The NIFTY opened at 21946.45 with a gap down of 109 points. The index initially consolidated for about a half hour and eventually broke on the downside. Prices have seen a sharp decline but found support quickly and then again started moving sideways. This time the index continued moving sideways till the end. The index first recorded its intraday high at 21978.30 in its morning trades, then its intraday low at 21793.10 towards the end, and finally closed at 21817.45 with a loss of 238.25 points of 1.08% down. All the sectoral indices have moved in line with the NIFTY and closed lower. IT, MEDIA, PHARMA, and FMCG underperformed today and led the bull by closing over 2% lower followed by OIL GAS. The short-term trend is sideways. We have been tracking a support level around 21900 while a resistance level around 22500. The index has been moving within the above-mentioned level for over 4 weeks but today broke down. The long-term trend is down now while the long-term momentum has reached the weak zone today.


The BANK NIFTY opened at 46421.90 with a gap down of 196 points. The index bounced up but missed the gap filing by a few points and started moving downwards after recording its intraday high at 46602.35. The decline stopped quickly and then the index started moving sideways. That sideways movement continued till the end. Prices have recorded its intraday low at 46258.75 and finally closed at 46333.10 with a loss of 284 points. PSU BANKs have significantly underperformed today, saw a sharp intraday decline, and ended with a loss of 1.56%. PVT BANKs have also moved down today, saw a mild downside move, and ended with a loss of 0.31%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while INDUSIND BANK contributed the lowest. The short-term trend is sideways.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BAJAJ-AUTO.24.03 Mar 8613.25 1.21 2.67 2444000 COLPAL.24.03 Mar 2615.85 -4.15 0.87 3504900
EICHERMOT.24.03 Mar 3733.1 0.51 2.96 3648925 BPCL.24.03 Mar 559.55 -4.1 0.87 25846200
BHARTIARTL.24.03 Mar 1230 0.29 3.42 33753500 OFSS.24.03 Mar 8305.85 -3.96 5.91 1182600
HINDALCO.24.03 Mar 534.1 0.12 0.81 36006600 GUJGASLTD.24.03 Mar 521.2 -3.95 6.83 7112500
SIEMENS.24.03 Mar 4649.15 -3.94 3.12 1056300
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BAJFINANCE.24.03 Mar 6613.15 1.45 -4.91 7810625 INDUSTOWER.24.03 Mar 239 -4 -12.26 88821600
OBEROIRLTY.24.03 Mar 1362.55 1.03 -2.87 5728100 EXIDEIND.24.03 Mar 296.8 -3.64 -0.06 16833600
JUBLFOOD.24.03 Mar 446.25 0.87 -0.75 17817500 IOC.24.03 Mar 155.9 -3.26 -2.76 147956250
TVSMOTOR.24.03 Mar 2048.15 0.85 -2.01 4566450 PNB.24.03 Mar 116.65 -3.03 -0.23 213752000
BALKRISIND.24.03 Mar 2287.05 0.8 -0.74 2240700 HAVELLS.24.03 Mar 1455.15 -2.9 -0.34 5519000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1657 0.04 661062 1107193 87.95 Nifty50 21817.45 -1.08 71451
Shree Cements Ltd. 25050 -1.16 16822 77165 83.35 Niftybank 46384.8 -0.41 71451
Oberoi Realty Limited 1360.5 0.98 901005 1015705 82.06 Nifty it 35814.65 -2.9 71451
Hindustan Unilever Ltd 2266.95 -1.43 4220638 1985682 79.83 India Vix 14.11 1.51 88494
Lalpathlab 2011.05 -0.02 484195 295078 76.08 Nifty Fmcg 52740.9 -2.16 71451
Sun Pharma  Ltd 1548.45 -1.45 3692624 1701719 74.58 Nifty Pharma 18405.65 -2.17 71451
Itc Ltd. 409.55 -1.89 20994563 11863495 74.46 Nifty Realty 829.2 -0.58 71451
Nestleind 2496.05 -3.27 1748864 455426 70.87 Nifty Auto 20354.1 -0.45 71451
Dalmia Bharat Limited 1876.15 -0.47 279862 226299 70.64 Nifty Metal 7923.6 -0.92 71451
Ultratech Cement Limited 9453.25 -1.64 316008 159948 70.63 Nifty Financial Services 20601.95 -0.12 71451


   Domestic                                                                                                                                                  International
INR: Bank Loan Growth on 22nd March, 2024

INR: FX Reserves, USD on 22nd March, 2024

USD: Initial Jobless Claims on 21st March, 2024

USD: Crude Oil Inventories on 20th March, 2024


  • Benchmark indices the Sensex and the Nifty fell over a percent on March 19, dragged by index heavyweights like TCS, Infosys and HDFC Bank. The negativity in Hong Kong and China markets after the Bank of Japan’s decision to hike interest rates after 17 years spilled over to the Indian market.

  • State-owned REC’s board on Tuesday approved a third interim dividend of Rs 4.5 per share with face value of Rs 10 each for 2023-24. Earlier, the company has already announced two interim dividends, totalling Rs 6.5 per share for the current fiscal.

  • Indian oil refiners are on track to take the most American crude in almost a year after tighter enforcement of US sanctions crimped trade with Russia and forced processors to look elsewhere for supply. State-owned Bharat Petroleum Corp. and Indian Oil Corp., along with top private refiner Reliance Industries Ltd., have purchased about 7 million barrels of April-loading US crude so far this month.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ACSTECH Preferential Issue of shares 20-Mar-24 IYKOTHITE Right Issue of Equity Shares 20-Mar-24
ANSALAPI Final Dividend;Quarterly Results 20-Mar-24 JYOTISTRUC Right Issue of Equity Shares;General 20-Mar-24
ANUP Bonus issue 20-Mar-24 PRITHVIEXCH Interim Dividend 20-Mar-24
AVL Interim Dividend 20-Mar-24 RESGEN General 20-Mar-24
BALLARPUR Quarterly Results;Audited Results;General;Preferential Issue of shares 20-Mar-24 SCANPGEOM Right Issue of Equity Shares 20-Mar-24
BGJL General 20-Mar-24 TVSMOTOR Bonus issue 20-Mar-24
BPL General 20-Mar-24 ADVANIHOTR General 21-Mar-24
CARYSIL General;Preferential Issue of shares 20-Mar-24 ANKITMETAL Quarterly Results 21-Mar-24
CNIRESLTD General 20-Mar-24 ASMS Right Issue of Equity Shares;General 21-Mar-24
DAULAT General 20-Mar-24 BDL Interim Dividend;Stock  Split 21-Mar-24
EMERALD Issue Of Warrants 20-Mar-24 ENBETRD Increase in Authorised Capital;General 21-Mar-24
EMMESSA General 20-Mar-24 EXICOM Quarterly Results 21-Mar-24
ETT General 20-Mar-24 KPRMILL General 21-Mar-24
HSCL Issue Of Warrants;General;Preferential Issue of shares 20-Mar-24 LLOYDSME General 21-Mar-24
HUDCO Interim Dividend 20-Mar-24 MAHAPEXLTD Right Issue of Equity Shares 21-Mar-24
INDUSFINL Increase in Authorised Capital;General 20-Mar-24 MARKOBENZ Rights Issue 21-Mar-24


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ADVANIHOTR 20-Mar-24 Bonus issue 1:1 AMBARPIL 22-Mar-24 E.G.M.
AGIIL 20-Mar-24 Interim Dividend – Rs. – 1.0000 BEL 22-Mar-24 Interim Dividend – Rs. – 0.7000
AXTEL 20-Mar-24 Interim Dividend – Rs. – 6.0000 COVIDH 22-Mar-24 Resolution Plan -Suspension
DWARKESH 20-Mar-24 Buy Back of Shares MIDHANI 22-Mar-24 Interim Dividend – Rs. – 1.4100
EASTSUGIND 20-Mar-24 E.G.M. PADALPO 22-Mar-24 E.G.M.
KAKATCEM 20-Mar-24 E.G.M. PFC 22-Mar-24 Interim Dividend – Rs. – 3.0000
MISHTANN 20-Mar-24 Right Issue of Equity Shares RACONTEUR 22-Mar-24 E.G.M.
PAISALO 20-Mar-24 Bonus issue 1:1 REFEX 22-Mar-24 Stock  Split From Rs.10/- to Rs.2/-
RONI 20-Mar-24 E.G.M. TIL 22-Mar-24 Right Issue of Equity Shares
ACL 21-Mar-24 E.G.M. GARFIBRES 26-Mar-24 Buy Back of Shares
ALFAVIO 21-Mar-24 E.G.M. UVDRHOR 26-Mar-24 Stock  Split From Rs.10/- to Rs.5/-
CASTROLIND 21-Mar-24 Final Dividend – Rs. – 4.5000 SPECFOOD 27-Mar-24 Right Issue of Equity Shares
INDINFR 21-Mar-24 Income Distribution (InvIT) AVL 28-Mar-24 Interim Dividend
KSOLVES 21-Mar-24 Interim Dividend – Rs. – 5.0000 CRISIL 28-Mar-24 Final Dividend – Rs. – 28.0000
PATANJALI 21-Mar-24 Interim Dividend – Rs. – 6.0000 DHATRE 28-Mar-24 Stock  Split From Rs.10/- to Rs.1/-
VIPULLTD 21-Mar-24 E.G.M. HUDCO 28-Mar-24 Interim Dividend

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