Global indicators pointed to a subdued start for Indian equities on Thursday, with Gift Nifty trading 89.50 points, or 0.37%, lower at 24,166.50 around 7:45 a.m.
Uncertainty persisted across global equity markets amid a sharp rise in crude oil prices. Brent crude for June delivery rose approximately 1.96% to $120 per barrel, marking its highest level since 2022, while U.S. West Texas Intermediate (WTI) approached $107 per barrel. The increase in crude prices followed directives by Donald Trump regarding preparations for an extended blockade against Iran, contributing to geopolitical tensions and raising concerns over higher energy costs and inflationary pressures.
U.S. equity markets closed with a mixed trend on Wednesday as investors tracked rising oil prices, the Federal Reserve’s interest rate stance, and quarterly earnings from major companies. U.S. equity index futures showed marginal gains, indicating the absence of a uniformly negative sentiment.
In India, several companies are scheduled to announce their fourth-quarter (Q4) results, including Hindustan Unilever, Bajaj Finserv, Adani Ports and Special Economic Zone, ACC Limited, and IDBI Bank.
Among reported earnings, Bajaj Finance posted a profit of ₹5,553 crore, up 22%. Vedanta Limited reported an 89% increase in net profit to ₹9,352 crore, alongside record revenue. IIFL Finance reported a profit of ₹586.8 crore, reflecting a 182% increase. Waaree Energies also reported its results and announced a dividend.
On the other hand, RPG Life Sciences reported a 74% decline in profit. Fino Payments Bank reported a profit decline of over 70%, while Force Motors also recorded a decrease in profit.
Larsen & Toubro announced a transaction related to the Hyderabad Metro, stating it will raise approximately ₹1,461 crore through the sale of a stake in its subsidiary, a move aimed at strengthening its balance sheet.
