Sensex and Nifty Closing Updates March 12, 2025: Sensex and Nifty settled marginally lower

Market Close

At the closing bell on Wednesday, March 12, 2025, the Indian equity benchmark indices, Sensex and Nifty, settled marginally lower. The Sensex closed at 74, 029.76 down by 73 points or (-0.10%). The Nifty ended below the 22,500 mark at 22,470.50. This occurred as gains in certain stocks, particularly Reliance Industries and Bharti Airtel, were offset by losses in IT stocks.

Sectoral Performance

Ten of the 13 major sectors experienced gains during the day. The broader market, including small- and mid-cap stocks with a domestic focus, saw a rise of about 0.2% each. However, the Nifty IT index faced a significant fall of 4%. Conversely, the Nifty Metal index dropped over 1%.

Top Stock Movers

Among individual stocks, Wipro was down by 3% and Tata Motors was up by 3% at the closing bell. Earlier in the day, Infosys shares fell by 3% after Morgan Stanley downgraded the stock and cut its target price. Bharti Airtel shares jumped by 3% following the announcement of a deal with Elon Musk's SpaceX to bring Starlink's internet services to India. IndusInd Bank's shares gained 4% in a recovery after a sharp 27% fall on the previous day due to accounting irregularities.

Key Corporate News and Developments

Several company-specific news items influenced market movements. The government is reportedly planning to sell a 2-3% stake in LIC to meet the 10% public shareholding target by 2027. RailTel announced an interim dividend of ₹1 per share. Max Healthcare's board approved a proposal for a long-term service agreement with Bharat Prakritik Chikitsa Mission. Ola Electric reported the completion of its network transformation and opex reduction program, with its shares rising by 2%. CG Power received approval for a USD 36 million deal to acquire Renesas Electronics' RF components business . Glenmark Pharmaceuticals launched Empagliflozin under the brand name Glempa for diabetes management. Kaynes Tech's shares cracked 10% following a SEBI notice to its MD over alleged insider trading. Tata Motors' management reassured investors about Jaguar Land Rover (JLR) being on track to meet its FY25 EBIT targets, contributing to the stock's gain. Godrej Agrovet plans to acquire the remaining stake in Creamline Dairy.

Global Market Cues

Global markets presented a mixed picture. U.S. President Donald Trump initially pledged to double tariffs on Canadian steel and aluminum but reversed the decision within hours, causing volatility. S&P 500 futures and Nasdaq 100 futures both rose by 0.3-0.4%. The MSCI Asia Pacific Index saw a slight increase of 0.1%, with Japan’s Topix rising by 0.9% while Hong Kong’s Hang Seng fell by 0.4% and the Shanghai Composite remained relatively unchanged. In contrast, US stocks fell due to concerns about the impact of new tariff threats.

Mutual Fund Activity

Monthly SIP inflows into mutual funds experienced a slight decline of nearly 2% in February, reaching a three-month low of ₹ 25,999 crore. Overall net inflows into the mutual fund industry fell significantly by 79% in February, and equity mutual fund inflows also decreased by 26% to ₹ 29,303 crore amid a market downturn. Mutual funds had sold approximately 1.6 crore shares of IndusInd Bank in February before the stock's significant decline.

Forex and Commodity Markets

The rupee fell by 7 paise to ₹ 87.28 against the US dollar. Oil prices edged up, supported by a weaker dollar, but gains were capped by concerns over a potential U.S. economic slowdown and the impact of tariffs. Gold opened flat, while silver futures saw a slight increase, rebounding from previous lows due to safe-haven buying and a weaker dollar index.

Mid-day Updates

The Indian equity benchmark indices, Sensex and Nifty, initially opened with gains but later erased them and traded lower. The market experienced volatility throughout the morning. Around 11:30 am IST, the Sensex was at 73,782.89, down by 0.43%, and the Nifty was at 22,387.35, down by 0.49. Earlier in the day, the Nifty even dropped below the 22,400 level. Gains in Reliance Industries and Bharti Airtel, driven by their deals with SpaceX, initially offset losses in IT stocks . However, selling pressure intensified, particularly in the IT sector, causing a significant downturn. Ten of the 13 major sectors saw gains initially, with small- and mid-cap stocks rising by about 0.2%. However, by mid-morning, the IT index had fallen by around 4%. The banking index was among the few in the green with gains.

Top Gainers

• IndusInd Bank was a top gainer, up by 3.35%. This comes after a significant fall of 27% on the previous day.
• Kotak Bank gained 2.55%.
• Tata Motors rose by 2.28%. The company's management reassured investors about Jaguar Land Rover (JLR) meeting its FY25 EBIT targets, contributing to the positive movement.
• HDFC Bank was up by 1.42%. The bank has also repurchased nearly ₹7,000 crore worth of its high-cost bonds to improve its credit-deposit ratio.
• Trent saw a gain of 0.91%.

Earlier in the morning, HPCL and Bharti Airtel were among the top movers. IndusInd Bank also showed a 4% gain after its previous day's slump. Bharti Airtel shares jumped 3% on the news of signing a deal with Elon Musk's SpaceX for satellite communication services in India.

Top Losers

• Infosys was among the top losers, down by 5.44%. This decline followed a downgrade by Morgan Stanley, citing concerns about slowing growth and valuation pressures, which also led to a cut in the target price. Earlier, Infosys shares had fallen by 3% and 4% at different points in the morning.
• Wipro also experienced a significant drop of 5.36%. Wipro was also listed among the top losers earlier in the day.
• Tech Mahindra fell by 3.85%.
• HCL Tech was down by 3.65%. HCL Tech was also mentioned as a top Sensex loser earlier.
• Zomato saw a decline of 1.97%

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