Will Sensex, Nifty extend rally for 4th day? Hyundai Motor, NHPC, Raymond, IOB, Trent shares in focus

Indian stock market has maintained their upward momentum for three sessions, with equity benchmarks BSE Sensex and NSE Nifty50 gaining 2.3% and 2.4%, respectively. The equity market is seen extending gains for the fourth straight session on Wednesday, tracking firm cues from global peers, which rallied on U.S. Fed rate cut outlook. The firm trends at Gift Nifty also suggest a positive start for the market. As of 8:15 AM, GIFT Nifty Futures were up 62 points, 0.27%, at 23,054, indicating a gap-up opening for the Sensex and Nifty.

On Wednesday, the 30-share Sensex ended at 75,449, up 148 points, or 0.20%, and the Nifty50 settled at 73 points, 0.32%, higher at 22,908. The broader markets outperformed the benchmark indices, with mid and small-caps rallied 2.63% and 2.43%, respectively. On the sectoral front, barring FMCG and IT, all indices ended in the green, with Realty and PSU banking topping the chart. Out of the Nifty 50 stocks, 33 closed in the green. The top five gainers were Shriram Finance, HDFC Life, Apollo Hospitals, Tata Steel, and Power Grid Corporation. On the other hand, Tech Mahindra, Britannia, TCS, Infosys, and Sun Pharma were among top laggards.

U.S. stocks end higher as Fed sticks with forecast for 2 rate cuts in 2025

In the overnight trade, Wall Street closed on positive note as sentiment was boosted after the Federal Reserve indicated it would still cut interest rates two times in 2025. The Fed kept interest rates unchanged at a range of 4.25% to 4.50% for a second straight meeting, waiting for clarity on the trade policy and economic growth outlook. On recession, Federal Reserve Chair Jerome Powell said that the chance has increased in the last few months due to slow economic growth, but the odds remain low. The Dow Jones Industrial Average ended 0.92% higher, the S&P 500 rallied 1.08%, and the Nasdaq Composite added 1.41%.

Asian stocks rally on Fed outlook

Mirroring positive closing at Wall Street overnight, Asian markets opened higher on Thursday as sentiment was lifted by the U.S. Federal Reserve’s outlook on rate cut. The Fed signalled that there is scope for interest rate cuts later this year. Cheering the news, Australia’s ASX 200 ended 1.1% higher, while South Korea’s KOSPI rose 0.5%. Indonesia’s Jakarta Composite was the top performer in the region with nearly 2% gain, followed by Taiwan’s Weighted stock index, which rallied 1.3%. Singapore’s Straits Times surged 0.7%, while China’s Shanghai Composite fell 0.3%. On the other hand, Hong Kong’s Hang Sang plunged over 1.1%.

Stocks to watch

Hyundai Motor India: The automaker has announced hike in prices of its vehicles by up to 3% effective from April 2025.

Raymond: The company has informed exchanges that its non-executive director Nawaz Singhania has resigned on March 19.

Indian Overseas Bank: The board of PSU bank approved the issue of long term infra bonds worth ₹10,000 crore during FY25. The bank also launched a qualified institutional placement (QIP) to raise up to ₹2,000 crore.

NHPC: The state-owned company's board has approved a plan to raise up to ₹6,300 crore during FY26 via bonds, on private placement basis.

Trent: The Tata Group company has inked a pact to acquire THPL Support Services Limited (TSSL) from Trent Hypermarket Private Limited (THPL) for ₹166.36 crore.

Adani Enterprises: The Adani Group flagship's subsidiary has incorporated a joint venture company, Praneetha Ecocables (PEL), with Praneetha Ventures Private Limited. The subsidiary Kutch Copper Limited will hold 50% equity stake in PEL. 

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