Indices open positive; SENSEX up 300 pts, NIFTY50 above 22,600 level; IndusInd Bank down over 5%

The equity benchmark indices on Monday, March 10, opened positive in a choppy trade following the global cues and continued foreign fund outflows. Market investors remained cautious, awaiting more developments on the trade war.

At 10:04 AM, the S&P BSE SENSEX was up 288.01 points, or 0.39%, at the 74,620.59 level, while NSE’s NIFTY50 was at the 22,636.10 level, rising 83.60 points, or 0.37%.

However, the market breadth was largely in favour of negatives, as 1,382 stocks declined on the NSE out of 2,458 stocks traded during the opening session.

As many as 32 stocks on the NIFTY50 index were trading in the green and 17 in the red.

Power Grid, Bajaj Finance, Bharat Electronics, Bajaj Finserv and BPCL were the most gaining stocks on the 50-share index, rising as much as 2.20%.

In the first week of March, the foreign investors continue to pull back money from the Indian equity market, withdrawing ₹24,753 crore (about $2.8 billion) amid escalating global trade tensions.

The total outflow by FPIs has reached ₹1.37 lakh crore in 2025 so far, data with the depositories showed. This also marks the 13th consecutive week of net outflows.

Globally, the Asian markets largely traded in green except for China and Hong Kong after key macroeconomic data suggested sustained deflation in the economy. On the other hand, the Japanese and Korean indices traded in green with gains of up to 0.3%.

Chinese consumer prices fell to 13-month lows of 0.7%, against a rise of 0.5% in the previous month. Following the weak data, the Chinese and Hong Kong indices traded in red with losses of up to 0.5%.

The US market on Friday closed higher post-recovering from the early declines after Federal Reserve Chairperson Jerome Powell said the economy was in a good place, but uncertainty about US trade policy led to Wall Street's biggest weekly decline in months.

At close, the Dow Jones Industrial Average rose 222.64 points, or 0.52%, to 42,801.72; the S&P 500 gained 31.68 points, or 0.55%, to 5,770.20; and the Nasdaq Composite gained 126.97 points, or 0.70%, to 18,196.22.

As many as 2,519 stocks traded on the NSE during the early session, among which only 987 stocks were trading in the green, 1,463 in the red and 69 shares remained unchanged.

This indicated that the market breadth was in favour of negative.

As many as 44 stocks hit their one-year low in the early trade, while only 25 stocks touched their 52-week high.

Further, 30 stocks hit their lower circuits while 105 hit their upper circuits.

India VIX, the volatility gauge, was trading 3.74% higher at 13.98 levels.

The broader market remained under pressure during the opening bell with Nifty Midcap 100 trading 0.04% lower at 49,170.40 levels and Nifty Smallcap 100 at 15,429.60 levels, falling 0.48%.

The bank in a stock exchange filing post market hours on Friday said, "Reserve Bank of India, vide its letter dated March 6, 2025, has conveyed its approval for re-appointment of Sumant Kathpalia as MD & CEO of the bank for a further period of one year with effect from March 24, 2025 till March 23, 2026."

The stock, which has been reeling under pressure after credit rating downgrades by CARE and ICRA, announced on Friday, March 7, that the company's promoters have sold approximately 2.37% of total equity shares of the company, amounting to 9,00,000 shares, to unlock liquidity that will be reinvested into the business through equity infusion.