Stock Market Live Updates | Gift Nifty Signals Gap-Down Start For Nifty Today
By Bajaj Broking Team
March 04, 2026
3 mins read
Market News
Summary:
Today’s share market’s key developments include: HAL secured a ₹2,901 crore Defence Ministry order, while Godrej Properties won a Kolkata land bid. Ola Electric launched a Holi offer, Natco Pharma introduced a US drug, Mahindra received an Indonesia order, Greenply faced I-T searches, and FIIs remained net sellers.
11:10 AM IST
Stock Market LIVE Update | Sensex falls over 1,400 points | Nifty drops below 24,400
Indian equities witnessed sharp selling pressure, with the Sensex dropping over 1,400 points and the Nifty falling below 24,400. Banking stocks led the decline as Axis Bank, SBI, ICICI Bank, HDFC Bank and Bank of Baroda traded lower, pulling Bank Nifty down more than 2%. Heavyweight losses also dragged the Nifty 50, with Larsen & Toubro, Tata Steel, IndiGo, Shriram Finance and UltraTech Cement among the major laggards. Meanwhile, Coal India and Infosys showed modest gains, while ONGC and TCS traded slightly lower during the session.
10:20 AM IST
Stock Market LIVE Update | Sensex tumbles over 1,450 points | Nifty slips below 24,400
Indian equity markets witnessed sharp selling pressure as the Sensex dropped more than 1,450 points and the Nifty fell below the 24,400 mark. Larsen & Toubro, Tata Steel and InterGlobe Aviation were among the major losers during the session. On the gaining side, Infosys, Tech Mahindra and Bharat Electronics traded modestly higher. Meanwhile, ONGC and Oil India shares rose as crude oil prices climbed above $80 per barrel after renewed tensions between the US, Israel and Iran disrupted shipments from a key oil-producing region.
9:20 AM IST
Stock Market LIVE Update Sensex plunges over 1,450 points | Nifty slips below 24,400 amid global tensions
Indian equity markets declined sharply as the Sensex dropped over 1,450 points and the Nifty slipped below 24,400 amid global uncertainty. Escalating tensions in the Middle East triggered risk aversion, pushing the rupee to a record low of 92.17 against the US dollar. Gujarat Gas fell after reducing industrial gas supply, while Larsen & Toubro declined on Middle East exposure. Petronet LNG also dropped after issuing force majeure notices on LNG shipments. Global markets reacted as well, with Japan’s Nikkei tumbling more than 4% during the session.
9:20 AM IST
Source: Bajaj Broking Research Desk.
GIFT NIFTY: Gift Nifty suggests a gap down opening amid weak global cues. Nifty spot to trade with downward bias in the range of 24,200-24,870.
INDIA VIX: 17.13 | +3.43 (25.01%) ↑ today
In-Depth Market Insights: Global Outlook, Derivatives & More
Other Asset Classes
Treasury Yield:
The US benchmark 10-year Treasury yield rose more than 1 basis point to 4.063%.
Currency:
The dollar index, which measures the greenback against a basket of currencies, rose 0.5% to 98.995.
Commodities:
Gold prices drifted lower on Tuesday, weighed by a stronger dollar and dimming prospects for rate cuts as inflation concerns intensified amid fears of a potentially prolonged Middle East conflict. Spot gold was down 3.6% at $5,137.00 an ounce.
Global benchmark Brent crude gained 4.71% to settle at $81.40. Prices had surged more than 9% earlier on fears the widening war in the Middle East would result in a prolonged disruption to regional oil and gas supplies.
Asian Markets
General Trends:
Asian markets extended their decline with South Korea’s Kospi declined 5% on Wednesday morning trade, extending a steep selloff from the day before when the index recorded its worst day in 19 months, amid an escalating war in the Middle East.
Sector-Specific Indicators:
Japan’s Nikkei 225 lost 1.59%, while the Topix declined 1.61%.
India Market Outlook
Market in the Previous Session:
Indian benchmark indices ended sharply lower on March 2, with the Nifty slipping below the 24,900 marks amid escalating geopolitical tensions between Iran and US, coupled with continued foreign institutional outflows, which weighed on overall market sentiment. Adding to investor concerns, crude oil prices surged nearly 8-9% amid rising geopolitical tensions. Higher crude prices remain a key macro headwind for India, as they may exert pressure on inflation, currency stability, and corporate margins, thereby impacting overall equity market sentiment.
At close, the Sensex declined 1,048.34 points (-1.29%) to settle at 80,238.85, while the Nifty fell 312.95 points (-1.24%) to close at 24,865.70.
On the sectoral front, selling pressure remained broad-based. Nifty Auto, Consumer Durables, Oil & Gas, and Realty indices witnessed notable declines in the range of 1–3%, while most other sectors also ended in the red. Defensive pockets such as Pharma and Metals showed marginal recovery, offering limited support to the market.
The weakness was not confined to frontline indices, as broader markets also faced pressure. The Nifty Midcap index declined nearly 1.5%, while the Small-cap index dropped around 1.75%, highlighting widespread risk reduction across market segments.
TRADE SETUP FOR MAR 04
Nifty Short-Term Outlook:
Index traded with high volatility amid escalating geo-political worries. Nifty started the session gap down below 25,000 levels. Thereafter, traded with high volatility in a 400 points range and closed the session below the 24,900 levels. In the process it formed a bull candle with a lower high and lower low and a bearish gap below its base (25141-24989).
Bias remains down below Monday’s gap down area (25178-24989). In today's session Nifty is opening gap down below last month low (24,571) and is likely test the August 2025 lows of 24337.
A follow through weakness below August low can led to test of the support area of 24,200-24,000.
Volatility is likely to remain elevated amid uncertain global cues and escalating geo-political tension. Immediate bias remain down and trader should use intraday pullback as a selling opportunity.
Intraday Levels:
Nifty: Intraday resistance is at 24,870, followed by the 24,990 levels. Conversely, downside support is located at 24,330, followed by 24,200.
Bank Nifty: Intraday resistance is positioned at 59,840, followed by 60,000, while downside support is found at 58,500, followed by 58,100.
Derivative Market Analysis
Nifty:
Weekly synthetic future is placed near 24,880, indicating the index is anchored at lower levels.
Open interest is up ~5.9%, confirming fresh short build-up.
India VIX is up ~25% at 17.13, indicating heightened volatility.
Highest call writing remains at 26,000, capping broader upside.
Call writers were active at 25,000, 25,500 and 26,000, forming a layered resistance zone.
Put writers have unwound positions between 25,100–25,400 and shifted additions below 25,000, with the highest at 23,500, indicating a sharp downward shift in support.
The option chain reflects weakening higher supports and repositioning at lower strikes, aligning with bearish momentum.
The index is expected to remain under pressure unless it reclaims 25,000, with downside bias intact.
Bank Nifty:
Highest call and put OI is placed at 61,000, making it the key pivot level.
Open interest is up ~8.7%, indicating short build-up.
Both call and put writers have unwound major positions at 61,000 and shifted to 62,000, indicating repositioning higher.
Call writers remain dominant, with additions at 60,000, 60,500 and 61,000, keeping resistance intact.
Put writers have built positions at 59,500, indicating supports are placed lower.
The structure reflects a clear downward shift in positioning, with weak support near spot levels.
The index is likely to remain under pressure and drift towards 60,000.
US Share Market News
Performance Overview:
US market had another wild session on Tuesday as concerns around a prolonged U.S.-Iran conflict rattled markets, though comments from President Donald Trump appeared to somewhat releive the market.
Sector-specific indicator:
The Dow Jones Industrial Average lost 403.51 points, or 0.83%, and ended at 48,501.27. The S&P 500 slipped 0.94% to close at 6,816.63, while the Nasdaq Composite shed 1.02% to settle at 22,516.69. At their lows of the day, the S&P 500 lost 2.5%, and the Nasdaq was down about 2.7%. The 30-stock Dow was down more than 1,200 points, or around 2.6%.
Sentiment has deteriorated on concerns that the conflict in the Middle East is widening, after a U.S. embassy in Saudi Arabian capital Riyadh was hit by Iranian drones as have Amazon data centers in the UAE and Bahrain, as Iran retaliated by launching strikes across several Middle Eastern countries.
Trump said Tuesday afternoon that the U.S. Navy will escort tankers through the Strait of Hormuz, if necessary.
“No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD,” he said in a Truth Social post.
US market recovered some of its intraday decline post the comment from the US president.
Economic indicator:
The inflationary shock from the conflict is a major point of concern for investors, especially as oil prices rose sharply on concerns over supply disruptions. Markets feared that a sustained increase in oil could drive up inflation across the globe and elicit a more hawkish outlook from major central banks.
Heading into Wednesday on the economic data front, traders will be watching the ADP private payrolls report.
Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates and the trade set up for today, in one place to make informed investment decisions.
Published Date :
04 Mar 2026
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Content Partner - Dalal Street Investment Journal Wealth Advisory Private Limited
This article is for educational purposes only and should not be considered investment advice. Market investments are subject to risks. DSIJ Wealth Advisory Private Limited is a SEBI-registered Research Analyst (Reg. No: INH000006396) and Investment Adviser (Reg. No: INA000001142). Please consult your financial adviser before investing.
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