Sensex Today | Stock Market Highlights: Nifty ends below 23,650 as banks, autos drag

Mayuresh Joshi, Director Research, Marketsmith India

“Anybody holding these stocks should continue holding. A few actionable ideas that we talked on a watch list, something like an NLC India, which did extremely well, has a major share in lignite production, also expected to double its production capacities and expect significant improvement in both thermal as well as renewable capacities with a better reported EBITDA over the next few years and better margins as well. So, structurally, it looks very advanced.”

Deven Choksey, MD, DRChoksey Finserv

“If you consider three to five years from now, the scenario appears extremely promising for some of the generation companies, and that’s where probably some amount of book building has started taking place by the funds buying the power generating companies at this point of time.”

Deven Choksey, MD, DRChoksey Finserv

On banks

Larger part of the money allocation is taking place in the stocks and the valuation comfort is arising. At the same time, the growth in the book size is giving comfort to the new investors to buy into the stock. So probably I believe that the likes of SBI, BoB remain relatively more favourite at this point of time compared to other peers in the private sector.

On autos

If the gas related situation of the collateral damage do not take place, then in such a situation, the fall in the current market price of the stocks could be a buy opportunity.

Amit Gupta, Head Equities, PMS, Motilal Oswal Private Wealth

“Sitting on cash is very much required because there were very few hiding places in the market; like banking was one of the hiding places, no doubt about this, and it was performing well, but then we saw the crude prices started moving up. If crude prices are going higher, eventually the bond yields can also spike, and as a result, the treasury profits can get a hit for banks and that is a simple math.”

“I think that is the reason the banks, in the last two-three sessions, have also come under pressure and that is the reason we feel that sitting on cash of 15-20% makes sense in the current scenario. Along with this, going forward, once we have seen gold, silver kind of commodities performing, the base metals can also reverse and metal and mining is one theme that we are looking at, at least till this situation is not getting stabilised.”

Amit Gupta, Head Equities, PMS, Motilal Oswal Private Wealth

“We feel pharma maybe the beneficiary of the IT money moving in because when IT was impacted because of artificial intelligence (AI), we saw the money was moving into financial services. Now financial services, when the crude oil prices are going higher, they are also impacted and that is the reason we feel that the money can move, to some extent, into pharma space also.”

“I understand some API prices can go up, but eventually, when we have a good term now with US, that scenario of anything could be announced on pharma may not be there. So, companies which are moving into high value complex products, into biosimilars, because in the Budget, also, government has spoken about that all the complex diseases like cancer and all where the drugs prices are costly, government wants to bring the biosimilar thing so that the drugs can be available at a better price. So, the companies which are moving into that, they can be benefited.”

Rupee Ends At 92.19/$ Against Wednesday’s Close Of 92.04/$

HCLTech said it has collaborated with Google Cloud to help drive the adoption of agentic AI across industries and plans to expand its Google Cloud-certified workforce from 12,000 to more than 35,000 over the next three years.

A day after the International Energy Agency (IEA) announced a coordinated release of 400 million barrels from emergency reserves, it warned that global oil demand could fall by around 1 million barrels per day as the Middle East war triggers widespread disruption.

“The war is creating the largest supply shock in the history of the oil market,” the IEA said in its latest Oil Market Report. Flight cancellations, grounded airlines, reduced travel, and potential slowdowns in industrial activity are expected to curtail consumption through March and April.

The Strait of Hormuz, a key artery for global crude flows, has seen shipments plunge from 20 million barrels per day pre-war to a trickle. Gulf countries have cut production by at least 10 million barrels per day, while attacks and logistical bottlenecks have shuttered more than 3 million barrels per day of refining capacity.

Sources Say:

Zydus Life | Launches AI-powered Continuous Glucose Monitoring Devices Diasens & GlucoLive

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Govt Sources Say

According to Jefferies, the West Asian conflict might have varying effects on Indian finance. Although lending may increase, banks may have to pay more for credit. Growth, credit cost, and NIM may all suffer for NBFCs.

The director of Elixir Equities, Dipan Mehta, cautioned investors against investing in IT services companies due to the uncertainties surrounding AI-led disruption in the industry. He stated that it is best to wait for more certain profit trends because it is still unclear whether companies will be long-term winners.

Dharmesh Shah, Assistant VP, ICICI Securities

The Markets are in a volatile paradigm, as gains from a recovery curve has been sold into.

Govt Sources To CNN-News18

TVS | Launches Orbiter V1, Starting At A Price Of ₹49,999

Somany Ceramics: Gas supply to the company’s Bahadurgarh plant restricted to 80% following GAIL communication

Co Is Actively Evaluating The Situation & Taking Necessary Measures To Minimise The Impact

The shares of Vikram Solar surged over 2% after recovering over 5% from lows of the day.

Manish Hathiramani, Proprietary Trader & Technical Analyst, Deen Dayal Investments

Industry experts suggested that worries about a wider liquidity spiral may be exaggerated, despite growing concerns that private credit could be the next source of pressure on Wall Street.

CNBCTV-18 Access

The Nifty 50 index has cut its losses to under 100 points.

The Nifty Midcap 100 index is back in the green after marking a colossal 1,000 points recovery from lows.

Despite supply issues related to the crisis in West Asia, India’s steel production is stable, according to Steel Secretary Sandeep Poundrik. SAIL currently has a supply of propane for 20 to 25 days, so there won’t be any sudden disruptions and production will continue as usual.

WATCH

Although international tensions and rising oil prices may cause short-term volatility, solid profit growth and a favourable local macroenvironment might underpin Indian markets, according to Peter Oppenheimer, Chief Global Strategist at Goldman Sachs.

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Power Hive Launches ‘VION’ Lithium-ion Battery Range for E-Mobility, Inverter and Integrated Home Backup Solutions

ABB India sees a sharp recovery of over 4% from opening levels, and extends gains by nearly 2% in trade now

Dipan Mehta, Director, Elixir Equities

On Titan, Maruti

Thursday, March 12, saw a slight decline in the price of precious metals in India as international markets responded to increased geopolitical tensions and a stronger US dollar, which combined to reduce demand for bullion despite continued interest in safe havens.