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Live: Banking stocks fuel Nifty above 24,500; Uncertainty persists on US-Iran talks | Closing Bell
Indian markets ended lower, dragged by weakness in IT stocks. The BSE Sensex slipped over 650 points, while the Nifty 50 fell below 24,450. HCL Technologies led the decline, logging its sharpest fall in 11 years after weak guidance, pulling down peers like Infosys and TCS. Despite the headline fall, market breadth remained positive with broader markets outperforming, as smallcaps extended gains for a second straight session. Financials were under pressure, with ICICI Bank and HDFC Bank slipping. On the upside, stocks like Tata Consumer Products, NTPC and Hindustan Unilever emerged as key gainers.
Hold South Indian Bank; target of Rs 45: ICICI Securities
ICICI Securities recommended hold rating on South Indian Bank with a target price of Rs 45 in its research report dated July 08, 2026.
HDFC Bank rejects 'any assumptions of wrongdoing' after Rs 45 crore 'differential interest' payment report
The Indian Express report claimed that banking regulations do not permit lenders to offer differential interest rates to depositors.
Bank Nifty crashes up to 1.7% amid surge in crude prices, weak SBI Q4; what lies ahead?
A rise in crude oil prices is seen as negative for Indian banks as higher oil prices can increase inflationary pressures.
Buy South Indian Bank; target of Rs 56: ICICI Securities
ICICI Securities is bullish on South Indian Bank recommended buy rating on the stock with a target price of Rs 56 in its research report dated May 08, 2026.