Market Commentary - Mid-Session
18-Mar-2025 12:32
Nifty above 22,750 mark; consumer durables shares rally for 2nd day
At 12:25 IST, the barometer index, the S&P BSE Sensex, advanced 837.31 points or 1.13% to 75,006.33. The Nifty 50 index rallied 248.20 points or 1.10% to 22,756.95.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 1.58% and the S&P BSE Small-Cap index jumped 2.21%.
The market breadth was strong. On the BSE, 2726 shares rose and 1122 shares fell. A total of 153 shares were unchanged.
Economy:
India's merchandise exports during February 2025 were $36.91 billion as compared to $41.41 billion in February 2024, recording a slide of around 11%. Merchandise imports during February 2025 were $50.96 billion as compared to $60.92 billion in February 2024, down 16.34%. Merchandise exports during April-February 2024-25 were $ 395.63 billion as compared to $395.38 billion during April-February 2023-24.
Merchandise imports during April-February 2024-25 were $656.68 billion as compared to $621.19 billion during April-February 2023-24. Merchandise trade deficit during April-February 2024-25 was $261.06 billion as compared to $225.81 billion during April-February 2023-24.
Dervatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.37% to 13.37. The Nifty 27 March 2025 futures were trading at 22,809.05, at a premium of 52.1 points as compared with the spot at 22,756.95.
The Nifty option chain for the 27 March 2025 expiry showed a maximum call OI of 64.9 lakh contracts at the 23,000 strike price. Maximum put OI of 84.5 lakh contracts was seen at 22,500 strike price.
Buzzing Index:
The Nifty consumer Druables added 2.18% to 35,423.10. The index jumped 2.42% in the two trading session.
Blue Star (up 6.17%), Century Plyboards (India) (up 4.61%), V-Guard Industries (up 4.4%), Cera Sanitaryware (up 4%) and Havells India (up 3.26%) were the top gainers. Among the other gainers were Kajaria Ceramics (up 2.67%), Amber Enterprises India (up 2.65%), Rajesh Exports (up 2.43%), Bata India (up 2.42%) and Dixon Technologies (India) (up 1.91%) advanced.
Stocks in Spotligh:
Bajaj Finserv declined 1.70%. The company has signed Share Purchase Agreements (SPAs) to acquire Allianz SE's 26% stake in Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC), gaining full ownership.
Life Insurance Corporation of India (LIC) rose 1.13% after company's board has approved the appointment of Shatmanyu Shrivastava as chief risk officer (CRO), with effect from 19 March 2025.
Shilpa Medicare soared 9.70% after the company's wholly owned subsidiary, Shilpa Biologicals, inked a strategic partnership with Switzerland-based mAbTree Biologics AG to co-develop and manufacture a novel immuno-oncology therapy.
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