Stock Market Crash News Today Live Updates: Nifty Falls Near 23,500, Sensex Drops 1,700 Points; HDFC Bank, RIL Top Losers

• The government has proposed a softer glide path for fuel efficiency norms under the draft CAFE 2027 framework, with implementation from April 2027.

• The revised emission curve allows slightly higher fuel consumption than the earlier September 2025 draft.

• The framework retains phased tightening of norms through FY32.

• EV and hybrid credits can be used to offset penalties, with trading between companies also permitted.

• Higher-emission vehicles may face financial penalties under the proposal.

• Companies selling fewer than 1,000 units may be exempt from compliance norms.

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• Enviro Infra Engineers rose for a second straight session and gained as much as 14.7% to Rs 198.65.

• Trading volume was 12 times the 20-day average.

• The relative strength index stood at 73, indicating overbought conditions.

• Ola Electric shares fell as much as 7% to Rs 37.96, ending a three-day gaining streak.

• Trading volume was nearly four times the 20-day average.

• The stock had risen 32% in the last five days and 67% over the past 30 days.

• The relative strength index was above 70, indicating the stock had entered overbought territory.

• HDFC Bank was the biggest drag on Nifty, followed by Reliance Industries and ICICI Bank.

• SBI and Infosys were also among the top contributors to the index decline.

• Financial heavyweights led the downside pressure on the benchmark.

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Nifty fell as much as 2% to 23,555
Sensex fell as much as 2.2% or 1,681 points to 75,868

• The Indian rupee opened weaker against the US dollar.

• The local currency fell as much as 60 paise to 93.33 in early trade.

• The move comes amid pressure from higher crude prices and weak global risk sentiment.

• Nifty slipped below 23,300 in pre-open trade, indicating a sharp weak start for markets.

• Sensex fell nearly 1,900 points in early indications.

• The move signals broad pressure at the open amid weak global cues.

• Morgan Stanley said Delhi’s draft EV Policy 2026–2030 offers strong demand incentives for two-wheelers, three-wheelers and small commercial vehicles.

• The policy proposes timelines to phase out ICE two-wheelers and three-wheelers in the city.

• The brokerage said this could be negative for legacy auto makers if other cities adopt a similar model.

• It said implementation may be challenging if buyers shift purchases to NCR markets.

• Electric cars priced up to Rs 30 lakh may get road tax and registration fee waivers, while strong hybrids may receive a 50% waiver.

• Nomura said the latest CAFE 2027 draft signals a clear policy shift towards faster electric vehicle adoption.

• It said the revised framework balances stakeholder interests and keeps FY28 EV targets achievable.

• The brokerage said the changes are particularly positive for Mahindra & Mahindra and Hyundai.

• It said both companies may find it easier to meet norms without changing product plans to launch hybrids.

• Maruti Suzuki and Toyota may need to reassess the viability of hybrid launches under the new framework.

• Macquarie maintained its outperform rating on Adani Ports and raised the target price to Rs 1,860 from Rs 1,760.

• The brokerage cited resilient domestic volumes and continued international scale-up.

• It raised FY27 and FY28 volume and earnings estimates, driven by NQXT consolidation.

• It said near-term volume disruption may be offset by growth drivers including higher transshipment and stronger coal volumes.

• Analysts see Nifty strength continuing after last week’s sharp rally, with 24,300 and 24,700 marked as key resistance levels.

• A move above 24,100 is seen as the trigger for further upside.

• Immediate support is placed at 23,450–23,100 if markets consolidate.

• Bank Nifty is also seen in a bullish setup, with upside levels at 57,300 and 58,000 above 56,300.

• Support for Bank Nifty is seen at 53,000–54,000.

• ICICI Securities initiated coverage on Sumitomo Chemical India with a buy rating and target price of Rs 515.

• It cited parent backing, product pipeline and expansion plans as key growth drivers.

• The brokerage said proprietary technology access and differentiated products support its market position.

• It highlighted return on capital employed above 18% and low leverage.

• It also expects growth from planned capacity expansion and new product launches in FY26.

• Adani Green will be in focus after FY26 operational capacity reached 19.3 GW, up 35% YoY.

• ONGC and Oil India may react after Brent crude rose following failed ceasefire talks.

• RBL Bank plans to issue 90.95 crore equity shares to Emirates NBD at Rs 280 per share.

• Tata Power and EV-linked stocks may see action on the New Delhi EV policy draft.

• Garware Hi-Tech and Arvind are in focus after textile PLI clearance.

• Himadri Specialty and Neogen Chemicals may track plans for a lithium processing support scheme.

• Enviro Infra, Advait Energy, Zaggle, Panacea Biotech and Texmaco are in focus on order wins.

• Swiggy will be watched after co-founder Nandan Reddy stepped down.

• Maruti Suzuki, Bosch and Subros may react to Haryana’s minimum wage increase.

• Fertiliser stocks may remain under pressure after reports China may ban sulphuric acid exports.

• HDFC Bank, ICICI Bank, CRISIL and Swaraj Engines are among companies expected to announce dividends with March quarter results this week.

• Swaraj Engines has the highest projected payout at Rs 109.2 per share, followed by CRISIL at Rs 74.8 and HDFC AMC at Rs 54.68, based on Bloomberg estimates.

• HDFC Bank may announce Rs 13.43 per share, while ICICI Lombard is seen at Rs 14.34.

• Muthoot Finance is the key ex-dividend stock this week, with shares turning ex-dividend on April 17. The company has announced an interim dividend of Rs 30 per share for FY26.

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• Indian markets are set for a weaker start after oil jumped above $100 following failed US-Iran talks and a US blockade move in the Strait of Hormuz.

• Asian markets opened lower, while rising global bond yields added to pressure on equities.

• A weaker rupee opening is expected as higher crude prices may weigh on sentiment.

• Foreign investors were buyers in the cash market after 27 sessions, while short positions in index futures eased to 78% from 80%.

• Nifty weekly expiry may add volatility today.

• Markets will remain shut tomorrow for Ambedkar Jayanti.

• ICICI Securities initiated coverage on Sumitomo Chemical India with a buy rating and target price of Rs 515.

• The brokerage cited parent support, product pipeline and expansion plans as key growth drivers.

• It said access to proprietary technology and differentiated products strengthens the company’s position in the agrochemical market.

• The brokerage highlighted return on capital employed above 18% and low leverage.

• It added that the company plans up to Rs 400 crore of expansion spending and expects new product launches in FY26.

• HSBC initiated coverage on Acme Solar with a buy rating and target price of Rs 350.

• It also started Clean Max with a buy rating and target price of Rs 1,150.

• The brokerage said renewable energy is nearing a new growth phase, with execution now more important than access to capital.

• It expects Acme Solar’s contracted capacity to support earnings visibility and sees EBITDA CAGR of 72% over FY26–28.

• For Clean Max, it expects strong demand as companies shift to lower-cost green power and sees EBITDA CAGR of 60% over FY26–28.

• Consumer durable companies are facing higher costs as the West Asia conflict lifts crude, metal and logistics risks, while a weaker rupee raises import costs.

• Copper and aluminium prices are up 35% and 29% YoY, while HDPE prices rose 46% in March.

• New energy efficiency norms are adding further pressure on production costs.

• Companies have raised prices across categories, with room air conditioners up 5–15%, fans about 5%, and refrigerators and washing machines up 3–5%.

• Blue Star, Voltas, LG Electronics, Hitachi, Crompton Greaves Consumer and Whirlpool are among companies in focus.

• The full impact on volumes and margins may be visible from Q1FY27 after existing inventory is exhausted.

• India’s March CPI inflation data will be tracked for cues on prices and interest rate outlook.

• IMD’s monsoon forecast is due, a key trigger for agriculture, rural demand and inflation-sensitive sectors. Private forecaster Skymet has projected below-normal rainfall.

• Q4 earnings due from ICICI Prudential Asset Management, Swaraj Engines and Just Dial.

• NSE will start trading in dated Brent crude oil (Platts) futures contracts.

• OPEC monthly report will be watched for supply and demand signals.

• US home sales data is due later in the day.

• US-Iran talks in Pakistan ended after 21 hours without an agreement, with the main deadlock centred on US demands for an explicit Iranian commitment against pursuing nuclear weapons.
• After the talks collapsed, Donald Trump said the US would begin a blockade targeting maritime traffic linked to Iranian ports, while saying non-Iranian shipping would not be impeded.
• Iran said the talks failed because of shifting US demands and warned against military moves in the Strait of Hormuz, keeping geopolitical and oil market risks in focus.

Source: Reuters, Al Jazeera and Associated Press

Donald Trump said the US will blockade the Strait of Hormuz after talks with Iran ended without a resolution.

He also said the US Navy would seek and interdict vessels linked to Iranian trade, signalling further escalation in the region.

• The S&P 500 fell 0.11% on Friday to end at 6,816.89.

• The Dow Jones Industrial Average declined 269.23 points, or 0.56%, to close at 47,916.57.

• The Nasdaq Composite rose 0.35% to 22,902.89, helped by gains in semiconductor stocks such as Nvidia and Broadcom.

• Australia’s ASX 200 slipped 0.41%.
• Hong Kong’s Hang Seng fell 0.71%, while Japan’s Nikkei 225 declined 0.74%.
• South Korea’s Kospi dropped 0.90%, while China’s Shanghai Composite was flat.

• US crude futures for May surged nearly 8% to $104.20 a barrel.
• Brent crude for June rose 7% to $101.86.
• Prices climbed after reports that the US Navy is preparing to block Iran’s ports following failed peace talks.

• GIFT Nifty traded at 23,784 in early trade.
• This compares with the Nifty 50’s previous close of 24,050.60.