Market Today: FIIs; Gold at record; FTSE rejig; Grand Continent Hotels IPO

Stock Market Today, March 21, 2025: Grand Continent Hotels IPO will enter Day 2 of subscription today, while Rapid Fleet Management IPO, and Active Infrastructures IPO will open for subscription

Stock Market Today, Friday, March 21, 2025: Stock markets today will seek guidance from global markets amid lack of domestic market triggers. At 7:00 AM, GIFT Nifty futures were trading 26 points higher at 23,227 levels.

 

In Asia, markets were mixed following a volatile session on Wall Street overnight. Australia’s S&P/ASX 200 traded 0.12 per cent higher, Japan’s Nikkei 225 rose 0.34 per cent, but South Korea’s Kospi slipped 0.16 per cent.

 

Overnight in the US, the S&P 500 slipped 0.22 per cent, the Nasdaq Composite slid 0.33 per cent, and the Dow Jones Industrial Average inched down 0.03 per cent.

 

Investors will assess Japan’s headline inflation data, which showed that prices rose at a pace of 3.7 per cent in Tokyo last month, slower than a two-year high pace of 4 per cent seen in January 2025.

 

Core inflation — which excludes prices of fresh food — was at 3 per cent, lower than January’s inflation rate of 3.2 per cent, but higher than Reuters’ estimate of 2.9 per cent.

 

Market Wrap: Sensex jumps 899 points, FIIs buy big

On Thursday, the BSE Sensex ended higher for fourth straight session, rising 899 points or 1.19 per cent to end at 76,348 level. The Nifty50, too, surged 283 points or 1.24 per cent to settle at 23,190.65 level.

 

In the broader market, the Nifty MidCap index added 0.64 per cent, and the Nifty SmallCap advanced 0.7 per cent.

 

The huge buying in India stock markets on Thursday came amid robust FII buying. As per NSE data, FIIs/FPIs bought shares worth Rs 3,239.14 crore on March 20, 2025. In comparison, DIIs booked profit in shares worth Rs 3,136.02 crore.

 

FTSE Rejig Today:

Indian markets may receive $1.4 billion to $1.6 billion in net equity inflows today, March 21, as 14 listed stocks will enter the FTSE All-World Index as part of the global index provider’s semi-annual rejig. The changes will be effective after market hours today.  

 

The stocks which are set to be added to the FTSE include 360 ONE WAM, Ajanta Pharma, Apar Industries, Bajaj Housing Finance, Blue Star, BSE, Central Depository Services (India), Crisil, Fertilisers and Chemicals Travancore, Fortis Healthcare, IndusInd Bank, Kaynes Technology India, National Aluminium, and Premier Energies. 

Accenture Q2: IT Shares in Focus

ADRs of Infosys and Wipro declined fell up to 4 per cent in the overnight trade on Thursday, following Accenture's Q2 results. The Dublin-based global consulting firm only raised the lower end of its revenue guidance band to 5-7 per cent, from 4-7 per cent, sending its shares 10 per cent lower intraday.

 

IPOs Today

Action in SME IPOs is gaining steam with a host of IPOs lined up. For instance, Grand Continent Hotels IPO will enter its second day (Day 2) of subscription today, while Rapid Fleet Management IPO, and Active Infrastructures IPO will open for subscription (Day 1) today.

 

That apart, three SME IPOs are, so far, lined up to open for subscription next week. These include Desco Infratech IPO, Shri Ahimsa Naturals IPO, and ATC Energies System IPO.

 

Gold Rate Today

Gold rate was rising in trade on Friday, March 21. Spot Gold was trading 0.23 per cent higher at $3,051 per ounce in the international market this morning.

 

On Thursday, Gold prices hit a record high of $3,057.21 on the back of a bullish outlook, driven by potential rate cuts signalled by the US Federal Reserve and continuing geopolitical and economic uncertainties.

 

Spot gold ended 0.3 per cent lower on Thursday, at $3,038.79 an ounce, due to profit-taking. US gold futures settled 0.1 per cent higher at $3,043.80 per ounce.

 

Oil Prices Rise

Oil prices were moving higher after the United States issued new Iran-related sanctions, stirring tensions in the Middle East.

 

Brent crude futures were up 44 cents or 0.45 per cent at $72.35 per barrel, while WTI crude was up $1.1 or 1.64 per cent at $68.26 on Friday morning.

 

On Thursday, too, the former rose $1.1 or 1.72 per cent to close at $72 a barrel as the US announced new Iran-related sanctions, targeting entities including for the first time a Chinese “teapot”, or independent refinery, and vessels that supplied crude oil to such processing plants.

 

Stocks to Watch Today:

Manappuram Finance share price: Bain Capital will invest ₹4,385 crore in India’s second biggest gold loan company to acquire an 18 per cent stake in it, via preferential allotment of equity & warrants, at a price of ₹236 per share. The transaction will also trigger a mandatory open offer for the purchase of an additional 26 per cent stake in the company on an expanded capital basis (excluding warrants). The open offer price has been fixed at ₹236 per share.

 

Bajaj Finance share price: The NBFC has appointed Rajeev Jain as Vice Chairman in the capacity of an executive director for a period of three-years, starting April 1, 2025. Incumbent Deputy Managing Director, Anup Kumar Saha, will be elevated to the position of Managing Director for the remainder of his tenure until March 31, 2028.

 

Hero MotoCorp share price: The company will make a strategic investment of up to ₹525 crore in Euler Motors Private Limited with an aim to enter the electric three-wheeler segment.

 

Stock Market Outlook: Key levels to watch on Nifty, Sensex Today:

 

Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services:

The Nifty index has successfully crossed and sustained above key resistance levels and is now holding well above its 20 and 50-DEMA, indicating the continuation of bullish momentum. It formed a big bullish candle on weekly chart and gave a consolidation breakout of last three weeks.

 

The index has to hold above 23,000 for an up move towards 23,333-23,500, while supports can be seen at 23,000-22,800.

 

Hrishikesh Yedve, AVP Technical and Derivatives Research, Asit C. Mehta Investment Interrmediates:

Nifty’s immediate support is placed near 22,940-22,974, where it has formed a bullish gap. As long as the index remains above 22,940, it could extend its rally towards 23,500-23,600. Given the overall bullish setup, traders are advised to follow a "buy on dips" strategy in the short term.

 

Shrikant Chouhan, Head Equity Research, Kotak Securities:

Technically, the stock market has cleared the 50-day SMA (Simple Moving Average) level as the Nifty/Sensex surpassed the 23,000/75,700 resistance zones. Additionally, they have formed a bullish candle on the daily charts, supporting a further uptrend from the current levels.

 

We believe that the overall market sentiment is bullish, but buying on dips and selling on rallies would be the ideal strategy for day traders. In the near future, 23,100/76,000 and 23,000/75,700 or (the 50-day SMA) will be key support zones, while 23,300/76,500 and 23,400/76,800 could serve as key resistance areas for day traders.

 

However, if the market falls below 23,000/75,700, sentiment could change. Below this level, traders may prefer to exit their long positions.