News

Benchmark indices ended lower on Thursday, snapping a five-day gaining streak, with the Sensex declining 931 points to close at 76,632 and the Nifty falling 222 points to settle below the 23,800 mark at 23,775.Selling pressure was led by financial heavyweights, with HDFC Bank and ICICI Bank weighing on the benchmarks. Market breadth remained negative, with the NSE advance-decline ratio at 2:3.The Nifty Bank index underperformed, declining 882 points to end at 54,822, with all constituents closing in the red. However, the midcap index bucked the broader trend, rising 179 points to settle at 56,979.Among sectors, upstream oil companies saw some gains as Brent crude prices hovered near $98 per barrel, while downstream oil firms remained under pressure.On the stock-specific front, Honasa Consumer Ltd rose nearly 5% following a strong Q4 update. Anand Rathi Wealth Ltd gained 4% after its quarterly results, while GM Breweries Ltd slipped 2%.Escorts Kubota Ltd added over 2% after a brokerage upgrade by JPMorgan, and Bosch Ltd gained 3% after announcing the acquisition of Bosch Chassis Systems India.Among other gainers, Bajaj Auto Ltd rose 2% following an upgrade by BofA Securities, while BEML Ltd edged higher after signing an MoU with DMRC for rail and metro project bids. Power equipment stocks also saw gains of up to 5% on positive brokerage commentary.On the downside, Info Edge (India) Ltd declined 3% after its quarterly update, while InterGlobe Aviation Ltd, Jio Financial Services Ltd, Larsen & Toubro Ltd, and Shriram Finance Ltd were among the top Nifty losers.In the IT pack, Tata Consultancy Services Ltd ended over 1% higher ahead of its Q4 earnings.Meanwhile, Bharat Forge Ltd fell 3% after its board approved the restructuring of its German steel forging operations.On the currency front, rupee ended at 92.66/$ against Wednesday’s close of 92.58/$.

The rupee settled at 92.66 against the US dollar, compared to Wednesday’s close of 92.58.

Indian equities closed in the red on Thursday, as the Nifty50 dropped 0.95% or 222.5 points to 23,775.1, and the Sensex slipped 1.2% or 931 points to end at 76,631.65.Jitendra Sriram of Baroda BNP Paribas Mutual Fund said valuations in the market have turned more reasonable, offering some comfort to investors after recent volatility.Speaking on CNBC-TV18, Sriram noted that while valuations have eased, the trajectory of crude oil prices will remain a critical factor influencing market direction going forward.He highlighted that supply chain disruptions, which have been a key concern amid ongoing geopolitical tensions, will take time to fully normalise and could continue to weigh on certain sectors in the near term.On sectoral strategy, Sriram advised caution on defence stocks, particularly where execution challenges persist, suggesting investors remain selective in the space despite broader interest in the theme.

The top losers currently are Jain Resource Recycling (-5% down), CCL Products (-4% down), Vishal Mega Mart (-4% down), Poonawalla Fincorp, CG Consumer, InterGlobe Aviation, and UNO Minda.

The top gainers currently are Ola Electric (20% up), ITI (11% up), Meesho (7% up), Thermax, HFCL, Zen Technologies, Angel One, Anand Rathi Wealth, and Ather Energy. All of the above-mentioned stocks are up over 5% today.

BEML has partnered with Delhi Metro Rail Corporation to jointly bid for rail and metro projects in India and international markets

Oil prices gained amid uncertainty surrounding the US-Iran ceasefire, as concerns over supply disruptions persisted. At 14:40 IST, WTI crude rose to $97.95, up $3.54 or 3.75%, while Brent crude climbed to $98.27, gaining $3.52 or 3.72%. Murban crude advanced to $101.7, up $4.02 or 4.12%, whereas natural gas slipped to $2.719, down $0.005 or 0.18%.

The Nifty VIX index fell over 4% to 21.56 at 14:38 IST, following a sharp decline of more than 20% in the previous session.

CONCOR Says

First Global’s Devina Mehra emphasised that despite the truce, there is still uncertainty in the stock market and that portfolios are still diversified with exposure to industries like banking, pharmaceuticals, and automobiles as well as greater allocation to commodities like metals and oil.

Somil Mehta, Head Retail Research, Mirae Asset Sharekhan

On NTPC

Even as the market continued to trade in a volatile territory, ITI shares soared over 10%.

Somil Mehta, Head Retail Research, Mirae Asset Sharekhan

On defence, IT, Pharma

In pharma, Lupin and Aurobindo Pharma are looking good. In IT, HCLTech and LTM – these two stocks are strong at this point of time and in defence, BDL and Mazagon Dock are looking good.

As the Nifty gives up more of its gains, these are the biggest volume-based movers among Nifty 500 stocks.

The shares of Poonawalla Fincorp fell over 2% after reports suggested that the company is set to launch a QIP of ₹5000 cr at a discount

Datamatics | Launches TruAI Underwriting To aid Insurance Underwriting With Agentic AI

The shares of BPCL have dipped below the ₹300 mark

Ola Electric shares are up 55% in seven trading sessions after falling 85% from their post-listing peak.

In August 2024, Ola Electric shares were first listed on public exchanges. The stock is still down more than 50% from its issue price of ₹76 a share, despite this rebound.

HPCL shares plunged further as the price of Brent rose.

The price of crude standard Brent, jump over 3% to $98

In an effort to improve its capabilities in excitation systems for synchronous machines, Bharat Heavy Electricals Ltd. (BHEL) announced on Thursday, April 9, that it has entered into a technological collaboration agreement (TCA) with South Korea’s E2S Company Ltd.

Iman Nasseri, MD, Middle East Research, FGE NexantECA On CNBC-TV18

BHEL signs tech collaboration agreement with Korea-based E2S Company for excitation systems

The Nifty index has fallen over 200 points as recovery gets sold into.

In line with RBI Payment Vision 2028, Axis Bank joins NPCI Bharat BillPay Banking Connect, extending the interoperable net banking infrastructure to eight banks and more than 4,800 merchants.

NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.