Quick Wrap: Nifty Media Index gains 1.99%
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Mint
4 hours ago
- Mint
THESE five sectors in focus amid global uncertainties, Geojit's Vinod Nair explains
In the near term, the domestic equity market is expected to trade within a narrow range of 24,000 to 25,000 on the Nifty50 index, reflecting a mixed bias. This cautious sentiment stems from ongoing geopolitical developments, particularly the evolving trade dynamics between India and the U.S., influenced by interactions involving Trump, Putin, and proposed meetings between Prime Minister Modi and leaders from Russia and China. There is growing optimism that the proposed 25% penalty tariff may be deferred or withdrawn, with market participants viewing these measures as tactical moves aimed at securing favourable trade deals. Mild expectations of a potential agreement between Trump and Putin are also contributing to a positive undertone for India. Furthermore, the U.S. decision to delay additional tariffs on China by 90 days has added to the constructive sentiment. However, inflationary pressures in the U.S. are beginning to show adverse effects. The core Consumer Price Index (CPI) rose to 3.1% in July, up from 2.8% in May. As of August 7, the effective U.S. tariff rate stands at ~18%—it's highest since 1934—far exceeding the 3% rate estimated at the start of the year. Concurrently, core CPI has reached a six-month high and is expected to rise further on a month-over-month basis due to reciprocal tariffs. These inflationary indicators surpass thresholds typically considered by the Federal Reserve for rate cuts, suggesting limited scope for monetary easing in the short term. However, deteriorating payroll data could provide room for rate moderation starting with the September policy review. Market sentiment currently suggests that the likelihood of enforcing the proposed 25% penalty tariff on India remains low. Conversely, the reciprocal tariff imposed is expected to persist in the short to medium term. The slowdown in bilateral trade negotiations has added to uncertainty, particularly affecting sectors such as textiles, capital goods, auto ancillaries, seafood, gems, and agriculture—industries that face relatively higher tariffs compared to other emerging markets. This unexpected development has weighed on market expectations, pulling the Nifty50 below the 25,000 mark, which had previously been supported by hopes of a preliminary trade deal with the U.S. Relations between Prime Minister Modi and President Trump have notably deteriorated following the India–Pakistan conflict. Diverging views on peace initiatives, defence-related losses, and Pakistan's strategic alignment with the U.S. have further strained diplomatic ties, influencing long-term geopolitical and personal dynamics of Trump. Additional complexities in the India–U.S. trade relationship arise from differing positions on oil imports from Russia and the liberalisation of sensitive sectors such as agriculture and dairy. India remains steadfast in its commitment to protect vulnerable farming communities—a stance it has consistently maintained in other trade negotiations, including the UK Free Trade Agreement and ongoing discussions with the European Union. Recently, Russian oil imports have slowed due to international financing and supply chain restrictions linked to European sanctions and anticipated U.S. mandates. Nonetheless, India continues to prioritise Russian imports for fiscal and strategic reasons. Given these uncertainties, the market is expected to adopt a wait-and-watch approach. Domestic consumption-driven sectors such as FMCG, consumer durables, cement, finance, and infrastructure offer relative stability and investment opportunities. Meanwhile, export-oriented sectors like IT and pharma are likely to remain cautious in the near term, although attractive valuations may appeal to long-term investors in the technology space. Overall, the market is expected to remain stock- and sector-selective, as broader indices trade at approximately 20x one-year forward price-to-earnings (P/E)—a valuation that appears stretched relative to the 10% corporate earnings growth reported in Q1. The author, Vinod Nair, is Head of Research at Geojit Financial Services. 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 investment decisions.
Time of India
6 hours ago
- Time of India
Top 10 firms' m-cap: 5 of top-10 companies add Rs 60,676 crore in value, SBI and HDFC Bank lead gains
Five of the country's 10 most valued companies added Rs 60,675.94 crore to their market capitalisation last week, with State Bank of India (SBI) and HDFC Bank emerging as the biggest winners in line with the positive momentum in equities. In the holiday-shortened week, the Sensex gained 739.87 points or 0.92 per cent, while the Nifty advanced 268 points or 1.10 per cent, PTI reported. Among the top-10 pack, Reliance Industries , HDFC Bank, Bharti Airtel, SBI and Infosys recorded valuation gains, while Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, Life Insurance Corporation of India (LIC) and Bajaj Finance witnessed erosion. SBI saw the sharpest jump, with its market capitalisation rising Rs 20,445.82 crore to Rs 7,63,095.16 crore. HDFC Bank's valuation climbed Rs 14,083.51 crore to Rs 15,28,387.09 crore. Infosys added Rs 9,887.17 crore to reach Rs 6,01,310.19 crore, Bharti Airtel advanced Rs 8,410.6 crore to Rs 10,68,260.92 crore, and Reliance Industries rose Rs 7,848.84 crore to Rs 18,59,023.43 crore. On the losing side, LIC's valuation fell by Rs 15,306.5 crore to Rs 5,61,881.17 crore, followed by Bajaj Finance, which slipped Rs 9,601.08 crore to Rs 5,35,547.44 crore. ICICI Bank's market value dropped Rs 6,513.34 crore to Rs 10,18,982.35 crore, TCS fell Rs 4,558.79 crore to Rs 10,93,349.87 crore, and Hindustan Unilever dipped Rs 3,630.12 crore to Rs 5,83,391.76 crore. Reliance Industries remained the most valued firm by market cap, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Hindustan Unilever, LIC and Bajaj Finance. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Mint
7 hours ago
- Mint
Mcap of 5 of top 10 most valued firms surge by ₹60,676 crore; SBI, HDFC Bank biggest gainers
The combined market capitalisation of five of the country's top-10 most valued companies rose by ₹ 60,675.94 crore last week, with State Bank of India (SBI) and HDFC Bank leading the gains, supported by an overall positive sentiment in equities. In the holiday-shortened week, the Sensex advanced 739.87 points (0.92%), while the Nifty gained 268 points (1.10%). Among the top-10 firms, Reliance Industries, HDFC Bank, Bharti Airtel, SBI, and Infosys recorded an increase in valuation. In contrast, TCS, ICICI Bank, Hindustan Unilever, LIC, and Bajaj Finance saw their market capitalisation decline. SBI's valuation jumped the most, rising by ₹ 20,445.82 crore to ₹ 7,63,095.16 crore, followed by HDFC Bank, which added ₹ 14,083.51 crore to reach ₹ 15,28,387.09 crore. Infosys gained ₹ 9,887.17 crore, taking its valuation to ₹ 6,01,310.19 crore. Bharti Airtel's mcap climbed ₹ 8,410.6 crore to ₹ 10,68,260.92 crore, while Reliance Industries increased ₹ 7,848.84 crore to ₹ 18,59,023.43 crore. On the other hand, LIC's valuation fell the most by ₹ 15,306.5 crore to ₹ 5,61,881.17 crore. Bajaj Finance shed ₹ 9,601.08 crore to ₹ 5,35,547.44 crore, ICICI Bank dropped ₹ 6,513.34 crore to ₹ 10,18,982.35 crore, TCS slipped ₹ 4,558.79 crore to ₹ 10,93,349.87 crore, and Hindustan Unilever dipped ₹ 3,630.12 crore to ₹ 5,83,391.76 crore. Despite the mixed trend, Reliance Industries remained the most valued company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Hindustan Unilever, LIC, and Bajaj Finance.
