Informist Media - Equity Alert: Several Asian mkts recover after opening dn on high oil prices

EquityWireEquity Alert: Several Asian mkts recover after opening dn on high oil prices

Equity Alert

Several Asian mkts recover after opening dn on high oil prices

This story was originally published at 15:44 IST on 6 March 2026

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

Equity Alert: Several Asian mkts recover after opening down on high oil prices

MUMBAI--1526 IST--Several Asian indices ended higher after having opened lower due to the US-Iran hostilities driving up crude oil prices. Indices in Japan, China, and South Korea had opened lower but managed to rise as the day progressed. Several indices have gained over the past two sessions but they still ended lower on a weekly basis.

Concerns related to crude oil prices hit sentiment leading to most Asian indices opening in the red. Oil prices breached $85 per barrel this week due to the developments in West Asia. Shutting down of the Strait of Hormuz has affected markets worldwide. At 1518 IST, May futures contract of Brent crude oil was up 1.5% at $86.74 per barrel.

South Korea's Kospi ended marginally higher after it recovered nearly 10% Thursday from the 12?ll on Wednesday. The index's heavyweight LIG Nex1 rose 9?ter media reports said its systems were used to intercept Iranian missiles. Australia's S&P/ASX 200 Index ended 1% lower due to fall in shares of basic material companies.

Following are the levels of key Asian indices at 1525 IST:

Index	Level	Change in %
CSI 300 Index	4660.44	0.27
Hang Seng Index	25757.29	1.72
Nikkei 225 Day	55620.84	0.62
TOPIX FIRST SECTION	3716.93	0.39
KOSPI	5584.87	0.02
FTSE Singapore Strait Times	4848.25	0.03
S&P/ASX 200 Index	8851	(-)1.00

(Shruti Nair)

Equity Alert: Indices fall more as crude oil prices surge on US-Iran conflict

MUMBAI--1508 IST--Indices fell further as crude oil prices rose more amid the ongoing conflict between the US and Iran. Weakness in shares of financial services companies weighed on the indices. The Nifty 50, which fell below 24500 points, was dragged down by index heavyweights HDFC Bank and ICICI Bank. They were the worst hit in the index, down 3% and 2% respectively.

At 1506 IST, the Nifty 50 was at 24455.40 points, down 310.50 points or 1.3%. The BSE Sensex was at 78938.12 points, down 1077.78 points or 1.4%.

At 1508 IST, the May futures contract of Brent Crude Oil was at $86.06 per barrel, up nearly 1%. Friday, oil prices hit a high of $86.09 per barrel. The prices have surged 19% since the attack by US and Israel on Iran, which has led to the closure of the key maritime route, the Strait of Hormuz.

Bharat Electronics was the best performing stock in the Nifty 50. They stock was up nearly 3%. Reliance Industries and NTPC rose around 2?ch. Oil and Natural Gas Corp. rose over 1%. Hindalco Industries, Sun Pharmaceutical Industries, and Nestle India rose around 1?ch.

HDFC Life Insurance Co., Bajaj Finserv, Axis Bank, State Bank of India, Kotak Mahindra Bank, Shriram Finance, Jio Financial Services, and Bajaj Finance were down 1-2%. Shares of Eternal, Coal India, Bharti Airtel, and UltraTech Cement fell around 2?ch.

Shares of United Spirits and United Breweries rose nearly 4% and 6% respectively, on media reports that the Karnataka government has revamped its liquor policy and the taxes will be based on actual alcohol content. The state government plans to scrap government-administered price controls on alcoholic beverages from April, which will come as a major relaxation for beer and liquor makers, Moenycontrol.com reported.

Godrej Properties was the worst hit among Nifty 200 constituents. The stock was down over 3%. In the Nifty 500, LT Foods was the worst hit, down more than 5%. Earlier in the day, the stock had risen to a three-month high of INR 471.95. (Adhithya Aji)

Equity Alert: United Breweries up 6?ter Karnataka revises liquor policy

MUMBAI--1440 IST--Shares of United Breweries and United Spirits rose sharply after the Karnataka government ended its role in fixing liquor prices in the state. Alcohol pricing will now be deregulated in the state, which will allow manufacturers to place their products in different price slabs based on market competition, several media reports said. The existing 16 pricing slabs have been halved to simplify the pricing structure.

From April, taxes will be levied based on alcohol content rather than the total volume in a bottle. This transition will be phased in over the next three to four years to avoid market disruption, Hindustan Times reported. These announcements were made by Karnataka , Chief Minister Siddaramaiah during the presentation of the state budget. Any development in Karnataka that is positive bodes well for the alcoholic beverages space in the country, CNBC-TV18 quoted Vinod Giri, director general of Brewers Association of India, as saying. The official added that 12% of domestic beer volumes come from Karnataka.

The state's budget will also tap into "alcobeer tourism," according to media reports. This push could see distilleries and breweries hosting tasting sessions and sell products directly to tourists on their premises.

At 1436 IST, shares of United Spirits were up over 5%. Of the 11 brokerage reports available on United Spirits, 10 have a 'buy' call on the stock of United Spirits with an average target price of INR 1,552. One brokerage has a 'hold' call on the stock.

Shares of United Breweries were up nearly 6%. Of the nine brokerage reports available on the stock, four have a 'buy' call with an average target price of INR 1,906, two have a 'hold' call and three others recommended 'sell'. (Eshitva Prakash)

Equity Alert: IRCON, Rail Vikas shares soar amid reports of proposed merger

MUMBAI--1410 IST--Shares of railway companies IRCON International and Rail Vikas Nigam rose sharply amid media reports that the Ministry of Railways has moved a formal proposal to merge the two companies. The Ministry of Railways is the administrative authority for both the central public sector enterprises.

According to a report by PSU Connect, the move is aimed at eliminating duplication of efforts, pooling resources, and enhancing the combined entity's ability to bid for mega infrastructure projects. While the proposal has been moved, it will now have to undergo a standard review process, which includes approvals from the Ministry of Finance, the Department of Public Enterprises, and ultimately the Cabinet Committee on Economic Affairs, according to the report. Since both companies are listed entities, the merger would also require approval from their respective shareholders.

Shares of IRCON International rose over 12% to an intraday high of INR 150.30 and those of Rail Vikas Nigam rose nearly 7% to an intraday high of INR 298.40 on the NSE, snapping a four-session losing run.

Among other railway companies, shares of Titagarh Rail Systems were up over 4% at 1401 IST and those of Indian Railway Finance Corporation were up over 1%. Shares of Indian Railway Catering And Tourism Corp. were down almost 1%. (Eshitva Prakash)

Equity Alert: Indices fall further as select stocks extend losses

MUMBAI--1318 IST--Benchmark indices fell more as select stocks extended losses from the early session. Banking stocks were the major drags on indices. Heavyweights ICICI Bank and HDFC Bank were down around 3% and 2%, respectively, and continued to weigh heavily on the Nifty 50. Shares of Eternal, Bajaj Finance, and HDFC LIfe Insurance Co. fell further. These stocks were down around 2?ch as well.

At 1318 IST, the Nifty 50 was at 24596.30, down 169.60 points or 0.7%, and the BSE Sensex was at 79387.93, down 627.97 or 0.8%.

Bharat Electronics continued to be the top gainer in the index. The stock rose nearly 3% and hit an all-time high of INR 472.85. The heavyweight Reliance Industries rose 2%. Shares of state-owned energy companies NTPC and Oil and Natural Gas Corp. were up nearly 2% and 1%, respectively. Grasim Industries, Hindalco Industries, Power Grid Corp. of India, and Asian Paints rose around 1?ch.

ICICI Bank was the worst-hit stock in the index. Financial services companies HDFC Life Insurance Co., Bajaj Finserv, Axis Bank, State Bank of India, Kotak Mahindra Bank, Bajaj Finance and Jio Financial Services were down 1–2%. UltraTech Cement, Larsen & Toubro, and InterGlobe Aviation were down around 2?ch.

Defence stocks Bharat Dynamic and Mazagon Dock Shipbuilders were the top gaining stocks in the Nifty 200 index. These stocks rose nearly 6% and nearly 5%. Meanwhile, PB Fintech was the worst-hit stock in both the Nifty 200 and Nifty 500 indices, down 4%. Jupiter Wagons was the top gaining stock in the Nifty 500, up over 15%. (Adhithya Aji)

Equity Alert: Defence cos up; DCX Systems surges on INR-680.5-mln order win

MUMBAI--1315 IST--Shares of defence companies continued to rise Friday amid escalating hostilities in West Asia. The Nifty India Defence index rose over 3% and has risen 4.5% since Saturday when the US and Israel struck Iran. Barring Cyient DLM, all constituents in the sectoral index traded higher. DCX Systems performed particularly well, buoyed by an INR 680.5 million order win from defence major Hindustan Aeronautics.

The company informed investors of this order via an exchange filing Thursday. This order is to manufacture and supply custom-made antenna and power supplies for airborne applications. Shares of the company rose over 17% to a one-month high of INR 208.49 on the NSE. More than 36 million shares of the company changed hands on the NSE by 1304 IST.

Shares of Bharat Electronics were up 2.6%, rising the most among Nifty 50 constituents. Other defence companies such as MTAR Technologies, Bharat Dynamics, Data Patterns (India), and Paras Defence and Space Technologies were up 5–6%. Shares of defence companies generally rise in conditions of elevated global tensions as the security preparedness of countries comes into focus. (Eshitva Prakash)

Equity Alert: UBS says InterGlobe's earnings sensitive to US-Iran conflict

MUMBAI--1217 IST--Global brokerage UBS is of the view that the earnings of InterGlobe Aviation is sensitive to the ongoing military action between the US and Iran. The brokerage said the ongoing hostilities are likely to weigh on the IndiGo operator's available seat kilometre in the near term, NDTV Profit reported, citing UBS. Available seat kilometre measures passenger carrying capacity by multiplying the total number of available seats by the kilometres flown.

UBS maintained a 'buy' recommendation on the stock but trimmed the target price nearly 13% to INR 5,480 from INR 6,170. The surge in crude oil prices poses additional earnings risk to the company, UBS said. Moreover, the depreciation of the rupee against the dollar may pose medium-term headwinds, according to the brokerage. On Wednesday, the company said that it had to cancel more than 500 flights to West Asia and other select international destinations amid the hostilities between the US and Iran.

At 1207 IST, shares of InterGlobe Aviation fell over 2% to INR 4,409.90. Over 740,000 shares of the company changed hands on the NSE, which is lower than over 1 million shares traded till the same time Thursday. The stock has shed over 9% since the beginning of the US-Iran hostilities in West Asia. (Adhithya Aji)

Equity Alert: Indices remain lower with banking shares as major laggards

MUMBAI--1040 IST--Benchmark indices remained lower with shares of banks as the major laggards. Meanwhile, defence and information technology shares gained. The heavyweight stocks – HDFC Bank and ICICI Bank continued to weigh on the Nifty 50. These stocks were down around 2?ch.

At 1038 IST, the Nifty 50 was at 24621.30 points, down 144.60 points, or 0.6% and the BSE Sensex was at 79520.30 points, down 495.6 points, or 0.6%.

Bharat Electronics was the top gainer in the Nifty 50, rising nearly 3%. Shares of the heavyweight Reliance Industries were up over 2%. Information technology companies Wipro, HCL Technologies, Infosys, Tech Mahindra, and Tata Consultancy Services were up around 1%. Hindalco Industries and NTPC were up nearly 2?ch.

ICICI Bank was the worst hit stock in the index. Shares of ICICI Bank fell after one million shares of the company changed hands in a large deal aggregating to INR 1.36 billion. The deal was executed at a discount of 1.4% to the stock's closing price Thursday. Shares of Axis Bank were down over 2%. Financial services companies HDFC Life Insurance Co., Max Healthcare Institute, Bajaj Finserv, Bajaj Finance, and Kotak Mahindra Bank were down 1-2%. Shares of Larsen & Toubro and InterGlobe Aviation fell nearly 2?ch as well.

Nifty India Defence rose nearly 3% to be the top gainer among the sectoral indices. All the constituents in the index were traded higher. Mazagon Dock Shipbuilders, Bharat Dynamics, Mtar Technologies, Mishra Dhatu Nigam, and Data Patterns (India) were up 5-7%. Mazagon Dock Shipbuilders continued to be the top gaining stock among the Nifty 200 constituents.

PB Fintech was the worst hit stock in the Nifty 200. The stock fell nearly 3%. Shares of Godrej Properties fell over 3% in the index. In Nifty 500, Jupiter Wagons was the top gainer in the Nifty 500. The stock rose nearly 13%. Vedant Fashions was the worst hit stock in index, down over 4%. (Adhithya Aji)

Equity Alert: ICICI Bk hits 4-month low after 1-mln-share large deal on NSE

MUMBAI--1025 IST--Shares of ICICI Bank fell nearly 3% to a four-month low of INR 1,320.30 after more than 1 million shares of the company changed hands in a large deal on the National Stock Exchange. The deal was executed at INR 1,339 per share, a discount of 1.4% to the stock's closing price Thursday. The details of the buyer are not known.

At 1008 IST, shares of ICICI Bank traded over 2% lower at INR 1,329.40 and were the worst hit on the Nifty 50 index. So far in the session, nearly 8 million shares of the company have changed hands on NSE, nearly eight times the 966,087 shares traded till the same time Thursday. This was, however, lower than the stock's three-month average volume of around 13 million shares.

All 16 research reports on the bank available with Informist, have a 'buy' or equivalent recommendation on the stock with an average target price of INR 1,721. The target price indicates an over 29% upside from current market price. (Arya S. Biju)

Equity Alert: Mazagon Dock up 9%;co completes talks for INR-990-bln contract

MUMBAI--0956 IST—Shares of Mazagon Dock Shipbuilders rose over 9% to INR 2,560, their highest level in over a month. The stock after the company Thursday confirmed that the contract committee negotiations for the INR-990-billion defence contract with the Indian Navy have been completed. With this completion of negotiations with the government, the proposal has been taken up for approval of the competent authority, the company said in an exchange filing.

This contract, once finalised, would be the largest contract for Mazagon Dock, significantly increasing its order-book, which has declined over the past 5-6 years, ICICI Direct Research said in a report. As of December, the company's order book was INR 237.58 billion compared to INR 497.00 billion at the end of 2020-21 (Apr-Mar). Decline in order backlog has been the key concern for Mazagon Dock, which, in turn, had led to a moderation in revenue growth in the last few quarters, the brokerage said. "We believe that, revenue growth will pick up considerably from FY28 onwards, once the execution begins," ICICI Direct Research said.

At 0949 IST, the stock was up nearly 8% at INR 2,539.60 on the National Stock Exchange and was the top gainer in the Nifty 200 index. So far in the session, nearly 5 million shares of the company have changed hands on the NSE, compared to the 167,448 shares traded till the same time Thursday. The two research reports on the company available with Informist has a 'buy' call on the stock. (Arya S. Biju)

Equity Alert: Indices open lower amid US-Iran hostilities; ICICI Bank down 2%

MUMBAI--0944 IST--Benchmark indices opened lower amid escalating military action in West Asia. Higher crude oil prices continued to weigh on sentiment across global markets, with Wall Street indices ending lower Thursday and Asian markets opening mixed Friday. The Nifty 50 was weighed down by the heavyweight banking stocks, HDFC Bank and ICICI Bank, which were down over 1% and 2%, respectively.

At 0937 IST, the Nifty 50 was at 24659.55 points, down 106.35 points or 0.4%, and the BSE Sensex was at 79663.04 points, down 352.86 points or 0.4%.

Defence stock Bharat Electronics was the top gainer among Nifty 50 constituents, up nearly 2%. Information technology shares were the major gainers in the index. HCL Technologies, Infosys, Wipro, Tata Consultancy Services, and Tech Mahindra rose 1-2%. The heavyweight Reliance Industries was up nearly 2%. Shriram Finance, NTPC, Power Grid Corp. of India, and Trent rose around 1?ch.

Meanwhile, InterGlobe Aviation and ICICI Bank were the worst-hit stocks in both the Nifty 50 and Nifty 200 indices. Shares of InterGlobe Aviation were down over 2%. Shares of Larsen & Toubro fell nearly 2% as well. L&T and InterGlobe Aviation fell amid the continuing hostilities in West Asia, which led to disruption in the operations of these companies. Larsen & Toubro's order book has significant exposure to West Asia, while, due to the ongoing missile attacks in the region, InterGlobe Aviation had to cancel its flights to these countries.

Max Healthcare Institute, Coal India, Axis Bank, UltraTech Cement, Bajaj Finserv, Tata Steel, Maruti Suzuki India, HDFC Life Insurance Co., and Bharti Airtel were down 1-2%.

Mazagon Dock Shipbuilders was the top gaining stock in the Nifty 200. It was up 7%. The company said that contract committee negotiations for a INR-990-billion defence contract with the Indian Navy have been completed, and the proposal has been taken up for approval of the competent authority. Shares of its defence peer Bharat Dynamics rose over 5%.

In the Nifty 500, Kirloskar Brothers was the top gaining stock, up over 8%. In contrast, Force Motors was the worst-hit stock, down nearly 3%. (Adhithya Aji)

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)

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)

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)

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 91.68

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.

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