The company has approved a long-term borrowing of up to Rs 12,000 crore via external commercial borrowings or other means. L&T has also appointed Subramanian Sarma as deputy managing director and president.
Larsen & Toubro has approved a long-term borrowing of up to Rs 12,000 crore- Daily Market Update 24th March 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat note.
- European equity markets ended on flat to negative note.
- Majority of Asian equity markets are trading in green.
- GIFT Nifty is up by 50 points, Nifty futures likely to open around 23480 levels.
Nifty Overview & Outlook
Benchmark Nifty index settled higher at 23350 levels after adding 160 points to its previous closing values.
Broader markets outperformed the benchmark as Mid and Small cap indices gained 1.38% & 2.06% respectively.
All sectoral indices, barring Metals and Consumer Durables, settled in green. Amongst them, Nifty Media was at the top of the tally, gained over 2% followed by Oil & Gas, Health Care, Banking and Financial Service index that gained in range 1% to 2%.
Technically, Nifty index have reached the resistance of 23400 spot levels that also coincide with the confluence zone of 100 DEMA & 200 DEMA, possibility of minor profit taking up to 23100-23000 spot levels can not be ruled out at this juncture. Going ahead, we suggest traders to continue with buy on dips trading approach till it is holding above 22900 spot levels. Cross and sustenance above 23400-23450 spot zone will take it for the next up move up to 23800 spot levels in immediate near term.
Derivatives Overview & Outlook
Last Friday, Nifty, Banknifty and Midcapnifty futures shed over 3% of open interest each as short covering along with some long buildup in Finnifty futures that added around 10% of open interest.
All of sectoral indices, barring Nifty Metal, settled on a positive note. Amongst them, Capital Goods, Power, Technology and Textile stocks witnessed maximum addition of long positions, whereas some short buildup was observed in Metal stocks.
On option front, call writing along with some put writing was seen at multiple strikes and maximum positions are at 23000 PE and 24000 CE.
Institutional Trading Activity
Last week, FIIs bought stocks worth Rs 6624 Cr in the cash segment, bought stocks futures worth Rs 11558 Cr also bought index futures worth Rs 14004 Cr. DIIs were too buyers in the cash segment to the tune of Rs 4339 Cr during the week.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23500-23620; Supports 23300-23200
Banknifty – Resistances 50800-51000; Supports 50400-50200
Finnifty – Resistances 24700- 24800; Supports 24450-24300
F&O Security in Ban Today: HINDCOPPER, INDUSINDBK & POLYCAB.
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates.
AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZ Finstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited, Lakshya Impex Private Limited and Launchpad Fintech Private Limited are associates of GCML.
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