INR stays pressured amid elevated oil prices and heavy selling in domestic equities

by Hansraj Agrawal | Mar 6, 2026 | Share Market

Last Updated : Mar 06 2026 | 5:50 PM IST

The Indian rupee stayed range-bound throughout the session on Friday and ended 6 paise lower at 91.70 (provisional) against the US dollar, resisting pressure from elevated crude oil prices and suspected RBI intervention. Heavy selling in domestic equities and withdrawal of foreign funds further dragged the rupee down. Indian shares fell sharply on Friday as the Middle East war unleashed by U.S.-Israeli attacks on Iran swelled outwards to Cyprus, Sri Lanka, Turkey and Azerbaijan, raising concerns about the outlook for trade, prices and investment. Oil prices continued to rise and were set for hefty weekly gains as the furious military operations in the Middle East region entered 7th day.The benchmark BSE Sensex tumbled 1,097 points, or 1.37 percent, to 78,918.90 while the broader NSE Nifty index plummeted 315.45 points, or 1.27 percent, to 24,450.45. However, the depreciation was capped following the US administration’s decision to allow Indian refiners to purchase Russian oil for 30 days, a move to ease pressure on global energy flows amid the ongoing war in West Asia.

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First Published: Mar 06 2026 | 5:50 PM IST

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Quick Wrap: Nifty Private Bank Index falls 2.27%, NIFTY Crashes 1.27%

by Hansraj Agrawal | Mar 6, 2026 | Share Market

Last Updated : Mar 06 2026 | 5:05 PM IST

Nifty Private Bank index closed down 2.27% at 27418.6 today. The index has slipped 5.00% over last one month. Among the constituents, ICICI Bank Ltd dropped 3.26%, Axis Bank Ltd fell 2.47% and HDFC Bank Ltd slipped 2.36%. The Nifty Private Bank index has soared 13.00% over last one year compared to the 8.45% increase in benchmark Nifty 50 index. In other indices, Nifty Bank index has dropped 2.15% and Nifty Financial Services index has slid 2.14% on the day. In broad markets, the Nifty 50 has declined 1.27% to close at 24450.45 while the SENSEX has slid 1.37% to close at 78918.9 today.

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First Published: Mar 06 2026 | 5:05 PM IST

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Nifty March futures trade at premium

by Hansraj Agrawal | Mar 6, 2026 | Share Market

Last Updated : Mar 06 2026 | 4:31 PM IST

India VIX surged 11.32% to 19.88.
The Nifty 30 March 2026 futures closed at 24,565.20 a premium of 114.75 points compared with the Nifty’s closing at 24,450.45 in the cash market.

In the cash market, the Nifty 50 index slumped 315.45 points or 1.27% to 24,450.45.

The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, soared 11.32% to 19.88.

HDFC Bank, Reliance Industries and ICICI Bank were the top-traded individual stock futures contracts in the F&O segment of the NSE.

The March 2026 F&O contracts will expire on 30 March 2026.

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First Published: Mar 06 2026 | 4:31 PM IST

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UltraTech Cement board appoints Jayant Dua as Managing Director (Designate)

by Hansraj Agrawal | Mar 6, 2026 | Share Market

Last Updated : Mar 06 2026 | 3:16 PM IST

At its meeting held on 06 March 2026

The board of UltraTech Cement at its meeting held on 06 March 2026 has approved the appointment of Jayant Dua as Managing Director (Designate) of the Company with effect from 1 April 2026. He will be a Senior Management Personnel from the said date.

The Board also approved Dua’s appointment as Additional Director; Managing Director and Key Managerial Personnel of the Company effective 1 January 2027, upon completion of the term of K. C. Jhanwar as Managing Director on 31 December 2026. Dua’s term as Managing Director would be for 4 (four) years beginning 1 January 2027 to 31 December 2030, subject to approval of the Company’s shareholders.

Dua is a seasoned leader with 37 years of experience. He joined the Aditya Birla Group in 1996 in its Cement Business and spent a decade across functional and business leadership roles. Over the last two decades, he has held multiple P&L and CEO responsibilities, building and
scaling businesses across diverse industries such as Insulators, Insurance, Century Cement and Chlor-Alkali. In 2023, he was elevated as the Business Head – Renewables and Textiles.

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First Published: Mar 06 2026 | 3:16 PM IST

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Reliance Inds gains after RCPL inks MoU with Finland-based Fazer Group

by Hansraj Agrawal | Mar 6, 2026 | Share Market

Reliance Industries advanced 1.67% to Rs 1,413 after the company’s FMCG arm, Reliance Consumer Products (RCPL) has signed a memorandum of understanding (MoU) with Finland’s leading foods company Fazer, to distribute premium chocolates in India.

Fazer is a leading FMCG company in Northern Europe, renowned for its high-quality confectionery, bakery and plant-based products. . In 2025, Fazer Group had net sales of EUR 1,200 million

As part of MoU, the two companies will establish a long-term strategic partnership in India to produce, market, and distribute branded premium chocolates using Fazers recipes and high-quality standards nationwide.

The partnership would combine Fazers iconic heritage brands, innovative product portfolio, and worlds finest chocolates, with RCPLs substantial scale and access to nearly 3 million retail outlets across India, as well as deep expertise in the Indian market.

T. Krishnakumar, director, Reliance Consumer Products, said, Partnering with Fazer is a strategic step towards introducing one of the worlds finest chocolates to Indian consumers. This will also accelerate RCPLs growth in chocolates & confectionary market. By combining Fazers globally trusted brands and manufacturing excellence with RCPLs local production capabilities, robust distribution network, and deep consumer insights, we are well positioned to bring world-class products to Indian consumers and elevate the overall category experience.

Christoph Vitzthum, president and CEO, Fazer, stated, This partnership would be a great opportunity for Fazer to offer our unique products to the fast-growing Indian market. With RCPL handling commercialisation and distribution in India we could establish a premium position in the chocolate market and a foundation for a broader scale nation-wide roll-out with a leading and highly capable local partner. Entering the sizable Indian chocolate market through this strategic partnership, could have the potential to accelerate our international growth significantly.

Reliance Industries is India’s largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.

On a consolidated basis, the conglomerate reported 1.6% rise in net profit to Rs 22,290 crore on 10% increase in gross revenue to Rs 293,829 crore in Q3 FY26 over Q3 FY25.

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Indices trade with significant losses; PSU bank share slide

by Hansraj Agrawal | Mar 6, 2026 | Share Market

The domestic equity benchmarks traded with major losses in the mid- afternoon trade, weighed down by persistent geopolitical tensions in West Asia, rising crude oil prices, and continued foreign fund outflows.

The Nifty traded below the 24,650 mark. PSU Bank shares declined after advancing for previous trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, slumped 624.22 points or 0.78% to 79,392.40. The Nifty 50 index fell 154.30 points or 0.62% to 24,611.60.

In the broader market, the BSE 150 MidCap Index fell 0.43% and the BSE 250 SmallCap Index rose 0.05%.

The market breadth was positive. On the BSE, 2,094 shares rose and 1,993 shares fell. A total of 206 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index fell 0.93% to 9,285.35. The index added 0.49% in the previous trading session.

Bank of Baroda (down 1.44%), Bank of India (down 1.42%), State Bank of India (down 1.36%), Bank of Maharashtra (down 1.18%), Central Bank of India (down 0.95%), Punjab National Bank (down 0.86%), Indian Overseas Bank (down 0.75%), Punjab & Sind Bank (down 0.63%), Canara Bank (down 0.4%) and UCO Bank (down 0.36%) declined.

Numbers to Track:

The yield on India’s 10-year benchmark federal paper added 0.47% to 6.669 compared with previous session close of 6.638.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 91.6700 compared with its close of 91.6450 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement rose 0.38% to Rs 160,277.

The US Dollar Index (DXY), which tracks the greenback’s value against a basket of currencies, was down 0.04% to 99.

The United States 10-year bond yield rose 0.07% to 4.151.

In the commodities market, Brent crude for May 2026 settlement rose 14 cents or 0.16% to $85.55 a barrel.

Stocks in Spotlight:

NMDC rallied 2.17% after the company announced a price hike for Baila Lump iron ore (65.5%, 10-40MM) and Baila Fines (64%, -10 mm), with revised rates effective from 6 March 2026.

Devyani International shed 0.89%. The company informed that Shivashish Pandey has resigned from his position as CEOYum Brands (designated as Senior Management Personnel).

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