Share Market Today Live Updates 3 March 2025: Sensex, Nifty poised for positive start amid mixed global cues; FPI selling remains a concern
Opening Bell: Stock Market News and Updates
The Indian stock market seems to be poised for a positive start on the first trading day of March 2025, with the Sensex and Nifty both recovering slightly amid mixed global cues. The former opened the day with a gain of 153 points, while the latter was up by 48 points. However, the rally is expected to be tempered by concerns over Foreign Portfolio Investors (FPI) selling, which remains a significant overhang on the market.
Top Gainers and Losers
Here are the top gainers and losers from the BSE and NSE:
Gainers:
- NLC India: The company secured a 200 MW wind power project from SJVN at a tariff of `3.74 per unit.
- Astrazeneca: The drug major received permission from the Central Drugs Standard Control Organisation (CDSCO) to import a lung cancer drug.
- MOIL: The company raised prices between 6.5% and 10% across its products, which is expected to boost its revenue.
- Unichem Laboratories: The company approved the sale of a 3.40-acre land plot and an 82,220 sq. ft. building in Mumbai’s Prabhat Estate to Macrotech Developers Ltd.
- Zen Technologies: The company completed the acquisition of ARI Labs and a majority stake in Applied Research International.
Losers:
- PayTM: The company received a show-cause notice from the Directorate of Enforcement for Foreign Exchange Management Act (FEMA) violations.
- Glenmark: The company recalled 1.5 million bottles of ADHD medication in the US due to non-compliance with US FDA regulations.
- Hero Motocorp: The company’s February sales were lower than expected, at 3.9 lakh units, compared to estimates of 4.4 lakh units.
- Indian Overseas Bank: The bank received a GST demand of ₹699.5 crore from the tax authorities, which it intends to challenge.
- MSTC: The company received an income tax demand order of ₹105.55 crore for the Assessment Year 2019-20.
Market Outlook:
The Indian market is likely to trade cautiously today, with investors watching the global cues, which were mixed overnight. The European markets were trading lower, while the US markets were mixed. The dollar index was flat, and oil prices were steady.
Technical Analysis:
The Sensex and Nifty are likely to face resistance at 52,000 and 16,500, respectively, while support levels are at 51,500 and 16,000.
Segmental Performance:
- Avoid: PEL (Power)
- Neutral: Bajaj Auto, Hero Motocorp
- Buy: MOIL (Petroleum), NLC India (Power)
- Sell: PayTM (Fintech)
Recommendation:
- Long-term investors may consider investing in MOIL and NLC India, while short-term traders may look to sell PayTM and Hero Motocorp. Avoid PEL, Bajaj Auto, and Hero Motocorp for now.
Conclusion:
The Indian stock market is set to open on a positive note, but the rally may be tempered by FPI selling concerns. Investors would do well to be cautious and adopt a wait-and-see approach. It’s a good idea to monitor the market’s progress and make informed decisions accordingly.
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