Sectors

Stock Market Highlights: Broader markets, bucking the trend, ended lower. Nifty Small Cap 100 index closed 0.01% lower, while Nifty Mid Cap 100 index settled 0.11% lower.

A week of competing forces shaped markets, as AI trade jitters, RBI intervention and signals on capital gains tax and STT intersected with geopolitical risks, shifting oil prices and a resilient set of corporate earnings.

India's benchmark valuations remain below some of the elevated levels seen in previous periods. The Nifty 50 is currently trading at a price-to-earnings (PE) multiple of 19.6 times, while the Sensex trades at 19.7 times.

Citi has maintained its 'Sell' rating on Yes Bank but lowered its target price to Rs 17.50 from Rs 22, describing the Supreme Court ruling as a reversal of the AT1 bond write-down that reopens the bank's capital-related concerns.

The Supreme Court on Thursday upheld the Bombay High Court's January 2023 judgment quashing the write-down and dismissed appeals filed by Yes Bank, the Reserve Bank of India (RBI) and the Centre.

Asian markets traded lower on Wednesday, with Japan's Nikkei 225 declining 0.05%, Australia's S&P/ASX 200 falling 0.64%, South Korea's Kospi slipping 0.44% and Japan's Topix losing 0.34%.

Speaking during a fireside chat at the 2026 Bloomberg New Economy Forum, Vaishnaw said trust would be a key factor in the semiconductor value chain and stressed the importance of developing a strong manufacturing ecosystem.

Aegis Logistics' arm is set to acquire an 89.8% stake in Tristar Holdings for a consideration of $809 million (around Rs 7,710 crore). The stake will be acquired from Agility Tristar Holdings and other shareholders.

M&M shares have declined around 10% over the past three months and 20% over the past year, despite earnings upgrades, as investors weighed several near-term concerns.

Bandhan Bank said it was unaware of any reported stake sale involving promoter entity Bandhan Financial Services and had received no communication on the matter, following a report that Abu Dhabi-based investors were exploring a strategic investment.

Murarka said IT companies are prioritising investments and growth, while AI revenues and margins are consistently accelerating.

The Nifty FMCG Index trades at 31.1 times earnings, below its post-2021 average of 41.5, but weak consumption, rising input costs and earnings downgrades continue to cloud the sector's outlook.