POST-MARKET SUMMARY 3rd March 2025

On March 3, Indian equity indices ended marginally lower amid high volatility, driven by mixed cues. Positive domestic data, including better GDP figures and rising GST collections, were overshadowed by uncertainty over global trade and the Ukraine peace deal. The Indian indices opened higher, fuelled by positive global cues, but turned negative in the initial hour.

On the sectoral front, media, PSU Bank, and oil & gas sectors fell by 0.3-1%, while consumer durables, IT, metal, and realty sectors rose by 0.5-1%.

NIFTY:  The index opened 70 points higher at 22,194 and made a high of 22,261 before closing at 22,119. Nifty has formed a bearish candlestick pattern on the daily charts. Its immediate resistance level is now placed at 22,200 while its immediate support is at 22,000. 

BANK NIFTY: The index opened 134 points higher at 48,478 and closed at 48,114. Bank Nifty has formed a bearish candlestick pattern with a lower shadow on the daily charts. Its immediate resistance level is now placed around 48,260 while immediate support is around 47,850.  

Stocks in Spotlight

▪  TVS Motor Company: Shares surged over 4% after the company reported strong February 2025 sales figures. Monthly sales grew 10% to 4,03,976 units, up from 3,68,424 units in February 2024.

▪  AstraZeneca Pharma: Shares rose over 2% after receiving regulatory approval to expand the use of Imfinzi for treating unresectable hepatocellular carcinoma (uHCC). The CDSCO authorized the import, sale, and distribution of Durvalumab (Imfinzi).

▪  Indian Overseas Bank: Shares dropped over 5% intraday after the company disclosed a ₹699.52 crore demand notice from the Deputy Commissioner, Chennai, for alleged GST liabilities for FY 2020-21, along with a ₹35.26 crore penalty.

Global News

▪  Euro strengthened to $1.04 at the start of March, bouncing back from a two-week low of $1.036 reached on Friday. The rise was driven by news of potential increases in Eurozone defence spending, which lifted market sentiment.

▪  Silver rose above $31 per ounce at the start of March, driven by a weaker dollar and safe haven buying amid concerns over shifting US trade policy.

▪  European markets rose on Monday, boosted by a 6% jump in defense stocks after security talks on increased military spending. The Stoxx 600 was up 0.59%.

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