Markets Today: FIIs; Sebi proposal; Trump tariffs; Gold; Active, Rapid IPOs

FY25 wrap: At 6:34 AM, GIFT Nifty Futures were down 28 points at 23,749, suggesting a negative start

Stock Markets Today, March 28, 2025: FIIs buying heavily, weak global cues and uncertainty over Trump’s tariffs are likely to set the tone for Indian benchmarks, Nifty50 and Sensex, on the last trading day of the financial year 2025 (FY25). 

At 6:34 AM, GIFT Nifty Futures were down 28 points at 23,749, suggesting a negative start.

 

In the previous session, the Sensex gained 317.93 points (0.41 per cent) to close at 77,606.43, and the Nifty50 rose 105.10 points (0.45 per cent) to end at 23,591.95.

FY25 wrap

 

Global cues

 

Asia-Pacific markets were mixed on Friday, following Wall Street’s losses as US President Donald Trump’s tariff threats kept investors on edge.

 

ASX 200 dropped at the beginning, but pared losses later, and was trading 0.21 per cent higher. Nikkei was down 2 per cent, while Topix was down over 2.15 per cent each. Kospi slipped 1.94 per cent. 

 

Investors continued to focus on shares of automakers, which saw a dip on Thursday after Trump announced a 25 per cent tariff on ‘all cars that are not made in the United States.’ However, Trump’s recent comments about the upcoming April 2 tariffs have alleviated some concerns. He mentioned that the tariffs would be “very lenient” and expressed a willingness to reduce tariffs on China in order to facilitate a deal with ByteDance's TikTok.

 

Trump also used tariffs as a bargaining chip on Thursday, warning that he could impose ‘far larger’ duties on the EU and Canada if they united to oppose the tariffs.

 

In the US, all three major stock indexes ended lower overnight. The Dow Jones dropped 0.37 per cent. The S&P 500 declined 0.33 per cent, while the Nasdaq fell 0.53 per cent.

 

Domestic cues

 

FII, DII

 

Foreign Institutional Investors (FIIs), on March 27, bought shares worth Rs 11,111.25 crore, while Domestic Institutional Investors (DIIs) net sold shares worth Rs 2,517.70 crore.

 

Since resuming their buying activity, FIIs have made a net purchase of Rs 32,488.63 crore in the last six trading sessions.

 

IPO market

 

Active Infrastructures IPO (SME) and Rapid Fleet IPO (SME) will list on the bourses. 

 

Also Read: Missed the IPO bus? Time to buy selectively for the long-term, say analysts

 

Spinaroo Commercial IPO (SME) and Infonative Solutions IPO (SME) will open for subscription.

 

Additionally, Identixweb IPO (SME) will enter Day 3 of its subscription, while ATC Energies IPO (SME) and Shri Ahimsa IPO (SME) will see their allotment.

 

Also Read: NSE IPO hangs in the balance as Sebi flags regulatory gaps in fresh letter

 

Other triggers

 

The Securities and Exchange Board of India (Sebi) has proposed limiting equity derivatives expiries to either Tuesdays or Thursdays for all exchanges.

 

Indian companies reached a record high in fundraising for FY25, with ₹11.1 trillion raised through equity and debt, including ₹11.04 trillion via private debt placements.

 

The Reserve Bank of India (RBI) plans to double the foreign investor cap in listed companies to 10 per cent, aiming to attract more capital. 

 

Also Read: Govt announces borrowings of Rs 8 trillion in the first half of FY26

 

Besides, the RBI will meet bankers on April 3 to discuss potential changes to its liquidity management framework ahead of the April monetary policy committee (MPC) meeting.

 

The insurance industry has seen major deals, including Bajaj Group’s ₹24,180 crore acquisition of Allianz’s stake in their joint ventures.

 

Also Read: Banking system net liquidity improves on back of RBI's swap auction

 

In February, regular SIP accounts declined by 0.8 million, marking the first monthly drop in at least three years.

 

Commodity market 

 

Gold hit a record high on Thursday, rising 1.1 per cent to $3,052.24 an ounce amid growing global trade tensions and falling equity markets following President Trump’s auto tariff announcement. US gold futures climbed 1.5 per cent to $3,066.60, also hitting an all-time high.

 

Oil prices edged up as traders evaluated tightening crude supplies and the potential impact of new US tariffs on the global economy. Brent crude rose 24 cents to $74.03 a barrel, while US WTI increased 27 cents to $69.92.

 

Here's how analysts are assessing today's (March 28) trading session:

 

Shrikant Chouhan, head of equity research at Kotak Securities

 

On the higher side, 23,750/78,000 and 23,800/78,200 would act as key resistance areas for traders. Conversely, a dismissal of 23,400/77,100 could change the sentiment. Below this level, the market could slip to 23,300-23,225/76,800-76,500.

 

Hrishikesh Yedve, AVP of technical and derivatives research at Asit C Mehta

 

If the index sustains above 23,810, the rally could extend towards 24,000–24,080 levels, where its 200-Days Simple Moving Average (200-DSMA) is placed. Traders are advised to follow a ‘buy on dips’ strategy in Nifty as long as it holds above the 100-DEMA support of 23,390.