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Informist, Thursday, Aug. 6, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices to move in range; investors eye closing auction clarity

 

MUMBAI--0840 IST--Headline equity indices are likely to move in a range Thursday as suggested by the movement of the GIFT Nifty. The finalisation of a deal between Iran and Oman on the Strait of Hormuz and crude oil prices hovering at $80 a barrel are expected to support the market sentiment. Market participants will keep a tab on the new closing auction mechanism for the equity cash segment after another day of sharp divergence between the closing levels of the Nifty 50 and the BSE Sensex. Shares of Trent will be in focus as the company will detail its June quarter results Thursday.

 

At 0839 IST, the August futures contract of GIFT Nifty was marginally higher from its previous close at 24719.50. The futures contract was nearly 95 points higher than the Nifty 50's previous close of 24624.65, indicating a rangebound movement for the index Thursday.

 

The Nifty 50 settled at 24570.20 points after the continuous trading session Wednesday at 1515 IST, down 0.2% from Tuesday. The BSE Sensex ended at 78501.85 points, up 0.1%. After the closing auction, the Nifty 50 ended at 24624.65, up 9.75 points from Tuesday and over 54 points higher than the 1515 IST level. At 1535 IST, the August futures contract of the Nifty 50 was at a premium of 22 points to the index's close. After the implementation of the new closing auction mechanism for the equity cash segment Monday, a sharp divergence between the closing levels of the Nifty 50 and the Sensex remained for the third straight session.

 

Shares of Power Grid Corp. of India will also be in focus as the company released its June quarter results early Thursday. The company reported a nearly 7% on-year fall in its net profit at INR 34.11 billion. Its revenues for the quarter fell over 1% on year to INR 97.95 billion. Both the key metrics missed meeting analysts' expectations for the quarter.

 

Barring the Dow Jones Industrial Average, the US indices settled lower Wednesday. The Nasdaq Composite closed nearly 1% lower, while the S&P 500 settled marginally lower. Asian indices were mixed, with most of them being lower in early trade. Hong Kong's Hang Seng index and Japan's Nikkei 225 ended almost 1% lower each.  (Arundathi A R)

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Equity Alert: Brokerages mixed on Bharti Airtel, Emkay ups target price by 5%

 

MUMBAI--0820 IST--Brokerages are mixed on Bharti Airtel after the company's post-earnings call with analysts. The company will continue investments in its Africa operations, which is expected to punch above its weight over time, a senior company official said. Tuesday, the telecommunications major detailed its June quarte earnings, reporting a 12% on-quarter rise in its net profit to INR 81.67 billion and a 6% rise in its top line to INR 585.39 billion. The company's Africa mobile services segment contributed around 30% of the company's revenues for the quarter ended June.

 

Nuvama Institutional Equities has an optimistic view on the stock. The brokerage expects the company's "industry-leading" average revenue per user and robust free cash-flow to continue to bolster its balance sheet. The brokerage sees Bharti Airtel as the best way to play the Indian telecommunications sector. The brokerage tweaked its estimates for the company's earnings before interest, tax, depreciation, and amortisation estimates for financial year 2026-27 (Apr-Mar) by over 1% and for FY28 by over 3%. The brokerage retained its "buy" recommendation on the stock with an unchanged target price of INR 2,550, incorporate a higher stake in the company's Africa subsidiary.

 

On other hand, Emkay Global Financial Services maintained its "reduce" recommendation on the stock but increased its target price to INR 2,000, up 5.3%. The brokerage expects the company's average revenue per user to have a compounded annual growth rate of 7.5% over FY26 and FY29, below the consensus view of 8.8%. The brokerages sees the company's enterpise multiple at nine times the EBITDA based on FY28 estimates. This implies the multiple for the India business at 12.3 times the estimate, which is at the top end of valuations for global telecommunications companies. Given the expensive valuations, the brokerage believes the risk-reward ratio is unfavorable. (Shruti Nair)

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Equity Alert: Most markets in Asia fall, technology stocks drag down indices

 

MUMBAI--0806 IST--Most indices in Asia moved in the negative territory, dragged down by a decline in technology stocks. South Korea's headline index Kospi lagged its peers in the region and Japan's key Nikkei 225 index and Hong Kong's Hang Seng index were also firmly in the red. Indices in China were mixed, with the CSI 300 index lower and the SSE Composite higher. 

 

A five-minute trading halt was triggered on the Kospi after the index fell more than 5% intraday. Shares of SK Hynix fell over 8% and those of Samsung Electronics Co. by 6%. Shares of Samsung Electro-Mechanics Co. and SK Inc. were down almost 10% while Samsung SDI Co. was 1.5% lower. The broader market Kosdaq was also in the red, but fared slightly better than the benchmark. During early hours, the Kosdaq was about 2% down.   

 

In Japan, the benchmark 225-stock index fell almost 2%. Index heavyweights Advantest Corp and Tokyo Electron were down 4% and 6%, respectively. Among other key stocks in the country, SoftBank Group Corp. fell over 6%, Murata Manufacturing Co. more than 8%, and TDK Corp. amost 5%. The country's broader market index, Topix, was only slighlty lower. 

 

Following are the levels of key indices in the region at 0804 IST:

 

Index	Level	Change in %
Nikkei 225 Day	65185.18	(-)1.68
TOPIX FIRST SECTION	4035.99	(-)0.25
S&P/ASX 200 Index	9279.10	0.56
KOSPI Index	6299.45	(-)4.53
Hang Seng Index	25441.69	(-)1.83
CSI 300 Index	4655.9296	(-)0.05
FTSE Singapore Strait Times	5631.19	0.89

 

(Ruchira Kagita)

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Equity Alert: Wall Street ends mixed; Dow Jones, S&P hit record highs Wed

 

MUMBAI--0742 IST--Wall Street ended mixed even as the Dow Jones Industrial Average and the S&P 500 hit record highs Wednesday. The technology-heavy Nasdaq Composite ended lower. The S&P 500 pared its gains through the session and ended in the red. The Google parent Alphabet led losses in the magnificent seven stocks. Shares of Amazon, Microsoft, and Tesla closed lower though Nvidia outperformed. 

 

Alphabet slumped 4% on an overhaul in its artificial intelligence vertical. Demis Hassabis, the chief executive officer Google DeepMind, stepped down from the position. Koray Kavukcuoglu, its chief technology officer, will now be the senior vice-president of DeepMind. Shares of Nvidia jumped and closed over 3% higher after Elon Musk said SpaceX will exclusively use the Nvidia's artificial-intelligence chips to grow its computing capacity, according to multiple media reports. However, shares of Nvidia's rival, Advanced Micro Devices, fell 7%. "I have tremendous respect for Elon and everything that he has done, and so we look forward to continuing to partner over the longer term," Advanced Micro Devices CEO Lisa Su told CNBC. 

 

Shares of SanDisk Corp. fell as much as over 5?ter its guidance for its financial year ending September disappointed the Street though its earnings per share, overall revenue, and revenue from data centres for the quarter ended June were ahead of analysts' expectations. The company reported an earnings of $39.25 per share, above the estimate of $34.96 by FactSet and its sales from data center services were $2.98 billion, beating the expectation of $2.98 billion. However, its forecast of revenue being between $10.30 billion and $10.80 billion was below the anticipated $10.82 billion, Barrons reported. 

 

Shares of Walt Disney Co. ended almost 4% higher after posting a healthy set of earnings for the June quarter. The broadcaster's revenues increased 7% to $25.2 billion, led by sales at domestic parks and experiences. The total parks and experiences revenues rose 10% on year.  For its financial year ending September, the company expects its adjusted earnings per share to grow around 12%, including the impact of the 53rd week. The Toy Story 5 and strong ESPN viewership gains helped expand its consumer reach this quarter and boosted its earnings. Disney expects its operating income for the quarter ending September to be $4.9 billion. 

 

Following were the closing levels of major US indices Wednesday:

 

Index	Level	Change in %
Dow Jones Industrial Average	54349.12	0.49
NASDAQ Composite	26363.439	(-)0.83
S&P 500	7723.55	(-)0.17

 

(Ruchira Kagita)

 

US$1 = INR 95.11

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.

All times are Indian Standard Time.

 

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