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Mint
24 minutes ago
- Mint
Anant Raj, DLF, Sobha fall up to 3% as realty stocks resume losing streak
Real Estate stocks in focus today: Domestic real estate stocks witnessed another round of selling pressure in Thursday's trading session, as the Nifty Realty index tumbled 2% to end the day at 1,006, extending its decline for the fourth straight session amid weak global cues and profit booking. All 10 constituents of the index ended the session in the red, with Anant Raj emerging as the top laggard, falling 3% to ₹ 556 apiece. It was followed by Phoenix Mills, Godrej Properties, DLF, Brigade Enterprises, Macrotech Developers, and Sobha, all of which declined over 2%. Real estate stocks had seen a stellar rally last week following the RBI's deeper-than-expected repo rate cut of 50 basis points and an unexpected CRR cut of 100 basis points. The move boosted investor sentiment, as lower interest rates potentially spur residential demand across major cities and ease borrowing costs for developers, aiding project financing and expansion. Following the RBI's double bonanza on Friday, the Nifty Realty index jumped 5%, emerging as the top-performing sector. In fact, the stocks had already been on a strong upward trajectory ahead of the RBI MPC meeting, driven by expectations of a continued rate-easing cycle, a trend that only accelerated after the policy announcement. From its April lows, the index has rallied 31%, making the real estate sector one of the biggest turnaround stories of 2025. However, the sharp gains may prompt investors to book profits, contributing to the ongoing decline in stock prices. Indian stock markets came under significant selling pressure in today's session, with broad-based declines triggered by weak global cues that weighed on investor sentiment, sending the Nifty 50 and Sensex down over 1%. Tensions between the US and Iran flared up after recent media reports suggested that the US is preparing a partial evacuation of personnel in the Middle East, following Iran's threat to strike US bases if nuclear negotiations fail. Further pressure came as US President Donald Trump announced plans to send formal letters to key trading partners within the next one to two weeks, outlining unilateral tariffs aimed at pressuring countries into trade agreements. Despite the tough rhetoric, US Treasury Secretary Scott Bessent signaled a potential extension of the current 90-day pause on reciprocal tariffs for countries showing 'good faith' in ongoing trade talks. While Trump said a framework on tariff rates had been reached to revive the fragile trade truce with China, the lack of specifics kept markets on edge, and China has yet to officially confirm any details about the trade deal. Even as the framework is being finalized, Commerce Secretary Howard Lutnick said on Wednesday that U.S. tariffs on Chinese imports would remain at current levels. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Business Standard
24 minutes ago
- Business Standard
Sensex crashes 992 pts, Nifty below 25,000; Why markets are falling today?
Why markets are falling today: Indian stock markets took a sudden plunge on Thursday, June 12, 2025, with all sectors trading lower. The BSE Sensex index tumbled 992 points in the intraday trade to hit a low of 81,523. The BSE benchmark dropped 1,138 points from the day's high. The NSE Nifty50, on the other hand, breached the 25,000-mark in the intraday trade to hit a low of 24,826. It fell 315 points from the previous day's close and 371 points from the day's high level. At the Closing Bell, the Sensex ended at 81,692, down by 823 points or 1 per cent, while Nifty50 closed at 24,888 levels, down by 253 points or 1.01 per cent. Forty three of the 50 Nifty stocks nursed losses, dragged by Tata Motors, Trent Titan, Shriram Finance, Coal India, Tata Steel, M&M, Eternal, L&T, Power Grid, Jio Finance, SBI, Bajaj Auto, Tata Consumer Products, Adani Enterprises, HUL, BEL, Neslte India, Axis Bank, Infosys, and Ultratech Cemeny. These shares were down in the range of 1.5 per cent to 3 per cent. In the broader markets, the Nifty MidCap index was down 1.6 per cent, and the Nifty SmallCap fell by 1.78 per cent. Why are markets falling today? Key reasons behind Sensex, Nifty fall on June 12: Nifty F&O expiry: The weekly expiry of the Nifty weekly derivative contracts is scheduled to expire today. According to technical analysts, the Nifty index has been showing lack of upward momentum over the past two days. "A direct fall below 24,900-24,863 could signal weakness," said Anand James, chief market strategist, Geojit Investments Limited. Meanwhile, Options data reflects a near-neutral stance, with aggressive put writing observed at strikes near the current market price. Call writers, on the other hand, have begun adding positions at elevated levels, hinting at a cautiously optimistic outlook. "The 25,500 strike continues to dominate in terms of open interest on the call side (1.25 crore contracts), representing a prominent overhead resistance level. Conversely, the 25,000 strike has witnessed significant put addition (1.02 crore contracts), reinforcing its status as a formidable support zone," said Dhupesh Dhameja, derivatives research analyst, SAMCO Securities. The Put-Call Ratio (PCR) dipped modestly from 0.93 to 0.86 on Wednesday, indicating a slight rise in bearish positioning and highlighting the presence of supply pressure at higher levels. Max pain currently stands at 25,100, suggesting that the market may gravitate toward this level as expiry approaches, he added. Rising tensions between US-Iran: Tensions between Washington and Tehran seem to be escalating with US President Donald Trump saying that US personnel were being evacuated from the Middle East due to security concerns. This development comes in the backdrop of Trump's efforts to reach a nuclear deal with Iran hitting a deadlock, and US intelligence indicating that Israel could strike Iran's nuclear facilities. Rising oil prices: Follwing the rising tensions between Iran and the US, futures of Brent crude oil rose 4.3 per cent to close at $69.77 a barrel on Wednesday. US West Texas Intermediate crude, too, gained 4.9 per cent to settle at $68.15 per barrel. Oil prices are at 10-week high. Notably, Brent crude futures are down 1 per cent on Thursday at $68.93 per barrel. Global markets, US futures fall: European markets opened lower on Thursday with Germany's DAX index sliding 1.3 per cent, followed by a decline of 0.8 per cent in France's CAC 40 index. The UK's FTSE index was flat in the red, while Europe's STOXX 600 index declined 0.8 per cent. US futures, too, were trading lower, suggesting a weak open for Wall Street today. S&P 500 futures traded down 0.57 per cent, while Nasdaq 100 futures were down 0.62 per cent. Futures tied to the Dow Jones Industrial Average were also lower by 244 points or 0.57 per cent. Trump's trade deal deadline nears: The deadline to implement US President Donald Trump's sweeping reciprocal tariffs is nearing, with Trump believing extending the deadline "would not be necessary". Donald Trump's 3-month pause on reciprocal tariffs against its trading partners is scheduled to end on July 9. On Wednesday, Trump said he would start "sending out letters" in the coming weeks, outlining the terms of trade deals.
Business Standard
32 minutes ago
- Business Standard
Sensex tanks 540 pts; Nifty below 25,000 level; European mrkt decline
The key equity indices traded with moderate losses in the afternoon trade, amid the weekly expiry of Nifty 50 F&O contracts, as global sentiment remained cautious. Investors are digesting the limited clarity offered by the partial U.S.-China trade deal, which leaves the door open for renewed tariff tensions. The Nifty traded below the 25,000 level. Media and pharma stocks gained, while all other sectoral indices traded in the red. At 13:30 IST, the barometer index, the S&P BSE Sensex, declined 540.32 points or 0.66% to 81,984.76. The Nifty 50 index fell 161.95 points or 0.64% to 24,983.30. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.86% and the S&P BSE Small-Cap index shed 0.63%. The market breadth was negative. On the BSE, 1,581 shares rose and 2,297 shares fell. A total of 164 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.91% to 13.79. Gainers & Losers: Bajaj Finserv (up 1.99%), Wipro (up 1.13%), Apollo Hospitals Enterprise (up 1.07%), Tech Mahindra (up 1.06%) and Oil and Natural Gas Corporation (up 0.98%) were the major Nifty50 gainers. Tata Motors (down 1.85%), Tata Steel (down 1.71%), Shriram Finance (down 1.57%), Coal India (down 1.48%) and Hindustan Unilever (down 1.40%) were the major Nifty50 Losers. Stocks in Spotlight: Canara Bank shed 0.26%. The bank announced a 50 basis points (bps) reduction in its Repo Linked Lending Rate (RLLR), bringing it down from 8.75% to 8.25%, in line with the Reserve Bank of Indias latest repo rate cut. Shakti Pumps India advanced 3.60% after the company announced that it has received a letter of award (LoA) worth Rs 114.58 crore from the Maharashtra Energy Department Agency (MEDA). Sterlite Technologies (STL) surged 14.27% after the company announced it secured a Rs 2,631 crore contract from BSNL for building and maintaining the middle-mile network under BharatNet in Jammu & Kashmir and Ladakh. H.G. Infra Engineering shed 0.31%. The company has announced that it has been declared the lowest (L1) bidder for the role of Transmission Service Provider (TSP) for the development of an Inter-State Transmission System (ISTS) in the state of Odisha. NIBE rose 1.25% after the firm has received a purchase order from one of the leading Infra and Defence Company for supply of Armor Plate MIL12560 (ARMOUR) for a total consideration of Rs 23.33 crore. Tanla Platforms surged 9.58% after the company announced that its board will meet on Monday, 16 June 2025 to consider a proposal for the buyback of equity shares and other related matters. Global Markets: US Dow Jones futures were down 127 points, signaling a weak start for Wall Street. European markets opened lower on Thursday after UK economy shrinks more than expected. The U.K. economy shrank by a larger-than-expected 0.3% in April from March the biggest monthly drop since October 2023 following 0.2% growth in March. U.K. goods exports to the U.S. dropped 2 billion ($2.71 billion) in April, according to the Office for National Statistics, the biggest monthly drop since records began in 1997. The value of exports was the lowest since February 2022, with the ONS saying the shift was likely linked to the implementation of tariffs on goods imported to the United States. U.S. imports to the U.K. fell by 400 million for the month. Asian stocks traded mixed as investors reacted to U.S. President Donald Trumps statement that a trade agreement with China was done, pending final approval from both himself and Chinese President Xi Jinping. Trump indicated that the deal would include a 55% tariff on Chinese imports, a figure later confirmed by Commerce Secretary Howard Lutnick, who stated that tariffs would remain at that level. In the U.S., major indices closed lower overnight. The S&P 500 fell 0.3%, while the NASDAQ Composite fell 0.5%. The Dow Jones Industrial Average closed flat at 42,865.77 points. According to Trumps social media post, the agreement framework includes Chinese supply commitments for magnets and rare earth elements, while the U.S. would continue to permit Chinese students to attend American universities. Trump emphasized that the U.S. would maintain a 55% tariff, while China would impose a 10% tariff in return. Separately, U.S. inflation data showed the Consumer Price Index (CPI) rose 2.4% year-over-year in May, slightly above Aprils 2.3%. On a monthly basis, CPI growth eased to 0.1%. Market participants are now focused on upcoming Producer Price Index (PPI) figures and weekly jobless claims for additional signals on the health of the U.S. economy.
