Equity Alert
Indices remain lower; banks pull Nifty 50 down
This story was originally published at 12:38 IST on 7 April 2026
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Equity Alert: Indices remain lower; banks pull Nifty 50 down
MUMBAI--1200 IST--Benchmark indices remain in the red with most of the Nifty 50 constituents seen declining. However, shared of Infosys, Tata Consultancy Services, and Bharti Airtel helped the index arrest some of its losses. Meanwhile, heavyweights HDFC Bank, ICICI Bank, and Reliance Industries continued to exert selling pressure on the 50-stock index.
At 1155 IST, the Nifty 50 was at 22951.35 points, down 16.90 points, or 0.1%, while the BSE Sensex was at 74050.87 points, down 55.98 points, or 0.1%. The advance-decline ratio, however, remained titled towards the gainers. Of the 3,129 stocks traded on the National Stock Exchange, nearly 62% traded in the green. Among the broader market indices, the Nifty Smallcap indices failed to hold on to their gains while the mid-cap indices fell further. The Nifty 50-constituent Max Healthcare Institute fell a little over 3% to its 52-week low of INR 903.
Among the sectoral indices, the Nifty IT index continued to hold the fort, driven by HCL Technologies and Wipro. The Nifty Realty and the Nifty Metal indices maintained gains. Barring two, all stocks in the Nifty Realty index rose. Shares of Oberoi Realty and Prestige Estates Projects were up 2.2-2.8%.
Stoks of several companies rose after they reporting their earnings estimates for the quarter ended March. Jubilant Foodworks was the top laggard in the Nifty 200 and the Nifty 500 universe; shares of the company tumbled over 9% to their 52-week low. The move came after the company said the like-for-like sales growth of Domino's India is seen to be flat in the March quarter. At 1159 IST, shares of Jubilant Foodworks were around 9% lower at INR 419.75.
Meanwhile, shares of microfinance company CreditAccess Grameen rose almost 10% to hit an intraday high of INR 1,298 before paring some gains. The company's disbursements rose 28% on year in the quarter ended March, and 24% on year in 2025-26 (Apr-Mar). Shares of Shyam Metalics and Energy were also up almost 5% during the Tuesday session after the company said it sees its consolidated steel sales going up 59% on year to 10,519 tonnes in the March quarter. (Ruchira Kagita)
Equity Alert: JP Morgan raises target price for Hindalco Industries, Vedanta
MUMBAI--1135 IST--global brokerage JP Morgan has upgraded its recommendation for Hindalco Industries and Vedanta to overweight from neutral on expectation of substantial earnings growth from higher aluminium prices on the London Metal Exchange. The brokerage has also raised its target price for the companies on expectation of the West Asia conflict keeping the aluminium prices higher for long term.
The target price for Hindalco Industries has been raised by nearly 29% to INR 1,125 and that of Vedanta by 25% to INR 850. The risk reward for Vedanta is seen attractive, with energy inflation not being a major concern, NDTV Profit reported, quoting the brokerage. The brokerage also expects Hindalco's India business tailwinds to ease its debt concerns.
The recent smelter outages are expected to last for months even after shipping returns, CNBC-TV18 posted on its X account. Hindalco Industries-run Novelis' Oswego plant has started its operations, and is expected to have a better performing 2026-27 (Apr-Mar). Hindalco will likely have an improved earnings trajectory in its copper business, CNBC-TV18 posted, quoting the brokerage.
At 1132 IST, shares of Hindalco Industries and Vedanta were up nearly 3% and over 3%, respectively. So far, over 7 million shares of Hindalco Industries have changed hands on the exchange, and 14 million shares of Vedanta. (Arundathi A R)
Equity Alert: Indices off intraday lows; IT stocks lend support to Nifty 50
MUMBAI--1102 IST--Benchmark indices pared their early losses but continued to move with a negative bias with the Nifty 50 index witnessing some selling pressure near the 22960 level. Information technology stocks extended gains, pushing the 50-stock index off the intraday lows. In the broader market, mid-cap indices remained down 0.2% while the small-cap indices were in the positive territory. At 1048 IST, the Nifty 50 was at 22951.40, down 16.85 points, or 0.1% and the BSE Sensex was at 74015.18, down 91.67 points or 0.1%.
Among the sectoral indices, the Nifty IT index outperformed its peers to gain almost 1.6% and it was closely followed by the Nifty Metal. All the stocks in the Nifty IT were in the green. Shares of Wipro, Mphasis, HCL Technologies, and Oracle Financial Services were up 2-3%. On the other hand, financial servics companies reeled under pressure. The Nifty PSU Bank index was the top sectoral loser so far. Most of the public sector banks included in the sectoral index fell intraday with Bank of India, Union Bank of India, and Punjab National Bank losing around 2-3%.
Among the constituents of the benchmark 50-stock index, Hindalco Industries, Wipro, and HCL Technologies gained the most while Max Healthcare Institute, Mahindra & Mahindra, InterGlobe Aviation, and Dr. Reddy's Laboratories were the top laggards.
Shares of Wipro were up over 2.5?ter the company received an order worth $1 billion from Singapore-based food processing major Olam Group Monday. Hindalco Industries, along with Vedanta, rose after brokerage JPMorgan Chase upgraded its stance on both stocks to "overweight" from "neutral". Hindalco was up 3.5% while Vedanta rose over 4% to be the top gainers in the Nifty 200 index. (Ruchira Kagita)
Equity Alert: Jubilant Foodworks falls 9%; Domino's India Q4 growth flat
MUMBAI--1100 IST--Shares of Jubilant Foodworks fell nearly 9% to a 52-week low of INR 420.30 after Domino's India recorded like-for-like growth of 0.2% during the quarter ended March. The company's standalone revenue for the March quarter stood at INR 16.86 billion, up 6.2% on year.
On a standalone basis, the company's revenue from operations for 2025-26 (Apr-Mar) grew nearly 13% on year to INR 68.88 billion. The company added 59 new Domino's Pizza stores in India in the final quarter of FY26, taking its Domino's store count in India to 2,455. Overall, Jubilant Foodworks added 69 stores on a net basis across its group network, taking the total store count to 3,663 as of Mar. 31.
Brokerage Motilal Oswal had estimated Jubilant's net profit at INR 634 million on revenue of INR 17.65 billion. The brokerage had estimated number of Domino's stores in India as on Mar. 31 at 2,429 stores.
At 1100 IST, shares of the company were over 8% lower at INR 422.25 on NSE. So far, over 10 million shares of the company changed hands on the exchange, higher than nearly 781,000 shares traded till the same time Monday.
Of the nine brokerage reports on Jubilant Foodworks available with Informist, seven have a 'buy' recommendation on the stock at a target price of INR 730 per share and two brokerages have a 'hold' recommendation on the stock. (Prateem Rohanekar)
Equity Alert: Gallantt Ispat jumps 14?ter Q4 output, sales rise 9?ch
MUMBAI--1020 IST--Shares of Gallantt Ispat rose as much as 14% to a near five-month high of INR 643.70. The stock rose after the company said its steel production and sales rose 9?ch on year to 240,000 tonnes and 230,000 tonnes, respectively, in the March quarter.
The integrated steelmaker's pellet production jumped 59% on year to 221,612 tonnes in the March quarter, while sponge iron output rose 38% to 244,555 tonnes, the company said in a quarterly business update post market hours Monday. Billet and mild steel bar production grew 9% on year each to 235,212 tonnes and 210,243 tonnes, respectively. Revenue from the company's billet sales increased 30% on year in the quarter, while the mild steel bar segment saw 8% on-year revenue growth. During the quarter, the company generated 223,789 mega units of power, up 14% on year. Its capacity utilisation was 91% at the end of the March quarter and 86% in 2025-26 (Apr-Mar).
At 1007 IST, the stock traded over 12% higher at INR 633.60 and was the top gainer in the Nifty 500 index. So far in the day, over 4 million shares of the company changed hands on the National Stock Exhange, compared to the 40,828 shares traded till the same time Monday. (Arya S. Biju)
Equity Alert: Market opens with losses Tue as West Asia conflict escalates
MUMBAI--0955 IST--After three consecutive sessions of closing higher, domestic headline indices reversed gains and opened lower Tuesday as US President Donald Trump's deadline for Iran to reopen the Strait of Hormuz neared. Crude oil prices also showed no signs of easing, crossing $111 per barrel. Less than 15 Nifty 50 constituents managed to trade higher at open.
Trump warned of the "complete demolition" of Iran's power plants and bridges in a matter of hours if the Strait of Hormuz wasn't fully reopened by the deadline of Tuesday, Al Jazeera reported. According to Trump, Iran's response to the US ceasefire proposal, conveyed through intermediaries, was "significant" but "not good enough", reports said. US Defence Secretary Pete Hegseth said US forces would carry out more strikes on Iran Monday than on any other day since the war started, with plans to further escalate them Tuesday. At 0956 IST, the June contract of Brent Crude oil was up nearly 2% at $111.60 per barrel.
Foreign institutional investors continued to be net sellers Monday, offloading shares worth INR 81.67 billion. "FPI selling is purely short-term guided only by the weakness in the rupee and high bond-yields in the US," V.K. Vijayakumar, chief investment strategist at Geojit Investments, said in a note.
At 0928 IST, the Nifty 50 was 0.4% lower at 22881.15, down 87.10 points. The BSE Sensex was at 73813.30, down 293.55 points or 0.4%. The 50-stock index gained almost 3% during the previous three straight sessions. The broader market also performed poorly at the open, in line with their benchamark peers. The Nifty smallcap and the Nifty midcap indices were down 0.3-1%. Barring the Nifty IT, the Nifty Metal, and the Nifty Realty, all other sectoral indices were down 0.4-1.4%. However, India VIX, the fear gauge of domestic equity market, showed there was only little nervousness among investors. The volatility index was up only 0.5% at 25.6225.
Max Healthcare Institute and Interglobe Aviation were the top two losers in the 50-stock index, down around 2%. Automobile stocks such as Mahindra & Mahindra, Eicher Motors, Tata Motors Passenger Vehicles also were in the top list of Nifty 50 losers, shedding 1-2%. The Nifty Auto lost the most among sectoral indices, down 1.5%.
Apart from automobile stocks, banking and financial services stocks also logged lossed during early trade. Axis Bank, SBI Life Insurance Co., and State Bank of India were down around 1%.
However, select information technology companies gained during. Wipro, HCL Technologies, Tech Mahindra, Tata Consultancy Services, Infosys gained among the 50-stock constituents. They were up 2.5-0.2%.
Hindalco Industries was the top gainer among Nifty 50 stocks, up almost 3%. The stock was up for the fifth straight session, and gained over 11% during this period. (Arundathi A R)
Equity Alert: Sentiment in Asia weakens as West Asia tensions linger
MUMBAI--0814 IST--Sentiment in Asian stock markets weakened as hope of a deal between the US and Iran faded and Brent crude oil futures rose over 1% to around $111 per barrel. South Korea's Kospi fell sharply compared to its peer indices, down over 2.5%. The stock market in Hong Kong remains closed Tuesday.
US President Donald Trump threatened to intensify attacks on Iran if it failed to reopen the Strait of Hormuz. Trump iterated his threat to target Iran's bridges and electric plants. "Iran can be taken out in one night, and that might be tomorrow night," Trump said, while adding that Iran was "negotiating in good faith".
Shares of Kospi heavyweight Samsung Electronics Co gained almost 5% in early trade after the company estimated a record profit in the quarter ended March. The electronics major sees its profit surging eightfold on year to 57.2 trillion won. Samsung estimated its consolidated revenue rising 70% on year to 133 trillion won. Shares of Samsung, however, pared some of those gains and at 0830 IST, were up 1%.
Meanwhile, Japanese households' monthly expenditure fell 1.8% on year in February, significantly more than Reuters' estimate of a 0.7?ll. While incomes rose during the month, the average propensity to consume declined slightly. "Although real income has risen, it's not immediately affecting consumption," Yukihiro Morita, chief economist at Meiji Yasuda Research Institute, told The Japan Times. Japan's Nikkei 225 and Topix witnessed some selling pressure in early trade.
Following were the levels of major Asian indices at 0817 IST:
|
Index |
Level |
Change in % |
| CSI 300 Index | 4446.8541 | 0.14 |
| Nikkei 225 Day | 53269.49 | (-)0.27 |
| TOPIX FIRST SECTION | 3643.9 | (-)0.02 |
| KOSPI | 5455.72 | (-)2.33 |
| FTSE Singapore Strait Times | 4961.54 | (-)0.22 |
| S&P/ASX 200 INDEX | 8696.8 | 1.37 |
(Ruchira Kagita)
Equity Alert: Indices may open flat tracking global cues, crude prices
MUMBAI--0811 IST--Benchmark equity indices are expected to open largely flat, tracking US stock futures which were trading with minor losses early Tuesday, as US President Donald Trump's deadline for Iran to reopen the Strait of Hormuz approached. Crude oil prices continued to rise as Trump reiterated his threat on Iran during a White House briefing late Monday. "The entire country can be taken down in one night and that night might be tomorrow night," he said.
Over the weekend, Trump had issued a fresh round of threats to attack Iran's power plants and civilian infrastructure, if Tehran failed to fully reopen the Strait of Hormuz by Tuesday. On Monday, equity markets had cheered reports that Pakistan had sent the framework of a plan to the US and Iran, calling for a 45-day ceasefire and reopening of the Strait of Hormuz. However, Iran rejected the proposed plan and emphasised the necessity of a permanent end to the war, IRNA news agency said Monday. The Iranian response consisted of 10 clauses, including an end to conflicts in the region, a protocol for safe passage through the critical waterway, lifting of sanctions, and reconstruction, the agency added.
Trump responded saying the counteroffer by Iran wasn't good enough, though he also said Monday that negotiations were going "fine," Dow Jones Newswires reported. Additionally, US defence secretary Pete Hegseth said that US forces would carry out more strikes on Iran Monday than on any other day since the war started, with plans to further escalate them Tuesday. Meanwhile, Iran's Islamic Revolutionary Guard Corps Monday pledged to carry out an attack avenging the assassination of its intelligence chief, Major General Majid Khademi, who it says was killed by a US-Israeli attack earlier Monday, Al Jazeera reported.
At 0758 IST, the Gift Nifty traded at 22887, a discount of nearly 81 points to the Nifty 50's previous close, indicating a slightly negative start for the market. In the previous session, the Nifty 50 index witnessed a sharp recovery in the second half and closed near the 23000 mark, which is expected to act as a strong hurdle for the index in the near term, Sundar Kewat, technical and derivative analyst at Ashika Institutional Equities, said. He expects the index to see selling pressure at the 23000 point level, potentially dragging it back towards the 22500 points. However, if the Nifty 50 manages to break above 23000 points and sustain at higher levels, it would move further up towards the 23500 mark, he said. (Arya S. Biju)
Equity Alert: Wall Street indices close with gains Mon amid West Asia tensions
MUMBAI--0747 IST--Indices on Wall Street managed to hold on to gains Monday even as there were little signs of an end to the US-Iran war. US President Donald Trump reiterated his threats against Iran if it failed to reopen the Strait of Hormuz.
"We have to have a deal that's acceptable to me, and part of that deal is going to be we want free traffic of oil and everything," Trump said. "The entire country can be taken out in one night – and that night might be tomorrow night," he threatened on Monday. Brent crude oil futures ticked up slightly to $111 per barrel again on Tuesday, and the e-Mini Dow Futures were slightly down.
On Monday, major indices in the US ended 0.4-0.5% higher. Shares of Tesla, Nvidia, Micron Technology were among some of the most actively traded stocks on the Nasdaq. Shares of Tesla fell over 2% Monday.
Meanwhile, the US Services Purchasing Managers' Index for March came down to 54.0 from 56.1 in February. Input prices paid by businesses increased by the highest level in more than 13 years. Services employment dropped to the lowest level since the end of 2023.
Following are the closing levels of US indices Monday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6611.83 | 0.44 |
|
NASDAQ Composite |
21996.337 | 0.54 |
|
Dow Jones Industrial Average |
46669.88 | 0.36 |
(Ruchira Kagita)
US$1 = INR 92.95
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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