Stock Market News Today Live Updates: Nifty Above 24,500, Sensex Gains Over 500 Points; Nifty IT Index Bucks Sectoral Gains

Welcome to the F&O Hour, where we will bring real-time updates from the futures and options market through the session.

Alongside derivatives moves, we will continue to track all key market-moving news, earnings updates and corporate announcements as they happen.

• Biocon said it has received approval from the Canadian regulator for its denosumab biosimilars, according to exchange filings.
• The approvals cover Bosaya and Vevzuo.
• Denosumab is used in the treatment of osteoporosis.

• E2E Networks was locked in the 5% upper circuit after reporting strong Q4 results and approving a stock split.
• The company posted Q4 revenue of Rs 95.6 crore, up 36.6% quarter-on-quarter. EBITDA rose 46.6% to Rs 58.1 crore, while net profit came in at Rs 6.4 crore versus a loss of Rs 5.7 crore in the previous quarter.
• The board approved a 10:1 stock split, reducing face value from Rs 10 to Rs 1 per share. E2E Networks is backed by Larsen & Toubro, which holds an 18.45% stake.

• Macquarie maintained its Outperform rating on Sun Pharma with a target price of Rs 2,150.
• The brokerage said a tie-up with Organon would be strategically and financially attractive, with earnings accretion expected from the first year.
• Macquarie added that the combined company’s revenue and EBITDA could be nearly double standalone levels, while leverage would remain manageable and cash generation could restore a net cash position in three to four years.

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• Within the IT pack, Wipro and Oracle Financial were the top gainers, rising 0.59% and 0.48% respectively.
• Persistent Systems was the top loser, down 0.74%. Infosys fell 0.53%, while Tech Mahindra declined 0.45%.
• Coforge and HCL Tech also traded lower, falling 0.32% and 0.23% respectively.

• The Nifty Midcap 100 traded higher in early trade and outperformed the benchmark indices.
• The index rose 0.55% to 60,118.50 after touching an intraday high of 60,160.30. It had slipped to a low of 59,895.80 earlier in the session.
• The move indicates continued buying interest in broader market stocks.

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• Indian benchmark indices opened higher, extending gains for a third consecutive trading session.
• The Nifty 50 rose as much as 0.4% to 24,454, while the Sensex gained 339 points, or 0.43%, to 78,860.

The Indian rupee weakened against the US dollar in early trade. The currency fell 0.2% to 93.32 per dollar.

• Indian equities indicated a positive start in pre-open trade.
• The Nifty traded near 24,300, while the Sensex was up 250 points.

• HSBC said hospitals may report a steady Q4FY26, supported by a pick-up in elective procedures.
• The brokerage said investor focus will remain on capex plans and the impact of new units on margins. It expects Apollo Hospitals to sustain healthy trends and remains its preferred pick.
• HSBC maintained Buy ratings on Apollo Hospitals, Max Health, Aster DM, KIMS and Rainbow, while keeping Hold on Global Health and Reduce on Narayana Hrudayalaya.

• Q4 updates were strong for Oberoi Realty, E2E Network and PNB Housing Finance. Muthoot Microfin, Bajaj Finserv, Indosolar and SML Mahindra reported mixed or in-line numbers.
• Stocks with positive triggers include Vedanta after board approval for demerger, PNB Housing after a profit beat, and Oberoi Realty after gross booking value rose 96% year-on-year.
• ONGC and Oil India remain in focus with Brent crude elevated. FACT, RCF and National Fertilizers may react to strong March output data. Other stocks on watch include E2E Network, JSW Steel, Interarch Building, TVS Motor, Hind Copper and Suzlon Energy after corporate announcements.

• Macquarie maintained its Outperform rating on Asian Paints with a target price of Rs 2,900.
• The brokerage said the second round of price hikes takes cumulative increases to around 12% and expects peers to follow, as seen after the earlier hike.
• Macquarie said the latest move supports its view that the sector will pass on input cost pressures through pricing, while any margin pressure is likely to be near term.

• CLSA said Indian midcaps are showing buy signals and are approaching a resistance zone of 60,925 to 61,393.
• The brokerage said a close above this range would indicate a major breakout and open the way for higher levels.
• CLSA added that the NSE Mid Cap Index has already broken out against the Nifty and named BSE, MCX, Apollo Tubes, Dixon and Aurobindo Pharma as mid-cap buy candidates.

• Brokerages increased target prices on Groww after its Q4FY26 results, citing stronger-than-expected performance and steady growth metrics.
• UBS maintained Neutral and raised its target price to Rs 210 from Rs 185. Jefferies retained Buy and increased its target to Rs 225 from Rs 210, while Citi kept Buy and lifted its target to Rs 230.
• Analysts highlighted growth from operating leverage, market share gains, higher revenue from new products, and progress in wealth and product diversification.

• Citi initiated coverage on Anthem Bio with a Buy rating and a target price of Rs 870.
• The brokerage said the company is positioned for faster growth in the CRDMO segment, supported by its integrated multi-modality platform.
• Citi expects strong growth visibility over FY27 and FY28, with support from commercial molecule business growth.

• Nomura said Karnataka’s draft liquor policy is beneficial for premium and above brands, while popular brands may face higher taxes.
• The brokerage said lower taxes in premium slabs support portfolios with stronger premium exposure, including United Spirits.
• Nomura added that popular brands may need price hikes, though price deregulation in the state could help protect margins.

• Markets will track Nifty expiry and the end of the two-week US-Iran ceasefire period for near-term cues.
• Key global data due later in the day includes US retail sales and pending home sales, which may influence global risk sentiment.
• On the earnings front, HCL Tech, Persistent and Nestle are among key companies scheduled to report Q4 results.

• US index futures traded little changed in early trade.
• S&P 500 futures rose 0.1%, while Nasdaq 100 futures added 0.2%. Futures tied to the Dow Jones Industrial Average gained 70 points, or 0.2%.

• US markets closed lower overnight, with the Nasdaq Composite falling 0.26% and ending its longest positive streak since 1992.
• The S&P 500 slipped 0.24%, while the Dow Jones Industrial Average edged down 0.01%.
• Markets weakened after tensions between the US and Iran escalated, with uncertainty also around the ceasefire due to expire this week.

• Indian markets may open higher as investor focus shifts to planned Iran-US talks in Islamabad.
• US futures traded higher on optimism around a ceasefire, while Japan and South Korea markets opened in the green. Oil prices eased ahead of the talks, and major asset classes were largely unchanged.
• Foreign institutional investors turned sellers in the cash market after three sessions of buying. Strong Q4 results from E2E Network and PNB Housing Finance may drive stock-specific action.

• Asian markets traded mixed on Tuesday.
• South Korea’s Kospi rose 1.96%, while Japan’s Nikkei gained 1.04%. Hong Kong’s Hang Seng edged up 0.07%.
• Australia’s ASX 200 fell 0.21%, while Shanghai declined 0.39%.

• Crude oil prices declined after a sharp rise in the previous session.
• West Texas Intermediate futures for May delivery fell 1.51% to $88.26 a barrel, while Brent crude futures for June delivery slipped 0.68% to $94.87 a barrel.
• WTI and Brent had settled 7% and 5% higher on Monday.

• GIFT Nifty traded at 24,412, indicating the early trend for Indian equities.
• On Monday, domestic benchmark indices ended little changed after a volatile session. The Nifty 50 closed at 24,364, while the Sensex ended at 78,520.30.