SENSEX tanks over 1,400 pts, NIFTY50 below 23,000 in noon deals; L&T, RIL among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, tumbled in the afternoon session on Friday, March 27, amid uncertainty over the potential peace deal relating to the Iran war and mixed global cues. Investor sentiment was also impacted by crude oil prices, with Brent crude oil, despite falling intraday, is hovering above $105 per barrel (bbl).

The SENSEX tanked by as many as 1,480.93 points to an intraday low of 73,792.52, while the NIFTY50 touched the session’s low of 22,884.50.

At around 2:20 PM, the S&P BSE SENSEX slumped by 1,414,89 points, or 1.88%, to 73,858.56. NSE’s NIFTY50 was trading at 22,904.55, reflecting a 401.90-point, or 1.72% decline.

The bourses, NSE and BSE, were closed on Thursday, March 26, on the occasion of Ram Navami.

On Wednesday, the foreign institutional investors (FIIs) sold shares worth ₹1,805.37 crore, while the domestic institutional investors (DIIs) bought equities worth ₹5,429.78 crore on a net basis, according to exchange data.

Buzzing stocks on March 27: Check list

Shares of Tata Motors declined as much as 5.32% to an intraday low of ₹301.05 apiece on the National Stock Exchange (NSE) on Friday, March 27, amid news reports that the company's flagship arm, Jaguar Land Rover (JLR), has temporarily halted production on car lines at its Solihull plant due to a parts issue with a supplier. Solihull is a town in the east of the West Midlands county, England.

A JLR spokesperson said, "Due to a part supply challenge with a supplier, we are temporarily pausing production on certain vehicle lines at our Solihull manufacturing facility. We are working closely with that supplier to resolve the issue as quickly as possible and minimise any impact on our clients or our operations."

The stock of graphite electrode manufacturers HEG Ltd (14.1%) and Graphite India (10.8%) were trading in the positive zone, after GrafTech International Ltd announced it would increase graphite electrode prices by $600 to $1,200 per metric tonne, depending on region, effective immediately on uncommitted volume.

In a press release, GrafTech said that this price increase represents a necessary step to restore pricing on its products to levels that "we expect will safeguard our regional graphite electrode production and continuity of supply for our customers".

Shares of oil marketing companies such as Indian Oil Corporation (IOCL), BPCL, and HPCL were trading mixed, as the government announced a sharp cut in fuel excise duty. Petrol duty has been slashed to ₹3/litre from ₹13 earlier and diesel to nil from ₹10, offering relief at the pump.

The excise duty cuts are expected to absorb 30%–40% of OMC losses on auto fuels, providing relief when crude prices are high, as per reports.

The duty cuts have been announced, given the rising global crude prices amid the war in the Middle East.

At the same time, the government has levied an export tax as international prices of petrol and diesel have skyrocketed, and any refinery exporting to foreign nations will have to pay the export tax.

The stock of Seamec surged 3% before slipping into the negative territory, after the company secured more than ₹329 crore work order from the Oil and Natural Gas Corporation (ONGC).

In a regulatory filing, the company disclosed that ONGC has awarded a contract worth ₹329,92,34,688 or more than ₹329.92 crore, including GST, to the consortium comprising Seamec and Supreme Hydro Pvt. Ltd, for the hiring of operation and maintenance services for one of its diving support vehicles.

Larsen & Toubro (L&T) shares were trading in the red, despite its building and factories (B&F) business vertical bagging multiple significant orders across several states in India. In Gujarat, it has secured an order for the construction of a Float Glass Plant. The scope includes design and construction of all civil, steel, mechanical, electrical & plumbing and associated external development.

In Andhra Pradesh, the business has secured an order from a leading two-wheeler company for the construction of their state-of-the-art manufacturing facility. The scope includes civil, steel and architectural works.

Further, the business has secured multiple add-on orders in existing projects, it said in a regulatory filing.

The stock is declining amid a broad-based sell off in the market and tensions over the West Asia crisis.

Fino Payments Bank stock advanced as much as 7.27% to an intraday high of ₹132.69 per equity share, after it informed the exchanges that a special judge for Economic Offences granted the bail to Rishi Gupta, MD & CEO of the Bank on March 26, 2026.

It further clarified that ted, the ongoing investigation relates to certain program managers associated with multiple banks including the Bank and does not relate to the Bank’s GST compliance.

It added that the Bank will continue to fully cooperate with the authorities.

Shares of Oracle Financial Services Software (OFSS) gained as much as 7% to the session peak of ₹7,062 per unit, as it entered into a definitive agreement with one of its existing customers, a global bank headquartered in the USA.

It added that under the agreement, the company will enter into a proposed transaction pursuant to which inter alia it will license to the customer certain software products in perpetuity, provide certain transition services, personnel and related aspects.

“The aggregate consideration payable to the company for the Proposed Transaction (other than for provision of transition services) is estimated to be approx. $100 million (approx. ₹940 crore subject to exchange rate),” it stated.

Reliance Industries (RIL) stock fell as much as 4.23% to an intraday low of ₹1,353.20 per equity share on Friday, March 27.

This comes as the company, in a regulatory filing, categorically rejected “recent media reports alleging the purchase of crude oil of Iranian origin.”

It added that the claims were entirely “baseless, factually incorrect, and misleading.”

It further stated that it urged “media outlets to verify facts thoroughly before publication and to refrain from disseminating unsubstantiated reports that can misinform stakeholders and the public.”