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* Equity benchmark indices witnessed sharp selling pressure, with the Sensex tumbling over 900 points and the Nifty slipping below the 25,200 mark. The decline was driven by sustained FII outflows, escalating geopolitical tensions, and investor caution ahead of the outcome of the US–Iran nuclear negotiations, along with ongoing concerns around global trade disruptions. Market participants also remained guarded ahead of the domestic GDP data scheduled for release post-market hours.

* Selling was broad-based across the board. The Nifty Midcap and Smallcap indices fell more than 1% each, while the Nifty 500 advance-decline ratio stood at 1:4, highlighting widespread weakness across sectors. Additional pressure emerged in the final hour of trade due to MSCI Global index rebalancing.

* The Nifty dropped 318 points (1.2%) to close at 25,178, while the Sensex plunged 961 points (1.1%) to close at 81287. Most sectoral indices ended 1–2% lower, barring IT, which managed marginal gains amid a cautious stance by traders ahead of developments in US tariff policies.

* Globally, US markets declined around 1.2%, led by weakness in technology stocks after disappointing earnings from Nvidia. Meanwhile, European and Asian markets delivered a mixed performance.

TechnicalOutlook:

* Nifty index opened negative and drained strength towards the conclusion of the week and moved in a choppy manner throughout the day. It dropped below 25150 zones in the last hour as selling intensified amongst fearful global cues and closed with losses of around 320 points. It formed a bearish candle on the daily and weekly frame and closed near its lower band. Now till it holds below 25200 zones, weakness could be seen towards 25000 then 24850 zones while hurdles have shifted lower to 25350 then 25500 zones.

* S&P BSE Sensex index opened on a flattish note but bears took charge from the first tick as intense selling pressure emerged in the opening hour dragging the index lower by nearly 650 points from the intraday highs. Thereafter, the index traded within a range of 200 points with a sell-on-bounce bias. In the final hour, bears returned with renewed aggression triggering another round of selling and the index confirmed a range breakdown closing below the support of 81900 zone. It formed a bearish candle on the daily and weekly frame. Now till it holds below 81600 zones weakness could be seen towards 81000 then 80700 zones while hurdles have shifted lower to 81600 then 81900 zones.

DerivativeOutlook

* Nifty future closed negative with losses of 1.15% at 25341 levels. Positive setup seen in Siemens, Union Bank, Voltas, KEI Industries, Glenmark, Aurobindo Pharma, OIL, Indian Bank, APL Apollo and CG Power while weakness in LTF, Bharti Airtel, Muthoot Finance, Indigo, CDSL, Lodha, Kaynes, Hudco, AB Capital and Hudco.

* On option front, Maximum Call OI is at 25500 then 25400 strike while Maximum Put OI is at 25000 then 25200 strike. Call writing is seen at 25400 then 25300 strike while Put writing is seen at 25150 then 25100 strike. Option data suggests a broader trading range in between 24700 to 25700 zones while an immediate range between 24900 to 25300 levels.

* DEE Development - Company has secured a letter of intent (LoI) worth Rs58cr for manufacturing alloy steel seamless pipes at its new forged seamless pipe plant in Anjar, Gujarat.

* Fairfax Said to Lead Race for $8 Billion IDBI Bank Stake Sale - Fairfax Financial Holdings is the frontrunner to buy a majority stake in IDBI Bank. Fairfax, founded by Indian-born Canadian billionaire Prem Watsa is in advanced talks with the government and is considered ahead of rival bidders. The 61% stake that the government and a state-run insurer hold in the private lender is worth about $8 billion at current market price.

* India-US trade deal may be 'rebalanced' if circumstances change, says Piyush Goyal - India’s proposed trade agreement with the United States will be “rebalanced” if required, Commerce and Industry Minister Piyush Goyal on Friday said, reiterating that New Delhi will protect its economic interests amid evolving tariff signals from Washington.

* Gujarat Mineral Development Corporation: The state-run mineral firm has entered into a memorandum of understanding (MoU) with NTPC to jointly explore opportunities in coal and lignite gasification and downstream utilisation. It establishes a framework to assess the feasibility of gasifying coal from GMDC’s coal blocks in Odisha and lignite from its mining operations in Gujarat.

* Netweb Technologies India: Vertiv has announced a collaboration with the super computer player to jointly engineer and validate Netweb’s in-house designed GPU compute platforms with Vertiv’s integrated, end-to-end AI data centre solutions.

* MSTC: The trading & distribution firm has become the lowest bidder for a tender hosted by Coal India on the GeM portal for the appointment of an external service provider to conduct linkage auctions for the non-regulated sector (NRS) for three years. * Greaves Cotton: The industrial products player's subsidiary, Greaves Electric Mobility, has announced its international expansion into Nepal, in partnership with STC Auto Solution. As part of this expansion, the company is launching its flagship product, Ampere Nexus.

* Media reported that government is likely to extend production-linked incentives for smartphone manufacturers. Government is considering an extension to help the industry remain competitive against China, the report said, as the current round of incentives is set to expire on March 31.

* Lupin - Company has received the Establishment Inspection Report (EIR) from the US FDA for its manufacturing facility located in Goa, India. This positive outcome underscores Lupin’s ongoing dedication to global quality standards and regulatory complianc

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