Indices trade with minor cuts; European mrkt advance

The key domestic benchmarks traded near flat line in afternoon trade as investors remained cautious amid escalating tensions in West Asia and ahead of the deadline set by U.S. President Donald Trump for a potential deal with Iran. However, market participants will track RBI's meeting policy outcome. Nifty traded below 23,000 level.

IT, realty and metal shares advanced while PSU bank, auto and consumer durables shares declined.

At 13:25 ST, the barometer index, the S&P BSE Sensex declined 105.84 points or 0.14% to 74,001.01. The Nifty 50 index fell 21.95 points or 0.10% to 22,950.10.

In the broader market, the BSE 150 MidCap Index fell 0.33% and the BSE 250 SmallCap Index rose 0.16%.

The market breadth was strong. On the BSE, 2,546 shares rose and 1,522 shares fell. A total of 165 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 0.31% to 25.39.

Gainers & Losers:

Wipro (up 3.25%), HCL Technologies (up 2.79%), Hindalco (up 2.56%) , Tata Consultancy Services (TCS) (up 2.18%) and Infosys (up 1.98%) were the major Nifty50 gainers.

Dr Reddy's Laboratories (down 2.80%), Adani Enterprises (down 1.70%), Interglobe Aviation (Indigo) (down 1.58%), Mahindra & Mahindra (down 1.31%) and Eicher Motors (down 1.24%) were the major Nifty50 losers.

Stocks in Spotlight:

Titagarh Rail Systems surged 10.24% after the company's subsidiary, Titagarh Naval Systems, has received an in-principle approval from Ministry of Ports, Shipping and Waterways for its brownfield expansion project at Falta, West Bengal.

Godrej Consumer Products (GCPL) advanced 2.50% after the company said its standalone business is expected to deliver double-digit underlying sales growth and high-single digit underlying volume growth in Q4 FY26.

CreditAccess Grameen jumped 3.54% after the microfinance lender reported a strong operational performance for FY26, led by healthy disbursement growth, portfolio expansion and improvement in asset quality.

Gallantt Ispat surged 14.56% after the company reported a 59% year-on-year rise in pellet production to 2,21,612 MT in Q4 FY26 as against 1,39,697 MT in Q4 FY25.

Shyam Metalics & Energy rallied 3.49% after the company announced that its stainless steel sales volume jumped 58.91% to 10,519 MT in March 2026 as compared with 6,619 MT in March 2025.

Lodha Developers rose 0.88%. The company said that it has recorded quarterly pre-sales of Rs 5,890 crore in Q4 FY26, which is higher by 23% as compared with the pre-sales of Rs 4,810 crore registered in Q4 FY25.

PC Jeweller added 1.06% after the company reported 32% YoY standalone revenue growth in Q4 FY26.

Jubilant FoodWorks tumbled 10.25%. The company said its consolidated revenue from operations stood at Rs 2,505.8 crore in Q4 FY26, up 19.1% year-on-year (YoY). The company's standalone revenue rose 6.2% YoY to Rs 1,686 crore.

Kalyan Jewellers India slipped 1.68% after its consolidated revenue climbed 64% YoY in Q4 FY26, driven by strong festive and wedding demand, robust same-store sales growth (SSSG), and sharp traction in its digital platform, Candere.

Global Markets:

Most European and Asiann market advanced on Tuesday, despite President Donald Trump's deadline for Iran to reopen the Straight of Hormuz, due later in the day.

U.S. President Donald Trump threatened to target Iran's civilian infrastructure if a peace deal is not reached in less than 24 hours, while also signaling that the Iranian leadership was negotiating in earnest.

Trump reiterated his demand for Iran to open the Strait of Hormuz by 8 p.m. Tuesday, which would allow traffic to start flowing again through the vital route for global energy supplies ' warning the U.S. would decimate every bridge and power plant within four hours of that deadline not being met.

The U.S. and Iran are weighing a framework plan to end their 5-week-old conflict, with Tehran pushing back against Trump's pressure to swiftly reopen the Strait of Hormuz under a temporary ceasefire, and repeating its demand for a lasting end to the war.

Iran has rejected the U.S. ceasefire proposal and floated its own 10 points, including an end to hostilities in the region, a protocol for safe passage through the Strait of Hormuz, lifting of sanctions, and reconstruction, according to Axios.

Overnight on Wall Street, the S&P 500 rose on Monday for a fourth session as oil prices teetered and traders hoped that the U.S.-Iran war could end soon.

The broad market index added 0.44% to close at 6,611.83, while the Nasdaq Composite gained 0.54% and ended at 21,996.34. The Dow Jones Industrial Average climbed about 165.21 points, or 0.36%, to settle at 46,669.88.