Latest Stock Market News

Nifty correction: Nifty has fallen 16% from its all-time highs, marking its second-largest correction since the Covid crash. Axis Securities sees an opportunity for long-term investments, citing historical trends and technical indicators that suggest the market is nearing a medium-term bottom.

Sales and profits slipped for Target during the crucial holiday quarter as customers held back on spending and the company said there will be "meaningful pressure" on its profits to start the year because of tariffs and other costs.

Indian markets ended lower for the third straight session on Tuesday. Sensex fell nearly 100 points, and Nifty50 closed below 22,100. Buying was seen in oil & gas and PSU stocks, while FMCG and auto stocks declined. Bajaj Auto hit a 52-week low.

Jio Financial Services on Tuesday said it will acquire SBI s entire stake in Jio Payments Bank for Rs 104.54 crore. Jio Financial currently holds 82.17 per cent stake in Jio Payments Bank Limited (JPBL), a joint venture of the Company and State Bank of India (SBI).

Sensex fell 96 points, Nifty dropped 36.65 amid weak global cues. Concord Biotech surged 14.6%, Swiggy, Zomato gained, Voltas, Blue Star rose on summer demand, while Jindal Worldwide, Adani Green Energy, and Bajaj Auto declined.

Prudential Plc is exploring a $12 billion valuation for ICICI Prudential Asset Management Co. in a potential IPO of its Indian unit. The company may file an initial draft prospectus for the Mumbai listing as early as May, according to sources familiar with the matter, who requested anonymity due to the private nature of the discussions.

Swiggy and Zomato shares rose after ICICI Securities reaffirmed its bullish outlook, citing attractive valuations and improved discretionary spending. The brokerage set a ₹740 target for Swiggy (110.4% upside) and ₹310 for Zomato (34.9% gain), dismissing quick commerce concerns.

Long unwinding occurs when investors sell stocks held for an extended period, either to book profits or exit due to expected bearish trends. On Tuesday, five stocks experienced long unwinding.

Equity mutual funds have faced steep losses in 2025, with some funds declining by up to 27%. Among the top losers, Samco Flexi Cap Fund fell the most, followed by Motilal Oswal ELSS Tax Saver Fund and LIC MF Small Cap Fund.

Carborundum Universal surged by up to 8.2% on Tuesday, reaching Rs 912.45 on the BSE, while Praj Industries gained 6.5%, hitting Rs 508. Kotak Equities increased its target price for Carborundum to Rs 980, suggesting a possible 7.4% upside from the current price.