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Starlink’s India Boost, Ola’s Holi Flash Sale & Market Trends

BEL’s Rs577-Cr Boost & Biocon’s U.S. Expansion

 

Welcome to Markets Daily by Bajaj Broking, where we bring you the latest market insights to keep you ahead of the curve. Don’t forget to check out our Morning Podcast for more updates!

 

Also Read: Stock Market Live Updates

 

 

Starlink’s India Boost, Ola’s Holi Flash Sale & Market Trends

Global Market Overview

Global markets ended mixed on Wednesday as US inflation data showed a sharper-than-expected slowdown, boosting tech stocks while weighing on consumer staples. The Nasdaq gained 1.2%, the S&P 500 rose 0.5%, while the Dow Jones slipped 0.2%. US Treasury yields increased, with the 10-year yield at 4.3%, while the dollar index hovered around 103.50. Crude oil prices surged over 2%, with WTI at $67.68 per barrel and Brent at $70.95, while gold rose 0.8% to $2,943.4 per ounce.

Also Read: Understanding Income Funds

Asian Market Performance

Asian equities advanced as Wall Street rebounded from prior losses, with Gift Nifty indicating a flat start for Indian markets within the 22,250–22,750 range.

Indian Market Recap

Indian indices saw choppy trade, with Nifty closing at 22,470 (-0.12%) after recovering from intraday lows, while Sensex declined 72 points (-0.10%). Broader markets corrected, with Midcap and Smallcap indices down 0.57% and 0.48%, respectively.

Also Read: Understanding ESG Investing

Key Market Updates

1. Jio and Airtel Partnership Gives Starlink a Head Start in India

Starlink is set to benefit from its strategic partnership with Jio and Airtel, strengthening its satellite internet presence in the Indian market.

2. Ola Electric Announces 'Holi Flash Sale' for S1 Range e-Scooters

The company has introduced special festive discounts on its S1 series, aiming to boost sales ahead of the festival season.

3. FIIs & DIIs Activity

Foreign Institutional Investors (FIIs) were net sellers at ₹1,627.61 crore, while Domestic Institutional Investors (DIIs) stepped in as net buyers with ₹1,510.35 crore in equities.

Indian Market Outlook

Nifty Performance in the Previous Session

Nifty had opened on a positive note but struggled to sustain higher levels, surrendering its gains to hit an intraday low of 22,329 by mid-session. However, buying interest emerged near the previous session’s low, aiding a partial recovery, with the index ultimately closing marginally lower.

By the closing bell, the Sensex slipped 72 points (-0.10%) to 74,029.76, while the Nifty edged down 27 points (-0.12%) to settle at 22,470.50.

The broader market exhibited a corrective bias, with the BSE Midcap and Small-cap indices declining by 0.57% and 0.48%, respectively.

Macroeconomic Highlights

On the macroeconomic front, India’s CPI for February came in at 3.61%, while IIP growth for January stood at 5.0%, both released post-market hours. Meanwhile, the US CPI data is set for release today, and market participants are likely to react to these key data points in the next session.

Among sectoral indices, Banking, Auto, Pharma, and Oil & Gas gained around 0.5%, while IT, Media, and Realty sectors saw declines ranging from 1.5% to 3%. The Nifty IT index tumbled nearly 3% in early trade, marking its lowest level since July 2024, as Indian IT firms brace for a delayed recovery in discretionary spending amid concerns over Trump’s tariffs and recession risks.

Also Read: Understanding Incubated Funds

Nifty Short-Term Outlook

Benchmark indices remained rangebound with elevated volatility, ending slightly lower on Wednesday. The index formed a small bearish candle with a long lower wick, signaling sustained buying interest for the second consecutive session near the 50% Fibonacci retracement level of the prior upswing (21,965–22,676).

Looking ahead, a continuation of strength could drive an upward move towards the 22,700–23,000 zone in the coming weeks, with immediate support placed at 22,300–22,200. Any dips toward this support range are likely to present a buying opportunity in the upcoming sessions.

Key Short-Term Support Levels: 22,000–21,700 (aligning with the 100-week EMA and a critical trendline support connecting multi-year lows)

Intraday Levels for Nifty

Resistance: 22,580 & 22,720
Support: 22,330 & 22,200

Intraday Levels for Bank Nifty

Resistance: 48,300 & 48,570
Support: 47,840 & 47,600

Global and Asian Market Performance

US benchmark equity indices ended mixed on Wednesday as the consumer inflation report revealed a sharper-than-anticipated slowdown in February. The Nasdaq Composite rose 1.2% to 17,648.5, while the S&P 500 increased 0.5% to 5,599.3. The Dow Jones Industrial Average was down 0.2% to 41,350.9. Technology and communication were the top gainers among sectors, while consumer staples had the steepest drop. In economic news, the US consumer price index increased 0.2% sequentially and 2.8% annually last month, compared with Bloomberg survey expectations of 0.3% and 2.9%, respectively.

Asian equities rose Thursday after cooler-than-forecast US inflation helped Wall Street rebound from two days of heavy losses. Australian and Japanese equities advanced, while US equity-index futures edged higher in early Asian trade, extending gains from the previous session.

Also Read: Bharti Airtel Partners with SpaceX to Launch Starlink Internet in India

Stay Updated

We encourage you to check out the description below for a more in-depth analysis of the option chain, including detailed data and insights. We cover the latest trends, key levels, and options activity to help you stay updated on market movements and make informed decisions. Be sure to visit for all the latest information and expert analysis! 

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Updated - 13 March 2025
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