Equity Alert
ICICI Bk up 3%; pvt sector bks to benefit from FCNR (B) scheme
This story was originally published at 15:31 IST on 11 June 2026
Register to read our real-time news.Informist, Thursday, Jun. 11, 2026 Tel +91 (22) 6985-4000
Equity Alert: ICICI Bk up 3%; pvt sector bks to benefit from FCNR (B) scheme
MUMBAI--1501 IST--Shares of ICICI Bank rose 3% to a one-month high of INR 1,333. The index heavyweight was the top gainer among Nifty 50 constituents. Private sector banks are said to benefit more than state-owned lenders from the Reserve Bank of India's move to cover the hedging costs for the amount banks raise through three-to-five year foreign currency non-resident bank deposits till Sept. 30. This led banks to raise the interest rates on FCNR (B) deposits.
Large private sector banks, including ICICI Bank, HDFC Bank, and Axis Bank, have all raised rates for FCNR dollar deposits by nearly 300 basis points to 6% over the last two days after the RBI notified the scheme Monday. Smaller private sector lenders such as Karur Vysya Bank and CSB Bank had raised deposit rates on three-to-five year FCNR deposits to over 7%.
Private sector banks are the only entities that will be able to raise a sizeable quantum of FCNR (B) deposits as they have a private banking business and also a very large domestic lending base, according to Shankar Sharma, an Indian investor and market commentator. This is because the deposits raised in dollars cannot get adequate avenues for lending in the international markets, Sharma said in a social media post. "You need to lend to the domestic Indian market and for that you need the loan franchise," he said.
At 1458 IST, shares of ICICI Bank traded nearly 2% higher at INR 1,316. Over 31 million shares of the bank traded hands on the NSE, higher than nearly 23 million shares traded till the same time Wednesday. Its other private banking peers Kotak Mahindra Bank, RBL Bank, and IndusInd Bank rose 1-2%. The Nifty Private Bank rose 0.6%. (Adhithya Aji)
Equity Alert: Asia mkts mixed amid concerns of escalation in West Asia war
MUMBAI--1420 IST--Stock indices in Asia ended mixed even as concerns related to escalation of the war in West Asia lingered. Iran struck US military bases in Bahrain and Kuwait, several media agencies reported. This was after the US Central Command attacked Iran's "military surveillance capabilities, communication systems, and air defense sites," it said in a statement. Brent Crude oil futures slipped more than 3% from the day's highs to around $92 per barrel.
South Korea's KOSPI had opened 2% lower Thursday, but managed to recoup its losses before the end of the trading session. The benchmark index closed 0.4% higher. Index heavyweight SK Hynix closed with gains of almost 3%. Shares of Samsung Electronics, however, lost 1% though the stock did come off lows; it had fallen as much as 5% intraday. The FTSE Singapore Strait Times, which was in the red in early trade, closed 1% higher.
According to media reports, Japan's central bank governor Kazuo Ueda has been hospitalised and is likely to be absent during the monetary policy review scheduled for Jun. 15–16. Ueda, however, may express his views through a statement while Bank of Japan Deputy Governor Ryozo Himino is likely to serve as the acting chair, Bloomberg reported. Shinichi Uchida, another deputy governor, may host the post-meeting press conference.
"The governor missing just one policy meeting won't cause big problems. But if it turns into something longer, that's a different story," former board member of the Japanese central bank, Takahide Kiuchi, told Reuters. The Bank of Japan is expected to hike rates at the upcoming policy review. Japan's benchmark Nikkei 225 closed slightly higher, while the broader market TOPIX fell 0.5%.
The following were the levels of major Asian indices at 1421 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4722.4122 | (-)0.55 |
| Hang Seng Index |
24249.29 |
(-)0.65 |
| Nikkei 225 Day | 64217.27 | 0.06 |
| TOPIX FIRST SECTION | 3830.35 | (-)0.45 |
| KOSPI | 7763.95 | 0.43 |
| FTSE Singapore Strait Times | 4995.03 | 0.73 |
| S&P/ASX 200 Index | 8633.20 | (-)0.23 |
(Ruchira Kagita)
Equity Alert: DOMS Industries up 8%, co set to acquire Reynolds Pens
MUMBAI--1340 IST--Shares of DOMS Industries rose nearly 8% to an intraday high of INR 2,279. This was after the company said late on Wednesday that it would acquire Reynolds Pens India. The agreement will result in DOMS buying certain asstes and intellectual property related to the manufcaturing of pens, markers, highlighters, and markers under the Reynolds brand for $3.70 million.
The move is likely to play out positively for the company since it will lead to portfolio expansion. The deal is set to be completed on Jul. 1 and upon completion, DOMS Industries will grant Reynolds Pens a royalty-free licence to use the 'Reynolds' brand as part of its corporate name. The stationery major will also acquire Reynolds Pens India's social media accounts. DOMS also said it inked an asset purchase agreement with Sanford, and when the deal takes effect, Sanford will allow DOMS a royalty-free licence to use the 'Paper Mate' brand.
For the March quarter, DOMS posted a consolidated net profit of INR 567.36 million on revenue of INR 6.04 billion. At 1337 IST, shares of the arts supplier maker were 7% higher at INR 2,269.80 on the NSE. (Ruchira Kagita)
Equity Alert: Indices come off highs; broader markets underperform
MUMBAI--1337 IST--Benchmark stock indices came slightly off highs but remained in positive territory. While banking and pharmaceutical stocks remained gainers, information technology stocks lagged in the Nifty 50 index. Crude oil prices continued to ease. At 1332 IST, August futures of Brent Crude oil were at $92.62 per barrel, down 3% from an intraday high of $95.5 per barrel. Broader market indices continued to underperform their benchmark peers. While Nifty small-cap indices were down 0.3-0.8%, Nifty mid-cap indices were down 0.7?ch.
At 1337 IST, the Nifty 50 and the BSE Sensex were up 0.2?ch at 23250.75 and 74156.48, respectively. ICICI Bank, up 2.4%, was the highest gainer in the Nifty 50. Peers Kotak Mahindra Bank, Axis Bank, and SBI were up 0.5–1.9%. Banks are expected to see relief in deposit growth after the Reserve Bank of India's swap facility to raise fresh foreign currency non-resident deposits. Pharmaceutical and healthcare stocks Cipla, Sun Pharmaceutical Industries, and Max Healthcare rose 0.4-0.8%. Among individual stocks, Bharti Airtel was up 1%. On Wednesday, the company said it has deployed more than 2,900 new fifth-generation mobile network sites across several states over the past year.
IT companies Infosys, HCL Technologies, and Tech Mahindra, down 1.2-2.2%, continued to lag amid anxieties over artificial-intelligence-related disruptions. Analysts expect Claude Fable 5, a newly launched artificial intelligence model by Anthropic, to pose risks to Indian IT service companies.
Vodafone Idea, up 3.7%, was the top performer in the Nifty 200 index. Pharmaceutical players Torrent Pharmaceuticals, Lupin and Aurobindo Pharma, up 1–2.8%, were also among the prominent gainers. Power Finance Corp. and REC, down 4.2% and 3.1, respectively, remained among the worst hit stocks in the index after President Murmu have her approval to their merger. Public sector lenders Bank of Baroda and Housing & Urban Development Corp. down 3.1?ch, were also among the laggards. Aegis Logistics, up 12%, came off highs but remained the highest gainer in the Nifty 500 index, while Jain Resource Recycling extended its losses, down 8%, and remained the worst-hit stock. (Shruti Nair)
Equity Alert: PFC falls 4%, REC dn 3% post President Murmu's nod for merger
MUMBAI--1328 IST--Shares of Power Finance Corp. fell nearly 4% to an intraday low of INR 415.20. The stock declined after President Droupadi Murmu approved the merger of REC with the non-banking finance company. Shares of REC fell nearly 3% to an intraday low of INR 338.70. In the Union Budget for 2026-27 (Apr-Mar), Finance Minister Nirmala Sitharaman had proposed the merger of Power Finance Corp. with REC. The purpose of the merger is to streamline the two NBFCs, Sitharaman had said.
The President of India is the promoter of both REC and PFC. At 1323 IST, shares of Power Finance Corp. traded 4% lower at INR 413.80, while shares of REC fell 3% to INR 338.25. The former was the worst hit stock among Nifty 200 constituents. (Adhithya Aji)
Equity Alert: MTAR Tech dn 11% as US client reports data centre buildout pause
MUMBAI--1310 IST--Shares of MTAR Technologies fell almost 11% to an intraday low of INR 6,330 on the NSE Thursday after shares of its key client Bloom Energy plumetted 10% overnight in the US. Investor sentiment was hit after a key data centre project linked to Bloom Energy was unexpectedly put on hold, several media reports said. MTAR Technologies manufactures and fabricates critical assemblies for the US-based company.
Overnight, Bloomberg reported that a Crusoe energy data-centre project linked with artificial intelligence infrastructure buildout was put on hold, raising concerns among investors over the pace of execution of Bloom Energy's commercial fuel-cell pipeline. MTAR manufactures hot box assemblies and solid oxide fuel cell systems for Bloom, which contributes around 55–65% of its total revenue. The company is currently developing and manufacturing hydrogen boxes and electrolysers for Bloom Energy, according to an investor presentation.
At 1303 IST, shares of MTAR Technologies were down 9.8% at INR 6,423.5. Over 3 million shares of the company have changed hands on the NSE so far, almost fourfold higher than the number of shares traded till the same time Wednesday. Shares of the company have soared in 2026, adding over 160% in value in the year so far despite Thursday's decline. (Eshitva Prakash)
Equity Alert: Indices rise more as crude oil prices slip; bks, pharma cos up
MUMBAI--1252 IST--Benchmark indices were in positive territory during the second half of the session. With more of its constituents climbing into the green, the Nifty 50 breached the 23300 level briefly. Crude oil prices slipped to around $93 per barrel from an intraday high of $95.5 per barrel even as Iran claims to have launched retaliatory strikes against US bases in Kuwait, Bahrain, and Jordan. Crude oil remains the main driver of traction in domestic markets, according to analysts.
At 1232 IST, the Nifty 50 was up 0.4% at 23312.65 points, and the BSE Sensex was up 0.5% at 74359.63 points. Broader markets underperformed their headline peers, shedding 0.1-0.3%. However, the Nifty Smallcap 50 index was an outlier among peers and gained 0.2%. Information technology stocks were among the main laggards, while banks and pharmaceutical companies gained.
Banking stocks extended gains. ICICI Bank remained the top gainer in the Nifty 50 index. The stock hit its highest level since April at INR 1,329. Peers Kotak Mahindra Bank, HDFC Bank, and Axis Bank also rose 0.8-2.3%, respectively. The Nifty Private Bank index, up 1.5%, was the top gaining sectoral index. After the Reserve Bank of India introduced a swap facility to raise fresh foreign currency non-resident deposits, banks are expected to see a pickup in deposit growth, according to analysts. The central bank will also cover hedging costs for the amount banks raise through three-five year FCNR(B) deposits till Sep. 10. Following the decision, many banks raised interest rates on their FCNR(B) deposits of tenures ranging from three to five years.
Pharmaceutical stocks Sun Pharmaceutical Industries, Cipla, and Dr. Reddy's Laboratories rose 0.8-0.9?ter Pharmaceutical Secretary Manoj Joshi said the government would prioritise supply-chain resilience in the industry. He also said that cabinet approval for the BioPharma SHAKTI, a scheme to support high-value domestic production in the sector, is expected in three months. In the Nifty 200, Aurobindo Pharma, Lupin, and Torrent Pharmaceuticals rose 1–3% and were among the notable gainers, while Wockhardt was up 5.7% in the Nifty 500.
IT stocks remained the main laggards in the Nifty 50, with Wipro, HCL Technologies, and Infosys down 0.9-2.1%. The stocks fell amid the launch of Claude Fable 5, an artificial intelligence model by Anthropic. Power Finance Corp., down 3%, was the worst hit stock in the Nifty 200 index after the government approved its merger with REC, which was down 2.2%. The Budget for 2026-27 (Apr-Mar) had proposed restructuring PFC and REC to achieve scale and efficiency in public-sector non-banking finance companies. Aegis Logistics, up 14% was the highest gainer in the Nifty 500 index, while Jain Resource Recycling, down 5.6% was the worst-hit stock. (Shruti Nair)
Equity Alert: Citi cuts Nifty 50's 12-mo target to 26000 pts on global risks
MUMBAI--1250 IST--Brokerage firm Citi has cut its 12-month target for the Nifty 50 index to 26000 points from 27000 points due to greater geopolitical risks, according to various news reports. The revised target implies an upside potential of 12% from current levels. Citi's latest cut to the target for the index was the second this year. In March, the brokerage had cut the Nifty 50's year-end target to 27000 points.
The combined impact of geopolitical tensions, artificial intelligence-related uncertainties, and El Nio risks has resulted in subdued sentiment among foreign institutional investors, Moneycontrol reported, citing the brokerage. Citi also emphasised that India's allocation in global emerging market funds is currently at a near five-year low, while an active underweight positioning of the Indian markets is close to the highest level in 20 years.
The brokerage also lowered its target valuation multiple for the index to 18 times the one-year forward earnings from 19 times. This reflects a more cautious earnings outlook, Moneycontrol said in the report. It also warned that persistent geopolitical tensions could push up the risk of earnings downgrades across sectors. Domestic demand trends remain healthy and valuations have become more reasonable post the recent correction in Indian equities, the brokerage said, despite the near-term concerns.
According to a CNBC-TV18 report, a significant slowdown in the IT sector and global capability centre could impact job and wage trends, and further deterioration will have to be watched, though there is currently a slowdown, the brokerage said. Citi also warned that any moderation in domestic inflows could weigh on market performance.
Citi retained its 'overweight' call on financials, telecom, healthcare, utilities, and defence, while an 'underweight' call was maintained on IT services, consumer staples, and metals. The brokerage also added Hitachi Energy as its preferred stock following its recent initiation of coverage on the company. (Arundathi A R)
Equity Alert: Hike in FCNR (B) rates to shore up deposits, says analyst
MUMBAI--1230 IST--Banks are expected to see a rise in deposit growth after the Reserve Bank of India's swap facility to raise fresh foreign currency non-resident deposits, according to Sweta Padhi, lead analyst at IDBI Capital. The RBI announced measures to attract overseas capital in a move to support the weakening rupee. The central bank also decided cover the hedging costs for the amount banks raise through three-five year FCNR (B) deposits till Sep. 10.
Following the decision, many banks raised interest rates on their FCNR (B) deposits of tenures ranging from three to five years. HDFC Bank raised the interest rates on three–five-year deposits by 260 basis points to 6%. AU Small Finance Bank hiked the deposit rates to 7.10% from 5.15?rlier.
With banks hiking their FCNR (B) rates post the RBI's decision, the sector is expecting a rise in deposit growth. The banking sector has been facing an almost compressed credit–deposit and current account-savings account ratio over the past two years, according to Sweta Padhi, said. Padhi believes that foreign capital inflows will ease the building pressure to retain deposits in the banking system. The banking sector is expected to raise around $35 billion–$40 billion through FCNR (B) deposits, which would also support for India's forex reserves, she added.
Probable moderate monsoon and El Nino effects coupled with inflation are likely to add some crunch to the bank's interest income, Padhi added. However, elevated inflation may prompt another repo rate hike by the RBI, which could benefit banks by supporting margin expansion.
The banking shares traded mixed Thursday. The Nifty Private Bank was up nearly 2%, while the Nifty PSU Bank declined 0.8%. The Nifty Private Bank was supported by the gains in the stocks of ICICI Bank, which rose nearly 3% and Kotak Mahindra Bank, which gained over 2%. Axis Bank, IndusInd Bank, and HDFC Bank rose around 1?ch. Barring State Bank of India, which rose 0.6%, all other constituents in the Nifty PSU Bank fell. UCO Bank, Indian Overseas Bank, Bank of India, Bank of Baroda, and Central Bank of India were down around 2?ch. (Adhithya Aji)
Equity Alert: Equirus Securities upgrades RIL to 'long' from 'add'
MUMBAI--1220 IST--Equirus Securities upgraded its stance on Reliance Industries to 'long' from 'add', with a target price of INR 1,586. This target implies a 25% upside from the stock's current market price. The brokerage upgraded its stance given the stock's improving profitability in oil-to-chemicals, value unlocking in telecom business Jio, and growth in its retail segment. The stock's recent correction also supports the case for a re-rating, according to the brokerage.
Nifty 50 heavyweight RIL is down over 19% since the start of this year, and the benchmark index has fallen over 11% during the same period. The stock's valuations now seem attractive, with a price-to-earnings multiple of 19, the brokerage said. "Reliance's valuation mix has structurally shifted, yet mkt. still prices it like a refining-heavy conglomerate," Equirus Securities said in its report. The company's telecom and retail segments account for over 65% of the brokerage's enterprise value. The contribution of its oil-to-chemicals division has been cut to about 22%, Equirus Securities said.
"Jio remains group's most predictable earnings engine," the brokerage said. Jio's subscriber base rose 7% on year during 2025-26 (Apr-Mar), with its average revenue per user rising to INR 214 from INR 150 in FY22. Further, the broking firm said it expects a tariff hike from Jio in another two quarters. This hike is seen as a key earnings lever for RIL.
The worst for the company's earnings before interest, tax, depreciation, and amortisation margin in its oil-to-chemicals business seems to be over, Equirus Securities said. The company's EBITDA per tonne in this segment fell to $84-$90 from a peak of $105-$118, the brokerage noted, adding that this margin reset indicates a path to recovery for the company. Equirus Securities projected the company's EBITDA per tonne in the oil-to-chemicals segment at $97 in FY27 and $105 in FY28.
However, RIL's asset size-capital expenditure ratio leaves room for improvement. The company's assets grew 45% over FY22-26 while its capital expenditure remained at 6-9% of the asset base. "Without a step-up in capex (capital expenditure) intensity, conditions for another major rerating remain still absent," the brokerage said. It sees contribution of the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar going up in the next few quarters.
Equirus Securities expects RIL's consolidated EBITDA to grow at a compounded annual rate of around 7% over FY26–28, driven mostly by its telecom and retail businesses. For the March quarter, RIL posted a consolidated net profit of INR 169.71 billion on revenue of INR 2.99 trillion. At 1218 IST, shares of RIL were 1% higher at INR 1,271.50 on the NSE. (Ruchira Kagita)
Equity Alert: Sugar cos up as select ethanol blended petrol exempted from duty
MUMBAI--1215 IST--Shares of sugar manufacturing companies rose Thursday after the central government exempted from excise duty petrol blended with 22-30% ethanol, extending support to blends beyond the currently existing E20.
Ethanol is a renewable biofuel produced by fermenting sugars. At 1211 IST, shares of Balrampur Chini Mills, Triveni Engineering & Industries, and Dhampur Sugar Mills traded 1–3% higher. Shares of Shree Renuka Sugars traded in the green, after giving up most of its intraday gains on likely profit booking.
According to the finance ministry's notification, E22 fuel will comprise 78% petrol and 22% ethanol, while E25, E27 and E30 fuels will contain 25%, 27% and 30% ethanol, respectively. The exemptions apply to the appropriate duties of excise that have been paid on motor spirit and applicable goods and services tax paid on ethanol used in the blend.
On Apr. 28, the Ministry of Road Transport and Highways had issued a notification proposing amendments to the Central Motor Vehicles Rules to include higher ethanol blends such as E85 and E100, as well as biodiesel and hydrogen blended gas. E85 is 85% ethanol blended with petrol, E100 is pure ethanol used in flex-fuel vehicles. (Eshitva Prakash)
Equity Alert: IT cos down on Anthropic's new AI-model launch; Nifty IT dn 2%
MUMBAI--1110 IST--Shares of information technology companies tumbled Thursday as analysts expect Claude Fable 5, a newly launched artificial intelligence model by Anthropic, to pose risk to Indian IT service companies. The Nifty IT index was pulled down as the worst performing sectoral index, down nearly 2%. All constituents of the sectoral index traded lower, with LTM falling the most at 3%.
"Capability (of AI models) has improved drastically, which has become better at software development," Sumit Pokharna, IT analyst at Kotak Securities, said. "This has increased the risk that Indian IT services jobs, especially application development and maintenance, will get done by fewer human beings or engineers in the future." This is expected to disrupt the existing models of Indian IT services companies, he said.
According to Pokharna, Indian IT companies which have a higher exposure to application development will face the biggest risk. The companies like Infosys, Persistent Systems, and many midcap IT services firms are at risk. In contrast, HCL Technologies carries lesser risk as its revenue mix is more diversified, he said.
In another development, TCS Thursday announced a partnership with Anthropic to help customers scale enterprise AI adoption. The companies plan to jointly offer AI solutions for highly regulated sectors such as financial services, public services, life sciences, healthcare, aviation, telecom, and medtech, the company said in an exchange filing.
At 1109 IST, HCL Technologies, Infosys, Mphasis, Oracle Financial Services, Tech Mahindra, Persistent Systems, Wipro, Coforge, and Tata Consultancy Services were down 2.4–0.5%. (Arundathi A R)
Equity Alert: Indices come off lows; Bks, pharma stocks gain, IT cos lag
MUMBAI--1050 IST--Benchmark indices came off earlier lows but remained in the negative territory as crude oil prices hovered around $94 per barrel. At 1029 IST, August futures of Brent Crude oil were at $94.07 per barrel, up 3.6% from Wednesday's low of $90.77 per barrel after the US launched fresh strikes on Iran. More than half of the Nifty 50 constituents were in the red, with information technology stocks being the main laggards.
Both the Nifty 50 and BSE Sensex pared some of their post-open losses but were down 0.1?ch at 23187.50 and 73906.96, respectively. Broader market indices were mixed, with the Nifty mid-cap indices mirroring the losses in their benchmark peers, down 0.1-0.2%, while Nifty small-cap indices were up 0.1-0.5%.
IT stocks were among the main laggards with HCL Technologies, down 2.7%, being the worst performer in the Nifty 50 index. Its peers, Tech Mahindra, Tata Consultancy Services, and Infosys, fell 0.9–2.2%. Similarly, mid-cap players, Oracle Financial Services, LTM, and Mphasis were down around 1–3% and lagged in the Nifty 200 index. The Nifty IT index, down 1.7%, was the worst hit among sectoral indices. The index was down for the seventh straight session during which it shed nearly 11%.
Index heavyweight ICICI Bank, up 2.1%, was the top gainer in the Nifty 50 index. Peers Kotak Mahindra Bank and Axis Bank were up 0.5–0.6%. Select state-owned energy companies also rose, with Power Grid Corp. of India and Oil and Natural Gas. Corp. up 0.4% and 0.9%, respectively.
Pharmaceutical players also saw gains in the Nifty 50 index, with Dr. Reddy's Laboratories, Cipla, and Sun Pharmaceutical Industries climbing 0.4–0.5%. Peers Aurobindo Pharma, Laurus Labs, and Torrent Pharmaceuticals rose 1% and 2.2%, respectively, and were among the notable gainers in Nifty 200 index. Wockhardt rose 5.5% and was among the best performers in the Nifty 500 index. Chairman Habil Khorakiwala said the company had completed phase-I trials of its new antibiotic injection WCK 6777 in the US. (Shruti Nair)
Equity Alert: Zee Entertainment up 5%; volume surges three times intraday
MUMBAI--1035 IST--Shares of Zee Entertainment Enterprises rose nearly 5% to an intraday high of INR 107.80 on the NSE. The volume traded so far in the day surged nearly three times compared to the same time Wednesday. The stock move comes after the broadcaster Wednesday said it will raise INR 23 billion in one or more tranches to fund its business initiatives.
Zee Entertainment has particularly been in focus since May 26 when the company said it was in talks with the Federation Internationale de Football Association to broadcast the FIFA World Cup 2026 matches in India. Since then, the stock has risen over 30%. Zee Entertainment confirmed its partnership with FIFA on Jun. 1.
The stock, however, saw some selling pressure the first three days of this week and fell over 8% during this period. At 1019 IST, shares of Zee Entertainment were more than 3% higher at INR 106.20. So far in the day, over 45 million shares of the company have changed hands on the exchange.
Of the seven brokerage recommendations available with Informist on the company, five have a "buy" recommendation with an average target price of INR 119. Of the remaining two, one has a "sell" recommendation and the other has a "hold" recommendation on the stock. (Ruchira Kagita)
Equity Alert: Mkts open lower as W Asia war escalates, oil rises near $95/bbl
MUMBAI--0938 IST--Benchmark indices opened lower as the West Asia war escalated further, with the US launching fresh strikes on Iran. Washington said that these strikes were in response to Iran's unwarranted and continued aggression. The August futures of Brent crude oil were nearly 2% higher at $94.64 per barrel. At 0936 IST, the Nifty 50 was at 23102.10, down 112.85 points or 0.5%, and the BSE Sensex was at 73591.48, down 391.70 points or 0.5%.
State-owned energy players Oil and Natural Gas Corp. and Power Grid Corp. of India gained around 1?ch and were among top gainers in the Nifty 50. Power Grid Corp. of India's board approved to avail of an unsecured term loan of 80 billion yen from Japan Bank of International Cooperation. Tata Consumer Products and the heavyweight banking stock ICICI Bank rose nearly 1?ch as well.
On other hand, information technology companies were worst hit in the index. HCL Technologies, Infosys, Tech Mahindra, Tata Consultancy Services, and Wipro fell 1–3%. Automobile companies Eicher Motors, Tata Motors Passenger Vehicles, Mahindra & Mahindra fell 1-2%. Eternal, Trent, UltraTech Cement, Titan Co., and Hindalco Industries fell 1-2%. The heavyweight banking stock HDFC Bank was down nearly 1%.
Nifty Media, Nifty Pharma, and Nifty Healthcare were the only sectoral indices in the green, and they rose 0.4-0.6%. Nifty IT was the worst hit sectoral index, down over 2%. All the broader market indices also mirrored the losses in their benchmark peers. The Nifty Smallcap indices fell 0.3–0.5%, and the Nifty Midcap indices fell 0.5?ch.
Siemens Energy India was the top gainer in the Nifty 200, up nearly 2%. Vedanta, Torrent Pharmaceuticals, and Multi Commodity Exchange gained over 1?ch in the index. On other hand, Oracle Financial Services fell over 3% and was the major laggard in the Nifty 200. IT companies Persistent Systems and HCL Technologies fell around 2?ch. In the Nifty 500, Blue Jet Healthcare rose over 8% and was the top gainer, while Jain Resource Recycling fell nearly 6% and was the worst hit. (Adhithya Aji)
Equity Alert: Seen lower on fresh escalation in W Asia war, higher oil price
MUMBAI--0830 IST--Domestic equity indices are expected to open lower Thursday on fresh attacks between the US and Iran in West Asia. US President Donald Trump warned of more attacks on Iran if no peace deal is reached soon. Crude oil prices also surged to $94 a barrel from Wednesday's low of $90 a barrel. Asian equity indices fell in early trade amid the escalation of the war in West Asia.
According to media reports, the US launched new strikes against multiple targets overnight in Iran. The US military's Central Command announced the strikes were completed about four hours after they began, shortly after midnight in Tehran, Reuters reported. "The strikes are in response to Iran's unwarranted and continued aggression," Reuters reported, citing Central Command.
Trump Wednesday told Fox News the strikes would stop shortly but that he would "bomb the shit out of them" if Iran's leaders did not sign an agreement with the US immediately, Reuters reported. Wednesday, Trump warned the military is preparing to strike again, claiming, "They've taken too long to negotiate a deal that would have been great for them; now they will have to pay the price."
At 0734 IST, Brent crude oil August futures contract was over 1% higher at $94.40 a barrel. Trump told reporters Wednesday that he "loved" inflation when asked about the US government's consumer inflation data for May, Reuters reported. "When it's over, you will see oil drop to where it was before," Trump said. "It's coming down. It's going to come down like a rock," Reuters said, citing Trump.
At 0803 IST, the GIFT Nifty June futures contract was marginally lower at 23049.50. This was 165 points lower than the Nifty 50's previous close of 23214.95. "Technically, the Nifty index has been going through a consolidation range (23000-23500 spot levels)," Vipin Kumar, technical and derivatives analyst at Globe Capital Market, said. "A decisive close below 23000 spot levels could drag the index towards 22700 and lower levels in the immediate near term. Conversely, sustained trading above 23500 spot levels could lead it towards a sustainable recovery."
Among Asian markets, South Korea's KOSPI logged a nearly 2% loss in early trade. Taiex, Topix First Section, and Hang Seng Index were down over 1?ch. In the US market, all three major indices settled almost 2% lower each on Wednesday. (Arundathi A R)
Equity Alert: Asian mkts fall as West Asia war escalates, crude prices rise
MUMBAI--0812 IST--Indices in Asia were lower Thursday as sentiment remained weak amid a sharp sell-off in major US indices overnight and Brent crude oil futures climbing more than 4% from Wednesday's lows to around $95 per barrel. Crude oil prices went up amid the escalation of the war in West Asia. South Korea's KOSPI fell the most among regional peers in the early hours of trade, down nearly 2%.
"CENTCOM (US Central Command) forces launched strikes on Iranian military surveillance capabilities, communication systems, and air defense sites across Iran," the US Central Command said in a statement. The US military struck in self-defence and in response to "Iran's unwarranted and continued aggression," it said.
In Japan, shares of heavyweights SoftBank Group Corp. were down 4%, and those of Advantest Corp. were down over 2%. Some other important technology and electronics stocks attempted to recover some of their losses. Tokyo Electron was up 0.4% and Murata Manufacturing Co. was up 0.3%. Shares of silicon wafer maker Shin-Etsu Chemical Co. were down 0.6%. In South Korea, shares of KOSPI heavyweight Samsung Electronics Co. fell 2%.
"Given already stretched valuations, these extreme bullish expectations set a vulnerable backdrop for momentum in Korea, Taiwan and the Asia tech sector," Reuters quoted Rupal Agarwal, Asia quant strategist at Bernstein, as saying in a note to clients. The KOSPI has risen over 15% since the end of April, and Taiwan's key TAIEX index has risen by almost 10%.
The following were the levels of major Asian indices at 0817 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4715.5796 | (-)0.70 |
| Hang Seng Index | 24050.99 | (-)1.46 |
| Nikkei 225 Day | 63328.54 | (-)1.33 |
| TOPIX FIRST SECTION | 3788.46 | (-)1.54 |
| KOSPI | 7583.66 | (-)1.90 |
| FTSE Singapore Strait Times | 4931.10 | (-)0.56 |
| S&P/ASX 200 Index | 8602.80 | (-)0.58 |
(Ruchira Kagita)
Equity Alert: US mkts end sharply lower Wed as sell-off in tech cos continues
MUMBAI--0745 IST--Headline indices in the US ended sharply lower Wednesday, falling for the second trading day in a row. The Dow Jones Industrial Average, the S&P 500, and the NASDAQ Composite were down nearly 2?ch. The sell-off in technology stocks continued. The Dow Jones, down by almost 1,000 points, closed below the 50000 mark for the first time after 14 sessions. The large-cap index was dragged down mainly by Caterpillar which fell 6%, Honeywell International fell 5%, and Goldman Sachs Group 3%.
Among technology stocks, Broadcom fell almost 6%, Qualcomm 7%, Advanced Micro Devices and Micron Technology fell nearly 5?ch. Super Micro Computer tumbled a whopping 28?ter the company said it planned to raise $7 billion through equity-linked means to meet the rising demand for its servers and storage systems. Shares of chipmaker Nvidia Corp. and those of Elon-Musk-led Tesla also fell close to 4%. The Philadelphia Semiconductor Index fell almost 4% Wednesday. The S&P 500 Information Technology, one of the 11 key sectoral indices, fell over 2%.
Meanwhile, US consumer prices for May rose 4.2% on year in May, as against a 3.8% rise in April. This was the steepest increase seen in inflation since April 2023 when inflation went up 4.9% on year. Retail inflation was driven higher due to elevated energy prices. Energy inflation went up 23.5% on an annualised basis, a level unseen since 2022 when global energy prices suffered due to the war between Russia and Ukraine. The core inflation, which excludes food and energy prices, increased 2.9% year-on-year in May after rising 2.8% in April.
"With core measures suggesting more limited price increases and much of the upside coming from oil directly (energy) or indirectly (airfares), today's (Wednesday) release suggests that inflationary pressures stemming from the oil price shock have remained manageable for the US economy so far," Barron's quoted Josh Jamner, senior investment strategy analyst at ClearBridge Investments as saying.
The following were the closing levels of major US indices on Wednesday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
49918.78 | (-)1.87 |
|
NASDAQ Composite |
25169.501 | (-)1.98 |
|
S&P 500 |
7266.99 | (-)1.62 |
(Ruchira Kagita)
US$1 = INR 95.75
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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.
NSE: National Stock Exchange
NYSE: New York Stock Exchange
NYMEX: New York Mercantile Exchange
SEBI: Securities and Exchange Board of India
RBI: Reserve Bank of India
Internet links:
Securities and Exchange Board of India - http://www.sebi.gov.in
Bombay Stock Exchange - http://www.bseindia.com
National Stock Exchange of India - http://www.nseindia.com
Directory of Indian government websites - http://goidirectory.nic.in
Indian Ministry of Finance - http://www.finmin.nic.in
Reserve Bank of India - http://rbi.org.in
Controller General of Accounts, Government of India - http://www.cga.nic.in
Government's Press Information Bureau - http://www.pib.nic.in
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
Share this Story:
