Benchmark Indices close flat in a volatile session
The 30-share BSE Sensex ended 13.53 points or 0.02 per cent down at 82,186.81. During the morning trade, it climbed 337.83 points or 0.41 per cent to 82,538.17 but lost momentum later. The 50-share NSE Nifty dipped 29.80 points or 0.12 per cent to settle at 25,060.90.
Lack of clarity over the US-India trade deal ahead of the August 1 deadline and profit booking by FIIs hit the market sentiment, experts said. Among Sensex firms, Eternal jumped the most by 10.56 per cent in a post-result rally. Food delivery and quick commerce firm Eternal, which owns the Zomato and Blinkit brands, on Monday reported a consolidated net profit of Rs 25 crore for the June quarter, as continuing investments in quick commerce and going-out businesses weighed on its bottom line. Titan rose by over 1 per cent while HDFC Bank and ICICI Bank extended gains after their quarterly results. Hindustan Unilever, Bharat Electronics, Maruti, ICICI Bank and Mahindra & Mahindra were also among the gainers. However, Tata Motors, Adani Ports, State Bank of India and Reliance Industries were among the laggards.
'The market's attention is on quarterly earnings, which slowed lately after some traction from banking stocks. Positivity noticed on Friday and Monday tapered ahead of the critical August 1st deadline of US trade agreement. 'Upside in Q1 earnings will be the critical point to sustain the current premium valuations. Continued profit-booking by FIIs exerts downward pressure, while steady inflows from DIIs could support for a range-bound movement with a positive bias towards Q1 results and trade deal,' Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE midcap gauge declined 0.62 per cent and smallcap index dipped 0.17 per cent. Among BSE sectoral indices, realty dropped 1.01 per cent, followed by telecommunication (0.87 per cent), auto (0.78 per cent), IT (0.53 per cent) and teck (0.53 per cent). Consumer discretionary emerged as the only gainer.
'Markets remained range-bound and ended almost flat, indicating a pause amid mixed signals. The market continues to lack clear direction amid mixed earnings announcements and muted global cues,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Lucknow-based Takyon Networks lists on BSE
Lucknow: Lucknow-based IT solutions company Takyon Networks Limited on Wednesday got listed on the SME platform of the Bombay Stock Exchange (BSE). Headquartered in Gomtinagar, Takyon Networks Limited's listing on the BSE SME (small and medium enterprises) platform signals the growth story UP-based entrepreneurs are achieving. The initial public offering (IPO) valued Rs 20 crore was oversubscribed by 20.35 times backed by strong investor interest. Chairman and managing director of the company Manish Kumar Sharma, described the listing as a triumph of collective effort. "This listing is not just an achievement. It is a celebration of the trust and commitment shared by our employees, customers, and partners over the years. Our journey from Lucknow to BSE proves that world-class technology companies can emerge from tier-II cities." The most anticipated moment of the event, the gong bell ceremony, added a memorable moment to the proceedings. As the clock struck 10 am, a countdown was announced from the stage, culminating in Sharma striking the ceremonial gong. The resonating chime was more than a sound — it was a declaration of over a decade of perseverance, vision and trust. Following the listing, the company's estimated market capitalisation stands at Rs 78 crore. The company caters to clients across sectors from govt agencies to corporate enterprises. Its offerings include networking infrastructure, data centre solutions, cloud and managed services, IT security, surveillance, maintenance, and onsite technical support.
Time of India
2 hours ago
- Time of India
Ant Group to exit Eternal, sell shares worth $612mn
MUMBAI: China's Ant Group will exit Eternal (formerly Zomato) by selling its remaining 1.9% stake worth Rs 5,370 crore ($612 million) through one or more block deals on Thursday, term sheet of the deal showed. This will be the second startup exit for the Chinese firm this week after Paytm. Ant Group, an affiliate of Chinese tech giant Alibaba Group, had first invested in Eternal in early 2018. Ant Group, through Antfin Singapore Holding, will offload 18.8 crore shares at a floor price of Rs 285 per share, a 4.6% discount to Eternal's closing price of Rs 298.85 on the NSE on Wednesday. Eternal did not comment on the development when contacted by TOI. Ant Group has been paring stakes in Eternal since last year. In Aug 2024, it had nearly halved its stake in the company to a little over 2% through two separate block deals worth over Rs 4,000 crore. An early backer in local startups, the Chinese investor seems to be reducing its India exposure. Earlier this week, Ant Group exited fintech Paytm by selling its remaining 5.8% stake worth over Rs 3,000 crore. Eternal's founder, Deepinder Goyal, currently holds about 3.8% stake in the company. Goyal, however, is not classified as a promoter. With businesses in food delivery and quick-commerce, Eternal has capped its foreign shareholding at 49.5%. As of June 2025, the foreign shareholding was about 43%, the company said in a recent letter to shareholders. Stay informed with the latest business news, updates on bank holidays and public holidays .
&w=3840&q=100)
Business Standard
3 hours ago
- Business Standard
Nifty futures fall, oil rises after US tariffs on India over Russian energy
The Nifty futures fell and crude prices rose after US President Donald Trump on Wednesday issued an executive order imposing an additional 25 per cent tariff on goods from India over its purchase of Russian energy. The Gift Nifty futures declined up to 0.9 per cent before recovering and were trading at 24,535 — down 95.5 points or 0.39 per cent — as of 8:45 pm. Oil prices climbed, with Brent crude trading at $69.2, up 0.85 per cent. The benchmark Nifty ended Wednesday's session at 24,574, down 75 points or 0.3 per cent. The latest tariffs are in addition to the 25 per cent tariffs already in place. 'The recovery of Gift Nifty indicates that the markets are likely to take Trump's announcement in their stride and are not shocked. Additional tariffs are more of a theatre and negotiation tool than an actual imposition,' said UR Bhat, co-founder, Alphaniti Fintech. 'We expect the markets to fall by 1–2 per cent in a knee-jerk reaction, but most would expect a resolution. Impact on GDP will be around 30–40 basis points if these tariffs are sustained for a year,' said Dhiraj Relli, managing director and chief executive officer, HDFC Securities. Trump on Tuesday had accused India of fuelling Russia's war machine. The US President had earlier escalated trade tensions by unilaterally imposing a 25 per cent tariff after months of negotiations. The additional tariffs come ahead of an August 8 deadline that Trump gave Russia to reach a truce with Ukraine. He has also threatened secondary tariffs on buyers of Russian energy.
