Benchmark indices extend yesterday’s gains; Bulls keep the charge

About 2207 stocks were advancing as against 716 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 3:40 PM: The market saw notable volatility today, starting on a strong note but encountering resistance at higher levels, which led to a pullback into negative territory. However, as the session advanced, buying interest in heavyweight stocks drove a recovery, helping the Sensex to close higher by 0.83 per cent, concluding at 74,340.09 level, while Nifty also closed moderately higher by 0.34 per cent, concluding at 21,618.70. Barring the Realty sector, all others ended higher, with Metal and Energy leading the gains.

Indian indices showed strength, supported by positive global signals after Trump eased tariff measures on automakers from Canada and Mexico, alongside a declining dollar index. A pullback in crude oil prices, driven by slowing demand and additional economic stimulus from China, boosted sentiment in the energy and metals sectors.

Broader indices closed higher outperforming frontline indices with Nifty Mid-cap surging by 0.37 per cent, while Nifty Small-cap zoomed by 0.355 per cent.

Market volatility, as indicated by India VIX, has increased by 0.4 per cent, reflecting a decrease in market volatility compared to yesterday’s trading session.

Nifty Oil & Gas, Nifty Metal and Nifty Energy were among the top gainers, while only Nifty Realty closed in negative territory.

Asian Paints, BPCL and Coal India were among the top gainers while Tech Mahindra, Trent and BEL were among the top losing stocks from the Nifty 50.

About 2207 stocks were advancing as against 716 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session, the benchmark indices trade on a positive note with the Sensex surging by 0.17 per cent, whereas Nifty jumped by 0.78 per cent to its day high. Similarly, Nifty Midcap has climbed by 0.65 per cent, while Nifty Smallcap trades lower by 1.56 per cent

India VIX is currently trading marginally higher by 0.02 per cent, indicating a slight decrease in market volatility.

Nifty Metal, Nifty Oil & Gas and Nifty Energy are among the top gainers, while only Nifty IT index was the top loser.

Asian Paints, Hindalco and Coal India are among the top gainers while Tech Mahindra, Trent and HDFC Life are among the top losing stocks from the Nifty 50.

About 2288 stocks are advancing as against 520 stocks that are declining, thus indicating a slight negative sentiment in the broader market.

Market Update at 12:20 PM: The Indian equity benchmark indices opened on a stronger note on Thursday, but failed to sustain the level and witnessed a fall of over 1 per cent from intraday high. Indices managed to recover from the day’s low as the session progressed. By midday, the Nifty index had bounced back by over 150 points from its intraday low, trading at 22,416 with a modest increase of 0.36 per cent.  Likewise, the Sensex managed to pare its losses, moving above the 73,800 mark. However, the Nifty Bank index experienced a rise of 90 points, crossing above the 48,500 level. The India VIX index trading marginally down by 0.27 per cent, below the 14 mark.

Indian shares are seeing some relief after sharp falls over the last five months. The benchmark indexes, which logged their biggest daily rise in a month on Wednesday, gained as much as 0.8 per cent earlier in the session.

Among the Nifty index constituents, 31 stocks advanced, while 19 stocks declined. The index’s recovery was supported by contributors from Reliance Industries (+31.5 pts), Axis Bank (+15.37 pts), and Hindustan Unilever(+7.7 pts). On the other hand, HDFC Bank (-16.3 pts), Trent (-4.72 pts), and ITC (-4.97 pts) weighed down the index.

On the sectoral front, most indices traded in positive territory, led by gains in Nifty Metals and Nifty Oil & Gas. On the flipside, Nifty IT was the only decliner with a marginal drop. Broader markets displayed solid performance, with the Nifty Small-Cap 100 and Nifty Mid-Cap 100 indices up by 0.26 per cent and 1.14 per cent, respectively. 

The broader market indices outperformed the frontline indices, resulting in strong market breadth: 2,196 stocks advanced, while only 525 declined. 

Market Update at 10:10 AM: Indian benchmark indices opened on a strong note on Thursday, tracking gains in Asian markets and buoyed by U.S. President Donald Trump's temporary tariff reprieve on automobile imports from Mexico and Canada.

However, the equity indices could not hold the gains and slipped to negative territory.

At 10:00 AM, Sensex was down 75 points, or 0.11 per cent, at the 73,658 level, while Nifty also dropped by 22 points, 0.10 per cent. Similarly, Nifty Mid-cap traded higher by 250 points or  0.51 per cent, while Nifty Small-cap also held yesterday’s gains, surging by 140 points or 0.92 per cent.

India VIX has jumped to 13.84, up by 1.38 per cent, indicating a slight increase in market volatility.

Nifty Metal, Nifty Media and Nifty Oil & Gas are among the Top Gainers while Nifty Private Banks, Nifty Bank and Nifty PSU Bank are among the Top Losers.

Asian Paints, BPCL and Cipla are among the top gainers while Trent, Bharti Airtel and HDFC Life are among the top losing stocks from the Nifty 50.

About 2027 stocks are advancing as against 500 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 7:30 AM: The GIFT Nifty suggests a positive start for Indian benchmark indices, showing a gain of 35 points on 7.15 am. GIFT Nifty futures trades at 22,460 points after rebounding from a low of 21,964 points.

US stock market ended higher in choppy trading on Wednesday, as investors cheered the likely easing of trade tensions. The Dow Jones Industrial Average rallied 485.60 points, or 1.14 per cent, to 43,006.59, while the S&P 500 gained 64.48 points, or 1.12 per cent, to 5,842.63. The Nasdaq Composite closed 267.57 points, or 1.46 per cent, higher at 18,552.73.

US services sector growth unexpectedly picked up in February, with ISM Services PMI rising to 53.5 from 52.8, surpassing forecasts of 52.6, while input prices increased. In contrast, US private payrolls growth slowed sharply, adding only 77,000 jobs in February compared to 186,000 in January, missing estimates of 140,000. 

Meanwhile, US President Donald Trump announced a one-month exemption from 25 per cent auto tariffs on Canada and Mexico, conditional on compliance with existing free trade rules, and remains open to further exemptions. 

Asian markets traded higher on Thursday, tracking the overnight rally on Wall Street. Japan’s Nikkei 225 gained 0.15 per cent, while the Topix rose 1 per cent. Japan’s 10-year government bond yield jumped 6 basis points (bps) to 1.5 per cent, its highest level since June 2009 in early trade. South Korea’s Kospi rallied 0.71 per cent while the Kosdaq slipped 0.86 per cent. Hong Kong’s Hang Seng index futures indicated a higher opening.

In India, the RBI introduced liquidity measures to ease banking system constraints, including Rs 1 lakh crore government bond purchases via open market operations in two tranches on 12 and 18 March, along with a USD 10 billion USD/INR currency swap auction for 36 months on 24 March. These developments may influence market sentiment, with focus on liquidity support, US economic data, and trade policy updates.

India's services sector expanded at a quicker pace in February, with the seasonally adjusted HSBC India Services PMI Business Activity Index rising to 59.0 from January's 26-month low of 56.5, according to data from S&P Global released Wednesday.

Oil prices steadied after a four-session decline as the U.S. considered easing tariffs on Canadian crude, though concerns remain over Mexican tariffs and rising OPEC+ output. Brent rose 0.61 per cent to USD 69.72, while WTI gained 0.6 per cent to USD 66.71. Prices had fallen sharply due to U.S. trade measures and increased production quotas. Optimism grew as the U.S. exempted automakers from tariffs and may remove the 10 per cent tariff on Canadian energy imports. However, rising U.S. crude stockpiles, weaker demand, and reduced waterborne crude imports signal market bearishness. OPEC+ output hikes and ongoing trade tensions continue to weigh on sentiment.

The Dollar index in futures showed a 0.13 per cent decrease, reaching 104.08, while the value of one dollar dropped to Rs 86.88 as a broadly weaker greenback spurred gains in most Asian currencies, with investors fretting over a slowdown in the U.S. and how trade tariffs may impact the world's largest economy.

On March 05, 2025, foreign institutional investors (FII) sold shares worth Rs 2,895.04 crore, while domestic institutional investors (DII) bought shares worth Rs 3,370.60 crore.

Stocks that are banned for trading in the F&O segment on March 06, 2025, are Manappuram Finance only.

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