Market experts say investors who understand which cost structures and demand patterns change after oil cools can still capture the next leg of gains. Read full report here

Stock Market LIVE Updates: India's diversification of energy sources and enhancing access to critical minerals are crucial for the country's economy, but this shift has introduced new challenges, Tata Steel CEO and Managing Director T V Narendran said on Thursday. 

Oil prices gained amid uncertainty surrounding the US-Iran ceasefire, as concerns over supply disruptions persisted.

As of 3:00 PM, the Nifty50 was trading 1.07 per cent or 256.85 points down at 23,741.80, and the Sensex was trading 1.27 per cent or 981.57 points down at 76,581.33.

The Nifty VIX index fell over 4 per cent to 21.56 at 14:38 IST, following a sharp decline of more than 20 per cent in the previous session.

The Nifty50 was trading 1.28 per cent or 306.45 points down at 23,691. The Sensex was trading 1.5 per cent or 1,160 points down at 76,402.06.

Amit Suri, CFP and Director and CEO at AUM Wealth

If I had Rs 100 to invest in a volatile market, I'd put about Rs 50 in equities for long-term growth, Rs 20 in gold as a hedge against uncertainty and market shocks, and Rs 30 in fixed income instruments such as FDs, RDs or debt funds to provide stability and liquidity.

The idea is to strike a balance between growth and protection. Equities help create wealth over the long term, gold tends to perform well during periods of uncertainty or geopolitical stress, while fixed income cushions the portfolio and reduces overall volatility.

That said, there is no one-size-fits-all formula. A fixed allocation can be dangerous if it does not reflect the investor's age, income stability, financial goals, risk appetite and time horizon. A younger investor with a longer horizon may be comfortable allocating more to equities, while someone closer to retirement may prefer a higher share of fixed income and lower-risk assets. The right allocation is the one that allows an investor to stay invested through market ups and downs without losing sleep.

As of 2:00 PM, the Nifty50 was trading 0.92 per cent or 221.75 points down at 23,777.55, and the Sensex was trading 1.14 per cent or 882.32 points down at 76,674.52. 

The price of crude standard Brent, jump over 3 per cent to $98

Markets decline as L&T and IndiGo lead losses; Hindalco and NTPC show gains amid broad selling pressure.

The Thesis

InvestorAi is loading into cyclicals and domestic industrials, betting the crude crash unlocks margin expansion across metals, energy, and auto supply chains. With VIX down 20% and Nifty gapping toward 24,000, the book says the worst of the tariff-and-oil fear cycle is behind us - and it's adding pharma as defensive ballast in case FII selling (₹8,700 Cr net outflows) isn't done.

Where We're Concentrated

Metals and energy dominate - Tata Steel, NALCO, and ONGC form the cyclical core, flanked by auto-industrial names like Motherson Sumi and Bosch. Financials (IIFL Finance, 360 ONE, PNB) round out the book on rate-cut momentum. The thesis breaks if crude reverses above $100 on an Iran ceasefire collapse, or if FIIs accelerate selling through the 24,000 level, turning today's gap-up into a bull trap.

Conviction Picks

Highest Confidence

Delhivery

Logistics margins expand directly with every dollar crude falls; domestic demand recovery amplifies volumes as the consumption cycle turns.

Cyclical Core

Tata Steel

The crude crash relieves energy-input pressure while global risk-on sentiment lifts base metal demand into infrastructure season.

Energy Anchor

ONGC

Strait of Hormuz resolution stabilizes domestic energy pricing; subsidy burden eases as Brent holds below $100.

Defensive Ballast

Sun Pharma

Momentum-confirmed pharma leadership that hedges the portfolio if FII selling resumes - outperforms when the market wobbles.

One Thing to Watch

Brent crude at $100. The Iran ceasefire is a two-week window. If it collapses and crude spikes back above $100, every cyclical in this book reverses. That's the line between a rally and a trap.

As of 1:00 PM, the Nifty50 was trading 0.66 per cent or 159.35 points down at 23,838, and the Sensex was trading 715 points or 0.92 per cent down at 76,847.85.

Dilip Buildcon received an order worth Rs 268 crore for an engineering procurement and construction project. The company was selected as the lowest bidder in a tender floated by Narmada Water Resources Water Supply & Kalpasar Department.

Ashok Leyland shares pull back slightly after a 12% surge, with high trading volume and ongoing market activity.

N ArunaGiri, CEO of TrustLine Holdings

"Will persistent FII sell off lead to prolonged time correction?                                             

Are we in for a prolonged phase of time correction despite the recent ceasefire, particularly in the context of persistent FII selling? This is a very interesting question to explore.

Historically, such phases do occur - typically when valuations are elevated while earnings go through a subdued period. In such instances, markets tend to pause, allowing time for earnings to catch up with valuations. In many ways, this is precisely what we had witnessed (prior to the onset of West Asia conflict) since the peak in September 2024, with markets undergoing nearly 12 to 18 months of time correction.

However, the context is now changing. With improving visibility on earnings recovery and a broad consensus around double-digit earnings growth for FY27, particularly aided by easing geopolitical risks, the probability for a mean reversion in the markets have gone up meaningfully.

Given that markets have already spent considerable time in consolidation (before the conflict), it appears less likely that this time correction will persist deep into FY27. Instead, the setup increasingly points towards a potential breakout - once the dust settles in West Asia - as earnings begin to deliver.

On FII flows, it is important to recognise their inherently cyclical nature. After two consecutive years of outflows, it would not be surprising to see a reversal in trend, with flows turning positive in a meaningful way as the cycle turns. This remains our broad house view on the evolving market dynamics."

As of 12:00 PM, the Nifty50 was trading 0.44 per cent or 105.65 points down at 23,891.70, and the Sensex was trading 0.64 per cent or 499.32 points down at 77,063.58. 

Prashant Mishra, Founder and CEO, Agnam Advisor

The market right now is being driven more by headlines than fundamentals. Geopolitical developments, especially around oil and global risk sentiment, are creating short-term volatility. However, the underlying domestic story for India remains stable, which is why corrections are likely to be sharp but not long-lasting.

Srishti S Anandd, Cofounder and Chief Advisor - Paradigm Realty

"Wealth is increasingly viewed through a multi-dimensional lens by the ultra-high-net-worth individuals, for whom art has firmly established itself alongside premium real estate as a credible asset class. Many of our clients investing in Paradigm's high-value residences in locations such as Pali Hill are also curating art portfolios with equal intent and sophistication. Art from a taxation aspect is a relatively under-recognised advantage in India. As works held for over 36 months qualify as long-term capital assets and are subject to a lower capital gains tax rate compared to standard income slabs, art is recognised as an efficient vehicle for wealth preservation. In combination with structured estate planning using through mechanisms such as trusts and intergenerational transfers, art can play a meaningful role in legacy building. Beyond a tax perspective, fine art has demonstrated the ability to appreciate over the long term, often operating independently of traditional financial market cycles. The emergence of institutional infrastructure, including secure storage and global trading mechanisms, has further added value to the ecosystem. Asset class however requires discernment as liquidity can be limited, valuations are inherently subjective, and provenance must be carefully verified. For seasoned investors, it is precisely this combination of scarcity and expertise that enhances its enduring appeal, much like trophy real estate."

As of 11:00 AM, the Nifty50 was trading 0.69 per cent or 164.55 points down at 23,832.50, and the Sensex was trading 0.87 per cent or 675.62 points down at 76,887.28.

Iran Seeking Tolls In Bitcoin, Yuan From Ships Crossing Strait Of HormuzRegional officials said yuan collections have already begun in some cases, worrying Gulf producers who fear a shift in oil trade influence. Read full report here

Fertiliser stocks surged in trade today following the government's approval of a Rs 41,534 crore fertiliser subsidy to support Kharif 2026 crops.

IT stocks were underperforming the markets.

Iron ore prices slid on Thursday to their lowest in more than a month, weighed down by rising supply and doubts about demand ‌prospects in top consumer China amid shrinking steel margins.

Steel Exchange of India repaid Rs 28 crore debt over the last two quarters. 

TCS's Q4 results are expected to show flat margins and modest revenue growth, driven by currency support and AI advancements.

As of 10 am, the Nifty50 was trading 0.86 per cent or 176.20 points down at 23,791, and the Sensex was trading 1.10 per cent or 849.93 points down at 76,712.97. 

Private consumption growth was particularly robust, supported by low inflation and rationalisation of the Goods and Services Tax. Read full report here

India's securitisation market surged to Rs 2.55 lakh crore in FY 2026, driven by robust NBFC activity amid declining bank participation.

Among the broader markets, Nifty Midcap100, and Nifty Smallcap100 indices traded lower by 0.39 per cent, and 0.15 per cent, respectively.

A high score signals lower risk to lenders, while a low score suggests a borrower may struggle to meet repayment obligations. Read full report here

Gold prices stabilise as investors monitor US-Iran talks and anticipate crucial inflation data impacting interest rate decisions.

The rupee opened at 92.66 against the US dollar versus Wednesday's close of 92.58 a dollar. 

Focus on Fertiliser stocks - Expect positive for fertilizer stocks after the Cabinet approves Rs 41,534 crore Phosphatic and Potassic fertilizers subsidy for kharif 2026 season

Focus on IT stocks - Expect momentum on IT stocks ahead of tech major TCS will announce Q4 results post market today.

Focus on oil marketing, tyre, paints, gold finance, metal and pipe stocks - Expect positive for oil marketing, tyre, paints, gold finance, metal and pipe stocks due to brent crude declined 13% to below $100/bbl

Focus on banking, housing finance and NBFC stocks - expect positive momentum on banking, housing finance and NBFC stocks after RBI kept the policy repo rate unchanged at 5.25 per cent and maintain neutral stance

Focus on oil marketing stocks - Cabinet Approves Rs 1.74 Lakh Crore For HPCL Rajasthan Refinery, Jaipur Metro And Hydro Projects

Focus on Hydro stocks - Expect positive for hydropower stocks after Cabinet approved 1720MW hydro-electric projects at Arunachal Pradesh

Domestic equities are likely to open slightly lower, tracking a weak start across Asian markets and a decline in US index futures. Sentiment has been weighed down after Iran accused the US of violating a two-week ceasefire following an attack in Lebanon, sparking renewed concerns about escalating tensions and potential disruptions to global energy supplies. As a result, Brent crude has risen over 3% to move above $97 per barrel. Meanwhile, GIFT Nifty is down around 70 points, or 0.3%, indicating a subdued start. Expect heightened intraday volatility, with market direction closely tied to movements in crude oil prices. On the domestic front, the Q4 earnings season kicks off today, with IT major TCS set to announce its results after market hours. Despite the cautious opening, overall sentiment remains somewhat supportive. Brent crude is still below the $100 mark, the U.S. markets rallied up to 3% overnight, the RBI kept interest rates unchanged at 5.25%, and the World Bank raised India's FY27 growth forecast to 6.6% from 6.3%, even factoring in the West Asia conflict. However, some profit booking cannot be ruled out, especially after the Nifty's sharp rally of nearly 10% over the past five sessions from its recent low of 22,182. Global cues remain positive, overnight U.S. and European markets surged up to 4% after President Donald Trump paused military action against Iran for two weeks. However, some Federal Reserve officials have maintained a cautious tone, highlighting concerns over persistent inflation as reflected in recent meeting minutes.

The total market capitalisation of all BSE Sensex companies stood at Rs 4,45,51,401.85 at the close on Wednesday.