Morning Update :
NIFTY:
Nifty 50 witnessed a sharp decline in the previous session, breaking below the 200-EMA on the daily chart. The near-term trend remains weak, with immediate support placed around the 25,100 gap zone with next support at 25000. However, the PCR has slipped into oversold territory, suggesting the possibility of a short-term technical bounce. The index is likely to witness a mildly weak opening amid ongoing geopolitical tensions.
BANK NIFTY:
Nifty Bank slipped below its short-term support in the previous session and extended losses through the day, closing near the day’s low; the near-term trend remains weak with the next key support placed around 60,000.
Nifty 50
Support Level : 25000
Resistance Level : 25400
Bank Nifty
Support Level : 60000
Resistance Level : 61000
Stocks in news
- Hero MotoCorp – February wholesales jumped 44% YoY to 5,58,216 units.
- Bharti Airtel & Google – Partnered to detect and curb spam messages containing malicious web links.
- Godrej Agrovet – Banking on new crop launches to drive growth revival.
- Honda Cars India – February sales declined 30.11% YoY to 7,212 units.
- Mahindra & Mahindra (Auto) – Total sales at 97,177 units, broadly inline with estimates.
- SML Isuzu – February sales rose 17% YoY to 1,503 units.
- Maruti Suzuki India – February sales at 2.13 lakh units, slightly below estimates.
- Escorts Kubota Limited – Total sales at 10,339 units, largely inline with expectations.
- Hyundai Motor India – February sales at 66,134 units, marginally above estimates.
- Eicher Motors (CV) – Commercial vehicle sales at 9,986 units, broadly inline.
- Tata Motors (CV) – CV sales at 42,940 units, slightly above estimates.
- VST Tillers Tractors – Power tiller & tractor sales surged 36% YoY to 4,435 units.
- Tata Motors (PV) – Passenger vehicle sales at 63,300 units, marginally below estimates.
Quick Takeaways
- Power consumption grows marginally by 1.86% to 132.99 bn units in Feb
- SUV demand, GST relief power double-digit auto sales growth in February
- Tata Trusts stand on Chandrasekaran unchanged amid Noel's concerns
- Volvo Car India drops 2030 electric-only target, recalibrates EV roadmap
- UPI volumes dip in February on fewer days even as daily averages rise
- Net GST revenue collection up 7.9% at ₹1.61 trillion in February
- Rice exporters warned against CIF contracts to Iran amid West Asia crisis
- Domestic travel surges ahead of Holi as bookings jump across categories
- NCLAT upholds personal insolvency against Dhoot brothers in Videocon case
- OPEC+ hikes oil production by more than expected following outbreak of Iran war
- Gulf businesses reel as Iran strikes trigger regional shutdowns
- Mumbai property market records best ever February
- War impact on India Inc’s energy costs to be sector specific
- IMFA completes ferro chrome plant acquisition from Tata Steel at Rs 707 crore transaction
- Bharti Airtel collaborates with Google for AI-driven spam protection
- Maersk suspends Hormuz transit after 2 ships targeted amid US-Iran tensions
- Hedge Funds, Banks Forced Into Contingency Mode in the UAE
- Air India extends flight cancellations in UAE, Qatar, others amid tensions
- Nvidia plans AI overhaul with new chip launch next month — Key things to know
- Berkshire Hathaway’s Abel Vows Firm Will Thrive Beyond Buffett
- Pentagon turns to OpenAI amid spat with Anthropic: Altman seals deal
- MFS Creditors Warn of £930 Million Shortfall
F&O Stocks in Ban :
- SAMMAANCAP