Markets Today: GIFT Nifty; Wall St bleeds; Japan GDP; IndusInd Bk; NAPS IPO

Stock Markets Today, March 11, 2025: Weakness in Asia-Pacific markets, sell-off on Wall Street, coupled with foreign institutional investors (FIIs) activity may drive the mood of the Indian benchmark indices, Nifty50 and Sensex, today.

 

Banking stocks will also remain in focus, especially IndusInd Bank, after it revealed a 2.35 per cent post-tax impact on its net worth from a markdown on internal FX derivative trades. These trades, related to FX borrowings and deposits, span 5–7 years until March 2024 and have been halted thereafter. The bank hired an external agency for an audit in Q3FY25.

 

That said, around 6:40 AM, GIFT Nifty Futures were trading 212 points lower at 22,303, hinting at a gap-down start. 

 

 

In the previous session, Sensex settled 217 points or 0.3 per cent lower at 74,115. The Nifty 50 closed at 22,460, down 92 points or 0.4 per cent.

  

Global cues

 

Asia-Pacific markets were under pressure on Tuesday, following declines in the US amid concerns over tariff policies and the potential for a recession in the world’s largest economy.

 

Japanese stocks saw the most major losses in the region, with the Nikkei falling 2.5 per cent. The broader Topix index also dropped 2.6 per cent. Japan's revised GDP growth for the fourth quarter came in at 2.2 per cent on an annualized basis, below economists’ expectations and the prior estimate of 2.8 per cent growth. 

Also Read: Rupee sees worst fall in 2 weeks to close at 87.34 against US dollar

 

South Korea’s Kospi fell 2.15 per cent, while the ASX 200 also dropped 1.8 per cent.

 

In the US, stock markets slumped overnight as fears grew that President Trump’s tariff policies could push the economy into a recession. The S&P 500 lost 2.7 per cent, reaching its lowest level since September. The Nasdaq dropped 4 per cent, marking its worst session since September 2022, while the Dow Jones fell 2.08 per cent.

 

The S&P 500 is now down 8.7 per cent from its all-time high on February 19, and the Nasdaq has fallen nearly 14 per cent from its recent peak. A 10 per cent drop is considered a correction on Wall Street. 

 

Investors now await US January JOLTs job openings data, which is expected later in the day.

 

Domestic cues

 

The pace of new investors entering the stock market slowed to its lowest in nearly two years, with only 2.26 million new accounts added in February, the weakest since May 2023. The slowdown is linked to the market correction and fewer IPOs.

 

EU investors are looking to increase their exposure to Indian equities, cutting their underweight positions, according to Macquarie. They are closely monitoring mutual fund inflows to gauge domestic sentiment.

 

Also Read: Defensive funds: Focus on consistency across cycles, not just performance

 

In response to US President Trump’s claim that India had agreed to reduce tariffs, the Indian government clarified that no commitment had been made, and talks are ongoing with no deadline set for April 2.

 

Also Read: Trump's tariff threats may be good for India: Ex-RBI deputy Viral Acharya

 

India's GDP growth accelerated to 6.2 per cent in Q3 FY25, up from 5.6 per cent in the previous quarter. To achieve the ‘Viksit Bharat’ vision and become a high-income economy, India needs to grow at 7.8 per cent annually from 2024-47, according to the World Bank.

 

Additionally, the Ministry of Statistics and Programme Implementation (MoSPI) is considering adding data on water supply, sewerage, and waste management activities to the new Index of Industrial Production (IIP), set for release in February next year.

 

Other triggers

 

FII, DII

 

FIIs net sold shares worth Rs 485.41 crore, while DIIs net bought shares worth Rs 263.51 crore, on March 10.

 

IPO market

 

NAPS Global IPO (SME) will list on the bourses. Super Iron IPO (SME) will open for subscription, while PDP Shipping IPO (SME) will enter Day 2.

 

Also Read: Showing resilience: SME IPO wagon chugs along amid mainboard slowdown

 

Commodity market 

 

Gold prices declined on Monday as profit-taking outweighed the safe-haven demand driven by geopolitical uncertainty. Market attention also shifted to the upcoming US inflation data. Spot gold dropped 0.2 per cent to $2,904.50 per ounce. US gold futures edged down 0.1 per cent to $2,910.90.

 

Oil prices fell 1 per cent on Monday amid uncertainty over US tariffs and rising output from OPEC+ producers, although potential sanctions on Iranian crude exports helped limit the losses. Brent crude settled 0.49 per cent lower at $68.94 per barrel, while US WTI crude dropped 0.76 per cent to $65.53.

 

Here's how analysts are assessing today's (March 11) trading session:

 

Shrikant Chouhan, head of equity research at Kotak Securities 

For day traders, 22,500/74,300 would be the key level to watch. As long as the market is trading below this level, the weak sentiment is likely to continue. On the downside, it could retest the levels of 22,350-22,300/74,000-73,700. Conversely, if it moves above 22,500/74,300, the sentiment could change, and the market could rally to 22,650-22,700/74,500-74,700.

 

Hrishikesh Yedve, AVP of technical and derivatives research at Asit C Mehta 

On the downside, the 9-Day Simple Moving Average (9-DSMA) is placed near 22,370, serving as immediate support. Until the index sustains above the 22,800 hurdle, traders are advised to buy near support and book profits around the resistance zones mentioned above.