Stock Market Live Updates | Sensex Jumps Over 500 Points as Nifty Tops 24,340 on Global Rally

Equitas Small Finance Bank reported a 26.7% jump in gross advances and over 10% growth in deposits for the first quarter. However, its CASA ratio slipped to 25% from 29%, indicating slower growth in low-cost deposits.

Hitachi Energy India fell nearly 7%, extending losses for a fourth straight session. Despite the correction, the stock remains almost 96% above its 52-week low, reflecting its strong long-term performance despite recent profit-booking.

Kusumgar fixed its IPO price band at Rs. 398–419 per share, valuing the company at around Rs. 4,400 crore. The public issue consists entirely of an offer for sale by promoters, with investors now awaiting subscription details and listing timelines.

Nomura retained a 'Neutral' rating on Bank of Baroda, with a target price of Rs. 300. The brokerage expects the bank's $600 million settlement to impact Q1FY27 earnings, but believes that avoiding prolonged litigation removes uncertainty without admitting wrongdoing.

Citi maintained its 'Sell' rating on Punjab National Bank with a target price of Rs. 103. While loan growth matched guidance, weaker deposit growth remained a concern. Stable margins, low credit costs, and additional provisioning are expected to support earnings despite subdued profitability.

The Nifty PSU Bank index declined 0.7%, led by Union Bank of India, which fell over 6%. Bank of Baroda, Punjab National Bank, Bank of Maharashtra, Indian Bank, and SBI also traded lower, making PSU banking the weakest-performing sector during early trade.

The Indian rupee appreciated by 14 paise to trade at 95.25 against the US dollar, compared with the previous close of 95.39. The stronger currency reflected improved market sentiment amid positive global cues and easing pressure on emerging market currencies.

Nestlé India announced a special dividend of Rs. 2 per equity share with a face value of Re 1. The stock traded 0.68% higher at Rs. 1,456.05 after the announcement. It remains 2.84% below its 52-week high of Rs. 1,498.60, with the company's market capitalization standing at Rs. 2.81 lakh crore.

Stocks including Manappuram Finance, Aditya Birla Capital, Aurobindo Pharma, Bosch, Oberoi Realty, and Apollo Hospitals touched fresh 52-week highs. The rally highlighted continued buying interest in financials, pharmaceuticals, healthcare, and real estate despite mixed sectoral performance.