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Financial & Morning Markets Update- 06 Mar 25
Fantastic rally to see Nifty and Sensex closing 1%+ up . After 10 non stop red sessions market ended in Green. And the best part was, nearly all sectors rose yesterday. Midcap & smallcap rose by 3%+
We are in last month of FY and two imp financial happenings lined up. First is Advance Tax for which due date is 15 March and that timely deposition will avoid 1% penalty and next is Tax harvesting for FY 24-25, last date is 31 March.
Tesla has finally signed up it’s First showroom in Mumbai, for their launch in India
India’s composite PMI rose from 57.7 in Jan to 58.8 in Feb. It’s a indication that growth in manufacturing and services sectors combined in month of Feb.
As per Knight Franks World Report 2025, High Net worth Individual (HNI) in India rose 6% to 85698 in 2024 . The number of Billionaire rose by 26 to total of 191. HNI as per survey is one having net worth of more than ₹ 87 crore.
Govt sees a huge and unexpected silver lining amidst the huge FII selling and profit booking. Govt saw a manifold jump in Capital Gains tax collection from FII in view of their profit bookings.
Indian Economists and analysts are busy calculating the impact of Donald Trump’s Tariff War on India, where he declared India charges more than 100% as Tariffs and similar tariff would be imposed back. If this happens most effected sector would be Auto, Electronic, Textiles, Diamonds, Jewellery, Pharma, Chemicals etc. It’s indeed fact that India levies much more Tariff on products than US.
All eyes are now set on duty India imposes on Tesla, as it’s all set to launch the company in India. Presently the taxes on car imported into India are as high as 110%.
Crude prices continue to fall. Yesterday it fell by 3% and Brent futures for barrel was at $68.85.
NSE suddenly changed the expiry day of its equity Derivative contracts from Thursday to Monday, taking BSE by surpise and a result, BSE was down in morning trades by 9% yesterday.
Rupee showed it’s biggest gain in last few years and closed below $87.
PSU shareholders are set to recieve record dividends as nearly all PSU have reported highest profits of total over 3.5 lakh crore.
Market Today
US markets were all up and even Asian markets were up today.
Indian Markets too are poised to open in GREEN today
Nifty Levels to keep eyes on
Bullish above 22400
Bearish below- 22250
India’s VIX level fell 1.17% to close at 13.67 levels, showing reduction in fear in markets.
A Green opening may bring cheers, but day ahead could be mixed, as chances of profit booking is very high amidst this volatility.. So hope the day stays Green till 330 pm today!!
Stock News
BEL has declared dividend of Rs 1.5 per share with record date of 11 March
India is close to approve it’s First Semiconductor project. HCL-Foxconn are part of proposals awaiting final approvals.
HDFC Bank and IAF launched project HAKK for IAF veterans. This includes setting up of 25 centres to provide banking and skill training services to Veterans.
L&T recd total order worth Rs 2500 crore ro develop residential towers in Mumbai, Bangalore and Chennai.
Motilal Oswal has issued a BUY recommendations for Bharti Airtel and DCB Bank amidst it’s potential growth opportunities.
Zydus Life science has received US FDA approval for Sasatinib tablets used in treatment of Chronic Leukemia.
Gold/Silver
Gold was trading nearly flat after a small decline yesterday. It’s trading at 89130. Silver too is trading flat below 100000 levels.
Finally, it’s good to see greens in market and portfolio and same may happen today too (at least at start of day), but investors shouldn’t take this as “Bulls are Back” Theory!!!!
A few sideways momentum is expected in coming days, where some highs and more lows could be seen!!
Wait and Watch is Best Policy now!!
Happy Investing!!
Disclaimer: All investments are subject to market risks. Please check the fundamentals and other stock market parameters carefully in detail before investing. Also, it is always good to consult a qualified financial advisor for stock market investments. Opinions and Recommendations above are Authors’ personal, you are should carry out your own checks & balances and due diligence before investment.
