POST-MARKET SUMMARY 6th March 2025

On March 6, the Nifty 50 hit a two-week high, extending gains. Markets opened strong, erased early gains, and rebounded on optimism from Asian markets after US President Trump delayed auto tariffs and crude oil stayed below $70 per barrel. All sectoral indices ended in the green except real estate, with FMCG, metal, oil & gas, and pharma rising 1-2%.

NIFTY:  The index opened 139 points higher at 22,476 and made a high of 22,556 before closing at 22,544. Nifty has formed a bullish candle on the daily chart. Its immediate resistance level is now placed at 22,670 while its immediate support is at 22,450. 

BANK NIFTY: The index opened 271 points higher at 48,760 and closed at 48,627. Bank Nifty has formed a bearish candle on the daily chart. Its immediate resistance level is now placed around 48,850 while immediate support is around 48,350.  

Stocks in Spotlight

▪  Railtel Corporation: Stock jumped over 6% intraday after the company secured a Rs 262.33 crore order from the State Transport Authority of Odisha to upgrade the Command Control Centre and implement an Intelligent Enforcement Management System.

▪  Hexaware Technologies: Stock gained 2% after the company announced a partnership with the San Francisco Unicorns, a Major League Cricket (MLC) team. The collaboration includes branding on the team’s helmets and caps, along with perimeter signage at matches.

▪  Asian Paints: Stock surged nearly 5%, driven by a broader market upswing as crude oil prices hit multi-year lows. The drop in crude costs benefits industries reliant on crude derivatives, easing input costs for paint makers and boosting margins.

Global News

▪  European stocks gave up earlier gains and edged lower, with the STOXX 50 slipping 0.5% and the STOXX 600 down 0.6%, as investors turned cautious ahead of the European Central Bank’s upcoming policy decision.

▪  US futures fell on Thursday, with S&P 500 and Nasdaq 100 futures down about 1%, while the Dow Jones lost over 300 points.

▪  Gold hovered around $2,920 per ounce on Thursday, near record highs, supported by a weaker US dollar and safe-haven demand amid uncertainties surrounding US trade policy.

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