Indian share markets witnessed negative trading activity throughout the day today and ended deep in the red.

Benchmark indices slumped to their lowest level in eight months as the US and European Union mulled boycotting importing oil from Russia.

Consequently, fears of tighter oil and gas supplies, higher inflation, and, faster-than-expected rate hikes by global central banks dampened investor sentiment.

Brent crude futures hit their highest level since 2008, hitting the US$130 per barrel mark in intraday trade.

The Sensex slumped nearly 2,000 points and hit a low of 52,367. It recovered marginally on the back of buying in Bharti Airtel, HCL Tech, and Infosys.

The NSE Nifty index touched an intraday low of 15,711 before settling at 15,863.

At the closing bell, the BSE Sensex stood lower by 1,491 points (down 2.7%).

Meanwhile, the NSE Nifty closed lower by 382 points (down 2.4%).

ONGC and Hindalco were among the top gainers today.

IndusInd Bank and Maruti Suzuki, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,841, down by 400 points, at the time of writing.

Both, the BSE Mid Cap index and the BSE Small Cap index ended down by 2.3%.

Sectoral indices ended on a mixed note with stocks in the realty sector, banking sector, and finance sector witnessing most of the selling pressure.

Metal stocks, on the other hand, witnessed buying interest.

Shares of GMDC and ONGC hit their respective 52-week highs today.

Asian stock markets ended on a negative note today.

The Hang Seng and the Shanghai Composite tanked 3.9% and 2.2%, respectively. The Nikkei ended slumped 2.9% in today's session.

US stock futures are trading on a weak note today with the Dow Futures trading down by 493 points.

The rupee is trading at 76.96 against the US$.

Gold prices for the latest contract on MCX are trading up by 2.5% at Rs 53,854 per 10 grams.

In news from the mining sector, Coal India was among the top buzzing stocks today.

State-run Coal India (CIL) has recorded a total supply of 608.2 m tonnes of coal so far in the financial year of 2022.

The company achieved the feat on 4 March, with 21 days still left in the financial year.

Its previous annual record high was 608.14 million, achieved in the financial year 2019.

Nearly all its subsidiaries are ahead in their respective coal off-take numbers over the corresponding period last year.

CIL is concentrating its efforts to increase its supplies further in a bid to touch the 670 million tonne off-take mark in the financial year of 2022.

During the same period, the public sector major had supplied 575 m tonnes, while in the financial year 2020 it was around 580 m tonne.

On 4 March, the company said its annual supplies to the power sector touched a record high of 493 m tonnes in the current financial year. Its previous record supply to the power sector of 491.5 MT registered in fiscal 2019.

Coal India is an Indian government-owned coal mining and refining corporation. It is under the ownership of the Ministry of Coal, Government of India headquartered in Kolkata.

It is the largest coal-producing company in the world and a maharatna public sector undertaking.

Coal India's share price ended the day up by 4.1% on the BSE.

In news from the banking sector, interest rate sensitive stocks were under pressure today with banks, non-banking finance companies (NBFCs), housing finance companies (HFCs), automobiles, and real estate sector stocks down around 6-10% on concerns of reversal in interest cycle due to rising inflation.

The auto, realty, Nifty bank index, and Nifty financial services indices were down in the range of 4-5%.

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Moving on to news from the IT sector...

TCS Plans Organisational Revamp to Double Revenue Before 2030

Tata Consultancy Services plans to overhaul its organizational structure with specialized groups targeted to help startups as well as large global firms as Asia's largest software outsourcing provider gears up to double its revenues to US$50 bn before 2030

The Mumbai-based company will create four internal teams -- a business transformation group, incubation group, enterprise growth, and another aimed at new business models.

TCS is expected to present this proposed new structure at its board meeting this week.

The rejig is aimed at aligning TCS with the changing needs of its clients who are increasingly looking to digitize in the post-Covid-19 world and the boom in startups.

Indian IT sector has been on a roll, buoyed by the pandemic-induced rush among enterprises to transform into work-from-anywhere, digital businesses, boosting growth and making it a US$227 bn industry by end of March 2022.

TCS's new structure is based on where its customers are in their business journey, the people said. It factors in, for instance, that a sub-US$5 billion start-up would have a very different set of technology and business requirements than a large global corporation.

TCS, which employs over half a million around the world, the bulk of them in India, reported US$25 bn in revenues for the year ended 31 December.

Riding the sector boom, TCS and its rivals Infosys and HCL Technologies have been signing on new customers, expanding contracts, and hiring software programmers by the thousands every quarter.

The outsourcing giant, part of the Tata Group, is also planning to open a dozen innovation centers globally including the US and Europe, according to reports.

TCS's share price ended the day down by 1.2% on the BSE.