Sensex Soars 1078.87 Points, Crosses 77,900 Mark; Nifty up by 307.95 Points

Market Closing Updates-March 24, 2025

The Indian stock market continued its record-breaking rally on Monday, March 24, 2025, marking the sixth consecutive session of gains. Both the Sensex and Nifty indices witnessed significant upward movement, driven by robust performances in the banking and IT sectors, coupled with strong foreign capital inflows and strategic bargain buying.

Market Performance

The BSE Sensex climbed by 1078.87 points from the previous day’s close, and crossed the 77,900 mark to close at 77,984.38. On the other hand, NSE Nifty was up by 307.95 points, closing at 23,658.35. This surge reflects growing investor confidence and sustained positive momentum in the domestic market.

Key Market Drivers

Sectoral Gains: Banking and IT stocks were the primary drivers of today’s rally. The Nifty Bank index gained over 400 points, reflecting renewed strength in the financial sector.

Stock-Specific News:

• Adani Energy Solutions shares surged nearly 2% after securing a ₹2,800 crore project in Gujarat, further fueling positive sentiment in the infrastructure space.
• NCC shares rallied 5% on receiving a ₹1,480 crore Letter of Acceptance (LoA) for a redevelopment project, indicating strong growth prospects in the construction sector.
• Godrej Properties shares rose 3% following the acquisition of 10 acres in Bengaluru, with a projected revenue potential of ₹2,500 crore, underscoring confidence in the real estate market.

Global Cues: While some Asian markets like Japan and Shanghai showed mixed performance, positive cues from S&P 500 futures and Euro Stoxx 50 futures pointed towards a favorable global backdrop.

Stocks in Focus

In addition to the stocks mentioned above, other notable movements included:

• Apollo Hospitals shares gained attention as a subsidiary increased its stake in Keimed Private Ltd. for ₹625 crore.
• SAIL shares rose nearly 2% as the company aims to increase production capacity to 35.65 MTPA by 2031.
• Nykaa and Bharti Airtel were among the top trading ideas highlighted by analysts.

Forex and Bond Markets

The Indian rupee opened higher at ₹85.9375 per US dollar, reflecting positive forex trends. Bond yields held steady as the market awaited the final state debt sale for the fiscal year.

Conclusion

Today’s rally in the Indian stock market is a testament to robust domestic economic fundamentals and strong investor sentiment. Gains across multiple sectors and positive news surrounding key companies underscore the potential for continued growth in the coming days.

Market Mid-day Update

• Sensex: The BSE Sensex soared by 900 points, trading at 77,850, reflecting a gain of 1.17% by mid-day.

• Nifty: The NSE Nifty climbed above the 23,600 mark, gaining 159.75 points (+0.69%), to trade at 23,610.

Top Gainers of the Market 

The stock market saw Kotak Mahindra Bank (KOTAKBANK) emerge as the biggest gainer today, with a 4.30% increase. Other top performers include NTPC, BEL, Power Grid, and Axis Bank. Let’s take a look at the details! 

1. Kotak Mahindra Bank (KOTAKBANK)

• Opening Price: ₹2,100.00
  
  
• Closing Price (LTP): ₹2,079.00
  
  
• % Change: +4.30%
  
  

Strong buying interest pushed Kotak Mahindra Bank’s stock higher, indicating positive market sentiment and institutional investments.

2. NTPC

• Opening Price: ₹357.00
  
  
• Closing Price (LTP): ₹351.30
  
  
• % Change: +3.07%

NTPC’s stock is in bullish mode, driven by expectations of strong growth and demand in the power sector.

3. Bharat Electronics Limited (BEL)

• Opening Price: ₹296.90
  
  
• Closing Price (LTP): ₹295.74
  
  
• % Change: +2.51%
  
  

BEL saw an increase in share value due to positive growth in the defense and electronics manufacturing sector.

4. Power Grid (POWERGRID)

• Opening Price: ₹285.00
  
  
• Closing Price (LTP): ₹283.10
  
  
• % Change: +1.98%
  
  

Power Grid gained momentum, supported by stable power demand and government initiatives in the energy sector.

5. Axis Bank (AXISBANK)

• Opening Price: ₹1,082.00
  
  
• Closing Price (LTP): ₹1,070.15
  
  
• % Change: +2.47%
  
  

The stock is on an upward trend, backed by strong quarterly performance and optimism in the banking sector.

Top Losers of the Market

The stock market saw Mahindra & Mahindra (M&M) take the biggest hit today, with a 2.74% decline. Other major losers include Titan, IndusInd Bank, Trent, Hero MotoCorp, Infosys, and Britannia. Let’s break it down:

1. Mahindra & Mahindra (M&M)

• Opening Price: ₹2,815.30
  
  
• Closing Price (LTP): ₹2,801.85
  
  
• % Change:  -2.42%
  
  

M&M shares faced selling pressure as investors booked profits after a recent rally. Market volatility in the auto sector also played a role in the decline.

2. Titan (TITAN)

• Opening Price: ₹3,168.20
  
  
• Closing Price (LTP): ₹3,162.70
  
  
• % Change: -2.45%
  
  

Titan saw a dip amid concerns over discretionary spending and broader market weakness. Jewelry and luxury retail segments faced headwinds.

3.  IndusInd Bank (INDUSINDBK)

• Opening Price: ₹692.00
  
  
• Closing Price (LTP): ₹686.90
  
  
• % Change: -1.32%
  
  

Banking stocks saw some correction, with IndusInd Bank slipping due to investor caution ahead of key economic data.

4.  Trent (TRENT)

• Opening Price: ₹5,150.45
  
  
• Closing Price (LTP): ₹5,150.05
  
  
• % Change: -1.03%
  
  

Trent, a retail sector stock, saw a slight decline as market sentiments shifted, with investors adopting a wait-and-watch approach.

5.   Hero MotoCorp (HEROMOTOCO)

• Opening Price: ₹3,658.00
  
  
• Closing Price (LTP): ₹3,629.00
  
  
• % Change: -0.74%
  
  

The stock faced selling pressure as concerns over input costs and demand outlook weighed on the two-wheeler sector.

6.  Infosys (INFY)

• Opening Price: ₹1,597.95
  
  
• Closing Price (LTP): ₹1,592.55
  
  
• % Change: -0.57%
  
  

IT stocks, including Infosys, remained under pressure due to global economic uncertainties affecting tech spending.

7.  Britannia (BRITANNIA)

• Opening Price: ₹4,816.40
  
  
• Closing Price (LTP): ₹4,814.00
  
  
• % Change: -0.33%
  
  

FMCG giant Britannia saw a slight dip, possibly due to profit booking after a strong performance in previous sessions.

Market Open

Indian benchmark equity indices, BSE Sensex and Nifty50, kicked off Monday on a positive note, despite mixed global market trends and tariff-related uncertainties dampening sentiment. At the opening bell, the Sensex gained by 551 points, the market opened at 77,456 and the previous close was 76,905, while the Nifty50 opened at 23,515 points and the previous close was 23,352, gaining 165 points. Overall, the performance of Indian stock markets is expected to be influenced by global trends, trade tariff concerns, and the activities of foreign portfolio investors.

Factors Influencing Market Sentiment

• US GDP Data Release: Investors are closely watching for the fourth-quarter US GDP growth report, set to be released on March 27. Market participants are also anticipating updates on trade tariffs.
• Ukraine Ceasefire Talks: Diplomatic efforts to reduce tensions in Ukraine are in progress. A high-level US delegation is scheduled to meet with Russian officials on Monday to discuss a potential ceasefire in the Black Sea. This meeting, following discussions with Ukrainian representatives on Sunday, signals an active push for de-escalation and a possible shift in US foreign policy.

Global Backdrop:

• US Dollar: The US Dollar Index (DXY), which tracks the performance of the dollar against six key foreign currencies, was recorded at 104.03 on Monday morning. This index reflects the dollar’s relative strength or weakness compared to major currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, and Swiss Franc. Additionally, on March 21, the rupee closed at 85.98 per US dollar.

• Gold Rates Today: Based on data from Goodreturns, gold prices remained unchanged on March 24. The rate for 10 grams of 24-carat gold was ₹89,770, while 22-carat gold was priced at ₹82,290, and 18-carat gold was available for ₹67,330 per 10 grams.

• Crude Oil: Crude oil prices experienced a modest decline on Monday, March 24. West Texas Intermediate (WTI) crude dropped by 0.09% to $68.22 per barrel, and Brent crude fell by 0.14% to $72.06 per barrel.

Stocks in Focus:

• Reliance Industries: Its subsidiary NTPL acquired a 74% stake in NSPL from Welspun Corp for ₹382.73 crore; NTPL had earlier provided an unsecured loan of ₹93.66 crore to NSPL.
• Mahindra & Mahindra: Announces a price hike of up to 3% on SUVs and commercial vehicles effective 1 April, citing increased input costs.
• NCC: Receives a Letter of Acceptance for a ₹1,480.34 crore project to redevelop Darbhanga Medical College & Hospital.
• Adani Enterprises: Subsidiary Cococart Ventures launched Cococart International-FZCO in Dubai on 21 March 2025, with business yet to start.
• CG Power: Subsidiary Axiro Semiconductor incorporated Axiro Semiconductor (Shenzhen) Co., Ltd. in China on 20 March 2025.
• Adani Green Energy: Subsidiary commissioned a 250 MW solar project in Rajasthan.
• Dr. Reddy’s Laboratories: Its USA subsidiary finalised the sale of its Louisiana unit, including the Shreveport facility, effective 21 March 2025.
• Apollo Healthco: To acquire an additional 11.2% stake in Keimed for ₹625.43 crore and invest ₹99.99 crore.
• Raymond's: Approved an investment of up to ₹65 crore in redeemable preference shares of its subsidiary Ten X Realty East for a redevelopment project.
• Larsen & Toubro: Board approval received for long-term borrowings of up to ₹12,000 crore; Subramanian Sarma promoted to Deputy MD & President effective 2 April.
• Ola Electric Mobility: Began deliveries of its S1 Gen 3 scooter series across India.
• Godrej Properties: Acquired 10 acres in Bengaluru with an estimated revenue potential of ₹2,500 crore.
• Power Grid Corporation: Acquired three SPVs for ₹26.57 crore through a bidding process.

Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.

To read the RA disclaimer, please click here