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The GIFT Nifty futures rose 126 points, or 0.56%, to 22,613.50 at 6:35 a.m. on Tuesday, signalling a marginally better start for Indian equities.

Asian markets faced heightened volatility Tuesday on concerns that President Donald Trump’s trade war is risking global economic growth. US equity-index futures rose in early trading.

Amid global uncertainties peaking to Covid levels, Asian markets witnessed heightened volatility on Tuesday but ended on a positive note. The Topix index snapped a three-day sell-off to grow 6.44%. The Nikkei 225 similarly advanced to 6.16%, marking the highest intraday rise since August 2024.

Chinese stocks experienced a sharp downturn on Monday, while government bond yields approached record lows as investors grappled with the escalating trade dispute between China and the United States. Beijing’s retaliatory measures against Washington’s tariffs have forced the market to confront the increasing likelihood of a prolonged trade conflict.

The impact was felt globally, with the S&P 500 initially nearing bear market territory before a dramatic intraday recovery. This reversal marked the index’s largest since the volatile trading conditions of 2020.

India’s benchmark equity indices hit a 10-month low and ended with losses on Monday, extending declines for the third straight session.

The NSE Nifty 50 ended 742.85 points, or 3.24%, lower at 22,161.60, while the BSE Sensex closed 2,226.79 points, or 2.95%, down at 73,137.90.

Large-cap stocks that are part of the Nifty 50 lost Rs 5.18 lakh crore in market capitalisation. Despite the decline, India managed to emerge as the second-best performing market in Asia for the day.

Foreign portfolio investors continued selling stocks for the sixth session in a row on Monday, net offloading around Rs 9,040 crore worth of shares. Domestic institutional investors turned net buyers after a selling session as they mopped up equities worth Rs 12,122.5 crore.

Stocks To Watch

  • Bharat Electronics: The company received an order worth Rs 2,210 crore for electronic warfare from the Indian Air Force. The company received orders worth Rs 2,803 crore so far in financial year 2026.

  • Mahindra & Mahindra: The company reported total production at 88,701 units against 71,814 units. Total sales at 79,751 units versus 66,840 units. The company incorporated Mahindra Advanced Technologies as a wholly owned subsidiary.

  • Titan: In its fourth quarter business update, the company reported a year-on-year growth of 22% in CaratLane. The standalone business of the company saw an uptick of 25% compared to last year.

  • P N Gadgil Jewellers: The company reported in its business update a consolidated revenue growth of 26% year-on-year. The retail segment grew 50% compared to last year while the e-commerce segment grew 244% when compared to the year-ago period.

  • Brigade Enterprises: The company signed a joint development agreement for a 10-acre residential project in Mysuru, with a gross development value estimated at Rs 225 crore.

  • Global Health: The company received an offer from Assam Electricity Grid Corp. to acquire 3 acres in Guwahati to set up a super speciality hospital.

  • KPI Green Energy: The company terminated an order from Sai Bandhan Infinium for a 66.20 MW hybrid power project. The order termination is due to change in project technical requirements post receipt of order.

  • Zee Entertainment: The NCLAT dismissed an appeal filed by IDBI Bank against a May 2023 order that quashed insolvency proceedings against the company.

  • NMDC: The company issues clarification on the report “NMDC faces governance scrutiny over loss-making Australian subsidiary amid fresh investment concerns.” The company said that the mining projects do not get cash positive in the initial period and take time to stabilise.

Bulk Deals

  • Cyient: HDFC Mutual Fund bought 6.23 lakh shares (0.56%) at Rs 1,099 apiece.

Insider Trades

  • Ultramarine & Pigments: Promoter S Narayan sold 3,000 shares on Feb. 28.

  • Apollo Hospitals Enterprise: Promoter K Visweshwar Reddy revoked a pledge for 1.5 lakh shares on April 4.

Trading Tweaks

  • Price Band changes from 5% to 2%: Godavari Biorefineries, Trucap Finance.

  • List of securities shortlisted in Short-Term ASM Framework Stage 1: Garware Hi-Tech Film

  • List of securities to be excluded from ASM Framework: NIBE.

F&O Cues

  • Nifty April Futures down by 2.78% to 22,263 at a premium of 102 points.

  • Nifty April futures open interest up by 1.62%.

  • Nifty Options April 9 Expiry: Maximum call open interest at 25,400 and maximum put open interest at 20,650.

  • Securities in ban period: Birlasoft, Hindustan Copper, Manappuram Finance. 

Currency Update

The Indian rupee closed at the lowest level in two weeks against the US dollar on Monday, snapping its brief rebound last week as global trade tensions and risk-off sentiment deepened across markets.

The domestic currency ended 60 paise lower at 85.84 against the greenback. The unit had opened at 85.75, marking its biggest single-day drop in six weeks.

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