India's Nifty, Sensex suffer longest weekly losing streak in five years on trade, earnings fears
The Nifty 50 (.NSEI), opens new tab and the BSE Sensex (.BSESN), opens new tab dropped 0.95% each to 24,363.3 points and 79,857.79, respectively. For the week, they shed 0.8% and 0.9%, respectively. This would be their longest losing streak since April 2020.
Losses were broad-based, with 13 of 16 major sectors ending the week in the red. Small-cap (.NIFSMCP100), opens new tab and mid-cap (.NIFMDCP100), opens new tab indexes declined 1.4% and 1.1%.
IT (.NIFTYIT), opens new tab and pharma (.NIPHARM), opens new tab indexes lost 0.7% and 2.8%, while financials (.NIFTYFIN), opens new tab and energy (.NIFTYENR), opens new tab fell 1.2% and 1.4%, respectively.
Investor sentiment remained fragile amid ongoing uncertainty over a potential U.S.-India trade deal and underwhelming earnings.
On Thursday, U.S. President Donald Trump ruled out, opens new tab further talks until the tariff dispute is resolved. This followed a move to double tariffs to 50%, citing India's oil imports from Russia.
"Prolonged tariff tensions and relentless foreign selling—totaling $3.47 billion since early July—have injected a fresh wave of volatility and caution into Indian markets," said Manish Goel, founder and MD at Equentis Wealth Advisory Services.
Among individual stocks, Adani Enterprises (ADEL.NS), opens new tab fell 7.4% this week, extending losses after posting disappointing quarterly results on July 31.
Textile exporters including KPR Mill (KPRM.NS), opens new tab
, Gokaldas Exports (GOKL.NS), opens new tab
, Vardhman Textiles (VART.NS), opens new tab
, and Trident (TRIE.NS), opens new tab
fell 4.2%-12.1% after the U.S. hiked duties on Indian imports.
In contrast, Hero MotoCorp (HROM.NS), opens new tab surged 6.7% for the week, topping the Nifty 50 after a surprise earnings beat, aided by stronger exports.
On the day, LIC (LIFI.NS), opens new tab gained 3.2% on a quarterly profit rise.
Bharti Airtel (BRTI.NS), opens new tab dropped 3.3% on multiple block deals at a discount.
"Markets are also adjusting to the RBI's message that the economy should not expect too much incremental support from monetary policy measures for now," said Sandeep Bagla, CEO of TRUST Mutual Fund.
The RBI held rates steady on Wednesday but flagged tariff-related risks to the economy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
Intel CEO to visit White House on Monday, WSJ reports
Aug 10 (Reuters) - Intel (INTC.O), opens new tab CEO Lip-Bu Tan is set to visit the White House on Monday after U.S. President Donald Trump called for his removal last week, the Wall Street Journal reported on Sunday, citing people familiar with the matter. Reuters could not immediately confirm the report. Intel and the White House did not immediately respond to requests for comment. Tan is expected to have a extensive conversation with Trump while looking to explain his personal and professional background, the report said, adding that he could propose ways Intel and the U.S. government could work together, the report added. Tan hopes to win Trump's approval by showing his commitment to the U.S. and guaranteeing the importance of keeping Intel's manufacturing capabilities as a national security issue, the report added. Last week, Trump demanded the immediate resignation of Tan, calling him "highly conflicted" due to his ties to Chinese firms and raising doubts about plans to turn around the struggling American chip icon. Tan said he shared the president's commitment to advancing U.S. national and economic security.
Daily Mail
2 hours ago
- Daily Mail
ALEX BRUMMER: Pound's mixed blessing in a world with higher trade barriers
Anyone heading to the United States this August is in for a pleasant surprise once they have managed to navigate Donald Trump's immigration checks. The pound, after a long period in the doldrums, is looking resilient. Gone should be the days when money changers at Heathrow and other airports would offer sterling and dollar parity at best. In recent trading the pound stood at a healthy $1.34 and had also perked up against the euro. This might seem odd. After all, there have been days of dire headlines highlighting Britain's fiscal weakness and the likelihood of further tax increases this autumn, after last October's £40billion bombshell. Moreover, the Bank of England's reluctant cut in interest rates to 4 per cent last week came with a sting. The pace of further cuts will be slower because UK inflation is heading towards 4 per cent. That's almost twice the pace in the EU. The Bank is finding it hard to tame inflation due to a poorly designed energy policy, the rising cost of services and demands for ever higher pay despite a weakening jobs market. Historically, the City and political establishment regarded the valuation of the pound, especially against our single biggest trading partner the US, as a barometer of performance. It was the collapse of sterling which forced the UK into the hands of the International Monetary Fund way back in 1976. The pound tumbled to frighteningly low levels as markets absorbed the impact of Liz Truss's mini-Budget in 2022. So why has the pound risen in recent months? Trump's 'Liberation Day' tariff mayhem in April sent investors scuttling out of the dollar. The result has been gold prices at a record and a rally for crypto. More serious investors diversified into the euro, the Swiss franc and even the pound. This trend was accentuated by Donald Trump's 'big, beautiful' tax bill which is estimated eventually to add $2.4trillion (£1.78trillion) to the US gross national debt. It already stands at a hefty 120 per cent of total output. Investors in sterling will also enjoy higher returns than in Europe, with the bank rate expected to stay at 4 per cent until at least November. The official rate for deposits at the European Central Bank in Frankfurt is 2 per cent and there are expectations that America's borrowing costs also are heading down. The economic impact of the stronger pound is two-fold. The Bank of England's August monetary policy report shows a benefit. The stronger the pound, the bigger the barrier it offers against inflation brought in from overseas. Import prices are projected to fall 1.25 per cent this year, with some smaller decreases in future years. Dollar-priced energy costs should also decline. In the past, when the UK has been in trouble governments have reached for the tool of devaluation. Arguably the last period of robust growth for Britain came when the pound fell out of the exchange rate mechanism in 1992, triggering a stronger export performance. But a stronger pound makes the UK less competitive. That is not a great place to be in a more fragmented world with higher trade barriers. Visitors to London will find it more expensive than ever. More reason for Rachel Reeves to stop penalising tourists (and British retail) by failing to refund VAT on goods purchased here. It is driving deep-pocketed shoppers overseas.
Auto Blog
2 hours ago
- Auto Blog
Trump Slams Jaguar's "Woke" Marketing While New CEO Defends Strategy
Jaguar's new look has been making headlines, but not for the reasons the brand had hoped. The British automaker's rebrand has sparked a wave of criticism from customers, industry insiders, and now, U.S. President Donald Trump. Taking to his Truth Social account, Trump called the changes 'stupid and seriously woke' and claimed the company is now 'in absolute turmoil.' The Controversial Rebrand Source: Jaguar In November 2024, Jaguar unveiled a minimalist logo and a campaign aimed at steering the brand toward an electric and fashion-focused future. The move was meant to modernise Jaguar's image, but instead it upset long-time fans who felt the company had abandoned its heritage. Leaked letters suggest Jaguar itself was unhappy with the rebrand, and the company has since ended its partnership with the ad agency behind it, Accenture Song. The turbulence culminated in July 2025 with the resignation of CEO Adrian Mardell, who had been with the brand for 35 years. Jaguar's strategy is also shifting. Rather than competing directly with BMW and Mercedes-Benz, the company plans to produce fewer cars at higher prices, targeting the ultra-luxury market alongside Bentley and Aston Martin. This transition will be led by PB Balaji, the current CFO of parent company Tata Motors, who will take over as CEO of Jaguar Land Rover in November 2025. Trump's Verdict In his Truth Social post, Trump praised American Eagle's recent ad campaign featuring Sydney Sweeney, calling it 'the hottest ad out there,' and contrasted it with Jaguar's, which he called 'stupid' and likened to Bud Light's controversial marketing. He claimed such 'woke' ads damage brands, alleging they resulted in a loss of billions in market value. Trump also tied the issue into his broader criticism of celebrity culture, referencing Taylor Swift and saying she was 'no longer hot'. PB Balaji addressed the controversy in an interview with Bloomberg, defending the rebrand and new direction. He said the latest models were getting an 'exciting response' from customers and dismissed suggestions that Mardell's departure was tied to the changes. Instead, he pointed to the company's resilience in a market facing slower global sales. Jaguar's Future Jaguar Type 00 Badge — Source: Jaguar While the Jaguar Type 00 concept car has started to grow on people, the drastic rebrand has still left long-time fans with a sour taste in their mouths. In the luxury car world, image is everything, and a misstep like this can take years to recover from. For a marque that has long built its identity on elegance and tradition, finding the right balance between modernization and heritage will be critical. The question now is whether the company will adjust its course or double down on its vision for a new era with its new CEO, PB Balaji, at the helm. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. About the Author Marnus Moolman View Profile
