Latest news with #AlphanitiFintech
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Business Standard
5 days ago
- Business
- Business Standard
Nifty futures fall, oil rises after US tariffs on India over Russian energy
The Nifty futures fell and crude prices rose after US President Donald Trump on Wednesday issued an executive order imposing an additional 25 per cent tariff on goods from India over its purchase of Russian energy. The Gift Nifty futures declined up to 0.9 per cent before recovering and were trading at 24,535 — down 95.5 points or 0.39 per cent — as of 8:45 pm. Oil prices climbed, with Brent crude trading at $69.2, up 0.85 per cent. The benchmark Nifty ended Wednesday's session at 24,574, down 75 points or 0.3 per cent. The latest tariffs are in addition to the 25 per cent tariffs already in place. 'The recovery of Gift Nifty indicates that the markets are likely to take Trump's announcement in their stride and are not shocked. Additional tariffs are more of a theatre and negotiation tool than an actual imposition,' said UR Bhat, co-founder, Alphaniti Fintech. 'We expect the markets to fall by 1–2 per cent in a knee-jerk reaction, but most would expect a resolution. Impact on GDP will be around 30–40 basis points if these tariffs are sustained for a year,' said Dhiraj Relli, managing director and chief executive officer, HDFC Securities. Trump on Tuesday had accused India of fuelling Russia's war machine. The US President had earlier escalated trade tensions by unilaterally imposing a 25 per cent tariff after months of negotiations. The additional tariffs come ahead of an August 8 deadline that Trump gave Russia to reach a truce with Ukraine. He has also threatened secondary tariffs on buyers of Russian energy.
Reuters
6 days ago
- Business
- Reuters
Metal, IT stocks drive Indian stock benchmarks higher
Aug 4 (Reuters) - India's equity benchmarks rose on Monday, led by gains in metals and IT stocks, as hopes of a U.S. rate cut outweighed concerns over potential U.S. tariffs on Indian goods. The Nifty 50 (.NSEI), opens new tab rose 0.64% to 24,722.75 points and the BSE Sensex (.BSESN), opens new tab gained 0.52% to 81,018.72 on Monday, recovering from a two-day drop of about 1.1% after U.S. President Donald Trump announced 25% tariffs on India. "We are seeing some recovery today after last week's reaction to tariff news. But the market should be range bound with a negative bias going ahead until some equilibrium is reached on U.S. tariffs," said UR Bhat, co-founder of tech-driven investment platform Alphaniti Fintech. Fourteen of the 16 major sectors advanced on the day. The broader small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab added 1.3% and 1.4%, respectively. Metals (.NIFTYMET), opens new tab gained 2.5%, and were the top sectoral gainers, as a softer dollar made commodities cheaper for overseas buyers. Meanwhile, IT stocks (.NIFTYIT), opens new tab, which get a significant chunk of revenue from the U.S., jumped 1.6% on hopes of a rate cut by the U.S. Federal Reserve after data showed weak labour market in the world's largest economy. The U.S. added fewer jobs than expected in July, with sharp downward revisions to previous months, lifting bets of a September rate cut to 80% from 63% a week earlier. Asian shares (.MIAPJ0000PUS), opens new tab rose 0.9% on growing hopes of lower U.S. interest rates, which tend to boost demand for emerging market equities like India among foreign investors. Autos (.NIFTYAUTO), opens new tab too advanced 1.6%, led by Hero MotoCorp ( opens new tab and TVS Motor ( opens new tab, following their strong July sales numbers. Among other stocks, agro-chemicals manufacturer UPL ( opens new tab soared 7% and was among top midcap gainers, as a growth in volumes and margin expansion in first quarter cheered investors. Multi Commodity Exchange of India ( opens new tab gained 5% after on strong quarterly earnings growth and announcement of a stock split.
Business Recorder
7 days ago
- Business
- Business Recorder
Metal, IT stocks drive Indian stocks higher
MUMBAI: India's equity benchmarks rose on Monday, led by gains in metals and IT stocks, as hopes of a US rate cut outweighed concerns over potential US tariffs on Indian goods. The Nifty 50 rose 0.64% to 24,722.75 points and the BSE Sensex gained 0.52% to 81,018.72 on Monday, recovering from a two-day drop of about 1.1% after US President Donald Trump announced 25% tariffs on India. 'We are seeing some recovery today after last week's reaction to tariff news. But the market should be range bound with a negative bias going ahead until some equilibrium is reached on US tariffs,' said UR Bhat, co-founder of tech-driven investment platform Alphaniti Fintech. Fourteen of the 16 major sectors advanced on the day. The broader small-caps and mid-caps added 1.3% and 1.4%, respectively.
Business Recorder
04-08-2025
- Business
- Business Recorder
Metal, IT stocks drive Indian stock benchmarks higher
India's equity benchmarks rose on Monday, led by gains in metals and IT stocks, as hopes of a U.S. rate cut outweighed concerns over potential U.S. tariffs on Indian goods. The Nifty 50 rose 0.64% to 24,722.75 points and the BSE Sensex gained 0.52% to 81,018.72 on Monday, recovering from a two-day drop of about 1.1% after U.S. President Donald Trump announced 25% tariffs on India. 'We are seeing some recovery today after last week's reaction to tariff news. But the market should be range bound with a negative bias going ahead until some equilibrium is reached on U.S. tariffs,' said UR Bhat, co-founder of tech-driven investment platform Alphaniti Fintech. Fourteen of the 16 major sectors advanced on the day. The broader small-caps and mid-caps added 1.3% and 1.4%, respectively. Metals gained 2.5%, and were the top sectoral gainers, as a softer dollar made commodities cheaper for overseas buyers. Meanwhile, IT stocks, which get a significant chunk of revenue from the U.S., jumped 1.6% on hopes of a rate cut by the U.S. Federal Reserve after data showed weak labour market in the world's largest economy. Indian equity benchmarks to open lower as US unleashes fresh tariffs The U.S. added fewer jobs than expected in July, with sharp downward revisions to previous months, lifting bets of a September rate cut to 80% from 63% a week earlier. Asian shares rose 0.9% on growing hopes of lower U.S. interest rates, which tend to boost demand for emerging market equities like India among foreign investors. Autos too advanced 1.6%, led by Hero MotoCorp and TVS Motor, following their strong July sales numbers. Among other stocks, agro-chemicals manufacturer UPL soared 7% and was among top midcap gainers, as a growth in volumes and margin expansion in first quarter cheered investors. Multi Commodity Exchange of India gained 5% after on strong quarterly earnings growth and announcement of a stock split.
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Business Standard
23-06-2025
- Business
- Business Standard
West Asia conflict keeps mkts on edge; Indices rebound as oil fears ease
Indian equities fell over 1 per cent on Monday amid fears that escalating tensions between the US and Iran could disrupt global oil supplies. But markets pared half their losses later in the day as Brent crude retreated from a five-month high, easing concerns about a potential supply shock. The Sensex dropped nearly 931 points (1.1 per cent) intraday before closing at 81,897, down 511 points (0.6 per cent). The Nifty settled at 24,972, declining 140 points (0.6 per cent). Foreign portfolio investors (FPIs) were net sellers to the tune of ₹1,874 crore, while domestic institutions provided buying support worth ₹5,592 crore. Brent crude surged to $77 per barrel — its highest level in five months — after the US launched strikes on Iran's nuclear facilities over the weekend, stoking fears of a prolonged conflict. Prices later eased to $76 as Iran showed no immediate signs of disrupting shipments through the Strait of Hormuz, a critical chokepoint for a fifth of the world's oil supply. Any supply disruption in the region could send oil prices soaring, raising stagflation risks — a toxic mix of sluggish growth and high inflation. For India, which imports most of its crude, this could widen the fiscal deficit and complicate the Reserve Bank of India's efforts to balance inflation control with growth support. 'We do not expect the escalation in the conflict to lead to a prolonged disruption of oil supplies in a way that could imperil global growth or cause significant challenges for central banks. As such, we believe that near-term downside in stocks could represent an opportunity for investors who are underallocated to equities to build a position,' said UBS in a note. UR Bhat, cofounder of Alphaniti Fintech, said the closure of the Strait of Hormuz is unlikely, as Iran's exports and imports would be affected. 'Iran is already crippled. The economic situation may worsen if they take such a step. Iran may continue to threaten to close the Strait of Hormuz, but it may not take such a drastic step. However, the bigger threat is Iran attacking US military assets, which would escalate tensions,' said Bhat. More than two-thirds of Sensex stocks declined. HDFC Bank, which fell 0.9 per cent, was the biggest contributor to the Sensex decline, followed by Infosys, which dropped 2.3 per cent. The market breadth was weak, with 2,273 stocks declining and 1,788 advancing. Analysts said a rise in gas prices would impact gas-based power generation as well as fertiliser and gas-importing firms such as Petronet LNG. 'While these external risks are building, India's robust foreign exchange reserves should cushion any significant impact on the external accounts,' Garima Kapoor, economist at Elara Capital, wrote in a note on Monday. A recent directive from the Ministry of Petroleum and Natural Gas suggests that state-run oil-marketing companies (OMCs) have enough inventories to last several weeks. India sources about 35 per cent of its crude oil and 42 per cent of its liquefied natural gas (LNG) through the Strait of Hormuz, making any prolonged disruption a major concern, according to Yes Securities. 'The immediate risk lies in shipment delays and increased freight charges.' However, India's diversified sourcing strategy is providing a cushion, analysts at the firm said. A prolonged supply squeeze could push India to rely more on costly spot LNG purchases, pressuring margins at importers like Petronet LNG, which depends heavily on long-term contracts from Qatar, Yes Securities' analyst Harshraj Aggarwal said. Still, India has built significant buffers. 'Strategic crude reserves cover around 9–10 days of imports, while refiners are increasingly flexible with feedstock,' Aggarwal said. He, however, added that static retail fuel prices and rising input costs were squeezing margins for OMCs like BPCL, IOCL, and HPCL. One of the impacts of any disruption in the Hormuz Strait could be on Di-ammonia phosphate supplies from Saudi Arabia, which recently became one of India's major DAP import sources, experts said. Experts warned that ammonia imports from Iraq, Kuwait, Bahrain, and Saudi Arabia could also be affected if transport through the strait is disrupted. Ammonia is a crucial raw material for producing DAP. India consumes about 10–11 million tonnes of DAP annually, with nearly half of that imported. Around 20 per cent of India's DAP imports now come from Saudi Arabia, which previously were sourced from China.
