Equity Alert
Indices fall further; banks, fincl svcs cos major laggards
This story was originally published at 11:35 IST on 11 May 2026
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Equity Alert: Indices fall further; banks, financial svcs cos major laggards
MUMBAI--1115 IST—Benchmark indices extended their losses, with less than 15 constituents in the Nifty 50 index trading in the green. Stocks of banks, financial services companies, and automobile players were the main laggards in the Nifty 50 index, which remained below the 24000 level. Select fast-moving consumer goods companies and state-owned energy enterprises were among the few gainers in the 50-stock index.
At 1051 IST, the Nifty 50 was at 23912.70, down 1.1%, and the BSE Sensex was at 76408.60, down 1.2%. Shares of Titan Co. was the worst-hit stock in the Nifty 50 index, down over 6%. The stock had hit its all-time high on Friday. With crude oil prices around $106 per barrel, shares of InterGlobe Aviation were down 5%. Shares of Bajaj Finserv, Jio Financial Services, and Shriram Finance, shed over 1–3% and were among the main laggards in the index. Shares of Kotak Mahindra Bank, State Bank of India, and index heavyweight, HDFC Bank, fell over 1–4%.
Shares of Tata Consumer Products were up over 4% and were the top gainers in the Nifty 50 index. The stock hit its all-time high in the early hours of the session buoyed by its March quarter results released on Friday. The company reported a 22% on-year growth in its consolidated bottom line for the reporting quarter, while its revenues grew 18% on year. Its peer, Nestle, rose 0.6%. Stocks of energy companies Oil and Natural Gas Corp., NTPC, and Coal India were up 0.3–1.0%.
Among sectoral indices, the Nifty Consumer Durables index was the worst hit, down over 3%, followed by Nifty Realty and Nifty Auto indices which were down 3% and 2%, respectively. The Nifty Healthcare index rose 0.3% and was the top performer among its sectoral peers. All broader market indices mirrored the losses in their benchmark peers and shed around 1?ch.
In the Nifty 200, ABB India shed over 9% and was the worst performer in the Nifty 200 and Nifty 500 indices. Brokerage Nuvama downgraded the stock to "reduce" on seemingly modest growth and stretched valuations. The company's net profit for the March quarter from continued operations was INR 3.42 billion. Barring a contribution of INR 14.42 billion from discontinued operations, the company would have missed the consensus estimate of INR 5.40 billion for its bottom line. Shares of Vodafone Idea rose 5.4% and were the highest gainers in the Nifty 200 index. Technology company HFCL rose around 6% and hit its all-time high. The stock was the top performer in the Nifty 500 index. (Shruti Nair)
Equity Alert: Bank of India up 4%; Jan-Mar net profit rises in double digits
MUMBAI--1111 IST--Sharess of Bank of India rose nearly 4% to an intraday high of INR 145.25 after the company's net profit rose in double digits for the March quarter. The bank's bottom line was supported by a fall in provisions.
For the March quarter, the bank's net profit rose nearly 15% on year and 12% sequentially to INR 30.16 billion. The bank's provisions for the reporting quarter fell 26% on year to INR 9.90 billion. The total income rose over 4% on year to INR 226.85 billion. Sequentially, the total income rose nearly 7%.
Bank of India's management said that it expected the net interest margin of the bank to be 3% for 2026-27 (Apr-Mar). The bank's net interest margin for Jan-Mar had risen to 2.58% from 2.57% in the previous quarter.
At 1103 IST, shares of Bank of India traded nearly 3% higher at INR 143.30. Over 15 million shares of the company changed hands on NSE, which was nearly five times higher than the number of shares traded till Friday. The number of shares traded Monday were higher than the three-month average daily volume. (Adhithya Aji)
Equity Alert: Tata Consumer rises 7% to all-time high post Jan-Mar results
MUMBAI--1030 IST--Shares of Tata Consumer Products rose nearly 7% to an all-time high of INR 1,253.60. The stock was the top gainer among the Nifty 50 constituents. It gained after the company posted robust earnings growth for the March quarter.
For Jan-Mar, the company's net profit rose nearly 21% on year to INR 4.19 billion, above the Street's view of INR 4.10 billion. The top line of the company grew nearly 18% on year to INR 54.34 billion and beat the analysts' estimate of INR 52.68 billion. Tata Consumer Products' reported robust underlying volume growth for the India branded business at 16%.
"We continue to like TCPL's (Tata Consumer Products') long-term structural growth opportunity driven by accelerating scale-up in growth businesses, improving distribution reach, continued premiumisation, and strong innovation-led execution across categories," Nirmal Bang Institutional Equities said. The brokerage said that the company remains well-placed to benefit from increasing penetration in packaged foods and emerging channels. This is supported by strong traction across Tata Sampann, Capital Foods, and Organic India, Nirmal Bang said.
Nirmal Bang has downgraded the stock to 'hold' from 'buy' as the brokerage is of the view that fair valuation is likely to limit upside from current levels. The brokerage remains structurally positive on the packaged foods space and Tata Consumer Products' long-term growth opportunity. Nirmal Bang has a target price of INR 1,280 on the stock.
At 1007 IST, shares of Tata Consumer Products traded nearly 6% higher at INR 1,241.50. Over 6 million shares of the company changed hands on NSE, which is nearly 12 times higher than the number of shares traded till the same time Friday. (Adhithya Aji)
Equity Alert: Mkts open dn as crude oil rises after Trump rejects Iran offer
MUMBAI--0937 IST--Benchmark indices opened lower Monday as crude oil prices rose after US President Donald Trump rejected Iran's proposal to end the war. The May futures of Brent crude oil were over 4% higher at $105.46 per barrel. Amid the crisis in West Asia, Indian Prime Minister Narendra Modi has urged citizens to cut down on petrol and diesel use as the nation faces a tough energy situation.
At 0932 IST, the Nifty 50 was at 23953.50 points, down 222.65 points or 0.9%, and the BSE Sensex was at 76542.97 points, down 758.22 points or 1%. Tata Consumer Products was the top gainer among the Nifty 50 constituents. The company's March quarter net profit rose over 21% on year to INR 4.2 billion, above the Street's view of INR 4.10 billion. The stock gained over 5%. Max Healthcare Institute and SBI Life Insurance Co. rose around 1?ch. NTPC, Sun Pharmaceutical Industries, and HCL Technologies rose marginally.
Titan Co. was the major laggard in the 50-stock index, down 6%. The stock fell after touching its all-time high level Friday after the Jan-Mar results. Shares of automobile companies Mahindra & Mahindra, Maruti Suzuki India, Bajaj Auto, and Tata Motors Passenger Vehicles were down 1-3%. Financial services companies Shriram Finance, Jio Financial Services, HDFC Life Insurance Co., Bajaj Finserv, and Bajaj Finance shed 1-2%. The heavyweight banking stock HDFC Bank fell over 1%.
All the sectoral indices were in the red, with Nifty Consumer Durables being the worst. The sectoral index fell by over 3%. All the broader market indices declined as well, with the Nifty smallcap indices and Nifty midcap indices down around 1?ch.
Hyundai Motors India rose more than 4% to become the best-performing stock in the Nifty 200. Bank of India fell by over 3%. The bank's net profit rose nearly 15% on year to INR 30.16 billion. On the other hand, ABB India and Kalyan Jewellers were the worst-hit stocks in the Nifty 200 and Nifty 500 indices. They fell nearly 7% and 8%, respectively. ABB India's net profit from continuing operations fell 25% on year.
In the Nifty 500, Niva Bupa Health Insurance Co. was the top gainer, rising over 6%. The company's March quarter net profit fell 8% on year. (Adhithya Aji)
Equity Alert: Indices seen lower, crude up as Trump rejects Iran's offer
MUMBAI--0828 IST--Benchmark indices are expected to open lower as crude oil prices jumped after US President Donald Trump rejected Iran's latest proposal to end the war, denting hopes of a near-term resolution to the conflict. Futures tied to major US indices traded lower in the early trade while Asian indices were largely mixed.
Over the weekend, Iran sent a new proposal to US negotiators, centred on ending the over two-month-long conflict, Iran's semi-official news agency Tasnim said. The counteroffer didn't include commitments about Tehran's nuclear program, according to a report by Dow Jones Newswires. In response, Trump, in a social media post Sunday, said that Iran's reply to the US proposal to end the conflict was unacceptable. "I have just read the response from Iran's so-called 'Representatives.' I don't like it - Totally unacceptable!"
The July futures contract of Brent crude in the Intercontinental Exchange rose 4.2% to $105.5 per barrel following Trump's rejection. At 0820 IST, the contract traded over 3% higher at $104.8 per barrel. Trump's rejection of Iran's latest offer to end the war points to the risk of prolonged uncertainty over the US-Iran conflict, Dow Jones Newswires reported, citing MUFG Bank's Lloyd Chan in a research report.
In another development, China announced that Trump will make a state visit from May 13 to 15 at the invitation of President Xi Jinping. The two leaders and their delegations are expected to work through a sweeping agenda spanning trade, technology, rare-earth export controls, Taiwan, the war in Iran, and artificial intelligence, according to media reports.
The May futures contract of Gift Nifty indicates a negative start to the domestic market. At 0811 IST, the contract traded at 24051.50 points, around 125 points lower than Nifty 50's Friday close. Some analysts expect the outperformance of broader market indices relative to their benchmark peers to continue in the near term.
"From a technical perspective, a decisive breakdown below the 24000 (points) support zone (by the Nifty 50 index) could trigger fresh selling pressure in the market, which may drag the index towards the downside targets of 23500 and 23300 (points) respectively in the near term, Sundar Kewat, technical and derivative analyst at Ashika Institutional Equities, said. On the other hand, if the 50-stock index manages to sustain above the 24000 point support level, it could witness a recovery move towards the 24500 points once again, Kewat added.
On Monday, investors will also focus on the March quarter earnings announcements from Canara Bank, Indian Hotels Co, JSW Energy, and UPL. (Arya S. Biju)
Equity Alert: Mkts in Asia mixed; crude oil prices up, West Asia woes weigh
MUMBAI--0815 IST--Indices in Asia traded on a mixed note Monday. Tensions between the US and Iran intensified after US President Donald Trump rejected Iran's proposal to end the war. Brent crude oil futures jumped over 3% and hovered near $105 per barrel. However, South Korea's KOSPI bucked the trend to touch a new record high.
Iran sought guarantees that the transferred uranium will be sent back if negotiations fail or the US exits the agreement at a later stage, The Wall Street Journal reported, citing sources. Iran was only willing to suspend uranium enrichment for a period shorter than what US had proposed, according to the media agency. "I have just read the response from Iran's so-called "Representatives." I don't like it — TOTALLY UNACCEPTABLE!," Trump said in a post on Truth Social.
In South Korea, the rally was driven by semiconductor stocks. Heavyweight SK Hynix surged almost 12% in early trade, and shares of its parent company, SK Square Co. were up nearly 6%. Samusung Electronics was also over 6% higher, and the benchmark KOSPI index was up by more than 4%. Japan's Nikkei 225 index touched a new high but the index pared all gains and slipped into negative.
In some macroeconomic news, China's producer and consumer price index levels were better warmer than expected at a 45-month high in April. China's producer prices rose 2.8% on year in April, significantly higher than Reuters' estimates of a 1.6% increase. Meanwhile, consumer prices inched up 1.2% on year in April versus expectations for a 0.9% uptick by Reuters.
The following were the levels of major Asian indices at 0814 IST:
|
Index |
Level |
Change in % |
| CSI 300 Index | 4924.7653 | 1.80 |
| Hang Seng Index | 26262.75 | (-)0.50 |
| Nikkei 225 Day | 62480.57 | (-)0.37 |
| TOPIX FIRST SECTION | 3830.09 | 0.02 |
| KOSPI | 7822.00 | 4.32 |
| FTSE Singapore Strait Times | 4928.59 | 0.14 |
| S&P/ASX 200 INDEX | 8696.70 | (-)0.55 |
(Ruchira Kagita)
Equity Alert: Strong week for Wall Street; S&P 500, NASDAQ hit new highs
MUMBAI--0735 IST--The US indices ended the week to Friday on a strong note, largely driven by a rally in technology stocks. The market braved some jitters due to concern stemming from intensified tensions between the US and Iran. The NASDAQ and the S&P notched their sixth straight week of gains, and the indices touched new all-time highs Friday.
On Friday, chipmakers performed well. Intel ended the day nearly 14% higher after The Wall Street Journal reported that the company reached a preliminary agreement with Apple to manufacture chips. For the week, shares of Intel closed with whopping 25% gains. Among others, Qualcomm closed 8% higher Friday, and Nvidia and Apple ended 2% higher.
Further, the total non-farm payrolls edged up 115,000 in April and the rate of unemployment was unchanged from March at 4.3%. This was much better than economists' estimates of an increase by 55,000, Reuters reported. The US labour market seems to be stabilising, and the recent data also lent some cheer to the Street.
"This is an economy that seems hard to wreck," Rob Williams, chief investment strategist at Sage Advisory Services told Reuters. "It's the productivity story, the spending, the consumer wealth effect and the earnings," Williams said.
The following were the closing levels of major US indices on Friday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
49609.16 | 0.02 |
|
NASDAQ Composite |
26247.076 | 1.71 |
|
S&P 500 |
7398.93 | 0.84 |
(Ruchira Kagita)
US$1 = INR 95.20
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
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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