** 📰 India Business Brief: Top Headlines for March 03, 2026

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Business Standard

• Market Holiday: Domestic stock exchanges, including the BSE and NSE, remain closed today, March 03, 2026, on account of Holi. Trading will resume tomorrow, March 04.
• Monday Crash Recap: The benchmark Sensex tumbled 1,048 points to settle at 80,238.85 on Monday, while the Nifty fell 313 points, driven by heavy selling in financials and auto stocks.
• RBI Penalty on MMFSL: The Reserve Bank of India has imposed a monetary penalty on Mahindra & Mahindra Financial Services (MMFSL) for regulatory non-compliance related to fair practices and grievance redressal.
• Summer Power Picks: JM Financial has identified Adani Power and Tata Power as top utility bets for the 2026 summer, forecasting peak demand to hit 285 GW due to extreme heat.
• Bihar Microfinance Bill: Shares of Small Finance Banks (SFBs) witnessed a sharp decline after the Bihar government passed a new Microfinance Bill, raising concerns over tighter lending regulations.

Economic Times

• Geopolitical Jitters: West Asia conflict spillover has rattled Dalal Street, causing the "fear index" India VIX to surge 25% to reach 17.13, its highest level in nine months.
• Oil Price Shock: Brent crude prices jumped to $78.8 per barrel on Monday, benefiting upstream companies like ONGC but hurting oil marketing firms like BPCL and HPCL.
• 52-Week Lows: Major large-cap stocks, including IT giants TCS and Wipro, hit fresh 52-week lows during Monday’s rout. Wipro has slipped nearly 19% in the past month alone.
• IndusInd Bank CEO: The bank has reportedly finalized a shortlist for its next CEO as part of its leadership transition plan, pending approval from the central bank.
• Railway Fare Hike: Indian Railways has announced a marginal increase in ticket prices for certain categories, aimed at funding safety upgrades and new infrastructure projects.

Mint

• Swiggy Hits Record Low: Swiggy shares hit an all-time low on Monday, marking a 26% decline so far in the 2026 calendar year amid concerns over quick-commerce competition.
• Pharma and Metals Resilient: Despite the broader market crash, the pharmaceutical and metal sectors bucked the trend on Monday as investors sought defensive plays.
• Strait of Hormuz Alert: Analysts warn that any disruption to the Strait of Hormuz due to the Iran-Israel conflict could severely impact Adani Ports and JSW Infrastructure operations.
• US Market Rally: Global reports suggest that the 2026 US market rally is shifting toward "selective growth," with institutional capital favoring companies with durable earnings over speculative growth.
• HPV Vaccination Launch: Prime Minister Narendra Modi has launched a nationwide Human Papillomavirus (HPV) vaccination program targeting girls aged 14 to combat cervical cancer.

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