Raymond Realty block deal: Norges Bank sells Rs 42 cr stake; parent too sees deal frenzy worth Rs 221 crore
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Time of India
2 hours ago
- Time of India
ET Market Watch: Sensex gains 90 pts, Nifty holds 25,500 ahead of US tariff deadline
Transcript 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: Sensex gained 90 points. Nifty held above 25,500. Investors stayed cautious as US trade talks loomed. On Tuesday, Indian markets edged higher, tracking gains in Asia. Sensex closed at 83,697, up 0.11% Nifty at 25,541, up 0.1% Gains were capped by weak financials and trade deal jitters ahead of Trump's July 9 tariff deadline. Sector Moves & Stock Highlights Reliance rose 1.8% after Nuvama raised its target to ₹1,801, citing new energy growth. Bharat Electronics, Asian Paints, UltraTech Cement, and Kotak Bank gained up to 2.5%. Financials eased 0.2% for a second day, but PSU banks outperformed, Nifty PSU Bank up 0.7%. Key Movers Apollo Hospitals surged 3.5% after announcing a spin-off of its digital and pharmacy biz. Sigachi Industries plunged another 5.6%, extending its two-day loss to over 17% after the Telangana plant tragedy. Technical Views Kotak Securities said markets showed lacklustre activity, forming a narrow-range candlestick. Key resistance: 25,600 on Nifty, 83,900 on Sensex Key support: 25,470 / 83,500 HDFC Securities sees higher highs on charts, with a breakout above 25,700 likely taking Nifty to 26,000+. Global Cues & Rupee Asian stocks rose as US trade talks and a $3.3 trillion spending bill hung in the balance. Rupee firmed up 0.3% to 85.52 against the dollar. Crude held steady, Brent at $66.79, WTI at $65.15. Markets stayed range-bound, but positioning hints at a breakout, with trade talks, earnings, and global data in focus.
The Hindu
3 hours ago
- The Hindu
Demand distress: on slowdown in the overall IIP
The new financial year has gotten off to a relatively poor start when it comes to industrial production. Growth in the Index of Industrial Production slumped to a nine-month low of 1.2% in May 2025. This follows an eight-month low of 2.6% in April. Taken together, this puts the average growth in the index so far in 2025-26 at just 1.9%, down from the 5.7% average in 2024-25. A major reason behind the dip in May's industrial performance was due to the electricity sector, which contracted 5.8%, its worst performance since June 2020, nearly five years ago. This poor performance in electricity generation can be put down to an unusually cool May, but it could also point towards lower offtake for industrial purposes. The fact also remains that the slowdown in the overall IIP has been broad-based — several key sectors have either contracted or slowed sharply. The manufacturing sector slowed to a growth of 2.6% in May, down from 5.1% in May last year. A deeper look shows that this slowdown was driven by contractions in the manufacture of textiles, leather products, chemicals, pharmaceuticals, electronics, and furniture. While some of these are core sectors, most are consumer-facing, implying that demand in the economy is not picking up, and may even be slackening further. This is backed by the fact that the consumer durables and nondurables sectors simultaneously contracted for the first time since November 2023. A sub-sector analysis of this data further reinforces the takeaway that demand is weak. Within consumer durables, the IIP data showed significant contractions in the production of footwear, books, plastic furniture, shaving razors, stainless steel utensils, computers, phones, air-conditioners and coolers. These are all items of discretionary spending, not strictly essential, which implies that people are holding off on their purchases. Even among consumer non-durables, the items that have seen contractions — such as meat, honey, fruit juice, jams, sugar and bottled water — are those that are eschewed the quickest during lean periods. The situation does not seem to have improved much in June either. The private sector manufacturing Purchasing Managers Index report, released on Tuesday, shows that while demand for intermediate goods is doing well, the same cannot be said for either capital or consumer goods. In recent interviews, Finance Minister Nirmala Sitharaman has expressed confidence that urban demand is recovering and that Budget 2025's tax breaks will boost demand by the time the festival season rolls around. The progress of the monsoon so far indicates that rural demand may indeed pick up by then, but urban demand remains a worry. With trade remaining subdued and uncertain, domestic demand weakness does not augur well for the economy in 2025-26.
The Print
5 hours ago
- The Print
Stock markets close higher on buying in Reliance, HDFC Bank
The 50-share NSE Nifty gained 24.75 points or 0.10 per cent to close at 25,541.80. The 30-share BSE Sensex rose by 90.83 points or 0.11 per cent to settle at 83,697.29 with 13 of its constituents closing higher and 17 in the red. During the day, it rallied 267.83 points or 0.32 per cent to 83,874.29. Mumbai, Jul 1 (PTI) Benchmark stock indices Sensex and Nifty closed higher in a range-bound trade on Tuesday, helped by gains in index heavyweight Reliance Industries and HDFC Bank. Among Sensex firms, Bharat Electronics was the lead gainer, rising by 2.51 per cent after the company announced securing orders worth Rs 528 crore. Reliance Industries advanced 1.84 per cent as analysts expressed optimism over the launch of a solar manufacturing facility. Asian Paints, UltraTech Cement, Kotak Mahindra Bank and HDFC Bank were also among the major gainers. Axis Bank, Trent, Eternal and Tech Mahindra were among the laggards. 'Markets traded lacklustre and ended almost unchanged, taking a breather after Monday's decline. Following an initial uptick, the Nifty moved in a narrow range and eventually settled at 25,541.80. Buoyancy in global markets—especially the US—along with stable domestic cues suggests that the prevailing trend is likely to continue,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. The BSE smallcap gauge dipped 0.18 per cent and midcap index dipped 0.07 per cent. Among BSE sectoral indices, telecommunication rose by 0.52 per cent, energy by 0.46 per cent, consumer durables by 0.43 per cent and metal by 0.30 per cent. FMCG declined 0.68 per cent, power (0.41 per cent), utilities (0.32 per cent), IT (0.24 per cent) and BSE Focused IT (0.25 per cent). As many as 2,025 stocks advanced while 1,985 declined and 154 remained unchanged on the BSE. 'Domestic indices traded within a narrow range, following last week's strong rally. Investors are closely monitoring developments, seeking clarity on U.S. tariffs as the 90-day pause approaches its end,' Vinod Nair, Head of Research, Geojit Investments Limited, said. In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index settled in the positive territory while Japan's Nikkei 225 index ended lower. Markets in Hong Kong were closed. European markets were trading mostly lower. The US markets ended higher on Monday. Global oil benchmark Brent crude dipped 0.22 per cent to USD 66.56 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 831.50 crore on Monday, according to exchange data. On Monday, the Sensex dropped 452.44 points or 0.54 per cent to settle at 83,606.46. The Nifty declined 120.75 points or 0.47 per cent to 25,517.05. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
