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The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 24,365.50. Indian equity benchmarks rallied on Wednesday as positive global cues lifted sentiment and helped markets recover most of Monday's decline. The Nifty 50 rose 1.6% to close above 24,200. The Sensex gained more than 1,200 points, or 1.64%, to end above 78,100.
Meanwhile, Oil prices moved lower in early trade. West Texas Intermediate fell 0.38% to $90.94 a barrel, while Brent crude declined 0.36% to $94.59 a barrel. Elsewhere, Asian markets opened higher after hopes of a U.S.-Iran deal lifted Wall Street benchmarks to fresh record highs. Japan's Nikkei 225 rose 1.28%, while South Korea's Kospi gained 0.71% in early trade.
Wall Street ended mixed on Wednesday, with the S&P 500 and Nasdaq Composite closing at record highs. The S&P 500 rose 0.80% to 7,022.95, crossing the 7,000 mark for the first time. The Nasdaq gained 1.59% to 24,016.02 and extended its winning run to 11 sessions. The Dow Jones fell 72.27 points, or 0.15%, to 48,463.72.
March industrial output rose 5.7%, above expectations of 5.3%.
March retail sales increased 1.7%, below estimates of 2.4%, while January-March fixed investment rose 1.7% versus a 1.9% estimate.
The brokerage expects India’s renewable energy capacity to reach 359 GW by FY30 and sees power demand growth recovering to 6% in FY27 after muted trends in FY25 and FY26.
It named JSW Energy and NTPC as top power picks, while preferring Premier Energies and Emmvee among solar PV players.
The brokerage said the latest agreement is unlikely to have a material near-term earnings impact.
Macquarie also retained an Outperform rating on ICICI Lombard General Insurance with a target price of Rs 2,350, citing focus on profitability, underwriting discipline and support from IFRS and IRDAI regulations.
Electronics exports increased 24.7% to $48 billion, supported by smartphone shipments.
The data shows imports continued to exceed exports despite growth in domestic manufacturing.
Source: PTI
Futures linked to the S&P 500 and Nasdaq 100 were near the flatline.
Dow Jones Industrial Average futures rose 45 points, or 0.1%.
Hong Kong’s Hang Seng index gained 0.72%, extending gains across the region.
The brokerage said confidence in the company’s growth outlook is improving after Zudio remained on track to add 200 stores in FY26 despite lower productivity.
It said key triggers are sustained 18-20% growth and no material impact from cannibalisation or competition. HSBC estimates 4% like-for-like growth for Zudio in FY27.
The brokerage said Q4 capped a strong FY26 and noted recent cement price hikes are positive amid rising cost pressure.
It said increases of Rs 10-12 per bag in trade and Rs 20 per bag in non-trade markets are supportive, with sustainability of hikes remaining the key factor.
The brokerage said valuations appear to have bottomed and the Q4FY26 business update indicates an improvement in domestic operations.
It said the company needs consistent execution and sustained growth recovery for any further re-rating.
It said SIP contributions remained firm, with Q1CY26 flows up 19% from a year earlier despite weak three-year returns for the Nifty 50.
The brokerage said these flows are providing market support, though valuations remain elevated. It also noted some promoters are increasing stakes during the correction.
The brokerage said FY27 profit estimates could be lowered by 2-4% due to lower net interest margins, weaker treasury income and higher credit costs.
It said large private banks face smaller earnings cuts than PSU and smaller private lenders. Its preferred picks are HDFC Bank, Axis Bank, State Bank of India, ICICI Bank and Kotak Mahindra Bank.
India has rejected allegations made in the U.S. Section 301 investigation on structural excess capacity and production in manufacturing sectors.
The government said the notice does not identify any specific Indian policy that harms U.S. commerce and lacks sufficient basis for the claims. India has asked the U.S. Trade Representative to issue a negative determination and terminate the investigation.
RailTel Corp received a letter of intent worth Rs 100 crore from the Divisional Commissioner, Konkan Division.
A letter of intent signals the proposed award of a project or contract, subject to final terms and execution.
Donald Trump said the Iran war is very close to over and added that Tehran wants to reach a peace deal, according to an interview with the U.S. President.
His comments added to market optimism that a diplomatic solution could emerge, supporting global risk sentiment despite earlier setbacks in talks.
Markets tracked diplomatic developments after a report said the U.S. and Iran have an in-principle agreement to extend their two-week ceasefire to allow more talks, according to a report by Associated Press.
The reported move signalled lower near-term geopolitical risk and supported risk appetite across global markets.
GIFT Nifty pointed to a gap-up opening for Indian equities.
The index traded at 24,365.50, above the previous Nifty 50 close of 24,231.30, indicating a stronger start for the benchmark.
Wall Street ended mixed on Wednesday, with the S&P 500 and Nasdaq Composite closing at record highs.
The S&P 500 rose 0.80% to 7,022.95, crossing the 7,000 mark for the first time. The Nasdaq gained 1.59% to 24,016.02 and extended its gains for the eleventh consecutive trading session. The Dow Jones fell 72.27 points, or 0.15%, to 48,463.72.
Oil prices moved lower in early trade. West Texas Intermediate fell 0.38% to $90.94 a barrel, while Brent crude declined 0.36% to $94.59 a barrel.
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