Closing Bell: Market makes it 3 in a row; Nifty above 22,900, Sensex up 148 points

Market Close | Nifty above 22900, Sensex up 148 points

Indian benchmark indices ended higher on March 19 with Nifty above 22,900. At close, the Sensex was up 147.79 points or 0.20 percent at 75,449.05, and the Nifty was up 73.30 points or 0.32 percent at 22,907.60.

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.

Ajit Mishra – SVP, Research, Religare Broking

Markets extended their recovery, ending slightly higher, building on Tuesday’s surge. After a flat start, Nifty gradually moved up throughout the session, though profit booking in the final hour trimmed some gains. As a result, Nifty closed at 22,907.60, up 0.3%. Sectoral trends remained mixed, with realty and energy leading the gains, while IT and FMCG lagged. Meanwhile, strong performance from broader indices further lifted sentiment.

Following the recent surge, markets will react to the US Fed meeting outcome in early Thursday trades, with attention then shifting to the weekly expiry. While some consolidation is possible, the overall sentiment is likely to remain positive, favoring a "buy on dips" approach. We are witnessing rotational participation across key sectors, with banking, financials, metals, and energy taking the lead. Traders should position themselves accordingly and remain selective in the broader market.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing an excellent upside breakout on Tuesday, Nifty continued with follow-through upside momentum on Wednesday and closed the day higher by 73 points. After opening with a positive note, the market shifted into a gradual upmove amidst range bound movement in the early to mid-part of the session. There was a minor intraday consolidation movement at the highs towards the end and Nifty closed near the highs.

A small positive candle was formed on the daily chart which indicates a breather type market movement after a stellar performance in the previous session. Though, Nifty showed minor upmove on Wednesday, the overall market breadth was very strong with outperformance seen in broad market indices.

Nifty is currently nearing a crucial overhead resistance of around 23000-23100 levels (down sloping trend line connected from the highs of Sept and Dec 24). This is going to be an important hurdle for the market and there is a possibility of some more consolidation or minor dip from the highs in the next 1-2 sessions. Immediate support is placed around 22800-22750 levels.

Except IT, FMCG, all other sectoral indices ended in the green with Consumer Durables, Capital Goods, Realty, Oil & Gas, Media, Metal, Power, PSU Bank up 1-2.8 percent....Read More

Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices continued their positive momentum, with the Nifty ends 73 points higher and the Sensex rising by 148 points. Among sectors, the Defence index outperformed, rallying nearly 5 percent, while the IT index lost the most, shedding over 1 percent.

Technically, after a promising uptrend rally, the market is witnessing range-bound intraday activity at higher levels. It also formed a small bullish candle on daily charts, indicating indecisiveness between the bulls and the bears.

We are of the view that the short-term texture of the market is still on the positive side, but due to temporary overbought conditions, we could see range-bound activity in the near future. For day traders, the key support zones are 22800-22720/75200-75000, while 23000-23100/78800-76000 could act as crucial resistance areas for the bulls. A fall below 22720/75000 would make the uptrend vulnerable.

Vaibhav Vidwani, Research Analyst at Bonanza

Today, the Indian stock market concluded on a positive note, marking its third consecutive day of gains. The BSE Sensex rose by approximately 147 points to close at a level slightly above its opening, while the NSE Nifty ended at 22,907.

The market's upward momentum was driven by sectors such as Financials and Realty, although IT stocks underperformed. The Indian rupee, which had been strengthening, opened lower at 86.64 against the US dollar but remained stable throughout the day. However, investors remain cautious ahead of key global economic events, including interest rate decisions by the Bank of Japan and the US Federal Reserve. Overall, the Indian stock market's resilience reflects a mix of domestic and international factors, with investors closely watching geopolitical developments for future cues.

Vinod Nair, Head of Research, Geojit Financial Services

The domestic market continued its positive momentum, as part of the recent correction was justified by valuation. The sustainability of the relief rally depends on a revival in fundamentals. The recovery was broad-based, while metal stocks gained attention after the government decided to impose a tax on steel imports. In light of trade uncertainties and growth concerns, today's FED policy and the commentary will be keenly watched by investors to get cues on interest rates.

Dilip Parmar, Research Analyst, HDFC Securities

The Indian rupee experienced its longest winning streak since September 2024, appreciating for the sixth consecutive day. This rally was fueled by an influx of foreign capital after a period of sustained selling in domestic equities, alongside positive market sentiment supported by strong high-frequency data.

The near-term outlook is expected to remain favourable for the rupee. The support level for Spot USDINR has shifted to 86.17 from 86.42, with resistance at 86.90.

Desco Infratech IPO | The Gujarat-based firm aims to raise Rs 30.75 crore via initial share sale at the upper price band....Read More

Aditya Gaggar Director of Progressive Shares

After a strong breakout in the previous session, the Bulls capitalized on the momentum, driving the Index higher throughout the day and settling the trade at 22,907.60 with gains of 73.30 points. Excluding FMCG and IT, all other sectors ended in the green, with Realty and PSU Banking leading the charge. The Broader markets remarkably outperformed the Frontline Index, as Mid and Small-caps surged by 2.63% & 2.43% respectively.

The Index is approaching the 23,000 level, where the 50DMA aligns, creating a strong resistance. A short-term reversal is expected from this point as the market has entered an overbought territory after a sharp climb over the past two trading days. On the downside, the immediate support level is seen at 22,800.

Currency Check | Rupee closes 12 paise higher

Indian rupee ended 12 paise higher at 86.44 per dollar on Wednesday versus Tuesday's close of 86.56.

Market Close | Nifty above 22,900, Sensex gains 148 pts; FMCG, IT underperform

Indian benchmark indices ended higher on March 19 with Nifty above 22,900.

At close, the Sensex was up 147.79 points or 0.20 percent at 75,449.05, and the Nifty was up 73.30 points or 0.32 percent at 22,907.60. About 2894 shares advanced, 988 shares declined, and 110 shares unchanged.

Shriram Finance, HDFC Life, Apollo Hospitals, Tata Steel, Power Grid Corp were among top gainers on the Nifty, while losers were Tech Mahindra, TCS, ITC, Infosys, Britannia Industries.

BSE Midcap and smallcap indices rose more than 2 percent each.

Except IT, FMCG, all other sectoral indices ended in the green with Consumer Durables, Capital Goods, Realty, Oil & Gas, Media, Metal, Power, PSU Bank up 1-2.8 percent.

Sensex Today | 1.97 million shares of Reliance Industries traded in a block: Bloomberg

Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan

Indian Rupee gained for the fourth consecutive session today on strong domestic equities and weak US Dollar. Overnight decline in crude oil prices and FII inflows also favoured the Rupee. US Dollar declined on Wednesday on a strong Euro which strengthened as Germany voted to boost defence and infrastructure spending. However, economic data from the US were better than forecast. Bank of Japan kept its monetary policy unchanged, in line with expectations.

We expect Rupee to trade with a positive bias on positive domestic markets and fresh FII inflows. Extended fall in crude oil prices and weakness in the greenback may also support the Rupee. Investors may remain cautious ahead of FOMC meeting. Fed is expected to leave the interest rates unchanged. USDINR spot price is expected to trade in a range of Rs 86.20 to Rs 86.80.

Sensex Today | Bajaj Electricals to incorporate a wholly-owned subsidiary in United Arab Emirates

The Board approved a proposal to explore the possibilities, opportunities, feasibility of setting up the Company's Manufacturing Unit at a suitable location in India, keeping an estimated Capex of Rs 300 crore in consideration.

The shares of small cap stocks also saw significant rise on March 19, with the Nifty Smallcap index jumping over 2 percent to trade at around 15,733...Read More

Sensex Today | 1.47 million shares of ITC traded in a block: Bloomberg

Brokerage Call | HSBC maintains 'reduce' call on Power Grid, target price cut to Rs 250

Sensex Today | Realty index up 3%, FMCG, IT drag

Sensex Today | Proposal for waiver of AGR penalties & interest no longer being considered

Brokerage Call | CLSA prefers non-ferrous metals

#1 Improved outlook for metals demand with China stimulus and European growth

#2 Safeguard duty benefits for domestic steel mills

#3 Target price raised for JSW Steel & Tata Steel

IPO Check | Physicswallah files paper for India IPO

Sensex Today | BSE Consumer Durables index rises on third day

Currency Check | Rupee marginally higher

Indian rupee is trading marginally higher at 86.51 per dollar on Wednesday versus Tuesday's close of 86.56.

Shrikant Chouhan, Head Equity Research, Kotak Securities

Domestic flat steel prices have increased 5% in the last month against the weakness in regional prices. The divergent move is led by the widely anticipated safeguard duty, which could come in at 12% (DGTR has recommended the imposition of a 12% provisional safeguard duty for 200 days).

Domestic prices are at a 7-8% premium to import parity, leaving little room for further hikes in the former case. In the past few weeks, Vietnam, South Korea, Europe and the US have imposed/increased tariff barriers against steel imports, whereas investigations are ongoing in a couple of countries, including India.

Steel margins have bottomed out in 3QFY25, and we expect a recovery in 4QFY25, with price hikes and muted costs. However, further expansion is dependent on trade measures and supply-side reforms by China. We find better risk-reward in non-integrated steel producers such as JSPL/JSTL, and remain SELL on integrated producers such as SAIL, TATA and NMDC.

Stock Market LIVE Updates | Vodafone Idea shares gain most in two months

Sensex Today | Nifty Realty index up 3%

Stock Market LIVE Update | Call volume on Indigo at an eight-week high

Indigo stocks surged at a record level of over 5 percent, after the airline presented its forecast on seat capacity and passenger frequency growth - expecting it in "early double digits".

• 116.9k calls changed hands (compared with 22.7k contracts for the 20-day average and 46.9k put)

Stock Market LIVE Updates: Tata Steel 1 Million shares traded in a block

The shares of Tata Steel are trading at a gain of over 2 percent.

Markets@2 | Sensex up 160 pts, Nifty at 22900

The Sensex was up 162.88 points or 0.22 percent at 75,464.14, and the Nifty was up 75.65 points or 0.33 percent at 22,909.95. About 2747 shares advanced, 854 shares declined, and 95 shares unchanged.

Global Markets | European Markets trade lower; DAX down 0.5%

Sensex Today | BSE Capital Goods index up 2%; extend gains on 3rd day

Global Markets | Asian Markets end mixed; Nikkei down, Straits Times gains

Sensex Today | Anjani Portland Cement compensates volume lost from Bhavya Cements

Anjani Portland Cement informed that due to a recent reduction in transport freight costs and the prevailing local conditions in and around Bhavya Cements Private Limited, Subsidiary of the Company, including village and road conditions, the transporters are unwilling to operate in the area and move cement. As a result, there have been no dispatches from Bhavya Cements Private Limited plant for around 25 days.

The management is actively exploring all possible measures to resume operations at the earliest. In the meantime, most of the volume lost from Bhavya Cements Private Limited has been compensated by the Company through increased dispatches from its plant, as both the companies operate in a few common markets.

Stock Market LIVE Updates | Steel Exchange India shares gain on capacity expansion

Sensex Today | NBCC sells 1,046 residential units at Aspire Centurian Park, Noida for Rs 2,353 crore

NBCC (India) has successfully sold 1,046 residential units at Aspire Centurian Park, Greater Noida (W), U.P through an e-auction at total sale value of approximately Rs 2,353 crore

Sensex Today | HDFC Life Insurance shares gain most in 2 months

Stock Market LIVE Updates | TCS signs five-year partnership with Air New Zealand to modernize airline’s digital infra

Brokerage Call | Nuvama keeps 'buy' rating on Pidilite Industries, target price Rs 3,660

#1 Focus on expanding tile adhesives & waterproofing

#2 Targeting emerging markets like Africa & Saudi Arabia

Stock Market LIVE Updates | USFDA closes inspection at Aurobindo Pharma unit in Telangana

The US Food and Drug Administration (US FDA) had conducted an inspection at the Unit-V, an API manufacturing facility, of Apitoria Pharma, a wholly owned subsidiary of Aurobindo Pharma, situated at Pashamylaram Village, Patancheru Mandal, Sanga Reddy District, Telangana from December 09 to December 17, 2024. The Unit has now received Establishment Inspection Report classifying the facility as "Voluntary Action Indicated".

Axis Securities predicted a bullish outlook for Nifty Bank, as well as the benchmark Nifty 50 index....Read More

Sensex Today | DGTR proposes 12% safeguard duty

DGTR recommends 12% safeguard duty on non-alloy & alloy steel flat products for 200 days.

Sensex Today | 4.81 million shares of NTPC traded in another block: Bloomberg

Sensex Today | India Volatility index rises 1.2%

Stock Market LIVE Updates | Mishra Dhatu Nigam share price rises 7% ahead of board meeting

A meeting of the board of directors of the company has been rescheduled to be held on Wednesday, the 191h March, 2025 to consider a proposal relating to declaration of Interim Dividend for FY2024-25.

Brokerage Call | JM Financial initiates 'buy' on Tata Communications, target Rs 2030

Markets@1 | Sensex up 200 pts, Nifty at 22900

The Sensex was up 201.25 points or 0.27 percent at 75,502.51, and the Nifty was up 86.75 points or 0.38 percent at 22,921.05. About 2794 shares advanced, 767 shares declined, and 92 shares unchanged.

Sensex Today | BSE IT index down 1.5%; breaks 2-day gaining streak

Mitsubishi UFJ Fin Group sells 2% stake in company on March 17, says Indiamart Intermesh