Stock Market LIVE: GIFT Nifty Indicates Muted Open; Tata Power, Natco Pharma, PFC, RVNL Shares In Focus

HSBC has come out with a cautious note on Tata Motors Passenger Vehicles Ltd, pointing out that all stars appear to be 'misaligned' for the company's Jaguar Land Rover business.

CLSA projected a 16% upside potential for Indian equities as multiple factors come together to form a base-case profitability for 2026.

The brokerage prefers Bajaj Auto Ltd., DLF Ltd., Eternal Ltd., ICICI Bank Ltd., Infosys Ltd., ITC Ltd., Oil and Natural Gas Ltd., NTPC Ltd., State Bank of India, Tech Mahindra Ltd., Tata Motors Ltd., and UltraTech Cement Ltd.

Oil steadied as investors tracked a risk-on mood in wider financial markets, which countered the impact of progress in peace talks over Ukraine that could pave the way for increased crude supplies.

West Texas Intermediate held near $59 a barrel after rising by more than 1% on Monday, while Brent closed above $63.

Read the Bloomberg article here.

Reliance Industries Ltd. has already delivered a strong year, rising 27% year-to-date and comfortably beating the Nifty’s 17% gain. Yet analysts remain upbeat heading into 2026, citing more room for valuation re-rating, a turnaround in the company’s refining cycle, and a series of catalysts expected next year.

Brokerage firm JPMorgan has revised the stock’s price target to Rs 1,727, with an 'overweight' call maintained.

Markets in most regions in Asia advanced as hopes for a rate cut in December increased after US Federal Reserve's positive remarks.

The UD Fed Governor Christopher Waller said that a rate cut is due in December because of a softer labour market. The US Fed New York President John Willian said that he also sees room for a near-term rate cut.

Japan's Nikkei 225 and South Korea's KOSPI were trading 0.61% and 0.83% higher, respectively as of 7:30 a.m.