Indian Equity Market Update

Market Outlook

The Indian equity benchmark indices, the BSE Sensex and the Nifty 50, are expected to open on a firm note on Thursday, March 5, 2026, tracking gains across global markets. Indicators from Gift Nifty suggest a positive start for domestic equities, with the index trading near 24,725, a premium of approximately 140 points over the previous close of Nifty futures.

Market Performance

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On Wednesday, March 4, 2026, the Nifty 50 slipped below the 24,500 level, while the Sensex plunged 1,122.66 points, or 1.40%, to settle at 79,116.19. The Nifty 50 dropped 385.20 points, or 1.55%, to close at 24,480.50.

Company Updates

MRF

• The tyre major has secured approval from the Securities and Exchange Board of India (SEBI) to introduce derivative contracts on the BSE Sensex Next 30 Index.
• MRF has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government, pledging to invest ₹5,300 crore over the next 12 years to establish a new tyre manufacturing facility in the state.

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Glenmark Pharmaceuticals

• The company has announced that its subsidiary, Glenmark Speciality SA, has secured final approval from the United States Food and Drug Administration for its fluticasone propionate inhalation aerosol USP, 44 mcg per actuation.

Gujarat Gas

• The company has issued force majeure notices to its industrial clients, curtailing daily contracted gas supplies from March 6, 2026, owing to severely limited availability of regasified LNG (R-LNG) amid the continuing Middle East conflict.

Cyient

• The company has been directed by the National Company Law Tribunal (NCLT), Bengaluru Bench, to commence liquidation proceedings against Infotech HAL Limited, its 50:50 joint venture with Hindustan Aeronautics Limited.

Polycab India

• The company has been served a tax demand of ₹327.5 crore by the Office of the Deputy Commissioner of Income Tax, Mumbai, relating to the Assessment Year 2024–25.

IndiGo

• The airline has cancelled more than 500 flights to the Middle East and other international destinations between February 28 and March 3 due to evolving airspace restrictions over Iran and parts of the Gulf region.

Great Eastern Shipping Company

• The company has agreed to purchase a pre-owned Kamsarmax dry bulk carrier as part of its continued fleet expansion plans.

Ramkay Infrastructure

• The company has entered into an EPC agreement with Maharashtra Industrial Township Limited for carrying out infrastructure development at the Dighi Port Industrial Area (DPIA), Phase 1, Package A.