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Informist, Thursday, Apr. 16, 2026                                      Tel +91 (22) 6985-4000

Equity Alert: Indices seen in range Fri; positive sentiment to continue

MUMBAI--1730 IST--The domestic equity market is expected to trade within a range on Friday, with a positive momentum, analysts said. Crude oil prices, staying below $100 per barrel, will give optimism to the domestic equity market. Market participants will track developments on peace talks between the US and Iran, which will decide the near-term trend. They will also watch out for the March quarter earnings, including those of Jio Financial Services, scheduled for Friday.

"In the near term, as long as Nifty (Nifty 50) sustains above 24,000 (levels), a gradual recovery towards 24,300 and 24,500 cannot be ruled out," Sundar Kewat, technical and derivatives analyst at Ashika Group, said. "A decisive move above 24,500 points would be required to trigger fresh upside momentum, while a break below 24,000 could weaken the current structure and invite further downside," he said.

Thursday, the Nifty 50 ended at 24196.75, down 34.55 points or 0.1%. The BSE Sensex settled at 77988.68, down 122.56 points or 0.2%. Analysts expect the 50-stock index to face resistance at 24350–24400 and find support at 24100–24000. 

Foreign institutional investors were net buyers on Wednesday, purchasing shares worth INR 6.66 billion.

However, domestic institutional investors turned net sellers Wednesday for the first time since the start of the US-Iran war and sold shares worth INR 5.69 billion. 

"After four sessions of weakness, the Indian rupee gained ground as renewed risk-on sentiment prompted foreign institutional investors to return to the domestic equity markets. This recovery was bolstered by a declining trade deficit and a reduction in dollar demand," Dilip Parmar, research analyst at HDFC Securities, said in a note.

Post-market hours Thursday, Wipro detailed its March quarter earnings. The company reported a consolidated net profit of INR 35.02 billion on revenues of INR 242.36 billion. The net profit rose 12% on quarter but fell nearly 2% on year, while the revenue rose nearly 3% on quarter and 8% on year.

HDFC Life Insurance also announced its results post-market hours. The company reported a 4% on-year rise in net profit to INR 4.96 billion. The life insurer's net premium income rose nearly 9% on year to 258.29 billion during the quarter.  (Arundathi A R)

Equity Alert: Nifty 50 April ends at discount of 10.45 points to spot index

MUMBAI--1736 IST--The April futures contract of the Nifty 50 closed at a discount of 10.45 points to the spot index Thursday. Open interest in the contract rose slightly to 18 million, according to provisional data.

--Nifty 50 closed at 24196.75 points, down 34.55 points or 0.1% vs Wednesday

--Nifty 50 April closed at 24186.30 points, down 51.40 points or 0.2% vs Wednesday

Nifty 50 options, expiring Tuesday, with maximum change in open interest:

Call: 24400, Put: 23200

Nifty 50 options, expiring Tuesday, with maximum open interest:

Call: 25000, Put: 23000

(Anshul Choudhary)

Equity Alert: Mkt ends down on profit taking despite oil staying below $100/bbl

MUMBAI--1535 IST--The domestic benchmark indices gave up early gains and ended down Thursday. The indices slipped into the red around 1200 IST due to profit booking, despite crude oil prices remaining below $100 per barrel, according to technical analysts. The market has factored in the likely extension of ceasefire between the US and Iran. The Nifty 50 settled 0.1% lower at 24196.75 points and the BSE Sensex ended down 0.2% at 77988.68 points.

The US and Iran have in principle agreed to extend the ceasefire to allow for more diplomacy, The Associated Press reported Wednesday. The original two-week ceasefire period is to end on Apr. 22. Mediators are pushing for a compromise on three main points that had derailed the talks in Islamabad, Pakistan, last weekend--Iran's nuclear programme, opening up of the Strait of Hormuz, and compensation for wartime damages, according to the report.

Pakistan's army chief Field Marshal Asim Munir held high-level talks in Iran on the resumption of talks between Iran and the US, Al Jazeera reported Thursday. Iran's army has warned of blocking trade through the Red Sea, along with the Gulf and Sea of Oman, if the US Navy continues to block Iranian ports. At 1531 IST, the June futures contract of Brent Crude was up 1.6% at $96.45 per barrel.

The broader market continued to outperform the benchmark peers, settling nearly 1% higher. Though the domestic market fell, India VIX showed investors' nervousness easing. The volatility index ended over 3% lower at 18.0850.

Most sectoral indices ended the session in the green. Banking, financial services, and automobile indices were the laggards, ending 0.2-0.6% lower. The Nifty Metal was the biggest gainer among sectoral peers, closing 1.5% higher. JSW Steel and NMDC were the sole losers in the sectoral index.

Nifty 50 heavyweight HDFC Bank was the biggest laggard, which weighed on the index. The stock closed almost 2% lower. Other banking and financial services stocks, HDFC Life Insurance Co., Kotak Mahindra Bank, Bajaj Finance, Axis Bank, and Jio Financial Services, were the other big losers. They were down 0.4-1.8%.

Hindalco Industries was the top gainer in the 50-stock index. It ended up nearly 3% and closed higher for the second session. Adani Enterprises also ended nearly 3% higher. It ended higher for the fourth straight session. Information technology stocks Infosys, Tata Consultancy Services, and Tech Mahindra, which ended 0.5-1.0% higher, had helped the index gain early in the day.  (Arundathi A R)

Equity Alert: European indices largely flat; UK Feb GDP beats expectations

MUMBAI--1422 IST--Most indices in Europe opened slightly higher on Thursday as market participants held on to hopes of a positive outcome from the fresh round of talks between the US and Iran. They also assessed the stronger-than-estimated GDP data from UK. However, Brent crude oil prices rose by almost 2% to around $97 per barrel. At 1418 IST, stock markets in the UK, Germany, Spain, France, and Italy were largely flat. The pan-European STOXX Europe 600 was up only 0.1%.

The UK's benchmark FTSE 100 index was marginally up, even as the country's GDP grew 0.5% on a monthly basis in February, beating expectations. Reuters had forecast a much lower print of 0.2% growth. Real GDP for the three months ended February also expanded 0.5% as against the upwardly-revised 0.3% rise in January. Meanwhile, the island country's production output rose 0.5% in February and 1.2% for the quarter ended February. The growth in monthly production output in February was primarily supported by mining and quarrying, and electricity and gas segments.

France's key CAC 40 index was up 0.3%, with most major luxury companies attempting to reverse their fall of Wednesday. Shares of LVMH and EssilorLuxoticca were up around 1% but Kering extended its fall. It was down about 2%.

In other news, the Switzerland National Bank left its interest rates unchanged at 0% in its monetary policy assessment meeting. The war between the US and Iran has pushed up energy prices significantly, the Swiss central bank noted. Inflation is seen inching upwards due to high energy prices in the near term. "...the war in the Middle East could curb economic activity more strongly and increase upward pressure on the Swiss franc," the central bank said in a release. Investors will keep an eye out for the minutes of the European Central Bank's last monetary policy meeting, and President Christine Lagarde's commentary.

Following were the levels of major European indices at 1420 IST:

(Ruchira Kagita)

Equity Alert: Most Indices in Asia gain; Nikkei 225 hits record high

MUMBAI--1345 IST--Most indices in Asia gained Thursday as sentiment was buoyed by the prospects of a fresh round of peace talks between the US and Iran. The US President Donald Trump has said Iran is eager to strike a deal and that the war is "very close" to being over. Brent Crude Oil futures were largely unchanged around $96 per barrel.

Japan's benchmark Nikkei 225 gained 2.7% intraday to hit a fresh high of 59688.10 points. The rise was supported by a rally in electronics stocks, the DowJones Newswires reported. Shares of Daikin closed a little over 9% higher after Elliott Investment Management said it acquired a stake in the company. Citing sources, the Japanese media outlet Nikkei said that the investment manager bought a 3% stake in the air conditioner maker. Over 70% of the stocks in the 225-stock index gained on Thursday. The broader market index TOPIX ended the day 1.2% higher. 

Meanwhile, a stronger-than-anticipated GDP print for the three months ended in March likely boosted sentiment in China. The country's GDP expanded 5% on year in the first quarter of 2026, beating Reuters' poll of 4.8% on-year growth. China's benchmark CSI 300 index was up over 1%.

On the macroeconomic front in Australia, the unemployment rate remained unchanged at 4.3% compared to February and the number of employed people in the country grew 0.1% on month. The rate of labour force participation was a tad higher at 66.8% in March. Australia's key S&P ASX 200 index was range-bound throughout the trading session and closed 0.3% lower. 

Following were the levels of major Asian indices at 1340 IST:

(Ruchira Kagita)

Equity Alert: Indices erase gains; banks, select auto cos major laggards

MUMBAI--1335 IST--Domestic indices erased their earlier highs as the Nifty 50 slipped below the 24200-mark, dragged down by stocks of banks, state-owned energy enterprises, and select automobile companies. At 1335 IST, the Nifty 50 was down 0.5% at 24123.35. The BSE Sensex was at 77749.69, down 0.5%. Majority of the constituents were down in the Nifty 50 index. The volatility index India VIX tracked the swing in the market and shaved off its earlier losses, remaining only around 1% lower at 18.5450.

Shares of Axis Bank and Kotak Mahindra Bank were down 0.6–0.8%. Index heavyweight ICICI Bank slipped into the red, while its peer HDFC Bank extended its losses and remained a major laggard in the Nifty 50 index, down 1.4%. Shares of Mahindra & Mahindra, Eicher Motors, and Bajaj Auto were the major losers among automobile companies, down 1.0-1.5%. Among individual companies, shares of HDFC Life Insurance Co. pared its gains and fell 1% ahead of its earnings, due later in the day. Jewellery major Titan Co. was the worst-hit stock on the index, down 1.7%. State-owned enterprises also fared poorly, with shares of Coal India, NTPC, and Oil and Natural Gas Corp. falling over 1% each.

Shares of HDFC Asset Management Co. fell nearly 2% after the company reported an over 2% on-year fall in its net profit for the March quarter to INR 6.23 billion. However, the company's revenue from operations rose nearly 17% on year to INR 10.5 billion.

Shares of Hindalco Industries remained the top-performing stock in the Nifty 50 index, up nearly 3%. It was also among the top performers in the Nifty 200 index. Shares of metal manufacturer, Tata Steel, also remained in the green, amid marginal gains in the 50-stock index. Metal companies were also among the highest gainers in the Nifty 200 index, with Vedanta, Hindustan Zinc, and National Aluminium Co. Ltd. gaining 2–3%.

Broader-market indices came off their earlier highs and fell modestly. Only two small-cap indices clung to their marginal gains. Almost all sectoral indices fell, except for the Nifty Metal index, which was up over 1% and was the highest gainer, followed by the Nifty IT index, which eased from its earlier gains but remained 0.4% higher. 

In the Nifty 500, Gujarat Mineral Development Corp. extended its gains and was the highest gaining stock. Energy companies NLC India and Swan Corp. were also among the top gainers, rising 9% and 8%, respectively. Sonata Software and Firstsource Solutions remained among the top gainers though they came off their highs, up 12–13%.  (Shruti Nair)

Equity Alert: HDFC Life Insurance falls ahead of Jan-Mar earnings

MUMBAI--1245 IST--Shares of HDFC Life Insurance Co. were down marginally ahead of its earnings for the March quarter, due later in the day. The insurer is expected to report a net profit of INR 4.80 billion, according to Motilal Oswal Financial Services. On the other hand, SMIFS expects the company to report a net profit of INR 5.31 billion. Gross premium income, the topline for insurers, is expected to be around INR 266.70 billion for the March quarter, according to Motilal Oswal, while SMIFS expects it to be around INR 262.22 billion.

At 1242 IST, shares of the company were trading 0.5% lower at INR 637.15 on the NSE.

The slowdown in earnings growth is expected due to a fall in value of new business margins for the quarter along with lower input tax credit, Motilal Oswal said. The company's value of new business was INR 27.73 billion for Apr-Dec, up 7% on year. The insurer's new business margin was 24.4% in the nine-month period, down from 25.1% a year ago.

Motilal also expects the product mix of the company to tilt towards traditional items rather than unit-linked plans. In the nine months ended December, unit-linked insurance plans contributed 43% to the company's product mix. Participating products accounted for 27%, non-par savings 19%, term plans 7%, and annuity plans 4% of the mix.

Of the 13 brokerage reports on the life insurer available with Informist, 12 have a "buy" recommendation on the stock with an average target price of INR 876, over 37% higher than the current market price. The rest have a "hold" call with an average target price of INR 744. For the December quarter, the company reported a net profit of INR 4.21 billion.  (Kabir Sharma)

Equity Alert: Tejas Networks top loser in Nifty 500; weak Q4 earnings weigh

MUMBAI--1230 IST--Shares of Tejas Networks fell over 6% to a low of INR 422.50 during the session so far Thursday after the company posted a weak set of earnings for the quarter ended March. The company's consolidated net loss widened by over 7% sequentially to INR 2.11 billion from INR 1.97 billion. Tejas Networks' consolidated revenue, meanwhile, rose almost 8.5% on quarter to INR 3.33 billion.

For 2025–26 (Apr-Mar), the telecommunications company posted a consolidated net loss of INR 9.09 billion as compared to a profit of INR 4.47 billion reported a year ago. Tejas Networks' net sales for FY26 fell almost 88% on year to INR 11.03 billion.

At 1213 IST, shares of Tejas Networks were down over 4% at INR 429.65 on the NSE. Nearly 6 million shares of the company were traded on the exchange till this time, higher than over 2 million shares traded till the same time Wednesday. Tejas Networks was among the top laggards in the Nifty 500 index.  (Ruchira Kagita)

Equity Alert: HDB Financial up 12% to near-2-mo high; volume jumps multifold

MUMBAI--1205 IST--Shares of HDB Financial Services rose over 12% to hit a near-two-month high of INR 723.95 after the company's bottom line for the March quarter beat the Street's estimates. Shares of the company came off highs and at 1202 IST, the stock traded at INR 691.80, up 7.3% from Wednesday's close. Share volume surged with more than 9 million shares of the company changing hands on the NSE so far Thursday, higher than nearly 270,000 shares traded until the same time Wednesday.

For the March quarter, HDB Financial Services reported a 41% on-year jump in its net profit to INR 7.51 billion against analysts' estimates of INR 7.23 billion. The rise in the company's bottom line was on the back of growth in its revenue, which rose 11% on year to INR 47.45 billion due to better asset quality and healthy loan growth. The company's net interest income rose nearly 22% to INR 23.99 billion, slightly exceeding the Street's estimate.  

The brokerages were positive about improvement in asset quality and record quarterly growth in disbursements, and moderating credit costs. The better-than-expected earnings pushed three brokerages to maintain their 'buy' or equivalent ratings and these had an average target price of INR 733--around 6% higher than the current share price.

However, Nirmal Bang Institutional Equities, while being bullish on the stock, pointed out that loan growth was weak due to concerns over loan growth, Emkay Global Financial Services maintained its 'reduce' rating with a target price of INR 625. "...AUM growth remained soft, indicating management focus on maintaining profitability at the cost of growth," the brokerage said.  (Shruti Nair) 

Equity Alert: Most IT cos up on bullish growth view; smallcap shrs up 12-13%

MUMBAI--1150 IST--Shares of information technology stocks rose, with the Nifty IT index gaining for the second straight session, up nearly 1%. Barring Wipro and HCL Technologies, all constituents of the sectoral index were higher.

Among the Nifty 50 constituents, Infosys was the top gaining IT stock. It was followed by Tata Consultancy Services and Tech Mahindra. Smallcap IT stocks such as Firstsource Solutions and Sonata Software were also up in the Nifty 500 index.

At 1146 IST, Infosys, Tata Consultancy Services, Tech Mahindra, Firstsource Solutions, and Sonata Software were up 0.4–13%. However, shares of Wipro and HCL Technologies were down 0.4-0.6%. Shares of Wipro pared their early gains ahead of its earnings for the quarter ended March, due later in the day. The company's consolidated net profit is expected to rise 3% on quarter to INR 35.11 billion and its revenue is likely to rise 4% sequentially to INR 245.26 billion. 

Brokerage Nirmal Bang Institutional Equities expects the IT sector to see growth across the board for the March quarter, with Tier-I players likely to report (-)2.1-3.3% on-quarter revenue growth in constant currency terms. "Growth is supported by cloud migration and artificial intelligence-driven deals, as well as large-scale transformation deals but tempered by softness in select verticals like telecom and hi-tech, the brokerage said in its report.

The brokerage also expects reversal of furlough impact and absence of one-time impact from the labour code policy changes as seen in the previous quarter, and movement towards outcome-based projects to support margins which is expected to lead to overall stability and recovery of the sector.  (Arundathi A R)

Equity Alert: Wipro reverses early gains ahead of Jan-Mar earnings

MUMBAI--1100 IST--Shares of information technology giant Wipro opened higher Thursday ahead of its earnings for the quarter ended March, but failed to hold on to those gains for long. The company's American depositary receipts had closed almost 3% higher on Wednesday.

Wipro's consolidated net profit is seen rising 3% sequentially to INR 35.11 billion and its revenue is likely to inch up 4% on quarter to INR 245.26 billion. Demand from the banking, financial services, and insurance businesses is expected to be healthy for the company in the reporting quarter. The recent depreciation in the rupee is likely to support revenue growth.

Wipro's revenue in constant currency terms is estimated to meet management's forecast and rise 0.5-1.7% on a quarterly basis. Wipro had estimated revenue in constant currency terms to grow 0-2% in the March quarter. The Street will keep an eye out for the company's outlook on growth of revenue in constant currency terms for the June quarter. Nomura expects the company's growth guidance for the same to fall between (-)1% and 1% for the quarter ending June.

Further, the management's commentary on deal wins, artificial intelligence-led productivity, total contract value, demand in healthcare and banking and financial services, and synergies from its deal with HARMAN will also be important to track, according to Motilal Oswal Financial Services.

At 1052 IST, Wipro pared its gains to slip into the red. Shares of the company were trading 0.3% lower at INR 209.12 on the NSE. Over 17 million shares of the company were traded ahead of its earnings, significantly higher than over 11 million shares exchanged till the same time Wednesday.

Of the 14 brokerage reports on the company available with Informist, seven have a 'hold' or equivalent recommendation on the stock with an average target price of INR 270. Of the remaining seven, four have a 'buy' recommendation with an average target price of INR 295 and three have a 'sell' call on the stock.  (Ruchira Kagita)

Equity Alert: CRISIL shares rise 2% ahead of Jan-Mar earnings

NEW DELHI--1010 IST--Shares of CRISIL rose 2% to an intraday high of INR 4,204.70 ahead of the company's March quarter earnings announcement later in the day. At 1001 IST, shares of the company traded at INR 4,132.10 on the NSE, 0.3% up from Wednesday's close.

YES Securities (India) Ltd. estimates the rating agency's consolidated net profit for the March quarter at INR 1.77 billion. In the year-ago quarter, CRISIL had posted a net profit of INR 1.60 billion.

The brokerage expects the company's revenue to grow nearly 13% on year and fall over 15% on quarter to INR 9.16 billion.

YES Securities estimates CRISIL's earnings before interest, tax, depreciation and amortisation to rise over 14% on year to INR 2.65 billion for the March quarter. Lower bond issuances in the March quarter could moderate revenue growth in domestic ratings business particularly for CRISIL as it has a higher revenue share from bond ratings, the brokerage firm said in a report.  (Shweta)

Equity Alert: Indices open higher on reports of US-Iran ceasefire extension

MUMBAI--0950 IST--The domestic market extended gains from the previous session, on hopes of another round of talks between the US and Iran. The two countries have agreed in principle to extend the two-week ceasefire to allow time for further diplomatic talks, The Associated Press reported Wednesday, quoting regional officials. Reacting to the positive developments, crude oil prices fell to a low of $94 per barrel and helped the domestic indices to gain for the second session.

Broader market indices outperformed the benchmark peers in early trade, but pared gains later. The volatility index India VIX was almost 4% lower at 17.9450, which indicated that nervousness among investors had eased. At 0924 IST, the Nifty 50 was up over 140 points or 0.6% at 24380.05. The BSE Sensex was at 78635.57, up over 520 points or 0.7%. Less than 20 constituents were down in the Nifty 50 index.

Among sectoral indices, the Nifty Metal was the top gainer. All the constituents of the index were trading higher in early trade. The Nifty IT was the second. It was up over 1%, with all its constituents in the green. Information technology stocks contributed the most to Nifty 50's rise. Infosys, Tech Mahindra, and Tata Consultancy Services were up over 1% each. Wipro was up 0.6% ahead of its March quarter earnings later in the day.

Financial services stocks also supported the 50-stock index. HDFC Life Insurance Co., Bajaj Finance, and Bajaj Finserv were up around 1% each. HDFC Life Insurance gained ahead of its March quarter results later in the day. Among banking stocks, ICICI Bank was up nearly 1%, while HDFC Bank was marginally higher.

Among individual stocks, Hindalco Industries was the top gainer in the Nifty 50 index. The stock was up nearly 3%. It was followed by metal stocks Tata Steel and JSW Steel, up almost 2% each.

Quick-commerce stocks also performed better, with Eternal in the Nifty 50 index and Swiggy in the Nifty 500 index gaining around 1%. Among the Nifty 200 stocks, Hindustan Zinc was the top gainer, up nearly 4%. It was followed by Hindalco Industries and National Aluminium Co., up nearly 3% each. Firstsource Solutions was the top gainer in the Nifty 500 index, up over 15%.

Tata Consumer Products was the biggest laggard in the 50-stock index, down around 1%. It was followed by Bharti Airtel and Bajaj Auto, down nearly 1% each. Tejas Networks was the biggest laggard in the Nifty 500 index, down over 4%. The stock was down after the company's Jan-Mar net loss got widened from the previous quarter. On the BSE, SpiceJet hit the 5% upper circuit at INR 14.14.  (Arundathi A R)

Equity Alert: Most Asian mkts up, hopes of US-Iran talks support momentum

MUMBAI--0815 IST--Most Asian indices were up Thursday, with hopes of a peace deal between the US and Iran keeping the momentum positive. Brent crude oil futures were also largely unchanged from Wednesday at around $95 per barrel. 

China's benchmark CSI 300 was up 0.6% in early trade as the country's GDP for the March quarter expanded 5% on year to touch 33.42 trillion yuan, beating economists' expectations. Reuters had estimated China's GDP to grow 4.8% on year in the first quarter of 2026. The country's services sector grew 5.2% on year and industrial output was up 6.1% on year. On a quarterly basis, China's GDP grew 1.3% in the first quarter, matching forecasts.

Japan's benchmark Nikkei 225 index was almost 2% higher after being flat throughout the session Wednesday. Shares of Daikin Industries soared almost 14% after Elliott Investment Management said it has acquired stake in the company. The investment manager said Daikin should improve its margins and shareholder returns, and review non-core assets, according to a report by Reuters. Shares of Nikkei 225 heavyweight Advantest Corp. were also nearly 2% higher.

In South Korea, the benchmark KOSPI gained over 2%. The broader market KOSDAQ underperformed the benchmark index, and was up only around 1.2%. Among some of the key stocks, Samsung SDS Co. rose almost 4% after KKR said it will buy $820 million of Samsung SDS' convertible bonds, Reuters reported. Meanwhile, key indices in Australia and Singapore displayed some negative bias.

Following were the levels of major Asian indices at 0802 IST:

(Ruchira Kagita)

Equity Alert: Indices seen a tad higher on hopes of US-Iran peace talks

MUMBAI--0800 IST--Benchmark indices are likely to open slightly higher on Thursday amid reports that the US and Iran may look to extend the ceasefire and even hold a second round of talks to end the West Asia war. Most Asian indices were higher in early trade as crude oil futures have stayed around $95 per barrel for about three days now.

At 0758 IST, GIFT Nifty April contracts traded slightly above 24300 points, indicating the Nifty 50 index may open around 70 points or 0.3% higher. Wednesday, the Nifty 50 index had closed at 24231.30 points, up nearly 400 points or 1.6%.

Technical analysts expect the buying momentum in the market to continue in the near term. The intraday support for the Nifty 50 is seen at 23900-24000 points and the resistance is expected near 24500 points.

Some of the developments globally have made market partcipants confident that the war between the US and Iran may end soon. There were media reports on Wednesday that the two countries have agreed in principle to extend the two-week ceasefire. The original

two-week period is due to end Apr. 22.

The New York Times reported that senior Pakistani mediators reached Tehran on Wednesday in order to keep the prospects for futher talks alive. Israel is also considering a possible ceasefire against Iran-backed Hezbollah, three Israeli officicals told NYT. 

Indices in the US were mixed on Wednesday with S&P 500 and Nasdaq Composite closing 0.8-1.6% higher while the Dow Jones Industrial Average ended 0.2% down.

However, some risks related to the US-Iran conflict remain with the US halting the goods going into and leaving Iran by sea. Iran's military has said it would try to stop ships headling to other countries if the blockade by the US continues, the NYT report said.

On the domestic front, the March quarter earnings are likely to lead to stock price reactions. Information technology major Wipro is scheduled to report its earnings later in the day. Market participants will keep an eye on the company's guidance for the June quarter. While some analysts expect the company to guide for 0-2% growth in revenue for the June quarter, others expect it to guide for a dip of as much as 2%. Among others, HDFC Life Insurance Co. will report its quarterly earnings.  (Anshul Choudhary)

Equity Alert: US indices end mixed Wed; NASDAQ, S&P 500 hit new highs

MUMBAI--0726 IST--The US benchmark indices ended mixed Wednesday. The NASDAQ Composite index and the S&P 500 rose to all-time-highs, while the Dow Jones Industrial Average closed in the red. Market participants cheered the prospects of a fresh round of peace talks between the US and Iran. US President Donald Trump has said Iran is eager to strike a deal and that the war is "very close" to being over. Brent Crude Oil futures were largely unchanged since the week started at around $95 per barrel.

The NASDAQ Composite ended in the green for the eleventh consecutive day and the S&P 500 closed higher for the third straight session. The blue-chip Dow Jones Industrial Average was dragged down by heavyweight Caterpillar Inc., which fell 3%. "We're basically back to where we were in late February in terms of the sentiment indicators and the valuation," Tim Hayes, chief global investment strategist at Ned Davis Research, told CNBC.

Earnings-driven momentum was also seen on Wall Street. Bank of America, the country's second-largest lender, beat analysts' forecast on earnings for the quarter ended March. The lender's revenue grew 7% on year to $30.3 billion during Jan-Mar, and earnings per share rose 25% on year to $1.11. The stock closed almost 2% higher. Another banking major, Morgan Stanley, reported its earnings for the period. The bank's net revenue climbed 15% on year to $20.6 billion, and it saw record revenues from its equities, institutional, and wealth management businesses. Its shares ended around 4.5% higher.

In other news, Trump once again lashed out against Federal Reserve Chair Jerome Powell. "I'll have to fire him, OK, if he's not leaving on time," Trump said IN an interview with Fox Business, according to a report by The Guardian. Powell is set to retire on May 15, and the White House has been pushing for Kevin Warsh to replace Powell.

Following are the closing levels of US indices Wednesday:

(Ruchira Kagita)

US$1 = INR 93.19

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

Edited by Saji George Titus

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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