Asian stocks saw modest gains in early trading on Wednesday as investors looked for a clear direction amid weaker US consumer confidence and a late rally in US equities.

The Nikkei gained 0.3%, Kospi was up 0.3%, Australia’s S&P/ASX 200 and the Hang Seng seng rose 0.7% each.

US futures were up, with contracts for the S&P 500 and Dow Jones Industrial Average gaining 0.7% each. The Nasdaq 100 was up 0.1%.

Benchmark indices gained for the seventh straight session on Tuesday, their longest streak since September 2024, but pared gains after hitting a three-month high. The NSE Nifty 50 rose 0.04% to 23,668.65 after crossing 23,800 intraday, while the BSE Sensex ended 0.04% higher.

Foreign portfolio investors remained net buyers for the fourth session, purchasing Rs 5,371.57 crore in equities. Domestic institutional investors turned net sellers, offloading Rs 2,768.87 crore.

The rupee snapped an eight-day winning streak, closing 12 paise lower at 85.76 per US dollar, as the dollar index and crude oil prices rose.

Stocks To Watch

  • Infosys: The company has incorporated a step-down subsidiary, Infosys BPM Netherlands B.V.

  • PRAJ Industries: The company has appointed Ashish Gaikwad as MD-Designate effective Feb. 3. He will take over as MD from July 1, 2025.

  • Varun Beverages: The company has acquired a 14% stake in Aspirative Creative Ventures for Rs 2.24 crore to support a solar power project.

  • Arvind Smartspaces: The company has sold 200 plots worth Rs 180 crore at its Bengaluru project launch.

  • Star Health: The insurer claimed it has not received any communication from the Insurance Regulatory and Development Authority of India regarding lapses in its claims settlement practices, countering media reports on the matter.

  • Maruti Suzuki: The company has received a draft assessment order from the Income Tax Department worth Rs 2,966 crore.

  • Welspun Enterprises: The company’s arm, Welspun Michigan Engineers, has secured a Rs 209-crore order from Brihanmumbai Municipal Corporation.

  • Minda Corp: The company will consider raising funds through securities issuance or other means on March 28.

  • Advait Energy Transitions: The company has emerged as the successful bidder at L1 Stage for the supply and installation package of transmission lines.

  • Ireda: The company has approved a borrowing program of up to Rs 30,800 crore for FY26.

  • Redington: The company has received an income tax demand order of Rs 175 crore, including interest.

  • Indian Overseas Bank: The company has received an income tax demand of Rs 559 crore and plans to file an appeal against the tax demand.

  • NCC: The company has secured two orders worth Rs 10,805 crore from BSNL for BharatNet projects in Uttarakhand and Madhya Pradesh.

  • HCL Tech: The company has launched an AI-powered smart manufacturing solution, Agentic, on Google Cloud.

  • Jyothy Labs: The company will sell its entire stake in Jyothy Kallol Bangladesh to Kallol Enterprise.

  • Bharat Heavy Electricals: The company has extended its technology collaboration agreement with Vogt Power International USA for heat recovery steam generators.

  • IREDA: The company has raised Rs 910 crore through privately placed Tier II bonds.

  • Manappuram Finance: The company will consider its borrowing program on March 29.

  • Satin Creditcare: The company has approved the sale of a stressed loan portfolio with an outstanding value of Rs 213 crore to an asset reconstruction company.

  • IRFC: The company will lend Rs 5,000 crore to NTPC Renewable Energy for capital expenditure requirements.

  • Aditya Birla Capital: The company will invest Rs 40 crore in Aditya Birla Capital Digital on a rights basis.

  • Granules India: The company has approved an internal restructuring plan involving its US-based arms. Granules USA will transfer its business and net assets to Granules Pharmaceutical, simplifying legal, tax, and operational structures.

  • Dredging Corp: The company has appointed P Uma Gandhi as CFO.

  • Indegene: Indegene Ireland will acquire MJL Communications Group and its subsidiary for GBP 3.4 million.

  • Waaree Energies: The company will inaugurate a 5.4 GW solar cell plant in Gujarat on March 29.

  • Asahi India: The company has commenced commercial operations at its float glass facility in Rajasthan.

  • Thomas Cook: The company has opened a new store in Balewadi, Pune, to expand its retail presence.

  • Nazara Tech: The company has signed an agreement with its arm, Sports Unity Pvt. Ltd., and Shyamal Mehta for the sale and transfer of a 71.54% stake in SUPL.

  • Indian Overseas Bank: Life Insurance Corporation of India and IIFL Finance have been allotted 12.32 crore shares and 4.92 crore shares, respectively, in the bank’s QIP.

  • Waaree Renewables: The company has received a letter of award for an order worth Rs 232 crore for a 170 MW solar power project.

  • DLF: The company’s subsidiary has acquired a 50% stake held by Reco Greens in DLF Urban for Rs 497 crore.

  • Federal Bank: The company will increase its stake in Ageas Federal Life Insurance by 4%, raising its total holding from 26% to 30%.

  • NTPC Green: The company declared commercial operation for the third and final 100 MW capacity of its 320 MW Bhainsara Solar Plant.

  • TVS Motor: The company’s arm, TVS Motor Singapore, will acquire an additional 8.26% stake in Go Corp, Switzerland, for CHF 500,000. Post-acquisition, Go Corp will become a wholly owned subsidiary of TVS Motor Singapore.

  • Brainbees Solutions: The company will infuse up to Rs 146 crore in its arm, Globalbees Brands.

  • ONGC: The company will infuse up to Rs 3,300 crore in its arm, ONGC Green, which will use the proceeds to acquire Ayana Renewable Power through ONGC NTPC Green.

Bulk/Block Deals

  • Samvardhana Motherson International: Goldman Sachs (Singapore) Pte.- Odi bought 65.48 lakh shares (0.09%) at Rs 132.7 apiece, while Kadensa Master Fund sold 65.48 lakh shares (0.09%) at Rs 132.7 apiece.

  • Navneet Education: Promoter Navneet Foundation sold 90,625 shares on Monday.

  • Pennar Industries: Promoter Aditya Narsing Rao bought 8,100 shares on Tuesday.

  • Steel Strips Wheels: Promoter Priya Garg bought 25,000 shares on March 24.

  • Usha Martin: Promoter Stuti Jhawar bought 6,000 shares, and promoter Amisha Jhawar bought 17,000 shares.

  • Wardwizard Innovations & Mobility: Promoter Yatin Sanjay Gupte sold 34 lakh shares on Friday.

  • Aster DM Healthcare: Promoter Union (Mauritius) Holdings created a pledge for 2 crore shares on Thursday.

Trading Tweaks

  • Ex-record dividend: TVS Motor Co., REC.

  • Short-Term ASM Framework Stage 1: Focus Lighting and Fixtures, JBM Auto, Prudent Corporate Advisory Services, Rajesh Exports, Sun Pharma Advanced Research Co.

  • Excluded from ASM Framework: Nagarjuna Fertilizers and Chemicals.

Who’s Meeting Whom

  • Brigade Enterprises: To meet analysts and investors on March 27.

  • Suven Pharmaceuticals: To meet analysts and investors on March 31 and April 1.

  • Allied Digital Services: To meet analysts and investors on March 28.

F&O Cues

  • Nifty March futures: Down 0.14% to 23,705 at a premium of 37 points.

  • Nifty March futures open interest: Down 9.94%.

  • Nifty Options March 27 Expiry: Maximum Call open interest at 25,000, Maximum Put open interest at 23,000.

  • Securities in ban period: IndusInd Bank.

Currency Update 

The rupee opened stronger on Tuesday at 85.58 per US dollar, supported by improved global sentiment after US President Donald Trump signalled flexibility on upcoming tariffs, easing investor concerns, Reuters reported.

However, the domestic currency snapped its eight-day winning streak as the US dollar index and crude oil prices rose. The rupee closed 12 paise lower at 85.76, retreating from Monday’s over two-month high of 85.64. It had previously recorded its best streak since January 15, 2024.

Research Report

  • Cement Q4 Results Preview — DRChoksey Maintains Constructive Stance; UltraTech, Shree Cement Among Top Picks. Read more here.

  • Banks Q4 Results Preview — DRChoksey Remains Cautiously Optimistic; SBI, ICICI Bank Among Top Picks. Read more here.

  • ‘Buy’ Varun Beverages Maintains Motilal Oswal Factoring In Strong Fundamentals, Potential For Future Growth. Read more here.

  • ‘Buy’ Jindal Stainless Maintains ICICI Securities But Lowers Target Price — Here’s Why. Read more here.  

. Read more on Markets by NDTV Profit.The NSE Nifty 50 on Tuesday rose 0.04% to 23,668.65 after crossing 23,800 intraday, while the BSE Sensex ended 0.04% higher.  Read MoreMarkets, Business, Notifications 

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