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Time of India
3 hours ago
- Time of India
Sensex slides over 800 points as global tensions resurface
Representative image (ANI) MUMBAI: Geopolitical factors, primarily talks of an imminent Israel attack on Iran, left global investors jittery, impacting those on Dalal Street on Thursday. As a result, the Sensex closed 823 points down at 81,692 points, with L&T, Infosys , and ICICI Bank contributing the most to the index's loss for the day. The day's session also left investors poorer by nearly Rs 6 lakh crore, with BSE's market capitalisation now at Rs 449.6 lakh crore, official data showed. Tariff-related uncertainties and rising crude oil prices also weighed on investors, market players said. On the NSE , Nifty closed 253 points lower at 24,888 points. According to Vinod Nair, head of research at Geojit Investments, consolidation in domestic markets is evolving into a broad-based trend, now extending to large-cap stocks. "Valuation concerns and rising oil prices, driven by West Asia tensions, are fuelling risk aversion among investors. Adding to the uncertainty, the US is considering unilateral tariff hikes on several key trading partners, with a decision expected within the next one to two weeks, ahead of an early July deadline. " In Thursday's session, foreign funds were net sellers of stocks worth Rs 3,831 crore, while domestic funds were net buyers at Rs 9,394 crore, BSE data showed. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
6 hours ago
- Business Standard
Sensex, Nifty decline amid geopolitical tension and trade uncertainty
Indian equities declined on Thursday amid uncertainty surrounding the US–China trade deal and rising geopolitical tensions. The Sensex ended at 81,692, a decline of 823 points or 1 per cent. The Nifty, meanwhile, ended the session at 24,888, a fall of 253 points or 1.01 per cent. Investors were jittery despite US President Donald Trump's claim on Wednesday that a tariff framework with China had been reached. Concerns about elevated geopolitical tensions further dented sentiment after Iran said it would strike US bases in the Middle East if nuclear talks failed. The US, in response, said its personnel were being moved out of the Middle East as it could become a dangerous place. Geopolitical tensions in the Middle East could push Brent crude prices higher—a key negative for India, which imports most of its crude oil requirements. Aviation stocks declined after a fatal crash of a Boeing 787 Dreamliner operated by Air India left more than 200 people dead. The shares of Indian aviation firms fell. The stock of InterGlobe Aviation, which owns IndiGo, dropped 2.7 per cent, while that of SpiceJet declined by 1.8 per cent. Shares of helicopter services firm Global Vectra Helicorp fell by 0.1 per cent, and those of chartered aircraft carrier Taal Enterprises declined by 3.05 per cent. In the near future, negotiations between the US and its trading partners, as well as geopolitical developments, will determine market direction. 'The Nifty has once again approached the support zone of its short-term moving average—the 20-day EMA—which currently lies around the 24,800 mark. A decisive break below this level could lead the index back into a consolidation phase. Given the prevailing uncertainty, we recommend maintaining strict stop-losses in short-term trades, particularly in the mid-cap and small-cap space. It is also advisable to avoid aggressive long positions until a clearer directional trend emerges,' said Ajit Mishra, senior vice-president – research, Religare Broking. Barring three, all Sensex constituents declined. Larsen & Toubro, which fell 2.2 per cent, was the biggest contributor to the Sensex decline, followed by Infosys, which dropped 1.4 per cent. The market breadth was weak, with 2,780 stocks declining and 1,226 advancing.
Economic Times
7 hours ago
- Economic Times
Finance Ministry eases rules for bonus share issue by companies in FDI-barred sectors
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The finance ministry has amended rules to allow Indian companies, engaged in sectors where the foreign direct investment (FDI) is barred, to issue bonus shares to their pre-existing non-resident the stakes of such shareholders must remain unchanged even after the bonus share issue, the ministry said while notifying the Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2025. The new rules take effect from June move, experts said, will allow the companies flexibility to go for equity restructuring and also improve capital management without breaching the extant FDI policy The notification comes after a similar relief was announced in the FDI policy in April by the Department for Promotion of Industry and Internal Trade (DPIIT) in ministry has now brought about the change by introducing a new sub-rule in the Foreign Exchange Management (Non-debt Instruments) Rules, notification also said any 'bonus shares issued to such shareholders prior to the date of commencement of this sub-rule shall be deemed to have been issued in accordance with the provisions of these rules' or some other related move is part of the broader government efforts to further liberalise the rules on equity investments to enable India to attract more foreign Jhunjhunwala, Sandeep Jhunjhunwala, partner at Nangia Andersen LLP, said the notification makes it clear that 'bonus issues done in the past would (also) get a retrospective benefit of this clarificatory amendment'.It also aims to remove any ambiguity over the retrospective application of such a relaxation introduced in the FDI policy by the DPIIT in April, he added. The ambiguity had arisen due to the fact that FDI rule changes are usually implemented secretary Ajay Seth had in February told ET that the finance ministry and the Reserve Bank of India were in talks to further ease foreign exchange rules, especially with regard to non-debt instruments, and update them to modern that sector-specific limits for FDI have already been substantially relaxed, the government is turning its attention to easing restrictive regulations to woo foreign investors amid global scaled a peak of almost $85 billion in FY22, total FDI inflows into India fell over two years to touch $71 billion in FY24. It again rebounded to $81 billion last fiscal.
