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Business Recorder
13-05-2025
- Business
- Business Recorder
Indian benchmarks set for muted start; pharma stocks in focus
India's benchmark indexes are likely to open little changed on Tuesday, after logging their best day in more than four years following a fragile ceasefire with Pakistan over the weekend. The Gift Nifty futures were trading at 24,916 as of 8:17 a.m. IST, indicating that the Nifty 50 will open around Monday's close of 24,924.7. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Investor sentiment is upbeat after the U.S. and China agreed to temporarily slash harsh reciprocal tariffs and cooperate to avoid rupturing the global economy. MSCI's Asia ex Japan index traded 0.3% higher on Monday, following a 2% jump in the previous session amid trade optimism. Indian shares set to open higher on India-Pakistan ceasefire Back home, the Nifty 50 and Sensex soared nearly 4% in a broad-based relief rally on Monday after India and Pakistan reached and held a ceasefire following days of cross-border clashes. The gains were driven by both foreign and domestic investors. Foreign portfolio investors (FPIs) bought Indian shares worth 12.46 billion rupees ($146.9 million) on Monday, as per provisional data. With this, FPIs have bought Indian shares worth $1.7 billion so far in May on optimism over domestic growth prospects, a weaker dollar, and easing global trade tensions. Meanwhile, the spotlight is on pharmaceutical stocks after U.S. President Donald Trump signed a wide-reaching executive order on Monday, directing drugmakers to lower the prices of their medicines to align with what other countries pay. Trump's order will have limited near-term impact on Indian pharma companies, but it may have a bearing on their long-term capital allocation strategies, according to India Ratings & Research.
Yahoo
13-05-2025
- Business
- Yahoo
Indian benchmarks set for muted start; pharma stocks in focus
(Reuters) -India's benchmark indexes are likely to open little changed on Tuesday, after logging their best day in more than four years following a fragile ceasefire with Pakistan over the weekend. The Gift Nifty futures were trading at 24,916 as of 8:17 a.m. IST, indicating that the Nifty 50 will open around Monday's close of 24,924.7. Investor sentiment is upbeat after the U.S. and China agreed to temporarily slash harsh reciprocal tariffs and cooperate to avoid rupturing the global economy. MSCI's Asia ex Japan index traded 0.3% higher on Monday, following a 2% jump in the previous session amid trade optimism. [MKTS/GLOB] Back home, the Nifty 50 and Sensex soared nearly 4% in a broad-based relief rally on Monday after India and Pakistan reached and held a ceasefire following days of cross-border clashes. The gains were driven by both foreign and domestic investors. Foreign portfolio investors (FPIs) bought Indian shares worth 12.46 billion rupees ($146.9 million) on Monday, as per provisional data. With this, FPIs have bought Indian shares worth $1.7 billion so far in May on optimism over domestic growth prospects, a weaker dollar, and easing global trade tensions. Meanwhile, the spotlight is on pharmaceutical stocks after U.S. President Donald Trump signed a wide-reaching executive order on Monday, directing drugmakers to lower the prices of their medicines to align with what other countries pay. Trump's order will have limited near-term impact on Indian pharma companies, but it may have a bearing on their long-term capital allocation strategies, according to India Ratings & Research. STOCKS TO WATCH ** Tata Steel beats fourth-quarter earnings estimates on the back of lower input costs ** Hindalco Industries' U.S. subsidiary Novelis posts 6% quarter-on-quarter increase in volumes in January-March, along with a 22% jump in operating profit per ton ** China's Ant Group will sell a 4% stake in One 97 Communications at 809.75 rupees per share, a discount of 6.5% to Monday's closing price, Reuters reports Sign in to access your portfolio
