The Economic Times

The Indian rupee opened stronger today after the Reserve Bank of India introduced new rules. These curbs are expected to lead to banks selling dollars. However, importers and oil companies might buy dollars to hedge their positions. This comes as Brent crude oil prices rise. The rupee has faced significant pressure recently due to outflows and oil price concerns.

India's benchmark bond yield is poised for its largest quarterly surge in four years, driven by escalating oil prices and inflation concerns stemming from the Middle East conflict. This trend is expected to continue, impacting government borrowing costs and bank profits as markets brace for a challenging new fiscal year.

IRB Infrastructure Developers' stock surged 11% after turning ex-date for its 1:1 bonus issue, contrary to initial perceptions of a crash. The company, an integrated toll roads developer, also reported a 22% year-on-year growth in gross toll collections for February 2026, indicating strong operational performance.

Global markets face a volatile end to the first quarter. Geopolitical shocks and Middle East conflict have shaken investor confidence. Energy prices have surged, impacting inflation and monetary policy. Investors are cautious as the second quarter begins, watching economic indicators from the US and Asia. Europe's inflation data will also be key.

Jefferies maintains a bullish outlook on HDFC Bank, deeming its current valuation attractive after a significant stock decline. Despite recent concerns, the brokerage reiterates its 'Buy' rating, citing strong fundamentals and growth prospects. They believe the market has overreacted to governance issues, presenting a compelling investment opportunity with substantial upside potential.

Asian markets, including China and Hong Kong, experienced a significant downturn Monday, mirroring a broader regional sell-off. Escalating Middle East tensions and uncertainties surrounding peace talks dampened investor sentiment. Despite initial losses, Shanghai's Composite Index showed some recovery, though the Hang Seng and CSI 300 indices remained lower.

Banking stocks fell up to 3% after RBI imposed stricter forex position limits, raising concerns over potential mark-to-market losses of Rs 4,000 crore. Analysts warn unwinding large arbitrage trades could hit Q4 earnings, though some market participants believe earlier gains may offset part of the impact.

The war in Iran has triggered widespread financial market chaos, making trading difficult and expensive as investors and market makers shy away from risk. Volatility has surged across major markets, including U.S. Treasuries and gold, with liquidity diminishing significantly, particularly in European futures. Hedge fund activity has exacerbated these stresses, leading to wider bid-ask spreads and increased transaction costs.

Pioneer Fil-Med Ltd, a railway components maker, is planning an Initial Public Offering. The company aims to raise Rs 500 crore through a mix of fresh equity and an offer for sale. Proceeds will fund new manufacturing facilities for gearboxes and wind generator components. This move is expected to boost brand visibility and provide market liquidity for its shares.

The Reserve Bank of India has stepped in to halt the rupee's fall. This move forces banks to unwind dollar positions, potentially leading to a Rs 4,000 crore loss for the banking sector. Banks had profited from differences in dollar rates between local and offshore markets. The RBI's action aims to curb one-sided bets against the rupee.

The Bank of Japan monitors yen weakness closely, with Governor Kazuo Ueda highlighting its impact on import costs and inflation. While short-term rates remain at 0.75%, currency movements increasingly influence price trends. Policymakers balance supporting economic recovery with managing inflation risks amid global uncertainties and sustained yen depreciation.

Indian stock markets experienced a sharp decline on Monday. The Sensex and Nifty saw significant drops, wiping out substantial market capitalisation. This downturn was driven by escalating tensions between Iran and the US-Israel, which fueled a rally in oil prices. Major banking and financial stocks were among the top losers.

Gold and silver prices edged lower on MCX on Monday as a stronger US dollar, driven by escalating Middle East tensions, weighed on precious metals. Gold futures fell 0.68% while silver declined around 0.5%, tracking global weakness where gold has plunged about 16% this monthits steepest fall since 2008.

The Indian Rupee saw a strong rebound on Monday. This surge followed new regulations from the Reserve Bank of India. Banks now face tighter limits on their foreign exchange positions. This move is expected to encourage dollar selling in the domestic market. Traders are likely adjusting their positions. The Rupee recovered significantly from its recent record low.

Indian stocks face headwinds in April due to the Iran-Israel conflict, FII outflows, and a weakening rupee. Despite a historically positive April for the Nifty, driven by domestic buying, current technicals suggest persistent downside pressure. FIIs have been net sellers, influenced by global risk-off sentiment.

Indian markets face turmoil from geopolitical conflict, surging oil prices, and a weakening rupee. HDFC Securities' Devarsh Vakil advises a defensive short-term approach, followed by methodical capital deployment. He highlights crude oil as the key variable, warning of earning downgrades if prices remain elevated, but sees opportunities for long-term investors amidst current gloom.

Jio Financial Services aims to launch general and life insurance businesses by 2026, subject to regulatory approvals, following its entry into the reinsurance sector. The company is currently focused on secured lending to prime customers and distributing third-party unsecured products, with no immediate plans for unsecured or consumer durable lending.

PL Asset Management's Siddharth Vora reveals how a strategic shift helped the fund beat benchmarks by 10-12% over the last year. The fund raised cash buffers, reduced exposure to financials, and focused on value stocks in pharma, energy, and metals. This disciplined approach, prioritizing value with low volatility, drove the impressive performance in a challenging market.

Indian smallcap stocks present a contrarian buy signal. Historical patterns show sharp Q4 corrections are followed by substantial rebounds in the subsequent fiscal year. Market data indicates potential for significant gains in FY27. Rate cuts are expected to boost economic growth and company earnings. Despite near-term headwinds, attractive entry points are emerging for patient investors.

Five Nifty 200 stocks, including HEG and Graphite India, showed bullish momentum after gaining over 5% and witnessing an RSI breakout above 50. The RSI uptrend indicates strengthening price momentum, often seen as a signal for potential upside and used by traders to identify short-term buying opportunities.

Jubilant Foodworks faces operational pressure as LPG supply to parts of its Dominos and Dunkin outlets is constrained amid Middle East tensions. The company is switching to alternative energy sources and engaging with oil marketing companies. QSR stocks have declined in March, while India ensures LPG imports remain uninterrupted.

Oil prices surged on Monday amid escalating Middle East tensions, with Brent crude nearing $120 per barrel. Concerns over a potential US ground offensive in Iran, Iran-aligned Houthis attacking Israel, and supply disruptions drove the rally. Analysts warn prices could hit $200 if the conflict prolongs, while $80 may become the near-term norm.

Five Nifty 200 stocks, including BSE and SBI, closed over 1% below their VWAP on March 27, signalling potential bearish momentum. A drop below VWAP indicates increased selling pressure, as prices settle below the days volume-weighted average, often seen as a key technical indicator for short-term market direction.

Oil prices surged Monday as Yemeni Houthis attacked Israel, escalating the Middle East conflict. Brent crude neared record monthly gains, driven by fears of disrupted shipping lanes in the Red Sea and Bab el-Mandeb. Saudi exports are rerouting, with potential disruptions impacting global supply. Ceasefire talks are underway amidst rising tensions.

The Indian rupee is expected to rally as the Reserve Bank of India imposed curbs on onshore position limits, requiring banks to cap net open rupee positions at $100 million. This move will prompt dollar selling by banks to unwind arbitrage trades, which had exploited the spread between onshore and NDF markets.

Negative breakout alert: 9 large-cap stocks slip below their 200-day moving averages, signaling potential bearish momentum ahead.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources.

Sai Parenteral's IPO share allotment is expected today, with investors able to check their status on BSE or the registrar's website. The issue was subscribed 1.05 times, driven by non-institutional investors, while retail interest was low. The stock is slated for listing on April 2.

Powerica's IPO share allotment is likely to be finalized today. Investors can check their status on BSE or the registrar's website. The company's stock is expected to list on April 2. The IPO saw strong demand from Qualified Institutional Buyers. Powerica is a power solutions provider specializing in diesel generator sets.

Amir Chand Jagdish Kumar IPO share allotment is expected today. The Rs 440 crore issue, which saw 3.41 times subscription, is for processing and exporting basmati rice. Investors can check their status on BSE or the registrar's website. The company aims to utilize funds for working capital. Listing is anticipated on April 2.

Investors have a chance to receive bonus shares from Triton Valves and IRB Infrastructure Developers. The record date for both companies is April 1. To be eligible, shares must be in demat accounts by this date. Markets are closed on March 31 for Mahavir Jayanti. Shares need to be bought by March 30 due to T+1 settlement.

Central Mine Planning and Design Institute Ltd shares are listing on the BSE and NSE today. The Coal India subsidiary's initial public offering was fully subscribed. Demand was led by institutional buyers. The IPO was an offer for sale, raising Rs 1,842 crore. CMPDI is a leading mining consultancy firm. The company has shown strong financial performance.

Speciality Medicines shares debut on the BSE SME platform today. The company's IPO, a fresh issue, sought to raise approximately Rs 29 crore. The price band was set between Rs 117 and Rs 124 per share. Proceeds will fund an R&D centre, international registrations, and marketing. The company operates in speciality pharmaceuticals, with a global presence.

Global markets are on edge as Middle East tensions escalate, pushing the U.S. dollar higher and weakening the Japanese yen past a critical 160 level, sparking intervention fears. Investors are seeking safety amid concerns over prolonged conflict and its impact on oil flows and global economic stability. The euro and sterling also face monthly declines.

Gold prices tumbled over 1% as escalating energy costs fueled inflation fears, diminishing hopes for U.S. interest rate cuts this year. The precious metal has seen a significant monthly decline, impacted by a strengthening dollar amid the ongoing conflict. Traders now anticipate no rate reductions due to persistent inflation concerns.

Aluminium prices surged on Monday, nearing four-year highs as Middle East's largest producers, Emirates Global Aluminium and Aluminium Bahrain, reported damage from Iranian attacks. The strikes impacted facilities, with two employees injured at Aluminium Bahrain, while regional peer Emirates Global Aluminium's site sustained significant damage. This disruption affects global supply from the Gulf region.

Asian markets tumbled as investors braced for a prolonged Gulf conflict, driving oil prices to record monthly gains and fueling global inflation fears. President Trump's remarks on potential U.S. actions against Iran's oil exports added to market jitters, while Pakistan prepared for peace talks. The conflict's impact on energy and commodity prices is expected to persist, pressuring economies worldwide.

India's central bank is implementing forceful new rules to curb speculative bets against the rupee, capping banks' open positions at $100 million daily. This shift from direct intervention aims to stabilize the currency amid record lows driven by the Iran war, which has drained foreign-exchange reserves.

Asian oil refiners are seeking alternatives to Middle East crude benchmarks due to war-driven price volatility that has detached from physical market realities. Erratic price swings, exacerbated by a shortage of pricing barrels and significant buying activity, have made benchmarks unreliable.

Indian markets experienced a sharp decline on Friday, with Nifty and Sensex falling over 2% due to volatility, primarily driven by financials, auto, and consumer stocks. Elevated energy prices and a weakening rupee further impacted investor sentiment.

The Reserve Bank of India has issued a new directive to banks. This rule limits their net open positions in the rupee to $100 million daily. This move aims to halt the rupee's sharp fall against the dollar. Traders anticipate significant dollar sales by banks. The rupee could see immediate gains.

US jobs likely saw a rebound in March, adding an estimated 60,000 positions after a February dip. The unemployment rate is expected to remain at 4.4%. While hiring momentum is slow, there are few signs of major labor market decline. However, rising gas prices due to Middle East conflict are fueling inflation worries, potentially straining consumer resilience.

Indian stock markets saw significant drops on Friday, halting a recent rally. Concerns over the Middle East conflict, climbing energy costs, and a weakening rupee impacted investor sentiment. Financial, auto, and consumer stocks led the decline. The Nifty closed below 22,800 and the Sensex fell over 1,600 points. Volatility increased as foreign investors sold shares.

Geopolitical tensions in West Asia are expected to cause continued downward trends and sharp swings in Nifty this week. Analysts suggest Nifty could fall to the 22,50022,400 zone if it remains below 23,000. Investors are advised to watch for key support levels around 21,90021,700. Trading strategies and top stock picks for the week are also provided.

Zerodha has revised its brokerage plan, now applying higher charges only to derivative traders with a cash collateral shortfall exceeding 5 lakh. This change, effective April 1, impacts less than 1% of its active equity derivative clients.

Rising sovereign bond yields are expected to cause significant mark-to-market losses for banks in the March quarter. Despite RBI's open market operation purchases, escalating geopolitical tensions and inflation concerns have pushed 10-year government bond yields to a 12-month high, impacting bank portfolios.

Financial services firms achieved record fundraising in FY26, raising 49,795 crore through IPOs, the highest in a decade. Despite a struggling finance sector index, these new listings significantly boosted the primary market. Major IPOs from Tata Capital and HDB Financial Services led this surge, accounting for a substantial portion of the total funds raised.