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The GIFT Nifty futures slipped 115.50 points, or 0.51%, to 22,403.00 at 6:35 a.m. on Tuesday, signalling a weaker start for Indian equities.
Asian shares tumbled at the opening bell on Wednesday as the White House's decision to proceed with substantial tariffs on trade partners, especially a 104% levy on China, soured investor risk appetite. Japan's Nikkei 225 fell 3.12% to 31,981.97, while South Korea's KOSPI also saw a marginal decline of 0.66% to 2,318.73.
This negative sentiment followed another volatile day on Wall Street. The S&P 500 closed 1.6% lower, bringing it extremely close to bear market territory. The Nasdaq Composite and the Dow Jones Industrial Average also finished down by 2.15% and 0.84%, respectively.
India's benchmark equity indices snapped their three-day losing streak and ended with gains on Tuesday. The NSE Nifty 50 ended 374.25 points or 1.69% higher at 22,535.85, while the BSE Sensex closed 1,089.18 points or 1.49% higher at 74,227.
Foreign portfolio investors continued selling stocks for the seventh straight session, net offloading Rs 4,994.2 crore worth of shares, according to the provisional data from the NSE. Domestic institutional investors remained net buyers for the second day as they mopped up equities worth Rs 3,097.2 crore.
Stocks To Watch
Shyam Metalics and Energy: The company reported a 13% year-on-year growth in stainless steel sales for the month of March, reaching 6,619 tonnes. For financial year 2025, stainless steel sales registered a robust 66% uptick compared to last year, totalling 84,404 metric tonnes.
Senco Gold: The company reported in its fourth-quarter business update a retail growth of 23% year-on-year and 18.4% growth in same-store sales growth.
IRB Infrastructure Developers: The company reported 25% year-on-year growth in gross toll revenue. For the financial year 2025, the gross toll revenue grew about 40% when compared to the previous year.
Vodafone Idea: The board approved the allotment of 3,695 crore shares worth Rs 36,950 crore to the government. The government stake in the company currently stands at 48.99% post allotment.
Signatureglobal (India): The company achieved pre-sales of Rs 1,620 crore for the fourth quarter of the financial year 2025, showing a growth of 42% compared to last year, surpassing the financial year 2025 guidance.
Zee Media: The company announced that it will raise $46.59 million, which is about Rs 399.78 crore via foreign currency convertible bonds.
Phoenix Mills: The company, in its fourth-quarter business update, reported a growth of 15% at Rs 3,262 crore. For the financial year 2025, the retail sales grew by 21% to stand at Rs 13,762 crore.
NTPC Green Energy: The company incorporated NTPC-Mahapreit Green Energy as a 74:26 joint venture of the company. This has been done along with the inclusion of Mahatma Phule Renewable Energy and Infrastructure Technology.
Home First Finance Co: The company has announced its opening of a QIP issue. The company has also set the floor price of the QIP at Rs 1,019 per share.
Concord Biotech: The company received approval from the US FDA for marketing 7 mg and 14 mg Teriflunomide Tablets. Teriflunomide Tablets are used for treating patients with relapsing forms of multiple sclerosis.
Bharat Petroleum Corp: The company and Sembcorp have entered a joint venture agreement to explore renewable energy and green hydrogen projects across India. The JV will also consider projects in green ammonia production and bunkering.
Ashoka Buildcon: The company to sell 51% stake in the arm Prakashmaan Renewable Energy to Sunbreeze Renewables.
Sasken Technologies: The company's unit Sasken Design Solutions acquired BORQS International for up to $40 million.
Hindustan Aeronautics: The Defence Ministry approved the appointment of DK Sunil as chairperson and MD, effective April 9.
Route Mobile: Proximus Global launched 365guard, an AI-powered SMS spam and fraud protection solution.
Lemon Tree Hotels: The company signed an agreement for a 63-room hotel in Siliguri, West Bengal.
Indian Bank: Saptagiri Grameena Bank, sponsored by the bank will be amalgamated into Andhra Pradesh Grameena Bank with effect from 1.
Bulk Deals
Sonata Software: Tata Mutual Fund sold 15 lakh shares (0.53%) at Rs 304.08 apiece.
Trading Tweaks
Price band changes from 5% to 2%: Nagarjuna Fertilizers and Chemicals.
Price band changes from 20% to 10%: Keynote Financial Services.
List of securities shortlisted in short-term ASM Framework Stage 1: Focus Lighting and Fixtures.
List of securities to be excluded from ASM Framework: Websol Energy System.
F&O Cues
Nifty April Futures up by 1.72% to 22,630 at a premium of 95 points.
Nifty April futures open interest down by 3.2%.
Nifty Options April 9 Expiry: Maximum call open interest at 25,450 and maximum Put open interest at 20,400.
Put-Call ratio at 1.03, with highest change in Put open interest at 20,400.
Securities in ban period: Birlasoft, Hindustan Copper, Manappuram Finance.
Currency Market
The rupee closed weaker against the US dollar, extending its losses from the previous session. Investors are expected to remain cautious ahead of the Reserve Bank of India's policy decision and they will continue to assess the impact of US tariffs.
The domestic currency weakened 41 paise to close at 86.25 per dollar after opening at 85.88. During the session, the rupee briefly crossed the 86 mark to touch an intraday low of 86.08.
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