Indian equity benchmarks Sensex and Nifty50 are expected to see high volatility on the expiry day of March futures and options (F&O) contracts today, as traders will rush to adjust their positions. Weak global cues amid lingering concerns around the impending April 2 tariff deadline is also expected to trigger heightened market volatility, causing traders to take a cautious approach to their investment decisions. The muted trend in GIFT Nifty Futures also indicated a flat start for domestic equity markets. At 8:20 AM, GIFT Nifty Futures were down 13 points, 0.06%, at 23,517.

On Wednesday, Indian benchmark indices ended their seven-session winning streak and closed lower ahead of the last monthly expiry of the financial year 2024-25. Investors resorted to profit booking at higher levels amid lack of clarity on U.S. tariff policies after recent rally. The BSE Sensex lost 729 points, or 0.93%, to settle at 77,288, and the NSE Nifty ended 182 points, or 0.77%, lower at 23,487 levels. In line with benchmark indices, the broader markets also witnessed profit booking, with the Nifty Midcap100 and Nifty Smallcap100 indices ending down by 0.62% and 1.07%, respectively. 

U.S. stocks halt 3-day rally

In the overnight trade, all three major U.S. indices settled lower, ending three sessions gaining streak, dragged by tech heavyweights Nvidia, Tesla, Apple, and Alphabet. The sentiment was dented amid looming concerns about impact of tariff war on the economy and inflation as April 2 deadline approaches. The sell-off was also triggered following a report that U.S. President Donald Trump is planning to announce tariffs on auto as soon as Wednesday. The S&P 500 slide 1.1%, while the Nasdaq Composite dropped 2%. The Dow Jones Industrial Average dropped 0.3%.

Asian stocks follow Wall Street lower

Tracking weak cues from U.S. market, shares in Asia-Pacific region started the day on weak note, with Japanese, South Korean and Taiwan market falling over 1%. In the early morning trade, Australia’s ASX200 ended 0.5% lower. The uncertainty around the U.S. tariff announcement has dented sentiments, making it difficult for market participants to take risk. Japan’s Nikkei 225, South Korea’s KOSPI, and Taiwan’s Weighted stock index dropped 0.95%, 1%, and 1.3%, respectively. Among others, Indonesia’s Jakarta Composite was down 0.4%. On the other hand, Hong Kong’s Hang Sang and Singapore’s Straits Times rose up to 0.5%, while China’s Shanghai Composite was trading flat with marginal gains.

Stocks to watch

Wipro: The IT major has bagged a 500 million pound order from Phoenix Group, the U.K.'s largest long-term savings and retirement business.

NBCC: The PSU has inked a MoU with Mahatma Phule Renewable Energy and Infrastructure Technology to undertake housing and urban development projects worth ₹25,000 crore in Maharashtra.

Infosys: The country’s second largest software company has reportedly laid off 40–45 more trainees out of the 1,200 engineers it onboarded between October and November.

TVS Supply Chain Solutions: The company has proposed to invest ₹250 crore in its three wholly owned overseas subsidiaries: TVS Logistics Investment UK, TVS Supply Chain Solutions Pte Ltd, Singapore, and TVS Logistics Investments USA Inc, USA.

Torrent Power: The energy company has sold shares of its 10 subsidiaries for ₹474.26 crore to its wholly owned subsidiary, Torrent Green Energy.

Max Financial Services: Promoter Max Ventures Investment Holding is likely to sell up to a 1.59% stake in Max Financial via block deals. The deal size is estimated to be around ₹612 crore at a floor price of ₹1,117.6 per share.

Indian Hotels Company: The Tata group company has infused $9 million as equity in IHOCO BV, its wholly owned subsidiary in the Netherlands.

Bharat Forge: The defence ministry has signed contracts worth ₹6,900 crore with the company and Tata Advanced System for the procurement of 155mm/52 calibre advanced towed artillery gun systems (ATAGS) and high-mobility vehicle 6x6 gun towing vehicles, respectively.

BSE: The board of the company will meet on March 30 to consider the proposal for the issue of bonus shares.

JB Chemicals and Pharmaceuticals: The promoter Tau Investment Holdings Pte is expected to sell a 10.2% stake in the company via block deals.

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