The upcoming trading week will be shorter due to holidays, with market participants closely monitoring both global and domestic events.

At 11:30 IST, the barometer index, the S&P BSE Sensex, rose 238.07 points or 0.32% to 74,566. The Nifty 50 index added 68.50 points or 0.30%, to 22,621.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.10% and the S&P BSE Small-Cap index declined 0.64%.

The market breadth was negative. On the BSE, 1,655 shares rose and 2,155 shares fell. A total of 200 shares were unchanged.

Economy:

India's forex reserves dropped by $1.781 billion to $638.698 billion in the week ended February 28, the RBI said on Friday.

Foreign currency assets, a major component of the reserves, decreased by $493 million to $543.35 billion.

Gold reserves decreased by $1.304 billion to $73.272 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by $27 million to $17.998 billion, the apex bank said.

India's reserve position with the IMF fell by $12 million to $4.078 billion in the reporting week, the apex bank data showed.

Buzzing Index:

The Nifty FMCG index added 0.83% to 52,322.40. The index rallied 3.55% in the four consecutive trading sessions.

Hindustan Unilever (up 1.88%), Nestle India (up 1.49%), Godrej Consumer Products (up 1.36%), United Spirits (up 0.92%), Dabur India (up 0.85%), Britannia Industries (up 0.71%), ITC (up 0.53%), Colgate-Palmolive (India) (up 0.46%), Varun Beverages (up 0.38%) and Tata Consumer Products (up 0.29%) advanced.

On the other hand, United Breweries (down 0.34%), Radico Khaitan (down 0.12%) and Marico (down 0.03%) edged lower.

Stocks in Spotlight:

Zydus Lifesciences rose 0.13%. The company announced that it has received final approval from the United States Food and Drug Administration (USFDA) to manufacture Ketoconazole Shampoo, 2% (USRLD: Nizoral Shampoo, 2%).

JSW Steel advanced 1.57% after the company said that its consolidated crude steel production jumped 12% to 24.07 lakh tonnes in February 2025 as compared with 21.50 lakh tonnes produced in February 2024.

Indian Renewable Energy Development Agency's (IREDA) slipped 1.24% after the Reserve Bank of India (RBI) rejected the company's request for equity investment in the 900 MW Upper Karnali Hydropower Project in Nepal.

Global Markets:

US Dow Jones index futures were down 167 points, indicating a negative opening in the US stocks today. Investors remained wary of uncertainty surrounding President Donald Trump’s tariff policies and mulled over Federal Reserve Chair Jerome Powell’s cautious remarks.

Most Asian stocks traded lower on Monday as traders analyzed fresh economic data from China. Over the weekend, China’s consumer inflation dipped into negative territory for the first time in 13 months, driven by seasonal distortions and broader economic headwinds. The consumer price index (CPI) fell 0.7% year-over-year in February, reversing a 0.5% gain in January, according to the National Bureau of Statistics.

Adding to market jitters, Beijing announced retaliatory tariffs on certain Canadian agricultural products. The move comes after Canada imposed import duties last year on Chinese electric vehicles, steel, and aluminum. Under the new measures, China will slap a 100% tariff on Canadian rapeseed oil, oil cakes, and peas, while a 25% levy will be applied to aquatic products and pork.

In the U.S., major stock indices closed higher on Friday after a volatile trading day. The S&P 500 index rose 0.55% to 5,770.20, while the Nasdaq Composite gained 0.7% to 18,196.22. The Dow Jones Industrial Average added 222.64 points, or 0.52%, to end at 42,801.72.

Meanwhile, the latest labor market data painted a mixed picture. The U.S. economy added 151,000 jobs in February—falling short of expectations—while the unemployment rate ticked up to 4.1% from January’s 4.0%, signaling possible cracks in labor market resilience.

Speaking on Friday, Fed Chair Jerome Powell reaffirmed the central bank’s cautious stance on interest rates. While acknowledging that the U.S. economy remains stable, he emphasized the need for patience, particularly in light of President Donald Trump’s recent economic policy shifts, which include tariffs and federal worker layoffs. Powell’s comments suggest the Fed is in no rush to alter its policy path amid lingering uncertainties.