On Wednesday, 2084 stocks advanced, 1871 declined and 151 remained unchanged on Bombay Stock Exchange with advance decline ratio of 1.11 indicating a positive closing in the broader market, as foreign portfolio investors continues to remain positive. The trend of the major indices on Wednesday’s trading is given in the table below.
On NSE, 54 securities advanced and closed at a new 52-week high whereas 11 securities sank to close at their new 52-week lows. In sectoral indices, Nifty Auto and Nifty Media were among the biggest losers. Nifty IT, Nifty Auto and Nifty Pharma were among the biggest gainers.
The International Monetary Fund (IMF) trimmed its growth forecast for India in fiscal year 2026 to 6.2%, a 0.3 percentage point reduction from its January projection. The IMF cited escalating trade tensions and heightened global uncertainty as key factors influencing this downward revision in its latest world economic outlook
India's net foreign direct investment (FDI) fell sharply to $1.5 billion during April 2024-February 2025, a significant drop from $11.5 billion in the same period a year earlier. This decline was primarily due to increased repatriation and outward FDI from India, which surged to $48.9 billion. However, gross FDI inflows into India remained robust, growing by 15.2% year-on-year to $75.1 billion. Singapore was the largest source of inflows, followed by Mauritius and the US. Simultaneously, overseas investments by Indian firms also nearly doubled to $24.8 billion.
India's two largest private-sector lenders, HDFC Bank (-1.93%) and ICICI Bank (+0.56%), have slightly reduced their workforces in fiscal year 2024-25, despite simultaneously expanding their branch networks. HDFC Bank added a net of 994 employees, while ICICI Bank trimmed its staff by 6,723.
Bharti Airtel's (+1.59%) subsidiary, Bharti Hexacom, will acquire 400 MHz of spectrum in the 26 GHz band from Adani Data Networks. This acquisition will bolster Bharti Airtel's 5G capabilities, particularly in terms of network capacity and speed.
Ashoka Buildcon (+0.62%) secured a Rs569 crore project from Central Railway in Maharashtra. The project, located between Pachora and Jamner, involves engineering, procurement, and construction.
Ambuja Cements (-0.61%) finalized its acquisition of a 47% stake in Orient Cement. Orient Cement possesses three manufacturing plants located in Telangana, Karnataka, and Maharashtra, along with a distribution network that spans these regions.
India's prominent online brokerage platforms, including Groww, Angel One, and Zerodha, reported client attrition in the March quarter, potentially linked to market volatility and decline.
The Reserve Bank of India (RBI) increased its forward dollar sales significantly in February, reaching $88.75 billion, up from $77.52 billion in January. This intervention in the forward markets suggests the RBI's proactive measures to shield the Indian Rupee from potential shocks, possibly anticipating the impact of international trade developments or tariff-related uncertainties. By selling dollars in the forward market, the RBI likely aimed to manage future dollar inflows and outflows, thereby stabilizing the Rupee's exchange rate against potential volatility stemming from global trade dynamics.
Neogen Chemicals (-2.37%) informed the stock exchanges about a fire that occurred at its Multi-Purpose Plant (MPP3) facility, including the warehouse and tank farms located at Dahej SEZ, on 5 March 2025 and 7 March 2025. The company further stated that the Gujarat Pollution Control Board (GPCB) has issued certain directions in relation to this incident. It clarified that there is no change to the revenue guidance despite the operational disruption caused by the fire and the subsequent regulatory directives, the company's financial outlook remains unchanged.
Bharat Forge (+2.89%)received the approval of the Competition Commission of India (CCI) for its proposed acquisition of 100% shareholding in AAM India Manufacturing Corporation Private Limited.
NBCC (India) (+0.61%) announced that it has recently been awarded several work orders in the normal course of its business, totaling approximately Rs64.67 crore.
Alkem Laboratories (+4.38%)announced the successful completion of its acquisition of a 100% stake in Adroit Biomed Limited. As a result of this acquisition, Adroit Biomed Limited is now a wholly-owned subsidiary of Alkem Laboratories Limited.
Suven Pharmaceuticals (-2.03%) announced that it has received the requisite approval from the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, for the Scheme of Amalgamation of Cohance Lifesciences Limited with and into Suven Pharmaceuticals Limited.
In Q4FY24-25, Tips Music's (-3.95%) sales increased by 24.01% y-o-y to reach Rs78.5 crore, while operating profit increased by 23.51% y-o-y to reach Rs37.3 crore and Net profit increased by 18.60% y-o-y to reach Rs30.6 crore.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
