Stock Market News Today Live Updates: Nifty Below 22,750, Sensex Falls Over 800 Points; HDFC Bank, ICICI Bank Top Losers

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• Nifty fell as much as 1.1% to 22,719.
• Sensex dropped as much as 1.1%, or 824 points, to 73,832.

Nifty fell in pre-open trade and was down 0.6% at 22,838.70.

The rupee opened higher in trade. It appreciated by as much as 8 paise to 92.98 against the US dollar.

• Nifty traded near 22,950 in pre-open trade.
• Sensex gained more than 300 points in pre-open trade.

• Motilal Oswal has cut its FY27 Nifty 50 EPS estimate by 1.3% to Rs 1,246.
• The brokerage expects Nifty 50 companies to report 13% year-on-year revenue growth in the January-March period.
• It expects net profit to rise 6% year-on-year in the quarter and sees Nifty 50 EPS increasing 18% in FY27.

• Skymet has forecast India’s southwest monsoon at 94% of the long period average in 2026, indicating below-normal rainfall.
• It expects June rainfall at 101% of the long period average, July at 95%, August at 92% and September at 89%.
• Skymet said south peninsular India may see normal rainfall, while north, west and central India may receive below-normal rainfall. East and northeast India are seen getting above-normal rainfall. It also said El Nino is expected to strengthen and affect the monsoon in the second half.

• Lodha Developers reported Q4 pre-sales of Rs 5,890 crore, up 23% from a year earlier, according to an exchange filing. Collections rose 18% year-on-year to Rs 5,230 crore.
• The company added one project in Mumbai with a gross development value of Rs 1,300 crore.
• Net debt fell by Rs 800 crore in Q4 to Rs 5,370 crore, while net debt-to-equity stood at 0.23 times at the end of the quarter.

• Ajay Bagga told NDTV Profit that market sentiment suggests the ceasefire could be extended.
• He said Donald Trump appears to be trying to exit the war as quickly as possible.
• Bagga added that Israel and Arab allies do not want the US to step away from the conflict.

• FTR said preliminary net orders for North America Class 8 trucks and tractors fell 19% month-on-month to 38,200 units in March.
• Orders remained higher than a year earlier, rising 137%, marking the fourth straight month of more than 20% year-on-year growth. Orders over the past 12 months totalled 280,457 units.
• FTR said vocational demand rose from the previous month, while on-highway orders declined. It added that March orders were still above expectations despite the sequential drop.

• Kalyan Jewellers said consolidated revenue grew 64% year-on-year in Q4.
• India operations revenue rose more than 65%, while same-store sales growth stood at more than 45%. International revenue growth came in at 45%, with Middle East revenue up 39%.
• The company said the ongoing war has caused supply disruptions. For FY26, consolidated revenue grew 42%, while India operations revenue increased 43%.

• JPMorgan has upgraded Hindalco to Overweight from Neutral and raised the target price to Rs 1,125 from Rs 875. It also upgraded Vedanta to Overweight from Neutral and increased the target price to Rs 850 from Rs 680.
• The brokerage said the West Asia conflict is likely to keep aluminium prices higher for longer.
• JPMorgan said Vedanta’s risk-reward looks attractive and does not see energy inflation as a major concern. It said the worst may be behind for Novelis, while tailwinds in Hindalco’s India business should help ease debt concerns.

GIFT Nifty traded at 22,886.50, below Monday’s Nifty close of 22,968.25. The move pointed to a negative start for the market.

• Jefferies said it has revised estimates for travel companies to factor in the impact of disruption linked to the Middle East, including softer international traffic, higher fuel costs and weaker inbound tourism.
• The brokerage said airlines are the most exposed as capacity cuts linked to the region and fare increases may pressure load factors. It added that airports face traffic and spending headwinds, while hotels may see some pressure from weaker foreign tourist arrivals, partly offset by domestic demand.
• Jefferies maintained Buy on IndiGo, Indian Hotels, ITC Hotels, Chalet and GMR Airports, but cut target prices for IndiGo to Rs 5,500 from Rs 6,140, Indian Hotels to Rs 800 from Rs 900, ITC Hotels to Rs 210 from Rs 250 and Chalet to Rs 910 from Rs 1,075. It kept GMR Airports at Buy with a target price of Rs 125.

• Opening cues point to a range-bound start as Donald Trump reiterated the need for the Strait of Hormuz to reopen and stepped up threats against Iran.
• Major asset classes traded in a narrow range, while Asian markets opened with minor gains. South Korean markets rose, helped by Samsung earnings.
• Risk-off sentiment remains in place, global bond yields are firm and Brent crude stays elevated. FII short positions stood at 82% against 83%, while foreign investors remained sellers in the cash market for a 24th straight day.

• Morgan Stanley has maintained its Overweight rating on Jubilant FoodWorks with a target price of Rs 693.
• The brokerage said Q4FY26 was a big miss.
• It said like-for-like growth came in at 0.2%, against its estimate of 4%.

• Macquarie has maintained its Underperform rating on Jubilant FoodWorks with a target price of Rs 460.
• The brokerage said the pre-Q4 update points to weak India performance and stronger international business. It expects India margins to come under pressure due to weaker like-for-like growth.
• Macquarie said healthy like-for-like growth in Turkey is encouraging, but remains concerned about weakness in India despite support from the T20 Cricket World Cup. It also said the company has limited room to raise delivery contribution from current levels and faces a difficult base for growth.

• Morgan Stanley has maintained its Equal-weight rating on Godrej Consumer and set a target price of Rs 1,159.
• The brokerage said the company’s Q4 performance was broadly in line.
• It said India saw broad-based growth, competitive intensity in Indonesia has likely peaked, and Godrej Africa, USA and Middle East posted consistent double-digit growth.

• Macquarie has maintained its Outperform rating on Godrej Consumer and kept the target price at Rs 1,340.
• The brokerage said the pre-Q4 update was mixed, with India performance remaining healthy and international business staying weak.
• It said weaker-than-expected international performance may weigh on near-term results, though the company is still expected to remain broadly in line with its original FY27 bottom-line plans even at current cost levels.

• Gallant Ispat, Godrej Consumer Products, Shyam Metaliks, CreditAccess Grameen, Fino Payments Bank and PC Jeweller are on the watchlist after their latest business updates. ONGC and Oil India are also in focus as Brent crude remains elevated, while IRFC, Titagarh Rail, Deep Industries, Brigade Hotel Ventures, Tube Investments of India and ACME Solar are in focus on company-specific developments.

• Jubilant FoodWorks and Gujarat Pipavav are on the downside watchlist after their updates, while Kolte-Patil is in focus after a tax notice. Pace Digitek and Glottis are also on the watchlist due to share lock-in expiry.

• Among Q4 business updates, Gallant Ispat, Shyam Metaliks, PC Jeweller and Fino Payments Bank were marked strong. CreditAccess Grameen and Godrej Consumer were seen as mixed, while Jubilant FoodWorks and Gujarat Pipavav were marked weak.

GIFT Nifty traded at 22,975, compared with the previous Nifty close of 22,968.25.

• Oil was little changed as Donald Trump stepped up threats against key Iranian infrastructure ahead of a Tuesday deadline.
• Brent traded near $110 a barrel after rising 0.7% in the previous session.
• West Texas Intermediate hovered around $113 a barrel after closing at its highest level since June 2022.

• Asia-Pacific markets moved higher on Tuesday, tracking gains on Wall Street as traders continued to assess developments linked to the Iran war.
• Australia’s S&P/ASX 200 rose 1.4% in early trade, while South Korea’s Kospi gained 1.5% and the Kosdaq added 0.5%.
• Japan’s Nikkei 225 advanced 0.35% and the Topix rose 0.62%. Hong Kong markets remained closed for the Easter holiday.