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IT stocks led gains on Tuesday, with shares of Mphasis, Wipro, HCL Technologies and LTIMindtree rising up to 4% on expectations of a better-than-anticipated March quarter. The Nifty IT index climbed around 2.5%, emerging as the top sectoral gainer.

The buying helped the benchmark Nifty recover in afternoon trade after slipping as much as 1% earlier in the session. IT stocks remained resilient even as the broader market stayed under pressure, with analysts pointing to recent corrections that had pushed the sector into oversold territory.

Great Eastern Shipping Company said it has contracted to sell its 2003-built medium range tanker Jag Pankhi, with a capacity of about 46,273 dwt. The vessel is scheduled to be delivered to the buyer in Q1FY27.

Separately, the company has contracted to acquire one secondhand Kamsarmax dry bulk carrier and one secondhand medium range tanker, signalling ongoing fleet optimisation. The stock will be in focus after the update.

Industry experts say SEBI’s decision to allow companies to undertake share buybacks could support market stability and improve liquidity. Bhavesh Shah of Equirus Capital and Pranav Sayta of EY India noted the move may also ensure fairer taxation and introduce stronger safeguards, with cash-rich sectors likely to lead adoption. here

Sectorally, IT stocks led gains with the index rising over 2%, while metal and realty indices also moved higher by more than 1%, reflecting selective buying across cyclicals.

In contrast, PSU banks continued to lag, with the index declining over 1%. Private banks, however, remained largely flat, indicating a mixed trend within the broader financial space.

Gulam Zia, International Partner and Senior Executive Director at Knight Frank, said the real estate slowdown cannot be attributed solely to West Asia tensions, noting the sector is cooling after a 4–5 year bull run. He added that the residential market has been overheated in recent years, with signs of a broader moderation now emerging.

Zia flagged that the Mumbai market could see a definite slowdown over the next one to two quarters, even as developers increasingly offer discounts in the residential segment. Office demand, however, remains steady, with around 29 msf absorbed in Q1CY26, while isolated job cuts have not materially impacted overall market sentiment.

The shares of Blue Star extended their losses further, falling over 18% in the past month.

Gulam Zia, International Partner and Senior Executive Director, Knight Frank

The shares of Tata Group-owned Voltas have fallen close to 3%

The shares of PG Electroplast have fallen by over 16% this month alone as AC demands remain in question.

Tata Steel India produced 23.48 million tonnes of crude steel for the entire year, which was 8% more than the previous year. The ‘G’ blast furnace at Jamshedpur was shut down for relining, which somewhat negated the growth caused by the ramp-up at Kalinganagar.

IT stocks lead the pack, top gainers on Nifty

Renewable energy companies in focus, CERC tightens band & increased penalties for RE generators for deviation from April 1

The markets, after a brief period of gains, are back in the red with marginal losses.

These are the biggest volumes buzzers among the Nifty 500 stocks.

The shares of Alembic Pharma rose by 3% as markets recovered.

Insurers are likely to recommend a reduction in commissions on Bima Sugam by 90% to IRDAI. 90% drop in commissions could lead to 25-30% fall in Term Life premium on Bima Sugam

Sharp recovery in the market: at day’s high, Nifty back above 23,000

Mayuresh Joshi, Director Research, Marketsmith India

On banking space

Mayuresh Joshi, Director Research, Marketsmith India

On banking space

Two weeks ago, L&T reported that 95% of its 100 locations in the Gulf region across all sectors were running normally, while 5% of its sites in West Asia were suspended or experiencing disruptions.

Insurance companies that sell their goods online have been instructed by the Insurance Regulatory and Development Authority of India (IRDAI) to examine their systems and make sure that they adhere to rules designed to reduce “dark patterns” in user interfaces.

A portion of borrowers now get marginal respite thanks to HDFC Bank‘s reduction of its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 5 basis points (bps) on specific short-term tenures. According to material posted on the bank’s website, the updated rates take effect on April 7.

Nearly 25% of the world’s oil shipments are at risk due to disruptions in the Strait of Hormuz, which is shaking supply chains and markets. These three possibilities could determine how the most important energy chokepoint in the world reopens.

With the announcement of the full close of its first special opportunities credit fund at its hard cap of ₹1,500 crore, InCred Alternative Investments now has over ₹4,000 crore in assets under management (AUM) in private credit strategies.

Groww Mutual Fund’s Head of Equity, Anupam Tiwari, anticipates a successful current quarter with no impact from oil shocks thus far, but he warns of concerns starting in the following quarter.

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