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Reuters
5 days ago
- Business
- Reuters
Indian shares fall after RBI rate pause, US tariff threat
Aug 6 (Reuters) - Indian shares fell on Wednesday, dragged by rate-sensitive stocks after the central bank held key rates and maintained a 'neutral' stance, disappointing expectations of a dovish tilt, while concerns over U.S. tariffs weighed on IT and pharma. The Nifty 50 (.NSEI), opens new tab fell 0.31% to 24,574.20, while the BSE Sensex (.BSESN), opens new tab lost 0.21% to 80,543.99. While reiterating that the domestic economic outlook remained "bright" despite global trade challenges, the RBI held rates steady, as expected, and retained its policy stance at "neutral" following a surprise 50-basis-point cut in June. "Even with inflation at lower levels, RBI chose to remain watchful rather than supportive. That silence on future easing took the steam out of rate expectations," said Nikunj Saraf, chief executive at Choice Wealth. Fourteen of the 16 major sectors logged losses. Rate-sensitive sectors such as realty(.NIFTYREAL), opens new tab lost 1.5%, while consumer (.NIFTYFMCG), opens new tab and auto (.NIFTYAUTO), opens new tab indexes fell 0.9% and 0.5%, respectively. High-weight financials (.NIFTYFIN), opens new tab were little changed. Amid U.S. tariff-related growth concerns, the RBI stuck to a cautious stance which is likely its best option, three analysts said. "The RBI appears acutely aware that the downside risks to growth from U.S. tariff spillovers are not yet fully priced in," said Arsh Mogre, economist at PL Capital. U.S. President Donald Trump said on Tuesday he would raise tariffs on Indian imports from the current rate of 25% "very substantially" within 24 hours over continued Russian oil purchases. IT (.NIFTYIT), opens new tab and pharma (.NIPHARM), opens new tab stocks, which derive a significant share of revenue from the U.S., fell 1.7% and 2%, respectively. The broader small-cap (.NIFSMCP100), opens new tab and mid-cap (.NIFMDCP100), opens new tab indexes fell 1.1% and 0.8%, underperforming the benchmarks due to their higher exposure to the domestic economy and borrowing costs. Among individual stocks, biscuit maker Britannia ( opens new tab lost 4.1% after quarterly profit miss while Bharti Airtel's unit Bharti Hexacom ( opens new tab lost 2.8% on weaker earnings.
Business Recorder
31-07-2025
- Business
- Business Recorder
Indian rupee suffers worst monthly drop since 2022 on tariff blow, portfolio outflows
MUMBAI: The Indian rupee suffered its worst monthly drop in nearly three years on Thursday, weighed down by U.S. tariff concerns and persistent portfolio outflows, with traders and analysts seeing little relief for the currency in the near term. The rupee fell to an over five month low of 87.74 following U.S. President Donald Trump's threat of a 25% charge on Indian exports, alongside an unspecified penalty, starting August 1. It closed at 87.5950 down 0.2% on the day. The currency was down 2% for the month, its worst fall since September 2022. The Reserve Bank of India likely intervened to support the rupee on Wednesday and Thursday, traders said, but noted that the intervention was not too aggressive. The rupee could risk a fall below its all-time low of 87.95 if there are no positive developments around U.S.-India trade negotiations, traders said. Foreign outflows added to the pressure, with overseas investors net selling Indian stocks worth $2 billon in July. Tariff worries trigger Indian rupee's steepest fall in nearly three months Economists at QuantEco said they expect the rupee to weaken towards 89.50 levels by March on a recovery in dollar sentiment and elevated global geo-economic and geopolitical uncertainties. India's equity benchmarks, the Nifty 50 and BSESN, fell as much as 0.9% in early trading, but pared losses to close about 0.3% lower. Meanwhile, Asian currencies fell on Thursday, bogged down by weak Chinese economic data and the approaching August 1 U.S. tariff deadline. The dollar index was flat at 99.8 after rising nearly 1% in the previous session. Later in the day, the focus will turn to U.S. personal consumption expenditure (PCE) inflation data to gauge the path of benchmark policy rates in the world's largest economy.
Economic Times
31-07-2025
- Business
- Economic Times
Rupee suffers worst monthly drop since 2022 on tariff blow, portfolio outflows
The Indian rupee suffered its worst monthly drop in nearly three years on Thursday, weighed down by U.S. tariff concerns and persistent portfolio outflows, with traders and analysts seeing little relief for the currency in the near term. ADVERTISEMENT The rupee fell to an over five month low of 87.74 following U.S. President Donald Trump's threat of a 25% charge on Indian exports, alongside an unspecified penalty, starting August 1. It closed at 87.5950 down 0.2% on the day. The currency was down 2% for the month, its worst fall since September 2022. The Reserve Bank of India likely intervened to support the rupee on Wednesday and Thursday, traders said, but noted that the intervention was not too aggressive. The rupee could risk a fall below its all-time low of 87.95 if there are no positive developments around U.S.-India trade negotiations, traders said. Foreign outflows added to the pressure, with overseas investors net selling Indian stocks worth $2 billon in July. ADVERTISEMENT Economists at QuantEco said they expect the rupee to weaken towards 89.50 levels by March on a recovery in dollar sentiment and elevated global geo-economic and geopolitical uncertainties. India's equity benchmarks, the Nifty 50 and BSESN , fell as much as 0.9% in early trading, but pared losses to close about 0.3% lower. ADVERTISEMENT Meanwhile, Asian currencies fell on Thursday, bogged down by weak Chinese economic data and the approaching August 1 U.S. tariff deadline. The dollar index was flat at 99.8 after rising nearly 1% in the previous session. Later in the day, the focus will turn to U.S. personal consumption expenditure (PCE) inflation data to gauge the path of benchmark policy rates in the world's largest economy. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
31-07-2025
- Business
- Time of India
Rupee suffers worst monthly drop since 2022 on tariff blow, portfolio outflows
The Indian rupee suffered its worst monthly drop in nearly three years on Thursday, weighed down by U.S. tariff concerns and persistent portfolio outflows , with traders and analysts seeing little relief for the currency in the near term. The rupee fell to an over five month low of 87.74 following U.S. President Donald Trump's threat of a 25% charge on Indian exports, alongside an unspecified penalty, starting August 1. It closed at 87.5950 down 0.2% on the day. Explore courses from Top Institutes in Please select course: Select a Course Category Others Data Analytics Product Management Operations Management Cybersecurity Technology Design Thinking Data Science PGDM healthcare Finance CXO MCA Leadership Management Artificial Intelligence MBA others Public Policy Data Science Digital Marketing Degree Project Management Healthcare Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT-ISB Transforming HR with Analytics & AI India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Before Dying, My Husband Said, I'm Sorry. I Asked For What. You'll See. Then This Happened Novelodge Undo The currency was down 2% for the month, its worst fall since September 2022. The Reserve Bank of India likely intervened to support the rupee on Wednesday and Thursday, traders said, but noted that the intervention was not too aggressive. The rupee could risk a fall below its all-time low of 87.95 if there are no positive developments around U.S.-India trade negotiations, traders said. Live Events Foreign outflows added to the pressure, with overseas investors net selling Indian stocks worth $2 billon in July. Economists at QuantEco said they expect the rupee to weaken towards 89.50 levels by March on a recovery in dollar sentiment and elevated global geo-economic and geopolitical uncertainties. India's equity benchmarks, the Nifty 50 and BSESN , fell as much as 0.9% in early trading, but pared losses to close about 0.3% lower. Meanwhile, Asian currencies fell on Thursday, bogged down by weak Chinese economic data and the approaching August 1 U.S. tariff deadline. The dollar index was flat at 99.8 after rising nearly 1% in the previous session. Later in the day, the focus will turn to U.S. personal consumption expenditure (PCE) inflation data to gauge the path of benchmark policy rates in the world's largest economy.
Reuters
25-07-2025
- Business
- Reuters
Rupee slides for third straight week as tariff deadline, Fed decision near
MUMBAI, July 25 (Reuters) - The Indian rupee fell to a one-month low on Friday, and logged its third straight weekly decline, pressured by outflows from local stocks and caution among investors ahead of a news-heavy week dominated by tariffs and central bank decisions. The rupee closed at 86.5150 against the U.S. dollar on Friday, down 0.4% on the week. The local currency hit a low of 86.6250 earlier in the session, its weakest level since June 23. India's benchmark equity indexes, the BSE Sensex (.BSESN), opens new tab and Nifty 50 (.NSEI), opens new tab, fell about 0.9% each, weighed down by a fall in global equities alongside worries over weak corporate earnings and a delayed U.S.-India trade deal. Dollar sales from local private banks, likely on behalf of exporter clients, helped limit the rupee's losses, a trader at a Mumbai-based bank said. The dollar index was up 0.2% at 97.7 while Asian currencies declined by as much as 0.7%. Next week is poised to be eventful, with trade talks between U.S. and China, monetary policy decisions from the U.S. Federal Reserve and Bank of Japan, the reciprocal tariff deadline, and key U.S. economic data expected to keep traders on their toes. The odds of a rate-cut by the Fed are near-zero but investors will keep an eye on commentary from the Fed Chair and whether the decision is unanimous. "We maintain our view that the impact of tariffs will be transitory and that it will be appropriate for the FOMC to resume cutting interest rates gradually in September (by 25bp) with another 25bp cut in December," ANZ said in a Friday note. The chances of a rate cut in September are currently around 60%, per CME's FedWatch tool. Evolving rate cut expectations will also be in focus locally as cooling inflation has prompted calls for at least one more interest rate cut this year. The RBI slashed rates by 100 bps over the first half of the year.
