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India's benchmark equity indices ended sharply higher after volatile swings on Monday. The Nifty 50 and BSE Sensex reversed early losses to end more than 1% higher as strength in HDFC Bank and Axis Bank offset decline in Reliance Industries.
The Sensex closed 787 points or 1.07% higher at 74,106.85 and the Nifty gained 255 points or 1.12% to settle at 22,968.25.
The gap between the Nifty's session low and high was 456 points, indicating high volatility.
On the sectoral front, oil and gas stocks declined the most on the NSE, while financial services, realty and PSU banks surged the most.
In the broader market, the Nifty Smallcap 250 matched gains of the blue-chip index while Nifty Midcap 150 outperformed.
The rupee ended 5 paise higher at 93.06 against the dollar.
US President Donald Trump extended a deadline for Iran to reopen the strategic Strait of Hormuz to Wednesday 6:30 am India time. A media report said US and Iranian officials, along with several regional mediators, are negotiating the terms of a possible 45‑day ceasefire that could pave the way for a permanent end to the war.
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US stock futures indicate a higher open for Wall Street later today. Signaling progress in the peace talks, Axios reported that US and Iran were engaged in discussions mediated by some Gulf states for a potential 45-day ceasefire that could end the conflict ahead of the Tuesday deadline set by Trump.
The rupee ended 5 paise higher at 93.06 against the dollar, according to Bloomberg data.
Intraday, the INR strengthened as much as 32 paise.
India's benchmark equity indices ended sharply higher after volatile swings on Monday. The Nifty 50 and BSE Sensex reversed early losses to end 1% higher amid a rally in banks.
The Sensex closed 787 points or 1.07% higher at 74,106.85 and the Nifty gained 255 points or 1.12% to settle at 22,968.25.
Over 3,000 stocks on the BSE closed in green, compared to 1,126 in red. Broader market indices also ended significantly higher.
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Anand Rathi Wealth board will meet on April 9 to consider bonus shares. The company 1:1 bonus in March last year.
Marine Electricals (India) has received orders totaling Rs 115 crore (excluding taxes) from Larsen & Toubro. The orders pertain to the supply Installation Testing and Commissioning of LT boards and Branch panels for Tata Semiconductor Manufacturing Private Limited - Semiconductor manufacturing facility at Dholera. The delivery of these goods is scheduled to be completed over a period of 18 months.
The company has received a letter of intent from Adani Power for design, engineering, manufacturing, inspection & testing at manufacturer's works, packing & forwarding, transit Insurance, transportation and supply of Various sizes of Power & Control Cables at Raipur Ph-II Thermal Power Projects, Chhattisgarh worth Rs 43 crore.
Bank of America said that commodity prices are expected to remain elevated in the near term. According to the brokerage, a meaningful ramp-up in production can happen only after the Strait of Hormuz is reopened. It added that energy prices may stay high through FY27. However, if the war ends soon, commodity prices could start normalising in the second half of FY27.
BofA believes that corporate earnings have likely "marked a bottom". That said, the impact of the war on inflation and economic growth is expected to weigh on Q4. The revival in oil and energy infrastructure investments could take several years. The brokerage also warned that valuation multiples may contract further if the war continues for a prolonged period.
International benchmark Brent crude fell 0.9% at $108.12 per barrel as reports said the US and Iran are engaged in negotiation for a ceasefire.
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PNGS Reva Q4 Business Update
Shares of Reliance Industries Ltd (RIL) hit a 10-month low of Rs 1,301.40 on Monday, April 6, dropping over 4% intraday on the NSE, pulling the Nifty 50 benchmark down by 78 points in the session.
The oil-to-telecom conglomerate's market capitalisation also slipped below the Rs 18 lakh crore-mark, hitting its lowest level since April 2025.
ALSO READ: RIL Tumbles To 10-Month Low, Erodes Rs 2.4 Lakh Crore As Selloff Deepens
SEBI Chairman Tuhin Kanta Pandey says
Shares of Adani Enterprises traded higher after the Supreme Court refused to stay the company's resolution plan for Jaiprakash Associates. Vedanta had moved the top court against Adani's IBC plan for the insolvent group that was cleared by the National Company Law Tribunal.
The matter listed for final hearing before NCLAT on April 10.
Multinational brokerage Goldman Sachs has raised the share price target for TVS Motor Co. as it expects the company to see relatively limited impact on volumes from metal and crude oil inflation. Analysts upgraded the stock to 'Buy' from 'Neutral' rating and revised the 12-month price target to Rs 4,100 from Rs 3,830. The new target implies an upside potential of 21% over the previous close on the NSE.
The brokerage cited the company's strong pricing power and its relatively better cushion against raw material inflation. Commodity prices have surged since the outbreak of the Iran war.
The government may decide to initiate a fresh bidding process for the privatisation of IDBI Bank, as the bids received so far are understood to be significantly below its expected valuation, according to sources familiar with the matter.
A high-level meeting chaired by the Cabinet Secretary is currently underway to take a final call on the future course of action regarding IDBI Bank. This marks the second meeting in a week involving senior officials from the Department of Investment and Public Asset Management (DIPAM), the Department of Financial Services (DFS), and other concerned departments.
March 2026 delivered a fitting finale to a strong second half for India’s auto retail sector, with sales touching a record 26.9 lakh units, up 25.3% year-on-year, FADA data showed. The growth was broad-based and driven by genuine retail demand, led by two-wheelers, passenger vehicles and commercial vehicles.
Rural markets once again outperformed urban centres, highlighting the widening demand base. Speaking to NDTV Profit, C S Vigneshwar, President, FADA, said the March performance was not a one-off festive spike but reflected a structural upshift triggered after GST 2.0, validating the industry’s recovery momentum heading into FY27.
Shares of Reliance Industries declined as much as 4.1% to its lowest level since April 2025, dragging the benchmark Nifty and Sensex. The shares are down for a second session.
UCO Bank’s total business stood at Rs 5.89 lakh crore as of March 31, 2026, registering a year-on-year growth of 14.6%. Total advances increased by 19% year on year to Rs 2.62 lakh crore. Total deposits grew by 11.2% year on year to Rs 3.27 lakh crore. The CASA ratio was reported at 38.48%, compared with 38.41% in the previous quarter.
Indian information technology companies sitting on large piles of cash could be among the biggest beneficiaries if market regulator SEBI brings back open market share buybacks through stock exchanges, a practice banned since April 2025.
The Securities and Exchange Board of India issued a consultation paper last week and is seeking public comments on the proposal until April 23. The review follows recent tax changes under which buyback proceeds are now taxed like normal share sales, removing the earlier tax advantage that made buybacks inequitable.
Major IT firms such as Tata Consultancy Services Ltd., Infosys Ltd. and Wipro Ltd. have collectively carried out over 15 buybacks since fiscal 2016 and together hold more than Rs 1 lakh crore in cash as of December 2025, making smaller and more frequent buybacks more feasible without going through a large tender process.
FSN E-Commerce Ventures, the parent of Nykaa, is in discussions to acquire a majority stake in actor Deepika Padukone's skincare brand 82°E, as the beauty retailer looks to deepen its "House of Nykaa" portfolio and scale newer labels. The potential deal, still under negotiation, comes as 82°E faces growth challenges in an increasingly crowded direct-to-consumer (D2C) beauty market. While financial details remain undisclosed, the move signals Nykaa's continued push to back and build premium beauty brands under its ecosystem.
For Nykaa, the potential acquisition fits squarely into its strategy of scaling brands through its distribution muscle and large consumer base-estimated at over 42 million beauty customers. The company has successfully executed similar playbooks before. Skincare brand Dot & Key has seen a sharp scale-up under Nykaa, while Kay Beauty, its joint venture with Katrina Kaif, reported 50% revenue growth to Rs 132.4 crore in FY25.
Morgan Stanley has upgraded Avenue Supermarts, the operator of DMart, to Overweight from Equal-weight, signalling growing confidence in the retailer's growth outlook and resilience amid a challenging consumption environment. The brokerage has also raised its target price to Rs 5,188 from Rs 4,552, implying an upside of nearly 14%.
The upgrade comes after DMart delivered a robust 19% year-on-year revenue growth in the March quarter, underlining the company's ability to sustain strong topline momentum despite broader volatility in discretionary spending. Morgan Stanley said the performance reinforced its view that DMart remains well positioned to outperform peers, supported by scale, efficient cost control and a value-led proposition that continues to draw footfalls.
The Strait of Hormuz is described in absolutes. It is either on the brink of closure or safely open for business. A recent field investigation by Citrini Research suggests that this binary thinking misses what is actually happening in the narrow channel through which roughly a fifth of the world's oil normally flows.
On the water, conflict and commerce are unfolding at the same time. Citrini Research notes that while the United States maintains a military posture aimed at deterring Iranian escalation, many of its allies are pursuing a quieter course. Countries including Japan, France and Greece are negotiating directly or indirectly with Tehran to keep their tankers moving. The result is not paralysis, but a controlled and selective flow of traffic.
Pralay Mondal, Managing Director and CEO of CSB Bank, told NDTV Profit that the cautious approach adopted in the last quarter has paid off. The bank continues to maintain its net interest margin (NIM) guidance at 3.4–3.5%. According to him, the RBI may remain in a “wait and watch” mode amid the prevailing crisis.
He stated that CSB Bank’s gold loan portfolio remains safe even if gold prices decline, as the bank has been taking significantly lower risk in this segment. While wholesale growth improved in the fourth quarter, the bank deliberately stepped back from the SME and retail segments during Q4.
Mondal said the bank outpaced overall market growth significantly in Q4 and remained consistent in its growth performance during Q4 FY26. He added that there were no major concerns from an NRI perspective. Looking ahead, the bank expects a pickup in SME and retail segments in FY27 and plans to gradually launch new systems and products.
Shares of RBL Bank Ltd. are trading with gains on Monday after the lender posted strong operational numbers for FY26 while also reportedly receiving a crucial Reserve Bank of India nod for the Emirates NBD deal.
Shares of Wipro surged as much as 3.2% during early trade after it announced the acquisition of Singapore-based IT services company Mindsprint for a total consideration of around $375 million.
The deal is part of a broader agreement signed with Olam Group — an eight-year deal with a final contract value that could exceed $1 billion, the company said in a regulatory filing.
Olam, which is also headquartered in Singapore, is a leading food and agri business with a market value of over $50 billion. The company is majority owned by Temasek Holding.
Jefferies has initiated coverage on India's railway stock space with a constructive outlook, driven by a sustained upcycle in railway capital expenditure. The brokerage expects 10% CAGR in rolling stock capex between FY26 and FY30, led by strong investments in passenger and metro coaches.
Within this, passenger and metro segments are projected to grow at 9-16% CAGR, supported by government-led modernisation, safety upgrades, and expansion of high-speed and urban transit networks. In contrast, wagon demand is expected to remain relatively modest at 5% CAGR, reflecting a more measured cargo growth trajectory.
With global markets reeling from the ongoing conflict in the Middle East, India is no exception. In fact, the worst is yet to come for the Indian economy, with BofA now sounding an alarm and warning that rising stagflation fears and the widening conflict could lead to a zero percent earnings growth, in the worst-case scenario.
In a sobering India Strategy report, BofA has cautioned that if the ongoing Iran War continues, it could trigger a sharp slowdown in both demand and investments. The brokerage firm has drawn a worst-case projection, in which Indian GDP growth could crater towards 3%, whereas Nifty earnings growth could drop to 0% by FY27.
MCX gold June futures contract dipped 0.91% to Rs 1,48,309 per 10 grams, while the MCX silver May futures were down 1.18% to Rs 2,29,750 per kg.
Bank stocks declined during early trade. The Nifty Bank index fell as much as 0.9%.
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India's benchmark equity indices opened lower on Monday. The Nifty and Sensex fell after market open, dragged by ICICI Bank, Reliance Industries and Bajaj Finance.
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India's automobile retail industry closed FY26 on a historic high, inching closer to the 3-crore milestone as a record-breaking March provided a strong finish to a landmark year. According to data released by the Federation of Automobile Dealers Associations (FADA), total vehicle retail sales during the financial year stood at 29.67 million units, marking a 13.3% year-on-year growth and the highest annual volume ever recorded.
The Indian rupee opened 4 paise stronger at 93.06 against the dollar.
HDFC Asset Management Co. shares are likely to deliver better returns than rival ICICI Prudential Asset Management Co., according to Kotak Institutional Equities.
Analysts said AMCs are grappling with sharply weaker trailing returns despite resilient retail active equity inflows, alongside a relatively benign medium-term regulatory environment. At the same time, the sector faces rising investment needs in new growth avenues such as alternatives, offshore products and distribution capabilities.
Larger players, backed by strong fund performance, appear better positioned to capture a higher share of flows. While sector valuations have corrected, they continue to trade at a premium to broader markets.
Aurobindo Pharma Ltd. board on Monday approved a share buyback plan worth up to Rs 800 crore. The company will repurchase 54,23,728 fully paid-up equity shares, representing up to 0.93% stake, at a price of Rs 1,475 per share. The offer price is a premium of 11.6% over Thursday's close of Rs 1,333.70 on the NSE.
The board has set April 17 as the record date for the purpose of determining the entitlement and the names of equity shareholders who would be eligible to participate in the buyback.
The Reserve Bank of India's Monetary Policy Committee will begin its three-day meeting in Mumbai today, the first in the new financial year and against the backdrop of war in the Middle East and disruption in oil supply routes.
The RBI is widely expected to keep its policy repo rate unchanged at 5.25% when it announces its monetary policy decision on April 8, as policymakers weigh rising external risks, a gradual firming in inflation and signs of moderation in economic activity.
All 15 economists tracked by Bloomberg anticipate no change in the benchmark rate, pointing to a broad consensus that the Monetary Policy Committee will extend its pause while assessing evolving global and domestic conditions.
Wipro today announced the acquisition of Singapore-based IT services company called Mindsprint for a total consideration of around $375 million.
The deal is part of a broader agreement signed with Olam Group — an eight-year deal with a final contract value that could exceed $1 billion, the company said in a regulatory filing.
Olam, which is also headquartered in Singapore, is a leading food and agri business with a market value of over $50 billion. The company is majority owned by Temasek Holding.
Global oil prices climbed sharply after Donald Trump escalated rhetoric against Iran, issuing a new deadline tied to the reopening of the strategically critical Strait of Hormuz. Brent crude rose above $110 per barrel, while US benchmark WTI hovered near $113, as markets reacted to the heightened risk of supply disruptions.
Trump warned of potential strikes targeting Iranian infrastructure if access through the strait is not restored. Tehran, however, rejected the ultimatum, and restrictions on maritime traffic remain largely in place, allowing only limited vessel movement.
Stock futures on Wall Street tumbled overnight as investors continued to eye developments in the US-Iran war and oil prices.
Dow Jones Industrial Average futures shed 253 points, or 0.5%. S&P 500 and Nasdaq 100 futures lost 0.6% and 0.7%, respectively.
Japan and South Korean stocks rose Monday, while most Asian markets were closed for holidays. The Nikkei 225 jumped 0.62%, and the broad-based Topix gained 0.23%. South Korea's blue-chip Kospi advanced 1.8%.
Markets in Australia, New Zealand, Hong Kong, mainland China and Taiwan are shut due to public holidays.
The GIFT Nifty was up 50 points or 0.2% at 22,650 as of 7:00 a.m., lower than the Nifty 50's Thursday close.
Indian equity benchmarks logged their sixth consecutive weekly losses in a holiday-shortened week amid intensified military conflict in the Persian Gulf region.
The BSE Sensex closed 0.3% higher at 73,319 after declining as much as 2.2% intraday. The Nifty rose 0.15% to settle 22,713. Markets were shut on Friday for a holiday.
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