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Business Standard
26 minutes ago
- Business Standard
Sensex, Nifty trade lower; pharma shares climb for 2nd day
The key equity indices traded with moderate losses in mid-afternoon trade. Market participants will closely track crude oil prices, FII activity, and developments on the tariff front, while awaiting CPI data, scheduled for later today. The Nifty traded near 24,550 mark. Pharma shares advanced for the second consecutive trading session. At 14:25 IST, the barometer index, the S&P BSE Sensex declined 188.02 points or 0.23% to 80,420.40. The Nifty 50 index fell 37.50 points or 0.15% to 24,546.80. In the broader market, the S&P BSE Mid-Cap index shed 0.03% and the S&P BSE Small-Cap index rose 0.10%. The market breadth was negative. On the BSE, 2,131 shares rose and 1,865 shares fell. A total of 153 shares were unchanged. Buzzing Index: The Nifty Pharma index rose 0.96% to 21,811.35. The index rose 1.91% in the past two trading session. Alkem Laboratories (up 7.24%), Granules India (up 4.3%), Biocon (up 4.27%), Ipca Laboratories (up 4.26%) and Abbott India (up 2.08%) were the top gainers. Among the other gainers were Sun Pharmaceutical Industries (up 1.7%), Ajanta Pharma (up 1.54%), Aurobindo Pharma (up 1.41%), Glenmark Pharmaceuticals (up 1.12%) and Laurus Labs (up 1.02%) surged. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.56% to 6.464 from the previous close of 6.428. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.6300 compared with its close of 87.7500 during the previous trading session. MCX Gold futures for 3 October 2025 settlement fell 0.24% to Rs 100,080. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 98.52. The United States 10-year bond yield shed 0.16% to 4.278. In the commodities market, Brent crude for October 2025 settlement declined 6 cents or 0.09% to $66.57 a barrel. Stocks in Spotlight: Abbott India gained 1.96% after the companys standalone net profit climbed 11.53% to Rs 365.86 crore on 11.60% increase in revenue from operations to Rs 1,738.35 crore in Q1 FY26 over Q1 FY25. Kirloskar Industries declined 2.48% after the company reported a 1.73% decrease in consolidated net profit to Rs 95.48 crore in Q1 FY26 as against Rs 97.09 crore reported in Q4 FY25. Revenue from operations fell 2.42% quarter-on-quarter (QoQ) to Rs 1,705.48 crore in the quarter ended 30 June 2025. Praj Industries declined 7.29% after the companys consolidated net profit declined 93.7% to Rs 5.34 crore on 8.4% fall in net sales to Rs 640.20 crore in Q1 FY26 over Q1 FY25.
India.com
26 minutes ago
- India.com
ATTENTION taxpayers! Small taxpayers not exempt from ITR filing under new tax bill 2025, late filers can now claim refunds; Check details
ATTENTION taxpayers! Small taxpayers not exempt from ITR filing under new tax bill 2025, late filers can now... The Lok Sabha has passed the new Income Tax Bill, 2025, which clearly says that people who file their tax returns late can still get a refund if extra tax was deducted during the year. However, experts pointed out that the bill does not remove the rule that forces small taxpayers to file a return just to get their refund. The new provision removes Clause 263(1)(ix), which earlier stopped late filers from getting their TDS refund. This change will apply from April 1, 2026, after the bill becomes law. The bill keeps Section 433 as it is. This rule says that anyone who wants a refund must file an income tax return under Section 263. This means there is still no other way to claim a refund. So, even small taxpayers, including senior citizens, whose income is below the tax-free limit, will still have to file a return if they want their TDS refund. The parliamentary committee had earlier suggested that people should not be forced to file a tax return only to avoid penalties. It said that the current rule, which requires filing a return just to claim a refund, could even lead to legal action against small taxpayers whose income is below the taxable limit but who still have TDS deducted. In such cases, the committee felt, the law should not make them file a return just to escape penalties for non-filing. Full tax relief on pension and gratuity for families of deceased employees The new bill offers major tax relief to the families of employees who have passed away. It provides a 100 per cent tax deduction on: Commuted pension (the lump-sum pension amount) Gratuity received after the employee's death This benefit, mentioned under Clause 93 of the bill, will apply to pensions received from specific funds listed in Schedule VII. Preeti Sharma, Partner at Global Employer Services, Tax and Regulatory Services, BDO India, said the biggest benefit of the new law is that it is easier for the common man to understand compared to the old one. She added that the updated bill includes most of the changes suggested by the Select Committee. However, taxpayers will still have to figure out which tax regime suits them best before filing their returns. Also, there are no changes to the tax rates announced in Budget 2025. The new bill was passed after taking into account the recommendations of a 31-member parliamentary panel led by BJP MP Baijayant Panda.
Mint
an hour ago
- Mint
Sensex, Nifty 50 trade volatile with resilience. Is this a signal for trend reversal?
Indian stock market benchmarks Sensex and Nifty 50 remained volatile on Tuesday, August 11, following a sharp rally in the previous session that snapped a six-week losing streak. The rebound was powered by value buying, short covering, and selective gains in large-cap stocks. Two major global developments acted as catalysts for the Indian stock market. First, hopes of progress in the Russia–Ukraine conflict rose after US President Donald Trump announced a planned meeting with Russian President Vladimir Putin on August 15. Second, Washington and Beijing extended their tariff truce for 90 days, deferring higher duties until November 10 and easing near-term trade tensions. While these factors buoyed market mood, underlying domestic headwinds — including muted Q1FY26 earnings growth, persistent foreign investor outflows, and macroeconomic uncertainties — continue to cast a shadow. Market experts are cautious in interpreting the rally as a structural turnaround. The consensus view is that current gains reflect a relief rally rather than a definitive trend reversal. According to Pranay Aggarwal, Director and CEO at Stoxkart, the recent upmove appears more like a relief rally as the absence of broad-based participation across sectors and the inability of indices to break above key resistance levels underscore the market's fragility. 'Macro headwinds like persistent inflationary pressures in developed markets, crude volatility, and cautious FII flows remain,' said Aggarwal. Sustained higher highs over multiple sessions, along with improving breadth and volumes, he adds, would be necessary before calling it a structural reversal. Technical indicators also remain mixed. Nifty 50 has held the 24,400 support level for three consecutive sessions, forming a tweezer bottom pattern — a potential short-term bullish signal — but the index continues to consolidate within a range, notes Trivesh D, COO of Tradejini. 'Market seems to have temporarily absorbed the tariff concerns and is turning focus to earnings cues priced in, but a clearer trajectory may only emerge after the tariff truce period ends and any new measures are known' he said. Adding to the caution, Mayank Jain, Market Analyst at also said that the Indian stock market's rebound looks more like a short-term relief rally than a clear trend reversal. He points out that both Sensex and Nifty 50 remain below their 20-day and 50-day moving averages, a sign of lingering weakness. In his view, a breakout above 25,000 on the Nifty, supported by stronger earnings and better global cues, would be required to declare a genuine reversal. 'Some sectors have posted better-than-expected Q1 results, giving sentiment a brief boost. But foreign investor outflows, a weaker rupee, and uncertainty around global trade talks are still weighing on the market,' said Jain. The recent market correction and Q1 results have highlighted sectoral divergence, creating selective opportunities for investors. 'Domestic growth stories remain resilient. Consumption-led sectors such as retail, alcohol, FMCG, and footwear reported strong year-on-year profit growth in Q1, aided by urbanisation, premiumisation, and steady middle-class demand. The Nifty FMCG index has outperformed the broader market in recent weeks, reflecting this relative strength,' Jain added. Financials are leading on fundamentals. According to Jain, banks, diversified NBFCs, and insurers posted broad-based profit growth, driven by healthy loan disbursements, stable margins, and deeper penetration of financial products. Their largely domestic focus has shielded them from global trade volatility, allowing them to outperform cyclicals. Selective export-oriented plays are emerging. Diamonds, jewellery, and specialty chemicals saw robust earnings on the back of recovering overseas demand, though other export-linked sectors such as textiles remain under pressure from weak global orders, tariff risks, and supply chain constraints. Policy-driven sectors are attracting interest. Analysts highlight opportunities in Banking & Financials, Capital Goods, mid-tier IT, and Pharma — particularly among companies with strong balance sheets. Cement, oil & gas, and utilities have also drawn attention after strong Q1 results, while the renewable energy value chain within the power sector continues to benefit from government incentives. 'It is more about connecting the dots than picking outright winners,' said Trivesh D. Sectors like cement, oil and gas, and utilities delivered strong Q1 numbers, which keeps them in focus. Midcaps in industrials, healthcare, and NBFCs are drawing attention for long-term potential, even as valuations have cooled. There is also emerging value in logistics and pharma, partly due to tariff-linked positioning, he added. 'The power space, especially renewables, is benefiting from policy push and offers opportunities across the green energy chain,' noted Trivesh D. Pranay Aggarwal also finds selective value in the Banking and Financials, Capital Goods, mid-tier IT, and Pharma sectors, particularly by focusing on companies with strong balance sheets and clear earnings visibility. The near-term market trajectory will hinge on whether global optimism from the US–China tariff truce and geopolitical diplomacy can offset domestic challenges. Technical resilience at key support levels, coupled with selective sector strength, offers some comfort to investors. However, until the indices reclaim major moving averages and breach critical resistance levels, the current uptrend will likely be treated as a relief rally rather than the start of a new bull phase. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
