After opening day on a positive note, Indian benchmark indices turned negative as the session progressed and ended the day lower.

Benchmark Indian equity indices BSE Sensex and NSE Nifty50 erased losses in late noon deals, tracking negative cues from the US stock futures.

At the closing bell, the BSE Sensex  closed lower by 217 points (down 0.3%)

Meanwhile, the NSE Nifty closed 92 points lower (down 0.4%)

HUL, Nestle and Infosysare  among the top gainers today

IndusInd Bank, Bajaj Finance, Trent, on the hand, were among the top losers today.

The GIFT Nifty was trading at  22,50,7, lower by 121 points at the time of writing.

The BSE MidCap index ended 1.5 % lower, and the BSE SmallCap index ended 2.1% lower.

Barring the FMCG sector, most other sectoral indices were trading negatively, with stocks in the oil & gas and realty sectors witnessing selling pressure.

The rupee is trading at Rs 87.3 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% Higher at Rs 86,120 per 10 grams.

Meanwhile, silver prices were trading 0.8% Higher at Rs 97,965 per 1 kg.
 

JSW Steel Shares Hit 4-Month High

In the news from metal sector, JSW Steel's shares surged 2.1% to a four-month high of Rs 1,032.5 on the BSE, fuelled by a 12% year-on-year increase in consolidated crude steel production for February 2025.

The company's consolidated crude steel production for February 2025 stood at 24.07 lakh tonnes, marking a substantial 12% increase from the same period last year. Domestic steel production also saw a notable 13% year-on-year increase, reaching 23.32 lakh tonnes.

The stock's four-month high is also a reflection of the company's promising outlook. With a consolidated crude steel capacity of 35.7 million tonnes per annum (MTPA), including 1.5 MTPA in the US, JSW Steel is well-positioned to capitalize on growing demand for steel.

The company has plans to increase this capacity to 34.2 MTPA with the full commissioning of an expansion project at JSW Vijayanagar Metallics Ltd (JVML) in Karnataka.

The company reported a net profit of Rs 7.2 billion (bn) for Q3 FY25, marking a substantial 70% decline from Rs 24.5 bn in the same quarter of the previous year. This notable decrease in profitability was primarily driven by higher expenses incurred during the quarter. In terms of revenue, JSW Steel's total income for Q3 FY25 stood at Rs 415.3 bn, slightly lower than the Rs 421.4 bn reported in Q3 FY24.

JSW Steel's share price has seen significant growth, with a 23.8% gain over the past year.

Adani Group Stocks See Sharp Rally

Moving on to the news from power sector, Adani Group stocks on 10 March 2025, with a spectacular rally that saw them surge up to 6% in intraday trading on the BSE.

The Adani Group stocks witnessed a significant rally, with several group companies experiencing substantial gains. Adani Power led the charge, zooming 5.7% to Rs 535, followed closely by Adani Green, which rose 3.9% to Rs 870.7. Adani Ports also made notable gains, climbing 2.1% to Rs 1,168. Meanwhile, Adani Enterprises and Adani Wilmar edged higher, with gains of 1.8% to Rs 2,287.4 and 1.7% to Rs 265, respectively.

The Adani Group has indeed demonstrated adequate access to funding despite the US indictment of several board members from Adani Green Energy Limited (AGEL) on 20 November 2024. This has helped alleviate concerns about liquidity and funding, showcasing the group's ability to secure financing and maintain its growth trajectory.

The Adani Group's diversified business interests, spanning sectors such as energy, infrastructure, and logistics, have been a key factor in its growth story
 

HFCL shares surge on Army contract

Moving on to the news from telecom sector, on Monday, HFCL shares experienced significant volatility, initially surging 2.4% to reach an intra-day high of Rs 85.9, up from the previous session's close of Rs 83.86.

HFCL's stock price has experienced significant fluctuations over the past year. The stock has plummeted by 50.92% from its 52-week high of Rs 171, which was reached on 23 September 2024.

Conversely, it has rebounded by 8.6% from its 52-week low of Rs 77.3, which was hit on 3 March 2025. This 8.6% gain also represents the stock's gains for the month of March 2025 so far.

Meanwhile, the company, in an exchange filing on Friday said that it has received an order from the Indian Army to supply Tactical Optical Fiber Cable Assemblies, in a deal worth Rs 0.4 bn.

HFCL is a leading player in designing and implementing digital networks for telecommunications companies, businesses, and government entities. With a strong focus on research and development, the company offers global system integration services.

HFCL has manufacturing facilities in India and serves customers worldwide. Its portfolio includes a range of solutions, such as 5G Radio Access Network (RAN), 5G Transport, Wi-Fi, and defence electronics.

The company's net profit took a hit, declining 10.5% year-over-year (YoY) to Rs 7.4 bn in the quarter ended December 2024, compared to Rs 8.2 bn in the same quarter the previous year.

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