Sensex, Nifty trade near flat line, European mrkt decline

Business Standard

21 hours ago

The key equity benchmark traded with minor gains in afternoon trade, with investors eyeing the India-US trade deal and the US Feds policy decision. The Nifty traded above the 24,800 level.
Auto, realty and media shares declined while IT, FMCG and oil & gas shares advanced.
At 13:25 IST, the barometer index, the S&P BSE Sensex advanced 93.44 points or 0.12% to 81,426.06. The Nifty 50 index gained 16.20 points or 0.07% to 24,839.20.
In the broader market, the S&P BSE Mid-Cap index rose 0.06% and the S&P BSE Small-Cap index added 0.20%.
The market breadth was positive. On the BSE, 1,997 shares rose and 1,893 shares fell. A total of 173 shares were unchanged.
Economy:
The IMF has revised India's economic growth forecast upward to 6.4% for both 2025 and 2026, reaffirming its position as the world's fastest-growing major economy. Globally, growth is projected at 3.0% and 3.1% for the same years, driven by factors like lower tariffs and a weaker US dollar.
Gainers & Losers:
Larsen & Toubro (L&T) (up 4.69%), NTPC (up 1.75%), Tata Consumer Products (up 1.64%), Grasim Industries (up 1.50%) and Sun Pharmaceuticals Industries (up 1.37%) were the major Nifty50 gainers.
Tata Motors (down 3.33%), Hero Motocorp (down 2.12%), Shriram Finance (down 1.40%), Indusind Bank (down 1.27%) and Mahindra & Mahindra (M&M)(down 1.13%) were the major Nifty50 losers.
Larsen & Toubro (L&T) jumped 4.69% after the company reported 30% jump in consolidated net profit to Rs 3,617.19 crore on a 16% rise in revenue to Rs 63,678.92 crore in Q1 FY26 as compared with Q1 FY25.
NTPC rose 1.75% after the company reported a 9.80% increase in consolidated net profit to Rs 6,010.60 crore on a 3.2% drop in net sales to Rs 47,065.36 crore in Q1 FY26 over Q1 FY25.
Stocks in Spotlight:
Allied Blenders and Distillers rose 1.61% after the companys consolidated net profit stood at Rs 56 crore in Q1 FY26, marking a 398.6% increase compared to Rs 11 crore in Q1 FY25. Revenue from operations (excluding excise duty) increased by 21.80% year-on-year (YoY) to Rs 922.86 crore in Q1 FY26.
GE Vernova T&D India hit an upper circuit of 5% at Rs 2,604.25 after the companys standalone net profit surged 116.44% to Rs 291.20 on 38.8% increase in revenue from operations to Rs 1,330.13 crore in Q1 FY26 over Q1 FY25.
Bank of India added 2.54%after the companys standalone net profit climbed 32.3% to Rs 2,252.12 crore on 12.5% increase in total income to Rs 20,518.29 crore in Q1 FY26 over Q1 FY25.
Time Technoplast rose 3.53% after the company announced that its board will meet on 11 August 2025 to consider a bonus share issue.
Global Markets:
Most European market declined as investors awaiting key regional growth data and the outcome of the US FED meeting.
Markets in Asia traded in a mixed on Wednesday as market sentiment remained restrained, with participants weighing the potential impact of renewed trade tensions and the US Feds stance on future interest rate poicy announcements.
As U.S. President Donald Trumps deadline to strike a deal and avoid the Liberation Day tariffs approaches, trade negotiations with some countries appear likely to continue until the last possible moment before the August 1 cutoff date.
The U.S. Commerce Secretary was quoted by the media saying that President Donald Trumps upcoming Friday deadline to impose major tariffs on a slew of trading partners will not be delayed further. However, the trade negotiations with China are progressing on a separate timeline, the report added.
The US Federal Reserve is expected to leave interest rates unchanged at its policy meeting later on Wednesday, though it could see a rare dissent by some central bank officials in favour of lower borrowing costs.
Crude prices rose sharply earlier this week as the U.S. threatened to sanction major buyers of Russian oil, to pressure Moscow into ending its conflict with Ukraine. Signs of progress in U.S. trade relations, after a deal was struck with the European Union, also aided oil markets.
However, oils rally saw some profit booking emerge steam after industry data revealed an unexpected rise in U.S. crude inventories. The Crude Oil futures were currently down 2 cents or 0.05% to $69.19 per barrel.
Data from the American Petroleum Institute, released on Tuesday evening, showed U.S. oil inventories grew about 1.5 million barrels (mb) in the week to July 25. This build contrasted the widely reported market expectations for a 2.5 mb draw, and also marked a reversal from a small draw in the prior week.
Stocks on Wall Street closed lower on Tuesday, as investors turn their attention to the Federal Reserves interest rate decision.
The S&P 500 slipped 0.30% to close at 6,370.86, while the Nasdaq Composite lost 0.38% to 21,098.29. The Dow Jones Industrial Average slipped 204.57 points, or 0.46%, to finish the session at 44,632.99.