Market LIVE Updates | MSTC receives a work order from Coal India

The company has received a work order from Coal India for engagement as an E-auction service provider for conducting e-auctions of coal and coal products of Coal India/coal companies for two years.

Sensex Today | BSE Telecom index up 1.5%; Bharti Airtel, Tata Communications top contributors

Stock Market LIVE Updates | Ashoka Buildcon bags a project worth Rs 312 crore

The company has received a Letter of Acceptance for a project worth Rs 312 crore from Maharashtra State Electricity Transmission Co.

Brokerage Call | Emkay Global Financial Services cut IndusInd Bank rating to 'add' from 'buy', target Rs 875

Trivesh D., COO Tradejini

The US stock market experienced a significant sell-off, with major indices like the S&P 500 declining by 2.7%—a drop of nearly 9% from its February 19, 2025 peak—losing almost 250 points in a single day. The Dow Jones Industrial Average also plummeted by 900 points as of March 10, 2025.

It is a drop which is driven by multiple factors, including trade policy uncertainties and fears of a potential recession. However, the primary concern has been the ongoing back-and-forth tariff announcements, which have unsettled investors and further dampened market sentiment. Concerns about a possible economic slowdown—or even a recession—have added to the turmoil, with the technology sector being the most affected.

Furthermore, with U.S. President Trump firm on imposing reciprocal tariffs starting in April, volatility is expected to remain elevated despite near-term risks.

Sensex Today | Sun Pharma as ICICI Securities upgrades to Buy

Sensex Today | Intellect Design partners with across America Insurance Services to provide analysis solutions

Stock Market LIVE Updates | IT, banking stocks lead losses on the Nifty

Markets@1 | Nifty hovers near 22,450, Sensex down 280 points

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Stock Market LIVE Updates | Top gainers on the Nifty 500 index

Sensex Today | Persistent Systems stock gains as CLSA bullish on Indian IT, with a focus on Persistent Systems

Sensex Today | Raymond shares fall as promoter created pledge on 1% equity

Stock Market LIVE Updates | Stocks rebound from day's low

Sensex Today| Intellect Design partners with across America Insurance Services to provide analysis solutions

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Sensex Today| Allcargo Gati Feb volume at 95000 tons vs 1 lakh tons YoY

Sensex Today| Hindustan Zinc and Serentica Renewables strengthen partnership

#1 Hindustan Zinc: Serentica to provide up to 530mw renewable power

Sensex Today| Sterling & Wilson names Ajit Pratap Singh as CFO from March 24

Sensex Today| CG Power to consider interim dividend for FY25 on March 18

Sensex Today| Sun Pharma to acquire Nasdaq-listed Checkpoint Therapeutics for $355 million

Sensex Today| Centum Electronics shares rally 11% as firm starts QIP

The firm set the floor price at Rs 1219.65 a share for QIP

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Sensex Today| Persistent Systems recovers from lows as CLSA upgrades to high conviction outperform

Sensex Today| Supreme Industries to buy Orbia Wavin's pipes business in India

Sensex Today| Tata Communications advances 6%, most in 20 months

Sensex Today| IIFL capital gets administrative warning letter from SEBI

IIFL Capital: SEBI inspection on merchant banking debt issues

Sensex Today| Samvardhana Motherson has 3.53 mln shares traded in a block

Sensex Today| Pasupati Acrylon completes setting up grain based ethanol plant

Sensex Today| ICICI Prudential Fund sold 2.15% stake in Cartrade Tech

Stock Market LIVE Updates | Indian Railway Finance Corporation board meeting on March 17

The Board members will be meeting on March 17 to consider the second interim dividend for the financial year 2024-25.

Stock Market LIVE Updates | Adani Group stocks trade mixed; Adani Total Gas down, Adani Enterprises gains

Stock Market LIVE Updates | Aditya Birla Capital invest Rs 300 crore on a rights basis in subsidiary

The company has made an investment of Rs 300 crore on a rights basis in its subsidiary, Aditya Birla Housing Finance. Post this investment, there is no change in the percentage shareholding of Aditya Birla Capital, and Aditya Birla Housing Finance continues to be a wholly owned subsidiary of the company.