ET Markets Watch: Sensex falls, metals rise, Trump hints at India trade deal
Hi, you're listening to ET Markets Radio, I am your host, Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it:
Indian markets took a breather today. Sensex dropped 287 pts, and Nifty slipped below the 25,500 mark.
Financial stocks dragged the indices down, with HDFC Bank, Bajaj Finance, and Kotak Mahindra Bank leading the fall. The Nifty Financial Services index lost 1%.
But here's what held up the sentiment, Metals! A global rally in steel futures powered a 1.4% rise in the Nifty Metal index, with Tata Steel jumping 3.7%.
Debut alert: HDB Financial Services listed at ₹835, that's a 12.8% premium to its issue price.
Meanwhile, Trump hinted at a possible India–U.S. trade deal, which could dodge the 26% tariff threat, temporarily paused till July 9.
Experts say:
Caution is creeping in as we near Q1 earnings season and the tariff deadline.
On the global front:
Europe opened in the green
U.S. futures up
Oil inched up higher on Iran tension
Rupee dipped to 85.70/USD
What to watch next?
US jobs data & the Fed's rate cut path — both could shake things up.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
29 minutes ago
- Mint
PM Modi's historic Ghana visit: UPI push, 4 MoUs inked, new frontiers in defence, and minerals explored
Prime Minister Narendra Modi on Wednesday held a bilateral meeting with Ghanaian President John Mahama, during which the two leaders upgraded their relationship to a Comprehensive Partnership. PM Modi highlighted the significant potential for collaboration in key areas such as critical minerals, defence, maritime security, and energy. Taking to X, PM Modi said, 'India and Ghana also see immense scope in working closely in areas such as critical minerals, defence, maritime security and energy. Enhancing cultural linkages was also talked about.' India and Ghana signed four Memoranda of Understanding (MoUs) on Wednesday to strengthen bilateral cooperation in key areas such as culture, health, standardisation, and institutional dialogue. The agreements were signed following delegation-level talks between Prime Minister Narendra Modi and Ghanaian President John Mahama in Accra. Addressing a press briefing after the meeting, Secretary (Economic Relations) Dammu Ravi said the MoUs covered cultural exchange, traditional medicine, standards collaboration, and the establishment of a Joint Commission. "After the delegation-level talks, there was the signing of four Memoranda of Understanding, one to establish the Joint Commission meeting at the Foreign Office level. Second is traditional medicine, where there is scope for both sides to exchange expert training. The third is the cultural exchange programme, where there's hope that this will encourage cultural exchanges and tourism. The fourth one is in the area of standard setting," he said. The four Memoranda of Understanding signed between India and Ghana include a Cultural Exchange Programme (CEP), aimed at promoting greater cultural understanding and exchanges in the fields of art, music, dance, literature, and heritage. The second MoU, signed between the Bureau of Indian Standards (BIS) and the Ghana Standards Authority (GSA), seeks to enhance cooperation in standardisation, certification, and conformity assessment. The third agreement was signed between the Institute of Traditional and Alternative Medicine (ITAM), Ghana, and the Institute of Teaching and Research in Ayurveda (ITRA), India, to facilitate collaboration in traditional medicine education, training, and research. The fourth MoU relates to the Joint Commission Meeting, which aims to institutionalise high-level dialogue and ensure regular reviews of bilateral cooperation mechanisms. The prime minister also highlighted the upswing in trade relations between the two countries. 'Indian companies have invested nearly two billion dollars in about 900 projects. Today, we have set a target to double our mutual trade in the next five years,' he said. "In the field of FinTech, India is ready to share its experience of UPI digital payments with Ghana," he noted. The prime minister also said that Indian companies will cooperate in the exploration and mining of critical minerals. The prime minister said both sides were unanimous that terrorism is the enemy of humanity and that it was decided to further strengthen mutual cooperation in countering the menace. "We are unanimous that terrorism is the enemy of humanity. We thank Ghana for its cooperation in our fight against terrorism," Modi said. 'In this context, we have decided to further strengthen mutual cooperation in counter-terrorism,' he said. In the field of defence and security, we will move forward with the mantra of "security through solidarity", he added. India-Ghana cooperation will be enhanced in areas such as training of armed forces, maritime security, defence supply and cyber security, he added. The prime minister said both sides expressed serious concerns over the conflicts in West Asia and Europe and called for finding solutions to the problems through dialogue and diplomacy. Secretary Dammu Ravi also confirmed that Prime Minister Modi had agreed to support Ghana in the field of agriculture. 'Ghanaian President Mahama mentioned during the discussions that he sought India's cooperation in the area of agriculture... The entrepreneurs to be able to develop Ghana as a food basket and provide food security to its people. PM Modi had agreed to support Ghana in this endeavour,' he said. The two leaders also discussed boosting cooperation in pharmaceuticals, with a focus on enhancing vaccine production capacity in Ghana. "The second item was in the area of pharma and vaccines. President Mahama is interested in creating Ghana a hub for vaccines. Some development has already taken place in collaboration with the Global Vaccine Alliance. He wants Indian entrepreneurs to come and set up manufacturing units in the pharma and vaccines, where India has advanced its capacity," Ravi added. We are unanimous that terrorism is the enemy of humanity. This marks the first visit by an Indian Prime Minister to Ghana in over three decades. The visit is expected to significantly deepen the India-Ghana partnership and signal India's continued engagement with Africa and the Global South.
Mint
29 minutes ago
- Mint
Pete Hegseth thanks Jaishankar for strengthening Indo-US ties, defense pact, ‘salute our two great democracies'
US Secretary of Defense Pete Hegseth on Wednesday thanked EAM S Jaishankar for a productive meeting on advancing the India-US defence partnership, building on growing convergences of interests, capabilities and responsibilities. The two met on Tuesday on the sidelines of QUAD. Hegseth posted on X, 'Great meeting yesterday with Indian Minister of External Affairs S Jaishankar' 'Thank you, Mr. Minister, for all you do to strengthen U.S.-India relations, especially our defense partnership. I salute our two great democracies' cooperation in securing a free and open Asia-Pacific,' he goes on to add. On Wednesday, the US has expressed hope that it can complete several major pending American defence sales to India, as it stressed that Washington and Delhi are 'mutually aware' of the security concerns in the Indo-Pacific region. Hegseth said, according to the Department of Defence (DoD) news article, the US and India are 'mutually aware of the security concerns in the region, and both nations have the ability to counter that threat together." He also emphasised on US efforts to equip India with the necessary tools to address security challenges in the Indo-Pacific. 'The United States is very pleased with the successful integration of many US defence items into India's inventory," Hegseth said, according to the DoD news article. "And building on this progress, we hope we can complete several major pending US defence sales to India, expand our shared defence industrial cooperation and coproduction efforts, strengthen interoperability ... between our forces, and then formally sign a new 10-year Framework for the US-India Major Defence Partnership ... which we hope to do very soon." Jaishankar, meanwhile, said, 'We believe that our defence partnership is, today, truly one of the most consequential pillars of the relationship. "It's not built merely on shared interest, but we believe really deepening convergence and of capabilities, of responsibilities and what we do in the Indo-Pacific, we believe, is absolutely crucial to its strategic stability," he said. (With inputs from agencies)
Economic Times
30 minutes ago
- Economic Times
Asian shares post modest gains before US payrolls
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
