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Informist, Monday, Mar. 10, 2025

 

By Akshita Kumar

 

MUMBAI – The benchmark indices ended lower Monday, snapping a three-day winning streak. Losses in select stocks in the oil and gas and financial services sectors dragged the Nifty 50 down. The 50-stock index, which had risen as much as 0.5% during the day, fell by almost the same percentage during the final hour of trade on selling for profit, analysts said. The uncertainty around the possible impact of US President Donald Trump's tariffs also affected sentiment.

 

The Nifty 50 faced selling pressure near its 20-day moving average of 22693 points, Jay Vora, market research (technical) analyst at Indiacharts, said. Monday, the Nifty 50 ended at 22460.30 points, down 92.20 points or 0.4%, after falling below its key support level of 22500 points during the last hour of trade. The BSE Sensex ended at 74115.17 points, down 217.41 points or 0.3%.

 

Broader market indices ended down after being mixed for most of the trading session. The Nifty mid-cap indices ended 1.4-1.5% lower and the small-cap indices ended down around 2%.

 

Shares of Oil and Natural Gas Corp. ended over 4% lower and were among the worst hit in the Nifty 50 index. The stock snapped a four-day winning streak during which it had gained over 5%. Shares of index heavyweight Reliance Industries ended down nearly 1%, snapping a three-day gaining streak. Owing to this, the Nifty Oil and Gas index ended down almost 2%, snapping a four-day gaining streak. It was among the worst hit sectoral indices, with most of its constituents in the red.

 

IndusInd Bank, Kotak Mahindra Bank, and State Bank of India ended 0.5-3.9% lower. Shares of IndusInd Bank fell as much as 6% to an intraday low of INR 881.10, the lowest level since July 2022. The stock fell after the Reserve Bank of India reduced the tenure of the bank's Chief Executive Officer Sumant Kathpalia to one year against the board's recommendation of three years.

 

Shares of Trent ended down 4%, extending losses for the third straight session. Brokerage Kotak Institutional Equities cut the stock's target price to INR 5,150 from INR 5,550, but maintained its 'reduce' rating on the stock, according to media reports. The downgrade was owing to concerns about the company's store expansion strategy and revenue throughput, media reports said.

 

Automobile stocks Bajaj Auto, Eicher Motors, and Hero MotoCorp ended down 2.0-2.5%. All three stocks snapped a three-day winning streak. Stocks of auto companies fell after media reports said India may have to reduce tariffs significantly across sectors, especially on automotive products, as part of a bilateral trade agreement with the US. These include moves to trim tariffs on high-end motorcycles to 100% from 110%, the reports said.

 

Shares of Dixon Technologies (India) and Kalyan Jewellers India each ended 5.6% lower, and were among the worst hit in the Nifty 200 index. Shares of capital market-focused companies 360 One WAM and JM Financial ended down over 7% and were among the worst hit in the Nifty 500 index. Shares of BSE ended down 4.3%, extending losses for the fourth straight session on anticipation of a drop in market share. The National Stock Exchange had last week announced a change in the expiry day for its derivative contracts to Monday from Thursday, effective Apr. 4. This will reduce volumes for the industry as trading avenues for retail traders, who are typically more active closer to expiry, will reduce, brokerage Nuvama Institutional Equities said in a research report. The brokerage said BSE's market share might fall to 18%, from the 22% share the exchange had in February.

 

Shares of Power Grid Corp. of India ended up 3% to be the top gainer in the Nifty 50 index. Shares of fast-moving consumer goods companies Hindustan Unilever and Nestle India ended up 2% and 0.4%, respectively.

 

Shares of Solar Industries India ended up nearly 4% and was the top gainer in the Nifty 200 index. Solar Industries is likely to be the biggest beneficiary in the Indian defence sector of the European Union's increased spending on security, a research analyst at a broking firm said. Shares of Dr. Lal Pathlabs and Godrej Industries each ended up over 4% to be the top performers in the Nifty 500 index.

 

Among sectoral indices, the Nifty FMCG was the only one to end with gains. The index ended up 0.2%, extending its gains for the fourth straight session. Nifty Realty and Nifty PSU Bank each ended down 2% and were among the worst-hit sectoral indices.

 

* Of the Nifty 50 stocks, 13 rose and 37 fell

* Of the Sensex stocks, 9 rose and 21 fell

* On the NSE, 607 stocks rose, 2,308 fell, and 73 were unchanged

* On the BSE, 1,203 stocks rose, 2,877 fell, and 149 were unchanged

* Nifty Realty: down 2%; Nifty Oil & Gas: down 1.9%; Nifty FMCG: up 0.2%

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BSE                                               NSE

Sensex: 74115.17, down 217.41 points or 0.3%      Nifty 50: 22460.30, down 92.20 points or 0.4%

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S&P BSE Sensitive Index	Nifty 50
Lifetime High: 85978.25 (Sept. 27, 2024)	: Lifetime High: 26277.35 (Sept. 27, 2024)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26216.05 (Sept. 26, 2024)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 79943.71 (Jan. 2)	: 2025 Closing High: 24188.65 (Jan. 2)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 80072.99 (Jan. 3)	: 2025 High (intraday): 24226.70 (Jan. 2)
2025 Low (intraday): 72633.54 (Mar. 4)	: 2025 Low (intraday): 21964.60 (Mar. 4)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

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End

 

Edited by Rajeev Pai

 

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