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Informist, Friday, Mar. 6, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: HSBC cuts Asian Paints, Berger Paints target price by 7-10%

 

MUMBAI--0857 IST--HSBC has cut its target price for Asian Paints and Berger Paints amid competition in the sector and as "structural issues remain", according to a post by NDTV Profit on social media platform X. The brokerage cut Asian Paints target price by 10% to INR 2,600 and that of Berger Paints by 7% to INR 500. It maintained a 'hold' rating for both companies.

 

"Price hikes could lead to narrowing of volume-value gap, but market and competitive structure is different now," the brokerage said. "Cost inflation is back after almost four years."

 

Thursday, shares of Asian Paints closed slightly higher at INR 2,287 on the NSE, while those of Berger Paints ended nearly 1% lower at INR 434.80. Shares of paint makers have declined recently due to a surge in crude oil prices, which is a key raw material for the industry, due to ongoing US-Iran hostilities and competition from Birla Opus. Asian Paints and Berger Paints have fallen 5-8% in a month and 22-23% in three months. (Anshul Choudhary)

 

 

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Equity Alert: Asian indices mixed after opening lower on high oil prices

 

MUMBAI--0841 IST--Asian indices were mixed in early trade after opening lower due to concerns over the ongoing US-Iran hostilities, which entered its seventh day. Higher oil prices threaten to worsen market sentiment globally, and market participants were also worried about disruption due to artificial intelligence.

 

After the closure of the Strait of Hormuz, Brent crude has been trading over $80 per barrel, up from around $71 per barrel a week ago. At 0825 IST, Brent crude May futures were trading at $84.04 per barrel, down 1%. The rise in oil prices has raised concerns of stagflation and a slower pace of interest-rate cuts by the US Federal Reserve, which may lead to a fall in stocks that are trading at high valuation, Reuters reports. Investors are also pricing in lower rate cuts from major central banks due to inflation risk.

 

Yields on 10-year US Treasury bonds have risen 16 basis points this week to settle at 4.13% Thursday. The US dollar is set to register its largest weekly gain in 16 months on Friday as investors sought the safety of cash, reconciling with the possibility of a prolonged conflict in West Asia.

 

Investors await the joint press conference by the People's Bank of China and the China Securities Regulatory Commission later in the day. The regulators will address the legislative meeting in Beijing, reported the South China Morning Post.

 

Following are the levels of key Asian indices at 0821 IST:

 

Index	Level	Change in %
CSI 300 Index	4641.93	(-)0.12
Hang Seng Index	25601.29	1.11
Nikkei 225 Day	55490.04	0.38
TOPIX FIRST SECTION	3705.80	0.08
KOSPI	5513.52	(-)1.26
FTSE Singapore Strait Times	4841.55	(-)0.1
S&P/ASX 200 Index	8844.4	(-)1.39

 

(Shruti Nair)

 

 

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Equity Alert: Indices likely to open dn; crude prices up on US-Iran tensions

 

MUMBAI--0815 IST--After seeing a rebound Thursday, benchmark equity indices are expected to open lower Friday with crude oil prices continuing to rise amid further escalation in the US-Iran conflict. This comes a day after global markets rose following reports that Iran had signalled to the US Central Intelligence Agency that it was open to talk about ending the war. 

Iranian Foreign Minister Abbas Araghchi said Thursday that Iran is "not asking for a ceasefire" from the US and Israel, adding that "we don't see any reason why we should negotiate" after nearly a week of war, CNBC reported. Araghchi also said that Iran is "confident" that it can confront the US military if President Donald Trump decides to invade the nation with ground troops. Earlier this week, Trump had indicated that the conflict may last four to five weeks. 

 

Israel and the US on Saturday jointly attacked Iran, killing hundreds, including the country's Supreme Leader Ayatollah Ali Hosseini Khamenei. Iran has since retaliated against Israel and targeted US military facilities around the Persian Gulf. 

 

Oil prices continued to rise, with the West Texas Intermediate crude futures surpassing $80 per barrel level Thursday, after Iran said it hit an oil tanker with a missile. After touching $86 per barrel level intraday, the May futures contract of Brent Crude Oil settled at $85.41 per barrel Thursday. At 0753 IST, the futures contract was at $84.09 per barrel, rising over 8% since Monday. 

 

As a measure to keep oil flowing into the global market, the US Treasury Department issued a temporary, 30-day waiver to allow Indian refiners to purchase Russian oil, Treasury Secretary Scott Bessent wrote on an "X" post. "This stop-gap measure will alleviate pressure caused by Iran's attempt to take global energy hostage," Bessent wrote. 

 

The futures contract of Gift Nifty indicates that the Nifty 50 may open lower. At 0755 IST, the March contract of Gift Nifty was at 24655.50 points, indicating an over 100 points fall from Nifty 50's closing price Thursday. "On levels front, 24300 (points) will continue to act as immediate strong support on the downside, while 24850-25000 spot zone will act as a hurdle on the upside," Vipin Kumaar, assistant vice president – technical and derivatives at Globe Capital Market said. News-driven volatility will continue to dictate short-term price movements, he added. (Arya S. Biju)

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Equity Alert: US mkts dn on concerns over higher oil prices, inflation risks

 

MUMBAI--0744 IST--Indices in the US ended lower Thursday as the US-Iran hostilities threaten to push oil prices higher leading to concerns of inflation and doubts over future rate cuts by the US Federal Reserve. Other countries being pulled into the West Asia war and disruption of trade through the Strait of Hormuz remain a major concern.

 

The US-Israel war against Iran entered its seventh day and led to disruption in oil and gas supply. On Thursday, Israel attacked Iran-backed Hezbollah bases in Beirut, Lebanon. Brent crude oil prices have remained in the $81-$85 per barrel range this week. At 0743 IST, Brent crude oil May futures were at $84 per barrel, down 1%.

 

The Dow Jones Industrial Average fell 785 points, down 1.61%, setting it on track for its worst week since October 2025, Reuters reported. Of the 11 sectors tracked by S&P 500, eight were down. Industrials, materials, and consumer staples fell over 2%. Notably, shares of Caterpillar and United Airlines fell 3-5%. However, a rise in energy stocks helped limit the fall in the index at 0.6%. Chevron gained 3.9% on the possibility of higher revenue due to the rise in energy prices.

 

Following are the closing levels of US indices Thursday:  

 

Index	Level	Change in %
S&P 500	6830.71	(-)0.56
NASDAQ Composite	22748.986	(-)0.26
Dow Jones Industrial Average	47954.74	(-)1.61

 

(Shruti Nair)

 

US$1 = INR 91.62

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Tanima Banerjee

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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