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India's benchmark equity indices ended higher on Wednesday, with strength in heavyweights Reliance Industries, ITC and Bharti Airtel overpowering decline in bank stocks. The Nifty 50 settled 181.95 points or 0.76% at 24,177.65 and the BSE Sensex rose 609.45 points or 0.79% to close at 77,496.36.
Intraday, the Nifty reclaimed 24,300, rising 1.4%, and the BSE Sensex added over 1,000 points or 1.4% to just below 78,000.
Maruti Suzuki, Eternal, Bandhan Bank, Garden Reach Shipbuilders, Adani Total Gas, Cochin Shipyard and Astral were some of the most notable gainers today.
On the NSE, the Nifty FMCG surged the most, followed by Nifty Realty and Nifty Auto. The Nifty Media and the Nifty PSU Bank fell.
The broader market was mixed, with the Nifty Midcap 150 flat and the Nifty Smallcap adding 0.5%.
Elsewhere, Asian stocks were mixed after a technology‑led selloff on Wall Street, as concerns grew over the returns on billions of dollars being spent on artificial intelligence ahead of a slew of megacap earnings. Japan was closed for a public holiday. South Korea's Kospi closed 0.75% higher. Hong Kong's Hang Seng gained 1.7% and the Shanghai Shenzhen CSI 300 added 1.1%
In Europe, the Stoxx 600 nudged lower. The FTSE and DAX were also down.
Brent crude traded 1% higher at $112 a barrel. US benchmark West Texas Intermediate reclaimed $100 mark.
S&P 500 futures added 0.2%, while Nasdaq 100 futures rose 0.4%. Futures tied to the Dow Jones Industrial Average advanced 118 points, or 0.24%.
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Nasdaq 100 futures rose 0.3% after the index slipped more than 1% in the previous session. Futures tied to the Dow Jones Industrial Average and the broader S&P 500 were flat.
Alphabet, Microsoft, Amazon.com and Meta Platforms are set to report after the close, with all four firms among the outsized drivers of a four-week rally that has pushed US stocks to record highs. The sector outperformed in Europe and Asia as well.
The rupee depreciated 31 paise to settle at a record closing low of 94.85 against the dollar. This was a second consecutive session of decline.
Higher oil prices, with Brent near $115 per barrel, added pressure on the INR.
India's benchmark equity indices ended higher on Wednesday, with strength in heavyweights Reliance Industries, ITC and Bharti Airtel overpowering decline in bank stocks.
Intraday, the Nifty 50 reclaimed 24,300, rising 1.4%, and the BSE Sensex added over 1,000 points or 1.4% to just below 78,000.
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Other Updates
European equity benchmarks traded lower.
Waaree Energies shares are in focus ahead of the company's fourth quarter result announcement. The company is expected to report stronger March-quarter earnings, with revenue at Rs 7,587.06 crore. Profit is estimated at Rs 1,115.93 crore. Ebitda is likely to be at Rs 1,721.73 crore with a margin of 22.70%.
Shares of Waaree Energies are trading higher by over 1% at Rs 3,496.20 apiece.
Allen Career Institute, an Indian education services company backed by James Murdoch and ex-Disney executive Uday Shankar, is considering an initial public offering in Mumbai, people familiar with the matter said.
The company, founded in 1988 in the northwestern state of Rajasthan, has been in discussions with investment banks about a possible listing and is expected to formally appoint advisers soon, according to the people, who asked not to be identified because the information is private.
Source: Bloomberg News
Robert Kiyosaki has once again sounded a warning on markets, cautioning that a major crash — possibly akin to a “Great Depression” — could unfold around 2026-27. In a post on X, the Rich Dad Poor Dad author framed the coming downturn as a defining moment for investors, asking whether they would come out “messed up” or “lucked up.”
ITC Ltd and Godfrey Phillips India Ltd may raise cigarette prices from May 2026, with channel checks pointing to increases of about 17% across key brands, according to sources.
The expected price revision could extend beyond premium products, with similar hikes likely across value-end brands sold by both companies, distributors' sources told NDTV Profit.
The move is important because cigarette pricing can directly shape revenue growth, margins and demand trends for tobacco companies. For ITC, Goldflake Premium is expected to see its pack price rise to about Rs 135 from Rs 115 in May 2026, based on feedback from distributors cited in the checks.
Bajel Projects has secured two international orders falling cumulatively in the ultra-mega band. The combined order value falls under the ultra-mega category (Rs 400 crore), covering the construction of two contiguous sections of the 500 kV overhead transmission lines. The project is part of a flagship national grid reinforcement programme aimed at strengthening the high-voltage backbone in the MENA region and enabling reliable power evacuation to support growing economic and industrial demand.
Source: Exchange filing
E2E Networks has entered into an Agreement with a USA based AI service provider specialising in large-scale model training, for the provision of GPU cloud computing services along with other allied Services. The agreement, executed today, carries a total committed value of $7.7 Million (approximately Rs 73 crore) for a 6-month term.
Source: Exchange filing
Enviro Infra Engineers announced that its wholly owned subsidiary, EIE Renewables, has entered into Share Purchase Agreement to acquire a controlling stake in Suyog Urja, a wind energy EPC company. The deal is valued at Rs 311 crore payable in 3 tranches, with 1st Tranche at Rs 111 crore for 51% equity.
Post-acquisition, the consolidated order book of the ENVIRO group stands at approximately Rs 5,600 crore. Rs 4,400 crore in EPC (Rs 2,500 crore water, Rs 1,900 crore renewables), along with Rs 1,200 crore in O&M and an IPP portfolio comprising 79 MW of solar and 150 MWh of BESS.
Source: Exchange filing
Mindspace REIT has considered and approved raising of funds through the issuance of non-convertible debt securities and/or commercial papers up to an aggregate amount not exceeding Rs 15,700 crore, net of repayments, including the outstanding indebtedness from time to time, in one or more tranches, series, issuances, or phases.
Source: Exchange filing
Emcure Pharma shares jumped to a record high after large trades.
The total traded volume in the NSE was 6.4 times the 30 times average with a turnover of Rs 126 crore.
Indus Towers shares are in focus on Wednesday after the stock received an initiation from global brokerage firm, Nomura, which remains bullish on the stock, implying an upside of almost 18%.
In its latest note, Nomura has highlighted strong structural data growth for Indus Towers whereas the improving outlook for Vodafone Idea could be another big lever for the company.
The brokerage believes rising data consumption in the country and the gradual shift to 5G will also serve as key growth drivers for Indus Towers, as it would lead to higher equipment loading on telecom towers. This in turn would lead to increase loading revenue without any meaningful increase in costs.
Fresh long positions emerged in several stocks including Cochin Shipyard, Siemens, Glenmark, Mazdock and Crompton in early trade on Wednesday, according to NSE derivatives data available at 10 a.m.
These shares appeared in the accumulation list, where futures prices rose alongside open interest. That combination usually indicates traders were adding new bullish positions rather than only closing older trades.
Cochin Shipyard featured prominently in the early screen, while Siemens and Glenmark also saw gains in futures prices with higher open interest. Other names on the list included Bandhan Bank, Laurus Labs, Angel One and Adani Green
Nifty 50 derivatives traders built the largest visible positions around the 24,000 and 24,100 strikes by 9:45 a.m. on Wednesday, signalling that the two levels had become the key reference points for the opening phase of trade, data available on NSE showed.
The options chain showed sizeable put open interest at 24,000 and nearby strikes, while call open interest remained concentrated at 24,100, 24,500 and higher levels. That placed immediate support near the lower band of the range while leaving resistance stacked above spot levels.
Former HPCL Chairman M.K. Surana told NDTV Profit that the UAE’s decision to exit OPEC has been anticipated for some time. He said the move reflects the UAE’s effort to position its economy beyond being solely oil‑dependent. Surana noted that the UAE is looking to monetise its recent investments in the oil sector. He added that additional production from the UAE could add around 1.2 billion barrels to the global oil market.
He said the UAE’s exit from OPEC could open up opportunities for India, particularly in terms of energy engagement and sourcing. According to Surana, the UAE currently produces about 3.6 million barrels of crude oil.
Vedanta shares were choppy during early trade, ahead of its fourth quarter results.
Amish Shah, Head of India Research at BofA Securities, told NDTV Profit that Indian market valuations remain quite expensive. India continues to be a net importer of oil and gas; higher crude prices, particularly amid the Iran conflict, are putting pressure on markets.
He noted that the risk-reward for the Nifty currently looks balanced, but in a worst‑case scenario, Indian markets could see a downside of around 9%.
Shah said it is difficult to predict how long the war will continue, and added that foreign portfolio investor flows are likely to remain negative. According to Shah, India continues to look expensive for FPIs compared with markets such as China and Taiwan.
Shah expects Nifty earnings growth of about 8.5% in FY27. He also said Brazil offers an attractive opportunity from a commodity standpoint.
On the technology sector, Shah noted that IT companies in the US and Europe are trading at around 11 times price‑to‑earnings, while IT valuations in India remain rich despite the recent correction.
OneSource Specialty Pharma announced that its partner Dr. Reddy’s Laboratories Ltd., has received a Notice of Compliance from Health Canada for Semaglutide Injection, a generic version of Ozempic. OneSource serves as the CDMO partner on this program, providing scale-up and manufacturing support. The partnership is designed to ensure reliable and scalable commercial supply from OneSource’s US-FDA approved flagship manufacturing facility in Bengaluru.
Source: Exchange filing
Canada has approved its first generic versions of the blockbuster diabetes drug Ozempic, marking a key milestone in the global race to make GLP-1 therapies more affordable. The country's regulator, Health Canada, has granted drug identification numbers to semaglutide injections developed by Dr Reddy's Laboratories. Semaglutide is the active ingredient in Ozempic, originally developed by Novo Nordisk.
The company, in an exchange filing on Wednesday, confirmed that that they have been granted a Notice of Compliance (NOC) for their Semaglutide Injection, and that the approval does not have a fixed expiry date.
The Nifty 50 reclaimed 24,100 after open and the BSE Sensex added 360 points or 0.5% to 77,245.
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The Indian rupee opened 20 paise weaker at 94.75 against the US dollar. The local currency had depreciated 35 paise on Tuesday.
The dollar index was unchanged against major currencies. Most emerging Asian currencies were down against the greenback.
Shares of Maruti Suzuki India Ltd are in focus today, April 29 after the company reported a jump in revenue but a decline in profit for the fourth quarter. The consolidated revenue jumped 28.2% year-on-year to Rs 52,449 crore, compared with Rs 40,901 crore in the same quarter last year, aided by strong vehicle sales. Net profit dipped 6.9% to Rs 3,591 crore from Rs 3,857 crore a year earlier.
Brokerages cited exports as a significant key driver of FY26 outperformance, while flagging rising cost pressures, which could impact margins over the near to medium term.
Morgan Stanley maintained an 'Overweight' rating on the stock with a target price to Rs 17,895, citing The revised target is higher than 52 week high of Rs 17, 370, since then the stock has corrected around 22.8%.
Maruti Suzuki Chairman R.C. Bhargava told NDTV Profit that recent hikes in petrol and diesel prices have not impacted demand so far. He said the full impact of the Middle East conflict is yet to be felt, though the company has seen some changes in demand patterns due to the war.
Bhargava noted that waiting periods for vehicles need to become more reasonable. He said Maruti Suzuki expects to see double‑digit growth this year as well.
He added that exports to the Gulf region have been stopped due to the geopolitical situation. Bhargava also said that most of the company’s investments are in debt instruments.
Brokerages rolled out fresh calls on Bandhan Bank, Maruti Suzuki, Eternal, Dalmia Bharat, and REC Limited, alongside views across insurance, chemicals, QSR, pipes and renewables.
Eternal Ltd., the parent company of leading food delivery platform Zomato, is on brokerages' radar as the company posted an over fourfold jump in consolidated net profit in the fourth quarter of fiscal 2025-26. The bottomline came in at Rs 174 crore, compared to Rs 39 crore, according to a stock exchange filing on Tuesday. Eternal reported a steady operational performance in fourth quarter, with strong growth in quick commerce and food delivery businesses, alongside improving profitability metrics across segments.
Brokerages maintain a largely constructive stance on Eternal, with the exception of one Underperform rating from Macquarie. Citi maintains a Buy rating, but trims its target to Rs 360, whereas Morgan Stanley is more upbeat, with an Overweight rating and a hike in the target price to Rs 347. Investec also stays positive with a Buy rating, and a Rs 375 target. UBS echoes the sentiment with another Buy call, and a Rs 310 target price. Macquarie remains cautious with an Underperform rating and a Rs 200 target, warning of slowing expansion, and elevated competitive intensity.
AWL Agri Q4 FY26 (Cons, YoY)
Bandhan Bank Q4 FY26 (YoY)
Garden Reach Shipbuilders Q4 FY26 (YoY)
Citius Transnet Investment Trust will list on the exchanges today. The issue price is Rs 100.
The issue was entirely a fresh issue of 11.05 crore shares of Rs 1,105.00 crore. The InvIT IPO was subscribed 20.4 times, institutional investors were at 23.21 times & other investor were at 17.09 times.
The company is an infrastructure investment trust focused on the transport sector in India. The company acquires, manages, and invests in transport infrastructure assets such as roads.
Adani Power, Bajaj Finance, Cemindia Projects, Federal Bank, Fino Payments Bank, Force Motors, Geojit Financial Services, Granules India, HEG, IIFL Finance, Indegene, Indian Bank, Indian Overseas Bank, Jana Small Finance Bank, KFin Technologies, MAS Financial Services, MOIL, Motilal Oswal Financial Services, Mphasis, Navin Fluorine International, RPG Life Sciences, Schaeffler India, Sterlite Technologies, Syngene International, Vedanta, Waaree Energies.
Vedanta, Waaree Energies, KFin Technologies, Bajaj Finance and Mphasis will announce the financial results for the fourth quarter of the current financial year on Wednesday. The earnings statements will be disclosed through the stock exchanges.
Vedanta is expected to report profit at Rs 8,066.2 crore and revenue at Rs 50,729.23 crore. Ebitda is likely to be at Rs 18,144.28 crore with margin at 35.80%.
Waaree Energies is expected to report stronger March-quarter earnings, with revenue at Rs 7,587.06 crore. Profit is estimated at Rs 1,115.93 crore. Ebitda is likely to be at Rs 1,721.73 crore with a margin of 22.70%.
The United Arab Emirates has announced it will exit the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC grouping effective May 1, 2026, ending nearly six decades of membership and raising fresh questions over global oil market stability.
The move will cut OPEC's membership to 11 and, according to BBC, it will hit roughly 15% of its production capacity, marking one of the most significant structural shifts in the cartel in recent years.
Analysts pointed to a mix of supply fears and geopolitical tensions, particularly the ongoing US-Iran standoff and disruptions in the Strait of Hormuz, a critical artery for global crude flows.
Oil prices paused after a sharp climb, as markets tracked uncertain diplomatic signals around the Iran conflict and the fate of the Strait of Hormuz — a chokepoint that remains effectively shut. Brent crude hovered near $111 a barrel after gaining roughly 2.8% in the previous session, while West Texas Intermediate (WTI) traded just above $99. The price action reflects a market caught between tentative ceasefire developments and the reality of constrained Middle East supply.
US stocks declined on Tuesday, with the S&P 500 Index falling from its record, led by a slide in semiconductor and other tech companies.
A report about OpenAI missing its internal sales goals fueled worries about artificial intelligence spending, dragging on a swath of exposed shares. Chip stocks, which ended their record winning streak this week, sold off. The Philadelphia Semiconductor Index, known as the SOX, closed down 3.6%, with all of its 30 members in the red.
The S&P 500 Index fell 0.5%, with chips stocks Nvidia Corp., Broadcom Inc. and Micron Technology Inc. among top decliners on a points basis. The tech-heavy Nasdaq 100 Index fell 1%.
India's benchmark equity indices ended lower on Tuesday, after seesawing between gains and losses, as investor sentiment turned cautious on higher oil prices and Middle East tensions. Banks fared the worst during the session. The Nifty 50 settled 97 points or 0.4% lower at 23,995.70. The BSE Sensex shed 416.72 points or 0.5% to close at 76,886.91.
Sector-wise, the market remained weak with selling pressure led by PSU Banks, Banking, Private Banks, and Auto counters, reflecting caution in financial and rate-sensitive stocks. Financial Services, IT, Realty, and FMCG also traded lower, adding to the broader weakness. However, selective buying was visible in Oil & Gas, Metals, Chemicals, and Media, which provided some support to the market. Overall sentiment stayed subdued, with weakness largely concentrated in banking and auto sectors.
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