Stock Market News Today Live Updates: GIFT Nifty Indicates Positive Open; Brent Crude Set For Worst Week Since June

• Macquarie said India has underperformed Emerging Markets by 50% since 2025 due to persistent foreign selling.
• The brokerage said the building blocks for a near-term reversal are still missing and has moved back to a guarded stance after earlier turning mildly optimistic for 2026.
• It said sustained market outperformance will require an improvement in India’s aggregate earnings profile, with the usual 500 basis point EPS growth premium to Emerging Markets needing to return.

• HSBC has maintained its Hold rating on Delhivery and raised the target price to Rs 500 from Rs 470.
• The brokerage said Delhivery’s share price has remained resilient despite concerns around fuel inflation and demand linked to the Middle East conflict.
• HSBC said domestic pump prices have not risen so far and noted that Delhivery had managed fuel cost spikes in 2020-22. It also said near-term demand remains robust and raised its FY28 EBITDA estimate by 2% on higher Q4 volumes.

• CLSA said it is turning constructive on Indian equities after 18 months, citing improved risk-reward and valuations below long-term averages.

• It raised overweight on financials and cut IT to underweight, indicating a shift in sector preference.

• The brokerage said market sentiment had turned bearish and may have crossed peak stress linked to the Iran conflict.

• It made portfolio changes, adding Varun Beverages, Mahindra & Mahindra and Larsen & Toubro, while exiting ITC, Bajaj Auto and NTPC.

• It said Bajaj Finance offers better risk-reward than IndusInd Bank and prefers Vedanta over Ultratech Cement.

• JPMorgan cut its Nifty 50 base case target to 27,000 from 30,000; bull and bear case targets stand at 30,000 and 20,500.

• It trimmed FY27 earnings estimates across sectors by 2–10% and lowered India GDP growth forecast by 50 basis points.

• The brokerage flagged risks from higher crude, a weaker rupee and foreign investor outflows.

• It expects Q4FY26 Nifty earnings growth at 4% YoY, with margins expanding, but sees pressure building into Q1FY27.

• Jefferies’ Chris Wood said India could benefit on a relative-return basis if AI capital expenditure peaks this year.
• He said India fits the reverse AI trade and added that foreign investors have already sold a large amount of stocks.
• Wood said downside risks remain, including a renewed conflict in Iran and a sudden stop in domestic mutual fund inflows.

• Investec has maintained its Buy rating on TCS and cut the target price to Rs 3,020 from Rs 3,700.
• The brokerage said the quarter was in line on revenue, EBIT margins and earnings, while deal wins remained robust.
• Investec said its EPS estimates remain largely unchanged, but it has cut the price-to-earnings multiple by 20% as it now assumes long-term growth of 5%. It said the risk-reward remains favourable.

• Citi has maintained its Sell rating on TCS with a target price of Rs 2,250.
• The brokerage said Q4 EBIT was in line and expects low single-digit revenue growth to continue.
• Citi said the quarter and management commentary included points supporting both positive and negative views, but it remains cautious due to high competitive intensity, the impact of AI-led productivity in existing business and GCC-related pressure. It said Infosys and HCL are its preferred large-cap picks.

• Jefferies has maintained its Underperform rating on TCS and cut the target price to Rs 2,275 from Rs 2,350.
• The brokerage said Q4 revenue was in line with estimates, while margins missed. It also pointed to weak growth in BFSI and flat year-on-year deal bookings.
• Jefferies said AI-led revenue deflation in application managed services could keep growth under pressure, while margins may remain range-bound without stronger revenue growth. It expects EPS CAGR of 5.5% over FY26 to FY29.

• Tata Consultancy Services reported its first year-on-year decline in US dollar revenue since its 2004 listing. FY26 dollar revenue fell 0.5%, while revenue in constant currency declined 2.4%.
• The company had maintained annual growth even during FY21, when dollar revenue had risen 0.6%. In four of the five years before FY26, growth had already slowed to single digits.
• The FY26 performance was affected by AI-led pricing pressure and one-off costs, including restructuring expenses of Rs 1,388 crore, labour code-related costs of Rs 2,128 crore and legal expenses of Rs 1,010 crore.

• TCS said growth was broad-based across verticals, with strong deal momentum in Q4.

• Annualised AI revenue crossed $2.3 billion, with FY26 marked as a key year for AI scale-up.

• The company said it has completed its restructuring programme and reported no one-off impact in Q4.

• It expects some SG&A costs to remain elevated and remains positive on FY27 and international business.

• The company said it is working with Anthropic and will announce a partnership soon.

• Net profit rose 28.72% QoQ to Rs 13,718 crore, above estimates of Rs 13,430 crore; revenue increased 5.38% to Rs 70,698 crore, also beating estimates.

• Ebit rose 5.8% to Rs 17,870 crore, while margin stood at 25.27%, in line with estimates.

• Deal wins came in at $12 billion versus estimates of $10 billion, with four large clients added.

• Revenue grew 1.2% in constant currency terms in Q4, while FY26 revenue declined 2.4%.

• Annualised AI revenue rose to $2.3 billion from $1.8 billion in Q3.

• Headcount increased by 2,356 after declines over the previous three quarters.

GIFT Nifty traded near 23,915.50, indicating a higher start compared with the previous close of 23,775.10 on the Nifty 50.