Stock Market Highlights: Markets break 10-day losing streak. Nifty closes near 22,350, Sensex jumps 700 points

The Nifty 50 closed the sessions 265 points or 1.20% higher at 22,348 while the S&P BSE compiled Sensex finished 740 points or 1.01% higher at 73,730.

As of 3:00 PM IST, Sensex surged 0.98% 73,704.64, while Nifty gained 1.13% to 22,332.55. All sectoral indices traded in the green, with PSU, telecom, metal, and power indices rising 3% each. The BSE Midcap and Smallcap indices also gained 2.5% each.

Among top gainers, Adani Ports rose 4.93%, Tata Steel 4.81%, M&M 4.55%, Power Grid 4.05%, and NTPC 4.03%. On the downside, HDFC Bank fell 1.24%, IndusInd Bank 1.49%, and Bajaj Finance 3.10%.

Banking and financial companies’ stocks are trading lower since morning as the RBI has directed large finance companies to discontinue the practice of extending to companies a ‘line of credit’, according to a report by The Economic Times. It was directed by the lender of last resort over the concerns that the repayment structures inherent in these advances often disguise the stress faced by the borrower.

The share price of Adani Ports rose 5.7% to an intra-day high of Rs 1,118.65 after Sustainalytics upgraded ESG risk rating to “Negligible” risk compared to the previous “Low” risk rating, ranked second in the marine ports subindustry. It was the top gainer in the Nifty 50.

“The Indian equity market experienced a strong rebound on Wednesday, March 5, following recent sharp decline, as value buying emerged around the key support range of 21,700-22,000. This pullback can be attributed to several factors, including the strength in Asian markets, bargain buying in oversold stocks and value buying in blue-chip stocks,” said Bajaj Broking research.

“The Nifty index had been extremely oversold, having declined in 18 out of the last 19 trading sessions, making the pullback overdue from the deeply oversold zone. Nifty holding above the support area of 21,700-22,000 can lead to a pullback towards 22,800 levels in the coming sessions,” the brokerage added.

Adani Ports, Mahindra & Mahindra, Power Grid Corp, Adani Enterprises, and NTPC were the top gainers in the Nifty 50 on Marhc 05 during the afternoon trade. Bajaj Finance, HDFC Bank, IndusInd Bank, Grasim Industries, and Shriram Finane were the major losers.

Power Grid‘s share price jumped 5% to an intra-day high of Rs 266.75 after it was declared as the successful bidder under tariff-based competitive bidding for three projects. The company will establish an Inter-State Transmission System under build, own, operate, and transfer (BOOT) basis.

In the Sensex 30 pack, Power Grid surged 4.98%, followed by Adani Ports gaining 4.70%, M&M up 4.32%, NTPC rising 4.08%, and Tech Mahindra adding 3.61%. On the losing side, Zomato slipped 0.20%, IndusInd Bank declined 0.53%, HDFC Bank fell 0.69%, and Bajaj Finance dropped 2.78%.

Markets extended their gains in the afternoon trade, with the Sensex rising 820.63 points, or 1.12%, to 73,810.56, while the Nifty climbed 278.35 points, or 1.26%, to 22,361.00.

In the afternoon trade, all sectoral indices were in the green. The metal index rose 3%, while media gained 2%. Auto and IT sectors were up nearly 3%, while PSU, Realty, and Oil & Gas indices also climbed 2%.

Shares of Trent, M&M, PowerGrid, Tata Steel, and Adani Enterprises led the gains on the Nifty 50 benchmark. On the laggards side are Bajaj Finance, HDFC Bank, Grasim, IndusInd Bank and Shriram Finance.

The Nifty Metal index is trading nearly 3% higher. Hindustan Copper is leading the rally with a nearly 5% rise, followed by Welspun Corp, which is up 4.3%. Jindal Stainless has gained 3.6%, while Adani Enterprises is up 4%. Vedanta is also performing well, rising 3% in early trading.

The share price of Coforge rose 10% to the day’s high of Rs 7,933.60 on the National Stock Exchange. The surge in its share price came after its board approved the proposal for a stock split, being the first for the company.

The major gainers in the IT sector include Coforge, which is up 9%, followed by Persistent Systems rising 5%, and L&T Technology gaining 3%. Other leading gainers include Mphasis, LTIMindtree, and Tech Mahindra.

The Indian domestic indices are trading in the green, with all sectors showing positive momentum today. The Nifty Auto Index is up nearly 2%. Major gainers in the early hours include M&M and Samvardhana Motherson, both rising over 3%. Other notable gainers include Eicher Motors, Exide Industries, and TVS Motor.

In the early trading hours, the Sensex surged 560.44 points or 0.77%, reaching 73,550.37, while the Nifty climbed 179.05 points or 0.81% to 22,261.70. All sectoral indices were trading in the green.

US President Donald Trump doubled down on his trade tariff policy, criticising countries like India, the European Union, and China for what he called “unfair systems.”

He argued that these nations have imposed tariffs on American goods for decades, and now it’s time for the US to do the same. “India charges us auto tariffs 100%… the system is not fair to US, it never was… on April 2, reciprocal tariffs kick in, and whatever they tariff us, other countries, we will tariff them… whatever they tax us, we will tax them,” Trump stated. He also claimed that car manufacturing plants are rapidly opening in the US due to his election victory and trade policies.

“That’s a combination of the election win- and tariffs. It’s a beautiful word, isn’t it?” he remarked.

In the early trading hours, the major gainers in the Sensex 30 include M&M, PowerGrid, HCL Tech, Zomato, and NTPC. On the othr side, the laggards were Bajaj Finance, Bajaj Finserv, HDFC Bank, UltraTech Cement, and LT.

The Indian headline indices, Sensex and Nifty, opened on a positive note today. The Sensex gained 153 points or 0.21%, opening at 73,143.81. Similarly, the Nifty opened higher at 22,141.40, up 58.75 points or 0.27%.

In the pre-opening session, the Sensex slipped 148 points, trading at 72,841, while the Nifty declined 53 points to 22,029.

To boost economic stability, China has outlined key targets for 2025. The government aims to add 12 million urban jobs while keeping the unemployment rate around 5.5%. Growth remains a priority, with a GDP target of 5% and inflation capped at 2%. To support financial stability, China plans to maintain a 4% budget deficit and introduce 500 billion yuan in special bonds for major banks.

President Donald Trump took aim at countries like India for imposing high tariffs on American goods, stating that the US will introduce reciprocal tariffs starting April 2.

Trump said, “India and others charge the US huge tariffs. On April 2, reciprocal tariffs will kick in.”

Early trends from GIFT Nifty suggest a subdued start for Indian markets, with the index showing a slight decline of 15.5 points or 0.07 percent.

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