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Stock Market News Today Live Updates: GIFT Nifty Hints At Gap-Down Open; Kospi, Nikkei 225 Slump Up To 3%, Tracking Wall Street Losses

The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 23,037, compared to Wednesday's index close of 23,306.45.

Stock Market News Today Live Updates: GIFT Nifty Hints At Gap-Down Open; Kospi, Nikkei 225 Slump Up To 3%, Tracking Wall Street Losses
5 minutes ago

Hello and welcome to our live coverage of stock markets.

The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 23,037. On Wednesday, Indian equity benchmarks closed higher, extending gains for the second consecutive trading session. The BSE Sensex ended 1.6% or nearly 1,200 points higher at 75,273 and the NSE Nifty 50 rose as much as 1.7% to 23,306.45. The stock market was closed on Thursday for a public holiday.

Meanwhile, Oil prices fell as tensions eased in the conflict that has lasted nearly a month. West Texas Intermediate crude dropped 1.5% to $93.07 a barrel, while Brent crude futures fell 0.7% to $100.57 a barrel. South Korea's Kospi fell 4.16% to 5,233.06, while Japan's Nikkei 225 declined 1.90%. Australia's ASX 200 was down 0.79%. Shanghai fell 0.95% and Hang Seng declined 0.35%.

Stock Market Live: Reliance Industries Rejects Report On Iranian Crude Purchase

  • Reliance Industries said reports about the purchase of Iranian crude oil are baseless, according to an exchange filing.
  • The company said the reports of buying Iranian oil are entirely baseless.

Stock Market Live: Morgan Stanley Says L&T Tech SWC Exit Supports Value

  • Morgan Stanley maintained its Equal-weight rating on L&T Technology Services with a target price of Rs 4420 after the company divested its SWC business.
  • The brokerage said the business did not scale as management had expected at the time of the 2023 acquisition and had weighed on margins and cash flow.

  • Morgan Stanley said the exit fits management’s framework for non-strategic businesses and sees the transaction as slightly positive, adding 1.5-2% to market value.

Stock Market Live: Jefferies Flags Crowded Semaglutide Launches, Sees Edge For Sun, Lupin And Torrent

  • Jefferies said more than 10 semaglutide brands have launched online in India after Novo’s patent expiry last weekend, with over 40 brands expected across injectable and oral forms.
  • The brokerage said injectable prices are in the Rs 1,290-4,500 a month range. Natco and Glenmark are at the lower end, while Dr Reddy’s and Torrent are priced higher. It added that Torrent alone is selling the oral form at smaller discounts.

  • Jefferies said most brands are sold out online due to supply mismatch and tighter regulation. It added that strict prescribing norms favour companies such as Sun Pharma, Lupin and Torrent.

Stock Market Live: Jefferies Says Bank Meetings Point To Stable Q4, Flags Risk If Conflict Lasts

  • Jefferies said banks indicated business trends improved in Q4, suggesting stable results for the quarter.
  • The brokerage said if the conflict continues for longer, it could affect net interest margins, growth and asset quality, in that order.

  • It said working capital demand has risen, while some capex is slowing. Jefferies added there has been no move on moratoriums with the RBI so far, as the impact is not yet broad. It said collections in April will be important to watch and reiterated that Nifty Bank price-to-book is near lows, offering attractive risk-reward.

Stock Market Live: Jefferies Says AI, Currency Concerns Weigh On Capital Goods Sentiment

  • Jefferies said market sentiment in capital goods is under pressure from AI-related concerns and currency moves.
  • The brokerage said one month of no work for L&T in the Middle East could mean a 6-8% hit to annual earnings per share.

  • Jefferies said NTPC and JSW Energy could see upside from a recovery in power demand and execution. It added that margin expansion could support Siemens Energy and Hitachi Energy, while Cummins offers visible FY25-28 earnings growth and return ratios.

  • In defence, Jefferies said Bharat Electronics remains a core holding, while some contra investing has started in Hindustan Aeronautics. It added that KEI stands out for its exposure to multiple end markets.

Stock Market Live: Goldman Sachs Cuts India To Market-Weight, Lowers Nifty Target

  • Goldman Sachs has downgraded Indian equities to market-weight, citing higher-for-longer energy prices and a weaker macro setup for India.
  • The brokerage has cut its earnings growth forecast for India by a cumulative 9 percentage points over the next two years and said consensus estimates could see meaningful cuts over the next two to three quarters. It also lowered its 12-month Nifty target to 25,900 from 29,300.

  • Goldman Sachs said near-term investor sentiment could stay soft and prefers defensive sectors over cyclical ones. It is overweight on banks, staples, telecom, defence and energy, while downgrading cyclicals and downstream sectors such as durables, autos, NBFCs and OMCs.

Stock Market Live: Citi Stays Cautious On IT, Prefers Infosys And HCL Tech

  • Citi said Indian IT is heading for a fourth straight year of subdued growth and expects Q4FY26 constant-currency organic services revenue growth of -1% to 1% quarter-on-quarter for the top five companies.
  • The brokerage said macro risks may rise in early FY27 and expects the recovery to remain slow and uneven. It said management commentary on Middle East impact, total contract value trends and AI will be in focus.

  • Citi said margin trends need monitoring, though a weaker rupee could help in the near term. It remains cautious on the sector and prefers Infosys and HCL Tech among large-cap names.

Stock Market Live: Shanghai, Hang Seng Trade Lower In Asia

  • Shanghai fell 0.95% to 3,852.094 in trade.
  • Hang Seng declined 0.35% to 24,768.66.

Stock Market Live: Chris Wood Adds HSBC, Drops HDFC Bank In Greed & Fear Portfolio

  • Chris Wood has introduced HSBC with a 4% weighting in the Asia ex-Japan long-only portfolio, Global and International long-only equity portfolio. The move replaces HDFC Bank.
  • In the Asia Pacific ex-Japan relative-return portfolio, the weighting in Australia and India has been cut by two percentage points each.

  • The weighting in Taiwan has been increased by four percentage points.

Stock Market Live: Kotak Says Medium-Term Risk-Reward Has Improved Despite Recent Fall

  • Kotak India Strategy said the sharp fall in stock prices points to a bleak scenario, but a short and sharp conflict would be manageable and may have a limited impact on earnings.
  • It said the reward-risk balance looks better for the medium term.

  • Kotak added Coforge, Embassy REIT, Eureka Forbes, Federal Bank, Home First, Jubilant Food and Vishal Mega Mart to its mid-cap portfolio. It added DLF, Godrej Consumer and Info Edge to its large-cap portfolio.

  • The brokerage reduced weight on Reliance Industries and increased weight on M&M.

Stock Market Live: Nomura Sees Further White Goods Price Hikes From April

  • Nomura said white goods companies are preparing for a second round of price increases of 7-12% from April.
  • The brokerage said companies are passing on cost increases in phases, which should help ease near-term cost pressure.

  • Nomura said strong summer demand remains the key factor to track, as the outlook for demand and margins will depend on the season.

Stock Market Live: Brent Falls To $100.57, WTI Drops 1.5% As Tensions Ease

  • Oil prices fell as tensions eased in the conflict that has lasted nearly a month.
  • West Texas Intermediate for May delivery dropped 1.5% to $93.07 a barrel.

  • Brent crude futures fell 0.7% to $100.57 a barrel.

Stock Market Live: Kospi, Nikkei, ASX 200 Fall In Asia; Hang Seng Futures Lower

  • South Korea’s Kospi fell 4.16% to 5,233.06, while Japan’s Nikkei 225 declined 1.90% to 52,584.22.
  • Australia’s ASX 200 was down 0.79% at 8,458.10.

  • Hang Seng index futures were at 24,782, below the last close of 24,856.43.

Stock Market Live: GIFT Nifty Trades Below Wednesday’s Nifty 50 Close

  • GIFT Nifty traded at 23,037.
  • The level was below Wednesday’s Nifty 50 close of 23,306.45.
     

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