Weekly Update-21 March 2025

NIFTY50

The index ended the week with a robust gain of 4.26%, closing at 23,350.40. This marked a significant recovery after a prolonged downtrend, displaying exceptional strength throughout the week. The rally was broad-based, with all sectors contributing positively, reflecting strong buying interest and improved market sentiment. The sharp upmove indicates that the index has successfully defended lower levels and is attempting to establish a short-term bottom. Moving forward, the key resistance levels are around 23,800, while immediate support is seen near 23,000 levels. Sustaining above these levels could attract further buying momentum in the coming sessions.

BANKNIFTY

The index ended the week with a strong gain of 5.27%, closing at 50,593.55, clearly outperforming the Nifty by displaying exceptional strength throughout the week. The rally was primarily led by PSU banking stocks, which showed remarkable gains compared to Private banking. The sustained buying interest across the index suggests a positive sentiment and a potential shift in momentum towards the upside. Moving forward, the key resistance levels are around 51,800, while immediate support is seen near 49,300. Maintaining momentum above these levels could further strengthen the bullish outlook.

Best Performing Sector of the week

The Nifty PSE was best performing sector of this week

Major gainers include:-

Coal India: up by 7.16%

Powergrid: up by 5.77%

REC: up by 5.48%

PFC: up by 5.01%

Important News:-

• IRFC has scheduled a board meeting on March 17 to consider declaring a second interim dividend for the financial year 2024-25. The record date to determine eligible shareholders is set for March 21.

• Tejas Networks received ₹123.45 crore from the Ministry of Communications under the Production-Linked Incentive (PLI) Scheme for the financial year 2023-24, supporting the company's growth and manufacturing expansion.

• GR Infraprojects secured the Agra-Gwalior Greenfield Road project worth ₹4,262.78 crore, awarded by the National Highways Authority of India (NHAI). The project will be developed under the Build-Operate-Transfer (BOT) toll model.

• Infosys McCamish Systems, a subsidiary of Infosys, agreed to a $17.5 million settlement for six class-action lawsuits in the U.S. related to a cyber incident in November 2023. The settlement was reached through mediation on March 13, 2025.

• Zydus Lifesciences received final approval from the U.S. Food and Drug Administration (USFDA) to manufacture Eluxadoline Tablets in 75 mg and 100 mg dosages. Eluxadoline is a mu-opioid receptor agonist used in treating irritable bowel syndrome with diarrhea.