Stock Market Live Updates | Gift Nifty signals a positive start; Nifty to trade between 23,050-22,700

 3:30 PM IST

Closing Bell | Sensex closing 148 points higher | Nifty surpasses 22,900

The Sensex extended its rally for the third consecutive session, gaining 148 points, while Nifty crossed 22,900. Mobikwik Systems surged 11.90%, KNR Constructions rose 11.63%, and Techno Electric gained 9.16%. Other top gainers included Cochin Shipyard and Mishra Dhatu Nigam. Meanwhile, Phoenix Mills fell 3.20%, Avanti Feeds lost 2.97%, and Zee Entertainment declined 2.59%. Power Grid and UltraTech Cement advanced 2% each, contributing to market strength.

 2:30 PM IST

Stock Market LIVE Update | Sensex gains 200 points | Nifty crosses 22,900

The Sensex climbed 200 points, while the Nifty surpassed 22,900 amid mixed global market trends. European shares dipped 0.3% despite Germany’s spending approval boosting initial gains. Germany’s blue-chip index declined 0.5%, while aerospace and defence stocks reached record highs. Barclays raised its STOXX 600 target, citing long-term fiscal growth. Basic resources and banking stocks saw losses ahead of the US Fed rate decision. Among top gainers, Sterlite Technologies surged 9.29%, followed by One Mobikwik Systems at 9.20%. The biggest losers included Timescan Logistics, which fell 4.96%, and Foce India, down 3.73%, alongside other declining stocks.

 1:30 PM IST

Stock Market LIVE Update | Sensex gains 200 points | Nifty crosses 22,900

Sensex climbed 200 points while Nifty crossed 22,900. Kolkata-based Mihup, after raising Rs 100 crore, plans an IPO in two years and expands its in-car virtual assistant. Divine Hira Jewellers’ IPO saw 2.7 times subscription. Gold reached a record $3,042.95 as a safe-haven asset. SAIL and NMDC Steel surged up to 8.3% after DGTR recommended a 12% safeguard duty. IndiGo revealed its FY30 roadmap, targeting 118 million passengers in FY25 and expanding international routes with Airbus A321 XLR deliveries from FY26. The airline aims to add 14 new destinations and increase fleet capacity by receiving over one aircraft weekly.

 12:30 PM IST

Stock Market LIVE Update | Sensex gains 150 points | Nifty crosses 22,900

Sensex climbed 150 points, pushing Nifty beyond 22,900. SpiceJet’s promoter group invested Rs 294.09 crore, raising its stake to 33.47%. Muthoot Finance, Bajaj Finance, and Coromandel International hit 52-week highs. Strides Pharma gained 2% after its board approved Arco Lab’s demerger. Jio Financial shares rose 2% as Allianz SE explored a partnership following its $2.8 billion exit from Bajaj Allianz. MobiKwik surged 43% in two days after an IPO lock-in expiry, recovering from a 52-week low of Rs 231. The stock climbed 19% on March 19 after a 20% rally the previous day.

 11:20 AM IST 

Stock Market LIVE Update | Sensex rises 150 points | Nifty crosses 22,900

The Sensex climbed 150 points, with the Nifty surpassing 22,900, driven by gains in KPI Green Energy, which rose 3% after securing a Rs 272 crore credit sanction. Shriram Finance and Tata Steel gained 4% and 2%, respectively. Meanwhile, Indian IT stocks fell nearly 2%, following a 1.7% drop in the Nasdaq. Gensol Engineering hit a 5% lower circuit for the seventh straight session, dropping to a 52-week low due to credit rating downgrades. Zydus Lifesciences rallied 3% after securing USFDA approval for Apalutamide tablets used to treat prostate cancer.

  9:20 AM IST 

Stock Market LIVE Update | Sensex rises 100 points | Nifty crosses 22,850

Sensex gained 100 points while Nifty climbed above 22,850. The rupee weakened by 11 paise to 86.67 against the US dollar in early trade. SAIL, One Mobikwik Systems, Tata Steel, and YES Bank were among the top gainers. IndusInd Bank shares remain in focus after Ashok Hinduja clarified that no fresh capital is being sought. Bajaj Auto shares also gained attention following the reappointment of Rajiv Bajaj and a Rs 1,500 crore investment in its credit unit. Super Iron Foundry shares are set to debut on the BSE SME platform with a slight premium over the issue price.

GIFT NIFTY: Gift Nifty suggests a positive start to the Indian market after yesterday strong pullback. We expect Nifty spot in todays session to trade in the range of 23,050-22,700.

INDIA VIX: 13.21 | -0.20 (1.53%) ↓ today

Latest Market News

1. Steel Sector - DGTR proposes imposition of a provisional 12% safeguard duty on Flat steel products for 200 days, pending final investigation.

2. ⁠Interglobe Aviation: Indigo Ceo Says Global Aircraft Delivery System Is Clearly Under Pressure. Says Don't See Any Softness In Travel Demand In India.

3. ⁠Lupin: Co Says Subsidiary Lupinlife Consumer Healthcare Incorporated.

4. G R Infraprojects: Co Receives Loa From Nhai For Project. Co Says Estimated Project Cost Is 42.63b Rupees.

5. Premier Explosives: Co Gets Export Order Worth 189m Rupees.

6. Power stocks - Delhi power demand to cross record 9,000 MW this summer.

7. ⁠FIIs Net Buy ₹694.57 Cr & DIIs Net Buy ₹2,534.75 Crore In Equities yesterday (Provisional).

In-Depth Market Insights: Global Outlook, Derivatives & More

Other Asset Classes

1. Treasury Yields: 

   • The benchmark 10-year Treasury yield closed on a flat note at 4.299% ahead of the Federal Reserve FOMC meeting outcome.

2. Currency: 

   • The US Dollar Index traded flat and closed marginally down by 0.10% at 103 levels.

3. Commodities:

   • Gold hit record high above $3,000 on Tuesday, with investors seeking the metal as a haven from risk as conflict flared in the Middle East and U.S. President Donald Trump pressed on with tariff plans. Spot Gold hit a high of $3,028.24 in early trade, and was up 1.2% at $3,037.38 an ounce.

   • Oil prices eased about 1% on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin discussed moves to end the three-year-old war in Ukraine, which could result in a possible easing of sanctions on Russian fuel exports. The May Brent oil contract fell 1.00% to trade at $70.36 a barrel.

Asian Markets

1. General Trends:

   • Asia-Pacific markets traded mixed on Wednesday, following declines on Wall Street after a sell-off in technology stocks picked up pace.

2. Specific Index Performance:

   • Japanese markets will be in focus for investors, with the Bank of Japan poised to announce its monetary policy decision later in the day. The central bank is widely expected to hold interest rates steady at 0.5%.

   • Japan’s benchmark Nikkei 225 edged up 0.41% shortly after the open, while the broader Topix index increased 0.70%. Over in South Korea, the Kospi index started the day 0.91% higher, while the small-cap Kosdaq fell 0.27% in choppy trade.

India Market Outlook

1. Market in Previous Session:

   • Indian Equity markets rebounded sharply on Tuesday today as benchmark Indices closed on a robust note with the Nifty surpassing the 22,800 mark.

   • The session was firmly in bullish control, with the index opening strong and progressively building on its gains to close near the high of the session.

   • The Sensex surged 1,131.31 points (+1.53%) to settle at 75,301.26, while the Nifty rallied 325.55 points (+1.45%) to close at 22,834.30.

   • All sectoral indices closed in the green, with auto, capital goods, consumer durables, metals, power, realty, and media leading the charge, posting gains of 2-3%, reflecting broad-based sectoral strength. 

   • The BSE Midcap and Small-cap indices surged over 2% each, signaling strong momentum in the broader market.

TRADE SETUP FOR MAR 19

1. Nifty Short-Term Outlook:

   • Nifty on the daily chart has formed a strong bull candle with a higher high and higher low and a bullish gap below its base (22,577-22,600) signaling a positive follow through to previous session bullish Piercing line candle. 

   • Index on expected lines extended gains and moved above 22,800 levels during yesterday’s session. We expect index to maintain positive bias and extend the current pullback towards the key resistance area of 23,000-23,250 levels in the coming sessions.

   • The immediate support level is at 22,500-22,600, which corresponds to Tuesday's gap-up area. Nifty holding above this level will keep the overall bias positive.

   • A key hurdle lies at 23,000-23,250, where the previous swing high, 50-day EMA, and 6-month falling trendline converge. A breakout above 23,000-23,250 is needed to reverse the short-term corrective trend.

2. Intraday Levels:

   • Nifty: Intraday resistance is at 22,940 followed by 23,050 levels. Conversely, downside support is located at 22,770, followed by 22,650.

   • Bank Nifty: Intraday resistance is positioned at 49,630, followed by 49,870, while downside support is found at 49,050, followed by 48,800.

Derivative Market Analysis

1. Nifty:

   • Put writers are active across the 22,600, 22,700, and 22,800 strike levels, indicating multiple support zones, with the highest put OI noted at the 22,500 level.

   • Put writers have shifted their positions to higher levels, while call writers have unwound their positions, indicating a positive data point and a probable upside.

   • The highest call OI is noted at the 23,000 level, which serves as immediate resistance. Surpassing and sustaining above this level could trigger short covering.

   • According to option chain analysis, the immediate range for Nifty is between 22,500 and 23,000.

   • Nifty’s put-call ratio increased by 0.24 and is now positioned at 1.29.

2. Bank Nifty:

   • The highest put OI addition, previously at the 48,000 level, has now shifted to 49,000, indicating that 49,000 will act as support.

   • The shifting of put writers to higher levels and the unwinding of call writers' positions indicate a positive data point.

   • The highest call OI is noted at the 51,000 level, while immediate call OI is placed at 50,000, which will act as resistance.

   • According to option chain analysis, the broader range for Bank Nifty has shifted to 49,000–51,000.

   • Bank Nifty’s put-call ratio increased by 0.17 and is now positioned at 1.20.

US Share Market News

1. Performance Overview:

   • Wall Street indexes fell on Tuesday as a two-day rebound from six-month lows largely petered out. Tech losses weighed, as did persistent concerns over higher Trump tariffs and a recession fear. 

2. Sector-Specific Movements:

   • Trump repeated his threats that reciprocal tariffs against major U.S. trading partners will be enforced from April 2. He also reiterated plans for automobile and commodity tariffs. Trump has warned of some near-term economic turbulence as he carries out his agenda. Investors fear that trade-related disruptions will undermine U.S. economic growth.

   • The S&P 500 fell 1.1% to 5,614.67 points, while the NASDAQ Composite slid 1.7% to 17,504.12 points on Tuesday. The Dow Jones Industrial Average fell 0.6% to 41,581.31 points. 

   • Among tech decliners, NVIDIA Corporation slid over 3%, extending a recent downturn even as its CEO said the chipmaker was well placed to capitalize on a shift in artificial intelligence towards inference from training. The stock fell 0.6% in after hours trade.

3. Economic Indicators:

• The Federal Reserve is widely expected to leave its benchmark interest rate unchanged at 4.50% on Wednesday, its second consecutive meeting of keeping interest rates unchanged. 

• The central bank had kept rates steady in January after reducing them by 1% through 2024. While this was driven chiefly by signs of cooling inflation, price pressures were seen turning sticky through late 2024. 

Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point expert analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates and the trade set up for today, in one place to make wise investment decisions.

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