Sensex and Nifty Closing Updates, March 11, 2025: Sensex and Nifty both trading lower

Market Close

The Sensex settled marginally lower, and the Nifty closed below the 22,500 mark. Despite the initial downturn, the markets recovered from their early lows by the afternoon, with the Sensex trading slightly down and the Nifty managing to inch up. Ultimately, the Sensex closed at 74,102.32, down 0.02%, and the Nifty ended at 22,497.90, gaining 0.17%. On Tuesday, March 11, 2025, the benchmark equity indices, Sensex and Nifty, experienced a lower trading day, following a widespread sell-off in Asian markets which was triggered by overnight drops on Wall Street due to recession concerns in the U.S. Selling pressure was evident across all sectors initially.

IndusInd Bank's Significant Crash

IndusInd Bank shares experienced a substantial crash, sinking by 20% to a 52-week low. This decline was attributed to the lender's internal review, which estimated an adverse impact of approximately 2.35% on its net worth as of December 2024, due to discrepancies related to multi-year derivative transactions. The stock even saw a block deal of 15.8 lakh shares change hands. The crash in IndusInd Bank's stock weighed heavily on the banking index, pulling it down by 350 points. Mutual funds held a significant amount of IndusInd Bank shares, with ICICI Prudential MF having the highest exposure. Nuvama downgraded the rating of IndusInd Bank to "Reduce" from "Hold" and cut its target price. The stock witnessed its biggest single-day fall since March 2020

Global Market Influences

Global stock markets faced a sell-off, intensifying concerns about tariffs and potential government spending cuts hindering growth in the world's largest economy . This followed U.S. President Donald Trump's refusal to predict a recession amid anxieties over his tariff policies. Wall Street experienced a significant rout, with the US markets losing $4 trillion in value, erasing post-election gains. The Nasdaq saw its steepest fall since September 2022, and the S&P 500 marked its worst drop of the year. Asian markets, including Japan's Nikkei, Australia's S&P/ASX 200, and Hong Kong's Hang Seng, also traded lower. However, some Asian markets, like China and Hong Kong, saw limited losses due to an improving outlook around artificial intelligence. European shares were mostly flat after the previous session's sell-off.

Sectoral Performance

Despite the overall market weakness, some sectors showed positive movement. Realty, oil & gas stocks, and telecom stocks shone during the trading session. Nifty oil & gas stocks were trading in the green. Conversely, the Nifty IT index fell by 1.5% as tech stocks faced pressure, with Infosys and Wipro being among the major laggards.

Rupee's Movement and RBI Intervention

The Indian rupee initially declined but later gained, closing up by 0.1% at 87.21/USD. This recovery was aided by likely intervention from the Reserve Bank of India (RBI) and a weaker US dollar. Earlier, the rupee had fallen to 87.38 against the US dollar.

Midday Latest Update:

• The Sensex is trading at approximately 74,488 levels, reflecting a modest gain of around 0.20%.
• The Nifty 50 is hovering near 22,602, showing a slight increase of around 0.26%.

The market's mixed performance reflects sectoral volatility and global cues influencing investor sentiment today.

Top Gainers 

1. Sun Pharma: Opened at ₹1,616.10 and closed at ₹1,657.70, up by +2.87%.
2. BEL (Bharat Electronics Limited): Opened at ₹271.95 and closed at ₹276.87, up by +2.23%.
3. BPCL (Bharat Petroleum Corporation Limited): Opened at ₹255.99 and closed at ₹262.40, up by +2.13%.
4. Trent: Opened at ₹4,739.70 and closed at ₹4,892.95, up by +1.94%.
5. ICICI Bank: Opened at ₹1,217.20 and closed at ₹1,238.20, up by +1.92%.
6. Adani Enterprises: Opened at ₹2,223.15 and closed at ₹2,262.40, up by +1.53%.
7. Bharti Airtel: Opened at ₹1,630 and closed at ₹1,652.25, up by +1.37%.
8. Shriram Finance: Opened at ₹624 and closed at ₹632.75, up by +1.14%.
9. NTPC: Opened at ₹327 and closed at ₹333, up by +1%.
10. HDFC Life Insurance: Opened at ₹623 and closed at ₹632.25, up by +1%.

Top Losers

1. IndusInd Bank: Opened at ₹810.45 and closed at ₹693.30, down by -23.01%.
2. Infosys: Opened at ₹1,680.00 and closed at ₹1,651.45, down by -2.94%.
3. Wipro: Opened at ₹277.00 and closed at ₹275.05, down by -2.08%.
4. Bajaj Finserv: Opened at ₹1,830.00 and closed at ₹1,802.35, down by -2.06%.
5. M&M (Mahindra & Mahindra): Opened at ₹2,684.75 and closed at ₹2,653.20, down by -1.80%.
6. Tech Mahindra: Opened at ₹1,464.50 and closed at ₹1,460.80, down by -1.75%.
7. Power Grid: Opened at ₹270.00 and closed at ₹268.10, down by -0.70%.
8. Apollo Hospitals: Opened at ₹6,130.00 and closed at ₹6,080.10, down by -1.12%.
9. Axis Bank: Opened at ₹1,030.40 and closed at ₹1,026.55, down by -0.92%.
10. TCS (Tata Consultancy Services): Opened at ₹3,558.00 and closed at ₹3,562.10, down by -0.77%.

Market Open

Equity benchmark indices posted significant losses in Tuesday morning's trading, mirroring subdued signals from global markets. The BSE Sensex opened 371 points lower at 73,744, touching a low of 73,668. By 9:25 AM, it had fallen by 353 points (0.5%) to 73,746. Similarly, the NSE Nifty 50 reached a low of 22,315 and was down 104 points (0.5%) at 22,354. Additionally, the broader market saw the BSE MidCap index decline by 0.5%, while the SmallCap index dropped 1.5%.

Factors Influencing Market Sentiment

• Tariff Impact on Markets: President Trump's tariff policies have sparked significant market instability, triggering a $4 trillion decline in market value. Over the past month, the S&P 500 has dropped more than $4 trillion, with Monday experiencing its steepest fall of 2.7% this year. The Nasdaq was hit even harder, falling 4%—its largest decline since September 2022. Heightened trade tensions with China, Canada, and Mexico have further unsettled investors, with the S&P 500 now down 8.6% from its February peak and nearing a 10% correction, while the Nasdaq has already fallen beyond that threshold since December.
• JP Morgan’s Growth Concerns: Analysts at JPMorgan Chase caution that a slowdown in the US economy could markedly increase the risk of a global recession this year. They attribute this risk in part to what they term "extreme U.S. policies" and now estimate a 40% probability of a recession.
• Dollar Index Update: The US dollar traded mostly flat overnight. While it made slight gains against the Australian dollar and the British pound, these were offset by losses against the Japanese yen, which saw the dollar drop to a multi-month low. The greenback also weakened a bit against the Swiss franc, reaching levels last observed in early December.

Global Backdrop:

• US Dollar: The US Dollar Index (DXY), which compares the dollar against six major currencies, dropped 0.10% to 103.74 on Tuesday morning. Additionally, the rupee depreciated 0.52%, closing at 87.33 to the dollar on March 11.
• Crude Oil: Crude oil prices were slightly higher on Tuesday morning, with WTI trading at $66.07 (up 0.06%) and Brent at $69.37 (up 0.13%).
• Gold: Today’s 24-carat gold is Rs 85,730 per 10 grams, having fallen 0.66% over the past week but risen 0.8% over the past month; 22 kt gold is Rs 78,586 per 10 grams; and 18-carat gold is Rs 64,298.

Stocks in Focus:

• IndusInd Bank: Reported a 2.35% post-tax net worth decline (≈₹1,530 crore) in Q3FY25 from markdowns on internal derivatives—exceeding its Q3 net profit of ₹1,401.3 crore.
• Gensol Engineering: Promoters will inject ₹28.99 crore by converting warrants into equity, resulting in the issuance of 4,43,934 shares at ₹871 each.
• Syngene International: Acquired its first USA biologics facility via its subsidiary Syngene USA Inc. from Emergent Manufacturing Operations Baltimore, LLC, expanding bioreactor capacity to 50,000L.
• Bharat Electronics Ltd (BEL): Secured additional orders worth ₹843 crore since March 6, 2025, raising its FY25 total order inflow to ₹14,567 crore.
• Firstsource Solutions: Revised its FY25 constant-currency revenue growth guidance to 21.8%–22.3%, up from the earlier 19.5%–20.5%.
• NTPC: Along with its subsidiary NTPC Green Energy Ltd, signed multiple agreements with the Chhattisgarh government, committing ₹96,000 crore to various energy projects, including nuclear, pump hydro, and renewables.
• Adani Energy Solutions Ltd: Removed from Fitch Ratings' 'Ratings Watch Negative' list, with long-term foreign and local-currency ratings affirmed at BBB- and a Negative Outlook.
• Anupam Rasayan India: Entered a 10-year letter of intent valued at $106 million (≈₹922 crore) with a Korean multinational for the supply of a specialty chemical.
• Navin Fluorine: The expanded Surat unit for manufacturing HFC (R32) has commenced commercial operations. Additionally, Thermax Chemical Solutions, a Thermax subsidiary, signed an agreement with Brazil-based OCQ for manufacturing and trading specialty chemicals.

Disclaimer: This is not a recommendation to buy or sell a stock. 

To read the RA disclaimer, please click here