Market Rally Halts
The top Nifty gainers were Tata Motors, Bharti Airtel, Bajaj Auto, SBI, and ONGC, while the losers were Bajaj Finserv, Bajaj Finance, Nestle India, Infosys, and SBI Life Insurance.
Indian equity benchmarks, the Sensex and Nifty, ended their four-day winning run on March 5 due to mixed global cues and selling in information technology and FMCG names. The market started negatively and extended losses throughout the day, but buying in the second half narrowed the losses. The Sensex was down 195.16 points or 0.26% at 73,677.13.
At close, the Sensex was down 195.16 points or 0.26 percent at 73,677.13, and the Nifty was down 49.30 points or 0.22 percent at 22,356.30.
Sectors and stocks
The Nifty index saw top gainers Tata Motors, Bharti Airtel, Bajaj Auto, SBI, and ONGC, while losers included Bajaj Finserv, Bajaj Finance, Nestle India, Infosys, and SBI Life Insurance. Sectoral trends were mixed, with auto index rising 1.3%, PSU Bank index rising 2.5%, and oil and gas, electricity, and real estate all rising 0.5%. IT and FMCG indices fell 1% each. The BSE midcap index ended unchanged, while the smallcap index fell 0.6%.
Individual equities saw volume increases of over 500%, while significant build-ups were seen in Samvardhana Motherson International, Tata Chemicals, and Vedanta. Over 200 stocks hit 52-week highs on the BSE, including Bosch, Canara Bank, Capri Global, Castrol India, Elgi Equipments, Godfrey Phillips, JSW Holdings, Kirloskar Brothers, LIC Housing Finance, Samvardhana Motherson International, Schneider Infra, SMS Pharma, Tata Investment Corp, Tata Motors, Tata Motors DVR, TVS Motor, and Union Bank.
March 6 forecast
The Nifty opened flat and drifted lower in the first hour of trading, but recovered in the second half, closing down around 49 points. The daily charts suggest the Index is retesting the breakout of 22300 from last week. The hourly moving averages in the range of 22369 – 22264 are crucial support zones, and if the Nifty holds onto this zone, a next leg of upmove is expected. The initial target and immediate hurdle are 22460 – 22530, and the hourly momentum indicator has reached the equilibrium line, indicating that the fall may have matured.
Bank Nifty has been outperforming the Nifty, and the trend is expected to continue until support from NIFTY IT kicks in. The Bank Nifty’s levels are 47350 – 47300 and 48000 – 48200. Auto was the top performer, while IT and Media remained laggards. Buying traction was observed in selected Chemical and Pharma stocks, and mid and smallcaps corrected and underperformed the Benchmark Index. A convincing close above 22,420 is necessary to resume the uptrend.
| FII Sold | 564.06 Cr |
| DII Bought | 3,542.87 Cr |
Indian Market Stocks
| Sensex | -195.16 | -0.26% | 73,677.13 |
| Nifty 50 | -49.30 | -0.22% | 22,356.30 |
| Bank Nifty | 124.90 | +0.26% | 47,581.00 |
Market Movers
| Tata Motors | 34.70 3.51% | Bajaj Finserv | -68.80 -4.25% |
| Bharti Airtel | 35.40 3.12% | Bajaj Finance | -278.20 -4.21% |
| Bajaj Auto | 144.45 1.76% | Nestle | -50.45 -1.95% |
| ONGC | 4.55 1.63% | Infosys | -30.70 -1.88% |
| SBI | 11.90 1.54% | SBI Life Insura | -26.70 -1.76% |
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Market Rally Halts Market Rally Halts Market Rally Halts Market Rally Halts
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