Israel–Lebanon ceasefire has been extended by 30 days, but there is still no agreement to resume US–Iran talks. Reports suggest that Iran’s negotiation team, led by Mohammad Bagher Ghalibaf, has seen a leadership exit, allegedly under pressure from the Islamic Revolutionary Guard Corps. This points to an intensifying internal power struggle between moderates and hardliners in Iran.
Meanwhile, the US has seized another Iranian oil tanker in the Indian Ocean, pushing crude prices above $106 per barrel. Despite this, global equity markets have not slipped into panic, though Asian markets are trading slightly lower this morning.
GIFT Nifty closed at 24,124.50 on Thursday night
Rose to 24,262 in early trade
Indicates a firm opening for Indian markets
US equities fell as geopolitical tensions persisted:
Dow Jones Industrial Average: down 179.71 points (0.36%) to 49,310.32
S&P 500: down 29.50 points (0.41%) to 7,108.40
Nasdaq Composite: down 219.06 points (0.89%) to 24,438.50
Key laggards:
IBM (-8%)
ServiceNow (-18%)
Microsoft (-4%)
Palantir Technologies (-7%)
Oracle (-6%)
Corporate update:
Meta Platforms plans to cut 10 percent of its workforce (~8,000 jobs) and halt hiring of 6,000 employees to step up investments in AI
--US futures are trading mixed
--Intel surged 20 percent in after-hours trade on strong results and guidance
Nikkei 225: up 0.70 percent
Kospi: down 0.30 percent
Australia: down 0.60 percent
China: down 0.50 percent
Hong Kong: down 0.90 percent
Indian equities declined sharply on Thursday:
Rising crude prices above $105
Continued foreign institutional selling
Weak rupee despite RBI intervention
Lacklustre Q4 earnings
Indices:
BSE Sensex: 77,664 (-1.09%)
Nifty 50: 24,173 (-0.84%)
Nifty Bank: 56,305 (-1.43%)
Broader markets:
Midcap 100: -0.41%
Smallcap 100: -0.67%
Market breadth:
BSE: 1,681 gainers vs 2,602 losers
NSE: 1,246 gainers vs 2,026 losers
FII activity:
Net sellers worth ₹3,254.71 crore
DIIs bought ₹941.35 crore
Major losers:
Auto, realty, banking, financials, IT, metals, oil
Notable decline:
Union Bank of India: down 7.5 percent
Gainers:
Healthcare and pharma stocks
Key movers:
Dr. Reddy’s Laboratories (+8.87%)
Cipla (+5.72%)
Glenmark Pharmaceuticals (+4.82%)
Infosys reported weak Q4 results
Constant currency revenue fell 1.6 percent quarter-on-quarter
Deal wins dropped to $3.2 billion from $4.8 billion
Guidance:
Revenue growth forecast cut to 1.5–3.5 percent
Stock impact:
ADR fell about 4 percent in US trading
Down over 25 percent so far in 2026
JPMorgan Chase downgraded India to “neutral” from “overweight”
Second downgrade within a month
Revised Nifty targets:
Bull case: 30,000
Base case: 27,000
Bear case: 20,500
Reason:
Elevated valuations
Slowing earnings growth
Crude oil:
Brent crude: $105.07 (+3.5%)
Rose to $106.82 in early trade
WTI crude: $97.32
Gold:
Closed at $4,693.80 per ounce (down 1%)
Kerala price: ₹1,13,200 per sovereign (down ₹280)
Silver:
$75.56 → $77.97
US Dollar Index: 98.77 → 98.82
Rupee weakened to 94.11 per dollar
Other currencies:
Euro: 1.1685
Pound: 1.3467
Yen: 159.78 per dollar
Yuan: 6.83 per dollar
US 10-year yield:
4.33 percent
Copper: down 0.05 percent
Aluminium: up 0.10 percent
Rubber (Bangkok): up to $274.50
Coffee: up 4.06 percent
Palm oil: down 1.06 percent
Bitcoin: below $78,500
Ethereum: below $2,335
Solana: below $87
Sensex: 77,664 (-1.09%)
Nifty 50: 24,173 (-0.84%)
Bank Nifty: 56,305 (-1.43%)
Dow Jones: 49,310 (-0.36%)
S&P 500: 7,108 (-0.41%)
Nasdaq: 24,438 (-0.89%)
Dollar: ₹94.11 (+₹0.31)
Gold ($/oz): 4,693.80 (-47.10)
Gold (₹/sovereign): 1,13,200 (-₹280)
Brent crude: $105.07 (+$3.16)