Stock Market News Today Live Updates: Nifty Near 24,150, Sensex Up 450 Points; Crude Oil Drops Below $90 A Barrel

• JSW Steel said February crude steel production rose 2% year-on-year to 23.7 lakh tonnes, as per an exchange filing.
• The company said February production from India operations increased 1% year-on-year to 23.06 lakh tonnes.

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• Abizer Diwanji of NeoStrat Advisors told NDTV Profit that PSU banks trade at lower valuations due to social banking norms.
• He said PSU banks face a higher impact because of greater exposure to agriculture loans.
• Diwanji said uneconomical farming is a key issue and that farm loan waivers do not address the problem.

• IDFC First Bank said it has already paid a net principal amount of Rs 645 cr, as per an exchange filing.
• The bank said the claims related to its Chandigarh branch are not a new incident and that principal payout against claims stands at Rs 55 cr.
• It said total deposit balance remains stable and it will continue to pursue action against the perpetrators.

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• Nifty was trading 0.5% higher at 24,151.
• Sensex was up 0.6%, or 450 points, at 78,013, after rising as much as 1.2% to 78,526 earlier in the session.

• The government’s allocation plan sets supply at 100% of the past six months’ average consumption for domestic PNG, CNG, LPG production and pipeline compressor fuel.
• Other sectors get lower allocations versus the past six months’ average: tea industries 80%, manufacturing and other industrial consumers 80%, fertiliser 70%, and oil refiners, petrochemical plants and power plants 65%.
• Separately, the LPG booking period has been increased from 21 days to 25 days to curb hoarding and black marketing, with domestic LPG prioritised over commercial connections, ANI reported citing government sources.

• Nifty rose as much as 1.05% to 24,288 in pre-market trade, hovering near the 24,300 level.
• Sensex climbed 1.2%, up 891 points, to 78,457.

• The rupee strengthened by as much as 44 paise in early trade.
• USD/INR moved to 91.88 at the open.

• Zaggle Prepaid said it has entered into an agreement with CNH Industrial (India), as per an exchange filing.
• The company said the pact is for three years.
• Zaggle said it will provide a reward platform under the agreement.

• Kotak Securities upgraded Escorts to Add from Sell and raised its target price to Rs 3,375 from Rs 3,300.
• The brokerage said core drivers remain intact and tractor sales are now less dependent on the monsoon, with domestic tractor trends mixed during El Nino years.
• It said construction equipment is expected to recover from CY26, and diversification into spares, engines and agri-solutions could broaden the revenue base and reduce cyclicality.

• The government has increased the LPG booking period from 21 days to 25 days to deter hoarding and black marketing, ANI reported citing government sources.
• It has asked refineries to boost LPG output and directed that domestic LPG supply be prioritised over commercial connections.
• The government is scouting for additional LPG partners, with countries such as Algeria, Australia, Canada and Norway approaching to sell LPG, the sources said.

• Saudi Arabia, the UAE and Bahrain have joined Iraq and Kuwait in curbing crude output as tanker traffic through the Strait of Hormuz nears a halt, according to a report by Argus Media.
• The report said the disruption has limited exports and tightened storage capacity for Middle East Gulf producers.
• Argus estimates about 6.2 million to 6.9 million barrels per day of regional supply is offline, based on February production levels.

• Kotak Mahindra Bank CEO Ashok Vasvani told Bloomberg News the bank is open to mergers and acquisitions to deploy excess capital.
• He said the bank has the capacity to do large deals.

• Japan’s fourth-quarter GDP grew 1.3% on an annualised basis.
• Bloomberg’s estimate was 1.0%.

• Hang Seng Index was up 1.40%, rising 356.13 points to 25,764.59.
• Shanghai was up 0.44%, gaining 17.84 points to 4,114.442.

• HSBC Global Research initiated coverage on Meesho with a Hold rating and a target price of Rs 160, citing limited upside from current levels.
• The brokerage said Meesho has a strong position in value e-commerce, but improving profitability could be difficult without slowing growth.
• HSBC estimates Meesho had about 251 million customers and 7.5 million sellers in FY26, and said the platform accounts for around 25% of India’s online commerce orders.

• Jefferies maintained a Hold rating on Dixon Technologies and kept its target price unchanged at Rs 11,350.
• The brokerage cited valuation and said DRAM prices and lower volumes, including in global smartphone shipments, may weigh on the stock.
• Dixon Tech has fallen over 40% in the past six months; Jefferies said the stock trades at about 47 times earnings even after the decline, and noted the recent approval to form a joint venture with HKC Overseas.

• OMCs: Crude sees its biggest intraday reversal; ONGC, Oil India and HOEC: crude falls more than 10% from highs.

• Aviation, fertiliser and paints: Donald Trump says the Iran war may be over soon; Astral, Supreme and Finolex Industries: PVC price increase.

• BEL and Bharat Dynamics: Indonesia agreement for BrahMos missile; IdeaForge: drone flight testing programme for NATO; Dixon Tech: government nod for JV with China’s HKC Overseas.

• Arvind SmartSpace: Adi Pirojsha Godrej acquired shares

• Responsive Industries and Paradeep Phosphates: promoter buying

• IDFC First Bank: Chandigarh Municipal Corporation flags Rs 116-crore security fraud

• Swan Defense: promoter to sell 5% stake via OFS

• Cipla: US arm to recall Lanreotide batches.

• Deputy foreign minister Kazem Gharib Abadi said Iran will only end the war if it receives guarantees it will not be attacked again.
• He said any ceasefire would take effect only when Tehran is confident the conflict will not be repeated.
• His comments followed US President Donald Trump’s claim that the 11‑day war could end “very soon.”

• US crude fell to $86.45 a barrel, down $8.32 or 8.78%, after Monday’s surge, while Brent traded at $89.89, up $0.89 or about 1% in early trade.
• Markets moved lower after US President Donald Trump said he was considering taking control of the Strait of Hormuz and said ships were still moving through the route, in comments to CBS News.
• Reuters reported Trump is also considering easing oil sanctions on Russia, and CNBC International reported G7 energy ministers will meet virtually on Tuesday to discuss a possible coordinated release from strategic reserves.

• S&P 500 rose 0.83% to 6,795.99.
• Dow Jones Industrial Average added 239.25 points, or 0.5%, to 47,740.80, after its biggest weekly slide in nearly a year.
• Nasdaq Composite climbed 1.38% to 22,695.95.

• South Korea’s Kospi opened more than 5% higher, leading gains in the region after oil prices fell and Wall Street bounced back.
• The small-cap Kosdaq added over 4%, while Australia’s S&P/ASX 200 rose 1.35% in early trade.
• Japan’s Nikkei 225 jumped 1.66% and the Topix gained 1.3%; Hong Kong’s Hang Seng index futures were at 25,370 versus the index’s last close of 25,408.46.

• Gift Nifty was at 24,363, indicating a positive start for Indian equities.
• The level compares with the Nifty 50 close of 24,028.05 on Monday.