BSE Healthcare

Sensex, Nifty fall on rising crude, West Asia tensions., IT resilient; PSU banks rise on fresh business updates., India VIX rose 3 percent, signaling increased market volatility.

* Sensex, Nifty fall on rising crude, West Asia tensions.
* IT resilient; PSU banks rise on fresh business updates.
* India VIX rose 3 percent, signaling increased market volatility.

Sensex and Nifty fell on Monday amid rising crude prices, escalating West Asia tensions, persistent FII selling, weak global cues, and higher market volatility. IT and banking stocks showed resilience, while most sectors traded in the red.

shorts/business/sensex-down-500-pts-nifty-near-22-550-trump-s-iran-threat-among-key-factors-behind-market-decline

The benchmark equity indices Sensex and Nifty declined on Monday, extending a subdued trend after six straight weekly losses, amid rising crude oil prices and concerns over escalation in the West Asia conflict.

At around 10:05 am, the Sensex was down 503.68 points to 72,815.87. The Nifty slipped 102.85 points to 22,610.25.

Eleven of the 16 major sectoral indices were trading in the red. The broader Nifty Smallcap100 index fell 0.3 percent, while the Nifty Midcap100 index was flat.

Among sectors, IT stocks showed some resilience on expectations of a better-than-anticipated March quarter. Banking stocks also remained in focus, with valuations seen as attractive following recent selling linked to foreign fund outflows.

Shares of public sector banks rose 1.8 percent after quarterly business updates indicated improvement in loan growth momentum. Bank of Maharashtra, Bank of India and Bank of Baroda gained 4.2 percent, 4.1 percent and 3.5 percent, respectively.

&quot;Loan growth for private banks was steady and improved slightly for some public sector banks, reflecting tailwinds from higher working capital demand,&quot; Jefferies said in a note.

Among individual stocks, Trent jumped 5.4 percent after reporting a 20 percent rise in standalone revenue for the March quarter. Wipro added about 1 percent after securing a $1 billion deal.
Key factors behind market decline
1) Higher crude prices: Higher crude weighed on sentiment, with Brent trading USD 109.8 per barrel. Elevated oil prices are seen as negative for India, as they may widen the fiscal deficit, push up inflation and impact growth.

&quot;With uncertainty over the West Asia conflict looming large, the market will continue to be volatile, responding to potential developments. The possibility of further escalation remains high, and crude price movement will be closely tracked,&quot; VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said.

2) Escalating West Asia tensions: Tensions in West Asia also intensified after US President Donald Trump warned of possible action if key supply routes, including the Strait of Hormuz, are not reopened.

&quot;Comments from US President Donald Trump indicating potential escalation if key supply routes are not restored have kept risk appetite in check. Crude oil and global uncertainty remain dominant drivers for markets,&quot; Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.
Stock Market Live Updates
3) Persistent FII selling: Foreign institutional investors (FIIs) continued to offload equities, selling shares worth Rs 9,931.13 crore on Thursday, adding pressure on the markets. Equity markets were closed on Friday due to Good Friday.

4) Weak global cues: S&amp;amp;P and Dow Jones futures were trading lower, indicating a soft start for US markets.

5) India Vix rises: The India VIX, a measure of market volatility, rose 3 percent to 26.24. A higher VIX indicates increased uncertainty among investors and typically leads to sharper market swings.
Technical Putlook
According to Anand James, Chief Market Strategist at Geojit Investments Limited, the Nifty may see further downside unless it sustains above key levels. He said a break below 22,525 could open the possibility of a decline towards the 21,900–21,600 range, while resistance is seen around 22,770.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sensex down 400 pts, Nifty near 22,600: Trump's Iran threat among key factors behind market decline

Trump renews threat of major attacks | Oil prices gain, Dollar firm | Bank Stocks in Focus on Q4

Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to open lower on April 6, tracking losses in GIFT Nifty, which was trading around the 22,672.50 level.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

In a highly volatile session on April 2, the Indian market ended on a positive note, with the Nifty closing above 22,700, supported by IT stocks after the Indian rupee posted its biggest gain in more than 12 years.

At close, the Sensex was up 185.23 points or 0.25 percent at 73,319.55, and the Nifty was up 33.70 points or 0.15 percent at 22,713.10.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

GIFT Nifty was trading lower at the 22,672.50 mark, indicating a negative start for Indian equity indices.

Asian Equities (Jump)

Japan and South Korean stocks rose Monday, while most Asian markets were closed for holidays, as investors parsed the latest developments in the Middle East conflict over the weekend.



US Equities (Mixed)

U.S. stocks ended ​slightly mixed on Thursday after paring deeper losses, as diplomatic signals from the Middle East helped calm markets rattled ‌earlier by U.S. President Donald Trump's threats of tougher action against Iran ahead of a long holiday weekend.

The Dow Jones Industrial ​Average fell 0.13%, to 46,504.67 points, the S&amp;amp;P 500 gained 0.11% to 6,582.69 points, and the Nasdaq Composite gained 0.18%, to 21,879.18.

For the week, the S&amp;amp;P 500 gained 3.36%, the Nasdaq rose 4.44%, and the Dow climbed ‌2.96%. The ⁠Russell 2000 small-cap index rose 3.19%.



Dollar Index (Up)

The dollar was steady on Monday, while the yen flirted with the crucial 160 per dollar level as nervous investors took stock of the escalating Iran war, with all eyes on the latest deadline from U.S. President Donald Trump to reopen Strait of Hormuz.



US Bond Yield (Up)

The yield on the U.S. 10-year Treasury bond was up 1.7 basis points at 4.35%, and the 2-year U.S. Treasury rose 2.2 basis points at 3.86%.



Asian Currencies (Mixed)

Asian currencies were trading mixed in the early trade on Monday, with the Singapore Dollar, Taiwan Dollar, Philippines Peso leading the losers. At the same time, gainers included South Korean Won, Thai Baht, China Renminbi, and Indonesian Rupiah.



Crude (Up)

Oil gained as President Donald Trump imposed a fresh ultimatum on Tehran and threatened to strike power plants and other civilian infrastructure in Iran if the Strait of Hormuz is not reopened.



Gold (Slips)

Gold and Silver prices were trading lower in the early trade on Monday.



Fund Flow Action

Foreign Institutional Investors (FIIs) extended their selling streak, offloading equities worth ₹9,931 crore on April 2. However, Domestic Institutional Investors (DIIs) provided support, purchasing equities worth over ₹7,200 crore.



Hope you're all set for today's trade. We wish you a profitable day ahead.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Tick: Top global cues to watch in today’s trade

Sensex Today | Stock Market LIVE Updates: Trent, Wipro, Coal India, Hindalco Industries, Titan Company are among major gainers on the Nifty, while losers are Interglobe Aviation, Kotak Mahindra Bank, Reliance Industries, Sun Pharma, Adani Enterprises. Nifty Midcap and smallcap indices down 0.5% each. On the sectoral front, PSU Bank index up 2%, metal index up 1%, while auto, Nifty Bank, Consumer Durables, capital goods, IT up 0.5% each. However, oil &amp;amp; gas, pharma down 0.5-1%.

Sensex Today | Stock Market Live: Sensex down 260 pts, Nifty at 22,650; media, pharma down, PSU Bank, metals shine

If Iran conflict reaches definitive resolution this month, FY27 to be exceptionally strong year for Indian equities, Q1FY27 may still see turbulent sideways consolidation before sustained rally, Overall bank asset quality remains near multi-decade lows, NBFCs continue to be broadly capitalised

* If Iran conflict reaches definitive resolution this month, FY27 to be exceptionally strong year for Indian equities
* Q1FY27 may still see turbulent sideways consolidation before sustained rally
* Overall bank asset quality remains near multi-decade lows, NBFCs continue to be broadly capitalised

shorts/business/daily-voice-indian-equities-could-rally-into-fy27-if-iran-conflict-ends-this-month-says-waterfield-s-vipul-bhowar

According to Vipul Bhowar, the Senior Director, Head of Equities, Waterfield Advisors, if the Iran conflict reaches a definitive, verifiable resolution this month, fiscal year 2027 is well-positioned to be an exceptionally strong year for Indian equities.

The transition from panic to recovery is expected to be volatile, implying that the first quarter of FY27 may still see turbulent sideways consolidation before a sustained rally, he said in an interview to Moneycontrol.

However, he added that if the ongoing conflict extends into the first quarter of fiscal year 2027 (April to June), there is likely to be a structural energy shock, systemic supply chain paralysis, and a significant recalibration of global growth. During the fourth quarter earnings season, management commentaries are expected to adopt a universally cautious tone, he said.

Do you believe FY27 will be a strong year for equity markets if the Iran conflict sees a definitive resolution this month?

Yes, if the Iran conflict reaches a definitive, verifiable resolution this month, Fiscal Year 2027 is well-positioned to be an exceptionally strong year for Indian equities. The recent decline was attributable solely to external macroeconomic shocks rather than to a domestic microeconomic breakdown.

The transition from panic to recovery is expected to be volatile, implying that the first quarter of FY27 may still see turbulent sideways consolidation before a sustained rally. The March correction effectively eliminated the inflated valuations observed at the end of calendar year 2025. Currently, the markets are at considerably more reasonable entry points.

Have you made any significant revisions to your earnings, economic growth, and inflation estimates amid the ongoing war?

The growth outlook for India Inc. remains largely stable owing to robust GDP figures; however, operating margins are being substantially downgraded for the first half of fiscal year 2027. Margin projections for sectors such as oil derivatives and import-dependent industries—including paints, FMCG, aviation, and agrochemicals—may be adversely affected.

Conversely, earnings forecasts for domestically oriented banks are relatively resilient, buoyed by strong credit growth. Meanwhile, the IT and pharmaceutical sectors are experiencing modest upward revisions amid the rupee's depreciation.

The Reserve Bank of India currently projects FY26 inflation at 4.2%, while explicitly acknowledging upward pressure, primarily from precious metals and geopolitical uncertainties. It remains evident that India's domestic momentum, driven by state capital expenditure and robust consumer demand, is sufficiently vigorous to counterbalance geopolitical headwinds, although the safety margin has clearly diminished.

Do you see the possibility of a strong reversal in FII flows if the war ends in April?

In the event that we observe a conclusive resolution to the Middle Eastern conflicts in April, a significant and pronounced reversal in foreign institutional investment (FII) flows is highly likely. Currently, we are witnessing a structural global shift as foreign investments are actively reallocating capital towards the global artificial intelligence and semiconductor hardware sectors, specifically in companies such as TSMC, Samsung, and SK Hynix based in Taiwan and South Korea.

Given that India's capital markets are presently more focused on IT services and less on deep-tech hardware, a portion of the capital being withdrawn may migrate structurally to East Asia rather than returning entirely to the Indian markets.

Have you identified compelling investment opportunities in the recent sharp sell-off?

The defence manufacturing sector, power generation and transmission, and capital goods industries are currently benefiting from sustained multi-year visibility in their order books, largely driven by government Production-Linked Incentive (PLI) schemes and an emphasis on achieving self-reliance in manufacturing.

Furthermore, the fundamental microeconomic indicators for large-cap private banks remain exceptionally strong. Credit growth is robust, and gross non-performing assets (NPAs) are at their lowest levels in several years.

Do you expect any policy measures from the RBI in this week's meeting?

The Reserve Bank of India (RBI) is expected to demonstrate its ability to manage liquidity, facilitate credit flows, and ensure market stability through targeted, non-rate measures while awaiting a resolution of the current geopolitical uncertainties.

RBI will unanimously hold the policy repo rate unchanged at 5.25 percent and explicitly maintain its neutral stance. Given that the inflation target for the fiscal year 2026-27 was previously established at approximately 4.0 percent to 4.3 percent, one should expect the RBI to formally recognise significant upside risks. There may be a cautionary note about the risk of inflation approaching the 5 percent threshold, particularly if the conflict in the Middle East continues to escalate.

Do you think the rupee needs to depreciate meaningfully for India’s growth as a manufacturing hub?

Currency stability is fundamental to the allocation of foreign corporate capital. A stable Indian Rupee (INR) significantly reduces offshore borrowing costs for Indian manufacturers seeking to expand their capacities.

The real opportunities for growth in India’s manufacturing sector over the course of this decade will arise from companies that strategically work to reduce costs, benefit from Production-Linked Incentive (PLI) subsidies, establish robust domestic supply chains, and enhance their global market share through operational excellence and scale.

Do you see pressure on asset quality across banks and NBFCs driven by rising retail NPAs?

While there is some pressure on asset quality, it appears to be contained rather than indicative of systemic concern. The stress is primarily concentrated in unsecured retail products such as personal loans, credit cards, and microfinance.

Meanwhile, overall bank asset quality remains near multi-decade lows, and NBFCs continue to be broadly capitalised.

What could be the potential impact on markets, economy, earnings, globally if the West Asia war continues through April, May, or June, particularly amid rising fears of an Iran ground invasion? Could you explain the depth of the impact on a month-wise basis?

If the ongoing conflict extends into the first quarter of fiscal year 2027 (April to June), we are likely to experience a structural energy shock, systemic supply chain paralysis, and a significant recalibration of global growth. During the fourth quarter earnings season, management commentaries are expected to adopt a universally cautious tone. Forward guidance for the following quarter will likely be rescinded or substantially downgraded as companies recognise their inability to accurately predict input costs.

In May, a flight to safety can be anticipated. Global equities can undergo widespread selling, while the US Dollar and gold can appreciate significantly. The Middle East, a major exporter of fertilisers (such as ammonia and urea), petrochemicals, and industrial metals, will confront secondary supply shocks resulting from a prolonged blockade. For India, this scenario entails a sharp increase in raw material costs just ahead of the critical Kharif sowing season, which will drive up agricultural input costs and pose a threat to food inflation.

By June, topline revenue estimates will finally begin to deteriorate for corporates. This will no longer be solely an issue of margins; companies will encounter volume contractions as consumer demand wanes both globally and domestically. Global central banks, including the US Federal Reserve, will be compelled to abandon any residual expectations of interest rate cuts and may even consider increases to combat wartime-induced inflation.

Further, the Reserve Bank of India, which had previously maintained a stance of &quot;prolonged pause,&quot; may find it necessary to implement defensive rate hikes or enforce stringent liquidity tightening measures to safeguard the Rupee and stabilise inflation expectations. This would likely trigger a broad-based contraction in valuation multiples across Indian equities, including resilient domestic sectors.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Daily Voice: Indian equities could rally into FY27 if Iran conflict ends this month, says Waterfield’s Vipul Bhowar

15 out of 18 years BSE HEALTHCARE has given positive returns in April.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	41,790.31	42,208.99	42,984.42	41,014.88	40,596.20	39,820.77	39,402.09
Fibonacci	41,471.03	41,752.84	42,208.99	41,014.88	40,558.73	40,276.92	39,820.77
Camarilla	41,481.09	41,590.55	41,700.01	41,014.88	41,262.17	41,152.71	41,043.25

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