FOMO To FMA - From Wall Street Weakness to Asian Strength - Markets Paint a Fragmented Picture

Global Market Futures (as of 05.45 AM IST)

US Market (Futures)
Nasdaq: -0.26%
Dow Jones: -0.40%
S&P 500: -0.32%

European (Futures)
Ftse 100: +0.78%
Cac 40: -0.24%
Dax: -0.72%

Asian
NIKKEI 225: +0.81%
KOSPI: +2.12%
ASX 200: -1.31% (Futures)
Gift Nifty: 22540.00 (-0.73%)

Note: UK Markets, several European markets, and Australia are observing a trading holiday today on account of Easter. China and Hong Kong markets are closed for the Ching Ming Festival.

FII and DII Trading Activity April 2, 2026 in Cash Market
FIIs / FPIs: Net Sell of ₹9,931.13 crores
DIIs: Net Buy of ₹7,208.41 crores

Commodity Market Updates
International commodity markets are showing mixed performance, with energy prices strengthening while metals remain under pressure. Gold is trading around 4,650.82, down 0.62%, while XAU/USD stands near 4,625.21, declining 1.10%. Silver is at 72.508 (-0.57%) and copper at 5.6535 (-0.49%), reflecting subdued industrial and investment demand.

On the energy front, WTI crude is up at 112.99 (+1.30%) and Brent at 111.07 (+1.87%), supported by supply-side concerns. Natural gas trades at 2.838 (+1.10%), while gasoline is slightly higher at 3.2976. Dutch TTF gas remains stable at 50.044, whereas London Gas Oil surged to 1,564.13 (+5.56%). Overall, energy strength contrasts with continued weakness in metals.

Key Corporate Updates:

Positive:

• Bajaj Finance: Q4 FY26 remained strong, with new loans booked up 20.5% YoY and AUM rising 22% as of March 31, 2026, indicating sustained retail credit momentum.
  Bajaj Housing Finance: Q4 gross disbursements stood at about ₹175.3 billion, while AUM grew 23% YoY as of March 31, 2026, reflecting healthy mortgage demand and balance sheet expansion.
  L&T Finance: Q4 retail disbursements increased 62% YoY, highlighting strong execution and retail growth traction.
• Avenue Supermarts (DMart): Revenue from operations for the quarter ended March 31, 2026 came in at ₹172.05 billion, indicating steady consumption-led growth.
• IDFC First Bank: Customer deposits grew 17.2% YoY and loans & advances also increased YoY as of March 31, 2026, supporting continued franchise expansion.
• RBL Bank: Gross advances rose 22% YoY and total deposits increased 25% YoY as of March 31, 2026; additionally, RBI has no objection to Emirates NBD becoming promoter, with approval to acquire up to 74%, a major structural positive for the bank.
• Punjab National Bank: Global deposits rose 9.3% YoY and global advances increased 12.17% YoY as of March 31, 2026, indicating broad-based balance sheet growth.
• Bank of India: Global deposits were up 13.58% YoY and gross advances rose 15.69% YoY at March-end, reflecting healthy business momentum.
• Punjab & Sind Bank: Total deposits increased 12.37% YoY and gross advances rose 18.39% as of March 31, 2026, pointing to strong business growth.
• Central Bank of India: Q4 FY26 gross advances stood at ₹3.45 trillion, up 18.90% YoY, supporting improving credit growth trends.
• CSB Bank: Total deposits reached ₹442.46 billion and gross advances stood at ₹403.64 billion as of March 31, both up YoY, indicating continued business expansion.
• Capital Small Finance Bank: Total deposits rose 20.4% YoY to ₹100.18 billion and gross advances increased 20.9% YoY to ₹86.87 billion as of March 31, 2026.
• Suryoday Small Finance Bank: Total deposits stood at ₹139.58 billion and gross advances at ₹132.01 billion as of March 31, 2026, both up YoY.
• Jammu & Kashmir Bank: Total deposits grew 11.3% YoY and gross advances rose 16.83% as of March 31, 2026.
• HDFC Bank: The Bank reported steady growth across key metrics in Q4. Average advances rose 10% to ₹29.64 lakh crore, while gross advances increased 12% to ₹29.60 lakh crore. Deposit growth remained strong, with period-end deposits up 14.4% and average deposits rising 12.8%, reflecting healthy business momentum and strong customer inflows.
• Axis Bank: Delivered robust YoY growth in Q4, driven by strong credit expansion. Gross advances grew 18.4% to ₹12.44 lakh crore. Deposits increased 13.9%, supported by a 10.6% rise in CASA and a strong 16.1% surge in term deposits, indicating balanced liability growth alongside improving asset traction.
• Kotak Mahindra Bank: Posted solid Q4 performance with consistent growth in advances and deposits. Net advances rose 16.2% both on a period-end and average basis. Total deposits grew nearly 15%, reflecting stable funding growth and sustained business expansion, supported by a steady increase in both average and end-of-period balances.
• Metropolis Healthcare: The Company posted strong Q4 growth driven by broad-based demand. Revenue increased 23%, led by a 30% rise in B2B and 19% growth in B2C segments. Specialty segments performed well, with TruHealth and Wellness growing 25% and 29%, respectively, highlighting diversification and strength in high-value diagnostics services.
• Vedanta: Operational update was strong, with Q4 aluminium production up 2%, zinc India mined metal production up 2% YoY, steel saleable production up 9% QoQ, and record annual alumina and aluminium production at 2,916 KT and 2,456 KT respectively.
• NALCO: FY26 broke all previous records in both production and sales, with total alumina sales reaching 1.4 million tonnes, reinforcing strong operating performance.
• Hindustan Zinc: Reported record quarterly refined metal production of 282 KT in Q4 FY26, up 5%, alongside higher silver production.
• Hindustan Copper: FY26 ore production rose 6% YoY to 3.67 million tonnes, while metal-in-concentrate production increased 9% YoY to 27,421 tonnes.
• Adani Ports: APSEZ handled its highest-ever monthly cargo volume of 46 MMT in March 2026, crossed the 500 MMT cargo milestone in FY26, and Haifa Port delivered 0.77 MMT in March, underscoring strong port throughput.
• Adani Power: Received Letter of Award from MSEDCL for 2,500 MW renewable energy round-the-clock power supply for 25 years, a major long-term capacity and revenue visibility positive.
• Kernex Microsystems: Secured an order worth ₹911.2 million, strengthening its order book.
• Vikran Engineering: Won orders worth ₹5.31 billion for distribution infrastructure in Maharashtra, materially boosting project visibility.
• Rail Vikas Nigam: Received an order worth ₹2.42 billion, supporting revenue pipeline.
• G R Infraprojects: Emerged successful in a project with bid cost of ₹18.98 billion, a significant order inflow positive.
• Jash Engineering: Announced a deal worth €550,000 and its subsidiary will acquire 100% of Penstocks (I-JK) Ltd, strengthening both order inflow and inorganic growth.
• JK Lakshmi Cement: Declared preferred bidder for the Chhipta limestone block in Madhya Pradesh, improving long-term raw material security.
• Dabur: Guided for mid-single-digit consolidated revenue growth with operating profit growing ahead of topline; India FMCG business saw sequential recovery, home and personal care is likely to grow in the mid-teens, and management expects progressive domestic demand recovery.
• Sobha: Q4 sales value stood at ₹20.39 billion, signaling continued housing demand.
• Bajaj Auto: March total sales rose to 445,377 units, including 380,473 two-wheelers, indicating sustained volume momentum.
• Cipla: Expanded its US respiratory portfolio with approval for Nintedanib capsules in 100mg and 150mg strengths for idiopathic pulmonary fibrosis.
• Zensar Technologies: Will set up a new entity/branch in Qatar, supporting international expansion.
• Krishna Institute of Medical Sciences: Unit entered a 20-year operations and management agreement with Avitis Super Speciality Hospitals, supporting long-duration revenue visibility.
• Apollo Hospitals: Approved establishment of a multi-speciality hospital at Dwarka, New Delhi, with a 55-year land license period and annual license fee of ₹333 million from the fifth year, expanding capacity in a key market.
• Monarch Networth Capital: Received SEBI approval to sponsor a mutual fund, opening a new business vertical.
• KFin Technologies: PFRDA granted the company a perpetual certificate as Central Recordkeeping Agency under NPS, a significant regulatory and franchise positive.
• Concord Biotech: Invested in Cellimmune Biotech for DNA engineering cancer research, strengthening innovation and strategic research exposure.
• Emami: Agreed to acquire 100% stake in Axiom Ayurveda for consideration not exceeding ₹2 billion; acquisition is expected to close within three months and Axiom appointed Harkirat Bedi as CEO, marking a strategic healthcare/wellness expansion.
• Chandan Healthcare: Acquired Nishkam Imaging in New Delhi, supporting network expansion.
• Global Pet Industries: Announced investment in advanced mould manufacturing machinery, which should aid capacity and product capability enhancement.
• Godawari Power and Ispat: Received consent to operate a 6.91 MW waste heat recovery-based power plant, improving energy efficiency and sustainability profile.
• AAA Technologies: Received a ₹5.7 million work order from NICSI.
• Meta Infotech: Secured a renewal order worth ₹214.3 million for mobile app security.
• Zenith Drugs: Won an order valued at ₹29 million.
• 31 Infotech: Received an order worth about ₹16.3 million.
• Airfloa Rail Technology: Secured an order worth ₹12.3 million from Integral Coach Factory.
• B D Industries (Pune): Received a domestic contract worth ₹100.8 million including tax.
• United Heat Transfer: Won a purchase order valued at ₹7.9 million.
• Matrix Geo Solutions: Received an order worth ₹51.4 million.
• Happy Square Outsourcing Services: Secured an order worth ₹1.22 million.
• Suntech Infra Solutions: Received a work order from Linde Engineering India.
• SoftTech Engineers: Launched India’s first TDR trading exchange platform, e-TDR, and enabled digital contracts with IGR-integrated stamp duty payments, strengthening proptech and civic-tech positioning.
• Zaggle Prepaid Ocean Services: Invested ₹500 million in Rivpe Technology Private Limited, signaling continued capital deployment into strategic opportunities.
• Maruti Suzuki: Dzire was named India’s best-selling car in fiscal 2026, reinforcing brand and product leadership.
• LG Electronics India: Crossed 1 million AC sales in Q1 CY26, indicating strong seasonal demand and market traction.
• Sarda Energy & Minerals: Approved acquisition of majority stake in a hydropower company with a 66 MW project at an enterprise value of ₹250 million, expanding clean energy exposure.
• GPT Infraprojects: Arbitration award was declared in favour of GPT-SMC JV, entitling it to receive ₹38.9 million from Kolkata Municipal Corporation.
• S H Kelkar: Inventory levels were reduced while maintaining adequate coverage for impacted commodities, reflecting improved working capital discipline.
• Kothari Industrial Corp: Received amendment to service contract from Integral Coach Factory, raising total contract value to ₹63.3 million and extending period to July 24, 2026.
• Texmaco Rail & Engineering: Received an order worth ₹9.3 million.
  
  Negative:

• Tata Steel: Received a demand notice of about ₹17.55 billion over alleged excess coal mining; management said the demand lacks substantive basis and will pursue legal remedies, but the development remains an overhang.
• Fujiyama Power Systems: BIS initiated search and seizure at its Noida facility on March 24 and seized products worth ₹25.2 million; while the company said there is no material operational or financial impact, the regulatory action is sentimentally negative.
• Zaggle Prepaid Ocean Services: Decided not to proceed with the Effiasoft acquisition, indicating a dropped inorganic opportunity.
• Bharat Coking Coal: Coal mining and dispatch work in the ABOCP mine under Block-II was illegally stopped by unorganised persons, creating operational disruption risk.
• Dabur: International business is expected to post low-single-digit growth in INR terms, while its Middle East business was impacted by the US-Israel-Iran conflict.
• Highway Infrastructure: NHAI imposed a penalty of ₹2.6 million on the company for withdrawing from the contract to operate the Venkatapalem Fee Plaza in Andhra Pradesh.
• Matrimony.com: Received tax demand totaling ₹102.3 million, creating a financial and litigation overhang.
• Thermax: Received a tax demand order worth ₹15.2 million plus applicable interest.
• Capacite Infraprojects: Received an order upholding GST demand on April 2, 2026, which is adverse from a tax dispute perspective.
• Hariom Pipe Industries: Received TNPCB directions for temporary closure of its Tamil Nadu unit; the company said operations will continue through its Telangana unit, but the plant shutdown is negative.
• Tata Motors / JLR: JLR Q4 FY26 retail sales fell 14.3% YoY to 92,700 units and wholesales were down 14.5% YoY to 95,300 units; full-year volumes were impacted by US tariffs, China market challenges, planned wind-down of legacy JLR models, and production stoppages despite some recovery after the cyber incident.
• Sundaram Brake Linings: A fire occurred at Plant II in Tamil Nadu on April 2, causing estimated damage of ₹26.6 million; affected operations will be temporarily shut, though no casualties or injuries were reported.
• MTNL: Due to insufficient funds, the company could not fund the escrow account maintained with Bank of India, highlighting ongoing financial stress.
• Omax Autos: Reported a cybersecurity incident involving a ransomware attack last month; while critical systems have been restored and no sensitive data or material operational impact has been reported, the incident itself is negative.
  
  Neutral / Others
  
  Mahindra & Mahindra: Announced price increases of up to 2.5% for ICE SUV and CV range, with an average hike of 1.6%, driven by cost escalation; positive for margins but may weigh on demand sensitivity.
  Escorts Kubota: Will increase tractor prices effective April 15, 2026, which may support margins but could affect affordability at the margin.
  Astra Microwave Products: S. Gurunatha Reddy will step down as Managing Director effective September 30, 2026, and continue as Executive Director thereafter, indicating planned leadership transition.
  Zaggle Prepaid Ocean Services: Appointed Rajesh Tummalaganti as Interim CFO.
  Senores Pharmaceuticals: Announced a strategic joint venture in the United States.
  Filatex Fashions: Approved issuance of FCCBs up to $100 million, indicating prospective fundraising.
  Mani Finance: Dharmendra Agrawal resigned as Whole-Time Director and CEO effective April 3, 2026.
  Borosil: Production operations at Jaipur furnaces have been fully restored and are now operating at normal capacity.
  Mazagon Dock: INS Taragiri was formally commissioned into the Indian Navy, relevant from an execution and defence sector perspective.
  Shivalic Power Control: Prince Gupta resigned as CFO effective May 1, 2026.
  Bharat Agri Fert & Realty: Chandni Yogendra Patel was appointed CFO, while Vijal Yogendra Patel resigned as CFO and was redesignated as Chairman & MD.
  Satani Bearings: Approved fundraising of up to ₹500 million via rights issue and increase in authorised share capital to ₹350 million.
  Cupid: Deployed ₹828.8 million as strategic investment into Baazar Style Retail.
  HDFC Bank: Will consider issuance for financing infrastructure sub-sectors over the next twelve months and also consider issuance of perpetual debt instruments.
  Varvee Global: Jignesh Parmar resigned as CFO effective April 30, 2026.
  Asian Warehousing: Vivek Ambawale resigned as CFO effective April 2, 2026.
  Allied Blenders and Distillers: Appointed Amar Sinha as Managing Director Designate effective April 2, 2026.
  ABFRL: Announced resignation, though details were not specified in the provided update.
  PAE: Board meeting scheduled for April 9, 2026 for stated agenda items.
  F MEC International Financial Services: Board will consider bonus shares, subdivision/split of equity shares, and issuance of secured unlisted NCDs on private placement.
  Supra Pacific Financial Services: Approved issue of 200,000 secured, unrated, unlisted NCDs aggregating ₹200 million on private placement.
  Indian Bank: One-year MCLR remained unchanged.
  VBL: Change in directors/KMP/auditor/compliance personnel was disclosed, though specifics were not provided in the source line
  
  
  Non-Corporate, Unlisted & Foreign / Macro
  
  1) India Petroleum Ministry: Said India’s crude oil requirements remain fully secured for the coming months, and refiners have secured crude requirements, including from Iran, with no payment hurdle indicated for Iranian crude imports.
  2) RBI / Forex Reserves: India’s forex reserves fell to $688.06 billion on March 27 from $698.35 billion in the previous week.
• 3) RBI / Federal Government: RBI said the federal government had no outstanding loans with it as on March 27.
  4) RBI / State Borrowings: Indian states are likely to borrow ₹2.55 trillion in the April–June quarter.
  5) India Government / Aviation Fuel: Government imposed a cap on monthly increases in jet fuel prices for domestic flights.
  6) India Government / T-Bills: India will auction ₹240 billion of T-bills on April 8, comprising ₹120 billion of 91-day, ₹60 billion of 182-day, and ₹60 billion of 364-day treasury bills.
  7) Government of India FRB 2028: Interest rate applicable for the half-year from April 4 to October 3 has been set at 6.17% per annum.
  8) SEBI / Buyback Framework: SEBI proposed re-introduction of open market buybacks through stock exchanges, while under the new taxation framework public shareholders tendering in buybacks would be taxed on actual capital gains.
  9) RBI / Money Changing: RBI issued memorandum of instructions governing money changing activities related to forex counter locations in international airports in India.
  10) RBI / Cooperative Banks: RBI issued/extended directions under the Banking Regulation Act for specified cooperative banks, including Samarth Urban Cooperative Bank and Industrial Cooperative Bank-related matters.
  11) Government / Bond Market: India’s 10-year benchmark government bond yield ended at 7.1329% versus previous close of 7.0345%.
  12) India Foreign Ministry / Energy Diplomacy: India is attending a UK-led meeting on the Strait of Hormuz; Maldives has sought short-term and long-term fuel supply support; India continues fuel supplies to Sri Lanka, Nepal, Bhutan, and Bangladesh.
  13) India Government / Russia: Russia’s First Deputy PM Denis Manturov called on PM Modi and briefed him on progress in trade, fertilizers, connectivity, and people-to-people ties.
  14) IRDAI: Domestic Systemically Important Insurers list/update was released on April 2, 2026.
  15) India Government / Trade: Reports indicated India may cut import duties and curb exports to ensure local supplies.
  16) India Government / Agriculture: Duty-free imports of yellow peas have been extended until March 31, 2027, which is supportive for domestic supply management and inflation control but may pressure local growers.
  17) Malaysia Palm Oil Sector: Reuters poll indicated March palm oil exports may rise 38.3% MoM to 1.56 million metric tonnes, crude palm oil output may rise 4% MoM to 1.34 million metric tonnes, while end-stocks are expected to fall 19.2% to 2.18 million metric tonnes.
  18) Russia / India Trade: Bilateral discussions between India and Russia covered trade, fertilizers, connectivity, and people-to-people ties, relevant for sectors exposed to cross-border commodity and logistics flows.
  
  

  Bulk & Block Deals:

  
  

  Latent View Analytics

  Societe Generale acquired a 0.5% stake (10.74 lakh shares) in Latent View Analytics for ₹31.2 crore at ₹290.69 per share. The deal signals institutional confidence in the company’s growth prospects and strengthens foreign investor participation in the analytics-driven business.

  AVG Logistics

  India Emerging Giants Fund, backed by Blue Lotus Capital, sold a 1.08% stake (1.63 lakh shares) in AVG Logistics for ₹2.1 crore at ₹129.24 per share. Blue Lotus Capital Multi Bagger Fund II held a 1.3% stake as of December 2025.

  
  

  On-going IPO:

  Last Date 08-Apr

  -Emiac Technologies Ltd (BSE SME)

  -Safety controls & Devices Ltd (BSE SME)

  
  

  Upcoming IPO:

  NIL

  
  

  Securities Trading Ex-Dividend on April 6, 2026

  Unifinz Capital India Ltd

  Securities Trading Ex-Amalgamation on April 6, 2026

  Sanghi Industries Ltd 

  Securities Under F&O Ban on April 6, 2026

  NIL

  
  

  Source: WOWNEWS24X7, Moneycontrol, Investing.com