Gold breaks past inflation-adjusted 1980 high in 2024; silver lags below 2011 peak: DSP Mutual Fund
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
20 minutes ago
- Economic Times
Carborundum Universal Q1 Results: Co reports net profit at Rs 60 crore
Carborundum Universal Ltd on Friday recorded a dip in its consolidated net profits at Rs 60.39 crore for the April-June 2025 quarter due to a decline in its sales in the abrasives business, the company said. ADVERTISEMENT The city-based manufacturer of industrial ceramics and abrasives had reported a net profit of Rs 114.84 crore during the corresponding quarter of the last financial year. For the year ending March 31, 2025 the net profits stood at Rs 298.71 crore, Carborundum Universal Ltd part of the diversified conglomerate Murugappa Group said in a statement here on Friday. The consolidated total income for the quarter under review grew to Rs 1,237.75 crore, from Rs 1,204.56 crore registered in the corresponding quarter of last financial total income for the financial year ending March 31, 2025 stood at Rs 4,935.22 from the electro-minerals division during the April-June 2025 quarter were at Rs 405 crore, witnessing a growth of 6.3 per cent. ADVERTISEMENT The abrasives division reported a decline of 8 per cent on the sales in April-June 2025 quarter to Rs 508 crore, the company said. The ceramics division during the quarter under review recorded sales of Rs 300 crore, up by 11.1 per cent over the corresponding quarter of last financial year, it added. (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
20 minutes ago
- Economic Times
Nifty logs longest weekly losing run since 2020 crash. Here's how
Indian markets extended losses for the sixth straight week—longest since April 2020—as US tariff hikes, weak earnings, and persistent FII outflows weighed on investor sentiment. Exporters, especially in textiles and seafood, were hit hardest amid trade tensions. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads FIIs dump Indian stocks Technical indicators point to more weakness Banking sector offers little respite Muted Q1 earnings add to gloom Tired of too many ads? Remove Ads India's benchmark indices, the Nifty 50 and Sensex, logged their sixth straight weekly loss, marking their longest losing streak since the COVID-19 crash of April 2020, as both fell nearly 5% since end-June, weighed down by U.S. tariff hikes, weak earnings, and relentless foreign investor outflows that triggered a broad-based Friday, the Nifty 50 fell 0.95% to 24,363.30, while the Sensex declined 0.95% to close at 79,857.79. For the week, they shed 0.8% and 0.9%, respectively. The continued decline reflects persistent selling pressure across sectors, with little sign of relief amid deteriorating global trade relations and muted domestic shock hits exportersExport-oriented stocks led the rout after U.S. President Donald Trump announced a sharp escalation in trade tensions, doubling tariffs on Indian exports to 50%. The move, retaliation for India's continued oil trade with Russia, delivered a fresh blow to investor Stanley warned the Indian seafood export industry alone could face a potential loss of Rs 24,000 crore. 'Indian textile and apparel exporters are halting US order manufacturing due to President Trump's tariff doubling to 50%, severely impacting their competitiveness against nations like Bangladesh and Vietnam,' the brokerage said, forecasting 'export decline, job losses, and overall uncertainty in the sector.'Beyond textiles and seafood, exporters in gems and jewellery, chemicals, and auto ancillaries are now grappling with halted orders and squeezed selloff intensified as foreign institutional investors (FIIs) remained net sellers for the tenth straight session. On August 7 alone, FIIs pulled Rs 4,997.19 crore from Indian equities, taking August's total outflows to over Rs 15,950 crore. Since July, the exodus has crossed $4 billion.'FIIs have sold on all trading days of August, so far,' said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services . 'These weak indicators, along with the relatively high valuations in India, are triggering sustained selling by the FIIs.'Vijayakumar said, 'In the present context of negative sentiments in the market caused by the tariff skirmishes between India and the U.S., FIIs are likely to continue selling in the cash market.' However, he noted that 'the only saving grace is the sustained DII buying which remains strong. The strong DII buying assisted by sustained flows into mutual funds can prevent a crash in the market.'Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted that the Nifty has formed a bearish candle with a long upper shadow for four consecutive weeks—'signaling that every attempt at a rally is being met with strong selling pressure, indicating a lack of conviction among bulls and a clear dominance of bears at higher levels.'Shah said that the Nifty is now trading below its 20-day, 50-day, and 100-day EMAs, all sloping downward, and its RSI has entered a 'super bearish zone.' He said the MACD indicator also remains in bearish territory, with the MACD line below both the signal and zero lines.'Crucial support lies in the 24,200–24,150 zone, where the 200-day EMA and 38.2% Fibonacci retracement levels coincide,' Shah said. 'If the index slips below 24,150, it could extend its decline to 23,750. On the upside, the 100-day EMA zone of 24,570–24,600 will act as a crucial hurdle.'The banking index mirrored broader market weakness. 'The banking benchmark index Bank Nifty also ended the week on a negative note… On the weekly chart, it formed a bearish candle, indicating persistent selling pressure,' Shah index hovered near its 100-day EMA, with support seen at 54,950–54,850. 'A sustained move below 54,850 could intensify the downtrend toward 54,000–53,900,' he warned. Resistance on the upside stands at 55,700–55, earnings offered little cover. The Nifty IT index is down 10% over the past month, and the banking sector has shown little momentum. An Economic Times analysis revealed that India's top nine private banks posted only 2.7% year-on-year profit growth in Q1, reflecting weak credit appetite and sluggish macro momentum.'There are no indications yet of a sharp uptick in earnings for FY26,' Vijayakumar said, adding that the market remains both 'technically and fundamentally weak.'With foreign selling unrelenting, global macro risks mounting, and Q1 results underwhelming, investors may need to brace for continued volatility. Unless trade tensions ease or earnings deliver a surprise turnaround, the path ahead for Indian equities remains fraught with risk.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The Hindu
20 minutes ago
- The Hindu
Rupee falls 13 paise to close at 87.71 against U.S. dollar
Rupee depreciated 13 paise to close at 87.71 (provisional) against U.S. dollar on Friday (August 8, 2025), weighed down by weak domestic equities as India-U.S. trade deal uncertainty continues to dent domestic market sentiments. Forex traders said rupee is trading in a narrow range amid extended weakness in the domestic equities and foreign fund outflows may also weigh on the domestic currency. Moreover, President Donald Trump's aggressive move, which kicks in 21 days, threatens to raise total duties on select Indian exports to as high as 50% — making them among the most heavily taxed U.S. imports globally, further dented market sentiments. At the interbank foreign exchange, the domestic unit opened at 87.56 and moved in a range of 87.52-87.75 during the day before settling at 87.71 (provisional), lower by 13 paise from its previous close. On Thursday, the rupee settled 14 paise higher at 87.58 against the U.S. dollar. "The Indian rupee declined on Friday on a recovery in the U.S. dollar and weak domestic equities. Uncertainty revolving around the trade war also pressurised the rupee. However, softness in crude oil prices prevented a sharp fall," Anuj Choudhary – Research Analyst, commodities and currencies, Mirae Asset Sharekhan, said. Mr. Choudhary further noted, "Rupee is likely to trade with a negative bias amid ongoing trade war between India and U.S. as Mr. Trump hiked tariff on Indian imports to 50%. "Extended weakness in the domestic equities and FII outflows may also weigh on the domestic currency. However, overall weakness in the U.S. dollar amid weakening labour market and rising odds of rate cut may support the rupee at lower levels." On August 6, the United States announced an additional 25% tariff on all Indian imports, on top of an existing 25% duty, taking the total duty to 50% effective August 27. Meanwhile, Brent crude prices rose 0.60% to $66.83 per barrel in futures trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.16% to 98.24. On the domestic equity market front, Sensex tumbled 765.47 points to settle at 79,857.79, Nifty declined 232.85 points to 24,363.30. Foreign institutional investors (FIIs) offloaded equities worth ₹4,997.19 crore on a net basis on Thursday, according to exchange data. Meanwhile, President Trump has ruled out the possibility of trade negotiations with India, until the issue of tariffs is resolved. "No, not until we get it resolved," Mr. Trump said in the Oval Office on Thursday in response to a question on whether he expects increased trade negotiations with India since he has announced 50% tariffs on the country. Last week, Mr. Trump had announced a 25% reciprocal tariffs on India that came into effect from August 7. The U.S. President also signed an executive order slapping an additional 25% levy on India for New Delhi's purchases of Russian oil, bringing the total duties to 50%, among the highest imposed by the U.S. on any country in the world. The additional 25% duty will come into effect after 21 days or August 27.
