Stock Market News Today Highlights: Nifty Sensex, Extend Rally For Second Consecutive Session, Crude Oil Prices Surge On Supply Route Concerns

• Eternal and Tata Steel were the top gainers in the index, each up more than 4.5%.

• Broader markets ended mixed.

  • Nifty SmallCap 250 gained over 0.5%, led by Chennai Petro and TARIL, both up more than 5.5%.
  • Nifty MidCap 150 rose over 1%, snapping a four‑day losing streak along with the SmallCap 250.
  • Lloyds Metal and National Aluminium were the top performers in MidCap 150, each rising more than 6%.

• All Nifty sectoral indices ended higher except FMCG and IT.

  • Nifty Metal was the best‑performing sector, gaining over 2.5% and rising for the second day. Lloyds Metal & Energy and National Aluminium topped the list with gains above 6%.
  • Nifty IT was the worst performer, down more than 1%, falling for the sixth straight session and hitting its lowest level since May 2023. Persistent and Wipro fell more than 2%.

• Nifty Auto, Bank, Financial Services and PSU Bank rose for the second consecutive day.

• Nifty Defence and Realty snapped a four‑day losing streak, while Nifty Energy, Oil & Gas and Pharma also reversed recent declines.

• Sensex rose 0.7%, gaining 550 points to close above 76,000.
• Nifty 50 advanced over 0.5% to finish near 23,600.
• Intraday, Sensex jumped as much as 801 points and Nifty climbed up to 1.1%.

• Brent crude gained 4% to $103.65 per barrel.
• West Texas Intermediate rose 4.2% to $97.08 per barrel.
• Prices increased as uncertainty persisted over a US‑led plan to safeguard shipping in the Strait of Hormuz.

• S&P 500 futures slipped 0.3%.
• Nasdaq 100 futures declined 0.4%.
• Dow Jones Industrial Average futures fell 117 points, or 0.3%.

• Long buildup: Eternal, Multi Commodity Exchange of India
• Short covering: Steel Authority of India (SAIL), National Aluminium Company
• Long unwinding: Union Bank of India, Inox Wind
• Short buildup: Hindustan Petroleum Corporation, Tata Elxsi

• The Petroleum Ministry said crude inventories are adequate and refineries are operating at full capacity.

• No dry‑out has been reported at fuel pumps, and states have been asked to permit gas pipeline laying.

• All new PNG connections must be cleared within 24 hours.

• LPG supply remains tight but without reported dry‑outs.

• About 94% of domestic LPG bookings are now made online, and Delivery Authenticity Code usage has risen to 76%.

• Several states, including Bihar, Delhi, Haryana, Rajasthan, Manipur, Gujarat, Himachal Pradesh, Karnataka and Uttarakhand, have issued orders for allocating non‑domestic LPG.

• Authorities have conducted 12,000 raids so far, seizing more than 15,000 cylinders.

• OMCs carried out 2,500 surprise inspections yesterday.

• The ministry said around 70,000 panic LPG bookings were made yesterday.

• Sensex jumped 1.1% to 76,304, reversing morning losses.
• Nifty 50 also gained 1.1%, rising to 23,656.

• Australia’s S&P/ASX 200 rose 0.36% to 8,614.3 after the central bank lifted the benchmark policy rate to 4.1% for a second straight meeting.
• Japan’s Nikkei 225 ended flat at 53,700.39, while the Topix gained 0.45% to 3,627.07.
• South Korea’s Kospi added 1.63% to 5,640.48, while the Kosdaq slipped 0.12% to 1,136.94.

• PFC approved raising Rs 1.1 lakh crore through bonds and loans in FY27, according to an exchange filing.
• The company cleared total borrowings of Rs 1.6 lakh crore for FY27.
• It also approved an interim dividend of Rs 3.25 per share.

• Morgan Stanley’s Ridham Desai said valuations and sentiment are at extreme levels, which historically signal turning points.

• The firm’s proprietary sentiment indicator is at new lows excluding the COVID period, while India’s relative valuations are near levels last seen during the global financial crisis.

• The brokerage said the market is pricing in significant negative news.

• What to buy: Industrials, consumer discretionary and financials.

• Morgan Stanley is equal‑weight on tech and expects a possible relief rally into the earnings season.

• Utilities and defensives such as consumer staples and healthcare may underperform after holding up during the recent decline.

• Canara Bank sanctioned a Rs 979 crore term loan and guarantee for KPI Green, according to an exchange filing.
• The loan and guarantee support a 150 MW wind project awarded by GUVNL, Gujarat Urja Vikas Nigam.
• KPI Green has a 25‑year agreement with GUVNL for the Rs 1,242 crore wind project.

• European stocks traded broadly higher even as crude rose past $100 per barrel on renewed supply concerns.
• The Stoxx 600 gained 0.75% after the open, with most major indices in the green, including the FTSE, CAC and IBEX 35.
• Declines were seen in Sweden’s OMX30 and Germany’s DAX.

• Vishal Mega Mart had 5.66 million shares traded in one block deal.
• Another block trade saw 5.15 million shares change hands, according to Bloomberg data.

• Flipkart has held informal discussions with banks on a potential initial public offering, according to a Bloomberg report.
• The IPO may take place in late 2026 or early 2027, the report said, citing sources.

• India produced 26.2 million tonnes of sugar as of 15 March, according to ISMA.
• Output was up 10.5% year‑on‑year, with 157 mills operating compared with 182 a year ago.

• Long buildup: Waaree Energies, Premier Energies
• Short covering: SAIL, NALCO
• Long unwinding: Bajaj Finserv, Union Bank of India
• Short buildup: Coforge, Wipro

• Flipkart has held informal discussions with banks on a potential initial public offering, according to a Bloomberg report.
• The IPO may take place in late 2026 or early 2027, the report said, citing sources.

• Nifty 50 hovered around 23,400 ahead of the weekly F&O expiry.
• Sensex traded about 50 points lower at 75,456.19 after moving between gains and losses.

The latest BofA Global Fund Manager Survey shows a clear shift toward caution, with cash levels rising even though there is still no sign of full equity capitulation. The March survey has turned notably bearish, driven by concerns related to Iran and mounting risks in private credit, which have ended the “frothy bull” sentiment seen in recent months.

Growth optimism has fallen sharply, and average cash levels have increased to 4.2 percent, reflecting a more defensive stance among global fund managers. The survey also highlights key tactical views: participants are bearish enough to sell oil above 100 dollars per barrel, sell the US dollar (DXY) above 100, buy long‑duration US Treasuries at 5 percent, and view the S&P 500 at 6600 as a reasonable buy level.

Despite the shift in tone, BofA notes that positioning indicators remain far from the extremely bearish levels normally observed at major market lows, which historically have offered strong entry points for equities and credit.

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Source: Statement

Puravankara received a letter of intent for an order worth Rs 280 crore from VIT, Vellore for construction of academic block.

Source: Exchange Filing

• Dinshaw Irani told NDTV Profit the fund has been deploying cash proactively.
• He said the conflict has come at a difficult time for India, though crude at $70–75 per barrel could offer some relief.
• He does not expect crude prices to return to earlier levels and said markets may see a structural move once the conflict ends.
• He said the fund believes the situation is in its “end game”.
• He is investing in NBFCs focused on two‑wheelers and commercial vehicles and sees domestic consumption as the key theme.

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• Technical charts indicate a reversal pattern.
• FII short positions eased to 88% from 90%.
• Risk‑off sentiment reduced as several tankers moved safely through the Strait of Hormuz.
• A potential release of emergency crude reserves also supported sentiment.

• Praj Industries rose as much as 8.3% to Rs 319.55, with trading volume at more than six times its 20‑day average, according to Bloomberg data.
• The founder chairman told NDTV Profit the company is ready with diesel blending and is awaiting policy measures to support the sector.
• He said CBG has potential for cooking gas and that ethanol for cooking is not new.
• He added that the CBG segment is not receiving enough attention and that the industry is waiting for policy clarity on aviation fuel.
• He urged the government to raise ethanol blending for petrol and called for a holistic approach rather than temporary measures.

• Sensex rose 0.5% to 75,865, reversing early losses.
• Nifty 50 gained 0.5% to 23,530.
• ICICI Bank and M&M led the advance in the benchmark indices.

• Adani Power rose as much as 2.2% to Rs 157.50.
• The stock advanced for a second straight trading session.
• Trading volumes were more than twice the 20‑day average, according to Bloomberg data.

• IDBI Bank fell up to 1.3% to Rs 75.93.
• The stock had dropped more than 12% on Monday after NDTV Profit reported last week that the government had withdrawn its disinvestment plans.

• Dixon Technologies and Kaynes Technology have underperformed in recent months, raising concerns about the EMS sector’s momentum.
• JPMorgan said the trend reflects a shift from finished‑goods assembly to higher‑value component and PCB manufacturing.
• The brokerage upgraded companies such as Amber Enterprises and Cyient DLM, citing their positioning in this transition.

Read the full story here.

• Tata Motors’ stock rose nearly 2% to Rs 445 in early trade.
• The company will raise prices of commercial vehicles by 1.5% from 1 April, covering the full range and varying by model and variant.
• Tata Motors said the move aims to offset higher commodity and input costs.

Read more here

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• Sensex fell 0.2% to 75,358 after fluctuating at the open.
• Nifty 50 declined 0.4% to 23,360 in early trade.

• About 3.5 crore shares of Urban Company shares changed hands in two block deals.
• The trades accounted for around 2.4% of the company’s equity, based on Bloomberg data.
• Buyers and sellers were not immediately known.

Kalpataru Projects secured three new orders with a total value of Rs 2,471 crore, according to an exchange filing.

• Nifty crossed 23,500 in the pre-open session.
• Sensex advanced more than 600 points before the market open.

The rupee fell by 3 paise, or 0.04%, against the US dollar at the start of trade.

• India’s gems and jewellery exporters warned of a possible $2 billion loss if the West Asia conflict continues for three months.
• Industry representatives said disruptions at key trading hubs and higher logistics costs are affecting shipments.
• The GJEPC said India may divert about USD 800 million of exports, but the sector could still face a $1.2 billion hit.

Read the full story here.

• Asia spot gas traded at $19.3 per mmBtu.
• Prices increased about 90% over the past month.
• Gas stocks may see interest as regional prices climb.

• Singapore GRMs stood at negative $9.4 per barrel, the lowest level in at least 10 years.
• OMCs, Reliance Industries, MRPL and Chennai Petroleum may see interest as margins decline.

The Singapore GRMs represent what refiners make from processing each barrel of crude into diesel, gasoline, and other products. Since Singapore is a major refining center, these margins act as a benchmark for the global refining industry.

• Brent crude gained 2.45% to $102.57 per barrel.
• West Texas Intermediate rose 2.51% to $95.85 per barrel.
• Prices increased as uncertainty persisted over a US-led plan to secure shipping in the Strait of Hormuz.

• Australia’s S&P/ASX 200 rose 0.27% as the central bank is expected to lift rates again to 4.1%.
• Japan’s Nikkei 225 gained 0.75%, while the Topix advanced more than 1%.
• South Korea’s Kospi increased 2.94%, and the Kosdaq added 1.53%.
• Hong Kong’s Hang Seng index rose 0.94%, and China’s CSI 300 added 0.28%.

• Gift Nifty stood at 23,453.50 in early trade.
• The level was higher than Nifty 50’s Monday close of above 23,408.80.