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Indian equity benchmarks ended little changed after a topsy-turvy session. The NSE Nifty 50 closed 0.02% lower at 24,326.65, while the BSE Sensex ended 114 points, or 0.15%, down at 77,844.52. The NSE Nifty MidCap 100 hit a record high and closed above 62,000 for the first time at 62,003.15. M&M, Bajaj Auto, NTPC, HDFC Life and L&T supported the Nifty 50, while Hindustan Unilever, TCS, ITC, Titan and Bajaj Finserv weighed on the index.
Elsewhere, Europe markets traded mixed. The pan-European Stoxx 600 was seen 0.14% higher. London's FTSE 100 fell 0.25%, while France's CAC 40 and Germany's DAX rose 0.2% and 0.3%, respectively. At the close, Asian markets settled higher. Japan's Nikkei 225 rose 5.58% to 62,833.84, crossing the 62,000 mark for the first time.Hong Kong's Hang Seng gained 1.70%, South Korea's Kospi advanced 1.43%, Australia's S&P/ASX 200 rose 0.96% and Shanghai Composite added 0.48%.
Meanwhile, Brent crude fell below $100 a barrel, declining as much as 3.8% to $97.44 per barrel. The move came after the contract traded above $100 earlier in the session.
Nifty 50 ended slightly lower but closed above the 24,300 mark. HDFC Life Insurance and Bajaj Auto were the top gainers on the index, with both rising over 2.5%, while Hindustan Unilever and Tata Consultancy Services fell over 1% each.
Broader markets outperformed the benchmarks, with Nifty Smallcap 250 and Nifty Midcap 150 ending over 1% higher each. Nifty Auto was the top sectoral gainer, rising nearly 2% and extending gains for the fourth straight session, while Nifty IT and Nifty FMCG fell over 0.5% each.
Nifty 50 closed 0.02% lower at 24,326.65, while Sensex ended 114 points, or 0.15%, down at 77,844.52.
Nifty Midcap 100 hit a record high and closed above 62,000 for the first time at 62,003.15. M&M, Bajaj Auto, NTPC, HDFC Life and L&T supported the Nifty 50, while Hindustan Unilever, TCS, ITC, Titan and Bajaj Finserv weighed on the index.
Kotak Mahindra Bank received RBI approval to buy up to 9.99% in Federal Bank, according to an exchange filing.
Catalyst Pharmaceuticals has reached a settlement with Hetero resolving patent litigation related to amifampridine, according to a Bloomberg report.
The agreement brings an end to the legal dispute over the drug, though specific commercial terms of the settlement were not disclosed.
Hetero is a well‑known player in the Indian pharmaceutical space and was the first company to launch the antiviral drug Remdesivir in India during the Covid‑19 pandemic.
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NBCC India received a Rs 103 crore CSR project from Power Finance Corp, according to an exchange filing.
Awfis Space Solutions unveiled nearly 1.14 lakh square feet of premium workspace across two new centres in Chennai, according to an exchange filing.
Larsen & Toubro’s buildings and factories business received orders worth Rs 2,500–5,000 crore across three states. The company disclosed the order wins in an exchange filing.
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KEI Industries shares fell 2.56% to Rs 5,016.80 after reports said the Income Tax Department was conducting searches. The stock moved between Rs 5,005.10 and Rs 5,245 in intraday trade.
SpiceJet shares rose 4.96%, while InterGlobe Aviation gained 0.13% in early trade.
Oil marketing companies traded lower, with HPCL down 0.96%, IOC down 0.66% and BPCL down 0.59%.
Nifty Midcap 100 traded 0.59% higher at 61,690. The index moved between 61,510.30 and 61,699.40 in early trade.
The Indian rupee weakened as much as 0.2% to 94.76 against the US dollar.
Citi maintained a buy rating on Shree Cement but cut its target price to Rs 29,200 from Rs 31,650, citing higher volumes, lower realisations and higher costs.
Morgan Stanley maintained an underweight rating with a target price of Rs 25,500. It cited the company’s FY27 volume growth guidance and cost inflation as factors to track.
Citi initiated coverage on NTPC, Tata Power, Power Grid and JSW Energy with buy ratings. It set target prices of Rs 485 for NTPC, Rs 525 for Tata Power, Rs 380 for Power Grid and Rs 650 for JSW Energy.
The brokerage said India’s power sector capex cycle spans thermal, renewables, transmission and grid storage. It expects medium-term power demand to grow at a 5–6% compound annual rate, led by electrification, data centres, cooling demand and policy-backed manufacturing.
Morgan Stanley maintained an equal-weight rating on Godrej Consumer with a target price of Rs 1,159, citing near-term EBITDA margin risk. Citi kept a buy rating but cut its target price to Rs 1,300 from Rs 1,425.
Jefferies maintained a buy rating and reduced its target price to Rs 1,400 from Rs 1,500. Brokerages cited higher crude and palm-led costs, price hikes, India home care growth and muted international EBITDA growth.
HDFC Bank shares will be in focus after the RBI allowed its group entities to hold up to 9.95% in ICICI Bank and Kotak Mahindra Bank.
The approval is valid for one year and covers holdings by HDFC Mutual Fund, HDFC Life, HDFC ERGO, HDFC Pension Fund Management and HDFC Securities. The approval does not involve a direct investment plan by HDFC Bank.
Read the full story here.
Companies including ACME Solar Holdings, Bharat Forge, Biocon, Dabur India, Lupin, MRF, Pidilite Industries, Sonata Software, Thermax, V-Mart Retail and Westlife Foodworld are scheduled to report earnings today.
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