Sensex and Nifty Closing Updates, 19 March, 2025: Stock Market Closes on a Positive Note

Market Close Updates-March 19 ,2025

The Indian headline indices, Sensex and Nifty, ended Wednesday's trading session in the green. The Nifty closed above the 22,900 mark for the first time in 16 sessions. Specifically, the Nifty 50 ended 77 points or 0.34% higher at 22,912, and the BSE Sensex rose 146 points or 0.20% to close at 75,449. This marked the second consecutive session of positive closing for the markets.

Outperformance of Small and Midcap Stocks

Small and midcap stocks significantly outperformed the headline indices. The small and midcap stocks soared 1,300 points or 2.63% to finish at 50,817. Earlier in the intraday session, the BSE MidCap index rose 1.46%, and the BSE SmallCap index gained 1.63%.

Key Events Watched by Market Participants

Several key events were on the radar of market participants. The most prominent was the US Federal Reserve's policy decision, with investors keenly awaiting economic projections and the 'dot plot' for hints on future interest rate moves, along with Fed Chair Jerome Powell's remarks. Additionally, discussions between Donald Trump and Vladimir Putin regarding the Ukraine conflict, focusing on a potential ceasefire on critical infrastructure, were noted. The Bank of Japan (BOJ) also announced its decision to keep its key interest rate unchanged at 0.50%, opting to observe the impact of rising global trade tensions.

Surge in Gold Prices

Gold prices reached a new record high, driven by global economic uncertainty and increasing trade tensions. Gold rates have surged over 14% since the beginning of the year, experiencing multiple peaks due to economic concerns related to US trade policies.

Individual Stock Movements

Several individual stocks experienced notable movements. IndiGo's share price rallied 5% after the airline released its outlook for FY30, projecting a doubling of passengers in India by 2030. Shriram Finance shares were up nearly 4%. In early trade, shares of Vodafone Idea (Vi) jumped nearly 5% following the announcement of its 5G rollout in Mumbai. Top gainers in the Nifty 50 included Shriram Finance, HDFC Life, PowerGrid, Apollo Hospitals, and Tata Steel, while top losers were Tech Mahindra, TCS, Infosys, HCL Tech, and ITC. In the early trading hours, Tata Steel and JSW Steel were among the top gainers.

Broader Market Sentiment

The broader market exhibited strong buying momentum, with 2,303 stocks advancing and only 481 declining out of the 2,848 stocks traded on the Nifty. Bullish sentiment was evident as 192 stocks hit their upper circuit, while only 43 were locked in the lower circuit.

Factors Influencing Market Rally.

Positive domestic macroeconomic factors favor the continuation of the market rally, and sustained buying by Foreign Institutional Investors (FIIs) could support this. However, external factors remain uncertain, particularly concerning upcoming reciprocal tariffs. US markets turned negative after two days of gains, with major indices experiencing sharp declines, which could introduce caution among investors. Key stocks to watch included TATA Power, NTPC, Cummins India, Indus Tower, and Voltas, signaling bullish momentum on dips, although a soft Nifty opening was anticipated due to investor caution surrounding the FOMC meeting and high gold prices.

Mid-day Updates

The Sensex was up 176.67 points or 0.23 percent at 75,477.93, and the Nifty was up 67.95 points or 0.30 percent at 22,902.25.

Early Top Gainers and Their Performance

During the initial trading hours, several stocks demonstrated significant gains. Tata Steel was consistently highlighted as a top performer, showing an early increase of 1.8% and later trading higher by 2.52% and 2.36%.

Other notable early gainers included JSW Steel, up by 1.7%, along with BPCL, Adani Enterprises, and IndusInd Bank. By mid-morning, Tata Steel and Coal India were noted as top gainers. The list of top gainers expanded to include Shriram Finance, Tata Steel, IndusInd Bank, Adani Ports, and Apollo Hospitals.

Steel stocks, in general, experienced a rally, with some surging by as much as 4%. This positive movement in steel stocks was likely influenced by the Directorate General of Trade Remedies (DGTR) recommending a 12% safeguard duty on specific steel products.

Other stocks hitting their 52-week high included Vadilal Industries, which was among the top gainers in percentage terms for some indices. Sai Silks (Kalamandir) also saw its stock surge by 4.67% on the NSE.

Early Top Losers and Their Performance

Conversely, several stocks experienced declines in the early trading session. The technology sector appeared to be the primary source of top losers.

Around 10:42 am, TCS, Infosys, HCL Technologies, Tech Mahindra, and Hero MotoCorp were identified as the main losers. Earlier, these same technology firms, along with Wipro, were also listed as top losers.

By 11 am, the share prices of these technology companies showed the following losses: TCS down by 2.16%, Infosys by 1.93%, Tech Mahindra by 1.88%, and HCL Technologies by 1.58%. Additionally, Sun Pharmaceutical Industries experienced a decline of 1.02%, and ITC was down by 1.05% at that time.

Factors Influencing Market Movements

The initial positive momentum in the Indian market was attributed to a combination of mixed global cues and increasing optimism regarding a potential resolution to the Russia-Ukraine conflict. Renewed interest from foreign portfolio investors, who had purchased shares worth approximately ₹700 crore, also contributed to the positive sentiment.

The bullish sentiment was further supported by derivative trading data, which indicated significant open interest at the 23,000 call strike for the Nifty. However, the preceding declines in US stock indices, particularly within the technology sector, due to investors reducing their exposure to US risk assets ahead of the Federal Reserve's interest rate decision, presented a contrasting influence.

Market Open updates

Indian benchmark equity indices, BSE Sensex and Nifty50, kicked off trading on Wednesday with a modest positive bias despite weak global signals, as the BSE Sensex edged up by 80.04 points to close at 75,381.30, and the Nifty50 registered at 22,849.55, gaining 15.25 points; however, the market sentiment remains subdued due to the impact of a lower Wall Street close influenced by weak consumer sentiment.

Factors Influencing Market Sentiment

• Focus on the Fed's Announcement: The financial community is turning its attention to the US Federal Reserve as it prepares to unveil its policy decision today. Investors are looking forward to the Fed’s economic outlook and the eagerly awaited ‘dot plot,’ which may provide clues about potential future interest rate adjustments. All eyes will be on Fed Chair Jerome Powell, whose remarks are expected to shed light on the road ahead.
• Advances in Ceasefire Negotiations: In a recent development, Donald Trump and Vladimir Putin engaged in discussions regarding the Ukraine conflict, agreeing to kick-start peace talks. The White House described the dialogue as productive, noting that both leaders consented to a temporary halt on attacks targeting critical infrastructure.
• Record Surge in Gold Prices: Amid ongoing global economic uncertainties and heightened trade tensions, gold prices have reached an all-time high. Since the start of the year, gold has climbed more than 14%, experiencing multiple surges driven by concerns over US trade policies.

Global Backdrop:

• US Dollar: On Wednesday morning, the US Dollar Index (DXY) — which assesses the dollar’s value against a basket of six prominent foreign currencies — registered at 103.35. Additionally, the rupee closed at 86.56 against the US dollar on March 18.

• Crude Oil: Crude oil prices experienced a modest decline on Wednesday morning. U.S. benchmark WTI crude fell by 0.18% to $66.78 per barrel, while the global standard, Brent crude, edged down by 0.14% to $70.44 per barrel.

• Gold Prices in India: According to Goodreturns, as of March 19 in India, 24-carat gold is priced at Rs 90,010 per 10 grams. Meanwhile, 22-carat gold is available at Rs 82,510 per 10 grams, and 18-carat gold is trading at Rs 67,751 per 10 grams.

Stocks in Focus:

• Hero MotoCorp: Formed a joint venture with Germany’s Schmiedetechnik Plettenberg to manufacture forged powertrain components in India for global markets.
• Bajaj Auto: Extended CEO Rajivnayan Rahulkumar Bajaj’s tenure by 5 years (effective April 1), appointed Abhinav Bindra as Non-Executive Independent Director (from May 20), and approved up to ₹1,500 crore investment in Bajaj Auto Credit.
• Dr. Reddy’s Laboratories: In collaboration with Alvotech, received FDA acceptance of the 351(k) BLA for AVT03, a biosimilar candidate to Prolia/Xgeva.
• Zydus Lifesciences: Secured final USFDA approval to manufacture 60 mg Apalutamide tablets for metastatic castration-sensitive prostate cancer.
• Bharti Airtel: Shareholders approved the sale of its passive infrastructure assets to subsidiary Indus Towers via remote e-voting.
• Vodafone Idea: Launched 5G services in Mumbai with plans to expand to five additional cities.
• GR Infraprojects: Awarded a LoA by NHAI for the Agra-Gwalior Greenfield road project valued at ₹4,262.78 crore under a DBFOT BOT Toll mode.
• LIC: Clarified that it is in advanced discussions to acquire a significant stake in a standalone health insurance company, with finalization expected before March 31.
• Nazara Technologies: Increased its stake in Absolute Sports to 100%.

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