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India's benchmark equity indices closed lower for a second consecutive session on Thursday, tracking bearish sentiments across the world. Auto, FMCG and consumption were the top sectoral losers on the NSE.
The rupee hit an all-time low amid a surge in oil prices, raising worries over India's current account.
US equity futures as well as Asian and European stocks declined, extending a volatile week, as oil prices rallied after an attack on two tankers in Iraqi waters underscored the threat to energy assets in the Middle East. Brent crude climbed back to $100 a barrel.
Here's all that happened:
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According to Shrikant Chouhan, head equity research at Kotak Securities, after a gap-down open, the market trimmed some losses but again corrected sharply due to profit booking at higher levels. On intraday charts, the market is forming a lower top, which suggests that the correction wave is likely to continue in the near future.
All three US index futures are trading lower as traders as oil prices continued to climb and there were no signs of an imminent end to the war with Iran.
The rupee ended 16 paise lower at 92.20 against the dollar. The local currency hit a new low during the session. Most Asian peers also fell against the greenback. The dollar index rose 0.1%, rising for the third straight session as oil prices resumed their rally, heightening inflationary risks and reducing the likelihood of Federal Reserve interest rate cuts.
India's benchmark equity indices closed lower for a second consecutive session on Thursday, tracking bearish sentiments across the world. The Nifty 50 ended 227 points or 0.95% lower at 23,639.15. The BSE Sensex shed 1.08% to close at 76,034.42 on weekly expiry day. Intraday, both benchmarks dropped 1.3%.
Auto and FMCG were the top sectoral losers on the NSE.
ICICI Bank and Larsen & Toubro were the top drags on the Nifty in terms of points contribution. Mahindra & Mahindra and Eicher Motors were the top losers.
The broader market outperformed the blue-chip indices, with the Nifty Midcap 150 and Nifty Smallcap 250 falling 0.2% and 0.4%, respectively.
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Shares of TTK Prestige Ltd. have surged sharply over the past few trading sessions as concerns around LPG supply disruptions push consumers and small businesses toward electric cooking appliances such as induction cooktops. The stock has climbed over 20% in the last five sessions, emerging as the biggest gainer among kitchen appliance makers as investors bet on a near-term boost in demand for induction cooking devices.
Hindalco Industries' arm Novelis entered into material pact for bonds worth $225 million to fund Alabama Waste disposal facility.
Source: Exchange filing
The International Energy Agency, in its March monthly oil report, has lowered its forecast for global oil demand growth in 2026 to 640,000 barrels per day (bpd), down from its earlier estimate of 850,000 bpd. The agency said the ongoing conflict in West Asia has triggered the largest supply disruption in history, with global oil supply expected to plunge by 8 million bpd in March as a result.
HCLTech announced the expansion of its strategic collaboration with Google Cloud to help accelerate enterprise adoption of Agentic AI. HCLTech will use Gemini Enterprise and Gemini models to build custom AI agents for global clients, while strengthening collaboration and security through Google Workspace, supporting their scalable, AI-driven transformation.
Source: Statement
The BSE Sensex could be volatile heading into the final hour of trading as weekly F&O contracts expire. The index fell 1.3% intraday, but has managed to pare some loses.
European stocks edged lower at the start of trading on Thursday, as oil prices once again briefly jumped above $100 a barrel amid ongoing shipping disruptions caused by the Iran war. The pan-European Stoxx 600 dipped 0.4%, the Dax in Germany fell 0.4%, the CAC 40 in France declined 0.6%, and the FTSE 100 in London shed 0.5%.
The yield on the 10-year G-Sec rose to around 6.67%, reversing from the previous session, as a sharp jump in oil prices and higher US yields spurred selling. Brent crude topped $100 per barrel after Iran sank two Iraqi oil tankers, intensifying concerns about imported inflation and rupee depreciation in India, which relies heavily on energy imports. The 10-year US yield also neared 4.25%, adding external pressure on domestic long-term rates and prompting cautious trading among investors.
Vinay Jaising, CIO and Head - Equity Advisory at ASK Private Wealth, told NDTV Profit that the Indian market was already under pressure due to domestic factors. He noted that markets in Japan and South Korea have performed better than India. He also pointed out that while the United States market declined by only about 2%, the Indian market fell by around 7–8% last week.
According to him, liquidity parameters will be a key factor to watch in the market going forward. Given the current environment, he said investors are taking much safer bets than before. He added that most of the pain from the conflict is already priced into the market.
Global brokerage Macquarie has reiterated its positive stance on the Oil & Natural Gas Corp. stock but reduced the target price marginally. The 12-month price target has been cut to Rs 300 from Rs 310 with a 'Outperform' rating. The new target implies a return potential of 14% over the previous close.
Analysts said the current oil price volatility is actually favourable for the company. Sustained production growth will be crucial for ONGC's re‑rating after a year of stability with the phase of de‑growth coming to an end.
Leading blue-chip auto stocks dropped over 3 % amid concerns of LPG shortage due to the ongoing Middle-East conflict. The Nifty Auto index fell as much as 2.51% at 25,275.45 levels. All Nifty auto stocks were in red at 10:53 am on Thursday. Stocks such as TVS Motor and Ashok Leyland led the fall in Nifty Auto, both down over 3.5% today. Benchmark Nifty 50 index last slipped 310 points to hit below the 23,600 mark.
Key Asian equity benchmarks have ended lower.
The government will be release the Consumer Price Index-based retail inflation data for February at 4 pm today. This will be the second time that the data is under the new series and methodology.
The Bloomberg estimate for February CPI is 3.14%. In January, inflation was 2.75%.
CIL along with SIML, has emerged as the L1 bidder for four projects in the financial bid openings aggregating to a total bid cost of Rs 2,149.62 crore.
Precision Wires India said the intensifying conflict in the Middle East has begun to impact some of the domestic and overseas suppliers. "Consequently, we are observing rising inflationary pressures across our supply chain. Our export consignments to the Middle East have also been affected. To address this, we are currently re-routing shipments and establishing alternate logistics arrangements. Please be advised that these changes may result in additional shipping costs and extended lead times. While Company is diligently taking steps to monitor and mitigate these challenges, unforeseen risks and unavoidable circumstances may cause short-term fluctuations in the cost and availability of certain inputs," a statement said.
Raymond Realty, the real estate arm of Raymond, has launched Ten X District 9 in Thane, a landmark 9 Acres acre residential development designed for the next generation of urban homeowners. With an estimated revenue potential of Rs 2,000 crore, the project integrates high-end residences, surrounded with green ecosystems, and a vibrant retail boulevard in the heart of the Mumbai Metropolitan Region (MMR).
Source: Statement
Its noon and bears are still in charge on Dalal Street. The Nifty and Sensex (weekly expiry today) are off their session's lows, but still set for a second straight day of decline. Broader markets are not doing any better.
Over 2,300 stocks on the BSE were in red, while about 1,500 were higher.
Auto, FMCG and consumer stocks are the worst sectoral players on the NSE.
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Gopal Snacks is already using Bio coal at its Modasa and Nagpur Facilities and its manufacturing facilities are running smoothly and will be able to serve its customers demand without any interruption. The Modasa and Nagpur plants, both crucial to the company's manufacturing operations, are running normally and are well-equipped to meet the current and future production demands, ensuring that there will be no delays in product deliveries to customers.
Source: Statement
PowerHive, the battery and energy storage arm of Vikram Solar Limited, announced the launch of its flagship brand VION, marking the company’s entry into distributed battery storage for electric mobility and residential energy backup. VION is a next-generation lithium battery storage brand delivering reliable, high-performance solutions for everyday power needs.
Source: Statement
Central Bank of India has entered into a distribution agreement with HDFC Asset Management Company Ltd. to offer mutual fund products to its customers, according to an exchange filing.
Under the arrangement, the bank will distribute mutual fund schemes managed by HDFC AMC, enabling its customers to access a range of investment options through the bank’s network.
The partnership is aimed at helping customers unlock the value of their savings by investing in mutual fund products offered by HDFC AMC.
Allianz SE has sold a 3% stake each in Bajaj General Insurance and Bajaj Life Insurance, according to an exchange filing by Bajaj Holdings.
Following the transaction, Allianz SE’s holding in both insurance companies has been reduced to 18.1%.
Aarti Industries has entered into a multi-year supply agreement with a top global agrochemical innovator for the supply of a critical agrochemical intermediate used in crop protection formulations. This agreement elevates the current annual engagement to a structured supply contract through 31st March 2030, with a significant increase in volumes. The agreement is expected to generate revenue of approximately $150 million over the contract period, providing AIL with enhanced revenue visibility in the medium to long term.
Here are three reasons why markets are falling in trade today.
The Indian rupee hit a new record low of 92.364 against the dollar, after declining 0.4%.
Anil Gupta, Chairman and Managing Director of KEI Industries, told NDTV Profit that aluminium prices have risen sharply due to the ongoing crisis. He said the company has not suffered any loss so far, only a deferment of sales.
He noted that KEI has diversified its polymer sourcing beyond China to include Korea as well. Gupta added that supplies to the Middle East have been affected, and the company is seeing a 20–25% cut in gas supply.
According to him, there are no issues with copper availability, though dealers are cautious about stocking because of high copper prices. Despite these challenges, he said the company does not expect demand for cables to soften.
Rana Gupta of Manulife Investment told NDTV Profit that well‑capitalised banks and NBFCs are likely to perform strongly. He said consumer companies could face a challenging phase now, even though they have done well since the rollout of GST 2.0.
Gupta noted that overall commodity prices are expected to stay elevated. He added that investments in AI technology are rising significantly.
He also pointed out that Indian aluminium companies have strengthened their position by integrating backward through coal assets. According to him, a short‑term spike in crude oil prices to around $100 per barrel is manageable, but India remains in a difficult position because of the oil shock.
Gold and silver rates in India fell slightly on Thursday driven primarily by geopolitical developments as US The ongoing Us-Israel-Iran escalation continues to act as a tailwind for traditional safe-haven assets like gold and silver, analysts told PTI. However, the turmoil still persists due to volatility in the market with inflation fears due to increasing crude oil prices which is impacting investor sentiment.
The gold rate in India on Thursday is Rs 1,62,610 per 10 gms while the silver rate in India is Rs 2,69,570 per 1 kg, according the Bullions website.
In the international markets, spot gold was down 0.3% at $5,174.60 an ounce as of 3:24 p.m. in New York. Silver fell 3.1% to $85.5827 an ounce.
Rising energy prices triggered by escalating geopolitical tensions could create margin pressures across India's consumer and lifestyle sector, according to brokerage Macquarie, which says companies with stronger brands and premium positioning are better placed to navigate the cost shock. The brokerage has reiterated Outperform ratings on Titan, Marico, Trent, Godrej Consumer Products and Lenskart, while maintaining a more cautious stance on several other consumer names.
Shares of Zomato-parent Eternal and Swiggy fell over 4% during early trade amid reports hotels and restaurants across the country have limited their menu offerings due to LPG shortage.
India's benchmark equity indices opened sharply lower today, weighed by global equity selloff and jump in oil prices. The Nifty slipped nearly 300 points to below 23,600. The BSE Sensex tanked nearly 1,000 points to below 76,000 for the first time since April 11.
Auto, media and PSU banks were the top sectoral losers on the NSE.
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Enviro Infra Engineers received a Letter of Acceptance for Aurangabad Sewerage Network and STP Scheme under AMRUT 2.0 from Bihar Urban Infrastructure Development Corp. The contract is worth Rs 411 crore.
The Nifty 50 is down over 200 points in pre-open, below 23,700.
The Indian rupee weakened nearly 30 paise to hover near record lows. It opened at 92.27 to the dollar and went to as low as 92.32. The dollar index was up 0.2%.
The local currency's all time low level is 92.36, hit on March 9.
Source: Bloomberg
ACME Solar has signed three Power Purchase Agreements with SJVN for a tenor of 25 years. The PPAs are for 450 MW/1,800 MWh capacity project.
Stung by the US Supreme Court ruling that invalidated most of the reciprocal tariffs, the Trump administration on Thursday initiated a formal probe into India and 15 other major trade partners for alleged unfair practices.
The United States Trade Representative has initiated investigations under Section 301 of the Trade Act of 1974 regarding the acts, policies, and practices of certain economies relating to structural excess capacity and production in certain manufacturing sectors, according to a notification.
The USTR said it has evidence of "structural excess capacity and production" in India, while highlighting the $58 billion bilateral trade surplus it had with the world's largest economy last year. The agency noted India's global goods trade surplus sectors include textiles, health, construction goods, and automotive goods.
Crude oil prices surged more than 10% with Brent crude hitting $100 per barrel just minutes ago, as markets remain unconvinced that release of government stockpiles could offset the massive supply shock triggered by the war in the Middle East.
The US benchmark West Texas Intermediate jumped to $95 per barrel even after the International Energy Agency announced its largest emergency release of crude reserves in history.
Asia-Pacific markets are down as investors grappled with volatile oil prices and escalating tensions in the Middle East, even after the US and its allies announced an unprecedented emergency release of crude reserves to calm energy markets.
Japan's Nikkei 225 Index fell 1.1% to around 54,400, while the broader Topix Index dropped 1.3% to 3,650.
Australia’s S&P/ASX 200 declined 1.56%.
Hong Kong Hang Seng index slid 0.5%, while the CSI 300 was down 0.2%.
Wall Street traders kept both equities and bonds in check as they sifted through fresh geopolitical developments, while oil prices surged. The decision by wealthy nations to tap their strategic reserves was seen as only a temporary buffer against the ongoing conflict in Iran. Meanwhile, inflation data—collected before the crisis escalated—came in softer than expected but did little to encourage risk-taking.
The Dow Jones Industrial Average index shed 289.24 points, or 0.61%, to close at 47,417.27. The S&P 500 inched down 0.08% to settle at 6,775.80, while the Nasdaq Composite ticked up 0.08% to end the session at 22,716.13.
The GIFT Nifty, a futures contract based on the Nifty, is down over 100 points to below 23,800. The Nifty 50 ended 1.6% lower in the previous session to close at 23,866.85.
Indian equity benchmarks resumed their decline on Wednesday after a brief recovery in the previous session, as rising crude oil prices and weak global cues weighed on sentiment. The NSE Nifty 50 dropped 1.6% to settle below the 23,900 mark, while the BSE Sensex fell more than 1,300 points to close marginally above 76,863.
The decline in benchmark indices erased nearly Rs 3.2 lakh crore in market capitalisation among companies in the Nifty 50 index during the session.
Global oil prices surged sharply after two tankers were attacked in Iraqi waters, forcing the country to suspend operations at its oil terminals and intensifying concerns about supply disruptions in an already volatile Middle East.
Brent crude climbed as much as 7.9% to $99.24 a barrel, while West Texas Intermediate (WTI) surged close to $94, as traders reacted to the heightened geopolitical risk and the potential impact on global supply.
Iraq's state oil marketer, the State Organization for Marketing of Oil (SOMO), confirmed that two vessels — the Marshall Islands-flagged Safesea Vishnu and the Malta-flagged Zefyros — were targeted while in the loading zone near Iraqi ports.
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