Equity Alert
Nifty 50 April ends at premium of 123.20 points to spot index
This story was originally published at 16:05 IST on 30 March 2026
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Equity Alert: Nifty 50 April ends at premium of 123.20 points to spot index
MUMBAI--1551 IST--The April futures contract of the Nifty 50 closed at a premium of 123.20 points to the spot index Monday. Open interest in the contract rose 50.6% to 21.61 million, according to provisional data.
--Nifty 50 closed at 22331.40 points, down 488.20 points or 2.1% vs Friday
--Nifty 50 April closed at 22454.60 points, down 454.10 points or 2% vs Friday
Nifty 50 options, expiring Apr. 7, with maximum change in open interest:
Call: 23500, Put: 20500
Nifty 50 options, expiring Apr. 7, with maximum open interest:
Call: 24000, Put: 20500
(Simran Rede)
Equity Alert: European mkts mostly flat; W Asian war shows no sign of easing
MUMBAI--1542 IST--European indices were largely flat on Monday, with sentiment muted as the war in West Asia showed no signs of easing. The US President Donald Trump told the Financial Times that he could take the oil in Iran and seize its Kharg Island. Indices in the United Kingdom and Italy were up 0.1-0.5%, while those in Germany and France were down 0.1-0.2%. The pan-European Stoxx 600 was up 0.2%.
High oil prices due to the US-Iran war have raised risks of higher inflation and interest rates across Europe. The European Central Bank is determined to prevent any energy-driven inflation from broadening, but it is premature to decide when to hike rates, Francois Villeroy de Galhau, the French central bank governor, said, according to Reuters.
Germany's consumer price index in six regions was up 2.5-2.9% on-year in March. Stocks in Germany were under pressure after the CPI data, with the Dax down 0.2% compared with an earlier 0.3% gain. Inflation for the entire country is scheduled to be released later in the day.
The following were the levels of major European indices at 1540 IST:
|
Index |
Level |
Change in % |
| FTSE 100 Index | 10021.23 | 0.54 |
| CAC 40 | 7701.04 | (-)0.01 |
| FTSE MIB INDEX | 43399.64 | 0.05 |
| DAX PERFORMANCE-INDEX | 22274.23 | (-)0.12 |
| SLI | 1998.86 | (-)0.02 |
(Ruchira Kagita)
Equity Alert: NSDL shares slip 5% to fall below IPO price; dn 44% from high
MUMBAI--1520 IST--Shares of National Securities Depository fell over 5% to INR 790 on BSE, slipping below their issue price for the first time. The stock had been listed on the bourse at INR 880, a 10% premium to its issue price of INR 800.
The company was listed on BSE in August and its shares have declined every successive month since. As of 1517 IST, shares of the company were down more than 44% from their all-time high. So far in March, the shares have dropped almost 16%, recording the stock's sharpest fall in a month.
National Securities Depository reported weak earnings for the December quarter. Its revenue rose 14% on year to INR 1.69 billion and its net profit rose marginally. On a sequential basis, however, its revenue fell 10%, dragged down by a sharp fall in revenue from its depository business.
Of the three brokerage reports available with Informist on the stock, one has a "buy" recommendation while two say "hold". (Eshitva Prakash)
Equity Alert: Indices remain sharply down; Nifty 50 notches fresh record low
MUMBAI--1500 IST--Benchmark equity indices stayed lower with the sharp losses dragging down the Nifty 50 index to a fresh 11-month low of 22350.65 points. Only four constituents of the 50-stock index traded higher. Banking and financial services stocks remained the worst hit during the session.
The Nifty 50 index, which extended its losses for the second session, was around 2% lower at 1416 IST. The BSE Sensex was at 72219.04, down 1.9%, at 1416 IST. Broader market indices showed the worst performance compared with its benchmark peers. All the smallcap as well as midcap indices were down over 2%. The Nifty PSU Bank was down almost 4% and down the most.
India VIX, remained higher at 27.9400, up over 4%. The fear gauge index was up for the second session, gaining over 17% during this period.
Bajaj Finance, down over 4%, was the laggard among the 50-stock constituents, followed by Axis Bank, down nearly 4%. Bajaj Finance was down for the second session. Bajaj Finserv, Jio Financial Services, State Bank of India, and HDFC Bank were down over 3?ch.
Coal India and Hindalco Industries were up over 2%. Coal India was up for the third straight session after the company received a letter of award to set up a 750 megawatt-hour energy storage unit in Choutuppal, Telangana. Oil and Natural Gas Corp. and Power Grid Corp. of India were the two other stocks trading higher. ONGC was up over 1%, while Power Grid was marginally higher. (Arundathi A R)
Equity Alert: Most Asian indices down; Japan, South Korea markets down for 3rd day
MUMBAI--1450 IST--Most major indices in Asia closed in negative territory Monday as hostilities in West Asia entered their second month. Japan's Nikkei 225 Day and South Korea's KOSPI posted the steepest declines among their peers, down nearly 3?ch to log losses for the third straight session. The Shanghai Composite Index was the only index in the region that managed to rise, though it ended only marginally higher Monday.
High crude oil prices pose a risk for Asian countries as most of them are net importers of the commodity. At 1415 IT, the Brent Crude May futures contract was hovering near $116 per barrel, up around 3% from Friday and more than 60% higher since the war began.
The Bank of Japan, at its recent monetary policy meeting, said the situation in West Asia is a risk and its impact on the markets and the economy should be examined. The central bank may consider opting for a tighter monetary policy if the yen depreciates further and wages and imports increase at a higher-than-anticipated rate, the central bank said in its policy statement.
Shares of Mazda Motor, Mitsubishi Motors Corp., and Komatsu fell the most, down 7-8%. In South Korea, shares of SK Hynix Inc., Hyundai Motor Co., and SK Square Co. declined 5-6%.
Sentiment was weak as there is no sign of the hostilities in West Asia abating soon. Yemen's Houthis joined battle by striking Israel over the weekend while reports suggested the Pentagon may consider launching ground operations in Iran. There were reports that the US has sent additional troops to the region.
Following were the levels of major Asian indices at closing:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4491.95 |
(-)0.24 |
|
Hang Seng Index |
24750.79 |
(-)0.81 |
|
Nikkei 225 Day |
51885.85 |
(-)2.79 |
|
TOPIX FIRST SECTION |
3542.34 |
(-)2.94 |
|
KOSPI |
5277.3 |
(-)2.97 |
|
FTSE Singapore Strait Times |
4894.26 |
0.08 |
|
S&P/ASX 200 INDEX |
8461 |
(-)0.65 |
(Ruchira Kagita)
Equity Alert: JPMorgan ups HDFC Bk to 'overweight', Jefferies retains 'buy'
MUMBAI--1306 IST--Global brokerage JPMorgan has upgraded HDFC Bank to 'overweight' from 'neutral' with a target price of INR 1,010 and said the risk-reward for investment has improved after a sharp correction, CNBC-TV 18 reported. Separately, brokerage Jefferies has reiterated its 'buy' rating on the stock with a price target of INR 1,240, according to various media reports.
JPMorgan said HDFC Bank's valuation has corrected to its lowest price-to-book level since the merger announcement in April 2022, and is now at a 16-year low for the parent entity, following a 24% year-to-date decline in the stock price. The brokerage added that the stock has underperformed both peers and the broader market. ICICI Bank is down about 8% year-to-date, and the Nifty 50 has declined around 13%.
JPMorgan sees a recovery in system-wide credit growth, and expects an improvement in return on assets as higher-cost borrowings are gradually replaced by lower-cost deposits. Another factor helping the bank is a strong asset quality review track record and robust liability franchise, which position it well in an uncertain macro environment where investors tend to favour large-cap quality names, the brokerage said. It added that while a tight deposit environment could continue to weigh on sentiment and earnings, the recent valuation correction already factors in much of this risk.
Jefferies said the stock is now trading at a discount to large private sector banks and only a modest premium to its peers. The brokerage also finds valuations attractive for the lender's stock, supported by strong asset quality, healthy growth prospects, and a stable return on equity profile. The brokerage also said that sensitivity to higher credit costs and slower top line growth remains manageable. It added that greater clarity on board-level developments, including the chairman's appointment and chief executive officer's tenure rollover, could act as key triggers for a potential re-rating.
Despite the upgrade from JPMorgan, at 1301 IST, shares of HDFC Bank were down 1.7% at INR 743.65 on the NSE. (Eshitva Prakash)
Equity Alert: Motilal Oswal upgrades Eicher Motors to 'neutral' from 'sell'
MUMBAI--1258 IST--Brokerage Motilal Oswal upgraded its recommendation on Eicher Motors to 'neutral' from 'sell' and raised its target price for the stock to INR 6,960. This comes after the Royal Enfield owner launched the Guerrilla 450 Apex motorcycle. Demand for 350 cubic centimetres motorcycles is currently outpacing supply, Motilal Oswal said. Earlier, demand had weakened after Goods and Services Tax was revamped for this segment. Royal Enfield's recent product interventions in the above 350cc category have aided the demand recovery, the brokerage said after interacting with the management of Eicher Motors.
Export-related challenges remain for Royal Enfield, according to the brokerage. North America, Europe and Thailand make up around 50% of the company's exports. Demand in these regions is curtailed due to tariff-related concerns and macroeconomic headwinds. However, exports to Brazil, Argentina, Columbia, Japan, Australia, New Zealand, and South Korea are healthy, the brokerage said. Brazil makes up around 25% of Royal Enfield's volumes, the brokerage noted.
Amid the ongoing hostilities in West Asia, shortages in supply of gas pose production-linked risks for Eicher Motors. The management said it has less than a week's gas supplies assured, Motilal Oswal said. Further, while freight costs are rising, less congestion at the Chennai port is helping the company manage its freight.
Motilal Oswal estimates Eicher Motors' revenue and profit to see compounded annual growth of 18% and 15%, respectively, over 2024-25 (Apr-Mar) and FY28. "...expect RE (Royal Enfield) to continue to focus on driving demand, which is likely to keep margins under pressure going forward," the brokerage said. At 1256 IST, shares of Eicher Motors were 2.4% lower at 6,645.50 on the National Stock Exchange. (Ruchira Kagita)
Equity Alert: Urban Co rises 8?ter InstaHelp hits 1 mln monthly bookings
MUMBAI--1252 IST--Shares of Urban Co. rose around 8% to an intraday high of INR 123.29. The company on Saturday said its quick-service housekeeping vertical, InstaHelp, has surpassed 1 million monthly delivered bookings as of Mar. 28.
In February, the platform crossed more than 50,000 daily orders, marking InstaHelp the fastest-scaling business unit in Urban Co.'s history, it said in an exchange filing. InstaHelp is currently operational across Mumbai, Bengaluru, Delhi-National Capital Region, Pune, and Hyderabad. Under this vertical, the firm offers consumers housekeeping services such as laundry, dishwashing, cleaning and meal preparation.
Last week, brokerage firm Motilal Oswal Financial Services had initiated coverage on the stock with a 'neutral' recommendation and a target price of INR 125. The brokerage had noted that InstaHelp is at an early stage of its business and remains an optionality. "The on-demand instant services category addresses real needs but remains more situational than habitual," Motilal Oswal said. Continued investments in onboarding, training, and supply expansion are likely to sustain cash burn, making the adoption trajectory and unit economics key monitorables, the brokerage said.
At 1248 IST, shares of Urban Co. traded at INR 121.08, up nearly 6% from the previous close. So far in the day, over 17 million shares of the company have changed hands on the National Stock Exchange, compared to the nearly 3 million shares traded till the same time Friday. (Arya S. Biju)
Equity Alert: Nifty 50 hits 11-month low, slips below 22480 level
MUMBAI--1215 IST--Domestic benchmark indices extended losses Monday as top-performing stocks pared some of their gains. The Nifty 50 slipped below the 22480 level, hitting a fresh 11-month low of 22453 points. Only five constituents in the 50-stock index traded in the green.
Hindalco Industries came off its earlier highs though it remained the highest gainer in the Nifty 50, up 3%. Select oil and energy companies also pared some of their gains. Shares of Coal India were higher for the third consecutive session, up 3%. The company received an order from the Telangana Power Generation Corp. to set up a 750-megawatt-hour storage unit in Telangana. Oil And Natural Gas Corp. was up nearly 2%. The company Sunday said it had commissioned the B-12-24P platform for the Daman Upside Development Project in the western offshore basin, marking the commencement of gas monetisation from the project.
Shares of banks and financial services companies continued to be major laggards in the Nifty 50 index. Axis Bank remained the worst hit stock, down nearly 4%. Index heavyweights HDFC Bank and ICICI Bank were down over 1?ch, while shares of other financial service providers were down 2–3%.
The banking sector indices witnessed the steepest fall among their peers, with the Nifty PSU Bank down over 3%. Shares of Union Bank of India and Punjab & Sind Bank were the biggest laggards in the index, down around 4%.
Metal and energy companies were the highest gainers in the Nifty 200 and the Nifty 500 indices, with shares of Steel Authority of India and National Aluminium Co. up over 6% and 5%, respectively. Increasing metal prices are likely to have a favourable effect on the revenues of domestic players, according to a report by ICICI Direct. Tata Motors continued to be the worst hit stock in the Nifty 200 index, down over 8%. IRB Infrastructure Developers remained the worst-hit in the Nifty 500 index, down nearly 46%, adjusting for the bonus issue of shares. (Shruti Nair)
Equity Alert: Central Mine Planning lists at INR 160, 7% discount vs IPO price
MUMBAI--1121 IST--Central Mine Planning & Design Institute, a wholly-owned subsidiary of Coal India, listed at INR 160 on the National Stock Exchange, nearly 7% discount to the issue price of INR 172. On BSE, the stock listed at INR 162.80, over 5% discount to the issue price. At 1115 IST, shares of the company were trading over 1% lower at INR 158.09 on the NSE.
The initial public offering of the company, which ended on Mar. 24, was fully subscribed with the company receiving bids for 83.70 million shares against 79.79 million shares on the offer. The offer comprised only an offer-for-sale in which the promoter, Coal India, offloaded 107.10 million shares.
The company provides consultancy and support services across the full spectrum of coal and mineral exploration, as well as mine planning and design. It also offers services related to infrastructure engineering, environmental management, geomatics, specialised technology services, and management systems – primarily serving the coal industry, but also extending to other minerals. The company had reported a net profit of INR 4.25 billion for the quarter ended December on revenue of INR 14.90 billion. (Adhithya Aji)
Equity Alert: Coal India up 3% post 750 MWh battery energy storage unit order
MUMBAI--1120 IST--Shares of Coal India rose over 3% Monday to a high of INR 459.40. The stock was up for the third straight session after the company received a letter of award to set up a 750 megawatt-hour energy storage unit in Choutuppal, Telangana. The stock has gained almost 4% during these three sessions of gain.
Coal India expects an outlay of INR 10.6 billion on the project awarded by the Telangana Power Generation Corp. Ltd. The company will complete the project within 18 months from signing the battery energy storage purchase agreement.
In another development, the company and Damodar Valley Corp. have incorporated a 50:50 joint venture company called DVC CIL Power. Both will subscribe to 50,000 equity shares of INR 10 each as initial capital, according to a filing by the company to the bourses.
At 1113 IST, shares of Coal India were 1.5% higher at INR 451.60 on NSE. So far, nearly 10 million shares of the company have changed hands on the exchange, higher than nearly 7 million shares traded till the same time Friday.
Of the nine brokerage recommendations available with Informist on the company, six have a 'buy' recommendation with an average target price of INR 481. Of the remaining three, two have a 'sell' recommendation while one has a 'hold' recommendation on the stock. (Arundathi A R)
Equity Alert: Indices extend losses as bank stocks fall further
MUMBAI--1108 IST--Benchmark stock indices extended losses, with shares of banks and financial services companies falling further. Energy and metal companies were the main gainers in the Nifty 50. At 1045 IST, the Nifty 50 was at 22502.65 points, down 1.4%, and the BSE Sensex was at 72507.92, down 1.5%. Less than 10 constituents of the Nifty 50 were trading higher.
Index heavyweights HDFC Bank and ICICI Bank were down over 1% each, while Axis Bank and Kotak Mahindra were the worst hit stocks in the 50-stock index, down over 3%. Shares of Bajaj Finance, Shriram Finance, State Bank of India, and Bajaj Finserv were down 2-3?ch. On Friday, the Reserve Bank of India had mandated banks to cap their net open position in the dollar–rupee market at $100 million by Apr. 10 with the aim to limit speculative long dollar positions and reduce excess volatility in the rupee. While the move is broadly positive for currency stability, it may create short-term earnings volatility for banks' treasury books, according to a report by ICICI Direct.
Hindalco Industries was the top gainer in the 50-stock index, up nearly 5% in early trade, while National Aluminium Co. was the top-performing stock in both the Nifty 200 and Nifty 500 indices. These aluminium producers are expected to benefit from the potential increase in aluminium prices on the London Metal Exchange due to disruption in metal supplies amid the ongoing war in West Asia. Other metal manufacturers Steel Authority of India and Vedanta were up nearly 4% and 2%, respectively.
All the broader market indices were in negative territory. The Nifty small-cap and mid-cap indices were down around 2?ch. Select energy stocks saw gains, with shares of Coal India and Oil and Natural Gas Corp. trading nearly 2% and 1% higher, respectively.
In the Nifty 200, Tata Motors was the worst hit stock, down over 7%, while IRB Infrastructure Developers was the worst-hit stock in the Nifty 500, down nearly 46%, adjusting for the bonus issue of shares. (Shruti Nair)
Equity Alert: Bank stocks fall after RBI caps onshore open rupee positions
MUMBAI--1056 IST--Stocks of most banks declined in early trade Monday, with the Nifty Bank index falling as much as 2.7% to its lowest levels in nearly a year, following the Reserve Bank of India's announcement post-market hours Friday mandating banks to cap their net open position in the dollar–rupee market at around $100 million by Apr. 10. The move is aimed at curbing speculative long dollar positions and reduce excess volatility in the rupee. Banks have sought relaxation or an extension of the deadline.
While the move is seen as structurally positive for currency stability, it may lead to significant unwinding of positions by banks in both the onshore and offshore markets. The net open position is defined as the residual currency exposure a bank carries after offsetting all its positions. Under extant norms, banks can set net open position limits within 25% of the total capital. Market participants' estimate for such positions is around $35 billion – $40 billion as of Friday, with large banks holding around $5 billion worth of positions.
The tighter norms on foreign exchange transactions would prompt traders to unwind arbitrage trades between the non-deliverable forward and onshore markets, leading to banks dealing with sharp losses, according to dealers at the foreign exchange market. The forced unwinding of large positions could potentially lead to treasury losses, wider onshore-offshore spreads and tighter market liquidity, ICICI Direct Research said in a report.
"While the measure may support short-term rupee appreciation, sustainability remains contingent on external factors. Overall, the move is structurally positive for currency stability but may create short-term earnings volatility for banks' treasury books," the brokerage said.
At 1034 IST, the Nifty Bank index was down 2.5%, with all of its constituents trading in the red. AU Small Finance Bank, Kotak Mahindra Bank, Bank of Baroda, IDFC FIRST Bank, Union Bank Of India, Axis Bank, Canara Bank, IndusInd Bank, and YES Bank traded 3-4% lower and were the worst hit among the index constituents. (Arya S. Biju)
Equity Alert: Aluminium cos up; Hindalco top gainer in Nifty 50 index
MUMBAI--1055 IST--Shares of aluminium companies Hindalco Industries, National Aluminium Co., and Vedanta were 2-5% higher Monday. The move comes due to a significant rise in aluminium prices after smelters in the United Arab Emirates and Bahrain were hit by Iran strikes. Emirates Global Aluminium and Aluminium Bahrain sustained attacks. Hindalco Industries gained the most in the benchmark Nifty 50 index, up 3%.
The three-month March futures contract of aluminium on the London Metal Exchange was up nearly 4% at $3,419 per metric tonne. At 1054 IST, the April futures contract of aluminium on the Multi Commodity Exchange was up nearly 3% at INR 348.5 per kilogram.
The West Asia region accounts for 8–9% of global aluminium production, ICICI Securities said in a report. "...any disruption of metal supplies from Middle-East can potentially lead to rise in LME (London Metal Exchange) Aluminium prices which is beneficial for primary producers operating in India," the brokerage said. (Ruchira Kagita)
Equity Alert: IRB Infra down 51%; trades adjusting to bonus issue of shares
MUMBAI--1043 IST--Shares of IRB Infrastructure Developers fell nearly 51% to a low of INR 20.10. The shares of the company were adjusting for the bonus issue of shares. In February, the board of the company approved a 1-for-1 bonus issue of shares in which one new equity share of INR 1 is to be issued for every existing equity share worth INR 1. Wednesday has been set as the record date for the issue.
At 1042 IST, shares of IRB Infrastructure Developers were nearly 19% lower at INR 22.25. Nearly 40 million shares of the company changed hands, over eight times the number of shares traded till the same time Friday. (Adhithya Aji)
Equity Alert: Indices open lower; crude oil prices weigh amid West Asia war
MUMBAI--0950 IST--On the last trading session of the month, the benchmark equity indices opened sharply lower Monday as crude oil prices surged amid the West Asia war. The May futures of the Brent Crude Oil contract extended gains for the third straight session, and stood above the $110-per-barrel mark. Crude oil prices continued to rise on concerns over supply disruptions amid the Yemeni Houthis launching attacks on Israel over the weekend.
At 0942 IST, the Nifty 50 was at 22680.55 points, down 139.05 points or 0.6% and the BSE Sensex was at 73058.81, down 524.41 points or 0.7%. Less than 15 of the Nifty 50 constituents were in the green. India VIX, the fear gauge of the domestic equity market, was up over 7%, indicating a rise in nervousness among investors.
"The Goldilocks macro scenario which India had before the war has almost disappeared thanks to the war...now we face prospects of lower GDP growth, higher inflation, higher fiscal and current account deficits and lower earnings growth for FY27 (2026-27 Apr-Mar)," V.K. Vijayakumar, chief investment strategist at Geojit Investments, said in a note.
The rupee surged after the Reserve Bank of India tightened onshore foreign exchange net open position norms, which mandate lenders to ensure that net open rupee positions in the onshore deliverable foreign exchange market do not exceed $100 million at the end of each business day, latest by Apr. 10.
Broader market indices also extended losses. All the smallcap as well as midcap indices were down over 1%.
Sectoral indices showed a mixed performance, with most of them in negative territory. Barring the Nifty Metal, the Nifty Oil & Gas, the Nifty Energy, and the Nifty Media, all other sectoral indices were lower. The Nifty Private Bank was the worst hit sectoral index, down over 2%, with all its constituents in the red.
Banking stocks fell the most at open. Index heavyweight Axis Bank pulled the 50-stock index sharply down, being the biggest laggard among the constituents. The stock was down 4%. It was followed by Kotak Mahindra Bank, which was down over 3%. Both stocks were also the worst hit among the Nifty Bank constituents. The sectoral index was down over 2%.
Hindalco Industries was the top gainer among the 50-stock constituents, up 4%. Most metal stocks rose in the early session. National Aluminium Co. was up 6%. Shares of Vedanta were up nearly 4%. The Nifty Metal index was the top gainer among the sectoral indices, up over 1%. IRB Infrastructure Developers was the worst hit among the Nifty 500 stocks, down almost 46%. The stock was sharply down as it was set to trade ex-bonus from Monday. (Arundathi A R)
Equity Alert: Asian indices open lower Mon as West Asia war enters 2nd month
MUMBAI--0830 IST--All major Asian stock indices opened lower Monday as the war between US-Israel and Iran entered its second month. High Brent crude oil futures, at around $116 per barrel, affected investor sentiment. Japan's Nikkei 225 and Topix, and South Korea's Kospi posted the steepest decline, down 4?ch. The Kospi had opened nearly 5% lower.
Bank of Japan's Governor Kazuo Ueda said that the central bank would closely monitor currency moves. The Japanese yen on Friday hit 160.15, its lowest level against the dollar since July 2024. "Currency market moves are obviously among factors that hugely affect economic and price developments," Kazuo Ueda said as reported by Reuters. "We will guide policy appropriately by scrutinising how currency moves could affect the likelihood of achieving our growth and price forecasts, as well as risks," Ueda added.
Meanwhile, the Anthony Albanese-led Australian government slashed fuel excise by half to 26.4 cents from 52.6 cents amid rising crude oil prices. The reduced fuel prices will kick in from Wednesday. "We are making fuel cheaper today because we understand that Australians are under serious pressure," Albanese said, as reported by The Guardian. The ASX 200 was down over 1% Monday.
Following were the levels of major Asian indices at 0833 IST:
|
Index |
Level |
Change in % |
| CSI 300 Index | 4466.6261 | (-)0.80 |
| Hang Seng Index | 24668.92 | (-)1.53 |
| Nikkei 225 Day | 50936.13 | (-)4.57 |
| TOPIX FIRST SECTION | 3497.34 | (-)4.17 |
| KOSPI | 5225.56 | (-)3.92 |
| FTSE Singapore Strait Times | 4888.10 | (-)0.21 |
| S P/ ASX 200 INDEX | 8407.30 | (-)1.28 |
(Ruchira Kagita)
Equity Alert: Indices may open dn as crude rises on widening W Asia conflict
MUMBAI--0815 IST--Benchmark equity indices are expected to open sharply lower on the last trading session of March, as oil prices extended gains due to rising concerns about supply disruptions amid Yemeni Houthis launching their first attacks on Israel over the weekend, widening the conflict in West Asia. Additionally, US President Donald Trump is seeking to take control over Iran's oil sector and seize its export hub of Kharg Island, according to reports. At 0809 IST, Brent Crude Oil futures traded 3.6% higher at $116.61 per barrel.
"The conflict is no longer concentrated in the Persian Gulf and around the Strait of Hormuz, but now extends into the Red Sea and the Bab el-Mandeb — one of the world's most crucial chokepoints for crude and refined product flows," Reuters reported, citing analysts at JP Morgan. In an interview with the Financial Times on Sunday, Trump said his "preference would be to take the oil," comparing it to the US military operation in Venezuela earlier this year when the US effectively gained control of the country's oil industry after the capture of its leader Nicols Maduro.
The Wall Street Journal reported, citing US officials, that Trump was weighing a military operation to extract nearly 1,000 pounds of uranium from Iran, a complex and risky mission that would likely put American forces inside the country for days or longer. However, Trump hasn't made a decision on whether to give the order, the officials said. Adding to the tensions, the Washington Post Saturday reported that the Pentagon was preparing for weeks of potential ground conflict in Iran as thousands of US troops arrive in the region. It was unclear whether Trump would approve all, some or none of the Pentagon's plans, the report said. Following this, Iran on Sunday said it was ready to face US troops on the ground, accusing Washington of secretly planning an assault while seeking negotiations to end the war.
Higher oil prices amid supply disruptions and the escalating conflict in West Asia have spurred concerns about higher inflation and interest rate hikes by central banks across the globe. Policymakers at the Bank of Japan discussed the need for further rate hikes at their March meeting, as rising oil prices linked to the West Asia conflict add to inflation pressures, CNBC reported, citing a summary of opinions released Monday.
In the previous week, the Nifty 50 closed below the crucial 23000 points level, which serves as both a technical and psychological support, indicating underlying weakness, Sundar Kewat, technical and derivative analyst at Ashika Institutional Equities, said. The near-term outlook remains bearish as the index has failed to sustain at higher levels, suggesting continued selling pressure on rallies. "Going forward, the index is likely to drift lower towards the 22000 (points) mark, which stands as the next important support zone. On the upside, immediate resistance is placed at 23000(points), followed by a stronger hurdle near 23450 (points). Any pullback towards these levels is expected to attract fresh selling interest, reinforcing the sell-on-rise strategy in the current market setup," he said. (Arya S. Biju)
Equity Alert: US indices dn for 5th week Fri as West Asia war continues
MUMBAI--0747 IST--Pressure mounted on the Wall Street as all the major indices ended sharply lower Friday. The blue-chip Dow Jones Industrial Average entered the correction zone as it declined more than 10% from its peak. Meanwhile, the technology-heavy Nasdaq Composite had entered the correction zone Thursday and remained so during Friday's session. Shares of all the Magnificent Seven stocks fell Friday with those of Meta and Amazon down over 4?ch.
All the three major indices in the US ended lower for the fifth straight week on Friday. Sentiment was weak due to continued hostilities between the US and Iran and high Brent crude oil prices. Crude was hovering around $115 per barrel, up 2.5% from Friday. US futures declined after crude oil futures rose more from last week. At 0742 IST, the E-Mini Dow futures of June was down 0.5%.
Yemen's Houthis joined the offensive in West Asia by striking a missile against Israel. The US President Donald Trump said the Pentagon may be planning ground operations in Iran, according to reports. Trump may be considering an operation to extract 1,000 pounds of uranium from Iran, The Wall Street Journal reported.
Consumer sentiment report by the University of Michigan came in below the Street's expectations. Consumer Sentiment Index fell to its lowest level since December to 53.3 in March from 56.6 in February. Analysts had pencilled in the March figure to be at 54. Further, expectations for inflation over the next 12 months rose to 3.8% in March from 3.4% in February.
Following are the closing levels of US indices Friday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6368.85 | (-)1.67 |
|
NASDAQ Composite |
20948.357 | (-)2.15 |
|
Dow Jones Industrial Average |
45166.64 | (-)1.73 |
(Ruchira Kagita)
End
US$1 = INR 94.83
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
All prices from National Stock Exchange, unless otherwise specified.
All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.
All times are Indian Standard Time.
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