BEL secured ₹6,795 crore defence order; Oracle Plans Job Cuts To Fund AI - Paper by Pocketful

Apr 01, 2026

Bharat Electronics (+4.51%): Shares gained after the company secured additional defence orders worth ₹6,795 crore from the Ministry of Defence and other contracts, strengthening its order book and boosting investor sentiment.
NTPC Green Energy (+6.38%): Stock rose sharply after the company signed an MoU with PTC India to explore renewable energy sales through bilateral and market mechanisms. Additionally, its subsidiary NTPC Renewable Energy signed a Green Ammonia Purchase Agreement with SECI for supply of green ammonia.
Pace Digitek (+8.40%): Stock advanced after securing a ₹494.5 crore NTPC order for BESS maintenance at Nabinagar, including long-term services under the EPC package.
Bharti Airtel (-0.03%): Stock remained unchanged after the company announced a US$1 billion investment in Nxtra Data by global investors to expand its network and accelerate growth.

India Defence | Nifty India Defence (+5.32%): Sector rallied led by Bharat Electronics, HAL & Mazagon Dock after BEL secured ₹6,795 crore defence order, strong FY26 provisional revenue from Midhani and GRSE, boosting sentiment across defence stocks.
PSU Bank | Nifty PSU Bank (+3.70%): Sector rallied as all constituents traded in the green, driven by broad-based buying in state-run banks and improving sentiment in the banking space, lifting the PSU banking index.
Healthcare | Nifty Healthcare (-1.02%): Sector declined amid selling pressure in major pharma stocks. Sun Pharma, Dr. Reddy’s Labs and Cipla were among the most sold stocks, dragging the healthcare index lower.
Pharma | Nifty Pharma (-0.99%): Sector declined for the third consecutive session amid profit booking and weak sentiment in pharma stocks. 8 stocks advanced while 12 dragged the index.

Technical Level: Nifty opened with a huge gap-up, faced resistance near 22,940 and moved lower throughout the session, but managed to hold above the previous day’s high, forming support around 22,620.
Advance-Decline Ratio: Market breadth remained positive with 2,935 advances against 282 declines, indicating broad-based buying across the market.
The Big Picture: Shares of Oracle Corporation rose about 2.6% in premarket trading after reports that the company plans to cut thousands of jobs to reduce costs and free up capital for expanding AI data center infrastructure and supporting growing cloud demand from major tech clients.
FII/DII Activity (April 1, 2026): DIIs remained net buyers with purchases worth ₹7,172 crore, while FIIs were net sellers, offloading equities worth ₹8,331 crore.

Macro: Australia Balance of Trade (Feb) & US Balance of Trade (Feb) data are scheduled for release tomorrow, which may influence market sentiment.
Index Watch: Nifty opened on a positive note and held near the previous day’s high, supported by strong global cues. DIIs continued buying despite heavy FII selling. Global markets remained positive amid easing geopolitical tensions. Immediate resistance is placed near 23,250, while strong support is seen in the 22,400–22,000 zone.

Every mutual fund has a benchmark. The key is to assess whether the fund performs better than the market, especially during declines.

Smart Insight:
If Nifty falls 12% and your fund falls 7–8%, that’s outperformance.

Key Learning:
Benchmark comparison is essential
Lower drawdown reflects strength
Focus on relative performance

Divergence: Divergence occurs when a stock, sector, or indicator moves in a different direction from the broader market, often signaling potential trend changes or weakening momentum.

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