SENSEX, NIFTY UNDER PRESSURE; EUROPEAN MARKET DECLINE

The key domestic indices witnessed selling pressure in afternoon trade, weighed down by uncertainty surrounding the US�Iran ceasefire. Investors are awaiting TCS� quarterly numbers for cues on the IT sector. Volatility remained elevated due to the weekly expiry of Sensex derivatives contracts, adding to the cautious undertone in the market. Nifty traded slipped below 23,800 level.

Metal, pharma and IT shares advanced while banking and consumer durables shares declined.

At 13:25 ST, the barometer index, the S&P BSE Sensex declined 871.12 points or 1.12% to 76,689.79. The Nifty 50 index tumbled 216.80 points or 0.90% to 23,780.00.

In the broader market, the BSE 150 MidCap Index dropped 0.58% and the BSE 250 SmallCap Index fell 0.10%.

The market breadth was positive. On the BSE, 2,195 shares rose and 1,953 shares fell. A total of 168 shares were unchanged.

Gainers & Losers:

Hindalco Industries (up 3.25%), NTPC (up 2.10%), Bharat Electronics (up 2.08%) and Bajaj Auto (up 1.84%) and Dr Reddy�s Laboratories (up 1.78%) were the major Nifty50 gainers.

Larsen & Tourbo (down 2.52%), Interglobe Aviation (Indigo) (down 2.42%), Eternal (down 2.39%), Shriram Finance (down 2.35%) and Jio Financial Services (down 2.15%) were the major Nifty50 losers.

Economy:

The World Bank has raised India�s growth forecast to 6.6% for the current financial year, up from 6.3%, citing strong domestic demand, resilient exports and recent free trade agreements. The report estimates India�s growth accelerated to 7.6% in FY26 from 7.1% in FY25, supported by robust private consumption driven by low inflation and GST rationalisation.

While lower GST rates are expected to support demand in early FY27, elevated global energy prices may pressure household incomes. The World Bank said India will remain the key growth driver for South Asia, with the region�s outlook largely anchored by its performance.

Stocks in Spotlight:

NHPC rose 0.67% after Cabinet Committee on Economic Affairs (CCEA) has approved an investment of Rs 26,069.50 Crore for the construction of Kamala Hydro Electric Project (HEP) in Kamle, Kra Daadi & Kurung Kumey, Arunachal Pradesh.

Info Edge India fell 2.45% after the company reported modest billings growth in its Q4 business update. The standalone billings stood at Rs 1,057.1 crore for the quarter ended 31 March 2026, up 7.4% from Rs 983.8 crore a year ago. The company`s overall billings growth was impacted by transitional factors in 99acres. Recruitment Solutions billings were Rs 810.7 crore (up 9.5% YoY), 99Acres billings were Rs 162.8 crore (up 1.9% YoY), Jeevansathi billings were Rs 38.6 crore (up 20.9% YoY), and Shiksha billings were Rs 45.1 crore (down 12.9% YoY) in Q4 FY26

Premier Energies shed 0.54%. The company said that it has received orders for supply of 1,600 MW solar cells and modules in Q4 FY 2026, which is worth Rs 2,577 crore.

Honasa Consumer jumped 4.46% after the company said that it expects the business to deliver growth in late twenties during Q4 FY26, driven by strong growth across focus categories.

Bosch rallied 3.74% after the company signed share purchase agreement to acquire 100% stake in Bosch Chassis Systems India for total consideration not exceeding Rs 9,068.68 crore. The stake will be acquired from Robert Bosch Investment Nederland B.V (RBNI), Netherlands and Robert Bosch LLC, USA through combination of cash payment and issuance of equity shares on a preferential basis. As part of the transaction, the company will issue 1,230 equity shares at Rs 35,200 per share to each shareholder while remaining consideration will be paid in cash.

Lupin rose 0.39%. The company said that it has received approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application for Dapagliflozin and Metformin Hydrochloride extended-release tablets in the United States.

Global Markets:

Europe and Asia market traded lower on Thursday, as investors fret over news that Iran�s parliamentary speaker charged the U.S. of breaching the terms of the two-week ceasefire agreement.

On Wednesday, U.S. President Donald Trump had announced a �double sided� ceasefire, more than a month into a war with Iran.

The ceasefire was contingent on Iran agreeing to reopen the Strait of Hormuz. Tehran had said that it would stop "defensive� operations if attacks on the country were halted, according to a statement from Iran�s Foreign Minister. Israel has also agreed to the ceasefire, media reports said.

As per reports, Iran�s parliamentary speaker Mohammed Bagher Ghalibaf subsequently accused the U.S. of violating the ceasefire deal. The violations are the denial of the Islamic Republic�s right to enrich uranium and Israel�s continued attacks on Lebanon, a drone�s entry into Iranian airspace, he reportedly said.

Overnight in the U.S., stocks surged after President Donald Trump suspended attacks on Iran for two weeks, pausing a five-week conflict that closed a crucial waterway for global energy supplies.

The Dow Jones Industrial Average ripped 1,325.46 points higher, or 2.85%, to 47,909.92. The S&P 500 popped 2.51% to 6,782.81, and the Nasdaq Composite surged 2.80% to 22,635.