Oil prices saw a significant drop as hopes for a ceasefire in the Middle East grew. Reports suggested a U.S. proposal aimed at ending the conflict was sent to Iran. This news led to profit booking in crude oil futures. However, ongoing military activity and concerns over the Strait of Hormuz persist.
Indian equities surged nearly 2% and the rupee gained as traders reduced bearish bets following the US halting strikes on Iran. However, tempered optimism persists due to a lack of reciprocal statements from Tehran and ongoing reports of Iranian attacks, suggesting continued market volatility.
Global markets reacted positively as hopes grew for an end to the Middle East conflict. Oil prices fell significantly, while stock markets in Asia saw gains. The US is reportedly pursuing a ceasefire and diplomatic solutions. This easing of tensions tempered inflation fears, leading to a weaker dollar and lower Treasury yields. Gold and Bitcoin prices also rose.
Indian stock markets surged on Tuesday. This rise followed positive news from US-Iran negotiations. Major indices like the Nifty and Sensex saw significant gains. Several companies including Mahindra & Mahindra and Kotak Mahindra Bank will be in focus today due to recent developments and upcoming financial results.
The Supreme Court has ordered its registry to disburse ₹5,100 crore from former Sterling Biotech directors to banks proportionally within a week. The court also barred further claims from unsecured creditors and will address the Sebi probe into alleged fund routing on April 2.
NBFCs have urged the finance ministry to replace flat LCR haircuts on lower-rated bonds with a graded system to boost liquidity and incentivize safer investments. The government has asked RBI to review the proposal, though global Basel III norms may limit regulatory flexibility.
Adani Green Energy saw block deals with BNP Paribas buying and Morgan Stanley selling shares. Despite a December-quarter net loss, the company’s power supply revenue and EBITDA grew over 20%, driven by 5.6 GW new capacity, keeping 50 GW target on track.
Thane, A court in Thane district on Tuesday granted bail to two co-founders of cryptocurrency exchange platform CoinDCX, Sumit Gupta and Neeraj Khandelwal, arrested in an alleged Rs 71.60 lakh cheating case, holding that prima facie no case was made out against them.
Shares of ImmunityBio fell 20% on Tuesday after the U.S. Food and Drug Administration issued a warning letter that said a television advertisement and podcast promoting its cancer therapy were false or misleading and violated federal law.
Nifty surged on gains in banks, auto and IT but formed an indecisive candle near 23,000 resistance, signaling uncertainty. Market direction hinges on next session’s opening. Analysts recommend Linde India and Prime Focus, citing bullish breakouts, strong momentum, and improving technical indicators.
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