Indian markets ended lower today; the Nifty 50 fell for the 10th straight session, marking its longest losing streak in 29 years. Bombay High Court stayed the FIR order against former SEBI chairperson and three whole-time members. From China's retaliation on US tariffs to Nirmala Sitharaman's statement on India's global role, check out stories that you simply cannot miss today.
Here are the top 8 stories under 8 minutes:
Markets Extend Losing Streak
Nifty 50 fell for the 10th straight session, marking its longest losing streak in 29 years. Weak global cues and concerns over Trump-era tariffs weighed on sentiment, dragging benchmark indices into the red.
Bajaj Auto and Hero MotoCorp led the declines, while Nifty Auto hit a 52-week low. Broader markets outperformed, with Nifty Midcap 150 and Nifty Smallcap 250 recovering sharply. Read the full market wrap.
Relief For Ex SEBI Chief
The Bombay High Court has stayed the FIR order against former SEBI chairperson, three whole-time members, and two BSE officials in the Cals Refinery listing case. The court called the special court’s order “mechanical.”
The petitioner, Sapan Srivastava, has four weeks to respond before the matter is taken up again. Read the full court proceedings.
Gensol’s Credit Crunch
Gensol Engineering shares hit a 20% lower circuit after CareEdge downgraded its ratings to CARE D, citing delays in servicing term loan obligations. The agency flagged severe liquidity concerns.
The downgrade impacts four instruments with a total issue size of Rs 716 crore. Get the full rating report.
China Retaliates On US Tariffs
China imposed up to 15% tariffs on US goods, including chicken and cotton, after the US doubled tariffs on Chinese exports.
Soybeans, beef, and fruits face 10% tariffs, while 10 US firms were added to an “unreliable list.” Read more on the trade war escalation.
India’s Export Challenge
India needs 14.4% annual export growth to reach its $2 trillion target by 2030, but US and EU trade policies could make it difficult, said DGFT chief Santosh Sarangi.
High tariffs, non-tariff barriers, and India’s limited manufacturing competitiveness pose hurdles. Read more on the challenges ahead.
India’s Global Role
Finance Minister Nirmala Sitharaman said India cannot remain a spectator in global affairs and must seize opportunities in the global supply chain. She stressed the need to build economic partnerships, leverage technology, and boost exports.
She highlighted the progress of key budget initiatives, including MSME credit models, the PM Internship Scheme, and regulatory compliance reductions. Read more on the reforms and their impact.
F&O Trade Cools Off
NSE’s average daily premium turnover for index options fell 35% in February, while BSE’s Sensex options trading volume dropped 46%. The decline follows SEBI’s October 2024 reforms, with further cooling expected.
New open interest rules could impact proprietary trading, with intra-day monitoring set to begin on April 1. See the full market impact.
Ola Electric's Bhavish Aggarwal Goes Full Elon Musk
Taking a page out of Elon Musk’s ‘DOGE’ playbook, Bhavish Aggarwal wants all Ola Group employees to send a weekly email on the work done. That would form the basis of whether they get to keep their job or not. “We’re starting ‘Kya Chal Raha Hai?’—a simple way to share your weekly updates directly with me and your managers, starting today,” Aggarwal wrote in his message to employees. Read full story on Bhavish Agarwal's Kya chal raha hai here.
Here are other top stories of the day that you cannot miss
NSE shifts F&O monthly expiry days of Bank Nifty, FinNifty, others to Monday.
Bharat Forge to UPL — a guide to Indian stocks under Trump's tariff thunder.
Musk Vs rest: Race for first trillionaire is closer than you think.
Oyo speeds up IPO plans as founder’s debt repayment date looms.
PM Modi promises Rs 2 crore loans to five lakh first-time entrepreneurs.
New bilateral investment treaty to boost investment: CEA.
Belrise Industries gets SEBI nod for Rs 2,150-crore IPO.
Zomato, Swiggy at discount — food delivery being ignored versus quick commerce, says ICICI Securities.
Her world, her way: Women's international travel soars with solo travelling on the rise.
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