Markets Start the Week on a Strong Note

Indian benchmark indices ended higher on Monday, March 17, 2025, providing some relief to investors amid sectoral strength in pharma, healthcare, and financial services.

• Nifty 50: 22,508 (+0.50%)

• Sensex: Not specified

• Nifty Midcap 100: +0.70%

• Nifty Smallcap 100: +0.48%

Despite opening lower by 44 points, Nifty quickly recovered and reached an intraday high of 22,577 in the first 30 minutes. However, it failed to break past the highs of the last five trading sessions. Cash market volumes on NSE increased by 4%, signaling improving participation.

Sectoral Performance

• Top Gainers: Pharma, Healthcare, and Financial Services led the gains.

• Lagging Sectors: Media, Realty, and PSU Banks closed in the red.

Market Highlights & Key Drivers

• ICICI Bank was the biggest contributor to Nifty’s gains, rising 1.5%, while Dr. Reddy’s Laboratories led the pack with a 3.9% increase.

• Rupee Strengthens: The Indian rupee appreciated by 21 paise, trading around 86.50 per USD, benefiting from a weaker dollar.

• Metal Stocks Rally: China’s new policies to boost domestic consumption provided a lift to Indian metal stocks.

• US Dollar Index Declines: The index touched a five-month low, as economic concerns and trade uncertainties weighed on the U.S. currency.

• Global Focus on Central Banks: Investors are monitoring the upcoming Federal Reserve (Fed) and Bank of Japan (BOJ) meetings, with expectations of a cautious stance on rate hikes due to tariff-related inflation risks.

Top Gainers & Losers

Top Gainers

🔹 Elgi Equipments Ltd. (ELGIEQUIP) 🛠️ – +16.80% to ₹518.00

🔹 KEC International Ltd. (KEC) ⚡ – +8.20% to ₹726.70 (on ₹1,267 crore new orders)

🔹 Vijaya Diagnostic Centre Ltd. (VIJAYA) 🏥 – +5.84% to ₹1,072.70

Top Losers

🔻 Firstsource Solutions Ltd. (FSL) 💻 – -7.68% to ₹279.40

🔻 Mastek Ltd. (MASTEK) 📊 – -6.48% to ₹2,104.15

🔻 JM Financial Ltd. (JMFINANCIL) 💰 – -5.73% to ₹84.00

Key Corporate Developments

• Ola Electric: Faces insolvency claims from Rosmerta Digital over payment disputes.

• Dr. Reddy’s: Recalls Levetiracetam in the U.S. due to mislabeling issues.

• Tejas Networks: Received ₹123 crore PLI incentive from the telecom department.

• Zydus Lifesciences: Cleared USFDA inspection at its Ankleshwar API unit with no issues.

• Angel One: Chief Data Officer Deepak Chandani resigns, replaced by Rohit Chatter.

• Welspun Specialty: Secured a ₹232 crore contract from BHEL for steel boiler tubes.

• KEC International: Won ₹1,267 crore worth of transmission & cable orders.

• SpiceJet: Promoter Ajay Singh sold 0.9% stake worth ₹52.3 crore.

Global Economic Calendar – Key Events to Watch

• March 19, 2025 – U.S. Federal Reserve Interest Rate Decision

• March 20, 2025 – Bank of Japan Policy Meeting

• March 21, 2025 – Eurozone CPI Inflation Data Release

For a detailed market outlook and key levels, watch our latest YouTube update. Stay informed and make data-driven investment decisions!