The new financial year (FY26) has commenced on a subdued note, largely driven by the imposition of higher-than-anticipated tariffs by the US, market experts said on Saturday, adding that any constructive developments arising from the ongoing India–US bilateral trade negotiations could serve as a supportive catalyst for the market.

Sectors like IT and metals have underperformed relative to the broader market, reflecting growing concerns over the outlook for the US economy and potential retaliatory trade actions by other countries.

According to Vinod Nair, Head of Research, Geojit Investments Limited, investors are expected to closely monitor any countermeasures implemented by global trade partners, which could further exacerbate geopolitical and economic uncertainty.

This cautious sentiment is reflected in the sustained rally in gold and bond prices, underscoring a pronounced shift toward safe-haven assets.

While guarding seashores, the Indian Coast Guard (ICG) has seized 179 boats and arrested 1,683 people over the last 10 years for illegally entering Indian waters, the Parliament was informed on Friday.

A toll-free number 1554 has also been promulgated for reporting of any eventuality at sea, said Minister of State for Defence Sanjay Seth in a written reply in Lok Sabha.

Replying to a question by Krishna Prasad Tenneti, the MoS said the 179 boats seized by ICG in the past decade were engaged in illegal activities like poaching, narcotics smuggling and illegal immigration.

He said surveillance of coastal areas is also undertaken through the Coastal Surveillance Network (CSN) and investigation by Remote Operating Station (ROS) and Remote Operating Centres (ROCs).

Elaborating on initiatives to strengthen coastal security, MoS Seth said the ICG deploys 18-20 ships, 30-35 crafts and 10-12 aircraft for daily surveillance.

Indian Railways has produced all-time high of 41,929 wagons in FY25, surpassing the 37,650 wagons produced in the earlier fiscal (FY24), the government said on Friday.

This marks a remarkable leap from the annual average of 13,262 wagons produced between 2004-2014, showcasing a significant boost in manufacturing capacity and efficiency, said Ministry of Railways.

Total wagon production in the last three years reached 1,02,369 units, boosting Railways’ freight capacity.

This growth is expected to reduce freight bottlenecks and enhance rail cargo movement.

“The numbers suggest a significant increase in the annual wagon production, highlighting the government’s vision of not only increasing domestic manufacturing but also improving its freight movement that will enhance convenience and also provide a major boost to the Indian economy, empowering India towards its goal of becoming an economic prowess,” said the ministry.

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved four projects to expand the track network of Indian Railways with an investment of Rs 18,658 crore, according to an official statement issued on Friday.

The four projects covering 15 districts in three states - Maharashtra, Odisha, and Chhattisgarh - will increase the existing network of Indian Railways by about 1,247 km.

These projects include Sambalpur-Jarapda 3rd and 4th Lines, Jharsuguda-Sason 3rd and 4th Lines, Kharsia-Naya Raipur-Parmalkasa 5th and 6th Lines, and Gondia-Balharshah doubling

The enhanced line capacity will improve mobility, providing enhanced efficiency and service reliability for Indian Railways. These multi-tracking proposals will ease operations and reduce congestion, providing the much-needed infrastructural development on the busiest sections across Indian Railways. The projects are in line with PM Modi’s vision of a New India, which will make people of the region "Aatmanirbhar" with comprehensive development in the area, which will enhance their employment/ opportunities, the official statement said.

Indian stock markets on Friday ended in the red for the second day in a row, as investors turned cautious after US President Donald Trump’s reciprocal tariffs announcement.

The sensex fell by 930.67 points, or 1.22 per cent, to close at 75,364.69. During the day, the index moved between an intra-day high of 76,258.12 and a low of 75,240.55.

The broader Nifty also dropped sharply and settled at 22,904.45, down by 345.65 points, or 1.49 per cent during the intra-day trade.

"The recent implementation of higher-than-anticipated US tariffs has had a significant impact on global markets, triggering a bearish trend as investors assess the broader implications,” said market experts.

“Domestically, while the direct impact of these tariffs is relatively moderate compared to other major economies, it remains more substantial than initially projected,” he added.

The office market across top seven cities in India offers an estimated Rs 45,000 crore (approximately $5.3 billion) opportunity in retrofitting (improving the existing building design and engineering, integrating new technology, enhancing user experience, and incorporating climate-adaptive features and capabilities) and upgrading existing buildings, according to a report on Friday.

Approximately 62 per cent of India's Grade A office stock across top seven cities, equivalent to 530.8 million square feet (sq ft), requires upgrades – spanning from light to moderate to deep interventions.

The Silicon Valley of India leads in office retrofitting opportunities offering the largest potential among major Indian cities, with 155.9 million sq ft of Grade A stock, requiring an estimated Rs 14,410 crore in upgrade spends.

The HSBC PMI Index for India’s services activity remained buoyant at 58.5 in March, which is well above its long-run average of 54.2 but a tad lower than February’s reading of 59, according to data released on Friday.

Meanwhile, the HSBC India Composite PMI Output Index increased to a 7-month high of 59.5, from 58.8 in February, to record another month of above-trend growth.

The 50.0 mark in the HSBC PMI index represents the crucial level that separates growth from contraction.

“Domestic and international demand remained fairly buoyant in March, despite being sequentially a tick lower than the month before," said Pranjul Bhandari, chief India economist at HSBC.

Indian frontline indices opened in the red on Friday following global sell-off in the equity markets in reaction to the reciprocal tariffs announced by US President Donald Trump.

At 9:23 am, Sensex was down 544 points or 0.71 per cent at 75,750 and Nifty was down 194 points or 0.82 per cent at 23,059.

Midcap and smalcap stocks witnessed selling pressure in the early trading hour. Nifty midcap 100 index was down 669 points or 1.34 per cent at 51,464 and Nifty small 100 index was down 253 points or 1.56 per cent at 16,001.

In a significant move to help passengers recover lost or stolen mobile phones, the Railway Protection Force (RPF) has successfully onboarded with the Central Equipment Identity Register (CEIR) portal of the Department of Telecommunication.

CEIR portal is DoT’s crucial digital tool to recover mobile phones by blocking the IMEI number, tracking and managing of lost or stolen devices.

This initiative follows the success of a pilot program in the Northeast Frontier Railway. The all-India roll out of this program across Indian Railways on Thursday would benefit millions of Railway Passengers.

In the inauguration launch and training programme for CEIR portal, RPF Director General Manoj Yadava said: “The collaboration of RPF with the Department of Telecommunication for operating CEIR portal marks a significant milestone in railway security. By harnessing digital technology, we aim to provide passengers with a transparent and effective mechanism to recover their lost or missing mobile phones. This initiative strengthens law enforcement capabilities and fosters greater trust among railway commuters. We remain committed to safeguarding passenger property and ensuring a secure travel experience across the railway network.”