Early Indicators Signal Positive Momentum; US and Asian Markets Rally
The GIFT Nifty, an early indicator for the benchmark Nifty 50, was up 1.99% at 22,880 as of 6:21 a.m., reflecting optimism ahead of domestic trading hours. Meanwhile, equity futures for the US (S&P 500) and Europe (Euro Stoxx 50) rose by 2.91% and 0.49%, respectively, indicating positive sentiment in global markets.
Indian Markets Extend Losses in March
Indian equities closed lower on Monday, marking a second consecutive session of decline. The Nifty 50 dropped 2.1% to settle below 22,350, while the Sensex fell over 1,600 points, ending below 72,000. The month of March proved challenging for Indian markets, with the Sensex and Nifty declining 11%, their worst performance since the COVID period. For the fiscal year ending March 2026, the Nifty decreased over 5%, and the Sensex fell 7%.
US Markets Surge on Geopolitical Optimism
US equities rallied sharply following President Donald Trump’s announcement to end the ongoing conflict within two to three weeks. The S&P 500 surged 2.9%, while the Nasdaq 100 jumped 3.4%, marking their best daily gains since May. The rally followed the White House’s reversal of several global tariffs, bolstering investor confidence.
Asian Markets Follow Suit
Asian markets also experienced gains, with Japan and South Korea leading the charge. The MSCI Asia Pacific Index climbed 1.6%, supported by optimism that geopolitical tensions might ease, with about seven stocks advancing for every one declining.
Commodities Steady Amid Middle East Tensions
Oil prices stabilized after hopes for a resolution in the Middle East conflict. West Texas Intermediate (WTI) crude stood at $102 per barrel, after a 1.5% decline yesterday. Gold prices rose 1.2% to $4,700 an ounce, extending a 3.5% gain from the previous session.
Stocks to Watch
- Lupin: Secures tentative US FDA approval for Sugammadex Injection, used to reverse neuromuscular blockade.
- NTPC Green Energy: Signs MoU with SECI for Green Ammonia supply; partners with PTC India for renewable energy sales.
- Capri Global Capital: Announces Rs. 5,000 crore NCD issue, with Tranche-I opening on April 15.
- NTPC Green Energy: Fully operationalizes 78.02 MW Khavda-I Solar PV; begins operations at 90 MW Khavda-II.
- GMR Power & Urban Infra: Acquires an additional 2.37% stake in GMR Kamalanga Energy.
- Jain Resource Recycling: Approves acquisition of 26% stakes in three power companies.
- Nazara Technologies: Completes 100% ownership of Nextwave Multimedia.
- Coforge: Gains RBI approval for overseas investments exceeding $1 billion.
- ACS Technologies: Enters strategic partnership with UAE-based AI firm for AI and IoT solutions.
- Sammaan Capital: Issues 33 crore shares to Avenir Investment at Rs. 139/share.
- Texmaco Rail: Secures Rs. 357 crore order from JSW Group for wagons and rakes.
- DOMS Industries: Increases stake in Pioneer Stationery to 64%.
- RailTel: Gets Rs. 29.7 crore order from Jharkhand government.
- United Breweries: Launches new beer brand in India.
- Granules Life Sciences: US FDA inspection at Telangana unit classified as “Voluntary Action Indicated.”
- Valor Estate: Acquires Radius Estates from Adani Goodhomes for Rs. 383 crore.
- Adani Energy Solutions: Completes acquisition of South Kalamb Power Transmission.
- Kaveri Seed: Income tax demand of Rs. 73.25 crore set aside.
- Kwality Wall’s: Appoints Abhijit Bhattacharya as Additional Director and Chairperson.
- Crompton Greaves: Receives Rs. 22.5 crore GST demand.
- Garden Reach Shipbuilders: Records highest-ever turnover of Rs. 6,400 crore; declares 129% interim dividend.
- Gallantt Ispat: CFO Sandip Kumar Agarwal resigns.
- NCC: Secures Rs. 1,292 crore worth of construction orders in March.
- PNC Infratech: CFO Devendra Kumar Agarwal resigns.
- Apollo Pipes: Postpones commercial operations at Mirzapur plant to late April.
- Ramkrishna Forgings: Begins commercial production at new capacity line.
- Britannia: Re-appoints N Venkataraman as CFO for four more years.
- IKS Health: Acquires AI company ThinkDTM.
- Gallantt Ispat: Appoints Pradyumna Kumar Satpathy as CFO, effective April 1, 2026.
- YES Bank: Receives Rs. 210 crore from trusts related to NPA portfolio.
- Avenue Supermarts: Opens 12 new stores, reaching a total of 500 outlets.
- Hindustan Aeronautics: Reports FY26 revenue of Rs. 32,250 crore; order book at Rs. 2.54 lakh crore.
- Mrs. Bectors: Subsidiary’s new bakery facility in Khopoli operational.
- HCLTech: Expands partnership with CrowdStrike for AI-powered security services.
- Rolex Rings: Settles Rs. 101 crore RoR obligations with lenders.
- Indraprastha Gas: Appoints Subhankar Sen as new Chairman from April 1, 2026.
- E.I.D. Parry: Approves closure of refinery operations; plans Rs. 610 crore investment.
Stay tuned for more updates on the markets and major corporate moves.