Gift Nifty indicates firm opening for Sensex, Nifty; IndusInd Bank, Swiggy, IREDA, Bajaj Finserv, Tata Motors, HUL shares eyed

Indian share market is poised to open higher for the second straight session on Tuesday, driven by firm global cues as U.S. and Asian stocks rallied after U.S. retail sales data eased recession concerns. The positive trend in GIFT Nifty Futures also indicated a positive start for equity benchmarks Sensex and Nifty50. As of 8:25 AM, GIFT Nifty Futures were up 133 points, 0.59%, at 22,740.

On Monday, the benchmark indices ended higher amid strong global cues, along with buying interest in select heavyweights, particularly from the banking and financial sectors. The 30-share Sensex settled at 74,170, up by 341 points or 0.46%, the broader Nifty ended 112 points, or 0.5%, higher at 22,509. The broader indices, represented by the mid and small cap indices, also settled with solid gains, rising nearly half a percent each. Among sectors, pharma, financials, and auto were the top gainers, while realty and FMCG remained subdued.

U.S. stocks rally for second day

In the overnight trade, U.S. stocks extended gaining streak for the second straight session as investors cheer rise in retail sales, while value buying after four-week of correction also boosted momentum. Last week, Wall Street witnessed sharp correction after President Donald Trump said the U.S. economy would see short-term turbulence from his trade policies and refused to rule out a recession. The rebound in retail sales to 0.2% in February, albeit falling short of expectations, eased investors nerve who were worried about weakening economic growth. The Dow Jones Industrial Average closed 0.85% higher, the S&P 500 gained 0.64%, and the Nasdaq Composite added 0.31%.

Asian shares rise on China optimism     

Tracking firm cues from Wall Street, Asian markets continued their positive momentum for the second session on Tuesday. The sentiment was lifted by growing optimism over China’s economy, while U.S. retail sales data eased recession concerns. Hong Kong market outperformed the local peers, with Hang Sang surging 1.6%. This was followed by Japan’s Nikkei 225, which rallied 1.5%, while Singapore’s Straits Times and South Korea’s KOSPI jumped up to 0.7%. Among others, China’s Shanghai Composite and Taiwan’s Weighted stock index added 0.1% and 0.6%, respectively. Bucking the trend, Indonesia’s Jakarta Composite slumped up to 2%.

Stocks to watch

Bajaj Finserv: The non-banking financial arm of Bajaj Group has signed an agreement with Allianz SE to acquire a 26% in the two insurance joint ventures for ₹24,180 crore.

IndusInd Bank: Foreign brokerage Moody's has placed the private lender’s baseline credit assessment (BCA) under review for downgrade amid concerns over "inadequate internal controls" after the bank found discrepancies in its derivative accounts.

Tata Motors: The auto heavyweight has proposed to increase prices of its commercial vehicles by up to 2% from April 1 due to rising input costs.

Religare Enterprises: The NBFC company has commissioned a governance review of its operations and subsidiaries, Religare Finvest Limited (RFL) and Religare Housing Development Finance Corporation Limited (RHDFCL). The board of Religare Enterprises has also decided to approach the new promoters, the Burman Group, for immediate funding support to sustain the operations.

IREDA: The PSU company has raised its borrowing limit by ₹5,000 crore to ₹29,200 crore for FY 2024-25.

Swiggy: The online food delivery company’s quick commerce arm, Swiggy Instamart, has expanded its services to 100 cities, adding 32 new locations, including Raipur, Siliguri, Jodhpur, and Thanjavur, in 2025.

HUL: The Competition Commission of India (CCI) approved Hindustan Unilever's proposal to acquire beauty and personal care brand Minimalist's parent company Uprising Science.

Ircon International: The company’s joint venture received orders worth ₹1,096 crore from the Meghalaya government for engineering, procurement, and construction contracts.

Unicommerce eSolutions: The company has said that its board will consider proposal to raise funds via security issuance at its March 20 board meeting. 

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)