Nifty 50

Market Chatter: Novo Nordisk India Sales Jump 40% in April After Wegovy, Ozempic Price Cuts

Novo Nordisk's diabetes and obesity drug sales recorded a sharp rise in India sales in April after it reduced prices of Wegovy and Ozempic to counter growing competition from generic semaglutide therapies, Bloomberg News reported Friday, citing Pharmarack data.Sales of Wegovy, Ozempic and partner-branded products climbed 40% monthly to 32,000 units in April, which was the first full month since the Danish pharmaceutical group lowered starter-dose prices by up to 48%, the report noted.India's overall GLP-1 market expanded 56% month over month in April to 414,000 units, driven by low-cost generic semaglutide products, the report noted. Eli Lilly remained the country's top-selling GLP-1 drugmaker.Novo Nordisk did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Indian Equities Fall on Friday as Middle East Tensions Weigh on Sentiment

Indian benchmark indices ended lower on Friday as renewed geopolitical tensions in the Middle East and selling in banking stocks weighed on the market.The BSE Sensex fell 516.33 points, or 0.7%, to close at 77,328.19, while the NSE Nifty 50 declined 150.50 points, or 0.6%, to settle at 24,176.15.Sentiment remained cautious after reports of fresh clashes between U.S. and Iranian forces near the Strait of Hormuz. Investors also tracked developments around the proposed US-Iran peace deal. Iran reportedly said it is still reviewing America's latest proposal.Among stocks, State Bank of India (NSE:SBIN, BOM:500112) dropped 7% after reporting a marginal rise in consolidated Q4 profit to 196.4 billion rupees from 195.0 billion rupees a year earlier. Earnings per share slipped to 21.28 rupees from 21.96 rupees despite higher interest income.RailTel Corp. of India (NSE:RAILTEL, BOM:543265) fell 2% despite securing an order of 249.1 million rupees from The New India Assurance Company for an AI and machine learning-based fraud monitoring solution.

Indian Equities End Flat on Thursday as Earnings Support Offsets Weakness

Indian benchmark indices ended largely unchanged on Thursday as gains driven by earnings-related buying offset broader market weakness.The BSE Sensex fell 114.00 points, or 0.2%, to close at 77,844.52, while the NSE Nifty 50 slipped 4.30 points, or 0.02%, to settle at 24,326.65.Expectations of easing tensions between the US and Iran further supported investor sentiment. Tehran is reportedly reviewing the latest U.S. proposals aimed at ending the conflict.In corporate developments, Bharat Forge (NSE:BHARATFORG, BOM:500493) reported a decline in consolidated profit in fiscal Q4 to 2.33 billion rupees from 2.83 billion rupees a year earlier. Revenue from operations, however, rose to 20.3 billion rupees from 17.0 billion rupees.Larsen & Toubro (NSE:LT, BOM:500510) gained after its buildings and factories business secured three large orders from a real estate client for projects across three states, according to a filing. The company classifies large orders in the range of 25 billion rupees to 50 billion rupees.

Market Chatter: India, Vietnam Target $25 Billion Bilateral Trade by 2030

India and Vietnam are looking to increase bilateral trade to $25 billion by 2030, The Star reported Wednesday, citing Indian Prime Minister Narendra Modi.The announcement came after discussions in Delhi between Modi and Vietnamese President To Lam. The talks focused on increasing cooperation in defense, security, education, digital payment systems, and rare earth minerals.The value of trade between the two countries has doubled over the past decade to reach $16 billion, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Indian Equities Jump on Wednesday as US-Iran Deal Hopes Lift Sentiment

Indian benchmark indices ended sharply higher on Wednesday as reports of a possible U.S.-Iran deal supported global risk sentiment.The BSE Sensex rose 940.73 points, or 1.22%, to close at 77,958.52, while the NSE Nifty 50 gained 298.15 points, or 1.24%, to settle at 24,330.95.Markets advanced on expectations that the U.S. and Iran may be close to resolving their conflict, which had pushed energy prices higher in recent sessions. Hopes of easing geopolitical risks supported sentiment and helped drive broad-based buying.In economic news, Services activity in Indian strengthened in April, with the HSBC India Services PMI rising to 58.8 from 57.5, supported by firm domestic demand and e-commerce growth. New orders saw the fastest expansion in five months, aided by pricing strategies and demand for logistics and relocation services. However, export growth slowed to a five-month low amid Middle East tensions and weak tourism.In earnings news, Aditya Birla Real Estate (NSE:ABREL, BOM:500040) gained nearly 5% after reporting a profit of 108.4 million rupees in Q4, compared with a loss of 1.31 billion rupees a year earlier, according to a filing. Revenue from operations declined to 981.9 million rupees from 4.08 billion rupees.Zydus Lifesciences (NSE:ZYDUSLIFE, BOM:532321) rose over 3% after receiving seven observations from the US FDA following an inspection of its Ahmedabad facility, according to a Wednesday filing.

India's Services Activity Accelerates in April

The seasonally adjusted HSBC India Services Purchasing Managers Index (PMI) Business Activity Index rose to 58.8 in April from 57.5 in March, as stronger domestic demand and higher e-commerce activity supported growth.A shift from international to domestic suppliers amid the Middle East conflict also boosted transport services.New orders increased at the fastest pace in five months. Firms reported gains from competitive pricing, rising e-commerce demand, and strong interest in relocation and logistics services.Exports growth slowed to a five-month low, as the war in the Middle East and weak inbound tourism weighed on international demand. The New Export Business Index fell sharply and recorded the second-lowest reading in over a year.Consumer Services led the expansion in output and new orders, followed by Transport and Information & Communication."Activity and new orders strengthened, even as new export orders eased, suggesting that demand is rotating from overseas markets to domestic consumers amid the Middle East conflict," Chief India Economist at HSBC, Pranjul Bhandari, said. "Input cost inflation moderated but remained elevated, while output price inflation stayed subdued, indicating that some firms are absorbing higher costs rather than passing them on."The HSBC India Composite PMI Output Index, which covers both manufacturing and services, rose to 58.2 in April from 57.0 in March.

Indian Equities Slip on Tuesday as Geopolitical Tensions, Profit Booking Weigh

Indian benchmark indices ended lower on Tuesday as profit booking in financial heavyweights and renewed U.S.-Iran tensions weighed on sentiment.The BSE Sensex fell 251.61 points, or 0.3%, to close at 77,017.79, while the NSE Nifty 50 declined 86.50 points, or 0.4%, to settle at 24,032.80.Markets remained volatile through the session amid weak global cues, elevated crude oil prices, and continued uncertainty around potential U.S.-Iran talks. Investors tracked the latest set of March-quarter earnings.Among stocks, Mahindra & Mahindra (NSE:M&M, BOM:500520) gained over 3% after reporting a rise in consolidated profit to 46.7 billion rupees in fiscal Q4 from 33.0 billion rupees a year earlier. Revenue from operations increased to 549.8 billion rupees from 426.0 billion rupees.Force Motors (NSE:FORCEMOT, BOM:500033) fell nearly 2% after reporting a 4.3% year-on-year decline in total vehicle sales to 3,113 units in April.

Indian Equities Gain on Monday on Election Trends, Earnings Support

Indian benchmark indices ended higher on Monday, supported by buying in heavyweight stocks, improving earnings outlook, and optimism around election trends.The BSE Sensex rose 355.90 points, or 0.5%, to close at 77,269.40, while the NSE Nifty 50 gained 121.75 points, or also 0.5%, to settle at 24,119.30.Sentiment improved as investors tracked early trends from Assembly Elections across key states of India. Expectations of political stability in the country and continuity in economic policies supported the market.Hopes of progress in U.S.-Iran peace talks also contributed to the positive tone of the markets. Iran has reportedly submitted a 14-point proposal to Pakistan to end the conflict with U.S. on all fronts.Among stocks, Bharat Heavy Electricals (NSE:BHEL, BOM:500103) surged 7% after reporting a sharp rise in consolidated profit to 12.9 billion rupees in Q4 from 5.04 billion rupees a year earlier, according to a Monday filing. Revenue from operations increased to 123.1 billion rupees from 89.9 billion rupees.HFCL (NSE:HFCL, BOM:500183) gained nearly 9% after the company and its subsidiary secured orders worth 842.3 million rupees for supply of optical fiber cables, according to a filing.Bajaj Auto (NSE:BAJAJ-AUTO, BOM:532977) rose over 1% after total vehicle sales jumped 40% year-on-year in April to 513,792 units, according to a Monday filing.

India's Manufacturing Activity Quickens Pace in April; Growth Remains Weak

India's manufacturing activity gathered pace in April, with the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index rising to 54.7 in April from 53.9 in March, according to data released by S&P Global on Monday.Manufacturing activity was driven by strong exports, with only mild recoveries in new business intake and production among Indian manufacturers. The rates of increase were still the second-weakest since 2022.Input costs and output charges rose at the fastest rates in 44 and six months, respectively, putting pressure on manufacturing growth."Survey participants indicated that advertising and demand resilience supported sales and production, but that growth was hampered by competitive conditions, the war in the Middle East, and a reluctance among clients to approve pending quotes," the report said.The bright spot in the scenario was the sharp expansion in export orders, which hit a seven-month high, buoyed by higher demand from clients in countries, including Australia, France, Japan, Kenya, mainland China, Saudi Arabia, the UAE, and the UK."Spillovers from the Middle East conflict are becoming more evident, particularly through inflation: input costs increased at the fastest pace since August 2022, and output prices rose at the quickest rate in six months," Pranjul Bhandari, Chief India Economist at HSBC, said. "Even so, output, new orders (including exports), and employment all grew moderately, pointing to continued resilience in India's manufacturing sector".Even as outstanding business volumes saw only a marginal rise, the rate of job creation was the strongest in ten months.The overall level of positive sentiment among manufacturers slipped since March; however, it was the second-highest since November 2024, on the hopes that marketing efforts will yield results and that pending projects will be approved.

ADB Commits $70 Billion Investment in Asia Through 20235 to Boost Energy, Digital Infrastructure

The Asian Development Bank will inject $70 billion through 2035 to expand energy and digital infrastructure across the Asia-Pacific, with a focus on cross-border electricity trade and broader internet access.In the recent report on Monday, ADB President Masato Kanda said stronger regional connectivity will help lower costs and support growth. The bank plans to mobilize $50 billion under its Pan-Asia Power Grid Initiative to link national grids, scale up renewable energy use, and build transmission lines, substations and storage.A further $20 billion will go towards the Asia-Pacific Digital Highway, funding fibre networks, data centres and other digital systems. By 2035, the projects aim to connect 200 million people to power, widen broadband access, and generate jobs across the region, the report said.

Correction: Indian Finance Companies Have Ample Buffers Against Oil Shock, S&P Says

(Corrects to 'fincos' in first and second paragraphs)S&P Global Ratings expects its rated Indian finance companies (fincos) to have ample capital and earnings cushion to mitigate the effects of the oil shock, according to a recent release.Indian fincos' regulatory capital adequacy would endure even a doubling of nonperforming loans, according to S&P credit analyst Greta Chugh.However, two companies would observe significant declines and face downgrades on S&P's risk-adjusted capital basis, the analyst said.Earnings would also suffer under sharply declining asset quality, Chugh said.The rating agency's risk assessment for the sector or some companies could erode if asset quality risks are structural rather than a one-off shock.S&P does not forecast a prolonged oil shock or a major constraint on India's economic growth, but a downward scenario of a lingering shock would hit growth and employment as well as squeeze fincos' credit costs and profitability.Household repayment capacity could gradually decline amid higher inflation and less disposable income, S&P said.Stress will likely first hit small-ticket unsecured segments, commercial vehicle loans, and Microfinance, with gradual spillover effects on secured products such as vehicle loans and affordable housing, Chugh said.

Indian Finance Companies Have Ample Buffers Against Oil Shock, S&P Says

S&P Global Ratings expects its rated Indian finance companies (finks) to have ample capital and earnings cushion to mitigate the effects of the oil shock, according to a recent release.Indian finches' regulatory capital adequacy would endure even a doubling of nonperforming loans, according to S&P credit analyst Greta Chugh.However, two companies would observe significant declines and face downgrades on S&P's risk-adjusted capital basis, the analyst said.Earnings would also suffer under sharply declining asset quality, Chugh said.The rating agency's risk assessment for the sector or some companies could erode if asset quality risks are structural rather than a one-off shock.S&P does not forecast a prolonged oil shock or a major constraint on India's economic growth, but a downward scenario of a lingering shock would hit growth and employment as well as squeeze fincos' credit costs and profitability.Household repayment capacity could gradually decline amid higher inflation and less disposable income, S&P said.Stress will likely first hit small-ticket unsecured segments, commercial vehicle loans, and Microfinance, with gradual spillover effects on secured products such as vehicle loans and affordable housing, Chugh said.

Indian Indices Fall on Thursday as Crude Surge, Global Cues Weigh

Indian equities ended lower on Thursday as a broad-based selloff, rising crude oil prices and weak global cues weighed on sentiment.Continued foreign outflows also added pressure on the benchmarks.The BSE Sensex fell 582.86 points, or 0.8%, to close at 76,913.50, while the NSE Nifty declined 180.10 points, or 0.7%, to 23,997.55.Brent crude rose about 5% to $124 per barrel, raising concerns over inflation and growth for India, a major oil importer. The spike followed discussions by U.S. President Donald Trump with oil companies over potential supply disruptions linked to the prolonged blockade of Iranian ports.In corporate developments, Hindustan Unilever (NSE:HINDUNILVR, BOM:500696) fell nearly 3% even as it reported an increase in consolidated profit rose to 29.9 billion Indian rupees. Revenue from operations also increased to 161.7 billion Indian rupees from 149.6 billion rupees a year ago.Sun Pharma Advanced Research (NSE:SPARC, BOM:532872) declined about 4% after announcing the sale of a U.S. FDA-granted priority review voucher for $195 million. The proceeds are expected to support pipeline development and innovation strategy, the company said.

Middle East War Poses Greatest Credit Risk for Asia-Pacific's Financial Institutions, S&P Says

The Middle East war's spillover effects serve as the largest credit risk for Asia-Pacific financial institutions, S&P Global Ratings said in a Thursday release.The region's banks are not directly exposed to the Middle East, while indirect exposure is manageable, S&P Asia-Pacific sector lead for financial institutions Gavin Gunning said.Lenders also have ample buffers to absorb linked constraints at current rating levels under a scenario of a deal that will open the Strait of Hormuz by the end of May, Gunning said.However, a downside scenario of a prolonged conflict could cause a 25% rise in credit losses for banks, S&P said.This scenario would mean larger increases in credit losses to total loans in Vietnam, Indonesia, and India, the rating agency said.China will account for the largest share in the total forecast credit losses at about $130 billion.Other countries' banking systems will be stronger at current rating levels, given their buffers, S&P said.Nonbank fund finance will remain a talking point, albeit being more muted, especially for US funds amid uncertainties in the software sector, the rating agency said.Al is also a major concern given the diverging impact it has on the ratings of the region's financial institutions in the coming years, according to S&P.

ADB Cuts Economic Growth Projections for Developing Asia Amid Middle East Crisis

The Asian Development Bank sharply downgraded its economic growth forecasts for developing Asia and the Pacific while raising inflation projections, citing prolonged disruptions from the Middle East conflict that are driving up energy prices and tightening financial conditions.The bank now expects regional growth of 4.7% in 2026 and 4.8% in 2027, down from its earlier forecast of 5.1% for both years. Meanwhile, inflation is projected to accelerate to 5.2% this year before slowing to 4.1% in 2027, according to the latest ADB report.ADB said the revisions reflect sustained pressure on oil and gas prices, with crude expected to average about $96 per barrel in 2026, significantly higher than pre-conflict levels, weighing on fuel-importing economies.Under a more severe scenario, growth could ease further to 4.2% this year and 4% next year, while inflation may spike to 7.4% in 2026, the bank added, urging targeted fiscal support and measured monetary responses.

Indian Equities End Higher on Wednesday Amid Positive Fiscal Q4 Earnings

Indian benchmark indices ended higher on Wednesday, supported by positive fiscal Q4 earnings and value buying across select sectors.A large part of intraday gains was, however, trimmed in late trade due to profit booking.The BSE Sensex rose 609.45 points, or 0.8%, to close at 77,496.36, while the NSE Nifty 50 gained 181.95 points, or also 0.8%, to settle at 24,177.65.The market saw early support from selective buying, especially in auto stocks, which helped indices move higher in morning trade. However, the momentum was lost later as investors locked in gains at higher levels.Rising crude oil prices also kept sentiment in check amid concerns about supply disruptions if the Strait of Hormuz remains closed for longer period.Among stocks, Vedanta (NSE:VEDL, BOM:500295) rose nearly 5% after reporting a sharp jump in fiscal Q4 profit to 67.0 billion rupees from 34.8 billion rupees a year earlier.Shelter Pharma (BOM:543963) gained nearly 4% after securing a $144,000 export order for pharmaceutical supplies.

India's Industrial Production Slows to 4.1% in March

India's production growth, measured by the Index of Industrial Production, slowed to 4.1% in March from 5.2% in February, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday.In March 2025, India's IIP growth rate was at 3.9%.The quick estimates of IIP came in at 173.2 in March, up from 166.3 in the same month in 2025.The manufacturing sector, which carries the largest weight in the index, grew at 4.3% in March from 4.0% a year earlier. It was, however, lower than the 5.9% growth in February.Mining output grew 5.5% in March against 1.2% in the corresponding period of the previous year. Electricity production, however, fell to 0.8%, compared with 7.5% in the year-ago period.The indices of industrial production for the mining, manufacturing, and electricity sectors for March stood at 166.8, 169.4, and 221.3, respectively.

India's Industrial Production Shows Moderate Growth of 4.1% in March

Market Chatter: Acko Insurance Eyes Listing in Early 2027, Targets Up to $2.5 Billion in Valuation

Acko Insurance is targeting a listing in early 2027, Reuters reported Monday, citing people familiar with the matter.The Indian insurer is preparing for an IPO and eyeing a valuation of between $2 billion and $2.5 billion, the report said.The company may raise $300 million to $500 million through the offering, which is expected to include a mix of fresh issue and secondary share sales, the report said, citing one of the sources.Acko is likely to confidentially file draft IPO papers with the Securities and Exchange Board of India in the next two to three months, the sources reportedly told Reuters.Morgan Stanley, ICICI Securities and Kotak Mahindra Capital have been appointed to manage the issue, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Indian Equities Slip on Tuesday as Profit Booking in Banking Sector Weighs

Indian benchmark indices ended lower on Tuesday as profit booking in banking heavyweights and mixed global cues weighed on the market.The BSE Sensex fell 416.72 points, or 0.5%, to close at 76,886.91, while the NSE Nifty 50 declined 97.00 points, or 0.4%, to settle at 23,995.70.Sentiment remained fragile amid stalled U.S.-Iran talks, rising crude oil prices, and weakness in the rupee.Investors also stayed cautious ahead of the U.S. Federal Reserve's policy decision, with expectations of unchanged interest rates.Among stocks, Dhanlaxmi Bank (NSE:DHANBANK, BOM:532180) surged 14% after reporting a rise in fiscal Q4 net profit to 434.9 million rupees from 289.8 million rupees a year earlier.HDB Financial Services (NSE:HDBFS, BOM:544429) raised 3.25 billion rupees through the allotment of non-convertible debentures on a private placement basis.