Indian Shares Extend Gains As Oil Prices Fall To Pre-war Levels

MacroCommodity
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Summary · why it matters

Indian shares extended gains on Thursday as crude oil prices fell to their lowest levels since before the Iran conflict, easing inflation and growth worries. The benchmark BSE Sensex rose 540 points, or 0.7 percent, to 77,529 in early trade, while the broader NSE Nifty index added 153 points, or 0.6 percent, to 24,175. Top gainers included Trent, Adani Ports, ICICI Bank, UltraTech Cement, Hindustan Unilever, SBI, Mahindra & Mahindra, Maruti Suzuki India and Indigo, which rose between 1 and 3 percent. Tata Steel edged up slightly after infusing Rs 1,625 crore into its wholly owned subsidiary T Steel Holding Pte, and Embassy Developments soared nearly 5 percent after announcing a Rs 1,500 crore investment in premium real estate projects in the Lucknow corridor. IRFC fell about 1 percent as the government decided to sell an additional 1 percent stake in the ongoing Offer for Sale, while Raymond dropped 1 percent after denying reports of an imminent buyout of German aerospace components firm Deharde.

Impact on stocks 5

Materials · 1 stocks
Tata Steel Limited
TTST
± MixedCapitalrelevance

Infused Rs 1,625 crore into subsidiary; no clear impact on parent's performance.

Consumer Discretionary · 1 stocks
Digital Finance & Tokenization · 1 stocks
Financials · 1 stocks
Electrification & Mobility · 1 stocks

Off-coverage companies 10

Embassy Developments LimitedPrivate▲ Positive
Capitalrelevance

Announced Rs 1,500 crore investment in premium real estate projects, driving stock up nearly 5%.

Indian Railway Finance CorporationPrivate▼ Negative
Capitalrelevance

Government to sell additional 1% stake in OFS, pressuring stock down about 1%.

Adani Ports and Special Economic Zone LtdPrivate± Mixed
relevance

DehardePrivate± Mixed
relevance

Hindustan Unilever LimitedPrivate± Mixed
relevance

InterGlobe Aviation (IndiGo)Private± Mixed
relevance

Maruti Suzuki IndiaPrivate± Mixed
relevance

T Steel Holding Pte. Ltd.Private± Mixed
relevance

Trent LtdPrivate± Mixed
relevance

UltraTech Cement LimitedPrivate± Mixed
relevance