After opening day on a positive note, Indian benchmark indices sustained their upward trajectory, building on their gains throughout the session to close on a strong note.

Benchmark Indian equity indices continued their northward movement for the sixth consecutive session to settle with gains of over 1%.

At the closing bell, the BSE Sensex  closed Higher by 1078 points (up 1.4%)

Meanwhile, the NSE Nifty closed points 307 Higher (up 1.3%)

Kotak Mahindra, Tech Mahindra, SBI are among the top gainers today

Titan, Trent, and Bharti Airtel on the other hand, were among the top losers today.

The GIFT Nifty was trading at  23,714 higher by 288 points at the time of writing.

The BSE MidCap index ended 1.3% higher and the BSE SmallCap index ended 1.2% higher.

Sectoral indices were trading positive with stocks in the banking sector and the power sector witnessing most buying.

The rupee is trading at Rs 85.6 against the US$.

Gold prices for the latest contract on MCX are trading 0.1% lower at Rs 87,705 per 10 grams.

Meanwhile, silver prices were trading 0.2% higher at Rs 98,035 per 1 kg.

Here are the four key factors driving the market's momentum:

#1 Better Q4 results 2025

India's GDP growth slowed to 5.4% in the July-September 2024 quarter but rebounded to 6.2% in the October-December 2024 quarter. This uptick in growth is expected to positively impact corporate earnings.

As a result, market estimates suggest that Q4 results in 2025 will be better sequentially. The improved GDP growth momentum is likely to trigger a boost in quarterly earnings.

#2 RBI Rate Cut Buzz

The market is abuzz with expectations of a rate cut by the Reserve Bank of India (RBI) in its upcoming policy meeting in April 2025, following the US Fed meeting last week. A possible RBI rate cut would inject more liquidity into the market, supported by forecasts that India's consumer price index (CPI) inflation will average 4% in FY26. This has led to expectations of a cumulative 75 basis points (bps) rate cut by the RBI, up from the earlier estimated 50 bps easing cycle.

#3 FPIs Coming Back

Foreign portfolio investors (FPIs) infused Rs 74.7 billion (bn) into the Indian market on Friday, driven by the FTSE March Review. This follows FPIs' net purchase of Rs 32.4 bn on 20 March 2025, sparking hopes of a potential shift in sentiment.

In FY25, FPIs have sold Indian shares worth Rs 1500 bn, marking the largest annual sell-off on record.

#4 Bottom Fishing

Both domestic institutional investors (DIIs) and foreign institutional investors (FIIs) have started "bottom fishing", taking advantage of quality stocks available at attractive prices.

DIIs have been consistent buyers in the cash segment, purchasing shares worth Rs 307.8 bn. FIIs also started buying last week, investing Rs 58.2 bn in the cash market, driven by attractive valuations and economic recovery signs.
 

JSW Steel Stock Hits New High

In the news from metal sector, JSW Steel, the flagship company of the diversified JSW Group, with a market capitalization of Rs 1,980 billion (bn), continued their impressive winning streak for the sixth consecutive trading session on 24 March 2025.

The shares reached a new all-time high of Rs 1,072 per share, marking a significant milestone. This represents a 1.2% increase from the previous closing price.

The company's production stood at 24.1 lakh tonnes, marking a 12% year-on-year (YoY) growth compared to the same period last year.

Notably, JSW Steel's domestic steel production also witnessed a substantial increase, rising 13% YoY to 23.3 lakh tonnes.

Over the past three decades, JSW Steel has undergone a remarkable transformation, evolving from a single manufacturing unit into India's largest and most integrated steel company.

Today, the company boasts an impressive, consolidated crude steel capacity of 35.7 million tonnes per annum (MTPA), cementing its position as a leader in the Indian steel industry.

Diamond Power Infra shares surge 5%, Here's why

Moving on to the news from power sector, shares of Diamond Power Infrastructure, a leading electrical equipment manufacturer and integrated solutions provider, witnessed a significant surge on 24 March 2025.

During intra-day trading on the NSE, the company's shares climbed 5% to hit the upper circuit of Rs 98.9 per share.

The upward momentum in Diamond Power Infrastructure's share price was driven by a significant development, as the company received a letter of intent (Loa) worth Rs 21.5 bn from Adani Green Energy.

Diamond Power Infrastructure, established in 1970, is a leading integrated solutions provider in India's Power Transmission and Distribution (T&D) space. The company offers a wide range of products and services, including turnkey T&D solutions, power cables, transformers, conductors, and transmission towers.

More By This Author:

Sensex Today Rallies 650 Points; Nifty Above 23,500
Sensex Today Rallies 557; Nifty Above 23,300
Sensex Today Trades Marginally Higher; Nifty Above 23,200; IT Stocks Drag