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Informist, Friday, Aug. 28, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Mkts up at open despite higher oil prices; tech cos gain most

 

MUMBAI--0941 IST--Benchmark indices opened higher Friday with information technology companies being the top gainers in the indices. On the other hand, financial services stocks were the major laggards at the start of the day. Indices opened in green despite a rise in crude oil after US President Donald Trump said he was not willing to have a ceasefire deal with Iran. At 0939 IST, the Nifty 50 was at 24137, up 46.15 points or 0.2%, and the BSE Sensex was at 77197.68, up 264.09 points or 0.3%   

 

Tech Mahindra, Tata Consultancy Services, Infosys, HCL Technologies, and Wipro rose 2-3% to be the top gainers in the Nifty 50. Power Grid Corp. of India, Bharti Airtel, Bajaj Auto, Larsen & Toubro, Hindalco Industries, and Tata Steel gained around 1?ch. On other hand, financial services companies Bajaj Finance, Bajaj Finserv, Shriram Finance, and SBI Life Insurance Co. fell around 1?ch. Zomato-owner Eternal and UltraTech Cement fell around 1?ch.

 

Among the sectoral indices, Nifty IT rose nearly 3% and was the best performer. All the constituents in the index traded higher. In contrast, Nifty Private Bank, Nifty Financial Services, and Nifty Bank fell 0.2?ch to be the underperformers among sectoral indices. All the broader market indices opened higher. Smallcap indices were 0.2-0.4% higher and midcap indices were 0.2% up each. 

 

In the Nifty 200 space, IT players KPIT Technologies, LTM, Coforge, and Tata Consultancy Services were the top gainers, up around 4?ch. Meanwhile, Adani Energy Solutions, Billionbrains Garage Ventures, Premier Energies, and CG Power and Industrial Solutions fell around 2?ch. In the Nifty 500, Tejas Networks rose over 10?ter the company received a supply order worth INR 15.37 billion from Tata Consultancy Services.  (Adhithya Aji)

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Equity Alert: Macquarie retains 'outperform' on HDFC Bk amid CEO uncertainty

 

MUMBAI--0930 IST--Global brokerage Macquarie Group has retained its 'outperform' call on HDFC Bank with a target price of INR 1,150, according to a social media post by NDTV Profit News. This comes after the Nifty 50 heavyweight stock fell 2% Thursday and hit its lowest level in over a year at INR 710 following reports that a lawsuit was filed against the bank and its executives in the US on the grounds of violating US securities laws through misleading disclosures and lapses in governance. Macquarie's target price is 62% higher than the stock's closing price on Thursday. At 0925 IST, the bank's shares were up 0.5% at INR 714.55.

 

The brokerage underscored that uncertainty remains regarding the appointment of the lender's chief executive officer, with the incumbent Sashidhar Jagdishan's tenure slated to end in late October. The brokerage expects the bank to either extend Jagdishan's term by six months or by a full three-year tenure. In the former scenario, the brokerage believes the messaging would be that the bank is looking for new candidates for the CEO post, and wants time from the Reserve Bank of India to recommend a new list. This could lead to a further fall in HDFC Bank's share price, the brokerage said.

 

The latter scenario would end the uncertainty around the CEO's tenure and could result in the bank's stock finding bottom support at current levels, Macquarie said. Currently, both the options are equally probable, according to the brokerage, which expects future performance to be driven by an improvement in fundamentals. (Shruti Nair) 

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Equity Alert: Indices to start subdued as crude rises after Trump remarks

 

MUMBAI--0850 IST--Equity indices are expected to kick off the day on a subdued note amid a rise in crude oil prices after US President Donald Trump said he is not willing to agree to a ceasefire deal with Iran. This suggests the war in West Asia is likely to continue, raising concerns about energy supplies. For India, a net importer of crude, higher energy prices will remain a major overhang for the markets. Most Asian indices opened higher Friday and Wall Street indices ended higher. 

 

"Going forward, a decisive close below 24,000 spot levels could drag it toward 23,800, followed by 23,600," Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market, said. Sustained trading above 24200 could lead it back toward the upper band of the range at 24380–24400, he added. 

 

Crude oil prices rose after a Wall Street Journal report said Trump told mediators he was not interested in a ceasefire deal on terms similar to those agreed in June. In June, the US and Iran signed a memorandum of understanding for a 60-day ceasefire deal, which ended in July. At 0730 IST, October Brent crude futures were at $89.18 per barrel. It had risen over 2% to a high of $89.70. Market experts believe the current crude oil level offers no relief. Equity markets are expected to see a positive trigger when crude oil prices ease to around $75–$80 per barrel, according to an analyst.

 

India's GDP growth for the June quarter is expected to be 7.5%, "underscoring resilient growth momentum despite multiple economic risks," ANZ Research said. This figure is slower than the previous quarter but stronger than the growth recorded in the previous quarter. "Aggregate private consumption growth appears to be rebounding, but the performance is uneven," ANZ Research said. This growth resilience should give the Reserve Bank of India room to normalise monetary policy, the research firm added.  (Adhithya Aji) 

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Equity Alert: Major Asian indices rise amid rally in select tech stocks

 

MUMBAI--0820 IST--Major Asian indices rose during early trade Friday on the back of a rally in technology stocks post Nvidia's July quarter earnings. Crude oil prices were lower around $89 per barrel and were set for a decline of around 5% on a weekly basis. Hopes of the Strait of Hormuz reopening were limited as the US administration said they have no intention of returning to the terms of the memorandum of understanding reached with Iran in June, according to a Wall Street Journal report.    

 

Japan's Nikkei 225 was up nearly 1% and was among the top gainers in the region. Index heavyweights Tokyo Electron and Advantest Corp. were up around 2?ch. The South Korean Kospi was the worst performer in the region, pulled down by its heavyweight constituents SK Hynix and Samsung Electronics, which shed more than 1% and 2%, respectively. On a weekly basis, indices will be mixed with Japan's broader-market Topix being the top gainer, adding more than 2%.  

 

Global investors await US Federal Reserve Chair Kevin Warsh's speech at the regulator's annual symposium in Jackson Hole, Wyoming. They will watch for signals about where interest rates could go, according to a CNBC report. "Investors have very little history with how he talks. New chairs use this stage to set the frame for their tenure, and whatever language he establishes Friday gets applied to every data print for the next year," Natalia Lojevsky, managing director at CIFC Asset Management, told CNBC. 

 

Following are the levels of key indices in the region at 0750:

 

Index	Level	Change in %
Nikkei 225 Day	66691.07	0.9
TOPIX FIRST SECTION	4149.09	0.8
S&P/ASX 200 Index	9063.60	0.3
KOSPI Index	6839.31	(-)1.1
Hang Seng Index	25587.19	0.1
CSI 300 Index	4634.67	0.1
FTSE Singapore Strait Times	5695.01	0.2

 

(Vidhi Thacker)

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Equity Alert: US markets gain after Nvidia's earnings; tech stocks rise 

 

MUMBAI--0715 IST--Major US indices ended higher Thursday after chipmaker Nvidia's better-than-expected July-quarter earnings lifted technology stocks. The tech-heavy Nasdaq Composite was the top gainer, adding nearly 2%. Crude oil prices rose around $2 per barrel after the US administration told mediators that it does not intend to return to the terms of the memorandum of understanding reached with Iran in June, according to a Wall Street Journal report.     

 

Nvidia's shares ended nearly 9% higher after the company reported its earnings, reinforcing the view that technology stocks can continue to grow as companies focused on artificial intelligence continue to report strong growth, according to a Reuters report. "Nvidia's results show that the AI boom is not running out of demand... while delivering that growth is becoming more expensive and capital-intensive," Lale Akoner, global market strategist at eToro, told Reuters. Nvidia has warned that a shortage of memory components could slow the industry's growth, the Reuters report added. 

 

Semiconductor industry stocks closed higher, with Broadcom and Intel Corp. gaining over 4?ch. The VanEck Semiconductor ETF was up over 3%. The S&P 500 Information Technology index ended more than 3% higher, the top gainer among the 11 sectoral components of the S&P 500, most of which ended in the red. Meanwhile, the Dow Jones Industrial Average and S&P 500 ended in the green, gaining 0.2% and 0.7% respectively. 

 

Chipmaker Salesforce ended nearly 23% higher after its quarterly earnings beat expectations for the second quarter. Software stocks were also up in the region, with Adobe and Autodesk gaining around 6?ch. 

 

The following are the ending levels of key indices in the region:   

 

Index	Level	Change in %
Dow Jones Industrial Average	53569.44	0.2
NASDAQ Composite	26541.35	1.6
S&P 500	7730.99	0.7

 

(Vidhi Thacker)

 

US$1 = INR 95.55

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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