The benchmark Sensex and Nifty indices are likely to open on a positive note on March 26 as trends in GIFT Nifty indicate a higher start for the broader index with a gain of 50.50 points.
The equity benchmarks ended higher on March 22 and extended the winning run to a third straight session on buying across sectors, barring information technology.
At close, the Sensex was up 190.75 points, or 0.26 percent, at 72,831.94, and the Nifty was up 84.80 points, or 0.39 percent, at 22,096.80.
The pivot point calculator indicates that the Nifty 50 may face resistance at 22,124 followed by 22,237 and 22,351 levels. On the lower side, the index may take immediate support at 21,940 followed by 21,870 and 21,756.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms, which could impact Indian as well as international markets.
GIFT Nifty
Trends in the GIFT Nifty indicate a positive start for the broader index in India, with a gain of 50.50 points or 0.23 percent. The Nifty futures were trading around the 22,120 level.
Trade setup for today: Top 15 things to know before the opening bell
US Markets
US stocks lost ground at the start of a holiday-shortened week on Monday as investors positioned themselves ahead of inflation data.
The Dow Jones Industrial Average fell 162.26 points, or 0.41 percent, to 39,313.64, the S&P 500 lost 15.99 points, or 0.31 percent, to 5,218.19 and the Nasdaq Composite dropped 44.35 points, or 0.27 percent, to 16,384.47.
Asian Markets
Asian markets were trading higher with Kospi up 1.3 percent and Taian Weighted up 0.7 percent, while Nikkei was trading flat.
Bitcoin tops $70,000 again after slumping on US ETF outflows
Bitcoin enthusiasts appear to be shrugging off last week’s outflows from US exchange-traded funds, with the largest cryptocurrency climbing back above $70,000 again.
Most digital assets were higher Monday, with Bitcoin gaining as much as 7.1 percent to $70,816. That’s the first time the token has been above $70,000 in more than a week. Ether was up around 6 percent, while Solana and Dogecoin were both more than 4% higher.
Beige to sell up to 2.90% in Mankind Pharma via block deals
According to CNBC-TV18 Sources Beige Ltd is going to sell up to 2.90 percent stake in Mankind Pharma via block seals. Beige currently holds 2.99 percent stake in Mankind Pharma.
The offer price is in the range of Rs 2,103-2,214 per share, which is at a discount of 0-5 percent to CMP for Rs 2,460 crore.
ICICI Securities receives administrative warning from SEBI
The Securities and Exchange Board of India (SEBI) has issued an administrative warning to ICICI Securities after the inspection of books and records for the merchant banking activities of the company conducted in December 2023. There is no impact on financial, operation or other activities of the company due to administrative warning letter.
Dollar
The dollar was on the back foot on Tuesday, owing to profit taking and pressured in part by a slightly stronger yen as Japanese government officials continued with their jawboning to defend the currency.
Against the greenback, the New Zealand dollar rebounded from a four-month low and last bought $0.5999, and likewise for sterling which firmed to $1.2636, away from last week's one-month trough of $1.25755.
The dollar index was last 0.02 percent lower at 104.20, while the euro rose 0.03 percent to $1.0840.
Gold Prices
Gold prices rose on Monday, driven by expectations of interest rate cuts by the US Federal Reserve this year even as traders await inflation readings this week for confirmation on the timing of these reductions.
Spot gold gained 0.5 percent to $2,175.68 per ounce, while silver rose 0.2 percent to $24.71.
Crude
Oil prices rose more than 1 percent on Monday as hostilities intensified between Russia and Ukraine and in the Middle East. Brent crude futures climbed $1.05, or 1.2 percent, to $86.48 a barrel, while US crude futures gained $1.15, or 1.4 percent, to $81.78.
Both the benchmarks have risen steadily this year, with Brent up nearly 11 percent and WTI about 12.5 percent by Friday's close.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 3,309.76 crore, while domestic institutional investors (DIIs) bought Rs 3,764.87 crore worth of stocks on March 22, provisional data from the NSE showed.
Stock under F&O ban on NSE
The NSE has retained Biocon, SAIL, Tata Chemicals and Zee Entertainment Enterprises to the F&O ban list for March 26. Balrampur Chini Mills, Indus Towers, and Piramal Enterprises were removed from the said list.
With inputs from Reuters and other agencies
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