Equity Alert
Indices to move in range on Nifty 50's weekly contracts expiry
This story was originally published at 16:23 IST on 29 June 2026
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Equity Alert: Indices to move in range on Nifty 50's weekly contracts expiry
MUMBAI--1600 IST--Domestic benchmark indices are expected to move sideways on the expiry day of the Nifty 50's weekly derivatives contract Tuesday. The renewed hostilities in West Asia are also expected to contribute to volatility in the market, analysts say. Even though Brent crude oil was around $72 a barrel, its edging up over 1% from the previous day levels may also dampen the sentiment.
Monday, the Nifty 50 settled at 23946.25, down 109.75 points or 0.5%. The BSE Sensex ended at 76728.37, down 372.10 points or 0.5%. "Expect (Nifty 50) to recover from lower levels, and on the higher side, any decisive move above 24200 (points) is likely to take Nifty towards 24500 level," Rupak De, senior technical analyst at LKP Securites, said. He expects volatility to persist in the short term due to NSE monthly expiry on Tuesday and sentiment to remain positive till Nifty 50 holds above the 23800 level. Analysts see the 50-stock index finding support at 23800 levels and facing resistance at 24200 levels.
"The short-term trend of Nifty (50) has turned weak with range bound action," Nagaraj Shetti, senior technical research analyst at HDFC Securities, said in a note. "There is a possibility of more choppy movements in the next 1–2 sessions before bouncing back again from the lows."
"The market currently lacks clear near-term direction, with expectations for the Q1FY27 (Apr-Jun) earnings season remaining subdued amid supply constraints, persistent inflationary pressures, and a weak monsoon outlook, all of which are likely to weigh on margins," Vinod Nair, head of research at Geojit Investments, said in a note.
The Indian rupee ended sharply lower on Monday at 94.54 against the dollar. On Thursday, foreign institutional investors and domestic investors net bought shares from the equity market. Foreign investors net bought shares worth INR 3.84 billion, while domestic investors bought shares of INR 57.48 billion. (Arundathi A R)
Equity Alert: Mkt ends lower; Nifty 50 settles below 24000 level after 2 days
MUMBAI--1535 IST--Domestic equity indices closed lower Monday, with the Nifty 50 slipping below the 24000 level, after two straight sessions of gains. Renewed hostilities in West Asia and expiry of the Nifty 50's weekly derivatives contract on Tuesday led to volatility in the market. The 50-stock index settled below the psychologically crucial 24000 point level after two sessions. Less than half the Nifty 50 constituents ended the session higher.
The Nifty 50 settled at 23946.25, down 109.75 points or 0.5%. The BSE Sensex ended at 76728.37, down 372.10 points or 0.5%. India VIX closed over 4% higher at 13.6100 points.
Broader market indices were almost in line with their benchmark peers, with all Nifty small-cap indices down around 0.5?ch. Meanwhile, mid-cap indices ended the session 0.4% lower each.
Among sectoral indices, only Nifty Pharma, Nifty Healthcare, Nifty Metal, and Nifty Energy gained for the session. The Nifty Auto ended as the worst performer among sectoral indices, down 2%. The Nifty Media, Nifty Oil & Gas, and Nifty IT settled down over 1?ch.
In the 50-stock index, Kotak Mahindra Bank was the key drag, down over 3%. Automobile companies remained as major laggards, with Mahindra & Mahindra, Maruti Suzuki India, Tata Motors Passenger Vehicles, Eicher Motors, and Bajaj Auto down 2.2-2.8%.
On the other hand, pharmaceutical and healthcare stocks gained the most in the Nifty 50 index. Max Healthcare Institute was the top gaining stock in the index, up over 2%. Dr.Reddy's Laboratories, Cipla, Apollo Hospitals Enterprise, and Sun Pharmaceutical Industries were up 0.6-1.8%.
Persistent Systems and Astral, down 8.0–11.2%, remained major drags on the Nifty 200 index. National Aluminium Co. and Vedanta gained around 4?ch in the Nifty 200 index. While Zydus Wellness ended as the major gainer in the Nifty 500 index, with almost 10% gains, Schneider Electric Infrastructure hit the 10% upper circuit. (Arundathi A R)
Equity Alert: Nifty 50 June ends at premium of 24.75 points to spot index
MUMBAI--1534 IST--The June futures contract of the Nifty 50 closed at a premium of 24.75 points to the spot index Monday. Open interest in the contract fell 6.2% to 9.33 million, according to provisional data.
--Nifty 50 closed at 23946.25 points, down 109.75 points or 0.5% vs Thursday
--Nifty 50 June closed at 23971.00 points, down 131.30 points or 0.5% vs Thursday
Nifty 50 options, expiring Tue, with maximum change in open interest:
Call: 24000, Put: 23800
Nifty 50 options, expiring Tue, with maximum open interest:
Call: 24000, Put: 24000
(Simran Rede)
Equity Alert: Ather Energy up; CLSA says EL platform to drive profitability
MUMBAI--1517 IST--Electric two-wheeler maker Ather Energy's shares rose nearly 10% to an all-time high of INR 1,095.70. Global brokerage CLSA said the company's EL platform and portfolio diversification is expected to drive profitability. It maintained an 'outperform' call on the stock with a target price of INR 1,450.
The EL platform is an electric vehicle structure developed by the company to reduce costs. "...EL will play a dual role in our expectation. It will give us the opportunity to expand margins with less dependence on really expensive commodities like aluminum, even reduced copper, and considerable cost reduction fundamentally with how we've designed this platform," Tarun Mehta, chief executive officer of Ather Energy, had said in the March quarter earnings call.
CLSA said raw material inflation is a key negative factor for the company. The PM E-Drive subsidy is set to lapse this quarter and all eyes are on an extension for this, NDTV Profit reported, citing CLSA. Capital raising measures of the company are expected to fund growth and supply chain diversification, according to CLSA. At 1515 IST, shares of the company were nearly 8% higher at INR 1,076.90 on the National Stock Exchange. (Adhithya Aji)
Equity Alert: European mkts dn; investors assess halt in US-Iran hostilities
MUMBAI--1440 IST--Most stock indices in Europe were down in early trade on Monday as investors considered the viability of the interim peace deal between the US and Iran after the two parties agreed to halt hostilities. This comes after a tense weekend of military escalation between the two countries. France's CAC 40 was the worst performing regional index, while Italy's FTSE MIB was the only gainer during early trade.
On Monday, the pan-European Stoxx 600 was flat shortly after open, with technology stocks supporting the benchmark. The sectoral index for the region was up 1.2% in early trade. The gains in the sector come after the sell-off in global technology stocks last week. Chip stocks such as Soitec and STMicroelectronics, jumped 5.5% and 3.4%, respectively. Shares of Munich-based digital engineering firm Nagarro skyrocketted 92?ter India's Persistent Systems secured 21% stake in the former with an offer to buy outstanding shares at 81 euros per share.
The August futures of Brent crude oil inched up 1% to nearly $73 per barrel as investors assessed the transit of ships through the Strait of Hormuz after tensions spiked in the region over the weekend. The interim peace agreement between the US and Iran last week had inspired some optimism among brokerages, with J.P. Morgan raising its year-end target for European equity indices on Monday, citing corporate earnings strength and improvement in the geopolitical climate. The brokerage lifted its target for the benchmark STOXX 600 index to 680 from 630, as well as for the MSCI Eurozone index to 420 from 385.
Monday, investors in the region will track the European Central Bank's Sintra conference, where speakers include Federal Reserve Chair Kevin Warsh and European Central Bank President Christine Lagarde. Traders are pricing in one more rate hike of 25 basis points by the European Central Bank later this year, LSEG-compiled data showed.
Following are the levels of major European indices at 1434 IST:
| Index | Level | Change in % |
| FTSE 100 Index | 10482.66 | -0.24 |
| CAC 40 | 8350.36 | -0.41 |
| FTSE MIB INDEX | 51339.79 | 0.26 |
| DAX PERFORMANCE-INDEX | 24663.73 | -0.03 |
| SLI PR | 2264.43 | -0.19 |
(Shruti Nair)
Equity Alert: Indices remain down; automobile companies major drags
MUMBAI--1432 IST--Domestic benchmark indices remained lower with most Nifty 50 stocks down. The Nifty 50 index was almost 45 points short of the 24000 level. The Nifty Oil & Gas fell nearly 2%, with Reliance Industries down almost 2%. Automobile companies remained major drags.
At 1419 IST, the Nifty 50 was at 23960.25, down 95.75 points or 0.4%. The BSE Sensex was at 76749.02, down 351.45 points or 0.5%. Broader market indices came off lows from their earlier levels, down around 0.4?ch. India VIX was almost 6% higher at 13.8075 points.
Among sectoral indices, the Nifty Oil & Gas fell further. The index was down for the second straight session and shed 2.5% during this period. The Nifty Auto index remained the worst performing sectoral index, down over 2%. Barring Bosch, all other constituents of the automobile index were down.
The Nifty IT was down over 1%, with only Coforge and Tech Mahindra trading higher. The Nifty PSU Bank, Nifty Realty, and Nifty Infrastructure lost almost 1?ch.
While pharmaceutical and healthcare stocks remained top performers in the 50-stock index, National Aluminium Co. and Steel Authority of India were the major gainers in the Nifty 200 index, up around 3?ch. Zydus Wellness, Ather Energy, Schneider Electric Infrastructure, and Allied Blenders and Distillers gained 7.4-10.0% in the Nifty 500 index. (Arundathi A R)
Equity Alert: Rajesh Exports hits 5% lower circuit for 3rd straight session
MUMBAI--1430 IST--Shares of Rajesh Exports hit the 5% lower circuit at INR 92.17 for the third session in a row. The stock was in focus Monday after the Mint reported that KPMG Switzerland's limited purpose, non-statutory opinion issued for Rajesh Exports' Swiss subsidiary Global Gold Refineries AG was likely used to prepare the Indian-listed company's consolidated financial statement.
"Our opinion has been prepared at the request of the board of directors and does not represent a statutory audit opinion on the consolidated financial statements for the purpose of the Swiss Law. As a result, this consolidated statement may not be used for another purpose," the report quoted KPMG's engagement letter for Global Gold Refineries in 2024-25 (Apr-Mar).
Over the past three sessions, the stock lost more than 14%, falling to INR 92.17. In the last 30 days, it fell more than 22%. Rajesh Exports has been in focus after the Securities and Exchanges Board of India said the company had misrepresented almost all its revenues worth around INR 1.5 trillion between 2020–21 (Apr-Mar) and FY25. The stock's last closing price before the SEBI order was INR 109.38. (Ruchira Kagita)
Equity Alert: Most Asian indices end higher as US, Iran halt hostilities
MUMBAI--1401 IST--Most equity indices in Asia ended higher on Monday as investors assessed the halt in hostilities between the US and Iran, though concerns about the viability of a lasting peace agreement partly dampened sentiment. Hong Kong's Hang Seng outperformed its regional peers, followed by China's CSI 300. Technology stocks in the region were under pressure as market participants evaluated the potential of artificial-intelligence-led growth against growing cost pressures.
Sunday, the US and Iran agreed to halt hostilities and permit commercial vessels to transit the Strait of Hormuz. This was after a tense weekend of military escalation between the two warring parties following which US President Donald Trump threatened further military action against Iran. "United States aircraft just struck Iranian missile and drone storage locations, and coastal radar sites, for violating the Cease Fire Agreement, AGAIN!," Trump wrote on Truth Social.
Monday, equity markets moved unevenly amid investor caution, overstretched artificial intelligence-driven rallies and uncertainty about how rising costs could seep through the sector, according to a report by Reuters. South Korea's Kospi ended 0.2% lower, pulled down by index heavyweights SK Hynix and Samsung. This was after the South Korean government unveiled artificial intelligence and semiconductor mega-projects expected to attract hundreds of billions of dollars in investment over the coming years. Samsung Electronics and SK Hynix will each build two new semiconductor fabrication plants in South Korea as part of a $518-billion national semiconductor ecosystem project, the government said. Monday, SK Hynix closed nearly 2% lower, while Samsung Electronics ended nearly 5% lower.
"The narrative at the moment is focused on artificial intelligence return on investment and whether cost pressures are starting to cascade down the supply chain," Kyle Rodda, senior financial market analyst at capital.com., told Reuters.
Among the gainers, the Hang Seng ended 1.6% higher, while the CSI 300 closed 1.2% higher. Japan's Nikkei 225 and Topix also saw modest gains, ending 0.2% and 0.5% higher, respectively, after data released on Monday showed the country's overall retail sales in May rose 5.3% on year.
Following are the levels of key indices in the region at 1351 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4926.92 | 1.2 |
| Hang Seng Index | 23026.68 | 1.6 |
| Nikkei 225 Day | 69468.11 | 0.2 |
| TOPIX FIRST SECTION | 3982 | 0.5 |
| KOSPI | 8394.65 | -0.2 |
| FTSE Singapore Strait Times | 5201.14 | 0.2 |
| S&P/ASX 200 Index | 8823.4 | 0.7 |
(Shruti Nair)
Equity Alert: DCX Systems up 2%, snaps 3-day fall; co gets INR 4.3 bln orders
MUMBAI--1349 IST--Shares of DCX Systems rose over 2%, breaking a three-day decline, after the company received orders worth INR 4.32 billion Friday, which included domestic as well as export orders. At 1349 IST, shares of the company traded 1.8% higher at INR 194.64 on the NSE. Nearly 3 million shares have changed hands on NSE so far, compared with a mere 351,000 at the same time Thursday.
The company received export orders worth INR 4.09 billion to supply electronic kits. It also got domestic and export orders worth INR 224.3 million to manufacture and supply cable and wire harness assemblies. Moreover, its wholly-owned subsidiary Raneal Advanced Systems got domestic and export orders worth INR 40.2 million to manufacture and supply printed circuit board assemblies.
DCX Systems is a defence and aerospace equipment manufacturer. Its core operations include producing cable and wire harnesses and electronic system integration. For the March quarter, DCX Systems reported a consolidated net loss of INR 3.02 million on revenues of INR 2.07 billion. (Ashutosh Pati)
Equity Alert: Jefferies initiates coverage on Radico Khaitan, Allied Blenders
MUMBAI--1331 IST--Jefferies has initiated coverage on Radico Khaitan and Allied Blenders and Distillers with a "buy" recommendation and United Spirits with a "hold" call. India's alcoholic beverages space is supported by an increase in population of legal alcohol consumers and rising affordability, the brokerage said. Premiumisation is also seen as a key tailwind for the sector going forward. Radico Khaitan is the brokerage's top pick in the Indian alcoholic beverages space.
The rise in the prestige and above segment in the country's alcoholic beverage industry supported margin expansion for the sector and led to improvement in the product mix, Jefferies said in a report. The broking firm sees volumes from the P&A segment rising around 12% at a compounded annual rate between 2025-26 (Apr-Mar) and FY29 with overall industry volumes rising 5%. The free trade agreement between India and the UK is also pegged as an important growth lever for the sector.
Radico Khaitan and Allied Blenders displayed strong execution and product innovation over FY22-26, Jefferies said. These companies' P&A segment, rising 14-21?ttered the performance of United Spirits and Pernod Ricard, whose P&A volumes grew only 2-6%, according to the report.
Radico Khaitan and Allied Blenders have a "long runway for premiumisation-led growth, Jefferies said. Radico Khaitan's volumes from the P&A segment are seen rising 18% at a compounded annual growth rate over FY26-29 and those of Allied Blenders 14%. United Spirits' P&A volumes are seen increasing at a compounded annual growth rate of 6% over FY26-29. While P&A portfolio makes up 85% of United Spirits' product mix, it still comprises less than 50% of Radico Khaitan and Allied Blenders' total mix yet.
Radico Khaitan's growth is driven by strong innovation in high-margin vodka, gin, and Indian malt categories, Jefferies said. The stock's valuation is premium at a 12-month forward price-to-earnings multiple of 62 based on FY28 earnings estimates, the brokerage said. However, this valuation, it said, is justified given the company's "superior execution & brand-building capabilities". Jefferies estimates the company's earnings per share to grow around 22% at a compounded annual rate between FY26 and FY29. The brokerage set a target of INR 4,500 on the stock, implying an upside of 17% from the stock's closing price Thursday.
Allied Blenders is "transitioning into a premiumisation-led story from a mass-market base", Jefferies said. It expects the company's earnings per share rising 30% over FY26-29 at a compounded annual growth rate and its margin growth is expected to be driven by its rising premium mix. Its gross margins are seen expanding by around 300 basis points by FY28. Jefferies set a target price of INR 780 on the stock. This target implies an upside of about 25% from the stock's previous close.
Supported by parent Diageo's robust portfolio, United Spirits is seen as a proxy for premium and luxury portfolio, the brokerage said. The company's renovation of its McDowell's brand is key to decide on its earnings upgrade, according to Jefferies. The stock's valuation at a price-to-earnings multiple of about 50 based on FY28 earnings per share estimates, coupled with a 12% growth projection for the company's earnings per share over FY26-29 at a compounded annual rate, limit too much upside, according to the firm. Jefferies has a target price of INR 1,560, implying an upside of 13% from Thursday's close. Indian markets were closed on Friday on account of Muharram. (Ruchira Kagita)
Equity Alert: Omaxe rises 18% as co to invest INR 62 bln on hospitality ops
MUMBAI--1330 IST--Shares of Omaxe rose over 18% to an over one-month high of INR 92.97 after the company said it will invest INR 62 billion over the next four to five years to set up a dedicated hospitality business vertical. This investment is almost four times the market capitalisation of the real-estate developer. The company said it sees an opportunity of INR 10 billion in annual revenue from this new vertical.
At 1326 IST, shares of the company traded at INR 91.60, over 18% higher than their closing price Thursday. Over 14 million shares of the company have changed hands so far on the NSE, which is nearly 30-times higher than its six-month average trading volume.
Omaxe plans to develop 19 hotels spread across nearly 5 million square feet in five states. The hospitality developments will be integrated with Omaxe's existing ecosystem of townships, mixed-use developments, commercial destinations and urban infrastructure projects. Of the 19 hotels, 12 will be developed in Uttar Pradesh. It will develop one hotel each in New Delhi, Faridabad, and Ujjain, along with four hotels across Chandigarh, Amritsar and Ludhiana, including two properties in Chandigarh.
The hospitality portfolio will cater to multiple demand segments, including business travel, leisure tourism, destination weddings, MICE or meetings, incentives, conferences and exhibitions, and religious tourism. The hospitality portfolio will comprise midscale and upscale branded hotels, luxury and premium flagship properties, high-capacity pilgrimage hotels, and branded serviced apartments and extended-stay studios. Each asset will be developed in line with the tourism profile and demand dynamics of its respective market, the company said. (Eshitva Prakash)
Equity Alert: Indices decline more; RIL down over 1%, HDFC Bank off highs
MUMBAI--1325 IST--The Nifty 50 index fell more and slipped below the 24000 level. An over 1?ll in index heavyweight Reliance Industries and its heavyweight peer HDFC Bank coming off highs pulled the index down further. Select automobile companies declined more, with the Nifty Auto index falling over 2%.
At 1302 IST, the Nifty 50 index was at 23948.25, down 107.75 points or 0.5%. The BSE Sensex was at 76710.62, down 389.85 points or 0.5% from Thursday's close. India VIX rose over 6% to 13.8900 points. All broader market indices were down around 0.8?ch.
The Nifty Pharma, Nifty Healthcare, and Nifty Metal continued to be the only gainers among sectoral indices. The Nifty Auto was the worst performer among them, with all its constituents trading lower. The Nifty PSU Bank, Nifty Media, Nifty IT, and Nifty Oil & Gas were down over 1?ch.
Kotak Mahindra Bank was the key laggard in the Nifty 50 index, down nearly 3%. Other banking and financial services stocks, State Bank of India, Jio Financial Services, and HDFC Life Insurance Co. were down around 1?ch.
Persistent Systems and Astral, down 9-10%, were the major drags on both Nifty 200 and Nifty 500 indices. Mahindra & Mahindra Financial Services was down over 6% in the Nifty 200.
Meanwhile, Dr.Reddy's Laboratories, Max Healthcare Institute, and Cipla rose around 3?ch in the 50-stock index. National Aluminium Co. and Torrent Pharmaceuticals, up 2.7–3.5%, gained the most in the Nifty 200 index. (Arundathi A R)
Equity Alert: Honasa Consumer jumps 6% to 20-month high of INR 443
MUMBAI--1310 IST--Shares of Honasa Consumer rose 6% to their highest level in over 20 months at INR 443. The company late Friday said it will receive around INR 255.36 million from RSMM General Trading LLC., after an arbitral tribunal rectified a previous order, according to an exchange filing.
In May, an arbitral tribunal had told RSMM General to pay INR 188.84 million to Honasa Consumer. This was in relation to RSMM General initiating legal proceedings in Dubai in breach of an authorised distributor agreement with Honasa Consumer. The company will now receive the higher amount due to an upward revision of loss of profits from RSMM General's breach of the agreement and correction of substitution costs.
"The Tribunal added a dispositive direction stating that RSM must pay damages to the company aggregating to any amount sought to be recovered from the company pursuant to any Dubai court decisions related to the ADA (authorised distributor agreement) termination," Honasa Consumer said in the filing.
All three research reports on the company available with Informist have a "buy" recommendation on the stock with target prices of INR 485-INR 600. At 1301 IST, shares of Honasa Consumer traded 5.5% higher at INR 440.80 and was among the top gainers in the Nifty 500 index. So far in the day, nearly 3 million shares of the company have changed hands on the National Stock Exchange, compared with 2.7 million shares traded till the same time Thursday. (Arya S. Biju)
Equity Alert: Waaree Energies down; co clarifies on exports of solar modules
MUMBAI--1306 IST--Shares of Waaree Energies fell more than 5% to an over three-month low of INR 2,838 on the NSE. The company Monday clarified that the US Customs and Border Protection has confirmed Waaree Energies did not export solar modules manufactured using Chinese-origin solar cells to the US.
The clarification followed media reports on a determination issued by the US Customs and Border Protection in EAPA Consolidated Investigation No. 8163, which examined allegations related to the import of solar modules into the US. The customs body drew no adverse inference against the company and declined the petitioner's request to make an evasion finding covering all of Waaree Energies' imports, the company said.
The recent determination by the customs body is limited to a narrow set of historical import entries and does not affect the company's ongoing business or exports to the US. The determination is also not a final adjudication. Under applicable US law, Waaree Energies has the right to seek a "de novo administrative review" and thereafter, a judicial review before the US Court of International Trade. The US has imposed steep anti-dumping duties on imports of solar cells and modules from several countries such as China, Vietnam, and Malaysia.
Shares of the solar modules and cells manufacturer declined for the fifth consecutive session and have shed 9% during this period. At 1306 IST, shares of the company traded 5.1% lower at INR 2,856.50. So far, more than 2 million shares have exchanged hands on the NSE, significantly higher than nearly 296,000 at the same time Thursday.
"We believe CBP (US Customs and Border Protection) saying that Waaree had a "four-year history of reporting the wrong country of origin" does carry reputational weight and may impact significant part of 65-70% of Waaree's total order book of INR 530 bn (billion)," JM Financial Institutional Securities said in a report.
In its post-March quarter results conference call with analysts, Waaree Energies had said it would have 4.2 gigawatt local capacity in the US for distribution in the local markets which "insulates us from the impact of import duties." Another factor that insulates the company from import duties in the US is that it has already established a supply chain for its exports from India, including in African and European markets, it had said.
Of the 10 brokerage reports on the company available with Informist, nine have a 'buy' recommendation on the stock with an average target price of INR 3,881. (Ashutosh Pati)
Equity Alert: Power Grid shrs up 1.2%; co ups borrowing limit to INR 2.2 tln
MUMBAI--1225 IST--Shares of Power Grid Corp. of India rose 1.2% to an intraday high of INR 287.30 per share on Monday. This was after the state-owned energy player approved an increase in its borrowing limit to INR 2.2 trillion from INR 1.8 trillion. The company also approved raising $500 million through external commercial borrowings from Bank of Baroda.
Approval for a higher borrowing limit and external commercial borrowings strengthens Power Grid's financial flexibility to fund its expanding transmission capital expenditure pipeline, ICICI Securities said in a note. "The new transmission investment further supports regulated asset base growth and long-term earnings visibility, driven by increasing grid expansion and renewable energy integration," the brokerage said.
Further, Power Grid commissioned a transmission scheme for a solar energy zone of 2.5 gigawatts in Ananthapur and 1 GW in Kurnool, Andhra Pradesh. The company also sanctioned an INR 7.73-billion transmission project to upgrade the Udumalpet–Madurai 400 kilovolt line, with completion targeted by August 2028.
At 1254 IST, shares of the company were at INR 286.60, up 1% from Thursday's close. Around 4.5 million shares of the company have changed hands so far on the National Stock Exchange, lower than 6.6 million shares traded till the same time Thursday. (Shruti Nair)
Equity Alert: Pharma cos up as promising launch pipeline sparks optimism
MUMBAI--1222 IST--Shares of pharmaceutical majors traded higher Monday even as broader markets were down. The Nifty Pharma and Nifty Healthcare indices were up nearly 2?ch. An analyst attributed the rise in these stocks to defensive buying and optimism around the launch pipeline of pharmaceutical companies.
More focus on launches of specialty products by companies is promising for investors, according to Maitri Sheth, research analyst at Choice Institutional Equities. The June quarter earnings are expected to be good for pharma companies as well, Sheth said. Companies are shifting their focus from the US market to diversify and gain market share in new regions, particularly Europe. This shift comes amid the underperformance of generic Revlimid in the US market, the analyst said.
In the Nifty 50, Dr. Reddy's Laboratories and Cipla were the top gainers, up nearly 3?ch. Sun Pharmaceutical Industries was up over 1%. Dr. Reddy's Labs and Torrent Pharmaceuticals were among the top gainers in the Nifty 200, and Zydus Wellness was the top gainer among Nifty 500 constituents. (Adhithya Aji)
Equity Alert: Indices dn a tad with auto cos falling more; Nifty Auto dn 2%
MUMBAI--1215 IST--Headline equity indices were marginally lower amid a volatile session, with select automobile companies declining more. However, the Nifty 50 index stayed some points above the 24000 level, with half its constituents trading higher. The Nifty Auto index was down 2%.
At 1202 IST, the Nifty 50 was at 24014.55, down 41.45 points or 0.2%. The BSE Sensex was at 76902.11, down 198.36 points or 0.3%. Nervousness among investors rose, with volatility index India VIX up nearly 5% at 13.6525 points. Broader market indices fell more than benchmark indices. All mid-cap indices were down 0.5–0.6%, while all small-cap indices were 0.6–0.7% lower.
More sectoral indices were down, with Nifty Pharma, Nifty Healthcare, and Nifty Metal being the sole gainers, up 0.7–1.5%. On the other hand, the Nifty Auto fell more, with all its constituents trading lower. TVS Motor Co. was the biggest laggard in the sectoral index, down over 3%.
In the Nifty 50 index, Eicher Motors shed the most, down 2.5%. Mahindra & Mahindra, Bajaj Auto, and Tata Motors Passenger Vehicles were down 1.7–2.2%.
Dr. Reddy's Laboratories, Cipla, and Max Healthcare Institute were the top three gainers in the Nifty 50 index, up around 3?ch. National Aluminium Co., up nearly 3%, was among the major gainers in the Nifty 200 index. (Arundathi A R)
Equity Alert: Astral falls 9% to hit 5-mo low; co's chemical ops to demerge
MUMBAI--1130 IST--Shares of Astral shed over 9% to hit their lowest levels in over five months at INR 1,339 per share. This comes after the company on Thursday announced the approval of the de-merger of its chemical business into a wholly-owned subsidiary, Astral Chemie, formerly known as Astral Coatings. The company also approved the amalgamation of its wholly-owned subsidiary Al-Aziz Plastics with the parent company Astral. Monday, the stock was among the worst hit on the Nifty 200 as well as the Nifty 500 indices. However, most brokerages have a positive view on the development. Indian stock market was closed Friday on account of Muharram.
Broking firm Elara Capital reiterated its "accumulate" recommendation on the stock of Astral with a target price at INR 1,660, which is 50 times the price-to-earnings multiple based on March 2028 estimates. As Astral Chemie operates with its own governance and capital allocation, the brokerage sees the path to margin recovery paints scaling up and the UK business margin improving — becoming a potential catalyst for re-rating. The brokerage also increased its earnings per share estimate by 1.6% for 2026-27 (Apr-Mar), 1.4% for FY28, and 3.6% for FY29.
The demerger of the company's adhesives, paints and chemicals is expected to be done by the end of FY27. The company's management sees revenue from Astral Chemie (adhesives, paints & chemicals) reaching INR 23 billion–INR 24 billion by the end of FY27. For the next four–five years, Astral Chemie targets INR 45 billion in revenue, with most coming from the domestic adhesives business, equal contributions from the UK and US businesses, and the balance from the paints business, the brokerage highlighted comments by the management during the company's conference call.
Brokerage Prabhudas Lilladher retained its "buy" recommendation on the stock while cutting its target price on the stock by 4.5% to INR 1,779. The brokerage viewed the proposed restructuring positively as it creates two focused business platforms with independent management teams and capital allocation frameworks. "The separation is expected to enhance strategic focus, operational efficiency and decision-making agility, while enabling each business to pursue its own growth strategy," the brokerage said in a report.
The brokerage highlighted that both the plumbing and chemicals businesses already operate broadly independently, with only 3–5% overlap in employees and distribution, suggesting a smooth execution of the demerger. Around INR 1 billion of the chemical business' revenue, primarily from solvent cements, leverages the plumbing business's distribution network and sales personnel. However, apart from this overlap, the chemicals business has its own dedicated distribution channels and separate sales teams across other product categories, the brokerage said. Thus, it does not foresee any material implementation-related liabilities or incremental expenses arising from the demerger of Astral's chemicals business.
Brokerage Motilal Oswal also retained its "buy" rating on the stock and cut the target price to INR 1,710. The brokerage highlighted that the ramp-up in its India and overseas adhesive businesses as well as the newly added paint business will be the key factor that will decide the overall valuation of Astral.
Brokerage Equirius Securities believes that the demerger will create a near-term overhang on the stock's performance as investors try to gauge what multiples each individual business will command post listing. The plumbing business will command a premium multiple compared to listed peers due to industry-leading operating profitability, growth aggression, and backward integration into chlorinated polyvinyl chloride resin manufacturing, according to the brokerage.
However, the adhesive and paint business valuations are more tricky, according to the brokerage. While the business will see strong growth aggression together with a focused profitability improvement drive, it is difficult to quantify at what enterprise multiple the business will trade due to the size of the business. The brokerage has a "long" recommendation on the stock with its target price at INR 1,980 per share. (Shruti Nair)
Equity Alert: Turtlemint Fintech lists at 11% discount to issue price on NSE
MUMBAI--1115 IST--Turtlemint Fintech Solutions listed at a discount to its issue price of INR 152 on bourses. The company listed at a discount of 11.3% on the NSE at INR 134.90. So far, nearly 8 million shares of the company changed hands on the exchange. At 1059 IST, the stock was down nearly 9% at INR 138.43. On BSE, shares of the company were listed at a discount of over 10% from the issue price at INR 136.20.
The public issue of Turtlemint Fintech had closed Tuesday and was subscribed 1.2 times, with the company receiving bids for 39.55 million shares against 32.90 million shares on offer. The issue comprised an offer for sale of up to 14.60 million shares and a fresh issue of shares worth up to INR 6.61 billion.
Turtlemint Fintech is a financial technology company that connects customers, insurance advisers, and insurers. On a consolidated basis, it had reported a net loss of INR 1.87 billion on revenues of INR 7.41 billion for the nine months ended December. (Ruchira Kagita)
Equity Alert: Hexaware Tech rise; co becomes authorised Anthropic reseller
MUMBAI--1112 IST--Shares of Hexaware Technologies rose nearly 9% to an intraday high of INR 539 after the company said it had been named Anthropic authorised reseller for Amazon Bedrock. This puts Hexaware in the select group of companies across the globe that are allowed to resell Claude.
The move will allow the company to integrate AI by providing its clients simplified, enterprise-grade access to Claude models, reducing procurement friction and speeding time-to-value, according to an exchange filing.
"Claude's safety-first design is what highly regulated industries need and Hexaware has the domain knowledge, engineering excellence, and delivery scale to take it from a model to a working solution," said Siddharth Dhar, president and global head of digital IT operations & AI at Hexaware Technologies.
At 1102 IST, shares of Hexaware Technologies traded nearly 7% higher at INR 529.25 on the National Stock Exchange. Nearly 5 million shares of the company exchanged hands on the NSE, which is over 28 times higher than the number of shares traded till the same time Thursday. The stock rose for the third consecutive session and has gained nearly 11% during the period. The stock was the top gainer among the Nifty 500 constituents. Indian stock market was closed on Friday for Muharram. (Adhithya Aji)
Equity Alert: Persistent Systems down 10%; brokerages cautious on Nagarro buy
MUMBAI--1110 IST--Shares of Persistent Systems slumped nearly 10% to their lowest in over a year at INR 4,365.50 after brokerages maintained a cautious tone on the stock, citing integration and growth risks stemming from its proposed acquisition of German digital engineering firm Nagarro SE. The acquisition is also expected to double Persistent Systems' overall risk of artificial intelligence-led deflation, Nirmal Bang Institutional Equities said in a report.
At 1100 IST, shares of the company were down 9.8% at INR 4,368.50, the worst hit in both the Nifty 200 and Nifty 500 indices. So far in the day, over 3 million shares of the company changed hands on the National Stock Exchange, way higher than the 176,132 shares traded till the same time Thursday and the six-month average trading volume of 705,710 shares.
Persistent Systems Ltd. Saturday said it has entered into a share purchase agreement with Lantano Beteiligungen GmbH through its wholly-owned subsidiary, Galaxy Germany Holding SE, to acquire 21% stake in Germany-based Nagarro SE. Further, Galaxy Germany Holding entered into an agreement to acquire all outstanding shares in Nagarro through a public offer to the latter's shareholders. Both transactions are said to be at an offer price of 81 euros per share, Persistent Systems said.
The acquisition is expected to be revenue and margin dilutive in the near term, according to multiple brokerages. Nagarro's past three years' performance has been weak compared to Persistent Systems. Nagarro's revenue grew at a compounded annual rate of 5% in 2023-25 compared to 18?GR in dollar revenue for Persistent Systems over 2023-24 (Apr-Mar)-FY26, Elara Securities said in a report. Nagarro also trails Persistent Systems on profitability and margins, making the offer price – at nearly two times the prevailing market price – appear demanding, the brokerage said. "While valuations on EV/sales (enterprise value/sales) basis seem reasonable, we expect the acquisition to dilute the combined entity's revenue growth and profitability profile in the near term," it said.
Prabhudas Lilladher expects Persistent Systems' gross margin and earnings before interest, tax, depreciation, and amortisation margin to see a hit of around 120 basis points and 200 bps, respectively, due to the Nagarro acquisition. The integration is, however, expected to be earnings per share accretive despite the additional amortisation and interest expense. Emkay Global, on the other hand, sees the valuation of the Nagarro acquisition as slightly stretched.
Nuvama Institutional Equities downgraded the stock to "hold" on integration risks from Nagarro acquisition and high valuation. The transaction is likely to lower the revenue growth profile, in dollar terms, of Persistent Systems, notably from the current 15–18%, while imparting integration risk to its business, the brokerage said. Also, integration of an asset of this size in a relatively challenging geography such as Europe is fraught with multiple risks. "With these, we believe current valuations, already rich at 33x (times) FY27 PE (price-to-earnings) are unlikely to sustain." JM Financial Institutional Securities has cut the target price on Persistent Systems by 10% to INR 5,095 per share factoring in the integration risks.
The proposed Nagarro acquisition expands Persistent Systems' presence in Europe and broadens its capabilities across AI, digital engineering, enterprise resource planning, and customer experience. On the other hand, it also doubles Persistent Systems' overall risk of AI-led deflation, Nirmal Bang said. Year to date, Nagarro's share price fell roughly 55% from a high of 75 euros to 33.75 euros on demand and AI-compression fears. With around 68% of Nagarro's revenue based on the time and material model, the most effort-exposed billing model, the company reported a slowdown in organic sales growth to 2.8% from 5.3% in constant currency terms, the brokerage said. (Arya S. Biju)
Equity Alert:Dr Reddy's hits 52-wk high; mkt shrugs off 7 USFDA observations
MUMBAI--1100 IST--Shares of Dr. Reddy's Laboratories jumped around 5% to a 52-week high of INR 1,414.90, after the company said it received seven Form-483 observations from the US Food and Drug Administration for its biologics facility in Bachupally, Hyderabad. The observations came after an inspection conducted over Jun. 16–25. The pharmaceutical major expressed confidence it could address the observations within the stipulated timeline. At 1039 IST, the stock of Dr. Reddy's Laboratories was trading over 4% higher at INR 1,406.40 and was the top gainer on the Nifty 50 index with a trading volume of around 4 million.
The company's Bachupally site comprises two blocks, and it indicated that most of the new observations in the recent inspection pertain to the new block created for biosimilar Abatacept, brokerage Nomura said in its report. The older block makes Rituximab. The company was optimistic of launching Abatacept in the March quarter of 2026-27 (Apr-Mar), Nomura said. "The seven-observation outcome, with the company's clarification that most relate to the new block, is modestly encouraging," the brokerage said.
However, clearance for the usage of the facility could be a key hurdle. Risks of product-specific hurdles are relatively lower as the approval does not pursue substitutability or interchangeability, according to the report. Abatacept biosimilar is an important growth lever for the company going forward, Nomura said, adding that the drug addresses a global market of $3.7 billion. The brokerage projects the drug's net present value at $1.6 billion, which may equate to a push of INR 186 a share. The product could contribute more than 30% upside to the company's earnings in FY28 and FY29 if launched, Nomura said.
Currently, Nomura has not factored in upside from biosimilar Abatacept into its estimates, given the uncertainty about the time needed for clearance. Nomura has a "buy" stance on the stock with a target price of INR 1,740. The stock's forward price-to-earnings multiple of 25 and 20 based on earnings estimates for FY27 and FY28, respectively, are "attractive," according to Nomura. (Ruchira Kagita)
Equity Alert: Indices rise more; HDFC Bk up nearly 1%, pharma cos gain most
MUMBAI--1055 IST--The Nifty 50 index rose a tad, with index heavyweight HDFC Bank gaining more. Pharmaceutical and healthcare stocks remained the top performers in the 50-stock index. The index crossed 24100 points, with more than half its constituents gaining.
At 1037 IST, the Nifty 50 index was 0.2% higher at 24101.10, up 45.10 points. The BSE Sensex also rose further to 77196.56, up 96.09 points or 0.1%. However, broader market indices underperformed their benchmark peers, down 0.1-0.3%. Sectoral indices showed a mixed performance, with the Nifty Pharma and Nifty Healthcare gaining the most, up almost 2?ch. On the other hand, Nifty Auto was the biggest laggard, down 1%. The Nifty IT and Nifty Media logged losses of around 1?ch.
Dr. Reddy's Laboratories continued to be the top gainer in the 50-stock index, up over 4%. Cipla and Sun Pharmaceutical Industries were up 2–3%. Healthcare stocks Max Healthcare Institute and Apollo Hospitals Enterprise gained 1.2–2.5%. Torrent Pharmaceuticals and Glenmark Pharmaceuticals rose nearly 3?ch in the Nifty 200 index. Zydus Wellness was up nearly 6% in the Nifty 500 index.
Select information technology and automobile stocks were major drags on the Nifty 50 index. Eicher Motors, Mahindra & Mahindra, Tata Motors Passenger Vehicles, and Bajaj Auto fell 1.1–1.8%. IT stocks Tata Consultancy Services and Infosys were down nearly 1?ch. A nearly 1?ll in index heavyweight Reliance Industries prevented the index from gaining further.
In the Nifty 200 index, Persistent Systems was the biggest laggard, down 9%. Astral fell over 8?ter the company's board approved the demerger of its chemical business into its wholly-owned subsidiary Astral Chemie. These stocks were the major drags in the Nifty 500 index as well. (Arundathi A R)
Equity Alert: Kotak Bk dn 3% on mgmt uncertainty; CEO refuses reappointment
MUMBAI--0941 IST--Shares of Kotak Mahindra Bank fell over 3% to a low of INR 395.95 on uncertainty about leadership after the bank informed exchanges that Chief Executive Officer and Managing Director Ashok Vaswani does not wish to seek reappointment upon completion of his tenure on Dec. 31. Respecting his decision, the board has initiated the process of finding a successor, the lender said Saturday. The bank has not announced a list of candidates yet.
Nomura has listed three whole-time directors--Anup Kumar Saha, expert in consumer banking, marketing, and data analytics, Paritosh Kashyap, who previously led wholesale banking, and Jaideep Hansraj, who oversees affluent banking and human resources--as possible internal candidates. Among them, Nomura sees Saha as the strongest fit. Jefferies also sees Saha as the leading candidate, according to an NDTV Profit report.
Saha's appointment as whole-time director was approved by the Reserve Bank of India "cleanly" in March, an important pre-validation signal, according to Nomura. "We believe a Board recommendation by Sep-Oct'26 is plausible," it said. "If Saha is the internal choice, the succession path is already substantially de-risked. The risk event is an external hire, which may raise questions around the Board's succession process and create near-term execution uncertainty."
Vaswani's decision not to seek reappointment introduces leadership uncertainty at a time when Kotak Mahindra Bank is focused on accelerating growth and improving business momentum, ICICI Direct said in a report. "While the bank's fundamentals and capital position remain strong, we expect the stock's valuation to remain range-bound until there is greater clarity on the successor and the continuity of the bank's strategic direction," the broking firm said. (Gopika Balasubramanium)
Equity Alert: Indices move higher after flat opening; Nifty above 24000 pts
MUMBAI--0930 IST—-Headline equity indices were largely flat at the opening Monday, tracking the mixed performance of major equity indices in the Asia-Pacific region amid renewed hostilities in West Asia. However, the indices started gaining soon after opening. The Nifty 50 index opened above the 24000-point level for the second straight session.
At 0921 IST, the Nifty 50 index was at 24095.45, up 39.45 points from Thursday's close or 0.2% higher. The stock market was shut Friday for Muharram. The BSE Sensex was at 77161.61, up 61.14 points or 0.1% higher. The volatility index India VIX, however, indicated a rise in investor nervousness. The fear gauge of the market rose nearly 4% to 13.5275 points.
Barring the Nifty Midcap 50, all the broader market indices were down in early trade. All smallcap indices were down 0.6–0.7%. Meanwhile, sectoral indices showed a mixed performance, with the Nifty Pharma gaining the most and the Nifty Energy being the worst performer.
In the Nifty 50 index, Dr. Reddy's Laboratories was the biggest gainer, up nearly 4%. Max Healthcare Institute and Sun Pharmaceutical Industries were the other major pharmaceutical stocks that rose in the index, up nearly 2?ch. Shriram Finance and Trent were up around 2?ch. Among the losers, Kotak Mahindra Bank was the biggest laggard, down 3%.
In the Nifty 200 and Nifty 500 indices, pharmaceutical stocks rose the most. Zydus Wellness was the biggest gainer in the Nifty 500, up over 4%. Persistent Systems fell the most in both the Nifty 200 and Nifty 500 indices, down over 8%. Astral and GE Vernova T&D India were down over 6–7%. (Arundathi A R)
Equity Alert: Indices seen opening flat as mkt assesses W Asia developments
MUMBAI--0823 IST--Headline equity indices are expected to open largely flat tracking their Asian peers, which showed a mixed trend in early trade as market participants continue to assess latest developments in the West Asia war amid growing caution over renewed hostilities. Crude oil prices inched up in early trade but were still hovering around $72-$73 per barrel as the US and Iran agreed to halt recent hostilities that had cast a shadow over the interim peace deal. Analysts expect the benchmark Nifty 50 index to continue its consolidation in the 23800–24260 spot zone.
In the latest development, the US and Iran have agreed to suspend military operations and resume high-level talks in Qatar Tuesday in an effort to preserve their fragile peace agreement after days of escalating military strikes pushed the deal to the brink, Axios reported, citing a senior US official. The breakthrough comes just 11 days after US and Iran announced an interim agreement aimed at ending the four-month-long war in West Asia. However, despite the renewed diplomatic push, tensions remain high following renewed strikes by both sides and US President Donald Trump's threat to restart the war and "complete the job." The renewed fighting was sparked by competing interpretations of the memorandum of understanding to end the war — especially its terms on the Strait of Hormuz, according to Axios.
Sunday, Iran's foreign minister, Abbas Araghchi, said his country was solely responsible for managing the Strait of Hormuz. He warned against interference with managing routes through the waterway, the Barrons reported, citing accounts of his press conference. Trump said late Sunday that US aircraft had struck Iranian missile and drone storage locations and coastal radar sites in retaliation for violating the ceasefire. Early Sunday, Iran began drone and missile strikes on Bahrain and Kuwait, which said they had intercepted them, according to reports. Meanwhile, there were reports of fighting in Lebanon.
The June futures contract of Gift Nifty indicated a largely flat opening for the domestic market. At 0809 IST, the futures contract was at 24089.50, 33 points above Nifty 50's previous close. Thursday, the Nifty 50 index settled with a second consecutive Doji candlestick on the weekly chart, showing indecisiveness among traders or the continuation of the ongoing sideways move in the 23800–24260 spot zone, Vipin Kumar, technical and derivatives analyst at Globe Capital Market, said. Moving ahead, a break on either side of the 23800–24260 points range will open the floor for a 300–400 point move in that direction, he added. (Arya S. Biju)
Equity Alert: Asian indices mixed as investors assess US-Iran tensions
MUMBAI--0816 IST--Indices in Asia were mixed in early trade as investors in the region continued to assess developments in West Asia. On Sunday, the US and Iran agreed to halt recent hostilities that weighed down optimism towards the interim peace deal. South Korea's Kospi shed nearly 2% and was the worst performer among Asian indices, while Hong Kong's Hang Seng was the top gainer in the region.
Following the exchange of strikes between the US and Iran over the last few days, oil prices, which had hit pre-war levels last week, saw an uptick. At 0815 IST, August futures of Brent Crude oil were around $72 per barrel, up 0.3%. "Both sides (the US and Iran) will stand down for now and vessels can move freely," a senior Trump official said on Sunday. Subsequently, futures tied to major US indices were up 0.2-0.5?rly on Monday. Saturday, US President Donald Trump said Iran had violated the ceasefire agreement and that US aircraft struck Iranian missile and drone storage locations.
"It feels like we are lacking a bit of direction," Nick Twidale, chief market strategist at ATFX Global in Sydney, told Reuters. "We may get a shot in the arm later today from more positive news out of the Middle East...but at the moment I think it's going to be a bit of a flow-driven day without major moves to either side."
Monday, the Kospi was down over 2% in early trade as index heavyweights SK Hynix and Samsung Electronics shed 4% and 5%, respectively. This comes after Korea Economic Daily reported that the two semiconductor giants were expected to unveil investment plans worth over $1 trillion for the next 10 years on Monday. The event marking the announcement will be chaired by President Lee Jae Myung, the presidential office said Sunday.
The news comes amid investor concern that valuations of AI-related companies have become stretched following years of gains and have weighed on markets. Technology stocks all over the world saw sustained selling in the last week.
Japan's Nikkei 225 was down 0.7% in early trade. On the other hand, Hong Kong's Hang Seng was up 1.5?ch and outperformed peers in the region.
Following are the levels of key indices in the region at 0812 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4883.24 | 0.3 |
| Hang Seng Index | 23005.15 | 1.5 |
| Nikkei 225 Day | 68869.43 | (-)0.7 |
| TOPIX FIRST SECTION | 3959.52 | (-)0.1 |
| KOSPI | 8260.08 | (-)1.8 |
| FTSE Singapore Strait Times | 5186.96 | (-)0.1 |
| S&P/ASX 200 Index | 8777.5 | 0.2 |
(Shruti Nair)
Equity Alert: US indices end lower on Fri amid sell-off in technology stocks
MUMBAI--0728 IST--All three major US stock indices ended in negative territory on Friday as investors continued to sell technology stocks. The technology-heavy Nasdaq closed 0.2% lower and fared worse than its peers. The index ended lower for the fifth straight session. During this period, it shed nearly 5%.
Stocks of chip-making companies led the losses on Friday, with shares of Micron Technology ending nearly 7% lower, while Advanced Micro Devices lost 2%. Shares of Intel closed over 3% lower. This was after a report by The New York Times claimed that OpenAI planned to delay its initial public offering to next year due to the poor performance of Elon Musk's SpaceX following its debut as well as the broader volatility in artificial intelligence-related stocks.
The report raised concerns about the "sustainability of their infrastructure spending given the delay in funding from the capital markets," CNBC reported, citing a note by JPMorgan traders.
"I still over the next 12 months would bet on chip stocks and AI infrastructure stocks outperforming because the demand is just so insatiable," Ross Mayfield, investment strategist at Baird, told CNBC. While there is "a little bit of catch-up to be played by some of the laggards," Mayfield continued, "I don't necessarily think that this is a full-on rotation where AI infrastructure names are going to be laggards for the next 12 months or anything like that."
While technology stocks lagged on Friday, shares of healthcare companies saw gains. Eli Lilly closed over 7% higher, while Johnson & Johnson gained almost 4%. Pharmaceutical player AbbVie advanced more than 4%.
Futures of major US indices were marginally higher early on Monday after the US and Iran agreed to stand down following the exchange of strikes over the past few days. Futures tied to the three main US indices were up 0.2-0.6?rly on Monday.
Following were the closing levels of major US indices on Friday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
51876.11 | (-)0.1 |
|
NASDAQ Composite |
25297.62 | (-)0.2 |
|
S&P 500 |
7354.02 | (-)0.1 |
(Shruti Nair)
US$1 = INR 94.54
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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