| The domestic equity benchmarks traded with modest cuts in early afternoon trade, pressured by escalating tensions in the Iran-Israel-US conflict, persistent selling by foreign institutional investors (FIIs), and a surge in crude oil prices above the $100-per-barrel mark. The heightened geopolitical uncertainty dampened investor sentiment, dragging the Nifty below the 23,750 mark. Private bank stocks remained under pressure, extending their decline for the second consecutive session. At 12:33 ST, the barometer index, the S&P BSE Sensex, dropped 426.41 points or 0.55% to 76,437.30. The Nifty 50 index fell 130.60 points or 0.55% to 23,740.75. The broader market outperformed the frontline indices. The BSE 150 MidCap Index declined 0.13% and the BSE 250 SmallCap Index fell 0.03%. The market breadth was negative. On the BSE, 1,779 shares rose and 2,209 shares fell. A total of 200 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 1.38% to 21.36. The Nifty 30 March 2026 futures were trading at 23,820.10, at a premium of 79.35 points as compared with the spot at 23,740.75. The Nifty option chain for the 30 March 2026 expiry showed a maximum call OI of 52.2 lakh contracts at the 25,000 strike price. Maximum put OI of 53.3 lakh contracts was seen at the 24,000 strike price. Buzzing Index: The Nifty Private Bank index fell 1.12% to 26,184. The index dropped 3.5% in two consecutive trading sessions. IndusInd Bank (down 4.37%), Bandhan Bank (down 2.09%), IDFC First Bank (down 1.71%), ICICI Bank (down 1.61%), Kotak Mahindra Bank (down 1.57%), Axis Bank (down 1.26%), and Yes Bank (down 1.02%) declined. Stocks in Spotlight: Gopal Snacks rose 3.29% after the company said its manufacturing operations remain unaffected despite the ongoing gas supply shortage triggered by recent government restrictions on commercial gas usage. Aarti Industries (AIL) rallied 4.17% after it has entered into a multi-year supply agreement with a top global agrochemical innovator for a critical agrochemical intermediate used in crop-protection formulations. Powered by Capital Market - Live News |