Indices trade with significant losses; PSU bank share slide

The domestic equity benchmarks traded with major losses in the mid- afternoon trade, weighed down by persistent geopolitical tensions in West Asia, rising crude oil prices, and continued foreign fund outflows.

The Nifty traded below the 24,650 mark. PSU Bank shares declined after advancing for previous trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, slumped 624.22 points or 0.78% to 79,392.40. The Nifty 50 index fell 154.30 points or 0.62% to 24,611.60.

In the broader market, the BSE 150 MidCap Index fell 0.43% and the BSE 250 SmallCap Index rose 0.05%.

The market breadth was positive. On the BSE, 2,094 shares rose and 1,993 shares fell. A total of 206 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index fell 0.93% to 9,285.35. The index added 0.49% in the previous trading session.

Bank of Baroda (down 1.44%), Bank of India (down 1.42%), State Bank of India (down 1.36%), Bank of Maharashtra (down 1.18%), Central Bank of India (down 0.95%), Punjab National Bank (down 0.86%), Indian Overseas Bank (down 0.75%), Punjab & Sind Bank (down 0.63%), Canara Bank (down 0.4%) and UCO Bank (down 0.36%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper added 0.47% to 6.669 compared with previous session close of 6.638.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 91.6700 compared with its close of 91.6450 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement rose 0.38% to Rs 160,277.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 99.

The United States 10-year bond yield rose 0.07% to 4.151.

In the commodities market, Brent crude for May 2026 settlement rose 14 cents or 0.16% to $85.55 a barrel.

Stocks in Spotlight:

NMDC rallied 2.17% after the company announced a price hike for Baila Lump iron ore (65.5%, 10-40MM) and Baila Fines (64%, -10 mm), with revised rates effective from 6 March 2026.

Devyani International shed 0.89%. The company informed that Shivashish Pandey has resigned from his position as CEO?Yum Brands (designated as Senior Management Personnel).

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