Begin typing your search...

Live Market updates today,25 March

Market retreats for 2nd day on negative global cues

Market retreats for 2nd day on negative global cues

The BSE Sensex plunged 871.13 points or 1.74 percent to 49,180.31, while the Nifty50 fell 265.40 points or 1.79 percent to 14,549.40 and formed bearish candle on the daily charts.

The short-term trend of Nifty seems to have reversed down after a small upside bounce. Next lower levels to be watched around 14,350-14,300 in the next few sessions before showing another round of small upside bounce from the lows. Any pullback rally could find resistance around 14,675-14,750," he said.

According to pivot charts, the key support levels for the Nifty are placed at 14,472.17, followed by 14,394.93. If the index moves up, the key resistance levels to watch out for are 14,689.47 and 14,829.53.

Nifty Bank

The Nifty Bank index tanked 891.15 points or 2.61 percent to close at 33,293.25 on March 24. The important pivot level, which will act as crucial support for the index, is placed at 33,007.53, followed by 32,721.86. On the upside, key resistance levels are placed at 33,774.73 and 34,256.27 levels.

Stocks in the news

Jubilant Foodworks has entered into an exclusive master franchise and development agreement with PLK APAC Pte Ltd, a subsidiary of Restaurant Brands International Inc. The agreement will help the company to develop, establish, own and operate, and to license franchisees to develop, establish, own and operate, Popeyes Restaurants in India, Bangladesh, Nepal and Bhutan.

Time Technoplast has received information from the promoter group of the company for substantial reduction in their pledge of equity shares of the company held by them. "The pledge of shares has reduced from 9.55% of paid up capital to only 4.22%. It may be recalled, at some point in time the total pledged shares used to be around 18%," the company said in its BSE filing.

Pokarna Engineered Stone, wholly owned subsidiary of Pokarna, has started commercial production at its second state-of-the-art quartz surface manufacturing facility, with effect from March 24. The plant is located at Mekaguda village in Telangana.

Vakrangee has entered into a partnership agreement with TransUnion CIBIL (TUCIBIL), one of the India's largest credit information company regulated by Reserve Bank of India. The agreement will help the company drive financial inclusion by providing easy access to CIBIL score and report to consumers through Nextgen Vakrangee Kendra network.

Wabco India ZF International UK will sell 17,17,388 equity shares or 9.05% stake in Wabco India through the offer for sale on March 25 and March 26. The company will also sell additional 17,17,387 equity shares or 9.05% stake in the company through offer for sale on same days. The floor price for the sale is fixed at Rs 5,450 per share.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,951.90 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 612.80 crore in the Indian equity market on March 24, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

One stock - Vodafone Idea - is under the F&O ban for March 25. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

Dwaipayan Bhattacharjee
Next Story
Share it