Equity Alert
Indices stay up, buoyed by healthcare, IT, financial stocks
This story was originally published at 14:48 IST on 15 April 2026
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Equity Alert: Indices stay up, buoyed by healthcare, IT, financial stocks
MUMBAI--1431 IST--Indices stayed higher as stocks of healthcare, information technology, and financial services companies remained up. InterGlobe Aviation continued to be up 5% and was the top gainer in the benchmark Nifty 50 index amid easing crude oil prices and the possibility of a diplomatic resolution to the US-Iran war.
Conversely, Dr. Reddy's Laboratories Ltd. stayed in the red, down 1.4%. Monday, the Brazilian National Health Surveillance Agency, ANVISA, rejected the company's semaglutide generic, Embeltah. The health agency said Embeltah did not meet the required efficacy, safety, and quality standards. Brokerage Citi maintained a "sell" stance on the stock due to uncertainty regarding the company's potential in the semaglutide market.
At 1348 IST, the Nifty 50 was up 1.5% at 24201.05 points. The BSE Sensex was also 1.6% higher at 78027.03 points. Index heavyweight Reliance Industries continued to be up 2%. HDFC Bank was also 2% higher while its index heavyweight peer ICICI Bank remained in the red.
The broader-market indices, too, sustained their rise and remained 2% higher, continuing to outperform the benchmark indices. All sectoral indices remained in positive territory. The Nifty IT index maintained its rise of over 2%. Banking indices extended their gains a little but their rise remained the lowest among sectoral indices.
ICICI Prudential Asset Management Co. was the worst-hit stock in the Nifty 200 and the Nifty 500 indices. Monday, the company had released its earnings for the March quarter, reporting 17% sequential decline in its bottom line to INR 7.63 billion. It had also reported negative other income of around INR 890 million driven by mark-to-market losses on account of the fall in stock prices following the outbreak of hostilities in West Asia.
In the Nifty 500, shares of RailTel Corp. of India climbed further to become the highest gainer, up 16%. Tuesday, the company had received letters of approval for orders worth INR 5.64 billion from Rail Vikas Nigam Ltd., to be executed over two years. (Shruti Nair)
Equity Alert: Indus Towers falls; Jefferies cuts stock to underperform vs buy
MUMBAI--1345 IST--Indus Towers fell 3.5% to an intraday low of INR 423 Wednesday, a day after global brokerage Jefferies double-downgraded its recommendation on the stock to 'underperform' from 'buy'. The brokerage also slashed its target price by 30% to INR 375, citing emerging risks around tower contract renewals and continued pressure from elevated capital expenditure, according to several media reports.
The brokerage said around 10% of the company's towers that were deployed in 2016 and 2017 are up for renewal over the second half of 2026 and early 2027. These renewals come at a time when industry-wide tower additions are moderating, potentially intensifying competition among tower companies to retain tenants. This factor may force Indus Towers to either offer discounts to retain clients such as Bharti Airtel and Vodafone Idea or risk losing them to competitors. Even a limited discount to one operator could cascade across the entire tenant base, impacting revenues more broadly, according to the brokerage.
If 25% of such towers are not renewed, it will lead to a 2.0–2.5% reduction in revenue and earnings before interest, tax, depreciation, and amortisation estimates for 2026–27 (Apr–Mar) and FY28, Jefferies said. The brokerage has slashed its net profit estimates for the company by up to 6%, reflecting both the renewal uncertainty and higher depreciation costs stemming from increased capital spending, according to The Economic Times.
Despite a nearly 30% fall in tower additions during the first nine months of FY26, the company's overall capital expenditure rose sharply, driven by a surge in maintenance spending and continued investments in energy infrastructure such as solar solutions and lithium-ion batteries, the brokerage said. The company's maintenance capital expenditure alone has nearly doubled year-on-year, indicating an ageing tower portfolio that will require sustained upkeep, Jefferies said. The brokerage expects an overall capital expenditure in the range of INR 720 billion to INR 800 billion annually over FY26 to FY29, which will limit free cash flow generation. This, in turn, is expected to lower payouts through dividends, with Jefferies estimating free cash flow at only INR 15–INR 19 per share over FY27–FY29.
The brokerage expects Indus Towers to deliver just 4% compounded annual growth rate in revenue and 3% earnings growth over FY26 to FY29, with EBITDA margin likely to remain largely range-bound. The limited growth visibility, combined with renewal-related risks, could restrict any meaningful re-rating of the stock, the brokerage said. (Eshitva Prakash)
Equity Alert: Most markets in Asia gain amid hopes of US-Iran peace talks
MUMBAI--1340 IST--Indices in Asia largely gained Wednesday amid renewed hopes of a peace deal between the US and Iran. Brent Crude Oil futures hovered near the $95-per-barrel level, largely unchanged from Tuesday. Media reports said the US and Iran could hold a second round of peace talks in the next couple of days. Earlier, the US had issued a statement saying Israel and Lebanon will initiate direct talks with each other.
China's finance ministry said it will issue 15.50 billion yuan-denominated treasury bonds in Hong Kong on Apr. 22, the South China Morning Post reported. This is the largest such issuance since 2023. The size of the bond is equivalent to $2.26 billion. On Wednesday, China's benchmark CSI 300 Index was marginally down after opening higher.
Japan's Nikkei 225 moved in range throughout the trading session, though 130 of the total stocks in the index gained. Meanwhile, South Korea's benchmark index KOSPI rose over 2% with gains in heavyweight stocks. Shares of Samsung Electronics Co. rose 2% and those of SK Hynix rose 3%. South Korea's broader market index KOSDAQ outperformed the benchmark index and closed 2.7% higher.
In South Korea, the rate of unemployment decreased slightly to 3% on year in March, while the economically active population grew 0.6% to 29.68 million. The participation rate of labour force in the South Asian country remained unchanged in March.
Following were the levels of major Asian indices at 1406 IST:
Index | Level | Change in % |
| CSI 300 Index | 4685.2464 | (-)0.34 |
| Hang Seng Index | 25961.83 | 0.35 |
| Nikkei 225 Day | 58134.24 | 0.44 |
| TOPIX FIRST SECTION | 3770.33 | 0.40 |
| KOSPI | 6091.39 | 2.07 |
| FTSE Singapore Strait Times | 5014.82 | 0.15 |
| S&P/ASX 200 INDEX | 8978.70 | 0.09 |
(Ruchira Kagita)
Equity Alert: Billionbrains hits record high; BofA starts coverage with 'buy'
MUMBAI--1323 IST--Shares of Billionbrains Garage Ventures hit an all-time high of INR 212.90 Wednesday after global brokerage BofA initiated coverage on the stock with the target price over 10% higher from the record high. At 1321 IST, the stock was 7.2% higher at INR 208.81 and was the top gainer in the Nifty 200 index.
BofA Securities initiated coverage on the stock with a 'buy' recommendation and a target price of INR 235, citing strong positioning for India's retail investing, according to a post by CNBC-TV18 on X. The brokerage expects the company to report a 30% compound annual growth rate in revenue over 2025-26 (Apr-Mar) to FY28. The growth is expected to be on the back of operating leverage, according to the post.
The stock continues to trade in the green for the fifth consecutive session Wednesday, gaining nearly 28% over this period. So far Wednesday, over 104 million shares of the company have changed hands on the NSE, sharply higher than over 38 million shares traded during the same period Monday.
Motilal Oswal Financial Services also has a 'buy' recommendation on the stock with a target price of INR 190, implying a near 11% downside to the stock's record high. (Simran Rede)
Equity Alert: Dr. Reddy's top loser in Nifty 50; Citi maintains 'sell'
MUMBAI--1253 IST--Shares of Dr. Reddy's Laboratories fell over 3% to their intraday low of INR 1,195.40 Wednesday, becoming the top laggard in the benchmark Nifty 50 index. The move comes after the Brazilian National Health Surveillance Agency, ANVISA, rejected the company's semaglutide generic, Embeltah, on Monday. The Brazilian health agency said Embeltah did not meet the required efficacy, safety, and quality standards. There are 16 registration requests for semaglutide in Brazil, ANVISA said in the news release.
Brokerage Citigroup Inc. maintains a cautious stance on Dr. Reddy's potential in the semaglutide market, given this recent development in Brazil and Canada-based Apotex getting tentative approval for the drug in the US. Apotex may have a first-mover advantage for semaglutide in the Canada market, the brokerage said in a report. Novo Nordisk's competitive pricing strategy may also play out negatively for Dr. Reddy's, the brokerage highlighted. Citi maintains a 'sell' stance on the stock with a target price of INR 1,070.
At 1232 IST, shares of the company were 1.5% lower at INR 1,217.80 on the NSE. So far in the day, nearly 3 million shares of the company have changed hands on the exchange, higher than nearly 593,000 shares traded till the same time Monday. (Ruchira Kagita)
Equity Alert: InterGlobe Aviation top Nifty 50 gainer; easing oil price aids
MUMBAI--1250 IST--Shares of InterGlobe Aviation rose 5% to a high of INR 4,659 Wednesday amid easing prices of crude oil on hope of a likely diplomatic solution to US-Iran war. The stock has been under pressure ever since the West Asia war began, as rise in crude oil prices leads to a spike in airlines' expenses substantially. At 1246 IST, shares of the company were at INR 4,640, up 4.8%. The current price is around 3% away from pre-West Asia war level.
US President Donald Trump Tuesday hinted that there are possibilities of a diplomatic solution to the West Asia war, which also led to a rally across equity markets in Asia. Trump said the US-Iran peace talks could resume in Islamabad over the next two days.
Since the war began, the IndiGo operator's share price has declined 19%. It fell to a low of of INR 3,895.20 during the end of March. Since then it has remained in a range of INR 4,000-4,600. There have been concerns that high crude oil prices will have a material impact on the company's books. The company had announced a surge charge on both domestic and international flights in early April. Some analysts had estimated around 20% rise in the base fare as compared to 50% rise in blended fuel costs. (Gopika Balasubramanium)
Equity Alert: Indices maintain gains; InterGlobe Aviation stays top gainer
MUMBAI--1210 IST—-Benchmark indices held onto their intraday gains, led by a rise in diverse stocks. Nearly all constituents in the Nifty 50 were in the green with shares of healthcare, select automobile, and financial services companies enjoying the highest gains. Shares of information technology companies also saw appreciable gains.
At 1213 IST, the Nifty 50 was up 1.6% at 24228.05. The BSE Sensex was also 1.6% higher at 78080.03. InterGlobe Aviation continued to be the highest gaining stock on the Nifty 50 index as crude oil prices remained below the $95 per barrel level. Shares of the company were up nearly 5%, though they slightly moderated from its opening highs.
Shares of Shriram Finance were up nearly 3% and were one of the highest gainers among financial service companies. Tuesday, Fitch Ratings upgraded the company's long-term foreign and local currency issuer default ratings to 'BBB-' from 'BB+', and kept a 'stable' outlook for the company. The rating agency also upgraded the company's short-term issuer default rating to 'F3' from 'B' and removed the company from 'rating watch positive'. The rating upgrade and removal from 'rating watch positive' after MUFG Bank completed the acquisition of a 20% stake in Shriram Finance. Shares of its peers, Bajaj Finance, Jio Financial Services, and Bajaj Finserv rose over 2%.
Tata Consultancy Services was up 3% and led the gains in the Nifty 50 IT stocks. Favourable March quarter results reported by the IT bellwether on Thursday boosted the performance of IT stocks, said Rishubh Vasa, a research analyst covering IT and banking at Indsec Securities and Finance. TCS' consolidated net profit rose around 29% on quarter and over 12% on year to INR 137.18 billion for the March quarter.
Among index heavyweights, HDFC Bank and Reliance Industries were up 2% each and continued to support the 50-stock Nifty index. However, their peer, ICICI Bank, was marginally down and was among the few stocks to trade lower in the index. State-owned energy company Coal India was also among the losers in the index and was down marginally. Dr Reddy's Laboratories was the worst-hit stock in the index, down over 1%.
Broader market indices extended their gains and continued to outperform their benchmark peers, with Nifty smallcap and midcap indices gaining over 2%. The volatility index, India VIX, remained lower and was down 9% at 18.6275, touching its lowest level in over a month.
All sectoral indices were in the green with the Nifty Consumer Durables and the Nifty Realty indices witnessing the highest gains, climbing nearly 3%. All banking indices rose over 1% and were among the lowest gaining sectoral indices. (Shruti Nair)
Equity Alert: ICICI Prudential Life rises 7% after co's Q4 PAT grows 58% YoY
MUMBAI--1137 IST--Shares of ICICI Prudential Life Insurance Co. rose 7% to the day's high of INR 584.75 after the company Tuesday reported a 58% on-year jump in its net profit for the March quarter. The stock was up for the sixth session in the past seven days.
The insurance company reported a net profit at INR 6.09 billion for Jan-Mar, which was the highest jump in four quarters. On a sequential basis, it was a jump of 56%. Its net premium income for the reporting quarter rose 17% on year and more than 62% on a sequential basis to INR 191.80 billion.
The company's efforts towards the product mix shift and an increase in retail protection contribution have resulted in a continuous on-year expansion in its value of new business margin, despite a loss of input tax credit after goods and services tax exemption, Motilal Oswal said in its report. "In the long term, the company's profitability will be supported by higher volumes, driven by GST exemption, increased traction of non-linked products, and improved product-level margins," the brokerage said in the report.
Brokerage PL Capital expects the company's growth to gradually improve by 8% on year in 2026-27 (Apr-Mar) and by 10% on year in FY28. However, the near-term outlook remains watchful amid macro uncertainties, the brokerage said in its report.
At 1131 IST, shares of ICICI Prudential Life were trading over 3% higher at INR 564.50 on the NSE. So far, nearly 7 million shares of the company changed hands on the exchange, higher than nearly 443,000 shares traded till the same time Monday. (Arundathi A R)
Equity Alert: Cyient jumps 9% after co's board to mull shr buyback next week
MUMBAI--1135 IST--Shares of Cyient rose 9% to a high of INR 973.95 after the company announced its board will meet on Apr. 23 to consider a proposal to buy back its shares, alongside approving the March quarter results and the final dividend for 2025-26 (Apr-Mar). At 1134 IST, the company's shares were at INR 959.35, up 7%.
This announcement comes after information technology giant Wipro on a similar note said its board will meet between Apr. 15-16 to consider buyback of shares. It was in February 2019 that Cyient repurchased its shares from shareholders, which was done through the open market. The company bought back 3.12 million equity shares in 2019 for INR 2 billion at an average price of INR 640.21 and was managed by JM Financial. (Gopika Balasubramanium)
Equity Alert: RailTel up 14.5% after INR-6-bln orders from Rail Vikas Nigam
MUMBAI--1110 IST--Shares of RailTel Corp. of India spiked 14.5% to a high of INR 325.50 after the company received orders worth around 6 billion on Tuesday from Rail Vikas Nigam. In separate filings to stock exchanges, the company informed that it bagged orders to install tunnel communication systems. The stock topped the Nifty 500 chart and at 1108 IST, it traded up 13.7% at INR 323.30. Shares of Rail Vikas Nigam were up around 4% at INR 282.
RailTel Corp. Tuesday said it had received letters of approval for orders worth INR 5.64 billion to be executed over the coming two years by Apr. 12, 2028. The company said one order is for supply and commission integrated tunnel communication system, including closed circuit television system, public announcement system, and emergency call points along a 42.7-kilometer tunnel at a cost of INR 3.09 billion. Separately, it received a letter of approval for a similar installation along a 36-km tunnel at a cost of INR 2.55 billion. (Gopika Balasubramanium)
Equity Alert: IT stocks rise; robust TCS' Q4 results support Nifty IT index
MUMBAI--1055 IST--Major information technology stocks rose in early trade Wednesday, with the Nifty IT index being the top gainer among its sectoral peers. The Nifty IT index was up nearly 3%, with all its constituents trading higher.
A good set of March quarter results reported by IT major Tata Consultancy Services on Thursday has boosted the IT stocks to perform better, according to Rishubh Vasa, a research analyst covering IT and banking at Indsec Securities and Finance. "There were no hiccups in the company's (TCS') March quarter results and deal wins are in a proper shape," he said.
TCS' consolidated net profit rose almost 29% sequentially and over 12% on year to INR 137.18 billion for the March quarter. This was slightly lower than the INR 137.78 billion estimated by the Street. The sector bellwether's consolidated revenue for the quarter rose over 5% sequentially and nearly 10% on year to INR 706.98 billion. Analysts' consensus estimate for the top line was INR 697.86 billion.
After a steep correction till mid March, the IT sector started to recover, and logged a 13% recovery in the last one month, Vasa of Indsec Securities said. "Valuations became comfortable for all the stocks in the IT sector after this recovery," he said.
At 1046 IST, HCL Technologies, Tech Mahindra, Coforge, Mphasis, LTIMindtree, Persistent Systems, Infosys, Wipro, TCS, and Oracle Financial Services were up 1.3–5.0%. (Arundathi A R)
Equity Alert: Just Dial tanks 5% amid dismal earnings show throughout FY26
MUMBAI--1045 IST--Shares of Just Dial fell over 5% to an intraday low of INR 543.05 after the company's disappointing March quarter earnings. The company's consolidated net profit fell for the third quarter in a row with flat growth in sales. The company's performance has been dismal throughout 2025-26 (Apr-Mar), with its revenue growing 1-3% till the December quarter. At 1050 IST, the stock was at INR 544, down 5%.
Just Dial's net profit for the March quarter fell over 15% sequentially to INR 1 billion. Its revenue from operations for the quarter rose a scant 0.5% to INR 3.07 billion. On a year-on-year basis, the net profit fell 36.5% but the revenue rose 6.2%. The hit to the net profit was due to a rise in total expenditure of the company, which was up nearly 3% on quarter at INR 2.31 billion, outpacing the sequential growth in revenue. For FY26, the company's net profit fell 14.9% to INR 4.97 billion, while revenue rose 6.3% to INR 12.14 billion. (Gopika Balasubramanium)
Equity Alert: Indices open sharply up as crude prices fall to $95/bbl
MUMBAI--0945 IST--Domestic headline indices opened sharply higher as crude oil prices eased to the $95-per-barrel mark after hovering at over $100 per barrel. Hope of a likely diplomatic solution to the West Asia war has supported the equity market. Indices also tracked the early gains in its Asian peers, which rose on hopes of a truce between the US and Iran. At 0921 IST, the June futures contract of Brent Crude was marginally higher at $95.08 per barrel.
US President Donald Trump has said that the US-Iran peace talks could resume in Islamabad over the next two days, The Guardian reported. The US president was speaking on Tuesday to a New York Post reporter who had gone to Islamabad for the first round of ceasefire talks over the weekend.
At 0925 IST, the Nifty 50 was 1.5% higher, or up over 360 points, at 24207.70. The BSE Sensex was 1.6% higher, or up over 1190 points, at 78045.81. Analysts expect the Nifty 50 to face strong resistance at 24300–24400 points during the session. Broader market indices slightly outperformed their benchmark peers, and were up nearly 2%. India VIX indicated an ease in nervousness among investors. The volatility index was down over 9% at 18.6050, after rising sharply for the previous session.
All sectoral indices were in the green, with the Nifty IT gaining the most. The sectoral index was up nearly 3%, with all its constituents trading higher. It was followed by the Nifty PSU Bank and the Nifty Metal, up 2% each.
Among the Nifty 50 constituents, InterGlobe Aviation was the top gainer, up over 5%. It was followed by Hindalco Industries, which rose nearly 4%. Information technology stocks also were the major gainers for the 50-stock index. Tata Consultancy Services, up nearly 3%, was the leading IT stock in the index. It was followed by Infosys, up 2.5%. Financial stocks were also trading higher, with Shriram Finance and HDFC Life Insurance Co. up around 3%.
Index heavyweights HDFC Bank and Reliance Industries gained almost 2%. However, ICICI Bank, which was down marginally, capped further gains in the 50-stock index. It was one of the four Nifty 50 constituents that was trading lower. Coal India, Oil and Natural Gas Corp., and Dr. Reddy's Laboratories were the other laggards in the Nifty 50, down 0.3-2.0%.
Shares of RailTel Corp. rose nearly 13% and was the top gaining Nifty 500 constituent. The company had received letters of approval for orders worth INR 5.64 billion from Rail Vikas Nigam, to be executed over the coming two years by Apr. 12, 2028. ICICI Prudential Life Insurance Co. was up nearly 4% as its Jan-Mar net profit rose nearly 58% on year. Among the Nifty 200 and the Nifty 500 constituents, ICICI Prudential Asset Management Co. was the key laggard, down nearly 4%. (Arundathi A R)
Equity Alert: Indices in Asia rise on hopes of peace between US and Iran
MUMBAI--0830 IST--Indices in Asia opened higher Wednesday as hopes of a truce between the US and Iran resurfaced, and Brent Crude Oil futures fell for the second consecutive day to near $95 per barrel. US President Donald Trump said Iran wanted to make a deal with the US and that the war is close to being over. "I think it's close to over, yeah. I mean, I view it as very close to over," Trump told Fox Business Network in an interview.
US Secretary of State Marco Rubio mediated talks between Israel and Lebanon on Tuesday, the first major diplomatic engagement between the two nations since 1993. Both parties will initiate direct negotiations, according to a press release by the US. "The United States affirmed that any agreement to cease hostilities must be reached between the two governments, brokered by the United States, and not through any separate track," the press release read.
On the macroeconomic front, the total value of machinery orders in Japan fell by 5% in February while the private-sector machinery orders, excluding volatile ones for ships and those from electric power companies, increased 13.6% in February.
South Korea's benchmark KOSPI gained almost 3% in early trade and outperformed its peer indices in Asia. Shares of KOSPI heavyweights Samsung Electronics Co., SK Hynix, and Hyundai Motor Co. rose 3-4%.
Following were the levels of major Asian indices at 0811 IST:
Index | Level | Change in % |
| CSI 300 Index | 4710.1506 | 0.19 |
| Hang Seng Index | 26138.54 | 1.03 |
| Nikkei 225 Day | 58139.05 | 0.45 |
| TOPIX FIRST SECTION | 3767.63 | 0.33 |
| KOSPI | 6144.15 | 2.96 |
| FTSE Singapore Strait Times | 5025.86 | 0.37 |
| S&P/ASX 200 INDEX | 8985.20 | 0.16 |
(Ruchira Kagita)
Equity Alert: Nifty 50 to see gap-up opening; support seen at 24000 pts
MUMBAI--0808 IST--Benchmark indices are expected to open higher on Wednesday tracking positive cues from their Asian peers, which rose on hopes of a likely diplomatic solution to the war in West Asia. Further, crude oil prices cooled to $94 a barrel from the highs of $99-$100 a barrel seen on Monday. Domestic markets were closed on Tuesday on account of Ambedkar Jayanti. Analysts expect volatility in the market to prevail due to continued change in stance of US President Donald Trump on the West Asia war.
In an interview with the New York Post on Tuesday, Trump praised Islamabad's role in the ongoing negotiations with Iran, saying, "You should stay there, really, because something could be happening over the next two days, and we're more inclined to go there." He added, "It's more likely, you know why? Because the field marshal (Pakistan's army chief, Field Marshal Asim Munir) is doing a great job." This comes after the peace talks between the US and Iran ended without a resolution last week, following which Trump ordered to block transit at the Strait of Hormuz. Additionally, an official from the White House told CNBC Tuesday that a second round of negotiations between Washington and Tehran was under discussion.
On Monday, foreign portfolio investors were net sellers after being net buyers on Friday for the first time since the US-Iran war began. They net sold Indian equities worth around INR 20 billion. Meanwhile, domestic investors continued to inject capital into equities, with a net investment of over INR 24 billion on Monday.
The Nifty 50 is expected to open at 24150-24200 points on Wednesday and find support at 24000 points and face resistance at 24400 points, said Ashish Sherigar, a technical and derivatives analyst at NVS Brokerage. Meanwhile, Bhavya Shah, a technical and derivatives analyst, expects the Nifty 50 to find key support at 24000 points after a gap-up open, where there was buying interest coming in previous instances.
The April futures contract of GIFT Nifty indicates a gap-up opening for the Nifty 50 index. At 0756 IST, the contract traded at 24206.50 points, a premium of around 300 points from Nifty 50's Monday close. (Gopika Balasubramanium)
Equity Alert: US indices end higher Tue on hope of US, Iran peace talks
MUMBAI--0751 IST--Indices on the Wall Street ended on a strong note Tuesday after US President Donald Trump said Iran wanted to make a peace deal with the US. An official from the White House said a second round of talks were underway with the West Asian nation, CNBC reported. "I think it's close to over, yeah. I mean, I view it as very close to over," Donald Trump told Fox Business Network in an interview. Lebanon and Israel also held their first diplomatic talks in over three decades.
Following the positive sentiment, Brent crude oil futures slipped to around $95 per barrel. The NASDAQ Composite outperformed its peers to close almost 2% higher. All the Magnificent Seven stocks helped the index move higher. All of these stocks, barring Apple, closed 3–4% higher. The NASDAQ gained for the tenth consecutive session. The S&P 500 closed over 1% higher. This week, the index reversed its losses since the
outbreak of the US-Iran war towards the end of February.
Further, a softer-than-expected rise in producer price inflation boosted market sentiment. The US Producer Price Index rose 0.5% on month in March. Economists had estimated this figure to rise 1.1%. On an on-year basis, the inflation index rose 4%, the highest since February 2023. "Producers are still reporting above-normal price increases which will put upward pressure on inflation the consumer is already seeing," Reuters said quoting Christopher Rupkey, chief economist at FWDBONDS. Despite the softer data, the US Federal Reserve is expected to maintain the status quo on interest rates in the near term.
Following are the closing levels of US indices Tuesday:
Index | Level | Change in % |
S&P 500 | 6967.38 | 1.18 |
NASDAQ Composite | 23639.083 | 1.96 |
Dow Jones Industrial Average | 48535.99 | 0.66 |
(Ruchira Kagita)
US$1 = INR 93.40
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Rajeev Pai
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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