| The key equity benchmarks ended with sharp losses today, amid IT stocks slumped on worries about artificial intelligence-led disruption and fragile global macro outlook. Sentiment further dented due to expiry of BSE derivatives contracts, leading investors to adopt a risk-off stance. The Nifty closed near the 25,800 level after hitting an intraday low of 25,752.40 in the final leg of trade.
The barometer index, the S&P BSE Sensex declined 558.72 points or 0.66% to 83,674.92. The Nifty 50 index fell 146.65 points or 0.57% to 25,807.20.
In the broader market, the BSE 150 MidCap Index dropped 0.46% and the BSE 250 SmallCap Index slipped 0.86%. The market breadth was negative.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.53% to 11.73.
Among the sectoral indices, the Nifty Consumer Durables index (up 0.40%), the Nifty Financial Services index (up 0.38%) and the Nifty Metal index (up 0.02%) outperformed the Nifty 50 index.
Meanwhile, the Nifty IT index (down 5.51%), the Nifty Realty index (down 1.45%) and the Nifty Media index (down 1.31%) underperformed the Nifty 50 index.
Direct Tax Collection :
The central government’s net direct tax collections, after accounting for refunds, stood at Rs 19.43 lakh crore so far this fiscal year, up 9.4% from a year earlier. Net corporate tax collection rose 14.51% to Rs 8.90 lakh crore, while taxes from non-corporates, including individuals and Hindu Undivided Families (HUFs), rose 5.91 % to about Rs 10.03 lakh crore.
Numbers to Track:
The yield on India's 10-year benchmark federal paper fell 0.13% to 6.701 compared with previous session close of 6.710.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.5825 compared with its close of 90.7800 during the previous trading session.
MCX Gold futures for 2 April 2026 settlement declined 0.47% to Rs 158,002.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.10% to 96.82.
The United States 10-year bond yield rose 0.05% to 4.170.
In the commodities market, Brent crude for April 2026 settlement declined 39 cents or 0.56% to $69.01 a barrel.
Global Markets:
European market advanced on Thursday as investors awaited for U.K. fourth quarter GDP and industrial production figures.
Most Asian market ended higher, buoyed by Japan’s post-election rally to fresh highs, fueled by renewed confidence in domestic politics and the ruling administration’s economic agenda.
Japanese stocks extending its post-election rally to fresh highs, fueled by renewed confidence in domestic politics and the ruling administration’s economic agenda.
Media reports noted that Takaichi’s snap-election landslide gives her an unusually strong, multi-year mandate to execute policy, which they view as broadly supportive for Japan’s markets and corporate sector.
Overnight in the U.S., the Dow Jones Industrial Average snapped a three-day win streak after a better-than-expected January jobs report.
The blue-chip index lost 66.74 points, or 0.13%, and closed at 50,121.40. The S&P 500 was nearly flat at 6,941.47. The Nasdaq Composite dropped 0.16% to end at 23,066.47.
The Bureau of Labor Statistics’ January nonfarm payrolls report showed job growth of 130,000 in January. Media reports suggested that the job growth gains for January were estimated to be around 55,000. Jobs growth in December was downwardly revised to 48,000.
Strong labor market has reduced the odds for interest rate cuts by the Federal Reserve.
The jobs report follows weaker-than-expected consumer data released on Tuesday. That report showed that consumer spending in December was flat, missing the 0.4% monthly gain expected from economists polled by Dow Jones.
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