Equity Alert
European indices off highs as crude oil back to $97 per barrel
This story was originally published at 16:09 IST on 3 September 2026
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Equity Alert: European indices off highs as crude oil back to $97/bbl
MUMBAI--1550 IST--Major European indices either fell or came off highs after Brent crude oil futures jumped back to $97 per barrel. Some indices held on to marginal gains after global bond yields fell, while signals from New York Federal Reserve President John Williams about no urgent need to raise interest rates helped sentiments. Eurozone government bond yields were down during early trade after reaching multi-year highs Wednesday.
The November futures contract of Brent crude oil was up around $97 per barrel. "Shipping markets now price a 'no-Mideast-deal' status quo for longer. However, increasing market adaptability to the conflict, including a rise in dark transits and the price sensitivity of China crude imports, will likely continue to moderate the upside to crude prices, even in the case of prolonged disruptions in the Middle East," according to a Goldman Sachs note cited in a Dow Jones Newswire report.
Shares of mining and basic resources were up in the region, with the Stoxx Europe 600 Basic Resources up more than 0.5%. The Stoxx Europe 600 Personal & Household Goods index was down more than 1% to be among the worst hit sectors in the region.
Germany's DAX Performance index fell 0.2% to reverse a gain of around 0.3?rlier. Among stocks, Deutsche Telekom rose more than 2% on a report that Elliot Investment Management took a stake in the company, another Dow Jones report said. France's benchmark CAC 40 index was down 0.4% as luxury stocks including LVMH, owner of Louis Vuitton, shed over 2%. The Stoxx Europe Luxury 10 was down 2%.
Following are the key levels of indices in the region at 1555 IST:
|
Index |
Level |
Change in % |
|
FTSE 100 Index |
10753.78 | (-)0.02 |
|
CAC 40 |
8247.52 | (-)0.40 |
|
MIB INDEX |
51800.22 | 0.02 |
|
DAX PERFORMANCE-INDEX |
25788.07 | (-)0.20 |
|
SLI PR |
2299.07 | 0.04 |
(Vidhi Thacker)
Equity Alert: Benchmark indices stay flat; IT cos fall offset gains in banks
MUMBAI--1500 IST--Indian benchmark indices remained flat as selling in information technology stocks, along with in Reliance Industries and Titan Co., offset gains in major banks. The Nifty 50 hovered around 23900 points and the BSE Sensex was below 76600.
Only 18 stocks in the Nifty 50 advanced, exposing an underlying weakness across the board as major index heavyweights actively capped the index's upside potential. Shares of heavyweight Reliance Industries fell 0.6% and weighed on the Nifty 50, while Titan Co. compounded the pressure as it slid 1.5%. However, bank stocks supported benchmark indices and prevented a sharper decline, as both HDFC Bank and ICICI Bank rose 0.9%. Axis Bank was up 2% and State Bank of India was up 0.4%.
In the sectoral indices, eight were up with the Nifty Realty rising the most by 2%. Buying lifted all stocks within the real estate index, with Brigade Enterprises up 7.7% and Anant Raj nearly 7%. Broader market indices outperformed the frontline ones, as mid-cap indices gained over 1% and small-cap indices rose marginally. (Diksha Singh)
Equity Alert: SML Mahindra rises over 8% to intraday high of INR 5,760
MUMBAI--1440 IST--Shares of SML Mahindra rose over 8% to reach an intraday high of INR 5,760. Around 202,000 shares of the company were traded on the NSE so far, which is 32% higher than the three-month daily average volume of 153,000. At 1426 IST, shares of the company were at INR 5,710.50 apiece, up over 7% from Wednesday.
The company's commercial vehicle segment's market share is expected to rise to 10-12% by the financial year 2030-31 (Apr-Mar) from the current 7.2%, according to Vinod Sahay, president and executive chairman of the trucks and buses segment of SML Mahindra, as quoted in a report by the Press Trust of India. He expects the market share to cross 20% by FY36.
The company also has a target for electrification of at least 10% of its total bus portfolio over the next few years, he said. The commercial vehicle segment is likely to grow in the "high single digit" in FY27 on the back of a number of factors, primarily replacement demand, he said.
Tuesday, SML Mahindra posted a 40% year-on-year jump in total vehicle sales in August to 1,175 units. Its shares have risen 12% since the company announced its monthly sales numbers. (Ayush Jaiswal)
Equity Alert: Most Asian indices end up as crude oil prices, bond yields ease
MUMBAI--1430 IST--Major Asian indices ended mixed Thursday as crude oil prices were down after gaining for three consecutive days and regional bond yields fell after touching multi-year highs. Concerns around an interest rate hike were down after New York Federal Reserve President John Williams' comments in an interview to CNBC about not seeing enough reason for a hike.
Benchmark indices in Japan and Hong Kong faced profit taking at higher levels and ultimately ended slightly lower. At 1419 IST, the November futures contract of Brent crude oil was down 0.3% at $95.33 per barrel.
US interest rates are "in a good place", Kristina Clifton, a senior economist and currency strategist at Commonwealth Bank of Australia, said in a research report, as cited by a Dow Jones Newswire report. He signalled a wait-and-see approach ahead of the US Federal Reserve's monetary policy committee meeting later this month.
The Bank of Japan remains in focus amid a steep rise in bond yields this week. "Hawkish board member Hajime Takata left the door open for an outsized rate increase and back-to-back hikes," the Global Economics & Markets Research team of United Overseas Bank said, as quoted by Dow Jones. Takata also said a 25-basis-point rate increase "is not necessarily set in stone".
Thursday, Hong Kong's Hang Seng was the worst hit in the region, ending 0.4% lower, while mainland China's CSI 300 ended marginally higher. Hang Seng heavyweight Alibaba Group Holding and Tencent fell over 2% and 1?ch. South Korea's Kospi ended 0.3% higher. Japan's Topix gained 0.5%, while the Nikkei 225 closed marginally lower.
Following are the levels of key indices in the region at 1345 IST:
|
Index |
Level |
Change in % |
|
Nikkei 225 |
64214.48 | (-)0.2 |
|
TOPIX FIRST SECTION |
4102.04 | 0.5 |
|
S&P/ASX 200 Index |
9020.10 | 0.5 |
|
KOSPI Index |
6579.48 | 0.3 |
|
Hang Seng Index |
25213.31 | (-)0.4 |
|
CSI 300 Index |
4552.59 | 0.1 |
|
FTSE Singapore Strait Times |
5737.32 | (-)0.1 |
(Vidhi Thacker)
Equity Alert: Jindal Worldwide jumps to 1-year high after MD reappointment
MUMBAI--1332 IST--Shares of Jindal Worldwide hit 20% upper circuit to INR 48.22, the highest level in more than a year. Stocks rose amid a spike in volumes after the company reappointed Managing Director Amit Yamunadutt Agarwal for three years. Over 90 million shares were traded on the NSE, more than 6 times the three-month daily average volume of over 14 million.
On Monday, the company's electric vehicle subsidiary Jindal Mobilitric plans to expand its retail network to 100 showrooms by the financial year 2027-28 (Apr-Mar) in a phased manner, according to a report by Bussiness Standard. Currently, Jindal Mobilitric has two showrooms. (Ayush Jaiswal)
Equity Alert: Indices turn flat after rising earlier as BFSI, auto cos drag
MUMBAI--1315 IST--Benchmark indices turned flat, reversing gains as select financial services and automobile stocks fell after gaining during early trade. At 1310 IST, the Nifty 50 was at 23923.50, down 9.50 points and the BSE Sensex was at 76657.95, down 89 points.
Shares of Titan Co. were down 2%, being the worst hit in the Nifty 50, while Adani Ports and Special Economic Zones was the top gainer in the index, up nearly 2%. Shares of Shriram Finance, Bajaj Finance, and Bajaj Finserv were down nearly 1?ch. Shares of SBI Life Insurance Co., Kotak Mahindra Bank, and HDFC Life Insurance Co. reversed earlier gains and were down marginally.
Information technology stocks continued to trade lower, putting pressure on the 50-stock index, with Tech Mahindra down over 1%. Shares of HCL Technologies, Infosys, and Tata Consultancy Services fell further to around 1?ch. Shares of select automobile companies fell, with Eicher Motors and Bajaj Auto down around 1?ch, while shares of Mahindra and Mahindra declined 0.5%.
In the Nifty 200 index, Solar Industries India was the top gainer, up over 4%, while Godrej Consumer Products was down 4%. Shares of Anant Raj were up over 7% to be the top performer in the Nifty 500. Broader market indices fared better than the benchmarks, with small-cap indices up over 1% and mid-cap indices up marginally. (Vidhi Thacker)
Equity Alert: Lumino Industries soars 45% over issue price after strong debut
MUMBAI--1240 IST--Shares of Lumino Industries listed at over 34% premium to the issue price on the NSE. Post listing, it surged over 45% to an intraday high of INR 117.70 apiece. The stock made its debut at INR 110 over the issue price of INR 82.
At 1234 IST, shares traded at INR 115.96, up 41% from the issue price. Over 142 million shares have changed hands so far.
The company's initial public offering was subscribed 50.5 times as of the final day of bidding Monday, with bids placed for over 3 billion shares against over 63 million on offer. The company manufactures power cables, electrical wires, and other specialised products and components for power distribution and transmission lines, such as high-temperature low-sag conductors. For the financial year 2025-26 (Apr-Mar), the company reported consolidated net profit of INR 1.60 billion on revenues of INR 20.41 billion. (Deesha Jadhav)
Equity Alert: Nifty 50 faces selling above 24000 points; Titan down
MUMBAI--1200 IST--Benchmark indices came off highs on selling in metal stocks and Titan Co. However, indices maintained some gains as banks stayed in the green amid strong inflows of foreign currency non-resident (banks) deposits.
At 1139 IST, the Nifty 50 was at 23965 points and kept facing selling pressure above 24000 points. The index was up 0.2% compared with the intraday high of 0.5%. Sensex faced similar selling from the intraday high, and it was at 76769.17 points, up nearly 200 points or 0.3%.
Information technology stocks such as Tech Mahindra, HCL Technologies, Infosys, and Tata Consultancy Services stayed lower, down 0.2-1.4%. Titan Co fell 1.4% and dragged the Nifty 50 index down. Among others, metal stocks such as JSW Steel, Tata Steel, and Hindalco Industries were slightly down compared with slight gains earlier.
Adani Ports and Special Economic Zone rose over 2% and was the top gainer. Shares of heavyweight ICICI Bank traded nearly 2% higher, which helped the index stay higher. Its peers HDFC Bank, State Bank of India, and Axis Bank were also over 1% higher.
Asian Paints and Interglobe Aviation came off lows amid a slight fall in the Brent crude oil futures intraday. InterGlobe came off intraday lows of 2% and was down 1%. At 1153 IST, crude oil futures were down over 1% at $94.4 per barrel.
In the Nifty 200 index, SBI Cards and Payment Services rose nearly 5% and was the top gainer. Godrej Consumer Products was the major laggard in both the Nifty 200 and Nifty 500 indices and was down nearly 4%. The stock was down amid caution among analysts about the company's execution and investments. (Utthara E. S.)
Equity Alert: Godrej Consumer dn 5% to 4-yr low; analysts cautious of view
MUMBAI--1105 IST--Shares of Godrej Consumer Products fell 5% to INR 859.55, the lowest level in nearly four years. While the new Chief Executive Officer Aasif Malbari retained the company's guidance for the financial year 2026-27 (Apr-Mar) on Wednesday, analysts expressed caution over the company's execution and investments.
The new CEO outlined his objectives in the company's latest investor call on Wednesday. However, the market reaction showed investors were still concerned about future plans. Brokerage Nomura said in a report that Godrej Consumer is still in the investment phase and its management has called for inventory correction, which will impact revenue growth by 1.5-2% in the coming quarters. The company's profitability will also be impacted due to planned investments of INR 2 billion over the next 12 months, Motilal Oswal Financial Services said in a report.
The company retained its guidance for FY27 with standalone volumes likely to rise in high single digit, consolidated revenue growth seen in double digits, and growth in consolidated earnings before interest, tax, depreciation, and amortisation seen in double digits. However, achievements of these milestones will be critical for the stock, Motilal Oswal said.
Despite caution over execution, brokerages have retained their "buy" recommendation for the stock due to attractive valuations. Nomura, Motilal Oswal, and HDFC Securities retained their target prices of INR 1,100-INR 1,150. This implies a 26–32% upside from the current trading price.
At 1102 IST, shares of the company were trading down 3.6% at INR 872.55 on the National Stock Exchange. More than 3 million shares have traded so far Thursday, which is more than twice the three-month daily average volume of 1.4 million shares. The stock has fallen nearly 15% since the previous CEO's exit on Aug. 11. (Ayush Jaiswal)
Equity Alert: Indices open higher as banks soar on higher FCNR(B) deposits
MUMBAI--0939 IST--Benchmark indices opened higher Thursday on gains in banking stocks, which led the rise after the Reserve Bank of India reported better-than-expected foreign fund inflows through the special foreign exchange swap window and strong mobilisation of foreign currency non-resident (banks) deposits. A pause in global bond sell-off also aided sentiment. The rupee opened higher as well.
At 0939 IST, the Nifty 50 was at 24001.45, up 87 points or 0.4%, and the BSE Sensex was at 76840.86, up 270.51 points or 0.4%. The domestic currency opened at 94.3000 on Thursday, sharply up from 94.9700 at Wednesday's close.
The Reserve Bank of India said the special foreign exchange swap window attracted total foreign exchange inflows of $136.38 billion as of Monday. The FCNR(B) deposits garnered $127.23 billion. Inflows into the schemes were sharply higher than expectations. "The implication of this from the market perspective is that the rupee will stabilise, imparting confidence to FIIs (foreign institutional investors)," V K Vijayakumar, chief investment strategist at Geojit Investments, said in a note.
Banking stocks provided much-needed support to the Nifty 50 index, which had opened lower for three consecutive sessions. Heavyweights ICICI Bank and HDFC Bank gained nearly 2% and 1%, respectively. Axis Bank and State Bank of India gained around 1?ch. Nifty PSU Bank and Nifty Private Bank rose around 1?ch. "... the huge FCNR(B) mobilisation by banks will help improve their NIMs (net interest margins). This is positive for banking stocks," Vijayakumar said.
Adani Ports and Special Economic Zone was the top gainer among the Nifty 50 constituents, up over 2%. Coal India rose nearly 2%. Metal players Tata Steel and JSW Steel were up around 1?ch. Power Grid Corp. of India, HDFC Life Insurance Co., Adani Enterprises, and NTPC rose around 1?ch. On the other hand, information technology companies were the major laggards – Tech Mahindra, HCL Technologies, Infosys, and Tata Consultancy Services fell around 1?ch. InterGlobe Aviation fell nearly 1%.
Broader market indices were mixed – Nifty small-cap indices rose 0.7-0.8%, while Nifty mid-cap indices were mixed. Nifty Midcap 50 fell nearly 0.1%, Nifty Midcap 150 rose 0.2%, and the Nifty Midcap 100 was flat.
In the Nifty 200, Solar Industries India and SBI Cards and Payment Services rose around 4?ch. Godrej Consumer Products was the worst-hit stock in both the Nifty 200 and Nifty 500 indices, down nearly 4?ch. In the Nifty 500, Anant Raj was the top gainer, up nearly 7%. (Adhithya Aji)
Equity Alert: Asian markets rise after some regional bond yields decline
MUMBAI--0830 IST--Major Asian indices rose as global treasury yields remained largely unchanged with some even falling marginally, while crude oil prices were largely rangebound. The November futures contract of Brent crude oil was moving in a range of $95-$96 per barrel on Thursday.
Japan's 10-year government bond yield was down Thursday by around 4 basis points to 2.970?ter touching a three-decade high of 3.015% Wednesday. Australia's 2-year and 10-year bond yields were down 5 bps and 4 bps, respectively, according to a Dow Jones Newswire report. Sentiment in the bond market improved after comments by the New York Federal Reserve President John Williams in an interview with CNBC, where he indicated that he saw no clear reason for the regulatory body to raise rates.
Japan's Topix index was up 1%, while the Nikkei 225 was up only marginally. Shares of heavyweight SoftBank Corp. were up nearly 3% and Toyota Motor Corp. shares rose over 1%. Mitsubishi Corp. and Nomura Holdings were up nearly 5% and 3%, respectively. China's CSI 300, Hong Kong's Hang Seng and South Korea's Kospi were nearly 1% higher.
Following are the key levels of indices in the region at 0755 IST:
|
Index |
Level |
Change in % |
|
Nikkei 225 Day |
64429.71 | 0.2 |
|
TOPIX FIRST SECTION |
4121.82 | 1.0 |
|
S&P/ASX 200 Index |
9003.2 | 0.3 |
|
KOSPI Index |
6622.25 | 0.9 |
|
Hang Seng Index |
25462.42 | 0.6 |
|
CSI 300 Index |
4574.89 | 0.6 |
|
FTSE Singapore Strait Times |
5775.75 | 0.6 |
(Vidhi Thacker)
Equity Alert: Nuvama ups Tata Power to 'buy', raises target price to INR 421
MUMBAI--0825 IST--Nuvama Institutional Equities upgraded Tata Power to 'buy' from 'hold' and raised the bull case target price for the stock by 5% to INR 421. The brokerage's revised target price implies nearly 16% upside from Wednesday's closing of INR 364.
The brokerage raised the target price after factoring in its unpriced pumped storage and transmission projects, which are expected to drive growth through 2029-30 (Apr-Mar). Further, the company's growth will also be aided by its new ventures of manufacturing solar ingots and wafers, which should also help increase margins. The commissioning of the company's 2.8 gigawatts of pumped storage projects will add nearly INR 6 billion to its annual cash flow and lead to a further rating revision after FY29, the brokerage said in a report.
Shares of Tata Power recently fell after the Singapore International Commercial Court dismissed its appeal against an earlier order requiring Tata Power to pay $490 million in damages to Kleros Capital Partners. Nuvama said the overhang from this arbitration is largely priced into the stock. (Ayush Jaiswal)
Equity Alert: Indices seen sideways as crude weighs on sentiment
MUMBAI--0820 IST--Indices are expected to move sideways Thursday as elevated crude oil prices continue to weigh on the market. The West Asia war continued to weigh on investor sentiment. Meanwhile, Asian markets opened higher on a pause in the global bond selloff, while US indices ended lower.
The global bond selloff eased after Federal Reserve Bank of New York President John Williams, in an interview with CNBC, said evidence shows no need right now for a change in interest rate policy amid the West Asia war. Japan's 10-year government bonds fell 4 basis points to 2.970% on Thursday. This follows government debt touching a three-decade high of 3.015% Wednesday. All Asian indices were higher in early trading, with South Korea's Kospi leading the region, up over 1%.
However, the situation in West Asia is likely to keep investor sentiment cautious. The US Navy continues to strictly enforce the blockade against Iran, US Central Command said in a social media post. US President Donald Trump said the US is ready to strike Iran "at any time", but he does not expect the recent escalation to last long, Al Jazeera reported. Trump added that Washington has "almost total control" of the Strait of Hormuz, the report said.
"Technically, the Nifty index has multiple supports in the 23800–23600 spot zone, and the possibility of a bounce-back rally up to 24000 spot cannot be ruled out at this juncture," Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market, said. The close above 24000 would trigger a positive development that could take it higher towards 24200 levels in the near term, Kumar added.
On the stocks front, Nuvama Institutional Equities upgraded Tata Power Co. to 'buy' from 'hold'. The brokerage has a bear target price of INR 363 and a bull case price view of INR 421. The stock corrected around 8?ter an adverse ruling by the Singapore International Commercial Court on a challenge to arbitration proceedings initiated by Kleros Capital Partners Ltd. against the company. The brokerage expects meaningful upside from unpriced pumped hydro storage projects and a tariff-based competitive bidding pipeline, and sees cash flow contribution from around 2028-29 (Apr-Mar) to FY30. (Adhithya Aji)
Equity Alert: US indices up as bond yields unch post multi-year high earlier
MUMBAI--0735 IST--Major US indices ended higher Wednesday as US bond yields largely remained unchanged after rising to new highs in past few sessions. Oil prices rose slightly due to the clashes between the US and Iran with the November Futures contract of Brent Crude Oil Wednesday ending around 1% higher at $95.63 per barrel. Thursday, Brent crude oil futures gained only marginally.
Yields on the US 2-year Treasury bond and the 10-year Treasury note fell marginally after reaching yearly highs in the session, according to a Dow Jones Newswire report. The 30-year bond yield remained unchanged after five-sessions of gains.
The S&P 500 ended 0.6% higher, while the Nasdaq Composite and the Dow Jones Industrial Average closed higher by 0.5?ch. "The key driver is oil," Jay Hatfield, CEO of Infrastructure Capital Advisors, told CNBC. "That's why the market is able to get a little rally today, because oil's topping out," he added.
Shares of Nvidia Corp. ended over 3% higher, supporting the Dow Jones index. Shares of other heavyweights such as American Express and Walt Disney also closed nearly 2% higher. Among sectors, shares of airlines, gold and silver mining, and regional banks ended higher and were the outperformers, a Reuters report said.
Shares of Dell Technologies gained nearly 16?ter increasing its annual profit and revenue predictions. Brown-Forman shares also ended nearly 4% higher after its quarterly earnings beat expectations, the Reuters report said.
Following are the closing levels of key indices in the region:
|
Index |
Level |
Change in % |
|
Dow Jones Industrial Average |
53061.95 | 0.6 |
|
NASDAQ Composite |
26217.83 | 0.5 |
|
S&P 500 |
7666.60 | 0.5 |
(Vidhi Thacker)
US$1 = INR 94.48
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Shubhayan Bhattacharya
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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