logo
Bank stocks, FII outflows drag markets lower

Bank stocks, FII outflows drag markets lower

Hans India19-07-2025
Mumbai: Benchmark Sensex tanked 501 points while Nifty closed below the 25,000 mark on Friday due to selling in banking shares after muted quarterly earnings and foreign fund outflows.
Falling for the second straight day, the 30-share BSE Sensex declined by 501.51 points or 0.61 per cent to settle at 81,757.73. During the day, it shed 651.11 points or 0.79 per cent to hit a low of 81,608.13. The 50-share NSE Nifty dropped 143.05 points or 0.57 per cent to close at a month's low of 24,968.40.
Analysts said investors turned cautious over banking stocks in response to Axis Bank's latest financial results, which fell short of market expectations. Among Sensex firms, Axis Bank tumbled the most by 5.24 per cent after it reported a 3 per cent dip in its June quarter consolidated net profit at Rs 6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policy.
Devarsh Vakil, Head of Prime Research, HDFC Securities, said Axis Bank's latest financial results fell short of market expectations. 'Notably, Axis Bank's GDR tumbled 4.8 per cent to USD 64.30 on Thursday, following a deterioration in the bank's asset quality during the June quarter,' he said.
Among blue-chip bank stocks, Axis Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India ended lower. Following the decline in bank stocks, the BSE Bankex ended 1.33 per cent lower at 62,741.65. Bharat Electronics, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Titan and Eternal were also among the laggards from the Sensex pack. However, Bajaj Finance, Tata Steel, ICICI Bank, HCL Tech and Infosys were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,694.31 crore on Thursday, according to exchange data.
'A broad-based sell-off was observed amidst a disappointing initial set of earnings from the finance and IT sectors.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Eicher Motors Q1 Results: Cons PAT rises 9% YoY to Rs 1,205 crore, revenue jumps 15%
Eicher Motors Q1 Results: Cons PAT rises 9% YoY to Rs 1,205 crore, revenue jumps 15%

Economic Times

time9 minutes ago

  • Economic Times

Eicher Motors Q1 Results: Cons PAT rises 9% YoY to Rs 1,205 crore, revenue jumps 15%

Eicher Motors on Thursday reported a 9% growth in its Q1FY26 consolidated net profit at Rs 1,205 crore versus Rs 1,101 crore in the year ago period. The profit after tax (PAT) is attributable to the owners of the company. ADVERTISEMENT The Royal Enfield maker reported revenue from operations stood at Rs 5,042 crore which was up 15% from Rs 4,393 crore reported in the corresponding quarter of the last financial year. The PAT was down 11% on a sequential basis versus Rs 1,362 crore reported in Q4FY25 while the topline fell 4% versus Rs 5,241 crore in the January-March quarter. Eicher Motors Q1 expensesThe company reported expenses of Rs 4,052 crore in Q1FY26 versus Rs 4,200 crore in Q4FY25 and Rs 3,409 crore in Q1FY25. The expenses were made on raw material cost, finance cost and employee expenses, among other things. Royal Enfield Q1 sales During the quarter, Royal Enfield recorded sales of 261,326 motorcycles, marking a growth of 14.7% from 227,736 motorcycles sold during Q1 FY 2024-25. ADVERTISEMENT Revenue from operations in Q1 FY2025-26 stood at Rs 5,671 crores, up 11.9% from Rs 5,070 crores in the same quarter of FY 2024-25. EBITDA for the first quarter rose 32.6% to Rs 511 crores, from Rs 385 crores a year ago. VECV sold 21,610 vehicles in the first quarter, up from 19,702 vehicles a year ago. Talking about Eicher Motors' performance, Managing Director B Govindarajan said that At Eicher Motors, the company had a solid start to the year, with encouraging growth across both Royal Enfield and VECV. "We continue to build consistent momentum in volumes, profitability, and the strength of our overall portfolio. At Royal Enfield, we have sustained our growth momentum in the first quarter, anchored by our continued focus on product innovation, immersive riding experiences, and a deeper expression of pure motorcycling. The refreshed Hunter 350 continues to be a key marker of growth for us, both in terms of volumes and community engagement," said Govindarajan, who is also CEO of Royal Enfield. ADVERTISEMENT "Moving ahead on our global ambition, we further strengthened our reach in the SAARC region and expanded our portfolio in Nepal with the locally assembled Classic 350. With a refreshed pipeline of motorcycles and a growing ecosystem of curated rides and culture-first experiences, we are shaping a vibrant and inclusive motorcycling movement," he said that VECV, too, has delivered consistent growth, anchored in a strong product portfolio and a sharp understanding of India's evolving commercial mobility needs. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)

Kerala adds Rs 20 deposit on liquor bottles, refundable on return to reduce waste
Kerala adds Rs 20 deposit on liquor bottles, refundable on return to reduce waste

India Today

time9 minutes ago

  • India Today

Kerala adds Rs 20 deposit on liquor bottles, refundable on return to reduce waste

In a bid to tackle the growing issue of plastic waste, the Kerala government has announced a new bottle-return initiative for liquor bottles sold at its Kerala State Beverages Corporation (Bevco) with a pilot project in September, an additional Rs 20 will be charged on liquor sold in both plastic and glass bottles. The amount will be refunded when customers return the bottles to the outlet, the excise department Minister MB Rajesh clarified that this Rs 20 should not be seen as an extra charge, but rather an investment in responsible consumption. A QR code will be affixed on each bottle to facilitate tracking and refunds. Of the 70 crore liquor bottles sold annually in Kerala, 80 per cent are plastic. 'This will help reduce the number of bottles dumped on the streets,' the minister said. As part of a broader sustainability push, the department has also decided that all liquor priced above Rs 800 will now be sold only in glass project, launched in partnership with Clean Kerala Company, will begin in Thiruvananthapuram and Kannur. The state drew inspiration from Tamil Nadu, where a similar bottle-return system has already been implemented the excise department is also set to open Bevco's first-ever super premium outlet in Thrissur on August 5. These outlets will stock foreign liquor priced above Rs 900, with plans to launch one such outlet in every district.- EndsTune InMust Watch IN THIS STORY#Kerala

Trump's 25% tariff threat puts India–US trade on edge
Trump's 25% tariff threat puts India–US trade on edge

India Today

time9 minutes ago

  • India Today

Trump's 25% tariff threat puts India–US trade on edge

WHAT'S NEWUS President Donald Trump has threatened to impose a 25% tariff on Indian imports from August 1, citing India's continued purchases of Russian oil and long-standing high trade IT MATTERSThe move targets some of India's most valuable and highshare export categories to the US, from pharmaceuticals and diamonds to textiles and tea. India runs a USD 45.7 billion goods trade surplus with the US, making Washington's tariff decision a major risk for exporters. New duties could disrupt billions in two-way trade and force India to adjust its US market strategy. advertisementIN NUMBERS$129.2B — Total India–US goods trade in 2024.$87.4B — US imports from India in 2024 (+4.5% from 2023).$45.7B — US goods trade deficit with India in 2024.35% — Russia's share of India's oil imports in Jan–Jun 2025.44.5% — Share of US diamond imports sourced from India.$13B — US imports of Indian pharmaceuticals in DEPTH The White House's tariff warning comes as part of a broader trade push targeting dozens of countries, with rates on some imports climbing as high as 50%. While Trump says "India is our friend," he accuses New Delhi of maintaining some of the world's highest tariffs and of deepening ties with Moscow despite the war in economic relationship with Russia is longstanding, spanning oil and gas, steel, railways, defence and pharmaceuticals. In the year ending March 2025, bilateral trade hit a record USD 68.7 billion, with Russian crude making up more than a third of India's oil US is India's largest export market. Some of the most exposed sectors under Trump's 25% threat include:Pharmaceuticals — $13B in 2024 US imports from India (5.3% of total).Diamonds — $6.7B, but 44.5% of all US diamond — Rugs (35.1%), cotton goods (44.5%), apparel (14%).Tea & Spices — 14.5% of the US market share. Even small changes in tariff rates could shift buying patterns in these concentrated markets, where India PICTURETrump's proposed duties on India are part of a sweeping tariff expansion. The administration is applying new or higher rates on steel, aluminium, autos, copper parts, and more. Canada, Mexico, Malaysia, Thailand, and other nations are also under threat. For India, the stakes are strategic as well as economic. U.S. tariffs could weaken export competitiveness, while a refusal to curb Russian oil purchases could invite further penalties. New Delhi is exploring ways to ease tensions, including boosting U.S. imports, but has ruled out any immediate THEY SAID'While India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high.' — Donald Trump, Truth Social.- EndsTune InMust Watch

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store