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United News of India
2 days ago
- Business
- United News of India
Sensex down by 270.07 pts during week
Mumbai, May 31 (UNI) The equity market remained negative for another week, as BSE Sensex slid 270.07 pts or 0.33 per cent to settle at 81,451.01 during the week ended on Friday, driven by profit booking, global uncertainties, and cautious investor sentiment ahead of key economic data. The Nifty slipped 102.45 points or 0.41 perc ent to settle at 24,750.70 Of five sessions of the week, two were in green while three were in red. For two sessions of the week, the market was in the green, boosted by the Reserve Bank of India's record Rs 2.68 lakh crore dividend payout, easing fiscal concerns and lifting investor confidence. However, remaining three sessions saw declines, as rising US treasury yields, global trade tensions, and elevated valuations triggered profit booking and risk aversion. Despite the weakness in frontline indices, the broader market out performed, with the BSE Mid-Cap gained 0.61 per cent to close at 45,136.35. BSE Small-Cap index rallied 1.73 per cent to end at 52,413.25. On Monday, Sensex rose 455.37 points or 0.56 per cent to 82,176.45. Nifty also advanced 148 points or 0.60 per cent to 25,001.15. On Tuesday, Sensex tanked 624.82 points or 0.76 per cent to 81,551.63. Nifty slipped 174.95 points or 0.70 per cent to 24,826.20. On Wednesday BSE Sensex slipped 239.31 points or 0.29 per cent to 81,312.32. Nifty too fell 73.75 points or 0.30 per cent to 24,752.45. On Thursday, halting a two-day losing run. BSE Sensex advanced by 320.70 points or 0.39 per cent to 81,633.02. Nifty rose 81.15 points or 0.33 per cent to 24,833.60. On Friday BSE Sensex tumbled down 182.01 points or 0.22 percent to 81,451.01. Nifty shed 82.90 points or 0.33 percent to 24,750.70. Stock that fell are Bajaj Auto by 1.47 per cent, JSW Steel by 1.46 per cent , NTPC by 2.97 per cent. Jio Financial Services gained 1.73 per cent. The company announced that JioBlackRock Asset Management, a 50:50 joint venture between Jio Financial Services Limited (JFSL) and BlackRock, on May 27 said it has received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as an investment manager for their mutual fund business in India. Indusind Bank rose 2.99 per cent and Tata Motors 0.18 percent Insecticides (India) surged 11 per cent The company's consolidated net profit soared 85% to Rs 13.89 crore, while revenue from operations rose 32% to Rs 358.92 crore in Q4 March 2025 over Q4 March 2024. UNI JS-NV PRS
Business Standard
3 days ago
- Business
- Business Standard
Sensex dips 182 pts, Nifty settles at 24,750 ahead of domestic GDP data
The domestic equity benchmarks ended with minor losses today as traders turned cautious ahead of the release of the domestic GDP data. The Nifty settled near the 24,750 mark. PSU bank and media shares advanced while metal, IT and auto shares declined. As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 182.01 points or 0.22% to 81,451.01. The Nifty 50 index shed 82.90 points or 0.33% to 24,750.70. In the broader market, the S&P BSE Mid-Cap index fell 0.39% and the S&P BSE Small-Cap index added 0.17%. The market breadth was negative. On the BSE, 1,822 shares rose and 2,169 shares fell. A total of 128 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.08% to 16.08. IPO Update: The initial public offer (IPO) of Scoda Tubes received bids for 53,05,29,300 shares as against 1,18,46,169 shares on offer, according to stock exchange data at 15:20 IST on Friday (30 May 2025). The issue was subscribed 44.78 times. The issue opened for bidding on Wednesday (28 May 2025) and it will close on Friday (30 May 2025). The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof. Buzzing Index: The Nifty Metal index declined 1.69% to 9,193.25. The index slipped 1.28% in previous consecutive trading session. Jindal Stainless (down 3.87%), Vedanta (down 3.53%), Hindalco Industries (down 2.56%), Jindal Steel & Power (down 2.47%), National Aluminium Company (down 1.82%), NMDC (down 1.65%), Hindustan Copper (down 1.49%), Lloyds Metals & Energy (down 1.43%), Tata Steel (down 1.42%) and Hindustan Zinc (down 1.39%) tanked. Stocks in Spotlight: Bajaj Auto tanked 3.10%. The company's standalone net profit rose 6% to Rs 2,049 crore, while revenue from operations increased 6% to Rs 12,148 crore in Q4 March 2025 over Q4 March 2024. Welspun Living tumbled 10.04% after the company reported a 9.71% decrease in consolidated net profit of Rs 131.82 crore in Q4 FY25 as against Rs 146 crore in Q4 FY24. Revenue rose by 2.74% year-over-year to Rs 2,645.90 crore during the period under review. NBCC (India) soared 5.92% after the company reported a 29.27% increase in consolidated net profit of Rs 175.92 crore in Q4 FY25 as against Rs 136.08 crore in Q4 FY24. Revenue from operations rose 16.17% year on year (YoY) to Rs 4,642.55 crore in the quarter ended 31 March 2025. SJVN dropped 5.54% after the company reported consolidated net loss of Rs 127.60 crore in Q4 FY25 as against net profit of Rs 61.08 crore posted in Q4 FY24. However, revenue from operations rose by 4.45% year-over-year to Rs 504.40 crore during the period under review. Samhi Hotels rose 0.55%. The company reported a 305.93% surge in consolidated net profit to Rs 45.87 crore, while revenue from operations rose 14.2% to Rs 318.81 crore in Q4 March 2025 over Q4 March 2024. Ola Electric Mobility declined 5.11% after the companys consolidated net loss widened to Rs 870 crore in Q4 FY25, compared with a net loss of Rs 416 crore in Q4 FY24. Revenue from operations tumbled 61.8% YoY to Rs 611 crore in Q4 FY25. Landmark Cars fell5.16% to Rs 455.95 after the companys consolidated net profit declined 86.6% YoY to Rs 1.42 crore despite a 26.3% jump in revenue from operations to Rs 1,091.22 crore in Q4 FY25 over Q4 FY24. Sobha jumped 3.00% after the companys consolidated net profit surged 481.2% to Rs 40.86 crore on 62.6% increase in revenue from operations to Rs 1,240.62 crore in Q4 FY25 over Q4 FY24. Suzlon Energy surged 9.05% after the companys consolidated net profit surged 365.2% to Rs 1,182.22 crore on 73.2% jump in revenue from operations to Rs 3,773.54 crore in Q4 FY25 over Q4 FY24. KNR Constructions declined 4.37% after the company's consolidated net profit tumbled 60.58% to Rs 139.24 crore on 31.03% decline in revenue from operations Q4 FY25 over Q4 FY24. Gujarat Pipavav Port surged 5.91% after the companys consolidated net profit jumped 70.68% to Rs 112.36 crore on 0.19% marginally rise in revenue from operations to Rs 251.77 crore in Q4 FY25 over Q4 FY24. Global Markets: European shares traded higher on Friday, shrugging off concerns over the re-imposition of U.S. tariffs by U.S. courts. Asian shares tumbled lower as investor sentiment remained cautious amid signs of a slowing U.S. economy, persistent inflation concerns, and uncertainty surrounding recent judicial developments linked to U.S. President Donald Trumps tariff policies. On Wednesday, the U.S. Court of International Trade ruled that Trump had exceeded his authority in imposing the so-called reciprocal tariffs and ordered them to be vacated. In response, the Trump administration filed an appeal, and by Thursday afternoon, an appellate court reinstated the levies. The administration indicated it may approach the Supreme Court as early as Friday to pause the lower courts decision. Australia's retail sales unexpectedly declined by 0.1% in April, snapping a three-month growth streak, driven by a drop in clothing purchases, as per data released by the Australian Bureau of Statistics. The decline follows a 0.3% growth in March, adding to expectations of potential rate cuts by the Reserve Bank of Australia. On a year-over-year basis, retail sales rose 3.8% in April, amounting to A$37.2 billion ($23.9 billion), slower than the 4.3% increase recorded in March. In regional economic data, Japans core consumer price index, excluding fresh food, rose 3.6% year-on-year in May, slightly higher than Aprils 3.4%, according to the Statistics Bureau. The countrys unemployment rate remained unchanged at 2.5% in April. South Korea reported a 0.9% decline in industrial production for April on a seasonally adjusted basis, following a 2.9% increase in March, according to data released by Statistics Korea. Despite the uncertainty, U.S. markets closed slightly higher overnight. The S&P 500 rose 0.4%, the Nasdaq Composite added 0.39%, and the Dow Jones Industrial Average gained 0.28%. However, gains were limited by investor caution surrounding the ongoing legal proceedings related to the tariffs.
Business Standard
3 days ago
- Business
- Business Standard
Benchmarks tread water amid global jitters; Nifty holds 24,750
Domestic equity benchmarks closed with modest losses today as investors adopted a cautious stance ahead of India's GDP data release. Sentiment was also weighed down by global trade uncertainties after a U.S. federal appeals court upheld tariff measures introduced during President Trumps tenure. Traders are now eyeing several key economic indicators, including the U.S. PCE price index due later today, Chinas official PMI data expected over the weekend, and the RBIs policy decision scheduled for next Friday. The Nifty ended just shy of the 24,750 level. Metal, IT, and auto stocks came under pressure, while banking stocks provided some support with decent gains. The S&P BSE Sensex declined 182.01 points or 0.22% to 81,451.01. The Nifty 50 index shed 82.90 points or 0.33% to 24,750.70. Infosys (down 1.43%), Mahindra & Mahindra (down 0.90%) and ICICI Bank (down 0.73%) were major drags. In the broader market, the S&P BSE Mid-Cap index fell 0.39% and the S&P BSE Small-Cap index added 0.17%. The market breadth was negative. On the BSE, 1,826 shares rose and 2,160 shares fell. A total of 133 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.08% to 16.08. Economy: India's GDP growth touched a four-quarter high of 7.4% in Q4 FY25, with full-year growth ending at 6.5%, according to data released by the government today. The GDP growth, higher than the previous quarter of 6.4%, was lower than the 8.4% growth logged in Q4 FY24. Numbers to Track: The yield on India's 10-year benchmark federal paper added 0.16% to 6.192 from previous close of 6.182. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.5500, compared with its close of 85.4825 during the previous trading session. MCX Gold futures for 5 June 2025 settlement shed 0.33% to Rs 95,074. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.17% to 99.51. The United States 10-year bond yield rose 0.05% to 4.426. In the commodities market, Brent crude for July 2025 settlement rose 27 cents or 0.42% to $64.42 a barrel. Global Markets: European shares advanced on Friday, shrugging off concerns over the re-imposition of U.S. tariffs by U.S. courts. German retail sales fell by 1.1% in April compared with the previous month, data showed on Friday. Asian shares ended lower as investor sentiment remained cautious amid signs of a slowing U.S. economy, persistent inflation concerns, and uncertainty surrounding recent judicial developments linked to U.S. President Donald Trump's tariff policies. On Wednesday, the U.S. Court of International Trade ruled that Trump had exceeded his authority in imposing the so-called "reciprocal" tariffs and ordered them to be vacated. In response, the Trump administration filed an appeal, and by Thursday afternoon, an appellate court reinstated the levies. The administration indicated it may approach the Supreme Court as early as Friday to pause the lower courts decision. In regional economic data, Japans core consumer price index, excluding fresh food, rose 3.6% year-on-year in May, slightly higher than Aprils 3.4%, according to the Statistics Bureau. The countrys unemployment rate remained unchanged at 2.5% in April. South Korea reported a 0.9% decline in industrial production for April on a seasonally adjusted basis, following a 2.9% increase in March, according to data released by Statistics Korea. Despite the uncertainty, U.S. markets closed slightly higher overnight. The S&P 500 rose 0.4%, the Nasdaq Composite added 0.39%, and the Dow Jones Industrial Average gained 0.28%. However, gains were limited by investor caution surrounding the ongoing legal proceedings related to the tariffs. Stocks in Spotlight: Bajaj Auto tanked 3%. The company's standalone net profit rose 6% to Rs 2,049 crore, while revenue from operations increased 6% to Rs 12,148 crore in Q4 March 2025 over Q4 March 2024. Welspun Living tumbled 9.64% after the company reported a 9.71% decrease in consolidated net profit of Rs 131.82 crore in Q4 FY25 as against Rs 146 crore in Q4 FY24. Revenue rose by 2.74% year-over-year to Rs 2,645.90 crore during the period under review. NBCC (India) soared 6.23% after the company reported a 29.27% increase in consolidated net profit of Rs 175.92 crore in Q4 FY25 as against Rs 136.08 crore in Q4 FY24. Revenue from operations rose 16.17% year on year (YoY) to Rs 4,642.55 crore in the quarter ended 31 March 2025. SJVN dropped 5.70% after the company reported consolidated net loss of Rs 127.60 crore in Q4 FY25 as against net profit of Rs 61.08 crore posted in Q4 FY24. However, revenue from operations rose by 4.45% year-over-year to Rs 504.40 crore during the period under review. Ola Electric Mobility declined 4.26% after the companys consolidated net loss widened to Rs 870 crore in Q4 FY25, compared with a net loss of Rs 416 crore in Q4 FY24. Revenue from operations tumbled 61.8% YoY to Rs 611 crore in Q4 FY25. Landmark Cars fell 5.16% after the companys consolidated net profit declined 86.6% YoY to Rs 1.42 crore despite a 26.3% jump in revenue from operations to Rs 1,091.22 crore in Q4 FY25 over Q4 FY24. Sobha jumped 3% after the companys consolidated net profit surged 481.2% to Rs 40.86 crore on 62.6% increase in revenue from operations to Rs 1,240.62 crore in Q4 FY25 over Q4 FY24. Suzlon Energy surged 9.23% after the companys consolidated net profit surged 365.2% to Rs 1,182.22 crore on 73.2% jump in revenue from operations to Rs 3,773.54 crore in Q4 FY25 over Q4 FY24. KNR Constructions declined 4.48% after the company's consolidated net profit tumbled 60.58% to Rs 139.24 crore on 31.03% decline in revenue from operations Q4 FY25 over Q4 FY24. Gujarat Pipavav Port surged 5.58% after the companys consolidated net profit jumped 70.68% to Rs 112.36 crore on 0.19% marginally rise in revenue from operations to Rs 251.77 crore in Q4 FY25 over Q4 FY24. IPO Update: The initial public offer (IPO) of Scoda Tubes received bids for 63,46,36,200 shares as against 1,18,46,169 shares on offer, according to stock exchange data at 16:40 IST on Friday (30 May 2025). The issue was subscribed 53.57 times. The issue opened for bidding on Wednesday (28 May 2025) and it will close on Friday (30 May 2025). The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof.
Business Standard
3 days ago
- Business
- Business Standard
Indices trade with limited losses; IT shares slide
The key equity indices traded with modest losses in the early afternoon trade, as strong foreign portfolio investor (FPI) inflows and optimism over domestic growth were offset by caution ahead of the upcoming GDP data release. The Nifty traded below the 24,800 level. IT shares slipped after advancing in the past trading session. At 12:30 ST, the barometer index, the S&P BSE Sensex, slipped 267.20 points or 0.33% to 81,365.82. The Nifty 50 index fell 81.85 points or 0.33% to 24,752. In the broader market, the S&P BSE Mid-Cap index shed 0.34% and the S&P BSE Small-Cap index added 0.16%. The market breadth was negative. On the BSE, 1,665 shares rose and 2,125 shares fell. A total of 179 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.05% to 16.08. The Nifty 26 June 2025 futures were trading at 24,873 at a premium of 121 point as compared with the spot at 24,752. The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 48 lakh contracts at the 26,000 strike price. Maximum put OI of 52 lakh contracts was seen at 24,000 strike price. Buzzing Index: The Nifty IT index slipped 0.84% to 37,437.50. The index rose 0.77% in the past trading session. Infosys (down 1.39%), Tech Mahindra (down 1.31%), LTIMindtree (down 1.15%), Persistent Systems (down 1.11%), Coforge (down 0.9%), HCL Technologies (down 0.58%), Mphasis (down 0.45%), Tata Consultancy Services (down 0.22%) and Wipro (down 0.20%) declined. Stocks in Spotlight: Welspun Living dropped 6.23% after the company reported a 9.71% decrease in consolidated net profit of Rs 131.82 crore in Q4 FY25 as against Rs 146 crore in Q4 FY24. Revenue rose by 2.74% year-over-year to Rs 2,645.90 crore during the period under review. NBCC (India) advanced 1.52% after the company reported a 29.27% increase in consolidated net profit of Rs 175.92 crore in Q4 FY25 as against Rs 136.08 crore in Q4 FY24. Revenue from operations rose 16.17% year on year (YoY) to Rs 4,642.55 crore in the quarter ended 31 March 2025.
Business Standard
3 days ago
- Automotive
- Business Standard
Sensex down 152 pts, Nifty below 24,800 level; VIX slides 2.13%
The key equity indices traded with limited losses in the mid-morning trade, as strong foreign portfolio investor (FPI) inflows and optimism over domestic growth were offset by caution ahead of the upcoming GDP data release. The Nifty traded below the 24,800 level. Auto shares slipped after advancing for the past consecutive trading session. At 11:30 ST, the barometer index, the S&P BSE Sensex, slipped 162.42 points or 0.20% to 81,472.11. The Nifty 50 index fell 51.45 points or 0.21% to 24,783.35. In the broader market, the S&P BSE Mid-Cap index shed 0.27% and the S&P BSE Small-Cap index added 0.11%. The market breadth was negative. On the BSE, 1,627 shares rose and 2,068 shares fell. A total of 188 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 2.13% to 16.07. IPO Update: The initial public offer (IPO) of Scoda Tubes received bids for 15,27,09,600 shares as against 1,18,46,169 shares on offer, according to stock exchange data at 11:18 IST on Friday (30 May 2025). The issue was subscribed 12.89 times. The issue opened for bidding on Wednesday (28 May 2025) and it will close on Friday (30 May 2025). The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof. Buzzing Index: The Nifty Auto index fell 0.90% to 23,344.70. The index added 0.51% in the previous trading session. Bajaj Auto (down 2.51%), Ashok Leyland (down 1.96%), Tata Motors (down 1.24%), Mahindra & Mahindra (down 1.18%), TVS Motor Company (down 0.85%), Balkrishna Industries (down 0.84%), Exide Industries (down 0.72%), Bharat Forge (down 0.68%), MRF (down 0.56%) and Maruti Suzuki India (down 0.38%) declined. On the other hand, Samvardhana Motherson International (up 1.29%) ,Tube Investments of India (up 0.64%) and Hero MotoCorp (up 0.19%) added. Bajaj Auto fell 2.51%. The companys standalone net profit rose 6% to Rs 2,049 crore, while revenue from operations increased 6% to Rs 12,148 crore in Q4 March 2025 over Q4 March 2024. Stocks in Spotlight: Landmark Cars fell 5.79% after the companys consolidated net profit declined 86.6% YoY to Rs 1.42 crore despite a 26.3% jump in revenue from operations to Rs 1,091.22 crore in Q4 FY25 over Q4 FY24. Senco Gold rose 2.11% after the company's net profit increased by 94.1% to Rs 62.44 crore as revenue from operations rose by 21.1% to Rs 1,377.71 crore in Q4 March 2025 over Q4 March 2024. Amara Raja Energy & Mobility fell 4.62% after the company's standalone net profit declined 26.85% to Rs 166.81 crore, while revenue from operations rose 6.33% to Rs 2,973.85 crore in Q4 March 2025 over Q4 March 2024. Global Markets: Asian shares traded lower on Friday as investor sentiment remained cautious amid signs of a slowing U.S. economy, persistent inflation concerns, and uncertainty surrounding recent judicial developments linked to U.S. President Donald Trumps tariff policies. On Wednesday, the U.S. Court of International Trade ruled that Trump had exceeded his authority in imposing the so-called reciprocal tariffs and ordered them to be vacated. In response, the Trump administration filed an appeal, and by Thursday afternoon, an appellate court reinstated the levies. The administration indicated it may approach the Supreme Court as early as Friday to pause the lower courts decision. In regional economic data, Japans core consumer price index, excluding fresh food, rose 3.6% year-on-year in May, slightly higher than Aprils 3.4%, according to the Statistics Bureau. The countrys unemployment rate remained unchanged at 2.5% in April. South Korea reported a 0.9% decline in industrial production for April on a seasonally adjusted basis, following a 2.9% increase in March, according to data released by Statistics Korea. Despite the uncertainty, U.S. markets closed slightly higher overnight. The S&P 500 rose 0.4%, the Nasdaq Composite added 0.39%, and the Dow Jones Industrial Average gained 0.28%. However, gains were limited by investor caution surrounding the ongoing legal proceedings related to the tariffs.
