Market Today: GIFT Nifty; Flash PMIs; Tariffs; FIIs; Desco Infratech IPO

Stock Market Today, March 24, 2025: Shares of Divine Hira Jewellers, and Paradeep Parivahan will debut on the SME exchanges on Monday, March 24, 2025

Stock Market Today, Monday, March 24, 2025: Developments around US President Donald Trump's tariff imposition will weigh on investor sentiment all through the week as his deadline to slap reciprocal tariffs across countries is set to expire on April 2, 2025.

 

That apart, a host of economic data points, US bond yields, and foreign fund flows will guide the markets.  ALSO READ | STOCK MARKET LIVE UPDATES TODAY 

 

Stock Market Today Prediction, March 24:

 

Indian stock markets may open higher on Monday despite mixed global markets. At 7:00 AM, GIFT Nifty futures were quoting 121 points higher at 23,501 level.

 

Last Friday, the markets ended higher for a fifth straight session, logging their biggest weekly rally since February 7, 2021. The BSE Sensex surged 557 points to settle at 76,906, while the NSE Nifty50 ended with a gain of 160 points at 23,350.

 

During the week, the BSE benchmark added 3,077 points or 4.17 per cent, whereas the Nifty soared 4.26 per cent or 953 points.

 

According to Amol Athawale, VP – Technical Research at Kotak Securities, the 'Higher Highs-Higher Lows' formation on the weekly chart suggests further upward momentum in the market, though profit booking at higher levels cannot be ruled out.

 

"In the near future, 23,000-23,100 on the Nifty and 75,400-75,800 on the Sensex would act as key support zones, while 23,500-23,700 and 77,400-78,000 could be the key resistance areas for the bulls. However, if the benchmarks fall below 23,000/75,400, the sentiment could change, and traders may prefer to exit from their long positions," he said.

 

Ajit Mishra – SVP, Research at Religare Broking, meanwhile, suggests that traders should focus on selective stock-picking with a favorable risk-reward ratio rather than chasing momentum.

 

"Following a remarkable recovery, the Nifty index has approached its critical resistance around the moving averages ribbon at 23,400. A decisive breakout above this level could further fuel momentum, potentially driving the index towards the 23,800-24,100 range. On the downside, the 22,750-23,000 zone is expected to serve as crucial support," he said.

 

As for Bank Nifty index, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates said the Nifty Bank index has formed a bullish candle on both the daily and weekly charts, indicating strength.

 

"The next major resistance for the index is near 50,650, which is around its previous swing high. A sustained move above 50,650 could trigger a fresh breakout in Bank Nifty. Traders are advised to adopt a ‘buy on dips’ strategy," he said.

 

FII/DII Activity:

FIIs/FPIs bought India stocks worth Rs 7,470.36 crore on Friday, while DIIs sold India stocks worth Rs 3,202.26 crore.

 

This was the second consecutive day of FII buying.  ALSO READ | Tariffs, earnings key for FII flows after ₹1.54 trillion pullout in FY25

 

Stock Market Triggers for the Week:

Markets may remain volatile this week as this is the last week before Trump's reciprocal tariffs kick in.

 

World leaders across major economies are expected to tweak their taxes on US goods to mitigate Trump's tariff impact, if any. Trump, on his part, said last Friday that there would be some “flexibility” regarding tariffs.

 

That apart, the Manufacturing and Services Flash PMI for March for India, the US, the UK, the Euro zone, and Japan is scheduled to be released later today.

 

On Tuesday, the minutes of the Bank of Japan’s latest monetary policy meeting will be released, followed by the UK’s February inflation data on Wednesday. On Thursday, the US will release its final GDP data for Q4-CY24, along with the weekly jobless claims data, and PCE/Core PCE Final data.

 

On Friday, Japan’s Core CPI data for February, the UK’s trade data and Q4-CY24 GDP data, and India’s Forex data will be released.

 

IPOs This Week:

Primary market action will remain focused on SME IPOs this week with four new initial public offerings opening this week.

 

Desco Infratech IPO will open for subscription today; Shri Ahimsa Naturals IPO and ATC Energies System IPO will open for subscription on Tuesday (March 25); and Identixweb IPO will open for subscription on Wednesday (March 25).

 

That apart, Grand Continent Hotels IPO will close (Day 3) for subscription today. Among new IPO listings, shares of Divine Hira Jewellers, and Paradeep Parivahan will debut on the SME exchanges on Monday, March 24, 2025.

 

Global Markets Today:

Asia-Pacific markets opened mixed Monday as Donald Trump's April 2 tariff deadline looms.

 

Australia's S&P/ASX 200 opened around 0.37 per cent lower, but recovered most of the losses to trade 0.037 per cent lower.

 

Japan’s Nikkei 225 rose 0.23 per cent, while South Korea’s Kospi gained 0.11 per cent after South Korea's Prime Minister Han Duck-soo's impeachment was struck down by the country’s Constitutional Court.

 

Hong Kong’s Hang Seng index is trading 0.12 per cent higher.

 

On Friday, the S&P 500 added 0.08 per cent, the Nasdaq Composite gained 0.52 per cent, and the Dow Jones Industrial Average advanced 0.08 per cent.