US tech stocks rallied despite the ongoing US–Iran conflict, lifting global sentiment and boosting optimism for Indian IT names. Strong gains in megacap tech, robust US services data, easing inflation, and a sharply weaker rupee — which benefits IT exporters — have improved near-term outlook for Indian IT cos even after last month’s sharp sector correction.
BSE shares are likely to remain in focus after SEBI approved the launch of futures and options contracts on the BSE Sensex Next 30 index. The exchange plans to introduce cash-settled monthly contracts, expanding its derivatives offerings amid recent market volatility and sharp movements in benchmark indices.
Five large-cap stocks, including Swiggy and Fractal Analytics, formed a bullish White Marubozu candlestick pattern on technical charts, signalling strong buying pressure and hinting at a potential near-term uptrend as buyers dominated trading from open to close.
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Bitcoin surged past $73,000, reaching its highest level in a month, driven by ETF inflows and rising open interest. This rally occurred as Wall Street steadied against Middle East conflict, with Ether also experiencing significant gains. The market is shifting from crisis pricing to consolidation, with short sellers being squeezed out.
Liquefied natural gas company shares are falling sharply. Qatar, a major gas supplier to India, has stopped production. This follows an Iranian drone attack on its facility. The West Asia crisis is escalating, impacting global energy markets. India faces significant disruption to its LNG imports. This could lead to higher costs and potential supply cuts for consumers.
Bank of Baroda successfully raised ₹10,000 crore through its inaugural 7-year green infra bond, priced at 7.10%. The issuance, aimed at financing renewable energy and energy-efficient projects, saw strong demand from domestic institutional investors. This marks a significant step for the public sector lender in sustainable financing.
Indian equities are declining amid rising crude oil prices, with Nifty below its trendline and weak RSI momentum. Several stocks like MRF, Shriram Finance, IndiGo, BSE, and Glenmark Pharma are in focus due to significant news. Shriram Finance secured a $76 million co-financing package, while MRF committed Rs 5,300 crore for a new tyre unit.
Buyer interest in Russian oil in India and China is being spurred by concerns over Middle Eastern supply though prices have not yet reacted, five traders told Reuters on Wednesday.
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