Stock Market News Today Live: Nifty Falls To Near 23,900, Sensex Declines 300 Points; Infosys, HDFC Bank Top Losers

• Ola Electric Mobility shares rose as much as 6.5% to Rs 32.25, extending gains for a second session.

• The move follows the company’s update that its in-house LFP 46100 battery cell is ready and will be introduced in products from next quarter.

• The company said the new cell format will support lower vehicle costs and expand battery manufacturing capacity at its Gigafactory.

• The Gigafactory currently has 2.5 GWh capacity, with plans to scale up to 6 GWh. Trading volumes were more than double the 20-day average.

• Donald Trump said US military assets will remain deployed in and around Iran until the agreement is fully complied with.
• He said action would escalate if the agreement is not followed, while reiterating that there will be no nuclear weapons and the Strait of Hormuz will remain open and safe.

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• Nifty fell 0.3% to 23,914 and dropped as much as 0.75% to 23,815 during the session.

• Sensex declined 0.4% to 77,253 and fell up to 600 points, or 0.8%, to 76,950 intraday.

• Infosys and HDFC Bank were among the top declining stocks.

• The rupee opened at 92.58 against the US dollar.
• The local currency was at 92.66 against the US dollar at Wednesday’s close.

• Nifty traded near 24,000 in pre-open trade.
• Sensex surged more than 1,400 points in pre-open trade.

• Oil India and ONGC are on the watchlist as Brent crude reversed losses. FACT, RCF and National Fertilizers are also in focus after an increase in fertiliser subsidy allocation, while HPCL is in focus after Cabinet approval for the Rajasthan refinery project worth Rs 79,459 crore.
• Info Edge is on the watchlist after an inline Q4 operational update. Lupin is in focus after USFDA approval for a diabetes drug, KEC after new orders worth Rs 2,518 crore, NHPC after approval for the Kamala hydroelectric project worth Rs 26,070 crore, and NTPC after an MoU with EDF for nuclear power.
• Innovosion, JTL Industries and Bosch are also in focus on company-specific updates. On the downside, Signature Global is on the watchlist after Q4 pre-sales value fell 5% year-on-year to Rs 1,540 crore, while ITC Hotels is in focus after GQG Partners sold 1.28 crore shares.

• Om Power Transmission’s Rs 150.06 crore IPO opens for subscription on April 9. The issue includes a fresh issue of 76 lakh shares worth Rs 132.56 crore and an offer-for-sale of 10 lakh shares worth Rs 17.50 crore.
• The price band has been fixed at Rs 166-175 per share. The grey market premium stood at Rs 7, indicating a possible listing price of Rs 182 per share.
• The company said it will use the proceeds for capital expenditure, debt repayment, long-term working capital and general corporate purposes. It reported FY25 profit of Rs 22.08 crore, up 198% year-on-year, while revenue rose 53% to Rs 279.43 crore.

• Opening cues point to a cautious start as oil prices climbed on uncertainty around the ceasefire and reports of renewed Israeli strikes on Lebanon.
• Asian markets and US futures traded lower, signalling a return of risk-off sentiment. Gold held steady.
• FII short positions stood at 79% against 82% earlier, while foreign investors remained sellers in the cash market for a 26th straight day.

• JPMorgan has started coverage on India’s power equipment sector, with Overweight ratings on Hitachi Energy and GE Vernova, and a Neutral rating on Siemens Energy.
• The brokerage set target prices of Rs 29,000 for Hitachi Energy, Rs 4,300 for GE Vernova and Rs 2,600 for Siemens Energy.
• JPMorgan said high-voltage power equipment makers are in a multi-year upcycle as the grid expands to support renewable energy additions. It said the outlook is supported by rising adoption of HVDC technology and growing export opportunities linked to renewables, grid upgrades and AI-led power demand.

• Morgan Stanley’s Ridham Desai said trailing performance, valuations, positioning and earnings support a recovery in Indian stocks over the coming months.
• The brokerage said the RBI has improved sentiment on the rupee, which it sees as undervalued. It also said policy momentum remains strong and domestic investor support has held through the recent market fall.
• Morgan Stanley said it prefers domestic cyclical sectors over defensives and external-facing sectors. It is overweight financials, consumer discretionary and industrials, and underweight energy, materials, utilities and healthcare.

• Citi said if geopolitical risks have passed their peak, investors should take a stock selection approach within oil and gas.
• The brokerage said the focus should be on balancing medium-term fundamentals, recent stock price falls and valuations versus historical levels.
• On that basis, Citi said BPCL, GAIL and IGL are the stocks that stand to benefit in a scenario where the worst is over.

• Key triggers for the day include Sensex expiry and US initial jobless claims data.
• Q4 earnings are due from TCS, Anand Rathi Wealth and GM Breweries.
• Om Power Transmission’s IPO is also scheduled to open today.

• Revenue seen 3% higher at Rs 68,932 crore versus Rs 67,087 crore

• EBIT seen 3% higher at 17,345 crore versus Rs 16,889 crore

• EBIT margin seen at 25.27% versus 25.20%

• Profit seen 27% higher at Rs 13,581 crore versus Rs 10,657 crore

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• Goldman Sachs has maintained its Buy rating on Max Health with a target price of Rs 1,300.
• The brokerage said it is assessing the potential impact of the company’s entry into the Bhubaneswar market.
• It said Bhubaneswar is under-served, with only four hospitals in the catchment area of Max’s planned hospital. Goldman Sachs added that the announced acquisition is unlikely to face incremental competition within a 5 km radius for the foreseeable future, while management is identifying locations where it can run a hospital efficiently.

• HSBC said multiple domestic price increases in hot rolled coil through March and April are likely to hold, supported by several factors.
• The brokerage said further hikes may be difficult from current levels, but it does not expect any meaningful decline in domestic steel prices and sees upside risk to estimates.
• HSBC retained Buy on Tata Steel with a target price of Rs 250 and maintained Hold on SAIL with a target price of Rs 150, saying SAIL should also benefit from higher spot prices.

• HSBC said top-line growth and earnings are likely to be hit the most for life insurers, followed by asset management companies, while non-life insurers are relatively better placed in the current environment.
• The brokerage said weak equity markets create a dual impact for asset management companies and added that it prefers market leaders that can protect or gain market share during volatility.
• HSBC maintained Buy on SBI Life, HDFC Life, ICICI Prudential Life, ICICI Lombard, PB Fintech and ICICI Prudential AMC, while cutting target prices for most names. It maintained Hold on HDFC AMC and Nippon AMC, and kept Reduce on General Insurance.

• Asian markets extended declines in trade, led by South Korea’s Kospi, which fell 1.60%.
• Japan’s Nikkei 225 dropped 0.47%, while Australia’s ASX 200 was down 0.12%.

• China’s CSI 300 fell 0.72%, tracking broader weakness across Asian markets.
• Hong Kong’s Hang Seng Index also declined, down 0.63%.

• Iran’s parliamentary speaker Mohammad Bagher Ghalibaf said three clauses of the 10-point proposal had been violated even before negotiations began.
• He cited the absence of a ceasefire in Lebanon, the entry of a drone into Iranian airspace, and the denial of Iran’s right to enrichment as the alleged breaches.
• Ghalibaf said, in this situation, a bilateral ceasefire or negotiations would be unreasonable.

• Oil prices moved higher after Iran accused the United States of violating elements of the two-week ceasefire agreement, raising concerns over fresh disruption to energy supplies.
• Brent crude futures for June delivery rose 2.52% to $97.14 a barrel.
• US West Texas Intermediate crude futures for May delivery gained 2.72% to $96.96 a barrel.

• US markets closed sharply higher overnight, with the Dow Jones Industrial Average rising 2.85%, marking its best day since April 2025.
• The S&P 500 gained 2.51%, while the Nasdaq Composite climbed 2.80%.

• Asia-Pacific markets traded lower as investors reacted to reports that Iran’s parliamentary speaker accused the US of breaching the terms of the two-week ceasefire agreement.
• South Korea’s Kospi led the losses, down 0.91%.
• Japan’s Nikkei 225 fell 0.51%, while Australia’s ASX 200 slipped 0.12%.

GIFT Nifty traded at 23,967.50, compared with Wednesday’s Nifty close of 23,997.35