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The upcoming trading week will be shorter due to holidays, with market participants closely monitoring both global and domestic events.
At 09:30 IST, the barometer index, the S&P BSE Sensex, rose 88.94 points, or 0.12%, to 74,421.52. The Nifty 50 index added 41.10 points, or 0.18%, to 22,593.60.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.20%, and the S&P BSE Small-Cap index declined 0.45%.
The market breadth was negative. On the BSE, 1,549 shares rose and 1,593 shares fell. A total of 164 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,035.10 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,320.36 crore in the Indian equity market on 6 March 2025, provisional data showed.
Economy:
India's forex reserves dropped by $1.781 billion to $638.698 billion in the week ended February 28, the RBI said on Friday.
Foreign currency assets, a major component of the reserves, decreased by $493 million to $543.35 billion.
Gold reserves decreased by $1.304 billion to $73.272 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were up by $27 million to $17.998 billion, the apex bank said.
India's reserve position with the IMF fell by $12 million to $4.078 billion in the reporting week, the apex bank data showed.
Stocks in Spotlight:
Oriental Rail Infrastructure hit an upper circuit of 5% after the company secured its first significant order for the supply of seats for the Vande Bharat Express, India's first indigenous semi high speed train.
JSW Steel rose 0.29%. The company announced that consolidated crude steel production jumped 12% to 24.07 lakh tonnes in February 2025 as compared with 21.50 lakh tonnes produced in February 2024.
Shilpa Medicare added 1.83% after the company said that the United States Food and Drugs Administration (US FDA), post an inspection, has issued Form 483 with one observation to the company’s unit located at Raichur.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 1.70% to 6.802 as compared with previous close 6.680.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 87.2625, compared with its close of 86.9550 during the previous trading session.
MCX Gold futures for 4 April 2025 settlement rose 0.21% to Rs 86,055.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.03% to 103.89.
The United States 10-year bond yield fell 0.81% to 4.283.
In the commodities market, Brent crude for May 2025 settlement lost 34 cents, or 0.48% to $70.02 a barrel.
Global Markets:
US Dow Jones index futures were down 173 points, indicating a negative opening in the US stocks today. Investors remained wary of uncertainty surrounding President Donald Trump’s tariff policies and mulled over Federal Reserve Chair Jerome Powell’s cautious remarks.
Most Asian stocks traded lower on Monday as traders analyzed fresh economic data from China. Over the weekend, China’s consumer inflation dipped into negative territory for the first time in 13 months, driven by seasonal distortions and broader economic headwinds. The consumer price index (CPI) fell 0.7% year-over-year in February, reversing a 0.5% gain in January, according to the National Bureau of Statistics.
Adding to market jitters, Beijing announced retaliatory tariffs on certain Canadian agricultural products. The move comes after Canada imposed import duties last year on Chinese electric vehicles, steel, and aluminum. Under the new measures, China will slap a 100% tariff on Canadian rapeseed oil, oil cakes, and peas, while a 25% levy will be applied to aquatic products and pork.
In the U.S., major stock indices closed higher on Friday after a volatile trading day. The S&P 500 index rose 0.55% to 5,770.20, while the Nasdaq Composite gained 0.7% to 18,196.22. The Dow Jones Industrial Average added 222.64 points, or 0.52%, to end at 42,801.72.
Meanwhile, the latest labor market data painted a mixed picture. The U.S. economy added 151,000 jobs in February—falling short of expectations—while the unemployment rate ticked up to 4.1% from January’s 4.0%, signaling possible cracks in labor market resilience.
Speaking on Friday, Fed Chair Jerome Powell reaffirmed the central bank’s cautious stance on interest rates. While acknowledging that the U.S. economy remains stable, he emphasized the need for patience, particularly in light of President Donald Trump’s recent economic policy shifts, which include tariffs and federal worker layoffs. Powell’s comments suggest the Fed is in no rush to alter its policy path amid lingering uncertainties.
Oriental Rail Infrastructure has secured its first significant order for the supply of seats for the Vande Bharat Express, India's first indigenous semi high speed train.
JSW Steel announced that consolidated crude steel production jumped 12% to 24.07 lakh tonnes in February 2025 as compared with 21.50 lakh tonnes produced in February 2024.
Shilpa Medicare said that the United States Food and Drugs Administration (US FDA), post an inspection, has issued Form 483 with one observation to the company’s unit located at Raichur.
Alembic Pharmaceuticals stated that the United States Food and Drug Administration (US FDA) had conducted an inspection at the company’s bioequivalence facility located at Vadodara from 3rd to 7th of March 2025.
Tata Power Company's subsidiary, Tata Power Renewable Energy (TPREL) has signed a memorandum of understanding (MoU) with the Government of Andhra Pradesh to develop 7,000 MW of renewable energy (RE) projects in Andhra Pradesh.
HFCL's material subsidiary, HTL, has received the contract worth Rs 44.36 crore from Indian Army for supply of tactical optical fiber cable assemblies.
Coal India signed an memorandum of understanding (MoU) with Indian Institute of Technology (IIT), Hyderabad to develop clean coal technologies and diversification in coal utilization.
At 11:30 IST, the barometer index, the S&P BSE Sensex, rose 238.07 points or 0.32% to 74,566. The Nifty 50 index added 68.50 points or 0.30%, to 22,621.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.10% and the S&P BSE Small-Cap index declined 0.64%.
The market breadth was negative. On the BSE, 1,655 shares rose and 2,155 shares fell. A total of 200 shares were unchanged.
Buzzing Index:
The Nifty FMCG index added 0.83% to 52,322.40. The index rallied 3.55% in the four consecutive trading sessions.
Hindustan Unilever (up 1.88%), Nestle India (up 1.49%), Godrej Consumer Products (up 1.36%), United Spirits (up 0.92%), Dabur India (up 0.85%), Britannia Industries (up 0.71%), ITC (up 0.53%), Colgate-Palmolive (India) (up 0.46%), Varun Beverages (up 0.38%) and Tata Consumer Products (up 0.29%) advanced.
On the other hand, United Breweries (down 0.34%), Radico Khaitan (down 0.12%) and Marico (down 0.03%) edged lower.
Zydus Lifesciences rose 0.13%. The company announced that it has received final approval from the United States Food and Drug Administration (USFDA) to manufacture Ketoconazole Shampoo, 2% (USRLD: Nizoral Shampoo, 2%).
JSW Steel advanced 1.57% after the company said that its consolidated crude steel production jumped 12% to 24.07 lakh tonnes in February 2025 as compared with 21.50 lakh tonnes produced in February 2024.
Indian Renewable Energy Development Agency's (IREDA) slipped 1.24% after the Reserve Bank of India (RBI) rejected the company's request for equity investment in the 900 MW Upper Karnali Hydropower Project in Nepal.
US Dow Jones index futures were down 167 points, indicating a negative opening in the US stocks today. Investors remained wary of uncertainty surrounding President Donald Trump’s tariff policies and mulled over Federal Reserve Chair Jerome Powell’s cautious remarks.
Ohio-based JSW Steel USA has reported steel production volume of 0.75 lakh tonnes for the February 2025, recording de-growth of 70.65% as compared with 0.91 lakh tonnes recorded in February 2024.
JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.
The company reported 70.65% decline in consolidated net profit to Rs 719 crore in Q3 FY25 compared with Rs 2,450 crore in Q3 FY24. Revenue from operations declined 1.32% YoY to Rs 40,793 crore during the quarter.
As per provisional closing, the barometer index, the S&P BSE Sensex, declined 217.41 points or 0.29% to 74,115.17. The Nifty 50 index lost 92.20 points or 0.41%, to 22,460.30.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 1.46% and the S&P BSE Small-Cap index fell 2.11%.
The market breadth was weak. On the BSE, 1,204 shares rose and 2,878 shares fell. A total of 147 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.82% to 13.99.
Gold reserves decreased by $1.304 billion to $73.272 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by $27 million to $17.998 billion, the apex bank said.
The Nifty Realty index fell 2.04% to 799.70. The index slipped 3.36% in three consecutive trading sessions.
Mahindra Lifespace Developers (down 6.55%), Raymond (down 3.60%), Macrotech Developers (down 3.35%), DLF (down 2.99%), Sobha (down 2.75%), Prestige Estates Projects (down 1.83%), Godrej Properties (down 1.70%), Oberoi Realty (down 1.24%) and Phoenix Mills (down 0.54%) declined.
JSW Steel rose 0.01%. The company said that its consolidated crude steel production jumped 12% to 24.07 lakh tonnes in February 2025 as compared with 21.50 lakh tonnes produced in February 2024.
Zydus Lifesciences shed 0.97%. The pharma major announced that it has received final approval from the United States Food and Drug Administration (USFDA) to manufacture ketoconazole shampoo, 2%.
Ketoconazole shampoo, a generic version of Nizoral Shampoo (2%), is an antifungal medication used to treat dandruff, fungal infections, and other skin conditions. It will be produced at the group’s topical manufacturing site at Changodar, Ahmedabad.
Sun Pharmaceutical Industries rose 0.15%. The company said that it has entered into an agreement for the acquisition of all the outstanding shares of Checkpoint Therapeutics, Inc., an immunotherapy and targeted oncology company.
Lupin slipped 1.04%. The company announced that it has launched Rivaroxaban tablets USP, 2.5 mg, in the US market following final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA).
Rivaroxaban is indicated for reducing the risk of major cardiovascular events in patients with coronary artery disease (CAD) and major thrombotic vascular events in patients with peripheral artery disease (PAD), including those who have undergone lower extremity revascularization due to symptomatic PAD.
Glenmark Pharmaceuticals slipped 0.52%. The company has announced the launch of 'Polyethylene Glycol 3350 Powder for Solution' as on OTC product in the US market.
Polyethylene Glycol is an osmotic laxative. It prevents and treats occasional constipation.
Indian Renewable Energy Development Agency's (IREDA) dropped 4.18% after the Reserve Bank of India (RBI) rejected the company's request for equity investment in the 900 MW Upper Karnali Hydropower Project in Nepal.
Coal India (CIL) declined 1.64%. The company said that it has signed memorandum of understanding (MoU) with Indian Institute of Technology, Hyderabad (IIT-H) to develop clean coal technologies, diversification in coal utilization.
Bodal Chemicals surged 15.57% after the Indian government imposed anti-dumping duties on Trichloro Isocyanuric Acid (TCCA) imports from China and Japan.
Captain Technocast gained 4.92% after the company said that its board will convene on Tuesday, 18 March 2025, to consider a bonus share issue.
Sterlite Technologies dropped 4.27% after the company informed that Tushar Shroff, chief financial officer (CFO) and key managerial personnel of the company, has tendered his resignation, effective from 31 March 2025.
Active Clothing Co hit an upper limit of 5% after the company announced its plan to raise funds via a preferential allotment of 5 lakh warrants.
Narayana Hrudayalaya rose 0.54%. The firm’s foreign subsidiary, Health City Cayman Islands (HCCI) entered into a joint venture (JV) agreement with 2070 Health Inc., W Health Ventures GP LLC, and Everhope Oncology Private to establish and operate a network of healthcare centers in India, specifically for the treatment of cancer patients, with a focus on chemotherapy treatment.
SPML Infra hit an upper circuit of 5% after the company signed an agreement with the Water Resource Department, Hazaribagh, for a major irrigation project under the Konar Irrigation Project on a turnkey basis.
US Dow Jones index futures were down 328 points, indicating a negative opening in the US stocks today. Investors remained wary of uncertainty surrounding President Donald Trump’s tariff policies and mulled over Federal Reserve Chair Jerome Powell’s cautious remarks.
European stocks declined on Monday after German exports fell 2.5% month-on-month in January, provisional data from the country’s Federal Statistical Office showed.
Most Asian shares ended lower as traders analyzed fresh economic data from China. Over the weekend, China’s consumer inflation dipped into negative territory for the first time in 13 months, driven by seasonal distortions and broader economic headwinds. The consumer price index (CPI) fell 0.7% year-over-year in February, reversing a 0.5% gain in January, according to the National Bureau of Statistics.
Meanwhile, the latest labor market data painted a mixed picture. The U.S. economy added 151,000 jobs in February, falling short of expectations while the unemployment rate ticked up to 4.1% from January 4.0%, signaling possible cracks in labor market resilience.
Speaking on Friday, Fed Chair Jerome Powell reaffirmed the central bank’s cautious stance on interest rates. While acknowledging that the U.S. economy remains stable, he emphasized the need for patience, particularly in light of President Donald Trump’s recent economic policy shifts, which include tariffs and federal worker layoffs. Powell‘s comments suggest the Fed is in no rush to alter its policy path amid lingering uncertainties.
The counter rose 0.06% to end at Rs 1,011.15 on Friday, 7 March 2025.
The move, aimed at tackling overcapacity, sparked positive sentiment among investors in Indian steel companies. While China indicated a commitment to 'promote restructuring of the steel industry through output reduction,' it notably refrained from specifying any concrete reduction targets.
China, the world's largest steel producer and consumer, is facing pressure to address oversupply issues. The restructuring initiative is seen as a potential catalyst for stabilizing global steel prices and improving market conditions for producers outside of China.
Chinese steelmakers have been grappling with generating profits as a prolonged property downturn has hit domestic steel consumption and as the mounting trade frictions against cheap Chinese steel products have cast a shadow on its steel exports outlook this year.
The Indian steel sector is anticipated to benefit from a potential decrease in Chinese steel exports, which could lead to increased demand for domestically produced steel.