The Indian stock market extended its rally for the sixth consecutive session on Monday, marking its longest winning streak since September 2024. Both the NSE Nifty 50 and BSE Sensex closed significantly higher, backed by strong institutional buying and bullish sentiment across sectors.
Market Recap: Nifty and Sensex Surge
- Nifty 50: Gained 307.95 points (+1.32%) to close at 23,658.35.
- Sensex: Jumped 1,078.87 points (+1.4%) to end at 77,984.38.
- Foreign Portfolio Investors (FPIs): Net buyers for the third consecutive session, purchasing Rs 3,055.8 crore worth of equities.
- Domestic Institutional Investors (DIIs): Also turned net buyers, adding Rs 98 crore to their holdings.
Stocks to Watch Today
Corporate Developments & QIP Announcements
- Restaurant Brands Asia (Burger King India) launched its Qualified Institutional Placement (QIP) at a floor price of Rs 62.32 per share.
- UCO Bank and Punjab & Sind Bank also opened QIP issues, with floor prices set at Rs 36.07 and Rs 40.38 per share, respectively.
- ICICI Securities has been delisted and is now a wholly owned subsidiary of ICICI Bank.
Major Announcements & Appointments
- GIC Housing Finance: Appointed Sachindra Salvi as MD & CEO.
- Cholamandalam Investment & Finance Co: Vellayan Subbiah appointed as Executive Chairperson.
- Canara Bank: S K Majumdar appointed as Executive Director for three years.
- HCL Technologies: Partnered with Western Union Co. to set up a tech center in Hyderabad.
- Mahindra & Mahindra: Denied reports of stake acquisition in SML Isuzu, stating it is evaluating strategic opportunities.
Key Acquisitions & Investments
- Easy Trip Planners: Acquired 4.4 acres in Bengaluru with a development value of Rs 950 crore.
- Hyundai Motor India: Investing Rs 694 crore to establish a new tooling center for stamping tool and panel production.
- Sterling & Wilson Renewable Energy: Appointed Ajit Pratap Singh as CFO.
- Jupiter Life Line Hospitals: Secured a Rs 350 crore loan from HDFC Bank.
Bulk Deals & Insider Trades
- SG Finserve: Market veteran Madhusudan Kela bought 9.51 lakh shares (1.7%) at Rs 350.01 apiece.
- Texmaco Infrastructure: Adventz Finance Pvt. purchased 31,000 shares.
- Bliss GVS Pharma: Vibha Gagan Sharma acquired 25,000 shares.
- Apollo Hospitals: Karthik Anand bought 929 shares.
F&O Cues & Market Sentiment
- Nifty March Futures: Up 1.45% at 23,699 (Premium: 41 points).
- Max Call OI: At 25,000.
- Max Put OI: At 22,500.
- Securities in Ban Period: IndusInd Bank.
Rupee & Global Currency Updates
- The Indian Rupee strengthened by 33 paise to close at 85.64 per US dollar, hitting a two-month high amid the RBI’s $10 billion buy-sell swap.
Trading Tweaks & Regulatory Updates
- Price Band Adjustments:
- 10% to 5%: JNK India, Zen Technologies.
- 5% to 2%: Aditya Birla Money.
- 5% to 10%: Kesoram Industries.
- 20% to 10%: Balu Forge Industries, Ksolves India.
- Dividend Announcements: Mishra Dhatu Nigam, Ksolves India (Ex-Record Date).
- ASM Framework Adjustments:
- Short-Term ASM (Stage 1): Balu Forge Industries, Panacea Biotec, SML Isuzu.
- Excluded from ASM: Ken Enterprises.
Upcoming Analyst & Investor Meetings
- Himadri Speciality Chemical: March 27-28.
- Star Health and Allied Insurance Co.: March 27.
- Sanathan Textiles: March 27.
Expert Insights & Market Outlook
With Nifty 50 approaching 24,000 levels, analysts expect short-term profit booking but remain bullish on the broader market trend. Investors should watch for institutional flows, global cues, and F&O data to gauge market direction. The focus will be on QIP issues, banking sector movement, and currency stability amid RBI’s recent intervention.
What’s Next?
Traders should track key resistance and support levels while staying updated on global market trends. For long-term investors, staying invested in fundamentally strong sectors like banking, IT, and auto could prove beneficial.
What are your thoughts on the current market trends? Drop your comments below and share this update with fellow traders!
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Disclaimer:
The information provided in this article is for informational and educational purposes only and should not be considered as financial advice. Stock market investments are subject to market risks, and past performance is not indicative of future results. Readers are advised to conduct their own research and consult with a certified financial advisor before making any investment decisions. The author and publisher are not responsible for any financial losses incurred based on the information provided.
