Sensex Today | Stock Market LIVE Updates: GIFT Nifty signals a negative start; Asian shares slide

• Bernstein maintains a market-perform rating on Bajaj Finance with a target price of Rs 6,800.
• The company faces significant credit cost increases, offset slightly by a sequential rise in non-interest income. Return metrics, particularly RoA and RoE, show mixed trends.

• Macquarie maintains a neutral rating on ICICI Pru with a target price of Rs 580.
• They highlight strong APE growth and performance across channels but express concern over weak protection growth and margin compression.

• Investec has reaffirmed a hold rating on HUL and raised the target price to Rs 2,797 from Rs 2,439.
• Q1 performance slightly exceeded expectations across all metrics, with gradual improvement anticipated. UVG faced challenges from Personal Care and Foods, while growth prospects appear stronger in premium categories.

• The euro was little changed at $1.0848
• The Japanese yen fell 0.2% to 155.89 per dollar
• The offshore yuan was little changed at 7.2913 per dollar

Indian government bond yields are anticipated to stabilize within a narrow band on Wednesday, following a lackluster response from traders to the federal budget. Market participants are expected to look for other catalysts to provide clearer market direction.

According to a trader from a private bank, the benchmark 10-year yield is likely to fluctuate between 6.95% and 6.98%, as compared to its previous close at 6.9695%.

Oil prices bounced back on Wednesday following a decline over several days, driven by a drop in U.S. crude inventories. Meanwhile, hopes for an imminent ceasefire agreement in the Middle East prevented prices from rising further.

Brent crude futures for September climbed 46 cents to reach $81.47 per barrel as of 0020 GMT. Similarly, U.S. West Texas Intermediate crude for September rose by 42 cents to $77.38 per barrel.

Asian stock markets were quiet on Wednesday following underwhelming earnings reports from major U.S. technology giants Tesla and Alphabet, which dampened investor confidence. Meanwhile, the Japanese yen reached its highest level in six weeks as anticipation built ahead of an upcoming central bank meeting where the possibility of a rate hike remains uncertain.

The U.S. dollar maintained strength overall, as market participants awaited Friday’s inflation data and the Federal Reserve’s meeting next week. Additionally, the Bank of Japan is scheduled to meet, with a 44% probability priced in for a 10 basis point rate increase.

• S&P 500 futures fell 0.4% as of 9:07 a.m. Tokyo time
• Japan’s Topix fell 0.4%
• Australia’s S&P/ASX 200 fell 0.2%
• Euro Stoxx 50 futures rose 0.3%