Markets begin the new financial year with strong gains as the Sensex jumps over 1200 points and the Nifty surges by over 350 points, trading near the 22,700 mark with all sectors in the green. Brent crude falls sharply below $100 a barrel, dropping over 4% intraday on easing Iran war concerns as investors reassess geopolitical risks. The government provides relief to airlines, clarifying that the 115% ATF hike applies only to non-scheduled operators and charters, while domestic carriers see only a 15 rupee per litre increase. Government data reveals mounting fuel company losses, with oil marketing companies facing under-recoveries of 24 rupees per litre on petrol and 105 rupees on diesel as retail prices remain unchanged. GST collections cross 2 lakh crore rupees in March with 8.8% growth, while net GST stands at 1.78 lakh crore rupees, up 8.2% year-on-year. Financial year 2026 collections rise to 22.27 lakh crore rupees, signalling steady economic momentum. Defence stocks rally sharply with Garden Reach Shipbuilders up 19% and shipping logistics names gaining significantly.
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