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Informist, Wednesday, Apr. 29, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices open down as crude rises over $122/bbl; Bajaj Fin up 4%

 

MUMBAI--0937 IST--Benchmark equity indices opened lower after crude prices rose above the $122-per-barrel mark, which weighed on market sentiment. The gains in crude oil prices came after US President Donald Trump said the US naval blockade of Iran ports could continue for months. Automobile stocks were the major laggards on benchmark indices. 

 

At 0935 IST, the Nifty 50 was at 23913.05 points, down 264.60 points or 1.1%, and the BSE Sensex was at 76663.54 points, down 832.82 points or 1.1%. Only seven constituents on the Nifty 50 traded in the green.  

 

Bajaj Finance rose nearly 4% in the Nifty 50 to be the top gainer. The financial services company posted a 22% on-year growth in its consolidated net profit to INR 54.65 billion. This was slightly higher than analysts' view of INR 54.40 billion. Coal India, Bajaj Finserv, and Wipro rose around 1%. Eternal was the worst-hit stock in the Nifty 50, down over 3%. Shares of Shriram Finance, Axis Bank, Mahindra & Mahindra, InterGlobe Aviation, UltraTech Cement, and Tata Motors Passenger Vehicles fell around 2?ch.

 

All the sectoral indices were in the red, with Nifty Auto being the worst hit among them. Nifty Auto fell nearly 3%. The broader market indices were also in the negative territory. Nifty Smallcap indices were down 0.6?ch, while Nifty Midcap Indices fell over 1?ch.

 

Bajaj Finance was the top gainer in the Nifty 200 as well. Shares of Motilal Oswal Financial Services rose over 2%, and those of Adani Power rose nearly 2?ter the company's March quarter net profit rose 52% on year to INR 40.17 billion. In contrast, Waaree Energies was a major underperformer, falling over 8%.

 

In the Nifty 500, Cemindia Projects rose 12% to be the top gainer. The company's net profit for the March quarter doubled on year to INR 2.42 billion. HEG was the top underperforming stock in the index, down nearly 10%.  (Adhithya Aji) 

 

 

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Equity Alert: Indices seen lower Thu as crude oil prices rises to $120/bbl

 

MUMBAI--0855 IST--Domestic headline indices are expected to open lower Thursday as crude oil prices surged to over $120 a barrel due to the continued blockade of Iran ports and US President Donald Trump urging Tehran to reach a peace deal. Investors will focus on the March quarter earnings of four Nifty 50 constituents, due later in the day.

 

Trump discussed with oil companies how to mitigate the impact of a months-long US blockade of Iran's ports, Reuters reported, quoting a White House official, as the US president urged Tehran to "get smart soon" and sign a deal. Trump said the US will continue its naval blockade of Iran until a nuclear deal is reached with Tehran. At 0831 IST, the June contract of Brent crude oil was trading almost 3% higher at $121.48 per barrel. The crude oil prices were higher for the ninth consecutive session.

 

The Gift Nifty suggests a rangebound to negative movement of the headline indices Thursday. At 0831 IST, the May futures contract of the Gift Nifty was 0.1% lower at 24095.50, down over 80 points from the Nifty 50's previous close of 24177.65.

 

The National Stock Exchange will conduct a special pre-open session for Vedanta between 0900 IST and 1000 IST due to its demerger into four other companies--Vedanta Aluminum Metal, Talwandi Sabo Power, Malco Energy, and Vedanta Iron and Steel. ICICI Direct Research expects shares of Vedanta to trade at INR 300-INR 325, adjusted for the company's demerger into five separate entities. The record date for the demerger announced in 2023, is May 1.

 

Meanwhile, other Asian indices showed a mixed trend. Japan's TOPIX FIRST SECTION was the worst hit index, down 1.5%. The FTSE Singapore Strait Times led the pack of gainers. It was nearly 1% higher. On Wednesday, barring the Nasdaq Composite, all other US indices closed lower after the US Federal Open Market Committee held the federal funds target range steady at 3.50-3.75% for the third straight meeting in 2026. The comments of the committee were not much changed from the previous meeting in March.  (Arundathi A R)

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Equity Alert: Most Asian markets fall as crude oil touches $121 per barrel

 

MUMBAI--0840 IST--Most Asian indices were in the red Thursday, tracking the subdued performance of their US counterparts, as crude oil prices climbed for the ninth consecutive day. Japan's broader-market Topix was the worst performer among its peers, followed by the Nikkei 225. Singapore's FTSE Singapore Strait was the only index among its regional peers to be in the green during early trade.

 

At 0830 IST, the June futures of Brent Crude Oil touched the $121-per-barrel mark as a report by The Wall Street Journal citing unnamed officials said that US President Donald Trump had instructed aides to prepare for an extended blockade of Iran. Further, Axios reported that Trump had rejected Iran's proposal to reopen the key shipping route Strait of Hormuz and had said the US naval blockade will remain until a deal that addresses US concerns over Tehran's nuclear programme is offered.

 

As markets in Japan resumed trade after a holiday, the Nikkei 225 shed over 1% as shares of banks and technology stocks dragged down the index. Shares of Mizuho Financial Group Inc. shed over 4%, while those of peers Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group slid 0.8% and 0.6%, respectively. Shares of semiconductor players Advantest Corp. and Tokyo Electron shed over 4% and 1%, respectively.

 

The Kospi slipped 0.4% during early trade after touching a record high earlier in the session. Heavyweight stock Samsung Electronics was down 0.8%.

 

Following were the levels of major Asian indices at 0835 IST:

 

Index	Level	Change in %
CSI 300 Index	4800.1902	(-)0.21
Hang Seng Index	25785.85	(-)1.25
Nikkei 225 Day	59304.62	(-)1.02
TOPIX FIRST SECTION	3714.92	(-)1.52
KOSPI	6655.65	(-)0.52
FTSE Singapore Strait Times	4892.61	0.65
S&P/ASX 200 INDEX	8665	(-)0.25

 

(Shruti Nair)

 

 

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Equity Alert: US mkts end mostly dn Wed; Fed holds rates steady as expected

 

MUMBAI--0755 IST--US indices ended mostly lower on Wednesday with the Dow Jones Industrial Average closing lower than its peers, and in the negative for the fifth consecutive session. The US Federal Reserve held the benchmark interest rate steady reflecting market expectations, even as the decision came from a divided Federal Open Market Committee. Inflationary concerns persisted as crude oil prices climbed to nearly $120 per barrel. 

 

The Federal Open Market Committee voted to hold the interest rates steady between 3.5–3.75%. Markets had priced in a 100% chance of no change in the rate. However, the Committee was at its most divided since 1992 with an 8-4 vote as four officials expressed dissenting views for varying reasons.

 

Meanwhile, incumbent Chair Jerome Powell said he would remain on the Board of Governors indefinitely even after his term as governor ends on May 15 until investigations regarding the renovation of the central bank's headquarters are concluded.

 

"With Powell choosing to stay on as a Fed governor, those in favor of cuts, including incoming Chair Kevin Warsh, are in the minority. Warsh is going to have a hard time convincing a majority to cut rates," Sonu Varghese, global macro strategist at Carson Group told CNBC in an email.

 

The earnings of four of the US Magnificent Seven technology majors came out post market hours on Wednesday. Shares of Meta fell modestly following the company's earnings report amid disappointing user growth. Shares of Microsoft closed over 1% lower even after the company beat estimates for its top and bottom line. Alphabet added 7% soon after beating revenue expectations, though it gave up these gains before closing marginally lower, while Amazon shares advanced over 1% on a surge in cloud computing revenue.

 

Following were the closing levels of major US indices on Wednesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	48861.81	-0.57
NASDAQ Composite	24673.241	0.04
S&P 500	7135.95	-0.04

 

(Shruti Nair)

 

US$1 = INR 95.23

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

 

Edited by Tanima Banerjee

 

All prices from National Stock Exchange, unless otherwise specified.

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

All times are Indian Standard Time.

 

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