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Company Overview: nVent Electric plc (NVT) and its subsidiaries are involved in the design, production, marketing, installation, and maintenance of electrical connection and protection solutions. The...

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HomeNewsIndian NewsMorning Update:-Nifty near 22,000, Sensex up 570 points today; IT, metals, and...

Morning Update:-Nifty near 22,000, Sensex up 570 points today; IT, metals, and banks shine.

Morning Update :BPCL, Tata Steel, Hindalco, IndusInd Bank and JSW Steel were among major gainers on the Nifty, while losers were Nestle, Britannia, Dr Reddy’s Labs, Hero MotoCorp and HUL.

Sensex – Rise  +558 Points at  72,660

Nifty 50 – Rise +170 Points at 22,009

 Indian Market 


FII Sold    2,599.19 Cr
DII Bought    2,667.52 Cr
on last session

 Indian Market News

  1. Wall Street finishes higher as the Fed keeps three rate decreases on the horizon.
  2. The dollar falls as the Fed maintains its stance, while the Australian dollar rises in response to the jobs report.
  3. US Fed holds benchmark lending rate steady; officials still expect three rate decreases this year.
  4. Asian markets trade higher, with the Nikkei, Hang Seng, and Kospi up 1–1.5 percent.
  5. Krystal Integrated Services will launch equity shares on bourses on March 21.
  6. Wipro has appointed Anne-Marie Rowland as CEO of Capco.
  7. Trust Fintech announces IPO price band at Rs 95-101; sale will open on March 26.
  8. Wockhardt launches QIP offering with a floor price of Rs 544.02 per share.
  9. Gold surges to record high as Fed maintains 2024 rate-cut forecast.
  10. The REC board will evaluate the market borrowing programme for FY25.
  11. Oil rebounds as U.S. crude and petrol stockpiles shrink, providing some support.
  12. HDFC Bank’s board will meet on April 20 to approve FY24 earnings and decide dividends.
  13. Prince Pipes buys bathware brand Aquel and a facility in Gujarat for Rs 55 crore.
  14. Rail Vikas Nigam emerged as the lowest bidder for the project for Rs 167 crore.

Global Markets updates

GIFT Nifty

The GIFT Nifty, which gained 146 points, or 0.67 percent, suggests that the Indian stock market is off to a great start. The 22,071 mark was the focal point of the Nifty futures trade.

US Market

Following the Federal Reserve’s decision to maintain borrowing costs steady and to bolster predictions that rates may be lowered as many as three times this year, Wall Street’s major stock indexes ended the day higher on Wednesday.

In its policy statement, the Fed maintained its “elevated” view of inflation, increased its forecasts for economic growth, and decreased its predictions for the unemployment rate from its December estimates.

The S&P 500 gained 46.11 points, or 0.89 percent, to 5,224.62, the Nasdaq Composite gained 202.62 points, or 1.25 percent, to 16,369.41, and the Dow Jones Industrial Average increased by 401.37 points, or 1.03 percent, to 39,512.13.

Asian Market

The Federal Reserve reaffirmed its prediction for three rate decreases while retaining the Federal Funds rate at 5.25–5.5 percent, which caused the Nikkei to reach a new all-time high as Asian markets rose.


On Wednesday, the dollar strengthened for the sixth straight session as investors stood pat in anticipation of what might be a pivotal Federal Reserve meeting later in the day, while the stock and bond markets saw little movement.

Gold Prices

As traders awaited Chair Jerome Powell’s comments later in the day and the Federal Reserve’s interest rate signalling at the conclusion of the U.S. central bank meeting, gold remained mostly unchanged on Wednesday.

Crude Oil

Following their multi-month highs in the previous session, oil prices declined on Wednesday as investors prepared for the US Federal Reserve’s interest rate policy announcement later in the day.

News Updates

Key lending rate is maintained by the US Fed

Despite a recent spike in inflation, Federal Reserve officials continued to project three quarter-point rate reduction this year but fewer cuts than before in 2025.

For the fifth consecutive meeting, officials unanimously agreed to maintain the benchmark federal funds rate in the range of 5.25 to 5.5 percent, the highest since 2001. For the first time since March 2020, policymakers indicated they were still on course to lower rates this year. However, based on the median projection, they now only envision three rate reductions in 2025, down from four in December.

PSBs are instructed by NCLAT not to use force against IL&FS or its board.

Eleven public sector lenders have been ordered by the National Company Law Appellate Tribunal (NCLAT) to refrain from using coercive measures against IL&FS and its group entities until the tribunal’s next hearing on May 14. The Reserve Bank of India (RBI) and the banks were also served with letters by a two-member NCLAT panel led by Chairperson Justice Ashok Bhushan, requiring them to submit a response.

Stocks in news

Wipro: The IT services and consulting firm announced that Anne-Marie (Annie) Rowland has been named Capco’s CEO, effective April 1, 2024. Currently serving as Managing Partner for Capco’s UK and Ireland operations, Annie is a part of the company’s global leadership team.

Krystal Integrated Services: On March 21, the provider of facilities management services is scheduled to make its market debut on the exchanges. The price per share for the final issuance has been set at Rs 715. Analysts predict that the stock will open with modest increases.

Cyient: The IT services provider announced that Infotech HAL had applied to the National Company Law Tribunal in Bangalore to start the corporate bankruptcy resolution procedure under the bankruptcy and Bankruptcy Code (IBC). Cyient Limited and HAL have a 50:50 joint venture called Infotech HAL.

Rail Vikas Nigam: For the SER HQ-Electrical/South Eastern Railway’s Rs 167.28 crore electric traction system project, Rail Vikas Nigam placed the lowest bid.

Prince Pipes and Fittings: The supplier of plumbing solutions and Klaus Waren Fixtures have inked an asset purchase agreement for the purchase of the Aquel brand and facility in Bhuj, Gujarat, for a sum of Rs 55 crore.

Sasken Technologies: For a 60% ownership in Anups Silicon Services (ASSPL), the business has spent Rs 33.20 crore. ASSPL will join the company as a subsidiary as a result of this investment.

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