Markets Continue To Fall on Middle East War
Moneylife Digital Team 04 March 2026
On Wednesday, 1,053 stocks advanced, 3,245 declined and 147 remained unchanged on Bombay Stock Exchange with advance decline ratio of 0.32 indicating a negative closing.  The trend of the major indices on Wednesday’s trading is given in the table below.  
 
 
On the National Stock Exchange (NSE), 17 securities advanced and closed at a new 52-week high whereas 586 securities sank to close at their new 52-week lows. Nifty Metal, Nifty PSU Bank and Nifty Media were among the biggest loser. Nifty IT was the only gainer. 
 
Aurobindo Pharma’s (-1.34%) subsidiary Eugia Pharma Specialities has launched Pomalidomide Capsules (1–4 mg) in the US. The product is a generic of Pomalyst® (BMS), with Eugia among the first‑to‑file abbreviated new drug application (ANDA) applicants.. With a US$3.3bn (billion) US market (IQVIA, January 2026), the launch strengthens its oncology generics portfolio. MRF Ltd. (-2.72%) signed an MoU with the Tamil Nadu government to set up a greenfield tyre facility at SIPCOT Industrial Park. The project involves an estimated ₹5,300 crore investment over 12 years, creating ~1,000 direct jobs. The MoU is non-binding, subject to approvals, incentives, and infrastructure support.
 
Gland Pharma Ltd. (-4.81%) has received tentative USFDA approval for Brimonidine Tartrate Ophthalmic Solution, 0.025% (OTC). The product is a generic of Lumify® (Bausch & Lomb), indicated for eye redness relief. With US sales of ~USD 39M (Sept 2025, IQVIA), the approval positions Land Pharma in the OTC ophthalmic segment.
 
Paras Defence & Space Technologies Ltd. (+7.48%) signed an MoU with South Korea’s Green Optics Co. Ltd.The collaboration will focus on developing and manufacturing advanced optics and optical systems for defence and space. It establishes a framework for joint R&D, manufacturing, and market expansion leveraging both firms’ expertise.
 
Gujarat Gas (+4.91%) will cut industrial gas supply by 50% from March 6–31, 2026, citing global LNG disruptions from the Middle East conflict. The curtailment affects Daily Contract Quantity (DCQ) for industrial consumers, including ceramics (Morbi), chemicals, textiles, and other energy intensive sectors. Customers have been advised to limit consumption and adjust operations during the reduction period.
 
Glenmark Specialty SA, a subsidiary of Glenmark Pharma (-3.94%), received final USFDA approval for Fluticasone Propionate Inhalation Aerosol USP, 44 mcg. The product, a generic of Flovent HFA (GSK), comes with 180 days of CGT exclusivity upon launch. Commercialisation begins in March 2026, strengthening Glenmark’s US respiratory portfolio.
 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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