Zomato parent Eternal rallies 10% in early India trading
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
3 hours ago
- Reuters
India's equity benchmarks fall, dragged down by Bajaj Finance
July 25 (Reuters) - India's equity benchmarks fell in early trade on Friday, dragged down by Bajaj Finance on asset quality concerns, while investors weighed the newly signed trade pact with Britain that will cut tariffs on goods ranging from textiles to whisky and cars. The Nifty 50 (.NSEI), opens new tab fell 0.53% to 24,930.9 points and the BSE Sensex (.BSESN), opens new tab lost 0.45% to 81,807.28 as of 9:55 a.m. IST. Thirteen of the 16 major sectors logged losses. The broader small-cap (.NIFSMCP100), opens new tab and mid-cap (.NIFMDCP100), opens new tab indexes fell 0.8% and 0.5%, respectively. Bajaj Finance ( opens new tab dropped 5% as multiple brokerages flagged asset-quality stress in the MSME segment, despite the non-bank lender reporting a profit beat in the June quarter. It was the top decliner on the Nifty 50. Nestle India ( opens new tab lost 1%, extending a more than 5% slip on Thursday after posting a lower quarterly profit hurt by rising costs. "Market sentiment has turned cautious due to weak earnings in Bajaj Finance, IT and consumer stocks," said Hardik Matalia, analyst at Choice Equity Broking. Meanwhile, India and Britain signed a free-trade agreement (FTA) on Thursday during Prime Minister Narendra Modi's visit to London, sealing a deal to lower tariffs on goods from textiles to whisky and cars and allow more market access for businesses. Although the FTA should boost sentiment, the market is unlikely to see any major upside until there is clarity on U.S. trade negotiations, three analysts said. Bucking the trend, SBI Life Insurance ( opens new tab gained 2.5% after posting a higher quarterly profit driven by policy renewals. Trident ( opens new tab rose 4.7% after reporting a rise in first-quarter profit on lower expenses and on the back of the India-UK trade deal. Indian Energy Exchange ( opens new tab, which sank 30% on Thursday on fears of rising competition from new pricing rules, jumped 9%, aided by quarterly profit growth.
Reuters
3 hours ago
- Reuters
India's equity benchmarks open lower, dragged by Bajaj Finance
July 25 (Reuters) - India's equity benchmarks opened lower on Friday, dragged down by Bajaj Finance on asset quality concerns, while investors weigh a newly signed trade pact with Britain, which will cut tariffs on goods ranging from textiles to whisky and cars. The Nifty 50 (.NSEI), opens new tab fell 0.47% to 24,940.85 points and the BSE Sensex (.BSESN), opens new tab lost 0.42% to 81,829.3 as of 9:17 a.m. IST. Fifteen of the 16 major sectors declined at the open. The broader small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab fell 0.5% each. Non-bank lender Bajaj Finance ( opens new tab slid 5.1% as multiple brokerages flagged asset quality stress in the MSME segment after the company reported a profit beat in the June quarter. Bajaj Finance was the top Nifty 50 loser. Meanwhile, although the India-UK agreement should boost sentiment, the market is unlikely to see any major upside until there is clarity on U.S. trade negotiations, analysts said.
Reuters
5 hours ago
- Reuters
India's equity benchmarks to open flat as market weighs UK trade pact
July 25 (Reuters) - India's equity benchmarks are expected to open little changed on Friday as investors weigh the newly signed trade pact with Britain, which will cut tariffs of goods ranging from textiles to whisky and cars. The Gift Nifty futures were trading at 24,993.5 points as of 8:04 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open near Thursday's close of 25,062.1. "Signing of the India-UK FTA, which is expected to boost bilateral trade by about $34 billion annually, is hugely significant in the present context when India is eager to reach a deal with the U.S. on trade and tariffs," said VK Vijayakumar, chief investment strategist at Geojit Investments. Shares of textiles, automakers, leather, footwear and other companies will be in focus as UK exports become duty-free. While the India-UK agreement should boost sentiment, the market is unlikely to see major upside until there is clarity on U.S. trade negotiations, analysts said. India is making "fantastic" progress in talks with Washington, Commerce Minister Piyush Goyal told Reuters on Thursday, but played down the importance of deadlines. Earlier this week, two Indian government sources said prospects for an interim deal before U.S. President Donald Trump's August 1 deadline had dimmed amid deadlock over tariff cuts on key agricultural and dairy products. ** Bajaj Finance ( opens new tab beat analysts' estimate for quarterly profit on Thursday, as healthy loan growth countered a decline in the non-bank lender's asset quality ** Indian Energy Exchange ( opens new tab posts higher revenue and profit for the first quarter, driven by a nearly 15% increase in electricity volume. The stock tanked about 30% on Thursday on the regulator's market coupling norms ** SBI Life Insurance ( opens new tab posts higher profit in June quarter, thanks to healthy premiums from policy renewals
