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The GIFT Nifty traded near 24,080 level, signalling a potential higher open for the Nifty 50 that closed 0.4% lower at 23,995.70 in the previous session.
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. Markets opened lower in Australia and South Korea, while Japan was closed for a public holiday. Sentiment toward technology stocks showed signs of stabilising. The MSCI AC Asia Pacific index was flat.
South Korea's Kospi recovered opening losses to trade 0.2% higher, just a few points below the record level reached in the previous session. Hong Kong's Hang Seng index futures stood at 25,661, compared with the index's last close of 25,679.78.
Brent crude opened down 0.5% to $110.75 a barrel, set to snap seven days of gains. WTI crude futures held above $99 per barrel on Wednesday after gaining more than 3% in the prior session.
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%. Overnight in New York, the S&P 500 fell 0.49% to close at 7,138.80, while the tech-heavy Nasdaq Composite shed 0.9%. The Dow Jones Industrial Average slid 25.86 points, or 0.05%.
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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