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Business Standard
an hour ago
- Business Standard
Market rallies on easing Middle East tensions; Nifty closes above 25,200
Equity benchmarks ended sharply higher on Wednesday, buoyed by positive global cues as investor sentiment improved following signs of a tentative ceasefire between Israel and Iran. A strong showing by IT and consumer durables stocks helped push the indices higher. The S&P BSE Sensex surged 700.40 points (0.85%) to close at 82,755.51, while the Nifty 50 jumped 200.40 points (0.80%) to 25,244.75. Over the two consecutive sessions, the Sensex has gained 1.05%, and the Nifty has climbed 1.09%. Infosys (up 2.15%), Reliance Industries (up 1.19%) and HDFC Bank (up 0.99%) boosted the indices. In the broader market, the S&P BSE Mid-Cap index rose 0.63% and the S&P BSE Small-Cap index added 1.59%. The market breadth was strong. On the BSE, 2,821 shares rose and 1,207 shares fell. A total of 134 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 4.98% to 12.96. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.62% to 6.290 from the previous close of 6.247. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.0450 compared with its close of 86.0500 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.28% to Rs 97,290. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 98.06. The United States 10-year bond yield rose 0.16% to 4.297. In the commodities market, Brent crude for August 2025 settlement rose 66 cents or 0.98% to $67.80 a barrel. Global Markets: European shares declined on Wednesday as investors will be keeping a close eye on French consumer confidence and Spanish gross domestic product figures, as well as developments in the Middle East, where a fragile ceasefire between Israel and Iran remains in focus. Meanwhile, the NATO summit in the Netherlands concludes Wednesday, with the alliances 32 member states expected to issue a formal joint statement on hiking their defense spending target from 2% to 5% by 2035. Asian shares advanced as investors digested news of a potential ceasefire between Israel and Iran alongside fresh signals from the U.S. Federal Reserve. Optimism is building around a U.S.-brokered truce, with President Donald Trump reportedly playing a key role in facilitating the agreement. On Wall Street, sentiment was upbeat overnight. All three major indices ended higher, buoyed by easing geopolitical tensions and dovish hints from the Fed. The Dow Jones Industrial Average rose 1.19%, the S&P 500 added 1.11%, and the tech-heavy Nasdaq climbed 1.43%. Fed Chair Jerome Powell, speaking Tuesday, struck a cautious but calm tone. He reaffirmed the central banks focus on curbing inflation but noted that policymakers were in no rush to tweak rates. Powell said the Fed was "well positioned to wait to learn more about the likely course of the economy" before making any moves, especially as the impact of tariffs on pricing remains uncertain. Stocks in Spotlight: Exicom Tele-Systems spurted 11.71% after the company's board approved Rs 260 crore rights issue. Details will be finalised by a committee. The board also approved the conversion of an unsecured loan of approximately Rs 283.20 crore, including accrued interest, into equity shares of its wholly owned subsidiary, Exicom Power Solutions B.V., Netherlands. The move is intended to reduce interest outflows, ease working capital pressure, and enhance liquidity at the subsidiary, which operates in the EV sector. Reliance Infrastructure hit an upper limit of 5% after the company announced securing an export order worth Rs 600 crore from Rheinmetall Waffe Munition GmbH, a German defence and ammunitions manufacturer. Surya Roshni rose 3.19% after the company announced a fresh order win worth Rs 75.40 crore from Gujarat Gas. Dee Development Engineers rallied 3.43% after the company announced that it has bagged a purchase order worth $10 million from a customer for providing piping fabrication work. Gland Pharma rose 0.53%. The company announced that it has received an Establishment Inspection Report (EIR) from the U.S. Food and Drug Administration (USFDA), indicating the closure of the inspection at its Visakhapatnam facility. Aurobindo Pharma advanced 1.46% after the company said that its wholly owned step-down subsidiary CuraTeQ Biologics s.r.o. obtained marketing authorization from the UK's Medicines and Healthcare products Regulatory Agency (MHRA) for Dyrupeg. Hindalco Industries rose 0.37%. The company said that its step-down wholly owned subsidiary, Aditya Holdings LLC has signed definitive agreement with AluChem Companies to acquire 100% stake for total consideration of $125 million. RITES rose 1.16% after the company announced that it has received a letter of intent (LoI) from Gujarat Urban Development Company (GUDC) for a project valued at Rs 28.5 crore. Rashtriya Chemicals & Fertilizers (RCF) jumped 1.02% after the companys board approved a proposal to raise Rs 300 crore through debt securities on a private placement basis. Adani Total Gas (ATGL) rose 0.29%. The company announced a strategic partnership with Jio-bp, the joint venture between Reliance Industries and bp Mobility, to transform the auto fuel retail experience in India. New Listing: Shares of ArisInfra Solutions settled at Rs 174.10 on the BSE, a discount of 21.58% as compared with the issue price of Rs 222. The scrip was listed at Rs 209.10, a discount of 5.81% to the issue price. The stock has hit a high of 209.10 and a low of 171.50. On the BSE, 19.31 lakh shares of the company were traded in the counter. IPO Update: The initial public offer (IPO) of HDB Financial Services received bids for 4,81,42,080 shares as against 13,04,42,855 shares on offer, according to stock exchange data at 16:51 IST on Wednesday (25 June 2025). The issue was subscribed 0.37 times. The issue opened for bidding on Wednesday (25 June 2025) and it will close on Friday (27 June 2025). The price band of the IPO is fixed between Rs 700 and 740 per share. An investor can bid for a minimum of 20 equity shares and in multiples thereof. Globe Civil Projects' IPO received bids for 17,78,55,065 shares as against 1,17,32,392 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (25 June 2025). The issue was subscribed 15.16 times. The issue opened for bidding on Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 67 and 71 per share. An investor can bid for a minimum of 10 equity shares and in multiples thereof. Ellenbarrie Industrial Gases' IPO received bids for 47,05,475 shares as against 1,51,08,983 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (25 June 2025). The issue was subscribed 0.31 times. The issue opened for bidding Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 380 and 400 per share. An investor can bid for a minimum of 37 equity shares and in multiples thereof. Kalpataru's IPO received bids for 78,81,552 shares as against 2,28,26,516 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (25 2025). The issue was subscribed 0.35 times. The issue opened for bidding on Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 387 and 414 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof. Sambhv Steel Tubes' IPO received bids for 2,93,70,068 shares as against 4,92,06,100 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (25 June 2025). The issue was subscribed 0.60 times. The issue opened for bidding Wednesday (25 June 2025) and it will close on Friday (227 June 2025). The price band of the IPO is fixed between Rs 77 and 82 per share. An investor can bid for a minimum of 182 equity shares and in multiples thereof.
Business Standard
an hour ago
- Business Standard
Quick Wrap: Nifty Media Index gains 1.99%
Nifty Media index closed up 1.99% at 1763.15 today. The index has gained 4.00% over last one month. Among the constituents, Network 18 Media & Investments Ltd added 15.21%, Hathway Cable & Datacom Ltd gained 5.87% and Tips Music Ltd rose 2.21%. The Nifty Media index has fallen 11.00% over last one year compared to the 6.42% increase in benchmark Nifty 50 index. In other indices, Nifty IT index gained 1.64% and Nifty India Consumption index gained 1.22% on the day. In broad markets, the Nifty 50 recorded a gain of 0.80% to close at 25244.75 while the SENSEX recorded a gain of 0.85% to close at 82755.51 today.
India Gazette
an hour ago
- India Gazette
Indian markets closed at highest level of 2025, Sensex closes at 82,755 and Nifty at 25,245
New Delhi [India] June 25 (ANI): India's equity benchmarks closed the day on a high note, marking its highest closing level in 2025, fuelled by 'easing geopolitical tensions' in the Middle East the end of the trading session on Wednesday, BSE Sensex settled at 82,755.51, adding 700.40 points or 0.85 per cent, while Nifty 50 at National Stock Exchange (NSE) was up 200.40 points or 0.80 per cent at 25,244.75. Experts say market sentiment comes from easing geo-political tensions. 'Indian equity markets have staged a recovery, supported by easing geopolitical tensions in the Middle East and a moderation in crude oil prices,' said Vinod Nair, Head of Research, Geojit Investments a sectoral perspective, Nifty Media stood out as the top gainer for the day, followed by Nifty IT and the Nifty mid and small Healthcare sector. On the other hand, Nifty Private Bank registered a slight decline for the day. 'Large-cap stocks, especially in IT and auto, are outperforming, aided by a strong dollar and improved risk appetite. Domestically, a favourable monsoon forecast, and moderating inflation are further underpinning the optimism,' Vinod Nair further Wednesday, out of 2,990 stocks, 2,135 stocks traded upwards, while 776 stocks went downwards and only 79 stocks were unchanged for the De, Senior Technical Analyst at LKP Securities noted, 'The Nifty remained highly volatile as updates from the Middle East crisis zone impacted Indian equities. However, the overall sentiment remains positive, with a possibility of a rise towards 25,350. Immediate support is placed at 25,000; a break below this level could lead to a drift towards 24,850. On the other hand, if the index holds above 25,000, strength may persist, and the sentiment could favour long traders.'Shrikant Chouhan, Head Equity Research, Kotak Securities, noted, 'Technically, after a gap-up open, the market held its positive momentum throughout the day. A bullish candle on daily charts and an uptrend continuation formation on intraday charts indicate a further uptrend from the current levels.'Defence stocks were the top loser of the day, down 2 per cent. But most of the sectoral indices ended in green with auto, consumer durables, IT, telecom, healthcare and media up between one to two per cent. (ANI)
