POST-MARKET SUMMARY 18th March 2025
On March 18, Indian equity indices continued their positive momentum for the second consecutive session, fuelled by strong buying across various sectors and broader indices. All sectoral indices ended in the green, with auto, capital goods, consumer durables, metal, power, realty, and media sectors seeing gains of 2-3%, contributing to the overall upward movement.
NIFTY: The index opened 154 points higher at 22,662 and made a high of 22,857 before closing at 22,834. Nifty has formed a long bullish candle on the daily chart. Its immediate resistance level is now placed at 22,950 while its immediate support is at 22,750.
BANK NIFTY: The index opened 438 points higher at 48,792 and closed at 49,314. Bank Nifty has formed a long bullish candle on the daily chart after a gap-up. Its immediate resistance level is now placed around 49,500 while immediate support is around 49,100.
Stocks in Spotlight
▪ IREDA: Stock jumped over 5%, breaking a six-day losing streak, after the company raised its borrowing limit by Rs 5,000 crore for the ongoing fiscal year.
▪ Centum Electronics: Stock surged up to 15%, extending gains for a second day, with trading volumes surpassing the 10-day average. This followed the company's successful raise of Rs 210 crore through a qualified institutional placement (QIP).
▪ Senco Gold: Stock was locked at the 5% upper circuit after promoter Suvankar Sen acquired 161,000 shares, representing a 0.01% stake in the company, through the open market.
Global News
▪ Asia-Pacific markets rose on Tuesday, tracking gains on Wall Street, which ticked up after U.S. retail sales data appeared to ease recession concerns.
▪ European markets traded in positive territory on Tuesday, with investor focus turning to the German government as it prepared to vote on historic debt reforms.
▪ U.S. stocks traded lower on Tuesday, with the S&P 500 dropping 0.4%, the Dow Jones falling by around 130 points, and the Nasdaq declining 0.8%, following gains in the previous two sessions.
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