Gift Nifty indicates gap-down opening for Sensex, Nifty; IndusInd Bank, Gensol, BEL, NTPC shares in focus

Indian share market is seen opening lower on Tuesday, in sync with global peers, amid growing concerns about impact of U.S. tariffs on global economic growth. The trend at Gift Nifty also indicates a negative start for Sensex and Nifty, with Gift Nifty futures trading 62 points, or 0.29%, lower at 22,429 level, at the time of reporting. In the overnight trade, U.S. stocks sharply lower, while Asian shares fell for a third consecutive session today amid fears of a global trade conflict, while investors awaited further signals to gauge the U.S. Federal Reserve's interest rate stance.

On Monday, the domestic equity market ended marginally lower in choppy session, paring intraday gains as sell-off intensified in final hours of trade amid slide in U.S. stock futures. The benchmark Sensex closed at 74,115, down 217 points or 0.3% and the NSE Nifty settled at 22,460, falling by 92 points or 0.4%. The broader market witnessed significant selling pressure, with the BSE Midcap and Smallcap indices falling by 1.5% and 2.1%, respectively. Among the index heavyweights, Reliance Industries, IndusInd Bank, Trent, ONGC, Eicher Motors, and Bajaj Auto. However, Power Grid Corporation, Hindustan Unilever (HUL), and Infosys were among notable losers.

U.S. stocks slump amid growing fear over economic slowdown

In the overnight trade, Wall Street ended sharply lower as sell-off was triggered after President Donald Trump said the U.S. economy would see short-term turbulence from his trade and fiscal agenda and refused to rule out a recession. Amidst growing concerns about economic growth, all three major U.S. indices witnessed sharp correction, with tech-heavyweight Nasdaq Composite falling 4%, registering its biggest single day fall since September 2022. The Dow Jones Industrial Average and the S&P 500 index declined 2.1% and 2.4%, respectively, posting their worst day in a year.

The U.S. equity market witnessed broad-based selling, with “Magnificent Seven” of tech shares — Google parent Alphabet, Amazon, Apple, Facebook’s parent Meta, Microsoft, Nvidia, and Tesla all slipping in red. Elon Musk-led Tesla shares plunged up to 12% in intraday trade, while AI chipmaker Nvidia declined 5%.

Asian stocks follow Wall Street lower  

Share markets in Asia-Pacific region opened sharply lower on Tuesday, tracking weak closing at Wall Street overnight as fears grow over economic slowdown. Investor sentiment has taken a hit as experts believe that escalating trade war could increase inflation and slow global economic growth. According to Royal bank of Canada, U.S. inflation could increase by 50 basis points by year-end if tariffs are enforced beyond 3 months, expecting inflation to remain over 3%. The rise in inflation could delay rate cut by the Federal Reserve.

Taiwan’s Weighted stock index was the worst performer in the region with a 2% loss, followed by Japan’s Nikkei 225, South Korea’s KOSPI, and Singapore’s Straits Times, which fell in the range of 1.5%-1.8%. Among others, Hong Kong’s Hang Sang dropped 0.6%, China’s Shanghai Composite fell 0.1%, Australia’s ASX 200 dropped 1%, and Indonesia’s Jakarta Composite slipped 0.7%.

Stock to watch

IndusInd Bank: The private lender in an overnight filing disclosed significant discrepancies in its derivative portfolio, resulting in an estimated adverse impact of 2.35% on its net worth. The estimated loss works out to around ₹1,529.90 crore, based on the bank’s net worth of ₹65,102 crore as of December 2024. The bank had clocked a profit of ₹6,628 crore during the nine months of the current fiscal year.

Gensol Engineering: The promoters of the crisis-hit company will inject ₹28.99-crore liquidity in the company, through the conversion of warrants into equity. The warrants will be converted into 4,43,934 equity shares at a price of ₹871 per share, the company said in a statement.

Schneider Electric: The company has reportedly partnered with South Bihar Power Distribution Company (SBPDCL) to improve the state's power distribution network.

NTPC, NTPC Green Energy: The PSU companies have signed multiple agreements worth ₹96,000 crore with the Chhattisgarh government.

Bharat Electronics: The company has bagged orders worth ₹843 crore since March 6, 2025. Major orders include RF seekers, vessel and air traffic management systems, electro-optic repair facilities, radar upgradation, spares, and services.

Indian Railway Finance Corporation: The board of the railway PSU will meet on March 17 to consider the second interim dividend for the financial year 2024-25.

Ashoka Buildcon: The company has received a Letter of Acceptance for a project worth ₹312 crore from Maharashtra State Electricity Transmission Co.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)