Equity Alert
Indices turn mixed as select stocks give up gains; RIL up 1%
This story was originally published at 11:34 IST on 4 February 2026
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Equity Alert: Indices turn mixed as select stocks give up gains; RIL up 1%
MUMBAI--1104 IST--Benchmark indices turned mixed as select stocks gave up early gains. The Nifty 50 was off highs while BSE Sensex turned flat. The Nifty 50 was supported by the gains in the heavyweight stocks of Reliance Industries and ICICI Bank, which rose around 1?ch.
At 1102 IST, the Nifty 50 was at 25750.15 points, up 22.60 points, or 0.1% and the BSE Sensex was at 83720.55 points, down 18.58 points, or flat.
Oil and Natural Gas Corp. of India was the top gainer in the 50-stock index, up over 4%. Shares of Coal India, Power Grid Corp. of India, and NTPC rose 2?ch. Shares of InterGlobe Aviation, Tata Motors Passenger Vehicles, Adani Ports and Special Economic, and Kotak Mahindra gave up early gains and were down 0.2-1%.
Information technology stocks continued to be the worst hits. Shares of Infosys, Tech Mahindra, Tata Consultancy Services, HCL Technologies and Wipro were down 4-7%. Information technology shares fell, tracking the losses on Wall Street due to a fall in software shares. This triggered selling pressure in the American depository receipts of Indian IT majors such as Infosys and Wipro. Infosys was the worst hit in the Nifty 200 and was among the worst hits in the Nifty 500 index, down over 7%.
Shares of InterGlobe Aviation fell during intraday after the Directorate of Civil Aviation data showed that market share of IndiGo fell to 59.6% in December from 63.6% reported in November. The stock is down 0.4%.
All the Nifty Smallcaps were in the green, with Nifty Smallcap 50 and Nifty Smallcap 100 up 1?ch. The gains in shares of Reliance Power, which rose over 10%, supported the Nifty Smallcap 50 and the gains in shares of BLS International Services, which rose nearly 6% supported the Nifty Smallcap 100.
Exide Industries rose after Nomura upgraded the recommendation on the stock to 'buy'. The brokerage expects the lead acid business of the company to grow further, driven by strong automotive demand and a gradual revival in the industrial segment on a low base. The stock rose over 4% to be among the top gainers in the Nifty 200 constituents. Dixon Technologies (India) was the top gainer in the Nifty 200 index, up over 5% and Lloyds Metals and Energy was the top gainer in the Nifty 500, up nearly 11%. (Adhithya Aji)
Equity Alert: AI worry hits tech stocks; analysts say knee-jerk reaction
MUMBAI--1050 IST--Shares of information technology companies were down after their American depository receipts faced selling pressure overnight amid concerns of artificial-intelligence players hurting sales of software development companies. However, analysts have called the current crash in stock prices a "knee-jerk" reaction and some even expect a sharp rebound in the days to come.
This rout in shares of Indian IT companies was triggered by Anthropic releasing 11 new plug-ins for its Claude Cowork agent, which is an agentic no-code AI assistant designed for enterprises. The tool is used to automate tasks across legal, sales, marketing, and data analysis needs. Wipro, HCL Technologies, Tech Mahindra, Tata Consultancy Services, and Infosys were the worst hit stocks of the Nifty 50 and were down 4-7%. Overnight, Infosys' ADR closed 5.6% lower and those of Wipro were down almost 5%.
"This current IT stock crash is more of a knee-jerk reaction," Sumit Pokharna, vice president of research at Kotak Securities, said. There are fears that the number of clients for core software developers may be hurt by AI tools, considering that AI players could replace core software and business models based on outsourcing, according to the analyst. However, Pokharna believes investors need to wait and watch how customisable these AI models can be as Indian IT companies operate at a service-provider level for US companies, relatively shielded to AI-related developments.
Eventually, instead of competing with players like Anthropic, Indian IT companies will partner with them in order to improve their service offerings, Rishubh Vasa, research analyst at Indsec Securities & Finance said. The analyst pointed out that Tata Consultancy Services has recently announced a slew of partnerships with AI companies in an attempt to capitalise on AI-related gains. While some pockets of Indian IT companies may face headwinds as AI tools become more popular, enterprises want customised software, and they trust Indian IT offerings, the analyst said.
"Anthropic should not be looked on as a competitor, but rather a potential partner," Vasa said. He sees a strong reversal in the movement of IT stocks in a few sessions as the current slump does not warrant a downward earnings revision of IT companies in the coming quarters. (Eshitva Prakash)
Equity Alert: Tube Investments slightly up ahead of Oct-Dec earnings Wed
MUMBAI--1048 IST--Shares of Tube Investments of India rose nearly 2% Wednesday to an intraday high of INR 2,544.70. The stock traded slightly higher ahead of its December quarter earnings. At 1038 IST, shares of the company were at INR 2,511.20 on the NSE, up 0.3%.
Motilal Oswal Financial Services Ltd. estimates the company's net profit for the December quarter at INR 1.84 billion, up around 15% on year but down over 1% from the trailing quarter. The brokerage expects the company's revenue at INR 21.22 billion, up 11% on year and largely unchanged from the September quarter.
While the company's metal-formed division is expected to grow 4% on year, the mobility and engineering divisions are expected to grow 25% on year and 15% on year, respectively, Motilal Oswal said. Revenue from other businesses is likely to decline 7% on year, the brokerage said. The company's earnings before interest, tax, depreciation, and amortisation are seen at INR 2.73 billion, the brokerage said, adding that the EBITDA margin is expected to remain largely stable on year at 12.9%.
Only one brokerage report is available on the company with Informist, which has a 'buy' rating on the stock with a target price of INR 3,680. For the September quarter, Tube Investments reported a net profit of INR 1.87 billion and revenue of INR 21.19 billion. Shares of the company are down 16% from Nov. 5, when the company detailed its September quarter earnings. (Shreya Shetty)
Equity Alert: Exide Industries rises 5%; Nomura upgrades stock to 'buy'
MUMBAI--1040 IST--Shares of Exide Industries rose over 5% to a high of INR 345.90. Nomura Equity Research raised its recommendation on the stock to 'buy' from 'neutral', but reduced its target price on the stock to INR 398 from INR 427. The stock has corrected around 20% and the brokerage believes the current valuation of the stock looks attractive.
The current valuation by the brokerage at around 10 times the stock's earnings per share over 2027-28 (Apr-Mar) is attractive, given a compounded annual growth of 17% over FY26-FY28. The company's lead-acid business looks strong as the brokerage expects growth to further recover on the back of strong automotive demand and a steady revival in the industrial segment coming on a low base. Although, the company has lowered its revenue estimates and cuts its earnings per share around 9% over FY26 to FY28, citing near-term weaknesses and rising lead prices. However, the brokerage has maintained its expectations of 10% compunded annual growth for the company's revenue over the period. For the company's lithium-ion cell business, the brokerage believes Exide is ahead of its peers to invest in this segment and can stand to gain from offtake as the plant begins its operations.
The company's auto original equipment manufacturing and replacement segment reported a rise of over 25% on year for the December quarter along with its industrial infrastructure segment, excluding telecommunication, which also saw double-digit growth, the brokerage said. However, 8% of the company's business, primarily its telecom business, declined 38% on year while its exports also reported a decline due to traiffs. Nevertheless, the telecom segment of the company has bottomed out and its exports orderbook is strong and should see strong growth in FY27, according to the company's management. A rise in cost of commodities such as silver and tin impacted the company's margins, with the company taking an around 2% price hike in January and expects the need to take one more. The company aims to improve its margins by 100-150 basis points.
At 1023 IST, shares of the company were trading nearly 5% higher at INR 344.20 on the National Stock Exchange. Nearly 5 million shares of the company have exchanged hands on the bourse so far during the session, sharply higher than the 770,226 shares of the company traded till the same time Tuesday. All three brokerage reports on the company with Informist have a 'hold' recommendation on the stock with the targe prices varying from a high of INR 427 to a low of INR 368. (Akshat Saksena)
Equity Alert: Indices inch higher on gains in heavyweights, energy cos
MUMBAI--0950 IST--Domestic benchmark indices opened lower but rose later, supported by gains in index heavyweight and energy stocks. The index heavyweights ICICI Bank and Reliance Industries rose over 1?ch, lending support to the Nifty 50 index.
At 0948 IST, the Nifty 50 was at 25776.95 points, up 49.40 points, or 0.2% and the BSE Sensex was at 83796.95 points, up 57.82 points, or 0.1%.
Oil and Natural Gas Corp. was the top gainer in the 50-stock index, up nearly 4%. Shares of NTPC, Coal India, Mahindra & Mahindra, and Power Grid Corp. of India rose 2?ch. In contrast, information technology shares were the worst hit in the index, with Infosys, HCL Technologies, Tata Consultancy Services, Tech Mahindra and Wipro down 4-6%.
Among the sectoral indices, Nifty Oil & Gas was the top gainer, up nearly 2%. The gains in the stock of Oil India supported the sectoral index. The stock was up nearly 5%. Nifty IT was the worst hit among the sectoral indices, down over 5%.
Oil stocks rose, with shares of Oil India, Indian Oil Corp., Hindustan Petroleum, and Bharat Petroleum Corp. rising 2-4%.
Exide Industries was the top gainer in the Nifty 200 index, up nearly 5%. Lloyds Metals and Energy was the top gainer among the Nifty 500 constituents, up over 13%. The stock rose after the company posted a twofold on-year growth in the company's bottom line to INR 10.47 billion.
Hindustan Aeronautics was the worst hit in the Nifty 200, down over 6% and PCBL Chemical was down nearly 7% to be the worst hit in the Nifty 500 index. (Adhithya Aji)
Equity Alert: Indices seen in range; investors seek clarity on US-India deal
MUMBAI--0844 IST--Headline indices are expected to be in a range Wednesday after a sharp rise in the previous session as the US and India agreed to a trade deal. Investors await official documents of the deal, which will provide clarity on the sectoral impact of some tariffs. Stocks of information technology companies will be in focus after a deep sell-off in US software stocks overnight.
Some trade uncertainty is seen in sectors such as agricultural and dairy products after US President Donald Trump said the tariffs on US agricultural goods would be zero. "New US-India deal will export more American farm products to India's massive market, lifting prices, and pumping cash into rural America," US secretary of agriculture Brooke Rollins said on social media platform, X. Meanwhile, Commerce and Industry Minister Piyush Goyal said that India has ensured that the interests of sensitive sectors such as agriculture and dairy are protected in the trade deal with the US.
Shares of IT majors will be in focus after a sharp fall in their American depositary receipts overnight. Infosys' ADR closed 5.5% lower and Wipro lost almost 5%. The sell-off emerged after artificial intelligence start-up Anthropic released a productivity tool for in-house lawyers, CNBC-TV 18 reported. Investors are concerned about artificial intelligence companies creating more competition for software makers.
The GIFT Nifty 50 indicates a marginally higher start for the Nifty 50. At 0844 IST, the February contract of Gift Nifty was at 25775.50 points, up 49 points from the Nifty 50's previous session close. On Tuesday, the Nifty 50 index closed at 25727.55 points, up 639.15 points, or 2.6% and the BSE Sensex closed at 83739.13, up 2072.67 points, or 2.5%. "Technically, after such a sharp gap-up move, markets typically undergo a phase of consolidation or attempt to partially fill the gap in the sessions ahead," Osho Krishnan, technical and derivative analyst at Angel One, said.
US indices closed sharply lower after most technology-related stocks declined, CNBC reported. A majority of the 'Magnificent Seven' companies ended lower. Software stocks continued to fall, with shares of ServiceNow and Salesforce falling around 7?ch. Meanwhile, Asian indices were mixed in early trade Wednesday as negative cues from US indices partially offset the optimism over the rising gold price. (Eshitva Prakash)
Equity Alert: Mkts in Asia mixed; KOSPI hits fresh high, regains 2300 points
MUMBAI--0824 IST--Indices in Asia were mixed for the session with the KOSPI hitting a fresh high yet again amid a tumultous month for the South Korean index. The index regained the 5,300-point level during the session. Data showed services activity in Japan expanded at its fastest in almost a year, led by growth in the overall private sector. The Nikkei fell after hitting a record high in the previous session.
The S&P Global final Japan Services Purchasing Managers' Index climbed to 53.7 in January, marking its 10th consecutive month of growth. This was slightly higher than a flash reading which forecast a reading of 53.4, Reuters reported. Readings below 50 signify contraction in activity, while readings above 50 signify growth. Marketing campaigns along with new client wins helped new work in January to report the highest rise in four months for the services sector. Employment in the services sector maintained its growth trajectory albeit at a slower pace than in December. Cost pressures eased as input prices rose at their slowest pace in almost two years. However, selling price inflation jumped to its seven-month-high, with firms passing higher costs on to customers. "Business confidence for the next 12 months remained upbeat, supported by anticipation of company expansion, higher customer turnout and economic recovery," Reuters said.
The South Korean index recovered after the 'Warsh Shock', the Chosun Daily reported. The index opened lower but extended its gains from the previous session and regained the 5300 level after three sessions. The KOSPI had plummeted over 5% in a single session after the announcement of Kevin Warsh's nomination to replace US Federal Reserve Chair Jerome Powell, but was able to recover during the previous session. However, shares of SK Hynix were over 1% lower owing to weakness in technology stocks on Wall Street. Shares of Samsung were also trading slightly lower.
In Japan, shares of Nintendo fell nearly 11?spite the company being on track to deliver its target for its full-year sales forecast of 19 million units for the year ended Mar. 31 for its Switch 2 console, CNBC reported. Nintendo has so far sold 17.37 million units of the console, with 7 million sales recorded in the December quarter itself. The fall in the company's shares came amid investor concerns about whether the company would be impacted by an unprecedented surge in memory prices, which is a key component in consoles.
Following are the levels of key Asian indices at 0822 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4658.13 |
(-)0.04 |
|
Hang Seng Index |
26739.8 |
(-)0.35 |
|
KOSPI |
5325.69 |
0.71 |
|
Nikkei 225 Day |
54391.58 |
(-)0.60 |
|
TOPIX FIRST SECTION |
3650.75 |
0.13 |
|
FTSE Singapore Straits Times |
4950.85 |
0.14 |
|
S&P/ASX 200 Index |
8893.30 |
0.41 |
| IDX Composite | 8080.52 | (-)0.52 |
(Akshat Saksena)
Equity Alert: US indices end lower Tue; Walmart emerges as $1-trillion co
MUMBAI--0744 IST--Equity indices in the US ended lower on Tuesday, with the tech-laden Nasdaq Composite ending over 1% lower. Shares of Palantir surged 7% during the session after the company's results beat expectations.
Walmart emerged as the first brick-and-mortar retailer to hit a valuation of $1 trillion, Reuters reported. This was after the stock rose due to growth in the digital business and acquisition of new customers, CNBC reported. Shares of the company ended nearly 3% higher on the tech-heavy index Tuesday.
Artificial intelligence companies NVIDIA and Microsoft ended nearly 3% lower, along with shares of Alphabet, which declined more than 1% ahead of its results on Wednesday. Amazon declined nearly 2% as well as markets wait for the company to report its results on Thursday. Investors are turning their attention towards software, data analytics, and professional services companies which are expected to face disruptions due to AI. This comes as AI developer Anthropic launched plug-in for its 'Claude Cowork' on Friday which automates tasks across legal sales, marketing, and data analytics, Reuters reported.
Shares of Thompson Reuters fell nearly 16%. "I think Anthropic came out with some plug-ins to tackle the legal space," Mike Archibald, a portfolio manager at AGF Investments in Toronto was reported as saying by Reuters. "Obviously, that's where Thomson Reuters generates a good chunk of their revenues. Sometimes the market just shoots first and asks questions later," he added. Shares of Salesforce, Datadog and Adobe fell around 7% each and those of Intuit fell around 11%.
Healthcare stocks came under pressure as Novo Nordisk cautioned that it expected a significant fall in its annual sales. The company said its profits and sales could drop as much as 13% in 2026, with the heavy price pressure from US President Donald Trump fuelling competition in the weight loss market. "In 2026, Novo Nordisk will face pricing headwinds in an increasingly competitive market," CEO Mike Doustdar was reported by Reuters as saying in a statement. "However, we are very encouraged by the promising early uptake from the US launch of Wegovy pill, and we remain confident in our ability to drive volume growth over the coming years," he added. Shares of the company fell over 1%.
Following are the closing levels of US indices Tuesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6917.81 |
(-)0.84 |
|
NASDAQ Composite |
23255.19 |
(-)1.43 |
|
Dow Jones Industrial Average |
49240.99 |
(-)0.34 |
(Akshat Saksena)
US$1 = INR 90.50
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Deepshikha Bhardwaj
All prices from National Stock Exchange, unless otherwise specified.
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