Stock Market News Today Live Updates: GIFT Nifty Points To Muted Open For Nifty, Sensex; Brent Crude Gains As US-Iran War Escalates

Indian benchmark indices showed mixed trends in pre-market trade, with Nifty 50 trading lower and Sensex marginally higher.

• Nifty 50 was down 0.10% at 23,218.80, falling 23.30 points.
• Sensex rose 0.08% to 73,974.70, up 55.94 points.

• The Indian rupee opened weaker against the US dollar, falling by 21 paise to 95.56.
• The currency declined at the start of trade compared with the previous close.

Macquarie maintained its Outperform rating on Lenskart with a target price of Rs 600.

• The brokerage expects growth momentum in India to sustain.
• It sees more than 35% EBITDA CAGR over FY26–FY29.
• Macquarie raised its EPS estimate and target price by 5%.

CLSA maintained its Outperform rating on State Bank of India with a target price of Rs 1,275.

• The brokerage highlighted stronger compliance with priority sector lending norms and continued focus on retail deposit growth.
• It said SBI’s retail savings and term deposits grew 12–15% in FY26, while corporate salary accounts crossed 20 million.
• CLSA said stable RIDF assets are reducing pressure on net interest margins.

Kotak Institutional Equities retained its Buy rating on Eternal with a fair value of Rs 385.

• The brokerage said the top three quick-commerce players ended FY26 with 4,525 stores and combined NMV of Rs 277 billion in the fourth quarter.
• It said industry NMV grew 81% year-on-year in FY26, while competitive intensity remained high.
• Kotak said Blinkit appeared more disciplined than newer entrants and near-term growth could improve.

• Jefferies said Divi’s Laboratories is among the key beneficiaries of Biosecure restrictions on Chinese CRDMOs. It estimated the China 1 opportunity for Indian CRDMOs at about $700 million annually.
• Macquarie maintained Outperform on Divi’s Laboratories with a target price of Rs 7,500. It said the updated US DoD 1260H list is positive for Indian CDMOs and expects supply chain diversification to benefit Indian players.

JP Morgan maintained its Neutral rating on Colgate-Palmolive India with a target price of Rs 2,250. It also maintained Overweight on Aegis Logistics and raised the target price to Rs 1,150 from Rs 1,010.

• For Colgate-Palmolive India, JP Morgan said the premiumisation strategy remains intact and expects balanced volume and price-led growth in FY27.
• The brokerage said Colgate-Palmolive India’s EBITDA margin may remain constrained by higher brand investments.
• For Aegis Logistics, JP Morgan said LPG supply shortfall narrowed to 30% in May from 50% in April.
• It expects LPG supply normalisation by Q2 FY27 and raised FY27–FY28 EPS estimates by 14–18%.

DAM Capital initiated coverage on PhysicsWallah with a Buy rating and a target price of Rs 140, implying a 33% upside.

• The brokerage expects 24% revenue CAGR and 71% EBITDA CAGR over FY26–FY28.
• It said growth will be driven by online category expansion, maturing offline centres and operating leverage.
• DAM Capital said PhysicsWallah has the lowest customer acquisition cost among Indian ed-tech peers.

HSBC initiated coverage on Max Financial Services with a Buy rating and a target price of Rs 2,120.

• The brokerage said Axis Max Life Insurance remains among India’s fastest-growing life insurers.
• HSBC expects diversified distribution and product mix to support growth and margins.
• It sees operating performance and progress on a potential merger as key catalysts.

Jefferies initiated coverage on Meesho with a Buy rating and a target price of Rs 225.

• The brokerage said Meesho is building a value commerce platform based on affordability, discovery and logistics efficiency.
• Jefferies forecasts 25% NMV CAGR and around 3% adjusted EBITDA margin by FY30.
• It said the company’s net cash balance sheet and negative working capital support capital-efficient growth.

• Investors will track May AMFI data, a Cabinet meeting, the DGTR press conference and Tata Consumer Products’ AGM during the day.
• Other events include Zee Entertainment’s fundraise, CMR Green Tech’s IPO listing, Day 2 of the BRICS meeting and US May CPI data.

Citigroup cut its three-month gold target to $4,000 per ounce from $4,300, while keeping its six- to 12-month target at $5,000 per ounce.

• Spot gold traded at $4,331.72 per ounce in London on Tuesday.
• Citi said gold may face near-term pressure, while a stronger dollar and higher US Treasury yields limited gains.

Amber and Kaynes are in the F&O ban period, according to the latest securities list.

• Nifty June futures rose 0.74% to 23,347.00, trading at a premium of 104.9 points.
• For the June 16 expiry, maximum Call open interest stood at 24,000, while maximum Put open interest was at 21,200.

• Acutaas Chemicals, Balaji Amines, Monolithisch India and Vinyas Innovative Technologies have been shortlisted under the long-term ASM framework.
• Balaji Amines and Supriya Lifescience will be excluded from the ASM framework.

Paisalo Digital promoter group entities pledged shares, while three stocks saw their price bands revised from 20% to 10%.

• Pri Caf and Pro Fitcch pledged 18.10 lakh shares each in Paisalo Digital.
• Equilibrated Venture Cflow pledged 49.09 lakh shares in the company.
• GRM Overseas, Panacea Biotec and Welspun Specialty Solutions had their price bands changed to 10% from 20%.

Several stocks saw bulk and block deals on Wednesday, with mutual funds, promoter group entities and investment firms buying or selling shares.

• Adani Infra bought 2.15 crore shares of Adani Green Energy, while Ardour Investment Holding sold the same number of shares at Rs 1,510 each.
• In Ajanta Pharma, Kotak Mahindra Mutual Fund and Aditya Birla Sun Life Mutual Fund bought shares, while Ravi Agrawal Trust sold 34.50 lakh shares at Rs 2,968 each.
• Kotak Mahindra Mutual Fund bought 36 lakh shares of Emcure Pharmaceuticals, while BC Investments IV sold the same quantity at Rs 1,700 each.
• In Bluestone, Nippon India Mutual Fund bought 25 lakh shares, while 360 ONE Special Opportunities Fund, Accel India III and IvyCap Ventures Trust sold shares.

Several companies announced updates before trade on Wednesday, including regulatory notices, court orders, fundraises, stake sales and order wins.

• Patanjali Foods received a Maharashtra FDA notice over juice advertisements and promotional labelling, while the company said no monetary penalty has been imposed.
• Bharti Airtel said the Bombay High Court set aside an Rs 8,414 crore demand notice, including an Rs 473.7 crore OTSC demand linked to Bharti Hexacom.
• Dixon Tech signed a binding joint venture term sheet with Gemtek to make optical transceivers and networking equipment for data centre and telecom use.
• Afcons Infra secured a Letter of Acceptance worth Rs 5,301 crore for the breakwater project at Vadhvan Port.
• Newgen Software said CEO Virender Jeet has resigned with effect from August 31, citing personal and professional reasons.

GIFT Nifty traded at 23,251.50, compared with Tuesday’s Nifty 50 close of 23,242.10. It was earlier trading at 23,273.

Tata Consultancy Services Chairman N Chandrasekaran said the company does not plan further staff downsizing, even as it increases the use of artificial intelligence.

• Chandrasekaran told shareholders at TCS’ 31st AGM that no additional layoffs are planned after last year’s workforce restructuring.
• He said hiring growth may moderate as AI becomes more embedded in business operations and software development.

Iranian media reported explosions and air defence activity across parts of southern Iran near the Strait of Hormuz.

• The reported locations included Bandar Abbas, Qeshm Island, Sirik County and Jask.
• These areas are positioned around the Strait of Hormuz, a key route for global energy shipments.

The latest US-Iran military exchange has renewed focus on the Strait of Hormuz, a key route for global oil and liquefied natural gas shipments.

• Before the conflict, about one-fifth of the world’s crude oil and LNG shipments moved through the waterway.
• US Energy Secretary Chris Wright said vessel movements through Hormuz had improved in recent days, but energy flows could take months to return to normal after the war ends.

Israel struck the southern Lebanese port city of Tyre, killing at least eight people, according to reports cited by Reuters. The strike came as fighting in Lebanon continued alongside wider Middle East tensions.

• Israeli forces later expanded evacuation warnings to more areas of Tyre.
• Israel has continued military pressure on Hezbollah despite ceasefire discussions involving Iran and the US.

Iranian state media reported explosions on Qeshm Island and near the Strait of Hormuz after the US strikes. Foreign Minister Abbas Araghchi said Iran would respond to the latest American military action.

• Araghchi rejected suggestions that Tehran was solely responsible for the helicopter incident.
• He said foreign forces operating near Iranian territory faced risks and should leave to reduce them.

A Reuters report said US authorities are examining whether an AH-64 Apache helicopter collided with an Iranian drone near the Strait of Hormuz. Officials have not determined whether any collision was deliberate.

• US Central Command said the two crew members survived and were recovered about two hours later.
• AP reported that a US military drone vessel helped locate the aviators before a helicopter completed the recovery.

Brent crude rose 0.8% to $92.15 a barrel after US forces attacked Iran following the downing of an American helicopter. Investors tracked the developments for their impact on oil prices.

The GIFT Nifty traded at 23,273, compared with Tuesday’s Nifty 50 close of 23,242.10. The early indicator was 30.9 points above the previous close.

Asian equities declined on Wednesday as technology shares fell and tensions in the Middle East pushed oil prices higher. The dollar also gained as investors sought safer assets.

• South Korea’s Kospi fell 1.7%, while Japan’s Nikkei also traded lower.
• S&P 500 futures slipped 0.2%, and Hang Seng futures declined 0.7%.