Closing Bell: Market fails to hold gains, ends flat; IT stocks outperform

Indian equity indices ended flat in the volatile session on March 25. At close, the Sensex was up 32.81 points or 0.04 percent at 78,017.19, and the Nifty was up 10.30 points or 0.04 percent at 23,668.65.

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The markets paused after six consecutive sessions of gains, closing on a flat note. The sentiment was positive in the early trade, but profit booking in heavyweights across sectors erased all gains, leading to a range-bound session. As a result, the Nifty ended unchanged at 23,668.65. Most sectors, except IT, witnessed profit booking and closed in the red, with realty, energy, and metal being the top losers. The broader indices also slipped, losing between 1.2% and 1.8%.

A minor pullback after a strong rally is natural, and Nifty is expected to consolidate after testing its previous swing high around the 23,800 mark. On the downside, the index is likely to find support first around the key moving averages (100 DEMA & 200 DEMA) at 23,400 and next near 23,100.

Traders should maintain a "buy on dips" strategy with a focus on selective stock picking. We continue to favor the banking and financial sector while advising a selective approach in other segments.

Today, the Indian stock market experienced a mixed day on March 25, 2025, with the major indices closing on a relatively flat note after a volatile session. The BSE Sensex ended at 78,017.19, up by a marginal 32.81 points, while the Nifty 50 settled below the 23,700 mark. Despite the flat close, IT stocks continued to outperform, contributing positively to the market's overall sentiment. The NIFTY NEXT 50 index also experienced a decline of 1.47% during the day, closing at 62,703.75.

Overall, while the market's momentum has been building up, sustainability of the rally remains a concern amidst global economic uncertainties.

While markets were largely range-bound with a negative bias after an initial upsurge, benchmark Sensex finally closed above the crucial 78k mark with a modest gain amid buying in technology stocks. However, investors traded with caution ahead of F&O expiry, with selling seen in banking, realty, oil & gas and metal shares.

The Nifty faced resistance at the previous swing high, leading to a volatile session before closing slightly lower. On the downside, support is observed around 23,300, which is a congestion level, with the 100-EMA also placed near this level. As long as the Nifty remains above 23,300, we anticipate a consolidation phase within a broader range of 23,300 to 23,800.

Immediate support is placed at 23,600, and a decisive drop below this level could drive the index toward 23,300. On the upside, resistance is at 23,800, and a breakout above this level may resume the rally.

Today, the benchmark indices witnessed some profit booking at higher levels. The Nifty ends 10 points higher, while the Sensex was up by 33 points. Among sectors, the IT index was the top gainer, gained nearly 1 percent, whereas profit booking was observed in the Defence and PSU Bank indices, both of which shed nearly 2 percent. Technically, after an early morning intraday rally, the market witnessed profit booking at higher levels. On the daily charts, a shooting star kind of formation has formed, indicating potential weakness from the current levels.

We are of the view that after a promising uptrend rally, the market is currently experiencing some profit booking at higher levels. However, the short-term texture of the market remains positive. For day traders, 23,600/77700 would be the key support zone. Above this level, the market could retest the range of 23,850/78300 to 23,900/78500. On the flip side, a dismissal of 23,600/77700 could alter market sentiment. Below this level, the market could slip to 23,500 to 23,450/77300-77200.

After a six-day recovery rally, the broader market witnessed some profit booking, particularly in small and mid-cap stocks, where premium valuations still exist. On the other hand, the IT sector posted gains, driven by positive global cues stemming from expectations of softer tariffs and a recent correction in valuations. In the near-term, investor sentiment is expected to be cautious as they await clarity on trade policy between US-India. Meanwhile, attention is shifting towards the quarterly results, which is anticipated to shed light on the recovery in earnings growth. Favourable indicators, such as expected rate cuts and rupee movements, continue to support the market sentiment.

After a strong start, the Index attempted to break its previous swing high of 23,800 but faced a reversal. Profit-taking across the board weighed on the Index, causing it to settle the day with marginal gains of 10.30 points at 23,668.65. Excluding IT, all the other sectors ended in the red, with PSU Banking and Media being the worst performers. The broader market underperformed the Frontline Index, as both Mid and Smallcaps saw a correction of 1.06% & 1.56% respectively.

With a possible hidden bearish divergence, the Index has formed a bearish candlestick pattern near its previous high, signaling a potential trend reversal. The 23,800 level remains a key resistance point, while support is found at 23,400.

The Indian rupee halted its nine-day winning streak, reflecting a shift in market sentiment towards risk aversion. The increased demand for dollars from importers, coupled with the greenback's recovery against major currencies, weighed on the rupee.

In the coming days, we could see some bargain buying from market participants as the financial year-end approaches.

From a technical perspective, the USD/INR pair is supported at 85.40, with resistance at 86.25.

Indian rupee ended 13 paise lower at 85.76 per dollar on Tuesday versus Monday's close of 85.63.

Indian equity indices ended flat in the volatile session on March 25.

At close, the Sensex was up 32.81 points or 0.04 percent at 78,017.19, and the Nifty was up 10.30 points or 0.04 percent at 23,668.65. About 1019 shares advanced, 2868 shares declined, and 107 shares unchanged.

Except IT, all other sectoral indices ended in the red with auto, capital goods, consumer durables, metal, oil & gas, power, PSU bank, realty, telecom down 1-1.5 percent.

UltraTech Cement, Trent, Bajaj Finserv, Infosys, Grasim Industries were among major gainers on the Nifty, while losers were IndusInd Bank, Dr Reddy's Labs, Adani Enterprises, Coal India, Adani Ports.

BSE Midcap index shed 1 percent and Smallcap index was down 1.6 percent.

The company board approved establishment of an additional 1.6 GW Module manufacturing line at its unit situated at Brookshire, in the state of Texas, USA and setting up of additional module manufacturing lines with a Capacity of 3.2 GW at its plant in Chikhli, Dist: Navsari in the state of Gujarat.

#1 Stock down nearly 20 percent on US growth concerns

#2 FY26 CC revenue growth estimated at 4-6 percent, even with slower discretionary spend

#3 Limited PE de-rating risk due to strong FCF conversion & higher payouts

#4 Cut EPS by 2-4 percent on slower growth but reiterate buy on attractive risk-reward

The Sensex was up 73.71 points or 0.09 percent at 78,058.09, and the Nifty was up 34.40 points or 0.15 percent at 23,692.75. About 938 shares advanced, 2674 shares declined, and 84 shares unchanged.

Indian rupee is trading lower at 85.73 per dollar on Tuesday versus Monday's close of 85.63.

#1 Global wind energy leader with 20.9GW capacity across 17 countries

#2 India’s top wind energy service provider with 15 GW capacity

#3 Vertically integrated operations, including R&D & manufacturing

#4 Estimated EPS CAGR of 63 percent over FY24-27

The Sensex was up 169.85 points or 0.22 percent at 78,154.23, and the Nifty was up 70.70 points or 0.30 percent at 23,729.05. About 966 shares advanced, 2610 shares declined, and 88 shares unchanged.

Sarda Energy informed that the Power Plant unit which was under maintenance on account of fire incident has started power generation and has reached to full load capacity on 24th March 2025.

Vakrangee plans to expand its ATM network by deploying 3,000 new ATM Machines in FY2025-26. As part of this expansion, the company will be setting up UPI-based ATM machines, enabling simpler and completely cardless cash withdrawals.

The company has entered into Memorandum of Understanding with Ministry of Steel for availing the benefits/ incentives of the PLI scheme 1.1.

The real estate company has acquired a 4.4-acre land parcel in East Bengaluru for the development of a residential project with a total development potential of 0.6 million square feet and a gross development value of approximately Rs 950 crore.

The technology services and consulting company announced AI-driven autonomous agents for Agentforce to revolutionize experiences for patients, providers, payers, and healthcare companies while easing the heavy administrative burden across the healthcare industry.

T T Jagannathan has decided to step down as Non-Executive Chairman and Director of the company, effective March 24. T T Raghunathan will succeed T T Jagannathan as Non-Executive Chairman of the company, effective March 25. Currently, T T Raghunathan is the Vice-Chairman and Non-Executive Director of the company.

According to Sources, IndusInd Bank’s external auditor PwC may table its report before the bank’s board on Friday. The report to also deal with extent of impact, initially assessed at 2.35% of net worth of IndusInd Bank.

Sun Drops Energia, a subsidiary of KPI Green Energy, has been awarded Letters of Award for the development of solar power projects with a cumulative capacity of 13.80MW under our Captive Power Producer (CPP) business segment.

The Board has approved an investment of up to Rs 694 crore for establishing and operating a Tooling Centre in India.

Krystal Integrated Services has received a contract from SVC Co-Operative Bank Limited (Bank) for providing Security services at various offices and branches of the Bank located in India.

The Board has approved the appointment of Vellayan Subbiah as a Whole-time Director, designated as the Executive Chairman of the company for 5 years, effective April 1.

The Sensex was up 50.19 points or 0.06 percent at 78,034.57, and the Nifty was up 23.40 points or 0.10 percent at 23,681.75. About 931 shares advanced, 2620 shares declined, and 80 shares unchanged.

The shares of online food delivery platforms Zomato and Swiggy recorded strong losses of 2 percent and 4 percent respectively on March 25, after international brokerage Macquarie said it remains cautious and prefers shares of Devyani International and Westlife Foodworld - both plays in the restaurant space - hoping a rising discretionary spend drives consumption recovery. Read More

The company's operations at its plant in Jhagadia, Gujarat have been partially affected due to a strike that commenced on March 24. The company is in continuous discussion with workers to resolve the situation amicably. At present, the impact of this event is being assessed, and the company is managing demand through available resources.

Shareholders have approved the reappointment of Sunil D’Souza as the Managing Director and Chief Executive Officer of the company for 5 years, effective April 4.

The Central Government has appointed S. K. Majumdar as Executive Director of the bank for three years. Currently, S. K. Majumdar is the Chief General Manager and GCFO of the bank.

The company has completed the trial run of Unit-2 (200 MW) of the Parbati-II HE project (4x200 MW) in Himachal Pradesh. The trial run of the remaining 3 units of the Parbati-II HE project is expected to be completed by March 31, 2025.

The Board has approved the appointment of Ramganesh Iyer as Chief Operating Officer of the company, effective April 10.

Effective March 24, ICICI Securities has become a wholly owned subsidiary of the bank and is deemed to have been delisted from the stock exchanges.

The Board will meet on March 27 to consider the declaration of an interim dividend, if any.

Chinese shares led losses in Asia, with regional markets struggling to build on the risk-on momentum driven by earlier bets of less expansive tariffs in April.

The Sensex was up 188.26 points or 0.24 percent at 78,172.64, and the Nifty was up 54.90 points or 0.23 percent at 23,713.25. About 940 shares advanced, 2555 shares declined, and 97 shares unchanged.

Rulka Electricals has announced new confirmed orders totalling Rs 12,36,28,856 across various projects. These orders include contracts for electrical works, firefighting systems, IT infrastructure, and CCTV installations across Maharashtra, Andhra Pradesh, Telangana, and Gujarat.

The National Company Law Tribunal, Ahmedabad, has sanctioned the scheme of amalgamation of Aditya Birla Finance with the parent company.

The Company has been awarded a Large* EPC Order by Madhya Pradesh Power Transmission Corporation Limited (MPPTCL).

The Sensex was up 152.48 points or 0.20 percent at 78,136.86, and the Nifty was up 43.10 points or 0.18 percent at 23,701.45. About 1103 shares advanced, 2308 shares declined, and 128 shares unchanged.

Kalpataru Projects International secured notification of awards / comfort letters of approximately Rs 2,366 crores.

The orders are in the Transmission and Distribution (T&D) business in India and overseas market and order in the Buildings and Factories (B&F) business in India.

The company has received an Income Tax Order from the Income Tax Department, demanding tax and interest of Rs 431 crore.

The CGST and Central Excise, Thane, has imposed a penalty of Rs 30.15 crore on the bank for various GST issues. The bank will explore filing an appeal against the order.

#1 Improved collection efficiency, lower overdue formation

#2 Possible disruption in the next quarter due to new guardrails

#3 Targeting higher secured assets & better tech/audit by FY27

#4 Tie-up with salesforce for faster loan origination

The board of directors fixed Friday, April 4, 2025 as the record date, for the purpose of ascertaining eligibility of equity shareholders entitled for receipt of final dividend of Rs 0.50 per equity share of face value of Rs 2 each for the financial year ended December 31, 2024.

L&T-Cloudfinit announced new strategic partnerships with three leading AI startups, including one based in Europe.

The collaborations will focus on groundbreaking developments in healthcare, life sciences, vertical AI, and conversational technologies in India and across the globe by harnessing cutting-edge AI models to transform key industries and drive digital innovation in multiple sectors.

The company has signed a contract with Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG, Germany, for the construction and delivery of the 7th and 8th multi-purpose vessels (MPV) of 7,500 DWT in Hamburg, Germany.

This contract aligns with the ‘Option Agreement’ signed between both parties for the procurement of four additional MPVs from GRSE. The shipyard will build a total of eight vessels (08) at an order value of 108 MUSD.

The company has opened its QIP issue on March 24, with a floor price of Rs 62.32 per share. According to CNBC-TV18, quoting sources, the base issue size is Rs 400 crore, which may increase up to Rs 500 crore.

The PSU bank has opened its QIP issue on March 24, with a floor price of Rs 36.07 per share.