Market News Today
Short, clear stories on what's moving Indian markets: IPOs, stocks, commodities, crypto and more.
City Union Bank Q4 Profit Jumps 25% to ₹360 Crore, Opens 1000th Branch in Kumbakonam
Private sector lender City Union Bank (CUB) reported a strong 25% year-on-year rise in Q4 FY26 net profit to ₹360 crore, compared with ₹288 crore in the same quarter last year. This marks one of the bank’s strongest quarterly performances in recent times.
ONGC Approves New JV With MRPL & OPaL to Boost Petrochemicals Marketing
State-run energy giant Oil and Natural Gas Corporation has approved the formation of a new integrated petrochemicals marketing and trading joint venture with Mangalore Refinery and Petrochemicals Limited and ONGC Petro additions Limited. The proposed shareholding structure will be 50:25:25, with ONG...
Markets Rebound on April 28: Sensex Jumps 600+ Points, Nifty Holds Above 24,000
Indian stock markets staged a strong rebound on 28 April 2026, snapping the recent losing streak as both benchmark indices closed firmly in the green. The Sensex surged over 600 points, while the Nifty reclaimed and held above the 24,000 mark, reflecting improved investor sentiment.
IPO-Bound PhonePe Crosses 50 Million Registered Merchants Across India
India’s leading digital payments platform PhonePe has crossed 50 million lifetime registered merchants, marking a major milestone ahead of its expected IPO journey. The company said its merchant network now covers more than 98% of India’s postal codes, including deep penetration into small towns and...
India’s Heatwave Triggers Fresh Inflation Risk After Oil Surge, RBI May Face Pressure
India is facing a fresh inflation challenge as the ongoing severe heatwave and below-normal rainfall forecast threaten food prices just after the recent crude oil surge. Temperatures in parts of North India have touched 47°C, increasing power demand and raising concerns over crop output ahead of the...
Snabbit Raises $56 Million in Fresh Funding, Valuation Jumps to $350 Million
Instant home services startup Snabbit has raised $56 million in a fresh funding round, led by Mirae Asset Venture Investments and Susquehanna (SIG), with participation from existing investors as the quick home services race intensifies in India.
Sensex Recovers Sharply From Day’s Low, Nifty Reclaims 24,050 Amid Dip Buying and Banking Support
Indian markets staged a solid intraday recovery on 28 April 2026, as the Sensex bounced nearly 450 points from the day’s low and the Nifty moved back above 24,050–24,150 levels after a weak opening. Early losses were triggered by elevated crude oil prices and cautious global sentiment.
Tata Trusts May Avoid Trustee Reappointments Despite Maharashtra Ordinance, Governance Debate Intensifies
In a major corporate governance development, Tata Trusts has taken a preliminary legal view that its existing permanent trustees may not need fresh reappointment for fixed terms, despite the Maharashtra government’s recent ordinance on trustee tenure.
India–New Zealand Sign Landmark Free Trade Agreement, Paving Way for Lower Tariffs and Major Investment Boost
India and New Zealand have signed a historic Free Trade Agreement (FTA), described as a “once-in-a-generation” trade pact, marking a significant milestone in bilateral economic relations. The agreement aims to reduce tariffs, improve market access, and strengthen trade and investment flows between t...
Axis Bank Q4 Miss Hits Markets, Earnings Season & Global Tensions Keep Dalal Street Volatile
Indian stock market mein 27 April ko mixed sentiment dekhne ko mila, jahan ek taraf earnings season ne volatility badhayi, wahi dusri taraf global cues—khaaskar US-Iran tensions—ne investor sentiment ko cautious rakha.
ACKO IPO Big Update: Digital Insurance Unicorn Targets $2–2.5 Billion Valuation, Top Bankers Appointed
Digital insurance platform ACKO has accelerated its IPO preparations by appointing investment bankers for its proposed public issue. According to recent reports, the company is targeting a valuation of $2 billion to $2.5 billion for its market debut.
India’s Top 5 IT Firms Cut Nearly 7,000 Jobs in FY26 as AI and Slow Demand Reshape Hiring
India’s five largest IT services companies — TCS, Infosys, Wipro, HCLTech, and Tech Mahindra — together reduced their workforce by nearly 7,000 employees in FY26, marking a clear reversal from last year’s modest hiring recovery.
US Hits China Refinery & 40 Shippers With Iran Oil Sanctions, Global Oil Tensions Rise
In a major geopolitical escalation, the United States has imposed sanctions on a China-based refinery and around 40 shipping companies and vessels accused of transporting Iranian crude oil. The key target is Hengli Petrochemical’s Dalian refinery, a major independent “teapot” refinery in China.
₹2.5 Lakh Crore Wiped Out: Nifty IT Records Worst Week Since 2020
India’s IT sector witnessed a brutal sell-off this week, with the Nifty IT index falling nearly 10%, marking its worst weekly performance since the March 2020 Covid crash. The sharp decline erased around ₹2.5 lakh crore in market capitalisation, wiping out nearly five weeks of gains.
RBI Cancels Paytm Payments Bank Licence, Digital Banking Sector Faces Major Shake-Up
The Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank, marking a significant development in India’s digital financial ecosystem. The decision comes after the regulator identified multiple compliance lapses and regulatory concerns during its review process.
JP Morgan Turns Bearish on India, Flags Earnings Risks and Valuation Pressure
Global brokerage JP Morgan has turned cautious on Indian equities, downgrading its stance to neutral and warning that earnings risks are rising. The brokerage cited high valuations, oil-led inflation risks, weak rupee, and slower earnings growth as key concerns for the market.
Fuel Price Fears Push EV Demand Higher EV Share in New Car Sales Rises to 5.1%
India’s electric vehicle market saw a strong jump in March 2026 as rising fuel price concerns pushed more buyers towards EVs. According to FADA data from the Vahan portal, EVs accounted for 5.1% of new car sales in March, up sharply from 3.5% in February.
JPMorgan Downgrades India to Neutral, Cuts 2026-End Nifty Target to 27,000
Global brokerage JPMorgan has downgraded Indian equities from “Overweight” to “Neutral” and reduced its 2026 year-end Nifty target by 10% to 27,000. The downgrade comes amid concerns over rising crude oil prices, stretched valuations, and pressure on corporate earnings.