Bourses trade in green in early afternoon session

Indian equity markets continued their trade in green territory in early afternoon session despite mixed cues from other Asian markets. Traders awaited for Federal Reserve’s rate decision. Traders took note of report that Commerce Minister Piyush Goyal has said that India and New Zealand are working to finalize a comprehensive and mutually beneficial Free Trade Agreement (FTA). The two countries had announced the launch of negotiations for an FTA earlier this week. Goyal emphasized the immense potential for collaboration between the two countries. Sector wise, sugar stocks remained in limelight as Indian Sugar and Bio-Energy Manufacturers Association (ISMA) in its latest report affirmed that the availability of sugar is stable and sufficient for the ongoing 2024-25 (October–September) marketing season. On the global front, Asian markets are trading mixed as Japan's industrial production decreased for the third straight month as initially estimated in January. Industrial production fell a seasonally adjusted 1.1 percent month-on-month in January, following a revised 0.3 percent fall in December. 

The BSE Sensex is currently trading at 75465.17, up by 163.91 points or 0.22% after trading in a range of 75201.48 and 75514.13. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 1.78%, while Small cap index was up by 1.80%.

The top gaining sectoral indices on the BSE were Utilities up by 2.19%, Power up by 1.97%, Industrials up by 1.96%, PSU up by 1.88% and Realty was up by 1.85%, while IT down by 1.55%, TECK down by 1.01% and FMCG was down by 0.25% were the few losing indices on BSE.

The top gainers on the Sensex were Zomato up by 3.78%, Tata Steel up by 2.46%, Power Grid up by 2.07%, Adani Ports up by 1.69% and NTPC up by 1.57%. On the flip side, TCS down by 2.40%, Tech Mahindra down by 2.18%, HCL Tech down by 2.03%, Infosys down by 1.86% and ITC down by 1.14% were the top losers.

Meanwhile, with an aim to ease the liquidity crunch, the Reserve Bank of India (RBI) has decided to conduct open market operation (OMO) purchase auction of Government of India securities for an aggregate amount of Rs 50,000 crore to be held on March 25, 2025. The central bank will purchase Government securities through a multi-security auction using the multiple price method.

Further, the Reserve Bank reserves the right to decide on the quantum of purchase of individual securities; accept bids for less than the aggregate amount; purchase marginally higher/lower than the aggregate amount due to rounding-off; and accept or reject any or all the bids either wholly or partially without assigning any reasons.

The result of the auction will be announced on the same day and successful participants should ensure availability of securities in their SGL account by 12 noon on March 26, 2025. In the recently held OMO Purchase auction on March 18, 2025, the Reserve Bank of India received bids exceeding twice the notified amount (i.e. Rs 1,01,114 crore against the notified amount of Rs 50,000 crore).

The CNX Nifty is currently trading at 22904.35, up by 70.05 points or 0.31% after trading in a range of 22807.95 and 22914.45. There were 33 stocks advancing against 17 stocks declining on the index.

The top gainers on Nifty were Shriram Finance up by 5.36%, HDFC Life Insurance up by 2.98%, Apollo Hospital up by 2.51%, Tata Steel up by 2.42% and Power Grid up by 2.09%. On the flip side, TCS down by 2.40%, Tech Mahindra down by 2.19%, Infosys down by 1.94%, HCL Tech down by 1.93% and ITC down by 1.06% were the top losers.

Asian markets are trading mixed; Jakarta Composite gained 58.96 points or 0.95% to 6,282.35, Hang Seng advanced 27.71 points or 0.11% to 24,768.28, KOSPI increased 16.28 points or 0.62% to 2,628.62 and Straits Times was up by 12.67 points or 0.33% to 3,907.64. On the flip side, Shanghai Composite weakened 5.53 points or 0.16% to 3,424.23, Nikkei 225 slipped 93.54 points or 0.25% to 37,751.88 and Taiwan Weighted was down by 310.84 points or 1.42% to 21,960.83.