Buying in metals, auto stocks takes Sensex above 81K
Snapping the two-day falling streak, the 30-share Sensex gained 418.81 points or 0.52 per cent to settle at 81,018.72 with 26 of its constituents ending higher and four down. During the day, it climbed 493.28 points or 0.61 per cent to hit an intraday high of 81,093.19. The 50-share NSE Nifty jumped by 157.40 points or 0.64 per cent to close at 24,722.75. In the intraday session, it rose 169.3 points or 0.6 per cent to hit a high of 24,734.65.
Among Sensex firms, Tata Steel was the lead gainer, humping by 4.31 per cent. BEL, Adani Ports, Tata Consultancy Services, Tech Mahindra, Bharti Airtel, HCL Technologies, Trent, Mahindra & Mahindra, Reliance Industries, UltraTech Cement and Larsen & Toubro were the major gainers. However, Power Grid, HDFC Bank, ICICI Bank, Hindustan Unilever were among the laggards.
'The domestic equity market edged higher, supported by strong performance in the metal and auto sectors. A weakening US Dollar, along with robust monthly auto sales and encouraging quarterly results from leading automakers, helped renew investor interest in these sectors. 'The Q1 earnings summary indicates that consumption-driven companies are benefiting from a rebound in volume demand. Meanwhile, rising unemployment and slower job creation in the US have reinforced expectations of a potential Fed rate cut. However, there still remains room for caution due to high US tariffs,' Vinod Nair, Head of Research, Geojit Investments, said. The BSE smallcap gauge rose 0.76 per cent and the midcap index by 1.11 per cent Among sectoral indices, metal rose by 2.58 per cent, realty by 1.88 per cent, commodities by 1.79 per cent, services by 1.74 per cent, auto by 1.54 per cent, focussed IT by 1.48 per cent, teck by 1.46 per cent and IT by 1.38 per cent. FMCG and Bankex were the only laggards. 'Markets started the week on a positive note, gaining over half a percent amid mixed cues.
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Hindustan Times
20 minutes ago
- Hindustan Times
India, US bureaucrats work to ease nerves amid face-off
Washington : Diplomats in New Delhi and Washington are battling behind the scenes to stabilise the India-US partnership even as political tensions have escalated dramatically following President Donald Trump's decision to impose a 50% tariff rate on Indian goods. US President Donald Trump with Prime Minister Narendra Modi at the White House in Washington, DC.(Reuters File) According to persons closely involved with the relationship, governmental bureaucracies in both capitals have quietly continued functional cooperation on energy, trade and connectivity despite the public confrontation over India's Russian oil purchases. The diplomatic push comes after Trump imposed an additional 25% tariff on Wednesday—bringing the total levy to 50% effective August 28—while India hit back, calling the measures 'unfair, unjustified and unreasonable' and vowing to protect its national interests. As HT reported, National Security Council director for South Asia Ricky Gill visited India this week for a summit on the delayed India Middle East Europe Economic Corridor (IMEC), underscoring continued strategic cooperation despite trade tensions. Gill — Trump's top adviser for South Asia at the White House — met with senior officials from India as well as key European nations during his New Delhi visit. A veteran of the first Trump administration, where he handled Russia and European energy issues, Gill's engagement signals White House recognition of the partnership's strategic importance. However, the diplomatic effort comes against the backdrop of key policy positions related to India in the Trump administration remaining unfilled. The state department currently lacks an assistant secretary for South Asia, while Washington has not nominated an Ambassador to India. Despite political tensions, plans for senior delegation visits on crucial priority areas continue. The US Department of Energy plans to send a high-level delegation to India in coming months, while a key Indian energy delegation is expected to visit Washington at month's end. Amid the outreach, India is ramping up purchases of both crude oil and liquified natural gas from the US, with imports of US crude jumping 114% to $3.7 billion in the first quarter of FY 2025-26 from $1.73 billion in the same period the previous year. India also increased US crude oil imports by 51% in the first six months of 2025 compared to the same period last year, highlighting New Delhi's efforts to diversify energy sources whilst maintaining Russian purchases for price competitiveness. The energy cooperation contrasts sharply with Trump's tariff justification, which cites India's Russian oil imports as 'fuelling the war machine' in Ukraine. Cooperation with various other arms of the US government—including treasury and state department—continues despite public tensions, according to the people cited above. India has mounted a robust defence of its energy policies, with the ministry of external affairs pointing to continued Western trade with Russia to counter American criticism. 'Europe-Russia trade includes not just energy, but also fertilizers, mining products, chemicals, iron and steel and machinery and transport equipment,' the ministry said in a statement earlier in the week. 'Where the United States is concerned, it continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilizers as well as chemicals.' The uncertainty, however, is palpable and experts believe it remains to be seen how crucial strategic collaboration in several areas is impacted. 'Commentators sometimes complain about bureaucratic dialogues. But I think the infrastructure built around the India-US relationship has brought benefits. Last I checked, there were around three dozen diplomatic dialogues between the US and India. These help keep channels of communication open, both in good times and challenging times,' said Basant Sanghera, managing principal at the Asia Group.
Mint
20 minutes ago
- Mint
Stock market today: Trade setup for Nifty 50, Trump tariffs, Q1 results today; 8 stocks to buy or sell on Thursday
Stock market today: The benchmark Nifty 50 index managed to end a volatile trading session on Thursday on a positive note at 24,596.15, up 0.09%. Bank Nifty ended 0.2% higher at 55,521.15, as Pharma and IT rebounded well, leading the rally for other indices. Only Realty and Oil & Gas lagged on a day when even mid- and small-caps ended with 0.17-0.33% gains. Nifty managed to hold above the 24,450 mark on a closing basis. A decisive move above the 24,800 level could pave the way for a further rebound towards the 25,000 mark, said Ajit Mishra – SVP, Research, Religare Broking Ltd. For Bank Nifty, the support lies in 55100 - 54900, while it faces resistance at 55750 - 56000, as per Rajesh Bhosale, Equity Technical Analyst, Angel One. As the Q1 earning season is nearing its end, investors will keenly watch results of SBI, Tata Motors, Siemens, Info Edge, and others to be announced on Friday. 'Overall, we expect the market to remain range-bound, tracking developments around US-Russia peace talks, India's response to US tariffs and the domestic earnings trajectory,' said Siddhartha Khemka - Head Of Research, Wealth Management, Motilal Oswal Financial Services Ltd., Jubilant FoodWorks Ltd. Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher—recommended these eight intraday stocks for today: Avalon Technologies Ltd., Kajaria Ceramics Ltd., Tata Steel Ltd., SBI Cards and Payment Services Ltd., Ramkrishna Forgings Ltd., Navkar Corporation Ltd. and Torrent Power Ltd. 1. Avalon Technologies Ltd-Bagadia recommends buying Avalon Technologies at around ₹ 955, keeping Stoploss at ₹ 918 for a target price of ₹ 1015 AVALON is currently positioned at ₹ 955 levels and witnessed a spectacular rally in today's session. This marks a decisive breakout from a prolonged consolidation zone, suggesting the return of bullish momentum in the counter. The stock formed a strong bullish candle on the daily chart, with minimal upper wick—indicating buying strength throughout the session. 2. Kajaria Ceramics Ltd—Bagadia recommends buying KAJARIACER at around ₹ 1263, keeping Stoploss at ₹ 1220 for a target price of ₹ 1350 KAJARIACER, currently trading at 1263, delivered a sharp upward breakout in today's session. LUMAXTECH has delivered a strong bullish candle after a few sessions of consolidation, indicating renewed buying interest near the short-term support levels. This marks a breakout from a recent range of 1,150–1,212. Importantly, the stock has now moved above the resistance zone. 3. Tata Steel Ltd-Dongre recommends buying TATASTEEL at ₹ 159, keeping Stoploss at ₹ 155 for a target price of ₹ 167 Stock has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹ 159 and has established a solid support base at ₹ 155. This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinforcing bullish sentiment. The technical setup points to the potential for a price retracement toward the ₹ 167 level in the near term. 4. SBI Cards and Payment Services Ltd—Dongre recommends buying SBICARD at ₹ 796, keeping stop loss at ₹ 785 for a target price of ₹ 815 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 796 and maintaining strong support at ₹ 785. The technical setup indicates the potential for a price retracement towards the ₹ 815 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 785 offers a prudent approach to capturing the anticipated upside. 5. Jubilant FoodWorks Ltd—Dongre recommends buying JUBLFOOD at ₹ 735, keeping Stoploss at ₹ 725 for a target price of ₹ 755 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 735 and maintaining strong support at ₹ 725. The technical setup indicates the potential for a price retracement towards the ₹ 755 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 725 offers a prudent approach to capturing the anticipated upside. 6. Ramkrishna Forgings Ltd—Koothupalakkal recommends buying RK FORGING at around ₹ 577.90 for a target price of ₹ 605, keeping the stop loss at ₹ 565 The stock, after witnessing a decent erosion, has found support near the ₹ 550 zone and has indicated a bullish candle formation on the daily chart to improve the bias, and we can expect a further rise in the coming sessions. The RSI has corrected well and is currently hovering near the oversold zone, indicating a trend reversal to signal a buy with much upside potential visible. With the chart technically looking good, we suggest buying the stock. 7. Navkar Corporation Ltd—Koothupalakkal recommends buying NAVKAR CORP at around ₹ 123.19 for a target price of ₹ 130, keeping the stop loss at ₹ 120 The stock has witnessed a short period of correction and has taken support near the 50EMA zone at the ₹ 118 level, indicating a pullback with a positive candle formation moving past the 200-period MA at the ₹ 121 level, improving the bias, and we can expect a further rise in the coming sessions. The RSI after correcting from the overbought zone is currently well placed and has much visible upside potential. With the chart technically looking good, we suggest buying the stock. 8. Torrent Power Ltd-Koothupalakkal recommends buying TORRENT POWER at around ₹ 1357 for a target of ₹ 1420, keeping the stop loss at ₹ 1325 The stock, after witnessing a gradual slide, has bottomed out near the 1270 zone and has indicated a decent pullback with improving bias, expecting a further rise in the coming sessions. With the RSI recovering from the oversold zone, there is much upside potential visible to carry on with the positive move. With the chart technically looking good, we suggest buying the stock. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
20 minutes ago
- Mint
Here's how much Akash, Isha, and Anant Ambani earned from Reliance in FY25
Mukesh Ambani-run Reliance Industries released its AGM report on Thursday, 7 August 2025. According to an official BSE filing, the oil major disclosed that Anant Ambani, Isha Ambani, and Akash Ambani received equal compensation for the financial year ended 2024-25. The data collected from the AGM report disclosed how much each non-executive and full-time director earned in the 2025-26 fiscal year. These directors included Ambani family members Anant, Isha, Akash, and Mukesh Ambani himself, along with other key executives. Apart from Mukesh Ambani, all three Ambani family members took home ₹ 2.31 crore each, including the sitting fee and commission, as part of the total remuneration. Total earnings of the Non-executive directors of Reliance Industries as of the financial year ended 2025-26. Mukesh Ambani, the Managing Director and Chairman of Reliance Industries, received zero salary for the fifth consecutive year in 2024-25. The salary figures include performance-linked incentives for the fiscal year 2023-24, which are disbursed in the 2024-25 fiscal year. Other whole-time directors Nikhil R Meswani and Hital R Meswani earned ₹ 25 crore each, while P M S Prasad earned ₹ 19.96 crore in the year ended 2024-25. The tenure of the Executive Director's office is five years from the date of appointment. Reliance appointed Anant Ambani as its new whole-time director after the board meeting of the April-June quarter in June 2025. Mint reported earlier that Mukesh Ambani's youngest son, Anant Ambani, was appointed as one of Reliance Industries' full-time directors, according to the company's exchange filing on Sunday, 29 June 2025. As the new full-time director of the oil marketing major, Anant Ambani will earn between ₹ 10 crore and ₹ 20 crore, including all the salary, perquisites, and allowances. 'Salary, Perquisites and Allowances shall be in the range of ₹ 10 crore to ₹ 20 crore per annum. Annual increments shall be as determined by the HRNR Committee,' the company informed BSE through the official filing. Reliance will give Anant Ambani an accommodation cost or house rent allowance, gas, electricity, and water, among other provisions, as part of the 'Salary, Perquisites and Allowances' according to the Income Tax Act of 1961. The youngest son of the Ambani family will also receive a contribution to the provident fund, superannuation or annuity fund, gratuity payable, and encashment of leaves from Reliance Industries, in addition to the ' ₹ 10 crore to ₹ 20 crore' salary. According to official data, Anant Ambani will also receive an extra payment based on the net profits, expense reimbursements, and security and medical reimbursement from the oil major.
