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Stock Market Close Highlights: Sensex falls 400pts, Nifty ends at 24,273 as India-Pak tensions rise
Sensex Today | Stock Market Close Highlights: Among the sectoral indices auto, energy, FMCG, realty, metal, pharma. oil & gas settled in red
8:53 AM
Stock Market LIVE Updates: 'Dip in buying after the opening bell yesterday shows bias remains bullish'
Stock Market LIVE Updates: "The nifty ended flat yesterday but the dip in buying that emerged immediately after the opening bell shows that the bias remains bullish, even though geopolitical risks remain high. Support lies in the 24,000-24,200 area while resistance covers the 24,510 to 23,589 zone."
Views by: Akshay Chinchalkar, Head of Research, Axis Securities
8:38 AM
Stock Market LIVE Updates: Virtual Galaxy Infotech IPO opens on May 9: Here's all you need to know
Stock Market LIVE Updates: Virtual Galaxy Infotech's initial public offering (IPO) is set to open for subscription tomorrow, Friday, May 9, 2025.
The Nagpur-based firm intends to raise ₹93.29 crore through the issuance of 6.57 million new equity shares. The IPO does not include any offer for sale (OFS) component.
The company has allocated approximately 50 percent of the offering to qualified institutional buyers (QIBs), 35 percent to retail investors, and 15 percent to non-institutional investors (NIIs).
8:11 AM
Stock Market LIVE Updates: Tata Motors, SRF, and Bajaj Finance are top stocks to buy today; here's why
Stock Market LIVE Updates: Buy: Tata Motors
Following a breakout from a multi-week consolidation, TATAMOTORS shows increasing volume alongside its upward price movement, signaling renewed buying interest. We anticipate a near-term rally in the stock.
8:09 AM
Stock Market LIVE Updates: DIIs overtake FPIs as dominant investors in Indian markets in March quarter
Stock Market LIVE Updates: As of March 2025, domestic institutional investors (DIIs), mainly mutual funds and insurance firms, have become the leading shareholders in India's equity market, marking a notable change. Data from Prime Database reveals that DIIs held a 17.62 percent stake in National Stock Exchange (NSE)-listed companies, slightly exceeding the 17.22 percent held by foreign portfolio investors (FPIs).
This is the first instance of DIIs surpassing FPIs in shareholding since tracking commenced in 2009, with the value of DII holdings reaching ₹71.76 trillion, 2 percent greater than that of FPIs. READ MORE
7:54 AM
Stock Market LIVE Updates: NSE receives in-principle approval from Sebi for electricity derivatives
7:49 AM
Stock Market LIVE Updates: Operation Sindoor: Prolonged strikes can sink markets, say analysts
Stock Market LIVE Updates: Analysts suggest that a protracted war or heightened tensions with Pakistan following Operation Sindoor, the Indian armed forces' retaliatory attack on Pakistan and Pakistan Occupied Kashmir (PoK), could trigger a market downturn. However, they anticipate a potential recovery if the measures remain targeted and tensions subsequently ease.
Aniruddha Sarkar, chief investment officer at Quest Investment Advisors, noted that historical trends indicate Indian markets have generally performed well during and even after border conflicts with Pakistan, suggesting a similar outcome might be expected this time. READ MORE
7:36 AM
Stock Market LIVE Updates: India grants UK access to £38 bn Indian procurement market under FTA
Stock Market LIVE Updates: As part of the newly concluded free trade agreement (FTA), India has made a notable concession to the United Kingdom (UK) by granting "legally guaranteed access" to its substantial government procurement market. The UK government estimates this will enable British businesses to compete for approximately 40,000 Indian tenders annually, valued at a minimum of 38 billion pounds.
According to a policy paper from the UK Department for Business & Trade, this agreement marks a first, allowing UK businesses to bid on a wide range of goods, services, and construction procurements across most of India's central government entities and several federal state-owned enterprises, with bidding thresholds lower than previously established. READ MORE
7:33 AM
Stock Market LIVE Updates: 13 killed, over 50 injured as Pak army pounds villages along LoC in J-K
Stock Market LIVE Updates: Following India's missile strikes on terror infrastructure in the neighboring country and PoK, the Pakistan Army initiated intense artillery and mortar shelling along the LoC in Jammu and Kashmir, resulting in the deaths of at least 13 people, including four children and a soldier, and injuring 57, officials reported on Wednesday.
This marked one of the most severe instances of shelling in years, forcing hundreds of border residents to seek shelter in underground bunkers or relocate to safer areas. The indiscriminate shelling by Pakistan caused widespread destruction in the worst-affected Poonch district and Rajouri in the Jammu region, as well as Baramulla and Kupwara in north Kashmir. Numerous houses, vehicles, and various buildings, including a Gurudwara, were damaged, triggering panic among the local population.
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The Hindu
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- The Hindu
ASBL to launch 50-storey residential project in Hyderabad's financial district
Hyderabad-based real estate developer ASBL is set to launch its latest residential project, Broadway, on June 14 in the Financial District. The project has received approval from the Real Estate Regulatory Authority (RERA), said a release. Spread across five acres, Broadway will feature three high-rise towers with G+50 floors, comprising a total of 885 three-bedroom apartments. The flats will range from 2,035 to 2,650 square feet, and the project is scheduled for completion and handover by December 2029. Ajitesh Korupolu, founder and CEO of ASBL, said: 'Since 2015, Mercer has ranked Hyderabad as India's most liveable city six times, highlighting its tranquillity, cosmopolitan appeal and safety. With Broadway, we aim to contribute to this standard by building a community that exemplifies comfort, connectivity, and modern urban living,'
India Gazette
an hour ago
- India Gazette
Centre reduces basic custom duty on major imported crude edible oils from 20% to 10%
New Delhi [India], June 11 (ANI): The central government on Wednesday reduced Basic Custom duty (BCD) on major imported crude edible oils from 20 per cent to 10 per cent. The Ministry of Consumer Affairs, Food and Public Distribution said in a release that the Centre has reduced the Basic Customs Duty on crude edible oils - crude sunflower, soybean, and palm oils - has been reduced from 20% to 10% resulting in the import duty differential between crude and refined edible oils from 8.75% to 19.25%. This adjustment aims to address the escalating edible oil prices resulting from the September 2024 duty hike and concurrent increases in international market prices. An advisory has been issued to edible oil associations and industry stakeholders to ensure that the full benefit of the reduced duty is passed on to consumers, the release said. It said 19.25 % duty differential between crude and refined oils will help to encourage domestic refining capacity utilization and reduce imports of refined oils. By lowering the import duty on crude oils, the government aims to reduce the landed cost and retail prices of edible oils, providing relief to consumers and helping to cool overall inflation. The reduced duty will also encourage domestic refining and maintain fair compensation for farmers. The revised duty structure will discourage the import of refined palmolein and redirect demand towards crude edible oils especially crude palm oil, thereby strengthening and revitalizing the domestic refining sector. 'This significant policy intervention not only ensures a level playing field for domestic refiners but also contributes to the stabilization of edible oil prices for Indian consumers,' a release said. A meeting with leading Edible Oil Industry Associations and industry was held under the Chairmanship of Secretary, Department of Food and Public Distribution, and advisory was issued to them to pass on the benefits from this duty reduction on to consumers. Industry stakeholders are expected to adjust the Price to Distributors (PTD) and the Maximum Retail Price (MRP) in accordance with the lower landed costs with immediate effect. The Associations have been requested to advise their members to implement immediate price reductions and share the updated brand-wise MRP sheets with the Department on a weekly basis. DFPD shared the format with edible oil industry for sharing the reduced MRP and PTD data. 'The timely transmission of this benefit to the supply chain is imperative to ensure that consumers experience a corresponding decrease in retail prices,' the release said. This decision comes after a detailed review of the sharp rise in edible oil prices following last year's duty hike. The increase led to significant inflationary pressure on consumers, with retail edible oil prices soaring and contributing to rising food inflation. (ANI)
India Gazette
an hour ago
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Indian Oil quadrupled fuel supply for armed forces during Operation Sindoor: Senior official
By Shafali Nigam Port Blair (Andaman and Nicobar) [India], June 12 (ANI): Indian Oil ensured seamless fuel supply to the Indian armed forces during Operation Sindoor from Andaman and Nicobar Islands, which went up at least four times, said Rakesh Kumar, Chief Terminal Manager (CTM) of Indian Oil Corporation (IOC). 'During Operation Sindoor, the demand from defence has gone up at least four times, and we were there to supply the product just as I told you earlier. We positioned our vessels from Paradip and Haldia refineries and met their demands just in time,' Indian Oil Corporation CTM said. Mentioning the demand during Operation Sindoor, he said, 'In case of need, just like a few months back, at the demand of the Indian Navy, we positioned our vessels from Paradip refinery and Haldia refinery at a notice of just three days.' Indian Oil demonstrated its strategic preparedness and operational efficiency and played a pivotal role in ensuring uninterrupted fuel supply during Operation Sindoor, the official said, adding that despite a fourfold increase in fuel demand from defence establishments, the state-owned oil PSU successfully met requirements by mobilising vessels from its mainland refineries within days. 'We have a very high level of good coordination with defence, almost on a daily basis. Since they are taking products from us, they have requirements. We interact with them on a weekly basis, and we hold meetings with their supply department as well,' he said about coordination with defence and security agencies in fuel supply or infrastructure planning. During a field visit to the Indian Oil POL Terminal in Port Blair, organised by the Ministry of Petroleum & Natural Gas for the press, when asked if there are any protocols in case of an emergency situation, Kumar said, 'In case of need, just like a few months back, at the demand of the Indian Navy, we positioned our vessels from Paradip refinery and Haldia refinery at a notice of just three days.' 'We are at the smart terminal of Indian Oil. Here, we have a tanking of 27,000 KL. We are dealing with four products over here, which are petrol, diesel, low-sulphur HFHSD and HSD,' he added. In response to the questions on emergency protocols in place for fuel shortages or natural disasters like cyclones or tsunamis, he said, 'We have emergency protocols. Sufficient tankage is there. On average, we have 25 days of coverage for all the products.' He said the state-run oil major is planning to expand services or upgrade existing infrastructure in the Andaman and Nicobar Islands. 'We have plans. This terminal is a 27 TKL terminal and a POL terminal. We have requested one more station and we are in an advanced stage of getting new land in Hope Town, where our bottling plant is situated,' he added. Speaking with ANI, V. Ranganathan, Chief General Manager from West Bengal State Office and Port Blair said, 'Port Blair is one of the unique locations where a lot of challenges are there with respect to logistics, as well as product availability.' (ANI)
