Markets trade higher in early deals tracking rally in Asian peers
Japan securing a trade deal with the US propelled a rally in Asian markets, which in turn added to optimistic trend in domestic equities, an expert said.
The 30-share BSE Sensex climbed 288.64 points to 82,475.45 in initial trade. The 50-share NSE Nifty went up by 88.95 points to 25,149.85.
From the Sensex firms, Tata Motors, Maruti, Eternal, Mahindra & Mahindra, Adani Ports and Bharti Airtel were among the biggest gainers.
However, Titan, State Bank of India, HDFC Bank and Hindustan Unilever were among the laggards.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng traded in positive territory.
'Asian cues are positive due to Japan securing a trade deal with the US," Akshay Chinchalkar, Head of Research, Axis Securities, said.
The US markets ended mostly higher on Tuesday.
'The 11th new record high for 2025 set by S&P 500 yesterday is an indication of the direction and resilience of equity markets globally. Markets are climbing all walls of worries and valuation concerns have been put on the back burner. In the near-term this resilience is likely to continue," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
A significant takeaway from the early Q1 results is the improving prospects of banking and digital stocks. Q1 results of Eternal and Paytm indicate steady growth potential of the digital stocks which have a long runway of growth, he added.
US President Donald Trump has announced a trade deal with Japan, with a 15 per cent tax on goods imported from that nation.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,548.92 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs) bought stocks worth Rs 5,239.77 crore in the previous trade.
Global oil benchmark Brent crude climbed 0.23 per cent to USD 68.75 a barrel.
On Tuesday, the Sensex ended 13.53 points or 0.02 per cent down at 82,186.81. The Nifty dipped 29.80 points or 0.12 per cent to settle at 25,060.90. PTI SUM HVA
view comments
First Published:
July 23, 2025, 10:00 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
27 minutes ago
- Economic Times
CBDT to ramp up AI-led crackdown on tax evasion ahead of new income tax law: Chairman Ravi Agrawal
IANS CBDT chairman Ravi Agrawal New Delhi: The Central Board of Direct Taxes (CBDT) aims to step up its crackdown on evasion through the greater use of data analytics and artificial intelligence (AI) to identify discrepancies in the reporting of income, chairman Ravi Agrawal said in an interview. This is in preparation for the new income tax law that's set to be approved by the Parliament in the current session. With access to over 6.5 billion domestic digital transactions and the exchange of information with overseas agencies, the Income Tax Department is poised to detect evasion more effectively, Agrawal said. He allayed concerns over powers that tax authorities have to access digital records. This is strictly restricted to search and seizure operations where taxpayers refuse to share information, and are not aimed at snooping on ordinary taxpayers, he said."The next phase of AI usage would be more intense, with reporting agencies providing more mature data for carrying out detailed analytics to identify evaders and hit the right targets," he Income Tax Department was proactively providing taxpayers with information about their financial transactions to encourage voluntary compliance. As many as 11 million updated returns have been filed, resulting in an additional tax mop-up of more than ₹11,000 crore, with the rollout of this facility since April 1, 2022. A recent nudge campaign led to withdrawal of tax deduction claims worth ₹963 crore, and the payment of ₹409.50 crore additional taxes between April 1, 2023, and June 18, 2025. A total of 30,161 taxpayers declared ₹29,208 crore of foreign assets and foreign income of ₹1,089 crore between November 2024 and March 31, 2025.'This was the result of analytics,' Agrawal said. 'We were able to carry out a pan-India operation.'The clear message from the tax authorities is that the department is non-intrusive and a facilitator but is keeping watch, said the CBDT chairman. A similar campaign will be rolled out this year using fresh data sets, he noted that the data received under various information exchange agreements had improved over the past two years. 'The quality of information has improved because they have also understood our requirements and it is helping us identify taxpayers that hold foreign assets,' he said. There is an emphasis on regular updates, as technology evolves to tackle areas such as the dark web, crypto and other new forms of said India is 'actively participating and contributing' to discussions at global forums on the Crypto-Asset Reporting Framework. 'India's voice in all these platforms is being heard. We are deliberating as to how best we can actually exchange information,' he said, adding that the country had already enabled this through regulation. The CBDT chairman said digitisation has helped expand the taxpayer base to 90 million in FY25, from 30 million in FY14. Data showed that gross refunds issued increased by 474% — from Rs 83,008 crore in FY14 to Rs 4.76 lakh crore in FY25 — with the average refund processing time dropping to 17 days, from 93 22% of income tax returns were processed within a day, and 26% in two to seven department is collating annual data on about 6.5 billion transactions to prepare pre-filled forms for about 400 million taxpayers, with 99% of them agreeing with the information provided. 'As a country we should appreciate the background effort in pre-population of ITRs, which is prompting taxpayers towards compliance,' he said. With the Parliament select committee submitting a report on the new income tax bill, the real work for the department starts now. 'The bill is the first step, and associated with this will be rules, forms and capacity building,' said Agrawal. 'This is a transition for the I-T Department, as well as for taxpayers.' The immediate focus would be to gear up the department for the massive transformation expected, with the new law that takes effect April 1, 2026.
Mint
27 minutes ago
- Mint
Best mid-cap stocks to buy today, 24 July, recommended by NeoTrader's Raja Venkatraman
All eyes will be on reaction to the Q1 earnings from Infosys, Dr. Reddy's Labs and Tata Consumer Products, with stock-specific swings set to steal the spotlight. Traders will juggle momentum-driven gains and selective profit-taking as they position ahead of key macro data later this week. Here are three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader for Thursday, 24 July: Southern Petrochemicals Industries Corp. Ltd: Buy CMP and dips to ₹85 | Stop ₹82 | Target ₹98-102 Olectra Greentech Ltd: Buy CMP and dips to ₹1,280 | Stop ₹1,265 | Target ₹1,450-1,480 Mahindra Holidays and Resorts India Ltd: Buy CMP and dips to ₹352 | Stop ₹345 | Target ₹400-420 Market update Wednesday saw robust gains on India's equity markets, fuelled by positive cues from Asia after a landmark US-Japan trade agreement. By 1:23pm IST, the BSE Sensex climbed 321 points to 82,508, while the NSE Nifty added 95 points, reaching 25,156. Japanese equities led regional advances, and the MSCI Asia-Pacific Index (ex-Japan) rose 0.7%. US treasury secretary Scott Bessent's announcement that American and Chinese officials will meet in Stockholm next week to discuss extending the 12 August trade-talk deadline further lifted sentiment. The prospect of easing global trade frictions has mitigated macroeconomic uncertainty, supporting risk appetite. Despite these gains, expectations for an interim India-US trade deal remain subdued, as tariff disputes on key agricultural products persist. Domestically, attention is turning to first-quarter corporate earnings, with Infosys, Dr. Reddy's Laboratories, and Tata Consumer Products poised to deliver results that could drive stock-specific volatility through the remainder of the week. Outlook for trading Volatility was the key feature of the market throughout this week, and the market was whipped around quite a bit as global trends were the main drivers of the sentiment. There really wasn't much by way of local news flow to contain the volatility induced. The moves were also reasonably large, creating sufficient moves to bring people in—only to get knocked out the following day! Trading, therefore, was quite difficult through the week, and it would have been a wonder if one came out largely unscathed in the week. The rally after a strong decline in the middle of the week does restore some confidence, but the swift recovery from lower levels is signalling that the highs will once again be challenged. The attempts continue to emerge as the market tries to carve out a bullish possibility. As we head into the last trading day of the week, we could experience some profit booking as we are not nearing an important inflexion zone. However, the trends are still circumspect, and we are witnessing limited market participation. The Nifty now seeks to contest the resistance around the 25,300 mark, while the Nifty Bank aims to clear 57,500 to clear the air of uncertainty. Volatility is now part of the ever-changing market scenario as the sentiment keeps changing. Risk management is critical, as the lack of clarity is greater than ever. The Nifty is showing a resolve now to move higher as it has once again closed above 25,200, which acts as a big hurdle and is also the Max Pain point. An interesting point to note is that the bullish revival is seen as the PCR has stepped above 1. With the Open Interest data clearly indicating a revival, one should keep tracking a 30-minute range breakout on Thursday, as it continues to be an important metric for creating some longs. As indices are not showing much decline, one should look to encash some stock-specific action. Three stocks to trade, recommended by NeoTrader's Raja Venkatraman: SPIC (Cmp 88.36) Why it's recommended: India's fertilizer companies are performing well. The company has shown good profit growth of 19.24% over the past three years and 47.5% CAGR over the last five years. This counter has simultaneously been showing some improvement after the strong decline into cloud support and generated a buy opportunity yesterday. After a push above the clouds, we can see that the stock is set for a turnaround. Go long. Key metrics: P/E: 13.78 | 52-week high: ₹96.50 | Volume: 1.64M. Technical analysis: Support at ₹80, resistance at ₹110. Risk factors: Delays in government subsidy receipts and market collections. Disruptions to interactions with farmers. Buy at: CMP and dips to ₹85. Target price: ₹98-102 in 1 month. Stop loss: ₹82. OLECTRA (Cmp 1327.30) Why it's recommended: OLECTRA has shown a V-shaped recovery, indicating that the trends in this counter look strong for some positive traction ahead. The prices have been moving in oscillation, forming a V-shaped recovery, and the recent move out of the consolidation augurs well for the prices. You can look to go long. Key metrics: P/E: 78.08 | 52-week high: ₹1,786.65 | Volume: 1.75M. Technical analysis: Support at ₹1,170, resistance at ₹1,600. Risk factors: Order cancellations and delays, and debt servicing capacity due to increased borrowings. Buy at: CMP and dips to ₹1280. Target price: ₹1,450-1,480 in 1 month. Stop loss: ₹1,265. MHRIL (Cmp 367.25) Why it's recommended: The counter has been undergoing some consolidation and has formed a rounding pattern after facing intense selling pressure for more than eight weeks. The prices hit a consolidation zone at cloud support, indicating that a positive turnaround is emerging. After the recent test of the TS & KS Bands, with a strong closing on Wednesday post results, we can look at some positive vibes emerging. Key metrics: P/E: 36.96 | 52-week high: ₹494.95 | Volume: 1.32M. Technical analysis: Support at ₹330, resistance at ₹450. Risk factors: Supplier retention and potential customer preferences, regulatory challenges. Buy at: CMP and dips to ₹352. Target price: ₹400-420 in 1 month. Stop loss: ₹345. Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
27 minutes ago
- Mint
Best stock recommendations today: MarketSmith India's top picks for 24 July
Indian equity benchmarks closed on a strong note on 23 July, with the Nifty gaining 159 points or 0.63% to settle at 25,219.90. The recovery was largely supported by strength in major banking stocks, while heavyweight stocks across other key sectors showed signs of stabilising. However, the IT sector remained under pressure, continuing its gradual decline. Two stock recommendations for today by MarketSmith India Manorama Industries Ltd.(current price: ₹1,585) K.P.R. Mill Limited (current price: ₹1,230) How the market performed on 23 July Nifty traded with a positive bias, gaining over half a percent and providing some respite after recent losses. After a modest start, the index remained range-bound in the first half of the session. However, buying in select heavyweight stocks, particularly in the banking and financial sectors, lifted the index higher. It moved closer to the previous swing high near 25,250 before closing at 25,219.90. The advance-decline ratio was balanced at 1:1, reflecting neutral market breadth. The index continues to trade between its 50- and 21-DMA, indicating consolidation within a defined range. On the daily chart, the relative strength index (RSI) has turned upward and is nearing 52, suggesting early signs of a potential reversal. However, the daily MACD remains in a downtrend with a negative crossover above the zero line, reflecting that underlying bearish sentiment still lingers. According to O'Neil's methodology of market direction, market status has been downgraded to an "Uptrend Under Pressure" as Nifty breached its "50-DMA" and the "distribution day count" rose to five. The index closed above 25,200 and continued to trade above its 50-DMA, indicating a potential pullback rally. For bullish momentum to resume, a decisive breakout and sustained close above 25,300 will be crucial. On the downside, failure to hold above 24,900 may trigger further weakness, with key support levels seen at 24,750 and 24,500 in the coming sessions. How did Nifty Bank perform? Nifty Bank opened on a strong note and traded in positive territory throughout the session, reflecting sustained buying interest. The index successfully reclaimed its 21-DMA, indicating a potential shift in short-term sentiment. On the technical front, a bullish candle was formed on the daily chart, with a higher-high and higher-low price structure. This pattern suggests strengthening momentum and the possibility of further upside. Overall, the day's price action was technically constructive, reinforcing a positive outlook for the index. The momentum indicator, RSI, has inched higher and is currently positioned at 57, indicating mild strengthening. Meanwhile, the MACD continues to trade above its central line, despite maintaining a negative crossover. This setup reflects a mixed momentum outlook, with early signs of recovery tempered by caution. According to O'Neil's methodology of market direction, Bank Nifty remains in a 'Confirmed Uptrend', a status it has maintained over the past few weeks. Nifty Bank is currently trading well above its 50-DMA and has reclaimed its 21-DMA, reflecting a positive undertone. If the prevailing buying momentum persists, the index may gradually advance toward 57,500–57,600 in the near term. Conversely, a sustained close below 56,200 could trigger an additional downside, with potential support near 55,000. MarketSmithIndia is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil IndiaPvt. Ltd. Sebi Registration No.: INH000015543 Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
