The Indian equity markets ended on a flat note amid high volatility on March 3, 2025.
IRCTC upgraded to Navratna status; share price hits 52-week low https://t.co/N0yYVkm34p
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The BSE Sensex closed at 73,085.94, down by 112.16 points or 0.15 percent, while the NSE Nifty settled at 22,119.30, a decline of 5.40 points or 0.02 percent. The market witnessed mixed cues from both domestic and global fronts.
Better domestic data points, such as improved GDP figures and rising GST collections, provided some support. However, uncertainty over global trade and the Ukraine peace deal weighed on investor sentiment.
#ETNOWExclusive | Govt reviews the status of key infrastructure projects in the country, as per sources
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Despite positive global cues initially lifting the Indian indices, the market turned negative early in the session, dragging the Nifty close to the 22,000 level during the first half.
#MarketsWithMC | #Sensex and #Nifty50 are likely to open higher on March 3 tracking cues from GIFT Nifty trading around 22,358
Here is how financial markets across the globe fared overnight👇https://t.co/Id6mcz39xe#Stocks #StockMarket #Trading #Markets
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Buying in the latter part of the day helped erase some of the intraday losses, ending the day with moderate declines. Among the gainers on the Nifty were Bharat Electronics, Eicher Motors, Grasim Industries, BPCL, and JSW Steel.
Markets reflect mixed investor sentiment
For investors who started investing after the pandemic, this is the first real market correction. Markets are cyclical, and given the way our markets went up from late 2020, this fall was inevitable. I don't know how good the data is, but it seems like the number of investors… pic.twitter.com/VmxZbdCVTT
— Nithin Kamath (@Nithin0dha) March 3, 2025
On the other hand, Coal India, Reliance Industries, Bajaj Finserv, HDFC Bank, and Bajaj Auto were among the major losers. In the broader market, the BSE Midcap index was up 0.25 percent, while the smallcap index fell by 0.7 percent. Sectorally, media, PSU banks, and oil & gas sectors were down by 0.3-1 percent, whereas consumer durables, IT, metal, and realty sectors saw gains of 0.5-1 percent.
Ajit Mishra, SVP Research at Religare Broking, commented, “Markets began the week on a volatile note but ended flat amid mixed cues. Despite a brief uptick, the Nifty index struggled to hold gains, reflecting cautious sentiment among investors given the global uncertainties and foreign fund outflows.”
The Indian rupee ended 15 paise higher at 87.36 per US dollar compared to Friday’s close of 87.51. Dilip Parmar, a Research Analyst at HDFC Securities, highlighted, “The Indian rupee strengthened due to stabilization efforts by the RBI and an upsurge in foreign exchange reserves.”
In corporate news, Sony Music Publishing renewed an exclusive global deal with Tips Music, expanding their partnership to include YouTube for international publishing exploitation, excluding India.
Morgan Stanley maintained an ‘overweight’ call on IGI with a target price of Rs 617, while Jefferies maintained a ‘buy’ rating on Polycab India, though it cut the target price to Rs 6,485 from Rs 7,700. The market’s performance reflected investors’ cautious sentiment amid mixed indicators, both domestically and globally. Investors are advised to maintain a cautious stance and focus on strategic stock selection, especially in the banking sector, which could provide key indicators for future market trends.
