Barometers trade with modest cuts; European mrkt opens lower
The key equity indices traded with moderate losses in early afternoon trade, amid rising geopolitical tensions between Israel and Iran. Market sentiment remains cautious, with geopolitical factors likely to shape further movement. Investors will closely track crude oil prices, the G7 summit, upcoming Bank of Japans policy decision and the outcome of the upcoming U.S. Federal Reserve meeting later this week.
The Nifty traded below the 24,850 mark. Barring the Nifty IT index, all the other sectoral indices on the NSE traded in red.
At 13:30 IST, the barometer index, the S&P BSE Sensex declined 285.96 points or 0.35% to 81,507.56. The Nifty 50 index fell 102.70 points or 0.41% to 24,843.80.
In the broader market, the S&P BSE Mid-Cap index shed 0.40% and the S&P BSE Small-Cap index fell 0.56%.
The market breadth was weak. On the BSE, 1,501 shares rose and 2,357 shares fell. A total of 183 shares were unchanged.
Gainers & Losers:
Tech Mahindra (up 1.43%), Infosys (up 0.99%), Asian Paints (up 0.94%), HCL Technologies (up 0.61%) and HDFC Life Insurance Company (up 0.54%) were the major Nifty50 gainers.
Adani Enterprises (down 2.14%), Shriram Finance (down 1.98%), Sun Pharmaceutical Industries (down 1.97%), Bajaj Finance (down 1.92%) and Oil & Natural Gas Corporation (down 1.77%) were the major Nifty50 Losers.
Stocks in Spotlight:
Godrej Properties rose 0.59%. The company announced that it has acquired an approximately 16-acre land parcel in Upper Kharadi, Pune.
Tata Consultancy Services (TCS) added 0.51%. The company has announced a strategic partnership with the Council of Europe Development Bank (CEB) to modernize the banks operations and enhance efficiency through advanced automation.
Ethos declined 1.32%. The company announced that it has acquired 100% equity in its newly incorporated subsidiary, Ficus Trading LLC, as part of its strategic expansion into international markets, particularly the Middle East.
NTPC added 0.25%. The company announced that its board is scheduled to meet on Saturday, 21 June 2025, to consider a proposal for raising funds up to Rs 18,000 crore through the issuance of bonds.
NBCC (India) slipped 1.15%. The company announced that it has secured a contract worth Rs 172.46 crore from UCO Bank for the construction of the banks head office in Kolkata.
Global Markets:
US Dow Jones futures were down 235 points, signaling a weak start for Wall Street.
European stocks declined on Tuesday as investors assessed the Israel-Iran conflict, following U.S. President Donald Trumps call for everyone to immediately evacuate Tehran. The president subsequently left the Group of Seven summit a day early due to the Middle East crisis.
Asian shares traded mixed on Tuesday as investors kept a close watch on the simmering Israel-Iran tensions.
All eyes are now on the Bank of Japan, which is set to announce its policy decision later in the day. Expectations are that the BOJ will hold interest rates steady at 0.5%, opting for caution amid a murky global trade outlook.
Back in the US, Wall Street closed in the green overnight. Hopes for a de-escalation in the Middle East boosted sentiment, with the Dow Jones climbing 0.75%, the S&P 500 gaining 0.94%, and the Nasdaq leading the rally with a 1.52% jump.
On the corporate front, Roku shares popped after the company unveiled a new exclusive partnership with Amazon Ads. The deal is set to create the largest authenticated Connected TV (CTV) footprint in the US, a major win in the growing streaming ad market.
Meanwhile, the US Federal Reserve begins its two-day meeting today. While interest rates are widely expected to remain unchanged at around 4.5%, the spotlight will be on any hints of a pivot to rate cuts, especially as inflation cools and growth shows signs of fatigue.
Across the border, G7 leaders are gathering in Canada this week. The mood might be tense, with US President Donald Trumps tariffs on allied imports casting a shadow. Canadian PM Mark Carney has promised a push for peace and stability but hinted at potential retaliatory tariffs if Washington doesnt ease up on its steel and aluminum duties.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
8 minutes ago
- Hans India
Nifty Trade Setup 18 June: Key support seen at 24,700 as markets look for positive global cues
The Nifty 50 closed lower by 93 points on Tuesday, settling at 24,853, amid persistent global uncertainty and geopolitical tensions. Weak cues from international markets weighed heavily on investor sentiment. Except for the IT sector, all major indices ended in the red. Despite the broader market weakness, Tech Mahindra, Infosys, and Asian Paints stood out with relative strength, offering some resilience in an otherwise negative trading session. Key Level to Watch: Experts suggest that 24,700 will act as a crucial support level in the coming sessions. A breakdown below this could accelerate selling pressure, while a rebound from here may bring some relief to traders looking for a bounce-back. The market is now closely watching for positive triggers from global markets—be it easing geopolitical tensions or better-than-expected economic data—to guide the next move.
Time of India
13 minutes ago
- Time of India
Infra push on track: Railways opens largest auto cargo terminal at Manesar, Vaishnaw announces new MEMU and Amrit Bharat rollouts
Railways Minister Ashwini Vaishnaw on Tuesday inaugurated India's largest Gati Shakti Multi-Modal Cargo Terminal for automobiles at Maruti Suzuki's Manesar plant, calling it a key step in boosting logistics efficiency for the sector. The new terminal, connected to Patli railway station via a 10-km dedicated rail link, is part of the 121.7-km Haryana Orbital Rail Corridor being developed by the Haryana Rail Infrastructure Development Corporation (HRIDC). According to the Railway Ministry, the project involved an investment of Rs 800 crore, with HRIDC contributing Rs 684 crore and the remaining amount funded by Maruti Suzuki. The Manesar terminal has a loading capacity of 4.5 lakh automobiles per year, among the highest in the country. Vaishnaw, addressing the inauguration, said Indian Railways has seen strong momentum in capacity building across both freight and passenger services, PTI reported. 'In the last two and a half years, a focused campaign has been launched to increase the number of general coaches. Over 1,200 general coaches were added just in the past year,' he said. He announced that over 100 MEMU (Mainline Electric Multiple Unit) trains will be upgraded to longer configurations — from 8–12 coaches to 16–20 coaches — to improve capacity for short-distance commuters. A new MEMU factory has been set up in Kazipet, Andhra Pradesh, for this purpose. On the rollout of Namo Bharat trains, he said 50 new trains will be produced to meet rising passenger demand. The minister highlighted that in FY 2023–24, Indian Railways carried 720 crore passengers and 1,617 million tonnes of freight, achieving the second-highest freight volume globally. He also detailed reforms in the Tatkal booking system set to begin July 1, 2025. For the first 30 minutes of the Tatkal window, bookings will be restricted to Aadhaar-authenticated and KYC-verified users, aimed at curbing misuse and improving access for genuine passengers. Vaishnaw mentioned a pilot project in the Bikaner Division, where passenger reservation charts are now being prepared 24 hours in advance instead of 4 hours before departure, as per the current norm. Speaking on the new Amrit Bharat Trains, he said three are already operational with strong public response. 'Six more will be launched soon, and 50 additional trains are under production,' he said. He added that the Railway Coach Factory in Sonipat is undergoing modernisation and will be inaugurated soon, playing a key role in expanding India's coach production capacity. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Hindu
13 minutes ago
- The Hindu
Trump's tariffs will offer India certain advantages, says Chief Economic Adviser V. Anantha Nageswaran
The reciprocal tariffs unveiled by U.S. President Donald Trump on April 2 could offer India certain tariff advantages compared to other countries, V. Anantha Nageswaran, Chief Economic Adviser to the Government of India, has said. Dr. Nageswaran was speaking on 'Global economic trends: India's challenges and prospects' at Raj Bhavan here on Tuesday. He said a 90-day 'pause' is on till July 9 with respect to the tariffs, but whatever was announced on April 2 gives India certain advantages, especially in labour-intensive manufacturing areas such as textiles, leather products and chemicals. 'One of the mistakes we all make is looking at the tariffs from only the Indian point of view; 'Oh, now we have a higher tariff!'. But what matters is not just your tariff, it also matters what others face. If your competition is going to face higher tariffs you are at an advantage. And that is what is happening to India in a few areas,' he said. On energy transition, Dr. Nageswaran urged caution against the unbridled injection of solar and wind energy, which are characterised by intermittency, into the grid. Pointing out that coal will continue to remain critical, he advocated their slower penetration into the grid. While renewables will continue to increase driven by India's commitment to clean energy, it will be done in proportion, he said. 'The world has no precedent of so much solar and wind energy coming into the grids. The grids are not ready for the intermittency. If we need backups for everything, what is the point? It's double the investment cost. That is the challenge.' It is in this context that the Union Budget announcement with respect to small modular reactors and the decision to open the nuclear energy sector to the private sector assumes significance, he said. In global manufacturing, India should aim to make itself indispensable as China has done over the past 30 years, Dr. Nageswaran said. This assumes significance given the growing uncertainty factor in the global economic scenario which prompts countries to increasingly look inward, and India's high dependence on China for components in vital sectors. 'The vulnerability of dependence on one source for many products will turn much sharper in the coming years. We have to think of what are the other sources we can rely on as an alternative to China,' he said. Given its size, India can develop as a more reliable and trusted alternative source to China, he said. 'Vietnam, Mexico, Cambodia, Thailand and Indonesia lack the size to even take a shot at matching what China has done in the last thirty years. That is our opportunity,' he said. Speaking on the occasion, Governor Rajendra Vishawanath Arlekar said that, henceforth, Raj Bhavan will not only be for the Governor who resides there. Rather, Raj Bhavan will be a 'Lok Bhavan,' as it is the people's asset, he said. 'Earlier the concept was that Raj Bhavan has to be a secluded place, away from the people and society. The gates of Raj Bhavan were never opened for all of us,' he said.
