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Indian government bonds declined for a third day. Oil prices are rising due to Middle East tensions. This situation, coupled with upcoming bond auctions, is impacting the market. India relies heavily on oil imports, making elevated prices a concern. Overnight index swap rates are also increasing as traders anticipate sustained high oil costs.
HCL Tech shares have plunged sharply after weak Q4 earnings and subdued FY27 guidance, triggering multiple broker downgrades and target cuts. Concerns over slowing growth, reduced discretionary spending, and limited visibility on recovery have weighed on sentiment, with analysts expecting continued pressure on the stock in the near term.
Indian Railways to operate 18,262 summer special train trips during the upcoming peak travel period to improve connectivity and reduce congestion. Currently, 11,878 trips are in the pipeline.
Union Bank of India shares fell sharply after its Q4FY26 results disappointed brokerages despite a rise in net profit. Weak NII, a sharp spike in provisions and margin pressure weighed on sentiment. While asset quality improved, analysts remain cautious, citing elevated credit costs and limited upside in the near term.
Japan’s core inflation slipped below the Bank of Japan’s 2% target for a second straight month in March, as subsidies and easing food prices offset energy pressures. While underlying inflation remains resilient, rising oil costs and geopolitical risks may push prices higher, keeping policymakers cautious on future interest rate decisions.
Dr Reddy’s shares fell after Goldman Sachs and Citigroup turned cautious, citing limited growth visibility, pipeline concerns and valuation risks. Brokerages flagged lower earnings potential amid generics pricing pressure and muted opportunities in semaglutide. Despite earlier optimism, analysts see downside risks persisting in the near term.
JPMorgan downgraded Indian equities to Neutral from Overweight, warning the Nifty could fall to 20,500 in a bear-case scenario, implying a 15% downside. While the long-term outlook remains intact, near-term risks such as elevated valuations, Iran war uncertainty and energy disruptions persist. The brokerage flagged earnings risks, with analysts cutting FY27 estimates and trimming MSCI India EPS growth forecasts.
Axis Bank is expected to report a mixed Q4FY26 performance with muted year-on-year profit growth despite steady loan and deposit expansion. Margins are likely to remain under pressure due to rate transmission, while sequential trends improve. Asset quality and credit costs will remain key monitorables for investors.
US mortgage rates fell for a third straight week, with the 30-year fixed rate easing to 6.23%, its lowest since mid-March. Declining Treasury yields supported the trend, though volatility from inflation and geopolitical risks persists. Despite easing borrowing costs, housing activity remains subdued amid affordability and demand pressures.
Rupee is “undervalued relative to fundamentals”, yet there’s no need to lose sleep over its weakness, says V. Anantha Nageswaran, pointing to strong growth, high forex reserves, and global dollar strength driving the trend.
Indian markets present attractive long-term investment opportunities following recent corrections, according to Nitin Raheja of Julius Baer. He advises staggered investing, highlighting power and energy, PSU banks, insurance, and defence as key sectors. While near-term volatility persists, Raheja believes the earnings outlook remains robust, with potential for a shift into the next financial year.
Intel forecast stronger-than-expected Q2 revenue of $13.8–$14.8 billion, driven by robust demand for AI-focused server chips, with earnings guidance also beating estimates. The upbeat outlook sent shares soaring 19% in extended trading, adding about $64 billion in market value. Under CEO Lip-Bu Tan, the company is pursuing a turnaround strategy involving cost cuts, asset sales, and strategic partnerships.
IDFC First Bank is likely to report a weak Q4FY26 with PAT expected to decline sharply due to a deposit fraud impact, despite steady loan growth and stable margins. Brokerages see NII growth remaining healthy, while asset quality, deposit traction and credit costs will be key factors to watch.
LPG prices in India remained stable on 24 April, despite rising global oil prices. Domestic LPG prices have not changed since a March hike, while commercial LPG saw increases twice. Here's the retail fuel rates in different Indian cites.
India faces a strong El Niño, threatening below-normal rainfall and impacting agriculture. While rural-linked sectors like two-wheelers and FMCG may see a slowdown, demand for thermal power and cooling products is expected to rise. Export-oriented IT and pharma, along with utilities, are likely to remain resilient.
Gold and silver opened lower on MCX amid rising crude oil prices near $110 per barrel, fuelling inflation concerns and rate outlook uncertainty. Geopolitical tensions in the Strait of Hormuz added to volatility. Analysts expect range-bound trading with key support and resistance levels guiding near-term strategy across bullion markets.
Iran detained India bound vessel Epaminondas and took several seafarers in custody including one Indian as the container ship tried to exit Strait of Hormuz. Indian Shipping Ministry issued a statement suggesting that all seafarers in Iran's custody are safe.
Infosys shares fell despite strong Q4FY26 results, as investor sentiment remained cautious. The company reported a 21% YoY rise in net profit to Rs 8,501 crore and a 13.4% increase in revenue to Rs 46,402 crore. Sequentially, profit jumped 28% while revenue saw a modest 2% uptick. Meanwhile, Infosys ADRs also declined 4%, reflecting muted market reaction.
Indian stock markets extended losses for a third consecutive session, with Sensex and Nifty declining due to escalating Iran-US tensions and rising oil prices. Broader markets, however, continued to outperform, while IT stocks like Infosys saw significant drops following weak Q4 earnings. Foreign investors remained net sellers, further weighing on sentiment.
