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Indian stock markets, Nifty and Sensex, ended Friday higher. The Reserve Bank of India maintained its policy repo rate at 5.25 percent. Cigarette stocks saw a significant surge following price increases. Global markets retreated, impacted by a Wall Street selloff and AI concerns. Crude oil futures extended losses.
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Morgan Stanley sees Indian equities entering a rare phase that supports a valuation re-rating, driven by policy stimulus, improving earnings, weak foreign positioning and attractive relative valuations. With macro stability improving and growth accelerating, the firm forecasts meaningful upside for the Sensex through 2026 under its base and bull case scenarios.
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Meesho shares have fallen nearly 40% from their peak after Q3 losses widened sharply, slipping below the listing price. Despite near-term margin pressures and concerns over growth sustainability, foreign brokerages UBS and BofA remain constructive, citing strong revenue growth, improving logistics efficiency and long-term user expansion.
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LIC shares surged 4% following a 17% year-on-year profit jump to Rs 12,930 crore in Q3FY26. The insurer also reported a 17% rise in net premium income to Rs 1.26 lakh crore. Bernstein maintained a Market-Perform rating with a Rs 940 target price.
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India's market regulator Sebi is proposing new margin rules for single-stock derivatives. The changes will affect trading strategies involving different expiry dates. Specifically, benefits from offsetting positions will not be available on the day a contract expires. This move aims to reduce risks for traders and trading members.
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