Stock Market @ 9:15 AM: Sensex down 162 points & Nifty-50 down 0.2% dragged by Tata Group Stock

At the 9:15 am opening bell, the Indian stock market kicked off in the red, with the Sensex dropping 146 points and the Nifty 50 declining by 0.2 per cent. This early slump was largely driven by weakness in major Tata Group stocks, specifically Tata Steel and Titan Company, which weighed heavily on the indices.

Market breadth skewed toward the bears as 1,625 stocks declined compared to 1,079 advances, while 215 remained unchanged. Interestingly, despite the downward pressure, 25 stocks managed to hit 52-week highs, though they were outnumbered by 70 stocks touching 52-week lows.

The broader market reflected similar cautious sentiment, with the BSE 150 Mid-Cap Index slipping 0.39 per cent and the BSE 250 Small-Cap Index trading down 0.38 per cent. While the overall mood was sombre, some buying interest emerged in specific names like Syngene International Ltd, Honeywell Automation India Ltd and Thermax Ltd, which led the gainers alongside TTK Prestige and Healthcare Global Enterprises.

On the flip side, significant selling pressure was seen in Top Losers such as Shakti Pumps (India) Ltd, Blue Jet Healthcare and Angel One Ltd, marking a volatile start to the session.

Pre Market Updates

Following a tough Friday where the Sensex and Nifty both slid over 1.25 per cent, the early signals suggest we aren't out of the woods just yet. With GIFT Nifty trading down over 100 points, brace yourselves for a gap-down start as the market digests heavy profit booking and lingering selling pressure, particularly from the IT sector.

Global cues are providing a mixed bag of energy this morning. While the S&P 500 and Dow Jones managed to scratch out tiny gains thanks to cooling inflation data, the tech-heavy Nasdaq took a hit as AI disruption fears continue to spook investors. Over in Asia, markets are looking relatively quiet and consolidated, hampered by weak economic data out of Japan and holiday-thinned trading volumes. It seems the world is in a "wait-and-see" mode.

On the domestic front, keep a sharp eye on the Healthcare sector today. Stocks like Piramal Pharma, Alkem, Natco and Zydus are under the microscope following a wave of USFDA approvals and observations. We also have plenty of corporate action to track with TCS, Religare and Ixigo making moves through fresh acquisitions and strategic developments. Meanwhile, the Banking sector is buzzing about the RBI’s upcoming margin rules, which will demand full collateral backing starting April 1.

Institutional activity shows a bit of a tug-of-war happening behind the scenes. On Friday, FIIs offloaded a significant Rs 7,395 crore, while DIIs tried to cushion the fall by picking up Rs 5,553 crore. Despite the recent selling, FIIs actually remain net buyers for the month of February so far. In the commodities space, gold has eased slightly to USD 5,014/oz as volatility hits leveraged bets, while crude oil remains steady with Brent hovering around USD 67.74. Stay sharp, watch those levels and remember that Sammaan Capital and SAIL are on the F&O ban list today!

Disclaimer: The article is for informational purposes only and not investment advice.