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On Wednesday, March 4, shares of consumer firms Marico Ltd., Godrej Consumer Products Ltd., and Nestle India Ltd. were trading lower as the broking firm Morgan Stanley changed the stocks’ price targets and ratings.

Prashant Khemka, Founder, WhiteOak Capital Group On CNBC-TV18

The shares of Infosys are on the rise even as markets trade low.

The shares of Solar Industries have surged to today’s high.

HDFC Bank is more than 3% off lows; the capital market is almost in the green.

The shares of public-owned RVNL declined to a 52-week low.

MCX recovers in trade, nearly 2% off lows

As the rupee fell precipitously on Wednesday, the Nifty IT index was the sole sectoral indicator in positive territory. On March 4, the local currency fell to a new all-time low of 92.28 versus the US dollar.

As travel and commercial activities in the Middle East are disrupted by the aftermath from the US-Israeli military campaign against Iran, several large technology businesses have changed their operations around the region.

On Wednesday, March 4, Coal India Ltd.’s shares were up more than 2%, despite the company’s February operational performance being mixed. Expectations of higher prices seem to be boosting the stock.

At 13:00 hours, the markets continue to remain in the red.

The Nifty Metal index has fallen by over 4.50%, extending its losses.

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Manish Hathiramani, Deen Dayal Investments

As the Nifty remains over 500 points lower, here are the biggest volume-based movers among Nifty 500 stocks.

The Nifty 100 stocks are down over 2% and 97 of the 100 stocks are down in red.

Gold and silver ETFs dropped sharply on March 4, with ICICI Prudential Silver ETF falling 7.3% and Tata Silver ETF over 7%. Gold ETFs also declined, with ICICI Prudential Gold ETF down nearly 4%.

Major sugar-producing nations like Brazil may decide to switch more to ethanol production rather than sugar if oil prices rise as a result of the US-Iran war.

The shares of IndiGo fell for the 4th straight day as the crisis in the Middle East shows no signs of easing.

According to Dhiraj Nim, Economist & FX Strategist at ANZ Research, sluggish capital inflows had already put pressure on the rupee, and rising oil prices brought on by tensions in the Middle East could hasten the devaluation.

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The shares of Aurobindo Pharma declined over 2%, extending losses.

The shares of HPCL declined as turbulence in West Asia continues to rise.

According to Puneet Chhatwal, CEO of Indian Hotels Company, recent geopolitical unrest has affected travel, more so in Dubai than in India. Travellers who were stranded due to air traffic problems had to remain longer at hotels, and the recovery of international tourism to India might be delayed.

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