FOMO To FMA -Markets in Retreat: Global Futures Slide While Oil Defies Gravity

Global Market Futures (as of 05:20 AM IST)
US Market (Futures)

• Nasdaq: -0.69%
• Dow Jones: -0.62%
• S&P 500: -0.60%

European (Futures)

• Ftse 100: -0.97%
• Cac 40: -1.10%
• Dax : -0.91%

Asian

• NIKKEI 225: -0.97% (Futures)
• ASX 200: -1.48%

Gift Nifty: 22769.50 (-0.25%)

FII and DII Trading Activity March 27, 2026 in Cash market:
FIIs / FPIs: Net Sell of ₹4,367.30 crores
DIIs: Net Buy of ₹3,566.15 crores

Commodity Market Updates
International commodity markets displayed a mixed trend, with clear divergence between metals and energy. Precious metals remained weak, as gold traded around 4,444 USD/oz, down over 1%, while silver declined to 68.09, losing more than 2% amid subdued safe-haven demand. Base metals also softened, with copper slipping to 5.4210, reflecting concerns over global industrial activity. In contrast, energy markets strengthened significantly. WTI crude oil rose to 102.56 USD/barrel, while Brent crude climbed to 108.38, both gaining around 3% on supply concerns and an improving demand outlook. Meanwhile, natural gas dropped sharply to 2.957, falling over 4% due to easing supply pressures. Overall, the session highlighted weakness in metals versus resilience in crude oil prices.

Key Corporate Updates:

Positive:

• Bombay Burmah Trading Corporation: Sold Dunsandle Estate tea plantations for ₹1.20 billion, indicating asset monetisation and potential balance sheet support.
• Saatvik Green Energy: Secured solar PV module orders worth about ₹140–144.8 million, reflecting continued order inflow in the renewable energy segment.
• IndusInd Bank: Shareholders approved the appointment of Arijit Basu as Part-Time Chairman, strengthening board oversight and governance continuity.
• G R Infraprojects: Emerged as the lowest bidder for a contract worth ₹14.54 billion, supporting order book visibility.
• RailTel Corporation: Received a new order worth ₹4.44 billion, reinforcing revenue pipeline.
• NHPC: Signed an implementation agreement with Jammu & Kashmir State Power Development Corporation for projects, marking progress on hydro power expansion.
• Vraj Iron and Steel: Received regulatory approval for an induction furnace unit with 153,000 TPA capacity, supporting future capacity addition.
• Schneider Electric Infrastructure: Approved a revised capex plan of ₹1.56 billion for the Vadodara plant, signalling expansion and long-term manufacturing commitment.
• Ceigall India: Won a contract valued at ₹6.03 billion, improving project visibility.
• JNK India: Received a major refinery project order from JNK Global in India worth ₹3–6 billion, strengthening execution pipeline.
• Yogi Ltd: Received purchase orders worth ₹1.02 billion, supporting near-term business momentum.
• Dev Information Technology: Signed an exclusive master distribution agreement with A21 Technologies, which could support business growth and partnership-led expansion.
• BHEL: India relaxed norms to allow BHEL to procure 21 critical equipment items from land-bordering nations, potentially easing project execution constraints.
• Dev Labtech Venture: Approved a bonus issue of equity shares and a stock split of one share into two.

Negative:

• Crompton Greaves Consumer Electricals: Received an income tax demand for AY25 amounting to ₹426.1 million.
• Cummins India: Received a tax demand of ₹623.13 million along with an equivalent penalty, resulting in a total exposure of over ₹1.24 billion.
• Kotak Mahindra Bank: Said it is cooperating with authorities and examining the alleged fixed deposit fraud linked to Panchkula Municipal Corporation, though it maintained there is no material impact.
• SecureKloud Technologies: The company and promoter Suresh Venkatachari remitted penalties of ₹20 million and ₹15 million respectively to SAT.
• Aarti Pharmalabs: US FDA inspected Unit-IV and issued a Form 483 with one observation, which may keep regulatory compliance in focus.
• IRCTC: Received a tax demand of ₹8.2 million.
• Panacea Biotec: The income tax appeals body dismissed its appeal against a ₹93.8 million tax demand.
• Union Bank of India / Central Bank of India / Bank of India / Pine Labs: RBI imposed monetary penalties of ₹9.5 million on Union Bank, ₹6.4 million on Central Bank, ₹5.9 million on Bank of India, and ₹0.31 million on Pine Labs for regulatory non-compliance.
• Jubilant FoodWorks: Received a tax demand and penalty order of ₹153.6 million each, materially increasing the total disputed amount.
• Omax Autos: Confirmed a ransomware attack on its IT infrastructure on March 27, 2026, and said investigation and remedial actions are underway, although core systems and operations remain unaffected.
• NIIT Learning Systems: Received a tax demand of ₹149.3 million.
• ISGEC Heavy Engineering: Its unit received an income tax demand of ₹188 million for FY24.
• Novartis India: Received a tax demand of ₹102.8 million.
• Sagar Cements: Received a tax demand of ₹17.8 million along with applicable interest and penalty.
• Jindal Supreme (India): Withdrew its IPO draft papers filed with SEBI, delaying listing plans.
• Arco Leasing: Narendra Mahavirprasad Ri-Jia resigned as CFO.
• EMA India: Board approved amalgamation with Dynalog India.
• Orient Paper and Industries: Board approved a modification to the capex plan for the Amlai paper plant, including installation of a new advanced-technology tissue machine.
• Innovassynth Technologies (India): Approved a rights issue of equity shares of up to ₹700 million.
• Tata Communications: Issued and allotted commercial paper worth ₹7.50 billion, reflecting routine treasury funding activity.

Neutral / Others

• A K Capital Services: Approved an investment of ₹250 million in A. K. Capital Finance via CCPS, indicating capital support for the subsidiary.
• Biocon: Appointed Shreehas Tambe as CEO & Managing Director effective April 1, 2026, providing leadership clarity.
• SynGene International: Re-designated Kiran Mazumdar-Shaw from Non-Executive Chairperson to Executive Chairperson, appointed Siddharth Mittal as Additional Director and CEO, and noted the resignation of Peter Bains as MD & CEO.
• Power Grid Corporation: Announced commissioning of the transmission system for the Arun-3 (900 MW) hydroelectric project in Nepal, effective September 3, 2023.
• Excelsoft Technologies: Appointed Doreswamy Palaniswamy as CEO.
• Pajson Agro India: Appointed Nitan Garg as CFO, while Ajit Kumar resigned from the CFO role.
• Cura Technologies: Appointed Saraswathi-JLA Sivaramakrishna Mohan Babu as Managing Director for three years, while Sanjana Lagumavarapu resigned as Managing Director.
• P H Capital: Appointed Vijay Solanki as CFO.
• Dredging Corporation of India: Said it is targeting turnover of ₹30 billion over the next 5–10 years.
• Rungta Irrigation: Approved an increase in authorised share capital to ₹400 million.
• EMA India: Board approved amalgamation with Dynalog India.
• Orient Paper and Industries: Board approved a modification to the capex plan for the Amlai paper plant, including installation of a new advanced-technology tissue machine.
• Innovassynth Technologies (India): Approved a rights issue of equity shares of up to ₹700 million.
• Tata Communications: Issued and allotted commercial paper worth ₹7.50 billion, reflecting routine treasury funding activity.

Non-Corporate, Unlisted & Foreign / Macro

1) RBI / Banking System: Revised limits for open positions involving the rupee and directed authorised dealers to ensure NOP-INR compliance by April 10, including a day-end onshore deliverable market cap of US$100 million.
2) RBI / Digital Payments: Said digital payment systems and e-commerce marketplace payments will be examined in detail, and indicated direct regulations could be expanded to cover digital payments entities if required.
3) RBI / Cross-Border Payments: Announced a comprehensive review of the cross-border payments ecosystem to identify regulatory, operational and technological frictions, with the aim of introducing secure tokenisation, transparent card pricing and alignment with global best practices.
4) Government Borrowing Programme: The Government of India revised FY27 gross borrowing through bond sales to ₹16.09 trillion from ₹17.2 trillion, with market borrowing spread across 3-, 5-, 7-, 10-, 15-, 30-, 40- and 50-year securities; ₹8.20 trillion of gross market borrowings is planned for April–September via 26 weekly auctions, along with ₹2.88 trillion of T-bill issuance in the April–June quarter, ₹150 billion of green bonds in April–September, and a Ways and Means Advances limit set at ₹2.5 trillion.
5) Bond Market: India’s 10-year benchmark government bond yield ended at 6.9419% versus 6.8750% previously, reaching its highest level since July 25, 2024.
6) SEBI / Commodity Derivatives: SEBI extended the suspension of derivatives trading in paddy (non-basmati), wheat, channa, crude palm oil, soybean and mustard seeds until March 31, 2027.
7) NSE / Commodity Markets: NSE said dated Brent crude oil futures contracts will be available for trading in the commodity derivatives segment from April 13.
8) India–US Trade: India’s Trade Minister said discussions were held with US Trade Representative Jamieson Greer on next steps in bilateral trade negotiations.
9) Defence Procurement: India’s Defence Acquisition Council approved proposals worth ₹2.38 trillion, including transport aircraft and S-400 surface-to-air missile systems.
10) Fuel Policy / Fiscal Commentary: The Finance Minister said fuel export duty was imposed to prioritise domestic supply, petrol and diesel prices will remain unchanged despite higher global oil prices, efforts will continue to mobilise non-tax revenues, and the government will keep the fiscal stance carefully managed despite the excise duty cut; a tax official added that lowering excise duties on petrol and diesel could result in a revenue loss of ₹70 billion in a fortnight.
11) Urea Imports: India extended urea imports on government account till March 31, 2027.
12) Strait of Hormuz / Shipping Risk: Two Chinese container ships reportedly turned back after attempting to exit the Gulf via the Strait of Hormuz, while an Indian government official said efforts are underway to ensure safe passage of stranded ships.
13) Market Regulator / Enforcement: SEBI issued settlement orders in the matters of SBICAP Trustee Company and insider trading in the scrip of Kaynes Technology India.

Bulk & Block Deals:

Mahanagar Gas
The Washington State Investment Board acquired 6.17 lakh shares in Mahanagar Gas, representing a 0.62% stake. The transaction was valued at Rs 58.7 crore, executed at Rs 950.42 per share, signaling institutional investor interest and confidence in the company’s performance and growth prospects.
Apollo Micro Systems / Cyient DLM
Motilal Oswal Mutual Fund purchased 18.02 lakh shares (0.5% stake) in Apollo Micro Systems for Rs 34.17 crore at Rs 189.58 per share. Simultaneously, it offloaded 5.42 lakh shares (0.68% stake) in Cyient DLM worth Rs 15.1 crore at Rs 278.3 per share.
Arvind SmartSpaces
HDFC Capital Affordable Real Estate Fund-1 divested 4.58 lakh shares (1% stake) in Arvind SmartSpaces for Rs 23.39 crore at Rs 509.99 per share. Meanwhile, ASL ESOP Trust purchased an equal number of shares at nearly the same price, indicating an internal ownership reshuffle.
Cube Highways Trust
Spark Financial Holdings acquired 18 lakh units of Cube Highways Trust from Cube Mobility Investments Pte. The deal was executed at Rs 146 per unit, totaling Rs 26.28 crore, reflecting continued investor participation in infrastructure investment trusts and stable asset-backed opportunities.

IPO Listing

Mainboard
Central Mine Planning & Design Institute (CMPDI)

On-going IPO:
Last Date 30-Mar
-Vivid Electromech Ltd (NSE SME)
Last Date 08-Apr
-Emiac Technologies Ltd (BSE SME)

Upcoming IPO:
NIL

Securities Trading Ex-Dividend on March 30, 2026
TVS Motor Company Ltd 
Securities Trading Ex-Bonus Issue on March 30, 2026
IRB Infrastructure Developers Ltd (1:1), Triton Valves Ltd (3:1)
Securities Trading Ex-Right Issue on March 30, 2026
Gujarat Cotex Ltd
Securities Trading Ex-Interest Payment on March 30, 2026
92GS2030 (Government Securities)
Securities Under F&O Ban on March 30, 2026
SAIL

Source: WOWNEWS24X7, Moneycontrol, Investing.com