Most Asian stocks fell on Thursday tracking steep overnight declines on Wall Street amid heightened concerns over the US economy and government debt, with technology shares bearing a bulk of losses.

US stocks slipped on Wednesday as concerns mount about the premier status of American assets.

Here's a table showing how US stocks performed on Wednesday:

Source: Equitymaster

At present, the BSE Sensex is trading 665 points lower, and the NSE Nifty is trading 204 points lower.

Adani Ports, Adani Enterprises, and Jio Financial are among the top gainers today.

Tech Mahindra, HCL Tech, and Trent Hand are among the top losers today.

The BSE Midcap index is trading 0.6% lower and the BSE Smallcap index is trading 0.2% lower.

Sectoral indices are trading negative today with stocks in power sector, IT sector and auto sector witnessing selling pressure.

The rupee is trading at Rs 85.59 against the US dollar.

In commodity markets, gold prices are trading 0.7% lower at Rs 96,231 per 10 grams today.
 

ONGC Q4 Results: Profit Falls on Lower Crude Realisations

Oil and Natural Gas Corporation (ONGC) reported a 20.2% year-on-year decline in consolidated net profit at Rs 88.6 bn for the quarter ended March 2025, compared to Rs 110.9 bn in the same period last year.

The drop in earnings was primarily due to lower crude oil price realisations.

Sequentially, profit also fell from Rs 97.8 bn reported in the December quarter.

Revenue from operations remained largely flat at Rs 1.7 trillion (tn), versus Rs 1.72 tn in Q4 FY24.

The board recommended a final dividend of Rs 1.25 per share.

During the quarter, ONGC's standalone crude oil production stood at 4.70 million metric tonnes (MMT), while natural gas output was 4.893 billion cubic metres (BCM).

Crude oil price realisation from nominated fields came in at US$ 73.72 per barrel in Q4, down from US$ 80.81 per barrel in the same quarter last year.

For the full year FY25, ONGC announced nine hydrocarbon discoveries across its operated acreages-five onland and four offshore. These include seven prospect discoveries (four onland and three offshore) and two new pool discoveries (one each onland and offshore).

NALCO Q4 Profit Doubles

National Aluminium Company Ltd's (Nalco) consolidated net profit nearly doubled to Rs 20.7 billion (bn) in the January-March quarter of 2025, driven by higher revenue from operations, the state-owned firm informed in an exchange filing on Wednesday. Nalco had posted a net profit of Rs 9.9 bn in the same quarter last year.

The Navratna firm's revenue from operations in January-March FY25 surged by 47.2%, reaching Rs 52.7 bn compared to Rs 27.2 bn in Q4 of the previous year.

The public sector undertaking's (PSU) profit in FY25 increased to Rs 52.7 bn from Rs 19.9 bn in FY24. Revenue from operations rose to Rs 167.9 bn from Rs 131.5 bn.

Fueled by strong aluminium and alumina prices, streamlined operations, improved efficiency, and momentum in expansion projects, Nalco has been able to maintain its growth trajectory, supported by robust growth across all its business units and profit margins, it said in a statement.

In FY25, the company achieved its highest-ever bauxite excavation of 76.48 lakh tonnes and the highest-ever domestic sale of 4.55 lakh tonnes.
 

IndiGo Announces its Longest Flight Yet

IndiGo, India's largest airline, has opened bookings for flights to Manchester and Amsterdam, marking a major leap in its international expansion strategy. Moving beyond its traditional low-cost carrier model, the airline is now offering dual-class cabins and has placed widebody aircraft orders, signalling a shift towards premium long-haul operations.

To bridge the gap until its widebody fleet arrives, IndiGo has leased Boeing 787-9 Dreamliners from Norse Atlantic. These aircraft will enable the airline to launch longer international routes that exceed the range of its existing A320 family aircraft. Notably, IndiGo has already been operating Boeing 777s, although these were deployed on shorter routes within the aircraft's full potential.

While IndiGo had initially planned to operate the new flights from Delhi, the ongoing closure of Pakistani airspace has prompted a shift. The airline will now operate the services out of Mumbai-an unexpected boost for the city's international airport.

IndiGo has been selling tickets to both Manchester and Amsterdam via Istanbul through its codeshare agreement with Turkish Airlines. Manchester is among the largest unserved international routes from India, while Amsterdam sees strong competition from KLM and Air India, both of which operate daily flights from Delhi. KLM also connects Amsterdam with Mumbai and Bengaluru.

With these new routes, IndiGo is positioning itself to challenge Air India on the international front, expanding its global reach in the post-pandemic aviation landscape.

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