News

Pharma stocks are lower; major stocks are trading with cuts in the range of 3-5%. Sun Pharma is the top Nifty loser

Brent crude rises above $106/bbl after Trump vows to hit Iran ‘very hard’ for next 2-3 weeks, HPCL, BPCL & IOC down over 3% each

On Thursday, April 2, shares of Hindustan Aeronautics Ltd. (HAL) are trading lower after broking firm CLSA lowered their price objective from ₹5,436 to ₹5,175 while reiterating its “Outperform” rating on the stock.

The Unified Payments Interface (UPI) saw record activity in March 2026, with 22.64 billion transactions, the greatest monthly volume to date, according to National Payments Corporation of India, India’s real-time payments network.

With effect from April 1, the Central Board of Direct Taxes (CBDT) has updated the compliance criteria for real estate transactions and introduced new forms for updating PAN details.

IndiGo & SpiceJet shares down nearly 4% each on rising crude prices & negative broking notes from HSBC with target price cuts for both companies.

The marquee Japanese index, the Nikkei 225, is down over 2%

The shares of Capri Global have fallen by over 7%, making it the worst-performing stock among the Nifty 500 stocks.

Market opens lower, tracking global cues, Nifty opens below 22,400

Rupee opens at 93.53/$ vs Tuesday’s close of 94.83/$

Rupee strengthens by ₹1.30 paise against US dollar

Here’s a list of stocks in focus going into trade today

Here’s a list of stocks in focus going into trade today

Here’s a list of stocks in focus going into trade today

Twelve personnel, including senior leader Ashish Parthasarathy, are penalised by HDFC Bank for allegedly misselling Credit Suisse AT1 bonds linked to errors in Dubai net worth verification.

CNBC Access 

The Price of Silver fell in the international market after Trump’s speech.

After Trump’s speech, which saw him continue to vow further escalation, the price of Brent Crude surged beyond 105 per barrel.

Here’s how the global market cues are placed this morning

Here’s how the global market cues are placed this morning

1 – Nomura Downgrades Indian Markets

– Downgrade India to “neutral” from “overweight”

– Nifty target at 24,900 from 29,300 earlier

2 – Primary Trigger Behind Downgrade

Primary trigger behind the downgrade is the possibility of elevated oil / energy / commodity prices due to ongoing conflict in West Asia.

3 – Two Other Emerging Triggers – PART I

– Impact of AI on India’s demographic dividend and structural story

– Too early to draw conclusions but can weigh on sentiment

4 – Two Other Emerging Triggers – PART II

– Domestic equity flows slowing down

– Subdued market returns could moderate domestic participation

5 – Pressure For Valuations

– MSCI India trades at 18.9x forward P/E (55% Premium to Asia Ex-Japan)

– FY27 earnings est. (15-18%) yet to reflect earnings risks

6 – Rationale Behind 24,900 Nifty Target

– Assumption of a 7.5% reduction in earnings estimates

– 10-15% risk to consensus earnings estimates if oil remains elevated

7 – The Struggle To Outperform

– India will struggle to outperform regional peers

– Recommend switch to Korea, MSCI China

– Korea attractive after recent fall

8 – What Happens To Oil

– India vulnerable to sustained high energy prices

– Could take 2-3 months for oil prices to normalize after war ends

9 – The Road Ahead

– Expect returns broadly in-line with overall MSCI Asia ex-Japan index

– Recommend bottom-up approach to stock selection

10 – Key Risks To Estimates

– Faster than expected resolution of geopolitical tensions

– Disappointment in the AI narrative / capex cycle

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