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Trendlyne Marketwatch
06 Mar 2026
Market closes lower on rising crude oil prices and foreign investor outflows
By Trendlyne Analysis

 

Nifty 50 closed at 24,450.45 (-315.5, -1.3%), BSE Sensex closed at 78,918.90 (-1097, -1.4%) while the broader Nifty 500 closed at 22,481.30 (-216.5, -1.0%). Market breadth is in the red. Of the 2,749 stocks traded today, 1,095 were on the uptick, and 1,605 were down.

Indian indices closed lower amid rising crude oil prices and foreign investor outflows. The Indian volatility index, Nifty VIX, rose 11.3% and closed at 19.9 points. Reliance rose after the US Department of the Treasury announced a 30-day waiver allowing Indian refiners to buy Russian oil to help stabilise global energy markets.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty Private Bank and Bank Nifty are among the top index losers today. According to Trendlyne’s sector dashboard, Banking and Finance emerged as the worst-performing sector of the day, with a fall of 1.8%.

Asian indices closed mixed. European indices are trading with varied trends. US index futures are trading lower, indicating a negative start to the trading session. Investors are assessing the conflict in the Middle East, which shows few signs of easing, and await the US Nonfarm Payrolls data scheduled for release today. Brent crude futures are trading higher after rising 4.9% on Thursday.

  • Relative strength index (RSI) indicates that stocks like AWL Agri Business, Coforge and LTIMintree are in the oversold zone.

  • Shares of United Spirits, United Breweries, and Tilaknagar Industries rise after the Government of Karnataka proposes a major overhaul of the state’s excise system. The proposal includes tax rates based on actual alcohol content and deregulation of pricing, meaning the government will no longer fix liquor prices.

  • Keystone Realtors' subsidiary, Keymidtown Developers, enters an agreement with Maharashtra Housing and Area Development Authority (MHADA) to redevelop GTB Nagar in Mumbai. The project has a saleable area of 20.7 lakh sq ft and a gross development value (GDV) of Rs 4,521 crore.

  • Motilal Oswal retains a 'Buy' call on Delhivery, with a target price of Rs 580 per share. This indicates a potential upside of 35.3%. The brokerage believes that the company is well-positioned for revenue and profitability growth, driven by strong momentum in its core transportation businesses and healthy margins in the Express Parcel and part truck load (PTL) segments. It expects the firm to deliver a net profit CAGR of 54% over FY26-28.

  • Indian refiners are rapidly purchasing Russian oil, with millions of barrels already floating in Asian waters, providing a quick solution to the Middle East supply shortage after the US eased trade restrictions. Reports say over 10 million barrels of Russian crude have already been bought. Around 15 million barrels are on tankers in the Arabian Sea and the Bay of Bengal, while ships carrying another 7 million barrels are waiting near Singapore.

  • LG Electronics India reportedly raises air conditioner prices by about 9% for 5-star models and 7% for 3-star models due to higher raw material costs and new energy-efficiency norms. The company is also expanding its range, from premium high-capacity units to smaller sub-one-tonne models for compact homes.

  • Shyam Metalics and Energy is falling as its stainless steel sales decline 3.1% YoY to 8,286 million tonnes (MT) in February. Aluminium foil sales reduce by 13%, while pellet sales jump 30.7%.

  • Rajesh Power Services is rising as its wholly-owned subsidiary, Rajesh Power Projects, signs a battery energy storage purchase agreement with Gujarat Urja Vikas Nigam to develop a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project at Virpore in Gujarat.

  • The Indian government reportedly asks refiners to maximise liquefied petroleum gas production and supply the fuel only to three state-run firms — Indian Oil, HPCL and BPCL. It has also directed refiners to avoid using propane and butane for petrochemical production and instructs public sector companies to sell LPG only to domestic customers.

  • Ircon International surges over 10% as the Ministry of Railways is reportedly considering its merger with Rail Vikas Nigam.

  • Geojit BNP Paribas upgrades Dilip Buildcon to an 'Accumulate' call from 'Sell', with a higher target price of Rs 478 crore. This indicates a potential upside of Rs 6.4%. The brokerage believes the company's diversified order book provides revenue visibility for the long-term; however, muted order wins in the core road sector, rising debt, and subdued progress in execution will affect near-term performance. It expects the firm to deliver a revenue CAGR of 4.6% over FY26-28.

  • Reliance Industries rises after Scott Bessent, Secretary of the United States Department of the Treasury, announces a temporary 30-day waiver allowing Indian refiners to purchase Russian oil. The move aims to help stabilise global energy markets amid rising tensions in the Middle East.

  • India’s IPO market has slowed in early 2026 as companies delay launches due to cautious investor sentiment, weaker listing gains, and geopolitical tensions. According to Prime Database, over 190 companies are either approved or awaiting approval to launch IPOs, with a potential fundraising pipeline exceeding Rs 2.5 lakh crore. About 88 companies have approval to raise Rs 1.2 lakh crore, while over 100 others await clearance for issues worth around Rs 1.4 lakh crore.

  • Jio Financial Services invests Rs 147.5 crore in its joint venture (JV), Allianz Jio Reinsurance, by subscribing to 14.7 crore equity shares.

  • MOIL is rising as it revises manganese ore prices from March 1. The company raises ferro-grade, lower-grade silico manganese ore (SMGR, around 30% manganese) and chemical grades prices by 2%.

  • Petronet LNG receives a force majeure notice from its liquefied natural gas (LNG) supplier, QatarEnergy. Subsequently, the company issues force majeure notices to its customers, including Bharat Petroleum Corp, GAIL (India) and Indian Oil Corp.

  • The US’s 30-day waiver allowing Indian refiners to continue buying Russian oil offers near-term relief to India’s crude supply. However, analytics firm Kpler says the move does little to reduce the country’s reliance on Middle Eastern flows, with nearly 50% of imports passing through the Strait of Hormuz. It adds that competition from China for the same barrels could limit India’s benefits.

  • PB Fintech is falling as 48.4 lakh shares (~1.1% stake), worth Rs 695 crore, reportedly change hands in a block deal. Tencent Cloud is likely the seller in the transaction.

  • Fractal Analytics is rising sharply as its Q3FY26 net profit jumps 10.6% YoY to Rs 102.6 crore, driven by lower employee benefits expenses. Revenue grows 17.1% to Rs 856.1 crore, supported by improvements in Fractal.ai and Fractal Alpha platforms. It features in a screener of stocks with rising net cash flow and cash from operating activities.

  • Shilpa Medicare is rising as it receives approval from the National Company Law Tribunal (NCLT) to merge its subsidiary, Shilpa Therapeutics, with itself.

  • The Enforcement Directorate conducts searches at multiple locations in Mumbai and Hyderabad as part of an investigation involving Reliance Power and companies linked to Anil Ambani. The probe relates to an alleged bank fraud-linked money laundering case and financial irregularities under the Foreign Exchange Management Act (FEMA). The agency has filed three money laundering cases against the Anil Dhirubhai Ambani Group over alleged bank loan fraud and related financial irregularities.

  • HDFC Mutual Fund acquires 2.4 lakh shares in Amber Enterprises worth Rs 185 crore through a bulk deal at an average price of Rs 7,650 per share.

  • Garden Reach Shipbuilders is rising sharply as it signs a memorandum of understanding (MoU) with Kalyani Strategic Systems to jointly develop advanced naval systems, unmanned platforms and maritime capabilities.

  • Angel One is rising as its average daily turnover (ADTO) soars 88.4% YoY in February. Its gross client acquisition jumps 17.8% to 5.7 lakh during the month. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Valor Estate to acquire a 49% stake in Bamboo Hotel and Global Centre for Rs 596.7 crore to strengthen its presence in the hospitality sector following the recent demerger of its other hotel assets into Advent Hotels.

  • Nifty 50 was trading at 24,594.40 (-171.5, -0.7%), BSE Sensex was trading at 79,658.99 (-356.9, -0.5%), while the broader Nifty 500 was trading at 22,592.70 (-105.1, -0.5%).

  • Market breadth is neutral. Of the 2,151 stocks traded today, 1,004 showed gains, and 1,071 showed losses.

Riding High:

Largecap and midcap gainers today include United Breweries Ltd. (1,758.20, 6.6%), Mazagon Dock Shipbuilders Ltd. (2,471.90, 5.1%) and United Spirits Ltd. (1,389.80, 4.8%).

Downers:

Largecap and midcap losers today include Godrej Properties Ltd. (1,667.30, -4.4%), Ashok Leyland Ltd. (194.67, -4.1%) and Info Edge (India) Ltd. (980.10, -3.5%).

Crowd Puller Stocks

17 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Jupiter Wagons Ltd. (298.60, 17.2%), Kirloskar Brothers Ltd. (1,645.70, 10.2%) and Ircon International Ltd. (146.95, 9.9%).

Top high volume losers on BSE were LT Foods Ltd. (393.50, -8.5%) and Cohance Lifesciences Ltd. (279.90, -4.1%).

United Breweries Ltd. (1,758.20, 6.6%) was trading at 11.9 times of weekly average. Honeywell Automation India Ltd. (29,965, 0.1%) and Radico Khaitan Ltd. (2,766.90, 7.8%) were trading with volumes 8.2 and 7.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

10 stocks took off, crossing 52 week highs, while 15 stocks hit their 52 week lows.

Stocks touching their year highs included - Astral Ltd. (1,689.20, 1.6%), Bharat Electronics Ltd. (468.45, 1.8%) and Bharat Forge Ltd. (1,923.90, 1.3%).

Stocks making new 52 weeks lows included - ACC Ltd. (1,501.20, -1.5%) and Ambuja Cements Ltd. (466.75, -2.8%).

13 stocks climbed above their 200 day SMA including United Spirits Ltd. (1,389.80, 4.8%) and CG Power and Industrial Solutions Ltd. (715.45, 2.1%). 8 stocks slipped below their 200 SMA including LT Foods Ltd. (393.50, -8.5%) and India Cements Ltd. (382, -2.9%).

 
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