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• Equity benchmark Sensex plunged by over 1,000 points, while the Nifty dropped below the 23,100 level, driven by persistent foreign capital outflows, concerns over weak earnings, slowing economic growth, and the domestic currency hitting record lows against the dollar. Additionally, market sentiment was further weighed down by US President Trump's plan to impose reciprocal tariffs on trading partners, which is expected to hurt emerging markets, including India and Thailand. There are growing concerns that these tariffs could have a significant negative impact on emerging economies, particularly Indi

• The market saw broad-based selling, with all sectors closing in the red. The Nifty Midcap 100 fell by 1,611 points, or 3%, marking a 6.5% correction over the last four trading sessions, reflecting broader market weakness. Ten index stocks, including Godrej Properties and Tata Chemicals, reached fresh one-year lows. Additionally, 50% of mid-cap stocks are now down between 31% and 60% from their respective one-year highs. The Nifty 500 stocks showed a 1:9 advance-decline ratio, indicating aggressive selling. The Sensex fell 1,018 points (1.3%) to close at 76,293, while the Nifty lost 309 points (1.3%) to close at 23,071. The Nifty small-cap, realty, auto, FMCG, PSU Bank, and metal indices all slipped between 2-3%

• Globally, both European and Asian markets had mixed performances as traders anxiously watched for further actions from President Trump following his approval of tariffs on steel and aluminum imports and his warning of more measures. Additionally, attention is on US Federal Reserve Chair Jerome Powell's Congressional hearings today, along with the upcoming US inflation data release tomorrow

Technical Outlook:

• Nifty index opened on a flattish note but witnessed selling pressure from the first tick itself followed by some consolidation till midday. After that, in the later part of the session, selling was intensified pushing Nifty below 23000 zones. Bears dominated the entire session as the index closed with a losses of over 300 points.

• It formed a Bearish Belt Hold kind of candle on daily frame and forming lower high - lower low from last five trading session. Now till it holds below 23200 zones, weakness could be seen towards 22950 then 22800 zones whereas hurdles are placed at 23200 then 23333

Derivative Outlook:

• Nifty future closed negative with losses of 1.36% at 23139 levels. Positive setup seen in Grasim, Bharti Airtel and Adani Enterprise while weakness in Policy Bazar, BSE, Eicher Motors, Apollo Hospitals, NCC, KEI Industries, HFCL, PEL, VBL, PFC, MCX, Zomato and Gujarat Gas.

• On option front, Maximum Call OI is at 24000 then 23800 strike while Maximum Put OI is at 22500 then 22700 strike. Call writing is seen at 23300 then 23400 strike while Put writing is seen at 22700 then 22500 strike. Option data suggests a broader trading range in between 22500 to 23500 zones while an immediate range between 22900 to 23300 levels.

• IOC in talks for 15-Year LNG supply deal with Cheniere – Company is said to be in talks to sign a 15-year supply deal with Cheniere Energy Inc. The agreement would be for the supply of 1.5 million to 2 million tons of LNG a year, said the person. Supplies are likely to start in April 2027

• Bondada Engineering - Company has received a Letter of Award for an order worth Rs 228 crore from South Central Railways

• NBCC India - Company sold 1,233 residential units worth Rs 3,217 crore via e-auction in Greater Noida.

• Bharat Forge – Company has signed a Memorandum of Understanding (MoU) with L3Harris Technologies to support advanced defense and security equipment in India.

• TCS – Company announced that it has partnered with Muscat Clearing & Depository to modernize its operations.

• Samaan Capital Q3 FY25 - Net Profit Rs302cr (down 0.3% YoY), Revenue Rs2020cr (down 5.6% YoY) and GNA 1.14% vs 2.85% QoQ

• Sequent Scientific Q3 FY25 – Impressive Ebitda and Ebitda margin- Net Profit Rs3.4cr (down 58.5% YoY), Revenue Rs391cr (up 19% YoY), Ebitda Rs34.6cr (up 56% YoY) and Ebitda Margin 8.9% vs 6.7% YoY

• Keystone Realtors Q3 Revenue falls 10.9% (YoY) to Rs 464 crore, Ebitda rises to Rs 41.4 versus Rs 8.5 crore (YoY). Margin at 8.9% versus 1.6% (YoY). Net profit falls 50.1% (YoY) to Rs 15.1 crore

• Junpier Hotels Q3 Net profit surges to Rs 32.5 crore versus Rs 3.5 crore (YoY). Revenue rises 6.9% (YoY) to Rs 252.5 crore, . Ebitda falls 3.9% (YoY) to Rs 93 and Ebitda Margin at 36.8% versus 40.9% (YoY).

• Schneider Electric Q2 Revenue rises 15.2% (YoY) to Rs 857 crore. Ebitda rises 26.9% (YoY) to Rs 140cr, Ebitda Margin at 16.4% versus 14.8% (YoY). Net profit rises 21.6% (YoY) to Rs 111 crore

Market Update

• European Market - European stocks hovered near a record high as investors looked ahead to the latest round of corporate earnings reports and weighed the potential for a broader trade war with the US. UK, Germany and France are trading flat to positive.

• Asian Market – Asian markets witnessed mixed bag as traders keep a nervous eye on Donald Trump's next moves after he signed off on tariffs for steel and aluminium imports and warned of more measures to come. The US president has lived up to his campaign pledges to resume his hardball trade diplomacy to extract concessions on a range of issues, including commerce, immigration and drug trafficking.

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