Stock Market Today: All You Need To Know Going Into Trade On March 22

Japan's benchmark index Nikkei 225 index hit a fresh high on Friday as data showed inflation in the region rose past the Bank of Japan's inflation target of 2% in February.

The Nikkei 225 was trading 0.40% higher at 40,978.26 as of 06:32 a.m. It rose to all-time high of 41,087.75.

Japan's headline consumer price rose to 2.8% on year in February, from 2.2% in January, Bloomberg reported.

Other markets in Asia-Pacific region were trading on a mixed note as investors assessed Federal Reserve's policy outcome. The S&P ASX 200 was 0.30% down, and the KOSPI index was 0.22% higher as of 06:34 a.m.

The relentless rally in U.S. stocks powered ahead on optimism that the Fed will be able to engineer a soft landing, which would bolster the outlook for corporate earnings, according to Bloomberg.

The S&P 500 Index touched a fresh high on Thursday and settled 0.32% higher. The Nasdaq Composite and Dow Jones Industrial Average settled 0.20% and 0.68% higher respectively.

Brent crude was trading 0.19% lower at $85.59 a barrel. Gold was higher by 0.18% at $2,185.27 an ounce.

The GIFT Nifty was trading 35 points or 0.16% higher at 22,077.00 as of 06:35 a.m.

India's benchmark equity indices gained for the second day, with financial services stocks contributing the most to advances following the U.S. Federal Reserve's decision to keep interest rates unchanged.

The NSE Nifty 50 ended 172.85 points, or 0.79%, higher at 22,011.95, while the S&P BSE Sensex was up 590.60 points, or 0.82%, at 72,692.29.

Overseas investors remained net sellers of Indian equities on Thursday.

Foreign portfolio investors offloaded stocks worth Rs 1,826.9 crore and domestic institutional investors remained net buyers, mopping up equities worth Rs 3,208.9 crore, the NSE data showed.

The Indian rupee strengthened by 2 paise to close at 83.15 against the U.S. dollar.

• IT Stocks: Indian information technology stocks are expected to fall, tracking lowered revenue outlook by Accenture Plc.

• Muthoot Finance: The company acquired an additional 4.48% stake in unit Belstar Microfinance for Rs 300 crore. The shareholding now stands at stake to 63.50%.

• Life Insurance Corp: The company increased its stake in LTIMindtree from 4.99% to 5.03%.

• Wipro: The company incorporated a new entity, 'SDVerse', with General Motors and Magna International.

• Bharat Dynamics: The company approved the appointment of G. Gayatri Prasad as chief financial officer and approved the split of each share into two.

• Reliance Power: The company has settled its entire obligations with respect to its borrowings from DBS Bank India. As a result, the assets of the 45 MW wind power project are free from encumbrance.

• Mazagon Dock: The company accepted the Mumbai Port Authority's 29-year lease for the allotment of land and building on a long-term lease basis of 29 years. The total allotment costs Rs 354 crore.

• Sarda Energy: The company’s unit received a letter of intent for a licence for an iron ore block in Maharashtra.

• Tata Chemicals: The company received an order from the income tax department levying a penalty of Rs 103.6 crore.

• Jindal Saw: NCLT-approved scheme of amalgamation among Jindal Quality Tubular, Jindal Tubular (India), Jindal Fittings and Company.

• Tata Communications: The board approved an agreement to hive-off a new edged digital services business for Rs 458 crore.

• Bank of India: The board will meet on March 27 to consider a proposal for fund raising through the issue of long-term (infra) bonds.

• Azad Engineering: The company approved the incorporation of two subsidiaries.

• Crompton Greaves Consumer Electricals: The company received notice from the income tax department for a tax demand of Rs 68 crore for AY23.

• Prestige Estates: The company’s unit acquired 62.5 acres of land for Rs 468 crore in the NCR for an integrated township.

• Samhi Hotels: The company invested Rs 5.55 crore in its subsidiaries, Duet India Hotels (Pune), and Rs 1.31 crore in Duet India Hotels (Ahmedabad).

• Star Housing Finance: The company entered a co-lending partnership with Tata Capital Housing Finance S to service 5000 home buyers in the EWS/LIG segment in the first phase of engagement.

• Lloyds Metals: The company will raise Rs 5,000 crore without resorting to debt.

• Agro Tech Foods: Sachin Gopal resigned from the post of managing director.

• Just Dial: The company received Rs 38.36 crore from Karnataka High Court after cancelling land allotment in Bengaluru Urban District.

• Dhanuka Agritech: The company signed a memorandum of understanding with the Indian Council of Agricultural Research for scientific and technical cooperation.

• Grauer & Weil (India): The company entered into a technology transfer and licence agreement with OTMK GmbH, which shall be valid for 10 years.

• Skipper: Promoter Ventex Trade acquired 66,000 shares on March 20.

• Gokul Agro Resources: Promoter Ritika Infracon bought 92,500 on March 20.

• Mangalore Chemicals and Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 2.25 lakh shares on March 19.

• IEX: To meet analysts and investors on March 26.

• Rhi Magnesita: To meet analysts and investors on March 27.

• Indian Hotels: To meet analysts and investors on March 26.

• Prataap Snacks: To meet analysts and investors on March 27.

• GPT Healthcare: To meet analysts and investors on March 27.

• Symphony: To meet analysts and investors on March 26.

• Price band revised from 5% to 20%: Mukka Proteins.

• Ex/record dividend: Power Finance Corp, Mishra Dhatu Nigam, Bharat Electronics.

• Ex/record Stock Split: Refex Industries.

• Moved out into short-term ASM framework: Exicom Tele-Systems, Navkar Corporation, Reliance Infrastructure.

• Nifty March futures up by 0.95% to 22,102.5 at a premium of 90.55 points.

• Nifty March futures open interest down by 2.2%.

• Nifty Bank March futures up by 0.77% to 46,794.65 at a premium of 109.75 points.

• Nifty Bank March futures open interest down by 1.16%.

• Nifty Options March 28 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,000.

• Bank Nifty Options March 27 Expiry: Maximum Call Open Interest at 47,000 and Maximum Put open interest at 46,500.

• Securities in ban period: Balrampur Chini Mills, Biocon, Indus Tower, Piramal Enterprise, SAIL, Tata Chemicals, Zee Entertainment Enterprise.

The Indian rupee strengthened by 2 paise to close at 83.15 against the U.S. dollar.

• Reliance Industries - Turning New Energy Vision To Action: Motilal Oswal

• Godrej Consumer Products - Scaling Up Domestically, Simplifying Its International Business; Buy: Anand Rathi

• Cera - Focus On Premiumisation, Expansion: Prabhudas Lilladher

• Gland Pharma - Performance In Revival Mode; Valuation Attractive: Motilal Oswal

• Varun Beverages - Robust All-Round Performance: Axis Securities

• Tatva Chintan - Delay In EU 7 Implementation Poses Risk To SDA Growth: Nirmal Bang