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Benchmark indices ended higher for the third consecutive session, supported by improved sentiment following commentary around the West Asia conflict. The Sensex rose 787 points to close at 74,107, while the Nifty gained 255 points to settle at 22,968, ending near the day’s high.Market breadth remained strong, with the NSE advance-decline ratio at 4:1, indicating broad-based buying. Of the 30 Nifty constituents, 27 stocks closed in the green, led by gains in banking and financial stocks.The Nifty Bank index advanced 1,060 points to 52,609, with all its constituents ending higher. Axis Bank gained 4%, while HDFC Bank rose 3% after reporting better-than-expected Q4 business growth. ICICI Bank, L&T, and Titan were among the other key contributors to the index’s gains.Among individual stocks, Trent was the top Nifty gainer, rising 8% after reporting a 20% increase in March quarter revenue. TVS Motor added 3% after an upgrade by Goldman Sachs, while NMDC gained over 4% following an iron ore price hike.In the broader market, midcaps outperformed, with the Midcap index climbing 816 points to 54,493. L&T Finance Holdings rose 6% after strong growth in retail disbursements, while Senco Gold gained over 11% on the back of robust revenue growth.On the downside, Eicher Motors declined nearly 1%. Chennai Petroleum and MRPL fell up to 5% after oil marketing companies reduced refined product prices.

“I said this the last time as well—if you just look at the valuations of banking, we are getting them at price-to-book levels that are almost close to where they traded during COVID times. I am referring to large private banks. If you look at it, all of them were closer to 1.3 to 1.5 times price-to-book on an FY28 basis. The quarterly updates that came over the weekend were fairly strong, and that is what is starting to reflect in the price movement now. The good part is that, given yields have moved so high, the next move will obviously be a rate hike; there is very little chance of a rate cut now. So we are not going to see incremental NIM pressure. If you have 12–13% loan growth and some sort of positive effect on NIMs, then we can look at 14–15% pre-provisioning profit growth for most private banks. If you then look at price-to-earnings on an FY28 basis, all of them are now close to 10–11 times. For a 13–15% earnings growth profile, I think a 10–11 multiple looks extremely cheap.”

“Whenever we see markets trading below 17 times 18-month forward earnings, that becomes a buy zone for us. The last time we spoke, we were almost close to that 17-times level. Nobody honestly expected that Iran would be able to put up a tough fight for almost 35–36 days. So markets did have a 3–4% further correction. Now incrementally, if you look at it, things on the margin seem to be getting better. If you look at the crude tanker data available on tankertackers.com, when the war had just started, you had almost close to 120 tankers going to and fro through the Strait every day. That number for the entire March was close to two or three, because only Iranian tankers were going through. If you see that number now, as of yesterday, it has inched up to as high as 15. Today, Iraq has officially asked customers to give their oil loading plans. Therefore, my sense is that even if this continues for 10–15 more days, at least you are seeing some sort of de-escalation on the Hormuz side.”

“Iran is willing to let some tankers go through, and that should bring down the geopolitical risk premium. If you look at crude futures also, the current-month NYMEX is today trading at close to $110 per barrel, but if you look at the three-month-out futures, those are now quoting at close to $85 per barrel levels. So even the crude market, in that sense, is sensing that two to three months down the line, the value of crude should be closer to $80–83 rather than what it is today. For us, the bigger problem was currency. We had moved from 89 to 95; given the recent RBI measures, we have pulled back to 93-odd levels. If crude also starts to come down, then I think the macro will start looking good for India again, and we could have a very decent relief rally. The other data point that we have to look at is India’s overall market cap, which today is close to ₹420 lakh crore, out of which FIIs hold close to 16%, which is about ₹65–66 lakh crore. From October 2024 onwards till date, they have sold almost ₹4 lakh crore. That’s almost 6–7% of the assets they have sold in the last 18 months, which has never happened over such a long period earlier. From that perspective also, it seems that FII selling is coming close to exhaustion, in my view. Therefore, as things stabilise, the markets can actually surprise on the upside as well.”

Indian equity markets ended higher on a volatile trading day, with the BSE Sensex jumping 787 points to close at 74,106.85, while the Nifty 50 rose 255 points to settle at 22,968.25.

 Anand Rathi said its board will consider a proposal for a bonus issue on April 9, shares up 2% at ₹461 on the NSE at 15:25 IST.Marine Electricals has secured an order worth ₹115 crore from L&T.Nikhil Ranka of Nuvama Asset Management told CNBC-TV18 that there may not be a significant earnings downgrade if the war ends soon, adding that large private banks are currently trading at attractive valuations with broadly strong quarterly updates, while the IT sector could see a 10–15% tactical rally in the near term.

Here are the top gainers at this hour:

Zydus Wellness is up around 15.4%, Lux Industries has gained about 15.2%, V-Mart Retail is higher by nearly 11.6%, Trent has risen around 7.6%, and Adani Green Energy is up around 7.5%.

Shares of Zydus Wellness surged over 15% to ₹509.70 on the NSE at 15:00 IST, inching closer to its 52-week high of ₹530.90.Shares of HDFC Bank and Axis Bank surged 2.3% and 3.8% to ₹768.75 and ₹1,243.40, respectively, on the NSE at 14:45 IST, hovering near their intraday high levels.The Nifty PSU Bank Index was trading 1.8% higher at 8,283.4 at 14:35 IST, with gains led by Bank of Baroda, Union Bank of India, Bank of Maharashtra, UCO Bank, and Punjab National Bank, which were fuelling the upsurge.

Ajit Mishra, SVP-Research at Religare Broking, and Rajesh Palviya, VP-Tech & Derivative Research at Axis Securities, are two market professionals who have offered stock-specific trading ideas with specified entry levels and risk factors for banking, infrastructure, metals, and exchanges

CNBC-TV18 Access 

Within months of its debut in India, the UAE-based investing platform Valura.ai has amassed a ₹3,000 crore assets pipeline, demonstrating wealth advisers’ and high-net-worth investors’ early interest in global investment products.

The Indian market is trading at the highest point of the day.

Market Watch: Ajit Mishra, SVP-Research, Religare Broking

Speaking at the CII Corporate Governance Summit on Monday, April 6, Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), outlined a number of difficulties that companies and regulators face.

According to media sources, Iran and the United States have received a proposal to stop ongoing hostilities, which could potentially take effect as early as Monday and include the reopening of the Strait of Hormuz.

IndiGo shares recover nearly 4% from intra-day lows, now up over 1% in trade

Nifty recovers nearly 350 pts from intra-day lows, crosses 22,900

Here are the top gainers among the Nifty Bank stocks 

The Nifty bank index has surged over 700 points, and 11 out of the 12 stocks are trading in green

These are the top 5 Nifty 50 gainers.

The Nifty Banking index has also managed to mark a recovery from the day’s low.

The Nifty Index has extended its gains, building upon the recovery from the lows.

Waaree Energies commences operations at 3000 MW per annum capacity factory at Samakhiali, Kutch

HDFC Bank shares rebounded from the lows. Here is why the shares were trading low.

The shares of EIH surged to over 13%, rising over ₹300 mark.

Bharti Airtel | Deployed More Than 4300 New 5G Sites Across UP East In The Last 12 Months

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