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Indian equity benchmarks closed lower for a second consecutive trading session. The BSE Sensex fell 852 points to end at 77,664, while the NSE Nifty 50 closed 0.84% lower at 24,173.
Meanwhile, oil prices moved higher on Thursday due to a lack of progress in US-Iran talks. Brent crude rose $1.26, or 1.2%, to $103.17 a barrel, while West Texas Intermediate gained $1.20, or 1.3%, to $94.16. Brent had closed above $100 in the previous session for the first time in more than two weeks.
Elsewhere, Asian markets ended mostly lower, with Japan's Nikkei falling 0.75%, Hong Kong's Hang Seng declining 0.95%, Australia's ASX 200 slipping 0.57%, and China's Shanghai Composite down 0.32%. South Korea's Kospi was the only major gainer in the region, rising 0.90%.
Futures contracts for the S&P 500 Index and the tech-heavy Nasdaq 100 both dropped 0.5%, after the underlying gauges closed at a record high on Wednesday.
Indian equity benchmarks closed lower for a second consecutive trading session. The BSE Sensex fell 852 points to end at 77,664, while the NSE Nifty 50 closed 0.84% lower at 24,173.
Indostar Capital said its board has approved the allotment of non-convertible debentures worth Rs 600 crore, according to an exchange filing.
Indian markets are under pressure in Thursday's session as escalating tensions in the Middle East, FII selling,a nd rising crude prices have triggered a broad risk‑off move again. At 1 pm, the Nifty slid more than 170 points (down 0.70%) to around 24,209 while the Sensex dropped over 700 points (down 0.93%) to nearly 78,732.
Here are three key reasons dragging the markets on Thursday.
HSBC said Indian equities are now "less attractive" than its North East Asian peers like South Korea in the current macro environment.
The brokerage has upgraded Korea to 'neutral' from 'underweight' as heavy foreign positions have unwound and some crowded trades have eased. Moreover, supportive domestic flows and strong earnings led by AI-driven demand underpin the outlook.
Korea's benchmark Kospi index has surged 51% year-to-date, compared to a 6.7% decline in India's blue-chip Nifty 50 index.
Anil Rai Gupta, Chairman of Havells India, told NDTV Profit that the ongoing Middle East conflict is expected to be temporary in nature. He expressed confidence that the company will see better growth in the coming year despite near-term challenges.
Gupta also said that price hikes are likely in the near future as the Middle East crisis has begun to push up input and logistics costs.
The company makes cables, fans and other cooling products. These use petroleum derivatives imported into India.
In other news, the government on Thursday denied news reports suggesting a price hike in petrol and diesel due to higher international crude oil prices. A research report by Kotak Institutional Equities, widely quoted in media, mentioned that the current freeze in fuel prices due to ongoing elections in different states is not sustainable as oil marketing companies (OMCs) are facing heavy losses. Fuel costs in India may rise sharply by Rs 25–28 per litre after the elections conclude.
Last week, crude oil prices hovered around $120 per barrel, putting pressure on the pricing system. Business Today cited the Kotak report to underline the gap between crude futures and actual oil supply, showing continued supply stress. If prices are not revised soon, the financial burden on fuel companies could increase further, it said.
"There are some news reports suggesting a price hike of petrol and diesel. It is hereby clarified that there is no such proposal under consideration by the Government. Such news items are designed to create fear and panic amongst the citizens and are mischievous and misleading," the Ministry of Petroleum and Natural Gas said in a post on X.
L&T Technology Services expects the company to grow at a compound annual growth rate (CAGR) of 13–15 per cent over the next three years, Amit Chadha, MD & CEO, told NDTV Profit. The company said the number of AI-related patents has increased, reflecting a stronger focus on advanced technologies. It also expects its continuing business to post sequential growth going forward.
L&T Tech Services reported large deal wins worth $855 million. Management indicated that, thematically, the second half of the year is expected to be better than the first half.
The technology segment has performed well and contributed significantly to overall growth. The company also said it has divested a part of its business as part of its strategic realignment.
UBS has taken a decisively more bullish stance on Jubilant FoodWorks, double-upgrading the stock from ‘Sell' to ‘Buy' and raising its price target to Rs 600 from Rs 540. The move implies a meaningful upside from current levels, with the brokerage arguing that the recent correction has created a favourable entry point for investors willing to take a contrarian view.
According to UBS, the stock's sharp pullback — driven by concerns such as elevated LPG costs and near-term demand pressures — has already priced in much of the downside. With valuations now sitting below historical averages, the brokerage sees room for a re-rating as operating conditions normalise.
Information technology companies including Infosys Ltd., Cyient Ltd., and LTIMindtree Ltd. will announce their March quarter financial results on Thursday. The companies may also announce final dividends for FY26.
Here are the analysts' consensus estimates compiled by Bloomberg:
India's April PMI data signalled a pickup in momentum across manufacturing and services, pointing to a strengthening expansion at the start of the new financial year. The HSBC India Manufacturing PMI rose to 55.9 in April, up from 53.9 in March, indicating improved output and new order growth.
Services activity also firmed, with the HSBC India Services PMI climbing to 57.9 from 57.5 month‑on‑month, reflecting sustained demand in the sector.
Cipla US arm gets FDA approval for Albuterol Sulfate Inhalation Aerosol, an equivalent of Ventolin, marketed by GSK. The drug is used to treat bronchospasm.
Source: Exchange Filing
Havells India
Krishna Institute of Medical Science
Stock fell as much as 5.5% to Rs 644.50
Trading volume was almost eight times its 20-day average
Bharat Coking Coal
Sterlite Technologies
Indiqube Spaces
Websol Energy System
Trent traded in a narrow but volatile range after announcing its Q4 results, dividend and bonus share issue. The stock moved between Rs 4380.20 and Rs 4460 in early trade.
The share was last seen at Rs 4433.50, nearly unchanged from its previous close of Rs 4434.50.
Indian equity benchmarks opened lower, extending losses for a second straight session. The Sensex fell as much as 823 points, or 1.05%, to 77,693, while the Nifty dropped 1% and slipped below the 24,200 mark in early trade.
Indian equity benchmarks came under sharp selling pressure in the pre-market trade. The Nifty fell close to the 24,200 mark, while the Sensex declined by more than 1,400 points.
The rupee opened lower against the US dollar, extending its decline for a fourth straight trading session. The local currency weakened by as much as 20 paise, or 0.22%, to 94 in early trade.
Source: PTI
With inputs from Reuters.
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