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Indian equity benchmarks ended little changed after a topsy-turvy trade on Monday amid weak global cues over renewed tensions in the middle east. The NSE Nifty 50 and the BSE Sensex ended marginally higher at 24,364 and 78,520.30 respectively.
Tensions between the US and Iran increased after attacks on commercial ships near the Strait of Hormuz. The US said its Navy fired on an Iranian container ship in the Gulf of Oman and later took custody of the vessel after it attempted to cross a naval blockade. The action followed an earlier tanker attack in the Strait of Hormuz, where ships were hit during the weekend.
Meanwhile, Crude oil prices climbed on Monday. West Texas Intermediate futures rose nearly 7% to $89.53 a barrel, while Brent crude gained 6.2% to $96.05 a barrel. Elsewhere, US index futures traded lower, indicating a weak start for Wall Street. Dow Jones futures fell 358 points, or 0.72%. S&P 500 futures declined 0.58%, while Nasdaq-100 futures slipped 0.53%.
Q4FY26 Estimates (Standalone, YoY)
The Ministry of Petroleum and Natural Gas will hold a meeting today to prepare a roadmap for flex fuel vehicles, according to top government sources.
The meeting will be chaired by the Additional Secretary at 3:30 pm and attended by oil marketing companies, auto makers and other stakeholders.
The government is exploring ways to raise ethanol blending beyond the current 20% level and is working on a policy for vehicles that can run on fuel with up to 85% ethanol blend. The move aims to reduce dependence on fuel imports amid the West Asia crisis.
Technical analyst Kush Bohra has identified high-conviction trading opportunities for the upcoming session, focusing on the capital goods, banking, and industrial carbon sectors.
His latest recommendations feature engineering heavyweight ABB India, private lender Tamilnad Mercantile Bank (TMB), and electrode manufacturer Graphite India.
MSCI has announced that its May 2026 index rejig will be declared on May 13, with changes becoming effective from June 1. Passive fund flows linked to the rejig are expected on May 29. The price cut-off date, as per MSCI methodology, can fall on any of the last ten working days of April 2026, making stock performance during this period particularly important.
Axis Capital expects several potential inclusions in the MSCI indices. Among stocks highlighted are Federal Bank (estimated flows of $380 million, 15.8x average daily volume), MCX ($270 million), NALCO ($265 million), Adani Green ($250 million), Adani Energy ($220 million), and Indian Bank ($190 million), with flow-to-ADV ratios ranging from 2.3x to 15.8x, indicating potentially meaningful stock-specific impact around the rebalance date.
Shares of Billionbrains Garage Ventures, the parent of stock broking platform Groww, traded higher ahead of results. The stock rose as much as 3.6% initially during the session.
Source: Bloomberg
Ajay Srivastava of Dimensions Corp said foreign investors may return if valuations become reasonable, though liquidity in India could be affected.
He said power and renewable energy stocks look positive, adding that wider adoption of AI could benefit the power sector.
Srivastava also sees traction in gold loan companies and said investors should track retail lending trends at HDFC Bank and ICICI Bank. He added that opportunities remain available across stock-specific themes.
Source: Bloomberg
The Nifty Bank index moved higher in intraday trade after an early decline.
The index rose 0.55% to 56,878.40 after touching a low of 56,356.55. It hit an intraday high of 56,906.45.
Jio Financial Services (Q4)
Total income up 96.9% at Rs 1,020 crore versus Rs 518 crore.
Net profit down 13.9% at Rs 272 crore versus Rs 316 crore.
YES Bank (Standalone Q4)
NII up 15.9% at Rs 2,638 crore versus Rs 2,276 crore.
Op profit up 23.1% at Rs 1,618 crore versus Rs 1,314 crore.
Net profit up 44.7% at Rs 1,068 crore versus Rs 738 crore.
Provisions down 41% at Rs 188 crore versus Rs 318 crore.
Gross NPA improved to 1.3% versus 1.5% QoQ.
HDFC Bank (Standalone Q4)
NII up 3.2% at Rs 33,082 crore versus Rs 32,066 crore.
Op profit up 4.8% at Rs 27,801 crore versus Rs 26,537 crore.
Net profit up 9.1% at Rs 19,221 crore versus Rs 17,616 crore.
Provisions down 18.3% at Rs 2,610 crore versus Rs 3,193 crore.
Gross NPA reported at 1.15%.
Note: The board recommended a final dividend of Rs 13 per share and approved raising up to Rs 60,000 crore via debt.
ICICI Bank (Standalone Q4)
NII up 8.4% at Rs 22,979 crore versus Rs 21,193 crore.
Op profit up 3% at Rs 18,199 crore versus Rs 17,664 crore.
Net profit up 8.5% at Rs 13,702 crore versus Rs 12,630 crore.
Provisions down 89.2% at Rs 96.2 crore versus Rs 891 crore.
Gross NPA improved to 1.4% versus 1.5% QoQ.
Note: The board declared an interim dividend of Rs 12 per share and renewed its fundraise limit of Rs 25,000 crore via debt.
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