Indian indices end sharply lower on Friday amid foreign fund outflows and tariff-related jitters
Foreign Institutional Investors remained net sellers, offloading equities worth ₹4,997.19 crore in the previous session, even as Domestic Institutional Investors stepped in to buy stocks worth ₹10,864.04 crore. The selling pressure from foreign funds compounded investor anxiety about the prospect of higher trade barriers and tariff headlines, which cast doubt on near-term corporate earnings and export prospects.
Globally, Brent crude rose about 0.6% to $66.82 a barrel, a move that added to cost-concern narratives for energy-sensitive sectors. Against this backdrop, market breadth skewed negative as selling in large-cap names outweighed gains in select defensive and consumer plays. Volatility picked up and volumes suggested risk-off positioning ahead of next week's economic data and any new trade or tariff developments.
Analysts said the combination of persistent FII outflows, tariff-related headlines and cautious global cues kept sentiment fragile; short-term momentum indicators favoured further consolidation unless foreign flows stabilise or clearer policy signals emerge. For now, investors are likely to prefer high-quality defensive names and await fresh triggers before reallocating to cyclical sectors.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
US duty bump jolts JLR, dents Tata Motors profit in Q1
MUMBAI: The profitability of Tata Motors ' cash cow, Jaguar Land Rover, was hit by tariffs imposed by US President Donald Trump, resulting in a 30% fall in the overall profitability of the Indian company. Outgoing JLR chief Adrian Mardell anticipates new trade deals signed between the US and the UK, effective June 30, and between EU and US, announced on July 27, reducing tariffs on UK-produced and EU-made vehicles exported to America from 27.5% to 10% and 15%, respectively, will lessen the financial impact of US tariffs on the business in following quarters. Operating profit of JLR slipped 49% to 351 million pounds or Rs 4,130 crore in Q1FY26. Revenue at JLR, acquired by Tata Motors in June 2008, also decreased by 10% to 6.6 billion pounds or Rs 77,662 crore as it ceased exports to the US for nearly a month in April in response to the tariffs imposed by Trump and phased out older Jaguar models primarily made in the UK. The US is the most important export market for JLR, accounting for nearly a quarter of its sales. These earnings come just eight days after JLR announced Mardell's exit from the company, where he has worked for 35 years and overseen its strongest profit in a decade. Incoming JLR CEO P B Balaji brushed off criticism from Trump, who accused JLR of being in "absolute turmoil" and labelled its recent marketing campaign as "stupid" and "woke". Despite this, JLR is standing by its new branding. Tata Motors' profit reduced to Rs 4,003 crore in Q1 FY26. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
4 hours ago
- Time of India
SC upholds Delhi HC ruling favouring Airtel, Indus Towers, says telecom towers eligible for ITC
The Supreme Court on Friday upheld a Delhi High Court 's December ruling that favoured Bharti Airtel and Indus Tower, holding that telecom towers qualify as "movable" property and, thus eligible for input tax credit (ITC) under the income tax laws. Reaffirming pre-GST position on mobile towers ceasing to be an 'immovable property,' a Bench comprising Justice Pankaj Mithal and Justice Prasanna B Varale dismissed the income tax department's appeal and upheld the HC December 12 decision that held that telecom towers fall within the scope of plant and machinery and do not fall within the ambit of Section 17(5)(d) of the Central Goods and Services Tax Act, 2017, and therefore, were eligible for ITC. It also upheld the high court decision to quash the demand and show cause notices issued to Bharti Airtel and Indus Towers . The top court refused to accept the Revenue's stand to differentiate between the service tax regime and the GST framework in the treatment of such infrastructure, stating that it would not permit such 'hair-splitting' interpretations. The department had challenged the HC ruling that refused to characterise mobile towers as immovable property, thereby granting ITC on inputs and input services used for setting up such passive infrastructure. It stated that the explanation at the end of Section 17(5) of the CGST Act had excluded the telecommunication towers specifically from plant and machinery. Senior counsel Arvind P. Datar, appearing for Airtel, argued that the intent of the law, both in the pre-GST and post-GST regime, had been consistent in denying the credit to be only in the context of immovable property, whether pre-GST or post-GST. The telecos stand was that the telecommunication towers were moveable items of essential equipment used in telecommunications, which can be dismantled at site and, thus, capable of being moved. It is only the concrete structure on which those telecommunication towers were placed which could be treated as an immovable element of that equipment whereas steel or metal structures were capable of being shifted to other locations, they said, adding that the assumption that the installation of these towers results in the establishment of an immovable structure is misconceived, said the telecom companies. Welcoming the SC decision, Sandeep Sehgal, Partner-Tax, AKM Global, a tax and consulting firm, said that 'the judgment ensures consistency with earlier service tax rulings and avoids unnecessary technical interpretations. This is a welcome relief for the telecom sector and other industries that invest heavily in fixed infrastructure, reinforcing the principle that legitimate business inputs should not be blocked from credit.' The HC had held that the denial of input tax credit based on the department's stand that towers should be categorised as "immovable" property was "wholly untenable." It ruled that the specific exclusion of telecommunication towers from plant and machinery would not lead one to conclude that the statute contemplates or envisages telecommunication towers to be immovable property. 'Telecommunication towers would in any event have to qualify as immovable property as a pre-condition to fall within the ambit of clause (d) of Section 17(5). Their exclusion from the expression 'plant and machinery' would not result in it being concomitantly held that they constitute articles which are immoveable," the HC had said.
Time of India
4 hours ago
- Time of India
Bharti Airtel promoter entity sells shares for ₹11,227 crore
Indian Continent Investment Ltd, an entity promoted by billionaire Sunil Bharti Mittal, on Friday divested nearly one per cent stake in telecom carrier Bharti Airtel for ₹11,227 crore through open market transactions. Indian Continent Investment Ltd (ICIL) is one of the promoters of Gurugram-based Bharti Airtel. According to the bulk deal data available on the NSE, Indian Continent Investment Ltd offloaded a total of 6 crore equity shares in two tranches or a 0.98 per cent stake in Bharti Airtel. The shares were disposed of in the price range of ₹1,870.40-1,871.95 apiece, taking the combined deal value to ₹11,227.05 crore. After the latest transaction, ICIL's holding in Bharti Airtel has come down to 1.49 per cent from 2.47 per cent. Also, the holding of promoters has reduced to 50.27 per cent from 51.25 per cent. Details of the buyers of Bharti Airtel's shares could not be ascertained on the exchange. Shares of Bharti Airtel fell 3.28 per cent to close at ₹1,859.50 apiece on the NSE.
