Sensex Today | Stock Market LIVE Updates: Indian Rupee falls further to 94.71; Nifty falls over 350 pts

Benchmark indices ended sharply lower, snapping a two-day gaining streak, as heavy selling dragged markets deep into the red. The Sensex plunged 1,690 points to close at 73,583, while the Nifty tumbled 487 points to settle at 22,820—both down over 2%. Selling pressure was widespread, with 26 out of 30 Sensex constituents closing in the red.

Market breadth remained decisively weak, with the NSE advance-decline ratio at 1:7, indicating broad-based declines across sectors. All sectoral indices ended lower, led by PSU banks, which bore the brunt of the sell-off. The Nifty Bank index dropped 1,434 points to close at 52,275, while the Midcap index saw steep cuts, falling 1,233 points to end at 54,098.

The government has said retail pump prices of petrol and diesel will remain unchanged, even as oil marketing companies (OMCs) continue to absorb significant under-recoveries.

It added that keeping Indian fuel pumps adequately supplied will take precedence over export opportunities, signalling a clear domestic-first approach amid ongoing volatility in global energy markets.

According to the government, recent excise duty reductions have helped offset around ₹10 per litre of the under-recoveries faced by OMCs. However, companies are still bearing a substantial burden.

The combined daily under-recovery being absorbed by OMCs currently stands at approximately ₹2,400 Cr, underscoring the financial strain despite policy support.

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Brent crude’s March contract rose over 1% after reports indicated that Iran’s Islamic Revolutionary Guard Corps (IRGC) urged civilians to evacuate areas where US forces are deployed. It was trading at $110.5/barrel at 14:50 IST.

The development comes amid rising geopolitical tensions, with Iran’s IRGC reportedly asking civilians to leave locations where US armed forces are stationed, triggering concerns over potential escalation and impacting crude prices.

• Markets Will Stay Impacted Until Hormuz Situation Improves
• RBI Appears To Be Letting The Rupee Absorb Shocks
• Exporters May Sell Ahead Of Fiscal-year-end Book Closure
• RBI Intervention Likely, But At Higher Levels

The Nifty index has slumped to the day’s low as market sell-off intensifies.

To increase coal quality and lessen reliance on imports, Coal India Ltd. (CIL) said on Friday, March 27, that it would invest about ₹3,300 crore to establish eight new coking coal washeries.

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Foreign portfolio investors (FPIs) continue to reduce risk in the world’s fifth-largest market, despite the fact that the most recent sell-off in Indian stocks has reduced the valuation premium that the Nifty 50 commands over its international rivals.

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Sources Say

• Inter-Ministerial Panel Formed Under Defence Minister Rajnath Singh w.r.t West Asia War
• Government Constitutes Panel To Decide On West Asia Policy Measures
• Tax Relief On Some More Items Not Ruled Out
• Finance Minister, Home Minister, Petroleum Minister Among Others Part Of Inter-Ministerial Panel

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The shares of Biocon declined over 2% intraday amid a managerial reshuffle.

The Nifty PSU Bank index has fallen over 15% this month, as the index remained under pressure today as well.

After Novo Nordisk contests the brand similarity, Dr. Reddy’s Laboratories renames their Ozempic generic Olymvic, giving Novo Nordisk an early victory in semaglutide branding.

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The shares of the holding company of the largest Indian airline, IndiGo, declined as fuel prices remain in focus.

• India and Russia discussed resuming LNG trade. India has sought US waiver to buy Russian LNG
• Alert: GAIL is the primary Indian importer of Russian liquefied natural gas (LNG)
• Alert: GAIL has a 20-year supply deal with Gazprom to import 2.5 mtpa

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Rupee extends losses, hits record low of 94.79 against the US Dollar

• Online payments in India may appear slightly different at checkout starting on April 1, 2026. Some users may interpret extra prompts as newly added security measures rather than as a result of mistakes.
• The Reserve Bank of India ordered banks and payment systems to improve authentication for all digital transactions.
• SMS-based OTPs, which have been widely utilised but are increasingly being targeted in fraud instances, are no longer the main emphasis.

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The steep increase in government bond yields, with India’s 10-year yield getting close to 7%, has been the main cause of the downturn. The rise in yields coincides with an increase in the price of crude oil globally, which has reached $105 per barrel.

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The CMD of Prestige Group, Irfan Razack, stated that buyers continue to absorb modest price increases despite cost challenges and expressed optimism that strong home demand will assist the real estate sector in handling rising inflation.

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According to the Ministry of Petroleum and Natural Gas (MoPNG), the government has suggested raising the distribution of non-domestic LPG to 70% of pre-crisis levels to boost industrial operations and reduce supply problems.

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• Coal India | To Set-up 8 New Coking Coal Washeries At An Est Capital Outlay Of ₹3,300 Cr
• Coking Coal Washeries Expected To Be Operational By FY30
• Of 8 New Washeries, 5 To Be In Central Coalfields (14.5 MT/Y)
• 3 Washeries To Be In Bharat Coking Coal Limited (7 MT/Y)

• For ATF Also, We Are Making Sure That The Prices Don’t Go Up
• OMCs Will Be Supported To Bring These Commodities To India

As the market falls steeply, these are some of the Nifty 500 stocks that moved with large volumes.

Despite a sharp decline from record highs, Oracle Financial Services Software’s $100 million perpetual licensing agreement with a US multinational bank boosts OFSS shares.

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With the rupee hitting a historic low of 94.20 per dollar and the 10-year yield approaching the crucial 7% level, India’s bond market is under pressure. Markets are being impacted by rising crude oil prices, ongoing foreign withdrawals, and robust demand for dollars.

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