Markets close flat; Reliance leads gainers, banking stocks underperform; Trump’s tariff decision and oil prices impact sentiment.
March 7, 2025: Stock Market Highlights: Nifty Closes Above 22,500, Sensex Falls 30 Points Amid Mixed Global Cues
Indian equity markets end flat despite positive breadth; Reliance leads gainers, while banking stocks lag behind.
Mumbai: The Indian stock market closed on a flat note on Friday, March 7, as mixed global cues, oil price volatility, and US tariff policy uncertainties kept investors cautious.
The Nifty 50 ended 7 points lower at 22,538 (-0.03%), while the Sensex dipped 31 points to 74,309 (-0.04%). The Nifty Bank underperformed, closing 180 points down at 48,448 (-0.37%).
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Key Market Highlights:
1. Dollar Index and US Trade Policy Impact Sentiment
- The Dollar Index remained steady at 104 as investors awaited the US monthly jobs report.
- Concerns over US trade policies and Trump’s decision to delay tariffs on Mexican and Canadian automakers impacted global market sentiment.
2. Trump’s Tariff Decision Brings Market Uncertainty
- US President Donald Trump temporarily halted tariffs on imports from Canada and Mexico, a move that eased immediate concerns but kept investors wary of future trade disruptions.
- The 25% tariff threat remains a major concern for markets amid ongoing economic uncertainty.
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3. Oil Prices Hold Steady But Face Weekly Decline
- Brent crude edged up 0.19% to $69.59 per barrel, while WTI crude gained 0.08% to $66.44 per barrel.
- Despite the slight uptick, oil prices remain on track for their biggest weekly decline since October, driven by trade tensions and rising global supply.
4. Reliance Industries Leads Gainers
- Reliance Industries surged 3.7%, hitting an intraday high of ₹1,254.55 and extending its five-day rally to 5.6%.
- The stock added ₹1.15 lakh crore to its market capitalization, rising from ₹15.72 lakh crore on March 4 to ₹16.87 lakh crore today.
5. Broader Market Performance
- BSE MidCap Index fell 0.20% to 39,928.17.
- BSE SmallCap Index showed resilience, gaining 0.94% to 45,691.73.
6. Top Gainers and Losers in Nifty 50
Gainers:
- Reliance Industries (+3.18%)
- Nestlé India (+1.55%)
- Adani Ports (+1.06%)
- Tata Motors (+0.87%)
- UltraTech Cement (+0.78%)
Losers:
- IndusInd Bank (-1.82%)
- NTPC (-1.43%)
- Shriram Finance (-1.27%)
- Infosys (-1.18%)
- Power Grid Corp (-0.98%)
7. Sectoral Trends
- Nifty Media Index surged 2%, with Zee Entertainment rising nearly 5%, followed by Saregama India, Network18, Den Networks, and Hathway Cable & Datacom.
- BEL (Bharat Electronics) stock gained 2%, following order wins worth ₹577 crore since February 20.
8. Market Breadth Favors Bulls
- Of the 2,906 stocks traded on the NSE, 1,934 advanced, while 889 declined, indicating a positive market breadth.
Market Outlook
With global markets reacting to trade uncertainties, oil prices, and macroeconomic indicators, investors are expected to closely monitor US job data and Federal Reserve signals.
The Indian market remains range-bound, with stock-specific action driving momentum. Analysts suggest staying cautious amid ongoing geopolitical and economic developments.
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