Indian government bond yields continued to drop, nearing a 38-month low, driven by expectations of aggressive policy easing by the central bank. Markets are eyeing the upcoming borrowing plan announcement and further rate cuts expected by the Reserve Bank of India in April.

Tariffs of 25% on imported finished autos and auto parts announced by Trump are causing uncertainty in the market. While the tariffs seem harsher than expected, there is talk of possible leniency. The situation is compounded by the upcoming fiscal bill aimed at cutting taxes, raising questions about revenue sources.

Shares of Aurobindo Pharmaceuticals dropped 2% to a day s low of Rs 1,132.75, while Ipca Laboratories fell 2.7% to Rs 1,403.95. Sun Pharmaceuticals and Dr. Reddy’s Laboratories saw a 1.7% decline each.

BSE shares surged nearly 6%, reaching Rs 4,730.30 on the NSE after the exchange announced a board meeting on March 30 to consider a bonus share proposal. If approved, this would be BSE’s second bonus issue in three years, following the issuance of two bonus shares for every one held by investors in March 2022.

Chakri Lokapriya discusses the recovery of the financial market, highlighting the strategic moves in banking and power sectors. He mentions the impact of tariff noise, buying trends in PSU banks and NBFCs, and suggests top investment ideas like Power Finance and REC. He also covers real estate, cement industry growth, and the retail sector s potential revival.

British bond investors cheered lower-than-expected UK borrowing plans on Wednesday, but warned the government was likely to need tax hikes later this year if economic growth remains weak.

Axis Bank divested a 1.3% unitholding in National Highways Infra Trust (NHIT) for Rs 230 crore through an open market transaction. In addition, NHIT s arm received a nod from the Competition Commission of India to acquire concession rights for over 11 road projects.

Gold Price: Gold prices surged 15.4% globally and 14% domestically in FY25, marking a decade-high performance. Key drivers include falling interest rates, geopolitical tensions, and strong central bank demand. With further rate cuts expected, gold prices may continue their upward trend.

Indian Rupee: The Indian rupee ended at 85.705 per US dollar on Wednesday, gaining marginally amid dollar inflows and financial year-end positioning. Traders focus on upcoming US tariff decisions, while 85.40/$1 acts as a support level for the currency.

India bond yields: India’s 10-year bond yield dropped to a three-year low of 6.60% on Wednesday before closing at 6.62%, driven by expectations of a repo rate cut and a policy stance change in the upcoming RBI monetary policy meeting.