Stock Market News Today Live Updates: GIFT Nifty Indicates Gap-Down Open; Brent Crude Steady At $112 A Barrel

• Morgan Stanley maintained its Overweight rating on ONGC and raised the target price to Rs 363 from Rs 299. It also kept Oil India at Overweight and raised the target price to Rs 563 from Rs 455.
• The brokerage downgraded GAIL to Equal-weight from Overweight and cut the target price to Rs 150 from Rs 236. It also downgraded Petronet to Equal-weight from Overweight and lowered the target price to Rs 276 from Rs 342.
• Morgan Stanley said damage to LNG infrastructure in Qatar has shifted the LNG market to a more balanced position. It said this could support coal, diesel, upstream oil, refiners, fertilisers and some power producers, while demand growth for gas may remain weak.

• Vedanta shares will be in focus on Monday as the board is set to consider and approve a third interim dividend for the financial year ending 31 March 2026.
• The company has fixed 28 March as the record date to determine shareholder eligibility for the dividend.
• Vedanta paid an interim dividend of Rs 16 in August and Rs 7 in June last year.

Read the full report here.

• Goldman Sachs maintained its Buy rating on IndiGo and cut the target price to Rs 5,200 from Rs 6,000.
• The brokerage said supply constraints are likely to become visible over the next few quarters.
• It cut its FY26, FY27 and FY28 estimates to reflect higher fuel costs and weaker traffic on Middle East routes in the near term.

• Morgan Stanley maintained its Overweight rating on ONGC and raised the target price to Rs 363 from Rs 299. It also maintained Overweight on Oil India and raised the target price to Rs 563 from Rs 455.
• The brokerage downgraded GAIL to Equal-weight from Overweight and cut the target price to Rs 150 from Rs 236. It also downgraded Petronet to Equal-weight from Overweight and cut the target price to Rs 276 from Rs 342.
• Morgan Stanley said damage to LNG infrastructure in Qatar has shifted the LNG market from surplus to balance. It said higher gas prices could slow demand growth for gas, while supporting upstream oil producers and companies with refining exposure.

• Kotak Mahindra Bank shares are in focus after an Economic Times report said the lender is set to acquire Deutsche Bank’s retail business in a Rs 4,500 crore deal, with the signing and announcement expected next week.
• The report said Kotak Mahindra Bank has emerged as the preferred buyer. Deutsche Bank’s India retail business includes a retail and loan deposit book of about Rs 27,000 crore and a wealth management business of about Rs 7,000 crore.
• Separately, Kotak Mahindra Bank said it will sell a 30.99% stake in Infina Finance for Rs 1,293 crore. Infina Finance is the bank’s capital lending arm.

• Stocks in focus on the positive side include InterGlobe Aviation and SpiceJet after the civil aviation ministry withdrew the fare cap, ONGC and Oil India as crude prices stayed elevated, and pharma companies including Shaily Engineering on the semaglutide launch.
• L&T is on watch after commentary on its Middle East business, DLF after a block deal involving Goldman Sachs and ICICI Prudential Mutual Fund, and Kotak Mahindra Bank on the sale of a non-core business stake worth Rs 2,600 crore.
• Railtel, DCX Systems, Ceigall and Simplex Castings are in focus on order wins, while Waaree Energies, IFGL Refractories, Elgi Equipments, TARIL and Voltamp Transformer are on watch for management changes, operating disruption and policy-related updates.

Geo-political tensions remain in focus as the US-Iran war enters day 24, with Asian markets opening in the red. The rupee is expected to open at record lows, while global bond yields continue to rise.

FII short positions are unchanged at 86%, and FIIs have remained net sellers in the cash market for a 17th straight day. The sell-off in gold and silver continues, while crude prices remain elevated.
 

• Japan’s Nikkei 225 fell nearly 5%, while the Topix dropped 4.4%.
• South Korea’s Kospi fell more than 6%; the exchange briefly suspended trading after Kospi 200 futures fell over 5%.
• Australia’s S&P/ASX 200 declined 2.4%, while Hong Kong’s Hang Seng Index fell nearly 2% at the open.

• GIFT Nifty traded at 22,801.50 in early action.
• This compares with the Nifty’s Friday close of 23,114.50.

 

• Brent crude slipped 8 cents to $112.11 a barrel.
• US West Texas Intermediate crude fell 6 cents to $98.17 a barrel.