Markets rebounded mid-week on easing geopolitical concerns and softer oil prices, which helped restore risk appetite. However, volatility persisted, with benchmarks witnessing sharp intraday swings due to fluctuating global cues and macroeconomic pressures. Despite a strong recovery in later sessions led by IT and metal stocks, caution prevailed among investors due to continued FII outflows, rupee weakness, and inflation concerns. Overall, the market remained range-bound with a slightly negative bias during the week.

In the week ended on Friday, 02 April 2025, the S&P BSE Sensex declined 263.67 points or 0.36% to settle at 73,319.55. The Nifty 50 index slipped 106.50 points or 0.47% to settle at 22,713.10. The BSE 150 MidCap Index shed 0.55% to close at 14,567.37. The BSE 250 SmallCap index rose 0.82% at 5,843.57.

Weekly Index Movement:

The domestic equity market fell sharply on Monday, with Sensex and Nifty dropping over 2%, as a combination of global and domestic factors weighed on sentiment. The S&P BSE Sensex tanked 1,635.67 points or 2.22% to 71,947.55. The Nifty 50 index plunged 488.20 points or 2.14% to 22,331.40. In two consecutive sessions, the Sensex declined 4.41% while the Nifty fell 4.18%.

The Indian stock market was closed on Tuesday, 31 March 2026, on accounts of Shri Mahavir Jayanti.

The key equity benchmarks ended sharply higher on Wednesday, snapping a two-day losing streak. The S&P BSE Sensex surged 1,186.77 points or 1.65% to 73,134.32. The Nifty 50 index zoomed 348 points or 1.56% to 22,679.40. In the past two sessions, the Sensex declined 4.41% while the Nifty fell 4.18%.

The key benchmark indices swung sharply on Thursday, snapping back from a steep early sell-off to close modestly higher. The S&P BSE Sensex advanced 185.23 points or 0.25% to 73,319.55. The Nifty 50 index rose 33.70 points or 0.15% to 22,713.10. In the two consecutive trading sessions, the Sensex jumped 1.90% while the Nifty added 1.70%.

The stock market will remain closed on 3 April 2026, on account of Good Friday.

Economy:

India’s Index of Industrial Production (IIP) grew 5.2% year-on-year in February, up from 4.8% in January, according to government data released on 30 March 2026. The rise was led by stronger manufacturing output, while mining and electricity posted moderate growth.

Manufacturing output expanded 6.0% during the month. Mining output rose 3.1%, while electricity generation increased 2.3%.

The HSBC India Manufacturing PMI fell to 53.9 in March 2026 from 56.9 in February, slightly higher than preliminary estimates of 53.8. This marked the weakest improvement in business conditions in nearly four years, as factory output and new orders rose at the slowest pace since mid-2022, weighed down by cost pressures, intense competition, and heightened market uncertainty amid the Middle East conflict.

Monthly Auto Sales:

Mahindra & Mahindra (M&M) added 1.15%. The company reported a 21% increase in production to 99,969 units in March 2026, compared with 82,431 units in March 2025.

Maruti Suzuki India rose 1.96%. The company reported total sales of 225,251 units in March 2026, reflecting nearly 17% YoY growth over 192,984 units in March 2025.

Tata Motors tanked 9.16%. The company’s total commercial vehicle (CV) sales jumped 17% to 47,976 units in March 2026 compared with 41,122 units sold in March 2025.

Eicher Motors slipped 2.35%. The company’s unlisted subsidiary, VE Commercial Vehicles (VECV), reported a 10.1% year-on-year rise in commercial vehicle (CV) sales to 13,311 units in March 2026.

Atul Auto added 1.80%. The company reported a 14.05% rise in total sales to 4,212 units in March 2026, compared with 3,693 units sold in March 2025.

Steel Strips Wheels (SSWL) surged 5.45%. The company reported a net turnover of Rs 520.75 crore for March 2026, marking a 20.07% year-on-year (YoY) increase compared to Rs 433.70 crore recorded in March 2025.

Escorts Kubota added 0.33%. The company’s tractor sales jumped 6.6% to 12,119 units in March 2026 compared with 11,374 tractors sold in March 2025.

SML Mahindra rose 2.74%. The company said that it had sold 2,457 units in March 2026, registering a growth of 6% from 2,315 units sold in the same period last year.

VST Tillers Tractors added 1.41%. The company reported a 37.4% decline in total sales to 4,940 units in March 2026, down from 7,892 units sold in March 2025.

Ashok Leyland tumbled 8.89%. The company reported a 5% jump in total sales (domestic & exports) to 25,381 units in March 2026, compared with 24,060 units sold in March 2025.

Maruti Suzuki India added 1.96%. The company reported 19% increased in total production to 2,31,933 units in March 2026, compared with 1,94,901 units produced in March 2025.

Eicher Motors lost 2.35%. The companny has reported 11% jump in total motorcycle sales to 1,12,334 units in March 2026 from 1,01,021 units in March 2025.

Hero MotoCorp declined 2.55%. The company recorded dispatches of 598,198 units in March 2026, registering an 8.8% year-on-year (YoY) growth compared to 549,604 units in March 2025.

TVS Motor Company slipped 1.70%. The company registered sales of 519,358 units in March 2026, which is 25% higher as compared with the 414,687 units sold in March 2025.

Force Motors rallied 3.40%. The company reported an 13.49% increase in total sales to 4,199 units in March 2026, as against 3,700 units sold in March 2025.

Stocks in Spotlight:

Marico added 1.98%. The company's consolidated revenue grew in the low twenties year-on-year during the quarter, supported by strong volume growth in the domestic business and continued momentum in international markets.

InterGlobe Aviation advanced 2.30%. The company announced the appointment of William Walsh as chief executive officer, subject to regulatory clearance from the Ministry of Civil Aviation. The appointment comes after the departure of former CEO Pieter Elbers, who stepped down on 11 March 2026 following a period marked by operational disruptions, including widespread flight cancellations.

Adani Ports & Special Economic Zone (APSEZ) added 2.79%. The company announced that it has surpassed the landmark milestone of 500 million tonnes of cargo handled.

Dhanlaxmi Bank jumped 7.67%. The company reported 23.96% jump in gross advances to Rs 15,130 crore as of 31 March 2026 as against Rs 12,206 crore as of 31 March 2025.

South Indian Bank rose 2.59%. The company reported 15.66% jump in gross advances to Rs 1,01,295 crore as of 31 March 2026 as against Rs 87,579 crore as of 31 March 2025.

Tamilnad Mercantile bank gained 4.03%. The Bank said that its total advances jumped 20.32% to Rs 53,380 crore as of 31 March 2026, compared with Rs 44,366 crore as of 31 March 2025.

Karnataka Bank shed 0.67%. The company reported a 3.8% rise in aggregate deposits to Rs 108,840.95 crore as on 31 March 2026 from Rs 104,807.49 crore as on 31 March 2025.

Indian Bank shed 0.14%. The company said that its total deposits rose 12.6% to Rs 8.30 lakh crore as of 31 March 2026, compared with Rs 7.37 lakh crore as of 31 March 2025.

Global Markets:

Retail trade in Spain rose 2.2% YoY in February 2026, slowing from a revised 3.8% in January and below expectations. Growth eased across food and non-food segments, while retail sales dipped 0.1% MoM.

Spain’s manufacturing PMI fell to 48.7 in March, indicating contraction. while Germany’s PMI rose to 52.2, signaling expansion.

Switzerland’s inflation rose 0.3% YoY in March 2026, below expectations but higher than February’s 0.1%, marking the highest level since March 2025. The rise was driven by housing and energy costs, while declines in food and transport limited gains. On a monthly basis, CPI increased 0.2%, easing from 0.6% in February, while core inflation remained unchanged at 0.4% YoY.

The Bank of Japan’s Tankan survey showed business sentiment among large manufacturers rising to 17 in Q1 2026 from 15 in the previous quarter, beating expectations of 16 and marking the highest level since Q4 2021.

In China, manufacturing activity moderated, with the PMI easing to 50.8 in March from 52.1 in February and below expectations of 51.6, though still indicating expansion.