Sensex Today | Stock market Highlights: Markets end first day of FY27 on a strong note – Nifty closes above 22,650, Sensex up 1.6%

Markets ended on a firm note, with the Sensex closing at 73,134.32, up 1,186.77 points or 1.65%, while the Nifty settled at 22,679.40, rising 348 points or 1.56%.

The share price of Garden Reach Shipbuilders & Engineers (GRSE) has soared nearly 19% in the intraday session today. The defence PSU reported its highest-ever annual turnover of Rs 6,400 crore for FY26, marking a sharp 26.08% jump from Rs 5,076 crore in FY25.

The defence PSU also announced an interim dividend of 129% of paid-up share capital, higher than 89.5% declared in FY25.

The Nifty India Defence was up more than 5% or 318 points at 7,594

Read More: GRSE shares soar 20%: Record Rs 6,400 crore, massive 129% dividend, and 8 warships delivered

HDFC Banks share price rose by more than 3% to touch an intra-day session over media reports of reappointment of Sashidhar Jagdishan as the MD and CEO of the bank for a third term. The bank's share price opened at Rs 743 and touched an intra-day high of Rs 755.9 while its intra-day low stood at Rs 939.

Over the past five trading sessions the company's stock has declined by more than 2%

Within the Nifty 50 index, 40 stocks extended advances while 10 were trading in red. Share price of Dr Reddy's was down by nearly 3%, while Cipla and Sun Pharm were down around 2%. Nifty Pharma was down by more than 1% or 237 points at 21,994.

IPCA Laboratories was the major looser in the intra-day session with its stock down nearly 5%

Marksans Pharma shares in the intraday surged over 8% after the company announced a regulatory update from the United States.

The company said it has received final approval from the US Food and Drug Administration (USFDA) for its Benzonatate Capsules in 100 mg and 200 mg strengths. This approval is for its abbreviated new drug application (ANDA), allowing the company to market the product in the US.

Marksans Pharma shares in the intraday surged over 8% after the company announced a regulatory update from the United States.

The company said it has received final approval from the US Food and Drug Administration (USFDA) for its Benzonatate Capsules in 100 mg and 200 mg strengths. This approval is for its abbreviated new drug application (ANDA), allowing the company to market the product in the US.

Oil prices slipped below the crucial $100 mark as Trump signalled optimism towards ending the Iranian war. This marks a crucial development as oil prices had been trading over this mark since the past three weeks.

Brent crude fell to the $99 mark, while West Texas Intermediate was quoted around the $97 level. On MCX crude oil futures for April fell by more than 5% trading below Rs 9,100/bbl. Markets will watch out for Trump's address scheduled for 9:00 PM Eastern Time for further cues on oil prices.

Indices saw a strong rally, with the Sensex at 73,797.14, up 1,849.59 points or 2.57%, while the Nifty climbed to 22,822.40, gaining 491 points or 2.20%,

The top gainers at this hour include IndiGo rising over 8%, Adani Ports up nearly 7%, along with gains in Trent, Bharat Electronics and L&T.

It has been a day of smart gains for the market. Speaking on the current market sentiment, S Naren, ED & CIO, ICICI Prudential AMC has said that, “Based on our valuation and sentiment indicators turning more favourable, we believe this is an appropriate time for investors to gradually increase their allocation to equities while continuing to focus on asset allocation strategies."

He was quick to point out "however, unlike 2020, return expectations should be more moderate given the global uncertainties. In such an environment, investors may consider starting SIPs or STPs in diversified and unconstrained equity categories such as flexi-cap, value or business cycle funds, while continuing to use asset allocation funds to navigate volatility. As always, disciplined investing and avoiding extreme positions remains the key.”

Jefferies rates InterGlobe Aviation as 'Buy' with a target price of Rs 6,140, showing a possible 56% increase. The appointment of Willie Walsh as IndiGo's CEO is seen as a positive move, bringing stability, global expertise, and strong management to the company. The report also mentions the company's success in the industry.

Read More: IndiGo  jumps 9%: Jefferies bets on 56% upside as Willie Walsh takes charge

The defence sector stocks are among the top gainers in Defence stocks saw strong buying interest in today’s session, with most companies in the sector trading higher. The Nifty Defence index isup by around 5%.

Among the key movers, Garden Reach Shipbuilders & Engineers led the gains with a sharp rise of over 17%. Cochin Shipyard and Mazagon Dock also moved higher, gaining about 12% and 10% respectively. Other stocks like Mishra Dhatu Nigam, BEML and Bharat Electronics were up in the range of 6–7%, while Paras Defence and Astra Microwave also trading with gains. Hindustan Aeronautics too saw a rise of around 3% in the intraday trade.

Also read: 5 reasons why Defence stocks are rallying as much as 17% today – Nifty Defence Index up 5%

The National Stock Exchange (NSE) today said that it has entered into a partnership with the Indian Gas Exchange (IGX) to introduce new derivative products linked to natural gas prices.

As part of the plan, NSE will roll out exchange-traded contracts that will be based on gas traded and delivered through the IGX platform, bringing more structure to price discovery in the segment.

"These contracts aim to provide a transparent and reliable risk management mechanism for stakeholders across the gas value chain and provide the financial institutions, exchange registered brokers and investors an investment tool to invest in the domestic natural gas market derivatives," said the exchange in its release.

Also read: Bikaji Foods: Why JM Financial sees a 27% upside as company bets beyond Bhujia

The market is seeing a sharp rally in midday trade. The Nifty is holding steady near 22,800 levels and the Sensex is up over 1,400 points. Trent, BEL and IndiGo are among the biggest gainers today.

Mahindra & Mahindra share price in the intraday trade moved higher by nearly 3% in today’s session. This was supported by its March sales performance.

The company reported total sales of 99,969 units for the month, slightly ahead of market expectations, which were pegged around 99,250 units.

On a yearly basis, overall sales grew 21%, indicating steady demand across segments. Passenger vehicle sales were a key driver, rising 25% to 60,272 units compared to 48,048 units in the same period last year.

However, exports showed some weakness, slipping 4% year-on-year to 3,968 units from 4,143 units.

Garden Reach Shipbuilders & Engineers (GRSE) shares surged nearly 20% in today's trade after the company reported a strong provisional update for FY26.

The company posted its highest-ever annual revenue of around Rs 6,400 crore, reflecting a solid 26% growth compared to Rs 5,076 crore reported in the previous year.

As per financialexpress.com data,

Shares of Avenue Supermarts, which operates the D-Mart retail chain, jumped around 7% in early trading today after the company announced expansion plans.

In an exchange filing, the company said it has added 12 new stores in March across multiple states. These include three stores in Maharashtra, two each in Tamil Nadu and Uttar Pradesh, and one each in Odisha, Haryana, and Chhattisgarh.

With this addition, the total store count of the company has now reached 500.

As per financialexpress.com data,

Share price of Sammaan Capital saw a sharp uptick in early trade today, rising around 4% to Rs 156.70 after the company announced a major ownership change.

The NBFC said it has now become part of the IHC Group following a preferential allotment of equity shares and warrants to Abu Dhabi-based IHC through its affiliate, Avenir Investment RSC.

As part of the deal, IHC will acquire a 41.5% stake in the company, effectively becoming the new promoter. The initial tranche of the transaction is valued at Rs 5,652 crore.

The agreement also includes a future investment component, where an additional Rs 3,198 crore will be infused over the next 18 months, subject to the conversion of warrants into fully paid equity shares.

Also Read: Groww, KFin, ICICI AMC: Why Jefferies is betting on 3 AMCs amid new tax regime

The share price of Bharat Coking Coal (BCCL) moved higher in today's trading session, gaining up 5% after the company announced a revision in coal prices.

The company said its committee of functional directors approved the proposal on March 31, with the revised prices coming into effect from April 1, 2026. The change applies to both coking coal and washed coal products.

According to the company, the price revision is linked to the Wholesale Price Index (WPI) and reflects a modest increase of 0.24% over the past year.

The revised pricing will be applicable to supplies under NRS linkage auction tranche VI onwards, as well as for coal sold through the single-window, mode-agnostic e-auction route.

As per financialexpress.com data,

Also read: 5 ‘Buy’ recommendation by Nuvama with up to 60% upside potential

Aviation stocks are in focus today after the government sharply increased Aviation Turbine Fuel (ATF) prices by over 115%, driven by rising tension in West Asia.

From today, April 1, ATF prices in Delhi have jumped to around Rs 2.07 lakh per kilolitre, compared to Rs 96,638 earlier, raising concerns about higher operating costs for airlines.

Following this, airline stocks saw strong buying interest in early trade. IndiGo shares rose over 4% to around Rs 4,119, while SpiceJet also gained nearly 4%.

Also read: Dixon Technologies:  Why Jefferies and Nomura are split on India’s largest EMS firm

The futures and options (F&O) segment is set to see some action from today, April 1, with eight stocks making their debut in the derivatives space. These include Adani Power, Cochin Shipyard, Force Motors, Godfrey Phillips India, Hyundai Motor India, Motilal Oswal Financial Services, Nippon Life India AMC, and Vishal Mega Mart.

The inclusion of these stocks expands the available universe for traders, offering more options for hedging and speculative positions in the derivatives market as the new series begins.

At the same time, while no stock is being removed immediately, HUDCO, Piramal Pharma, Tata Technologies, and Torrent Power are scheduled to exit the F&O segment at the end of the current series.

Also read: Tata Capital, HDB lead India’s biggest IPO year: Rs 1.79 lk cr raised in FY26 even as listing gains plunge

Dalal Street kicked off Wednesday’s session with strong momentum, as the Sensex surged 1,669.88 points (2.32%) to 73,617.43, while the Nifty rallied 525.05 points (2.35%) to 22,856.45.

Shrikant Chouhan, Head Equity Research, Kotak Securities pointed out that, "Based on the current market structure, 22,500/72,500 could pose a significant hurdle for the market in the short-term. Below these levels, the market could soon decline to 22,100/22,000/71,300/71,000. A close below 22,000/71,000 would raise further concerns. However, given the current pattern of sudden price declines in a short period of time, medium- to long-term investors may be tempted to invest in certain stocks.

Above 22,700/73,100, we may see some short covering, which could take the index towards 22,900/73,700 levels. The strategy should be to buy certain stocks between 22,100-22,000/71,300-71,000."

Gold and Silver prices also rose as the dollar index slipped down a bit. The dollar index came back within the 99 range as the news emerged that US will end the war with Iran in the coming two to three weeks. The dollar index had been trading near the record high of 100 over the past few trading sessions.

A soft dollar makes precious metals less expensive for holders of other currencies, thereby aiding demand.

Prices of gold and silver would remain in focus as the US President said that the war with Iran is wrapping up. Spot gold prices in international markets climbed past the $4,700/oz mark while silver was quoted at the $75/oz levels as hopes for the West Asia conflict coming to an end boosted investor sentiment.

Dixon Technologies, a major player in India's electronics manufacturing sector, has received mixed views from different brokerage firms. While Nomura is positive about the company's earnings and government incentives, Jefferies is concerned about the global smartphone market and rising input costs. Both highlight potential risks and opportunities, with Jefferies maintaining a 'Hold' stance and Nomura reiterating their optimism. Read more

The Aquaculture sector's stocks fell the most in Monday’s trade, declining 7% in the market capitalisation. Further, Shipbuilding stocks were followed by the Small Finance sector stocks, which were further followed by the NBFC stocks. However, the Sugar sector stocks rose the most, rising 1.02%.

The rate for 24-carat gold today is Rs 1,50,630 per 10 grams. The price of gold has risen by almost 2.43% from yesterday. The 24 kt gold rate today in Delhi is Rs 1,50,370 per 10 grams. The 18-carat gold price today in India is Rs 1,12,972.5. The 24-carat gold rate in Dubai today is Rs 1,49,590. On COMEX, the precious metal was trading at a price of Rs 4,698.80 an ounce, rising 1.10%. 

The GIFT Nifty is up over 1.6%. This indicates that the markets are set to rally in early trade. The key Nifty level to watch is 23,000. All eyes are on whether the Index can scale past these numbers.

The price of commercial LPG cylinders has hiked by Rs 195.50 on Wednesday, according to a report by Press Trust of India. The price surge came at a time when global oil prices climbed due to the ongoing conflict in West Asia. In Delhi, the price of a 19-kg commercial LPG cylinder has now reached Rs 2,078.50, as per state-run oil companies. In Kolkata, the jump is even higher at Rs 218. The new rates have come into effect from April 1.

Also Read: Commercial LPG Cylinder price hiked by Rs 195.50 in Delhi; Check updated city-wise rates

Energy prices remain elevated as the conflict across West Asia continues. As a result, oil and gas stocks are in focus. International brokerage house Nomura maintained its ‘Buy’ rating on Petronet LNG. The brokerage house set a target price of Rs 340, expecting a lift of 37% from the current market price over the next 12 months. The brokerage firm noted that the company’s stock has corrected significantly and is now trading at or below the replacement cost of new LNG terminals.

Also Read: Petronet LNG: Why Nomura is betting 37% upside on this ‘replacement cost’ bargain