Indian Benchmarks Set for Highest Weekly Gains as Foreign Inflows Return

Overall, market breadth remained strong, as 2,113 stocks advanced while 618 declined.

Market Update at 12:30 PM: India's benchmark indices climbed on Friday, recovering from a muted opening as investors found value in large-cap stocks. The gains were further supported by renewed optimism amid indications of easing foreign outflows. 

Consequently, by midday, the Nifty 50 had jumped over 150 points from its previous close, trading above the 23,300 mark with gains of 0.73 per cent. Similarly, the Sensex traded at day’s high. The Nifty Bank was aligned with the frontline indices, rising by 0.73 per cent. Meanwhile, the India VIX was trading near the 12.5 mark, up by 0.67 per cent.

By midday, the top contributors to market gains were ICICI Bank (+30.93 pts), Larsen & Toubro (+18.13 pts) and Bajaj Finance (+17.65 pts). On the other hand, Infosys (-18.44 pts) and HDFC Bank (-4.4 pts) were trading in negative territory.

On Friday, the Nifty 50 displayed a positive market breadth, with 40 stocks advancing and 10 declining. Overall, market breadth remained strong, as 2,113 stocks advanced while 618 declined. Both the Nifty Mid-Cap 100 and Nifty Small-Cap 100 indices gained 1.22 per cent and 1.7 per cent, respectively.

Among the sectoral indices, most indices are trading in the green by the midday session, with Nifty Media (+1.69 per cent) and Nifty Realty(+1.44 per cent) leading the gains and emerging as the top-performing sectors. On the other hand, the Nifty Consumer Durable Nifty Metal were trading in red.

As of 11:05 AM: Indian benchmark indices edged higher on Friday, recovering from an early decline, as Large-Cap stocks attracted buyers and foreign selling showed signs of easing.

By 11:02 a.m., the NSE Nifty 50 was up 0.68 per cent at 23,350, while the BSE Sensex gained 0.52 per cent to 76,802. Both indices initially dipped about 0.2 per cent at the open before reversing losses.

The Nifty extended its winning streak to four consecutive sessions, marking its longest run in nearly seven weeks.

A slowdown in foreign outflows has supported market sentiment. Provisional data suggests that foreign portfolio investors (FPIs), who had been consistent sellers since late last year, turned buyers in two of the last four sessions.

As of 10:12 AM: The Nifty 50 index has moved above the 23,250 mark and is trading higher by 71 points or 0.30 per cent, keeping pace with the Nifty 50, the Sensex has also rallied by 0.27 per cent to 76,551. The India VIX has touched a fresh 5-month low and is currently trading below the 12.5 mark.

The Nifty Bank has crossed above the previous session’s high of 50,155 and is trading near the day’s high, up by 160 points or 0.31 per cent.

Interestingly, the Nifty 50 has gained about 3.91 per cent on a week-to-date (WTD) basis, marking its strongest weekly performance since July 2022. As a result, it is on the verge of recording its sharpest weekly gains in over two years.

All sectoral indices are trading in the green, led by Nifty Realty and Nifty Media.

Market breadth remains strong amid broad-based buying, with the Nifty Smallcap 100 index trading higher by 1.43 per cent. It is up nearly 8 per cent this week, on track for its highest weekly gain since June 2020.

Pre-Market Update at 7:45 AM: Sensex and Nifty 50 are likely to open on a flat note, reflecting mixed global market trends. Asian markets showed a mixed performance, while US equities closed lower as investors assessed key economic data.

Gift Nifty was hovering near 23,247, reflecting a premium of approximately 47 points over the previous close of Nifty futures, signalling a flat-to-positive start for the Indian stock market indices.

The US stock market closed slightly lower on Thursday as investors assessed the latest economic data. The Dow Jones Industrial Average slipped 11.31 points, or 0.03 per cent, to 41,953.32, while the S&P 500 declined 12.40 points, or 0.22 per cent, to 5,662.89. The Nasdaq Composite ended 59.16 points, or 0.33 per cent, lower at 17,691.63.

The Bank of England decided to maintain interest rates at 4.5 per cent, with an 8-1 vote among policymakers, cautioning investors against expecting rapid rate cuts.

In the US, weekly jobless claims saw a minor uptick, with 223,000 new applications for unemployment benefits recorded for the week ending March 15, slightly below the 224,000 estimate from economists.

Accenture reported a 5 per cent year-on-year revenue growth to USD 16.7 billion for the December-February period, within its projected range. It revised its full-year revenue growth outlook to 5-7 per cent in local currency. For Q2 FY25, revenue rose to USD 16.66 billion, with a gross margin decline to 29.9 per cent from 30.9 per cent last year. The company expects Q3 revenue between USD 16.9 billion and USD 17.5 billion.

Meanwhile, Japan’s core inflation stood at 3.0 per cent in February, with an index excluding fuel costs rising at its fastest pace in nearly a year. The core consumer price index, which excludes fresh food costs, aligned closely with the 2.9 per cent median market forecast but reflected a slowdown from January’s 3.2 per cent increase. Additionally, a separate index stripping out both fresh food and fuel costs rose 2.6 per cent year-on-year, following a 2.5 per cent rise in January.

Asian markets showed a mixed trend on Friday, as weakness from Wall Street’s overnight decline impacted investor sentiment. Japan’s Nikkei 225 advanced 0.34 per cent, while the Topix edged up 0.27 per cent. In contrast, South Korea’s Kospi slipped 0.16 per cent, and the Kosdaq dropped 0.86 per cent. Meanwhile, Hong Kong’s Hang Seng index futures signalled a subdued start.

Crude oil prices hold steady as fuel drawdown counters the strong dollar. Brent crude climbed 0.02 per cent to USD 72.26 per barrel, while US West Texas Intermediate (WTI) crude futures edged up 0.29 per cent to USD 68.30.

The dollar index was trading at 103.47, while USD/INR was trading at 86.26.

The Indian stock market continued its upward momentum for the fourth straight session on Thursday, driven by broad-based buying across sectors. The Sensex climbed 899.01 points, or 1.19 per cent, to settle at 76,348.06, while the Nifty 50 advanced 283.05 points, or 1.24 per cent, to close at 23,190.65.

On March 20, 2025, foreign institutional investors (FII) bought shares worth Rs 3,239.14 crore, while domestic institutional investors (DII) sold shares worth Rs 3,136.02 crore.

Stocks that are banned for trading in the F&O segment on March 21, 2025, are Manappuram Finance Ltd, Indusind Bank Ltd, Polycab India Ltd, Hindustan Copper Ltd, Steel Authority of India Ltd etc.

Disclaimer: The article is for informational purposes only and not investment advice.