| The domestic equity benchmarks traded with significant losses in the afternoon, tracking global risk aversion after Donald Trump’s hawkish stance on Iran. Brent crude surged toward $105, raising inflation concerns. Domestic markets remained cautious ahead of the weekly expiry of BSE Sensex contracts. Being the final session of a truncated week, volatility is expected to stay elevated with global cues guiding trade.
The Nifty slipped below the 22,350 mark. Consumer durables shares declined after advancing in the trading session.
At 12:30 ST, the barometer index, the S&P BSE Sensex, tanked 1,266.34 points or 1.73% to 71,867.98. The Nifty 50 index slipped 378.75 points or 1.66% to 22,301.75.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index dropped 1.91% and the BSE 250 SmallCap Index fell 1.79%.
The market breadth was weak. On the BSE, 1,353 shares rose and 2,577 shares fell. A total of 198 shares were unchanged.
Economy:
India’s manufacturing activity eased to 53.9 in March 2026, down from 56.9 in February, according to the latest Purchasing Managers’ Index (PMI) data released on April 2.
The reading marks a 45-month low, with the last comparable level seen in September 2021 (53.7), indicating a moderation in manufacturing momentum.
The March print also reverses the uptrend seen earlier in 2026, when PMI rose from 55.0 in December to 55.4 in January and 56.9 in February.
While the index remained in the 55–59 range during 2024–2025, with peaks above 59, the latest decline suggests softening demand conditions and rising input cost pressures. The moderation comes amid heightened geopolitical tensions and elevated crude oil prices, which have begun to weigh on business sentiment and cost structures.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.90% to 25.99. The Nifty 28 April 2026 futures were trading at 22,340.60, at a discount of 38.85 points as compared with the spot at 22,301.75.
The Nifty option chain for the 28 April 2026 expiry showed a maximum call OI of 43.2 lakh contracts at the 23,000 strike price. The maximum put OI of 37.2 lakh contracts was seen at 21,000 strike price.
Buzzing Index:
The Nifty Consumer Durables index fell 2.55% to 32,798.65. The index jumped 1.92% in the past trading session.
G Electroplast (down 6.03%), Amber Enterprises India (down 4.51%), LG Electronics India (down 3.76%), Voltas (down 3.66%), Kajaria Ceramics (down 3.21%), Whirlpool of India (down 3.1%), Blue Star (down 2.84%), Titan Company (down 2.5%), Havells India (down 1.88%) and Crompton Greaves Consumer Electricals (down 1.66%) declined.
Stocks in Spotlight:
V2 Retail shed 0.63%. The company reported a 59.92% jump in standalone revenue to Rs 798 crore in Q4 FY26, compared with Rs 499 crore in Q4 FY25.
Imagicaaworld Entertainment added 0.17%. The company said that it has entered into an operation and maintenance agreement with Keshav Holiday Resort to run, manage and operate the Water Park business of KHRPL, called Shankus Water Park.
|