
Sensex jumps over 150 pts, Nifty tops 25,100 on strong global cues after US-Japan trade deal
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Indian benchmark indices Sensex and Nifty50 opened higher on Wednesday, following gains in Asian markets after the United States announced a trade deal with Japan, raising hopes of more such agreements.At 9:40 am, the BSE Sensex was up 160 points or 0.20% at 82,347, while the Nifty50 rose 45 points or 0.20% to 25,110.Japanese equities led the regional rally, while the MSCI Asia-Pacific index (excluding Japan) climbed 0.7%, reflecting improved investor sentiment following the trade breakthrough.Adding to the optimism, U.S. and Chinese officials are scheduled to meet in Stockholm next week to discuss extending the August 12 deadline for a bilateral trade agreement, U.S. Treasury Secretary Scott Bessent said.Easing global trade tensions is seen as a positive trigger for equities, as it reduces uncertainty over global growth and inflation—key concerns that have held the U.S. Federal Reserve back from further rate cuts.Meanwhile, hopes of an interim trade deal between India and the U.S. ahead of Washington's August 1 deadline appear to be fading. Talks remain stalled over tariff reductions on agricultural and dairy products, Reuters reported, citing Indian government sources.Among key movers, Tata Motors, Maruti Suzuki, Adani Ports, Eternal, and M&M opened with gains. On the other hand, Titan, SBI, HDFC Bank, and HUL started the session in the red.On the sectoral front, the Nifty Realty index declined over 2%, dragged by Lodha and Oberoi Realty amid block deals in both counters. In contrast, Nifty Auto, Metal, Pharma, and Oil & Gas opened higher.In the broader market, the Nifty Midcap 100 slipped 0.3%, while the Nifty Smallcap 100 edged down 0.1%.Among individual stocks, Paytm surged 3.5% in early trade after the company swung to a profit in the June quarter, supported by strong growth in its lending business and effective cost control measures. The firm also said it expects further improvement in earnings going forward."The 11th new record high for 2025 set by S&P 500 yesterday is an indication of the direction and resilience of equity markets globally. Markets are climbing all walls of worries and valuation concerns have been put on the back burner. In the near-term, this resilience is likely to continue," said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit."A significant takeaway from the early Q1 results is the improving prospects of banking and digital stocks. In banking the market will be choosy with focus on the high-quality private sector banks, particularly ICICI Bank and HDFC Bank. Q1 results of Eternal and Paytm indicate steady growth potential of the digital stocks, which have a long runway of growth. Investor interest in the digital segment will remain high despite the high valuations," Vijayakumar added.Devarsh Vakil, Head of Prime Research at HDFC Securities, said, "Nifty's 5-day DEMA resistance, positioned at 25093, is the short-term resistance. The positional support of the 50-Day DEMA remains well intact at 24943. Looking ahead, 25255 could offer resistance in Nifty."Japanese shares surged to a one-year high on Wednesday as the country struck a trade deal with the United States that lowers tariffs on its autos, while also reviving hopes for an EU-US agreement that boosted European stock futures.President Donald Trump late on Tuesday said a trade deal with Tokyo will include Japan paying a lower 15% tariff on shipments to the U.S. It followed an agreement with the Philippines that will see the U.S. collect a 19% tariff rate on imports from there.EUROSTOXX 50 futures rose 1%, while Wall Street futures were up about 0.1%.Japan's Nikkei climbed over 3% as shares of automakers surged on news the deal would also lower the auto tariff to 15%, from a proposed 25%. Mazda Motor rallied 17% while Toyota Motor jumped 13.6%.Foreign Institutional Investors (FIIs) extended their selling streak for the second consecutive session, offloading equities worth Rs 3,548 crore. In contrast, Domestic Institutional Investors (DIIs) remained consistent buyers for the 12th straight day, investing Rs 5,239 crore into equities.Oil prices edged up in Asian trade on Wednesday after falling for three consecutive sessions as a U.S. trade deal with Japan signalled progress on tariffs, though gains were capped by fading hopes for a breakthrough at an EU-China summit.Brent crude futures rose 21 cents, or 0.31%, to $68.80 a barrel by 0351 GMT. U.S. West Texas Intermediate crude futures gained 17 cents, or 0.26%, at $65.48 per barrel.The Indian rupee fell 8 paise to 86.46 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, rose 0.08% to 97.46 level.(With inputs from agencies)
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Mint
29 minutes ago
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Japanese equities led regional advances, and the MSCI Asia-Pacific Index (ex-Japan) rose 0.7%. US treasury secretary Scott Bessent's announcement that American and Chinese officials will meet in Stockholm next week to discuss extending the 12 August trade-talk deadline further lifted sentiment. The prospect of easing global trade frictions has mitigated macroeconomic uncertainty, supporting risk appetite. Despite these gains, expectations for an interim India-US trade deal remain subdued, as tariff disputes on key agricultural products persist. Domestically, attention is turning to first-quarter corporate earnings, with Infosys, Dr. Reddy's Laboratories, and Tata Consumer Products poised to deliver results that could drive stock-specific volatility through the remainder of the week. Outlook for trading Volatility was the key feature of the market throughout this week, and the market was whipped around quite a bit as global trends were the main drivers of the sentiment. There really wasn't much by way of local news flow to contain the volatility induced. The moves were also reasonably large, creating sufficient moves to bring people in—only to get knocked out the following day! Trading, therefore, was quite difficult through the week, and it would have been a wonder if one came out largely unscathed in the week. The rally after a strong decline in the middle of the week does restore some confidence, but the swift recovery from lower levels is signalling that the highs will once again be challenged. The attempts continue to emerge as the market tries to carve out a bullish possibility. As we head into the last trading day of the week, we could experience some profit booking as we are not nearing an important inflexion zone. However, the trends are still circumspect, and we are witnessing limited market participation. The Nifty now seeks to contest the resistance around the 25,300 mark, while the Nifty Bank aims to clear 57,500 to clear the air of uncertainty. Volatility is now part of the ever-changing market scenario as the sentiment keeps changing. Risk management is critical, as the lack of clarity is greater than ever. The Nifty is showing a resolve now to move higher as it has once again closed above 25,200, which acts as a big hurdle and is also the Max Pain point. An interesting point to note is that the bullish revival is seen as the PCR has stepped above 1. With the Open Interest data clearly indicating a revival, one should keep tracking a 30-minute range breakout on Thursday, as it continues to be an important metric for creating some longs. As indices are not showing much decline, one should look to encash some stock-specific action. Three stocks to trade, recommended by NeoTrader's Raja Venkatraman: SPIC (Cmp 88.36) Why it's recommended: India's fertilizer companies are performing well. The company has shown good profit growth of 19.24% over the past three years and 47.5% CAGR over the last five years. This counter has simultaneously been showing some improvement after the strong decline into cloud support and generated a buy opportunity yesterday. After a push above the clouds, we can see that the stock is set for a turnaround. Go long. Key metrics: P/E: 13.78 | 52-week high: ₹96.50 | Volume: 1.64M. Technical analysis: Support at ₹80, resistance at ₹110. Risk factors: Delays in government subsidy receipts and market collections. Disruptions to interactions with farmers. Buy at: CMP and dips to ₹85. Target price: ₹98-102 in 1 month. Stop loss: ₹82. 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Mint
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