The Indian stock market witnessed mixed trends today. The NIFTY 50 closed at 23,431.50, down by 95 points (-0.40%), while the SENSEX ended at 77,378.91, losing 241.30 points (-0.31%). The NIFTY BANK saw significant pressure, declining 769.35 points (-1.55%) to close at 48,734.15. In contrast, the NIFTY IT index surged by 1,483.05 points (+3.44%), driven by strong performance from IT stocks. The BSE Smallcap index dropped sharply by 1,298.66 points (-2.40%), reflecting a broad sell-off in small-cap stocks.
Stock Market Analysis & Market Sentiment
The market continued its downward trajectory due to a mix of global and domestic factors, including crude oil price surges, a strengthening dollar, and concerns over subdued economic growth. Analysts recommend a cautious approach with disciplined risk management, as the market remains under pressure ahead of Q3 earnings season and macroeconomic data releases.
The rupee hit a record low of 86 against the US dollar, weighed down by surging crude prices, FII outflows, and a strong dollar. Rising US treasury yields add further pressure. USDINR is expected to trade between 85.80-86.15, with potential RBI intervention offering some relief. Traders await US non-farm payrolls and consumer sentiment data for cues.
TCS: Strong Financial Performance Drives Share Surge
TCS shares surged by 5.62% after the company reported a 12% year-on-year (YoY) increase in its Q3 FY25 net profit, reaching ₹12,380 crore. Revenue also grew by 5.6% YoY to ₹63,973 crore, and operating margins improved by 40 basis points (bps) quarter-on-quarter (QoQ), reaching 24.5%. This robust performance underscores TCS’s operational efficiency and its ability to generate consistent revenue growth, resulting in heightened investor confidence.
Ceinsys Tech Ltd.: Secures Major Infrastructure Contract
Ceinsys Tech Ltd. (CS Tech Ai) saw its shares rise by 5% after securing a significant ₹381.18 crore contract for the Wainganga-Nal Ganga River-Linking Project in Maharashtra. This project focuses on survey, design, and the preparation of a detailed project report (DPR) to enhance water resource management. The contract positions Ceinsys Tech as an important player in the infrastructure and resource management sector, boosting its market visibility.
JSW Steel: Record Production Fuels Growth
JSW Steel reported its highest-ever quarterly consolidated crude steel production of 7.03 million tonnes for Q3 FY25, marking a 4% QoQ and 2% YoY increase. The company also achieved its highest-ever production in Indian operations, with 6.82 million tonnes. These record-breaking numbers reflect JSW Steel’s operational excellence and the ongoing strength in demand, contributing to its positive growth outlook.
SpiceJet: Expanding Fleet for Enhanced Operations
SpiceJet shares rose by 5.70% following the announcement that the airline plans to unground 10 aircraft, including four Boeing 737 MAX planes, by mid-April 2025. This expansion comes after SpiceJet added 10 planes since October 2024, strengthening its fleet and expanding its network capabilities. These strategic moves are expected to bolster the airline’s operational efficiency and support its growth in the competitive aviation market.
Tata Elxsi: Disappointing Q3 Results Lead to Share Decline
Tata Elxsi experienced a 6.82% drop in its share price after reporting weaker-than-expected Q3 FY25 results. The company’s net profit fell by 3.5% to ₹199 crore, while revenue rose by a modest 3% to ₹1,939.17 crore. Despite the revenue growth, the decline in profit missed market expectations, leading to investor disappointment and a sharp decline in the stock price.
Top Gainers
| Company | Current Price (₹) | % Gain |
|---|---|---|
| TCS | 4,265.65 | 5.62% |
| Tech Mahindra | 1,705.60 | 3.82% |
| HCL Tech | 1,995.10 | 3.12% |
| Wipro | 300.55 | 2.82% |
| Infosys | 1,966.95 | 2.59% |
Top Losers
| Company | Current Price (₹) | % Loss |
|---|---|---|
| Shriram Finance | 532.00 | -5.33% |
| IndusInd Bank | 937.60 | -4.41% |
| Adani Enterprises | 2,374.40 | -4.18% |
| NTPC | 308.25 | -3.78% |
| Bharat Electronics | 271.00 | -3.64% |
Sectoral Performance
- Best Sector: Nifty IT (+3.44%)
- Worst Sector: Nifty PSU Bank (-2.72%)
MSI Partners with Syrma SGS for Laptop Manufacturing in India
MSI, a global leader in gaming and AI PCs, announced a partnership with Syrma SGS Technology Limited for laptop production in India. Manufacturing will commence at Syrma SGS’s Chennai facility.
BHEL and ONGC Collaborate on Renewable Energy Projects
Bharat Heavy Electricals Limited (BHEL) and Oil & Natural Gas Corporation (ONGC) signed an MoU to explore joint renewable energy ventures. These include projects based on Fuel Cells, Electrolyzers, and Battery Energy Storage Systems.
Gujarat Fluorochemicals Incorporates Overseas Subsidiary
Gujarat Fluorochemicals Limited reported the establishment of a new overseas subsidiary through GFCL EV Products Limited.
Puravankara Shares Decline After Land Acquisition in Bengaluru
Shares of Puravankara fell by 2.22%, trading at ₹362.70 on the NSE, following the company’s acquisition of a 3.63-acre land parcel in Bengaluru for a ₹700 crore housing project.