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Business Recorder
02-08-2025
- Business
- Business Recorder
Indian blue-chips post fifth weekly loss as tariffs bite
MUMBAI: Indian stock benchmarks fell on Friday, logging their fifth straight weekly loss - the longest losing streak in two years - as the US hit trading partners with steep tariffs and reaffirmed a 25% duty on India, stoking global growth worries. The Nifty 50 fell 0.82% to 24,565.35 points and the BSE Sensex lost 0.72% to 80,599.91. Both the benchmarks fell about 1.1% this week, with fourteen of the 16 major sectors ending lower. The broader small-caps and mid-caps declined 3.4% and 2.4%, respectively, for the week. 'The tariff threat feels more like hardball than endgame, leverage not lasting policy,' said Aishvarya Dadheech, chief investment officer at Fident Asset Management. However, relentless foreign selling and US inflationary pressures from tariff uncertainty could sting emerging markets such as India in the near term, Dadheech added.
Business Recorder
01-08-2025
- Business
- Business Recorder
Indian blue-chips post fifth weekly loss as tariffs, foreign outflows bite
Indian stock benchmarks fell on Friday, logging their fifth straight weekly loss - the longest losing streak in two years - as the U.S. hit trading partners with steep tariffs and reaffirmed a 25% duty on India, stoking global growth worries. The Nifty 50 fell 0.82% to 24,565.35 points and the BSE Sensex lost 0.72% to 80,599.91. Both the benchmarks fell about 1.1% this week, with fourteen of the 16 major sectors ending lower. The broader small-caps and mid-caps declined 3.4% and 2.4%, respectively, for the week. 'The tariff threat feels more like hardball than endgame, leverage not lasting policy,' said Aishvarya Dadheech, chief investment officer at Fident Asset Management. However, relentless foreign selling and U.S. inflationary pressures from tariff uncertainty could sting emerging markets such as India in the near term, Dadheech added. Indian shares trim losses as investors see US tariff threat as bargaining chip Foreign portfolio investors have sold Indian stocks for nine consecutive sessions, with July outflows reaching 17.74 billion rupees, the highest since February. U.S.-exposed IT slipped 1.9% on Friday and 2.7% for the week as tariffs and inflation worries triggered demand concerns. Pharma shed 3.3% on the day and 2.9% on week after U.S. President Donald Trump pushed drugmakers to slash prescription prices, intensifying pricing pressures. Sun Pharma fell 4.5% on the day, the most on the Nifty 50, with Investec downgrading the stock to 'sell' from 'buy'. In contrast, consumer stocks jumped 3% this week, led by Hindustan Unilever and Varun Beverages, as strong June-quarter earnings boosted hopes of a gradual demand revival. For the week, infrastructure giant Larsen & Toubro and paints maker Asian Paints also gained 4.2% and 4.1%, respectively, on strong quarterly results. PNB Housing Finance plunged 18% to log their worst session in nearly seven years after CEO Girish Kousgi resigned, a move analysts called a setback given his role in driving profitability and asset quality.
Reuters
01-08-2025
- Business
- Reuters
Indian blue-chips post fifth weekly loss as tariffs, foreign outflows bite
Aug 1 (Reuters) - Indian stock benchmarks fell on Friday, logging their fifth straight weekly loss - the longest losing streak in two years - as the U.S. hit trading partners with steep tariffs and reaffirmed a 25% duty on India, stoking global growth worries. The Nifty 50 (.NSEI), opens new tab fell 0.82% to 24,565.35 points and the BSE Sensex (.BSESN), opens new tab lost 0.72% to 80,599.91. Both the benchmarks fell about 1.1% this week, with fourteen of the 16 major sectors ending lower. The broader small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab declined 3.4% and 2.4%, respectively, for the week. "The tariff threat feels more like hardball than endgame, leverage not lasting policy," said Aishvarya Dadheech, chief investment officer at Fident Asset Management. However, relentless foreign selling and U.S. inflationary pressures from tariff uncertainty could sting emerging markets such as India in the near term, Dadheech added. Foreign portfolio investors have sold Indian stocks for nine consecutive sessions, with July outflows reaching 17.74 billion rupees, the highest since February. U.S.-exposed IT (.NIFTYIT), opens new tab slipped 1.9% on Friday and 2.7% for the week as tariffs and inflation worries triggered demand concerns. Pharma (.NIPHARM), opens new tab shed 3.3% on the day and 2.9% on week after U.S. President Donald Trump pushed drugmakers to slash prescription prices, intensifying pricing pressures. Sun Pharma ( opens new tab fell 4.5% on the day, the most on the Nifty 50, with Investec downgrading the stock to "sell" from "buy". In contrast, consumer stocks (.NIFTYFMCG), opens new tab jumped 3% this week, led by Hindustan Unilever ( opens new tab and Varun Beverages ( opens new tab, as strong June-quarter earnings boosted hopes of a gradual demand revival. For the week, infrastructure giant Larsen & Toubro ( opens new tab and paints maker Asian Paints ( opens new tab also gained 4.2% and 4.1%, respectively, on strong quarterly results. PNB Housing Finance ( opens new tab plunged 18% to log their worst session in nearly seven years after CEO Girish Kousgi resigned, a move analysts called a setback given his role in driving profitability and asset quality. ($1 = 87.5700 Indian rupees)
Business Recorder
16-05-2025
- Business
- Business Recorder
Indian shares log weekly gains on ceasefire with Pakistan, US deal hopes
India's benchmark equity indexes posted a weekly rise as investors cheered a truce with Pakistan, trade talks with the United States and expectations of domestic interest rate cuts. The Nifty 50 rose 4.21% to 25,019.80 for the week and the BSE Sensex gained 3.62% to 82,330.59. On the day, the indexes fell about 0.2% each, dragged by a pullback in IT stocks. 'The announcement of a ceasefire between India and Pakistan eased worries of escalation of military tensions and triggered risk-on sentiment, while the U.S-China trade truce, progress in India-U.S. trade negotiations and cooling domestic inflation sustained the weekly gains,' said Aishvarya Dadheech, chief investment officer of Fident Asset Management. With foreign inflows likely to sustain, the outlook for Indian markets remains positive, said Dadheech. U.S. President Donald Trump said on Thursday that India has offered a trade deal with zero tariffs, driving markets higher. India's trade secretary said that trade talks with the U.S. are progressing well. Trade minister Piyush Goyal will lead an Indian delegation to advance negotiations. India's benchmarks inch higher as tech, metal stocks gain India's more domestically-focussed small-caps and mid-caps advanced 9.2% and 7.2% this week, led by defence stocks and post-results rallies in key constituents. 'The sharp resurgence in broader markets is a sign of things changing for good,' Fident Asset's Dadheech said. All 13 major sectors advanced from a week earlier. The IT index rose 5.8%, helped by easing recession worries in the world's largest economy. Metal shares jumped 9.3% to log their best week in four years, aided by weakness in the dollar. Interest rate-sensitive heavyweight financials and realty shares climbed 3.8% and 10.8% after data showed retail inflation fell to a near six-year low. India's no. 2 telecom operator Bharti Airtel declined 2.9% on the day after a $1 billion stake sale by large shareholder Singapore Telecommunications.
Business Recorder
02-05-2025
- Business
- Business Recorder
India benchmarks log longest weekly winning run in 2025 on US trade deal hopes, foreign inflows
Indian benchmarks rose on Friday to log their longest weekly winning streak of the year, led by index heavyweight Reliance Industries, while steady foreign inflows and renewed optimism over a potential India-U.S. trade deal supported sentiment. The Nifty 50 closed 0.05% higher at 24,346.7 and the BSE Sensex gained 0.32% to 80,501.99. Both benchmarks rose about 1% earlier in the session before paring gains. The Nifty rose 1.3% this week while the Sensex added 1.6%, marking their third straight weekly gain. Signals of progress on a bilateral trade agreement between India and the U.S. buoyed market sentiment, with President Donald Trump hinting at potential trade deals with India, South Korea and Japan. Foreign portfolio investment stayed consistent, reinforcing the optimism. Overseas investors bought Indian equities for 11 straight sessions through Wednesday — the longest such streak in two years. They turned net buyers in April after three months of outflows. Indian benchmarks surrender gains as Kashmir jitters offset trade deal optimism 'The perception that India will be a relative beneficiary under tariff regimes, rising expectations of a trade deal with the U.S. and strong earnings from companies like Reliance and major banks are keeping investors engaged,' said Aishvarya Dadheech, chief investment officer of Fident Asset Management. Reliance Industries surged 9.4% this week, its best weekly performance in nearly five years, after it posted strong quarterly results on April 25. Analysts expect continued momentum for the conglomerate in the fiscal 2026 from growth in its retail segment, the potential Jio listing and improving oil-to-chemicals margins. Eleven of the 13 major sectors advanced this week. The broader small-caps lost 0.6% while mid-caps inched 0.3% higher. JSW Steel tumbled 5.5% on the day. India's top court rejected the steel maker's resolution plan to acquire Bhushan Power and Steel four years after the takeover was completed, two lawyers involved in the case said.
