The NIFTY opened at 22432.20 with a gap up of 97 points. The index could not sustain at the higher levels and started drifting downwards sharply after recording its intraday high at 22446.75. A sharp decline took place. The bears were in complete control as prices did not see much of a rally during the day. The down move brought prices below 22000 levels. Index heavyweight RELIANCE led the bears as the stock ended with a loss of over 2.50% while ITC, HDFC BANK, and ICICI BANK gave some strength and tried to cap the losses. The intraday range was very wide as prices have traveled within a range of 541 points. The long-term trend is up while the long-term momentum has moved down from the strength zone. The Intermediate trend is up while the intermediate momentum has reached the weak zone. Both the momentum have aligned on the downside suggesting lower levels may be ahead.


The BANK NIFTY opened at 47341.15 with a gap up of 64 points. The index initially moved sideways but eventually broke on the downside after recording its intraday high at 47468.70. Prices have seen a sharp intraday decline and went below 47000. Prices recorded its intraday low at 46842.15, saw a minor recovery towards the end, and finally closed at 46887.25 with a loss of 390 points. PSU BANKS have again significantly underperformed, saw a sharp downside move, and ended with a loss of 4.37%. PVT BANKs have also moved down, saw a mild decline, and finally closed with a loss of 0.97%. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while SBIN contributed the lowest. The trend is sideways now. We should wait for a close below 47000 support levels. As of now, we should step aside and avoid trading the index.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ITC.24.03 Mar 422.8 4.15 22.35 133361600 NMDC.24.03 Mar 204.75 -8.84 4.45 77188500
ICICIBANK.24.03 Mar 1085.3 0.28 1.14 71038800 RBLBANK.24.03 Mar 229.2 -8.7 5.95 68957500
INDIACEM.24.03 Mar 196.25 -8.12 6.01 22031300
BHEL.24.03 Mar 225.8 -8.02 3.81 86268000
M&MFIN.24.03 Mar 258.9 -7.83 4.65 23852000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ABBOTINDIA.24.03 Mar 27480.85 1.17 -0.08 209000 NATIONALUM.24.03 Mar 135.2 -11.4 -10.65 79192500
BAJFINANCE.24.03 Mar 6478.6 0.07 -2.36 9206000 SAIL.24.03 Mar 118.2 -9.39 -9.95 119224000
IDEA.24.03 Mar 12.5 -9.09 -3.02 1772560000
HINDCOPPER.24.03 Mar 235.6 -8.27 -5.19 30888400
GMRINFRA.24.03 Mar 75.2 -7.5 -0.13 192138750


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Metropolis Healthcare Ltd. 1599 -2.28 340578 806242 80.39 Nifty50 21997.7 -1.51 71457
Bharti Airtel Limited 1168.75 -2.95 7528096 3117807 73.37 Niftybank 46981.3 -0.64 71457
Jublfood 431 -3.15 3472508 2238461 72.65 Nifty it 36946.45 -0.75 71457
Dalmia Bharat Limited 1825.5 -4.38 450072 407289 69.19 India Vix 14.43 5.79 84837
Grasim Ind Ltd. 2149.1 -1.6 881145 616657 69.15 Nifty Fmcg 53664.15 0.05 71457
Mah & Mah Ltd. 1853.7 -2.19 4270994 2197384 68.96 Nifty Pharma 18635.7 -1.7 71457
Ultratech Cement Limited 9593.55 -0.23 415925 160397 68.13 Nifty Realty 826.5 -5.32 71457
Godrej Cons Products Ltd 1194.1 -1.51 1206909 415516 67.51 Nifty Auto 20338.25 -2.84 71457
Syngene 670.45 -3.35 771428 691086 64.9 Nifty Metal 7647.4 -5.69 71457
Coromandel International 1072.95 -4.02 358551 303184 64.83 Nifty Financial Services 20758.2 -0.67 71457


   Domestic                                                                                                                                                  International
INR: Trade Balance on 15th March, 2024

INR:FX Reserves, USD on 15th March, 2024

USD: Retail Sales (MoM) (Feb) on 14th March, 2024

USD: PPI (MoM) (Feb) on 14th March, 2024


  • The Indian market closed deep in the red on March 17 as broad-based selling and the mid and smallcap meltdown continued for another day, spooking investors. At close, the 30-pack Sensex was down 906.07 points, or 1.23%, at 72,761.89, while the broad-based Nifty ended 338.00 points, or 1.51%, lower at 21,997.70.

  • Investment has become a major driver of India’s booming economy, according to economists at Morgan Stanley, adding that the country’s current expansion resembles that of the mid-2000s when growth averaged more than 8%. The economists also said the economy appears to have room for even further expansion, given the path for additional capital expenditure — especially from private businesses — rising exports and a more stable economy.

  • IIFL Finance Ltd. is planning to raise Rs 2,000 crore through a mix of equity and debt. The board has approved plans to raise up to Rs 1,500 crore through a rights issue and Rs 500 through the issue of non-convertible debentures on a private placement basis, according to an exchange filing on Wednesday.

  • The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government.

Source: Economic Times, Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ANSALAPI Final Dividend;Quarterly Results 14-Mar-24 BEL Interim Dividend 15-Mar-24
GOLDLEG General 14-Mar-24 LASTMILE Issue Of Warrants;Preferential Issue of shares;General 15-Mar-24
MANRAJH General 14-Mar-24 MANGALAM General 15-Mar-24
MIDHANI Interim Dividend 14-Mar-24 NGIL General 15-Mar-24
PRIMEFRESH General 14-Mar-24 NIDHGRN Bonus issue 15-Mar-24
ROSEMER Preferential Issue of shares;General 14-Mar-24 PROFINC General 15-Mar-24
SAWABUSI Right Issue of Equity Shares;General 14-Mar-24 SIL Interim Dividend 15-Mar-24
SGIL Right Issue of Equity Shares 14-Mar-24 SPANDANA General 15-Mar-24
SHAH Preferential Issue of shares 14-Mar-24 TAHMARENT General 15-Mar-24
SPECFOOD Right Issue of Equity Shares 14-Mar-24 THINKINK Dividend;Stock  Split;Bonus issue 15-Mar-24
SRUSTEELS Increase in Authorised Capital 14-Mar-24 ORIENTALTL Right Issue of Equity Shares;Right Issue of Equity Shares with Warrants;Issue Of Warrants;Preferential Issue of shares 16-Mar-24
TIHIL General 14-Mar-24 RECLTD Interim Dividend 16-Mar-24
TOYAMSL General 14-Mar-24 VIKASECO General 16-Mar-24
TRANSPACT General 14-Mar-24 WARDINMOBI General 16-Mar-24
XTGLOBAL General 14-Mar-24 CANOPYFIN General 17-Mar-24
APIS Quarterly Results 15-Mar-24 DWL General 18-Mar-24


Company Name 29-Feb-24 Buy Back of Shares Company Name Ex-Date Purpose
DATAINFRA 14-Mar-24 Income Distribution (InvIT) OIL 18-Mar-24 Interim Dividend – Rs. – 8.5000
WEL 14-Mar-24 Interim Dividend – Rs. – 1.0000 TIERRA 18-Mar-24 Right Issue of Equity Shares
AUTOINT 15-Mar-24 Interim Dividend – Rs. – 0.5000 TINEAGRO 18-Mar-24 Stock  Split From Rs.10/- to Rs.1/-
BALKRISHNA 15-Mar-24 Right Issue of Equity Shares TINEAGRO 18-Mar-24 Bonus issue 1:1
CANOPYFIN 15-Mar-24 Amalgamation COLABCLOUD 19-Mar-24 Bonus issue 1:1
FOCUS 15-Mar-24 E.G.M. COLABCLOUD 19-Mar-24 Stock  Split From Rs.10/- to Rs.2/-
GAEL 15-Mar-24 Bonus issue 1:1 KAMAHOLD 19-Mar-24 Interim Dividend – Rs. – 19.0000
IIFLSEC 15-Mar-24 Interim Dividend – Rs. – 3.0000 KEI 19-Mar-24 Interim Dividend – Rs. – 3.5000
INDGELA 15-Mar-24 Interim Dividend – Rs. – 10.0000 KESAR 19-Mar-24 Bonus issue 6:1
ISMTLTD 15-Mar-24 Interim Dividend – Rs. – 0.5000 RAJATH 19-Mar-24 E.G.M.
KIRLFER 15-Mar-24 Interim Dividend – Rs. – 3.0000 RAMASTEEL 19-Mar-24 Bonus issue 2:1
MKPL 15-Mar-24 Bonus issue 2:1 SUDARSCHEM 19-Mar-24 Interim Dividend – Rs. – 3.6000
PADAMCO 15-Mar-24 E.G.M. TVSMOTOR 19-Mar-24 Interim Dividend – Rs. – 8.0000
ROBU 15-Mar-24 E.G.M. AGIIL 20-Mar-24 Interim Dividend – Rs. – 1.0000
SBILIFE 15-Mar-24 Interim Dividend – Rs. – 2.7000 AXTEL 20-Mar-24 Interim Dividend – Rs. – 6.0000
WAAREERTL 15-Mar-24 Stock  Split From Rs.10/- to Rs.2/- DWARKESH 20-Mar-24 Buy Back of Shares

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