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Business Standard
an hour ago
- Business
- Business Standard
Nifty above 25,100 level; media shares in demand
The key equity benchmarks traded with minor gains in morning trade. The Nifty traded above the 25,100 level. Media shares extended gains for the second consecutive session. At 10:30 IST, the barometer index, the S&P BSE Sensex, added 63.86 points or 0.08% to 82,509.07. The Nifty 50 index rose 41.90 points or 0.17% to 25,145.10. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.31% and the S&P BSE Small-Cap index added 0.37%. The market breadth was strong. On the BSE, 2,283 shares rose and 1,314 shares fell. A total of 194 shares were unchanged. The Nifty Media index rose 1.66% to 1,741.40. The index rose 2.09% in the past two consecutive trading sessions. Zee Entertainment Enterprises (up 3.36%), Network 18 Media & Investments (up 3.07%), Sun TV Network (up 2.05%), Hathway Cable & Datacom (up 0.95%), Tips Music (up 0.91%), Nazara Technologies (up 0.51%), D B Corp (up 0.39%), Saregama India (up 0.29%), and PVR Inox (up 0.29%) advanced. Stocks in Spotlight: AstraZeneca Pharma India shed 0.50%. The company said its managing director (MD), Sanjeev Kumar Panchal, has resigned from his position with effect from the close of business on 30 June 2025. Oberoi Realty rose 1.06%. The company said that Pankaj Gupta, chief executive officer (CEO) of commercial real estate and senior management personnel, has resigned from his position. RITES rose 0.50%. The company said that it has received a letter of acceptance (LoA) for a coastal road project from the Ministry of Public Works, the Co-operative Republic of Guyana, worth $2.908 million.
Business Standard
21 hours ago
- Business
- Business Standard
Sensex gains over 239 pts; IT shares rally
The key equity indices witnessed modest gains in afternoon trade, buoyed by the Reserve Bank of India's firm monetary policy stance and positive global sentiment. The Nifty traded tad above the 25,100 level. IT shares extended gains for the fourth consecutive trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex, added 239.15 points or 0.29% to 82,428.14. The Nifty 50 index rose 100.65 points or 0.40% to 25,103.70. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.07% and the S&P BSE Small-Cap index added 1.12%. The market breadth was strong. On the BSE, 2,739 shares rose and 1,393 shares fell. A total of 152 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.39% to 14.69. Economy: Indias forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday. For the week ended May 30, foreign currency assetsa major component of the reservesfell $1.952 billion to $584 billion, according to the RBI data. The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said. Indias reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed. Buzzing Index: The Nifty IT index added 1.10% to 37,705.55. The index gained 2.42% in four consecutive trading sessions. Oracle Financial Services Software (up 4.13%), Mphasis (up 2.69%), Persistent Systems (up 1.88%), Coforge (up 1.21%), Tata Consultancy Services (up 1.21%), LTIMindtree (up 1.15%), Infosys (up 0.69%), Wipro (up 0.57%), Tech Mahindra (up 0.48%), and HCL Technologies (up 0.45%) advanced. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.46% to 6.267 from the previous close of 6.230. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.5875 compared with its close of 85.6875 during the previous trading session. MCX Gold futures for 5 August 2025 settlement shed 0.22% to Rs 96,822. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.31% to 98.87. The United States 10-year bond yield fell 0.64% to 4.485.
United News of India
2 days ago
- Business
- United News of India
Sensex surges by 737.98 points during week
Mumbai, June 7 (UNI) Snapping two week losing Streak Sensex surged 737.98 points or 0.90 per cent to settle at 82,188.99 during the week ended June 6,2025, as the Reserve Bank of India's surprise 50 basis points rate cut and a shift in its monetary policy stance from accommodative to neutral. Easing inflation outlook and strong Q4 FY25 GDP growth of 7.4 per cent boosted investor confidence, signalling a stable and supportive economic environment. Broader markets outperformed, reflecting renewed optimism around domestic demand and lower borrowing costs. Despite global headwinds and geopolitical concerns, sentiment remained upbeat as macroeconomic indicators pointed toward a healthy growth-inflation balance. Nifty jumped 252.35 points or 1.01 per cent to settle at 25,003.05. The BSE Mid-Cap index rallied 2.12 per cent to close at 46,096.51. The BSE Small-Cap soared 1.95 per cent to end at 53,440.26. On Monday, Sensex declined 77.26 points to 81,373.75. Nifty fell 34.10 points to 24,716.60 as global trade jitters resurfaced after U.S. President Donald Trump hinted at hiking tariffs on imported steel and aluminium to 50 per cent. On Tuesday, the Sensex declined 636.24 points to 80,737.51. Nifty dropped 174.10 points to 24,542.50. On Wednesday, supported by broad-based buying across sectors. The Sensex advanced 260.74 points to 80,998.25. Nifty added 77.70 points to settle at 24,620.20. On Thursday, extending their rally for a second straight session. The Sensex advanced 443.79 points to 81,442.04. Nifty jumped 130.70 points to 24,750.90. On Friday, extending their rally for the third straight session in a row, after the RBI cut the repo rate by 50 bps to 5.50 percent Sensex surged 746.95 points to 82,188.99. Nifty jumped 252.15 points to 25,003.05. Auto stock that rose during the week were Mahindra & Mahindra by 4.25 pc, Ashok Leyland by 2.60 pc, Eicher Motors by 1.18 pc, SML Isuzu by 0.94 pc, Hyundai Motor India (HMIL) by 0.56 pc and Bajaj Auto by 0.33 pc. Auto stock that fell during the week were TVS Motor Company by 1.24 pc Tata Motors by 1.07 percent, Force Motors by 1.02 pc , Atul Auto by 1.02 pc .,Hero MotoCorp by 0.83 pc, and Escorts Kubota, which shed 0.68%. Other stocks that rose were AstraZeneca Pharma by 22.53 pc .Servotech Renewable Power System by 26.86 pc. , Railtel Corporation by 11.42 pc , Garden Reach Shipbuilders & Engineers (GRSE) jumped 8 pc and NMDC by 1.82 pc, Larsen & Toubro (L&T) fell 0.70 percent. UNI JS ARN
Business Standard
5 days ago
- Business
- Business Standard
Sensex jumps 444 pts, Nifty ends above 24,750; Trent climbs 3%
The domestic equity indices closed with strong gains today, extending their rally for a second straight session. The uptrend was driven by positive global cues and the return of foreign fund inflows after recent outflows. Traders also positioned themselves ahead of the RBIs monetary policy decision due on Friday (6 June). Volatility remained high due to the weekly expiry of the Nifty F&O series. The Nifty ended near the 24,750 level, led by strength in pharma and healthcare stocks. The S&P BSE Sensex advanced 443.79 points or 0.55% to 81,442.04. The Nifty 50 index jumped 130.70 points or 0.53% to 24,750.90. In the two straight sessions, the Sensex and Nifty jumped 0.87% and 0.85%, respectively. Trent (up 2.97%), ICICI Bank (up 1.65%) and Reliance Industries (up 1.37%) boosted the indices. In the broader market, the S&P BSE Mid-Cap index rose 0.39% and the S&P BSE Small-Cap index added 0.65%. The market breadth was positive. On the BSE, 2,257 shares rose and 1,725 shares fell. A total of 147 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 4.20% to 15.08. The Reserve Bank of India (RBI) began its monetary policy meeting on Wednesday, 4 June 2025, with the proceedings set to conclude on Friday, 6 June 2025. The meeting is being chaired by Governor Sanjay Malhotra. With inflation showing signs of easing, market participants are speculating about the possibility of a rate cut. Numbers to Track: The yield on India's 10-year benchmark federal paper fell 0.14% to 6.03 from the previous close of 6.211. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.8000 compared with its close of 85.8700 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.32% to Rs 98,890. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 98.78. The United States 10-year bond yield shed 0.30% to 4.349. In the commodities market, Brent crude for August 2025 settlement rose 20 cents or 0.31% to $65.06 a barrel. Global Markets: European markets advanced on Thursday as investors awaited a rate cut from the European Central Bank (ECB). The central bank is widely expected to trim interest rates by 25 basis points. German factory orders rose 0.6% in April from the previous month, preliminary data showed on Thursday. This was largely due to a significant increase in the manufacturing of data processing equipment, electrical goods and optical products. Most Asian stocks ended higher, with the South Korean market extending gains from the previous session. Investor attention remained on a potential call between U.S. President Donald Trump and Chinese President Xi Jinping, which the White House indicated could take place this week. Optimism surrounding the potential dialogue contributed to gains on Wall Street earlier in the week. The Caixin China services purchasing managers' index came in at 51.1 in May, rising from 50.7 in April and remaining above the 50-mark, which separates an expansion from a contraction. China's services activity in May climbed from the month before, buoyed by rising tourism activity. However, new export orders slowed at a slightly lower pace, weighed by uncertainty from the U.S. tariffs. On Wednesday, U.S. markets closed mixed. The Dow Jones Industrial Average declined by 0.22%, while the S&P 500 inched up 0.01% and the Nasdaq Composite gained 0.32%, supported by strength in technology stocks. Meanwhile, private sector hiring in the U.S. fell to its lowest level in over two years. Data from payroll processor ADP showed that payrolls increased by only 37,000 in May, compared to a revised 60,000 in April. The report has heightened concerns about the impact of trade-related uncertainty on the U.S. economy. The data precedes the release of the official nonfarm payrolls report for May, scheduled for Friday, which investors now expect to show further weakness. Stocks in Spotlight: Dr. Reddy's Laboratories rallied 3.01% after the company announced a collaboration with Iceland-based Alvotech to co-develop and commercialize a biosimilar to Keytruda (pembrolizumab) for global markets. Rama Steel Tubes (RSTL) soared 12.91% after the company announced a strategic investment in the renewable energy sector through a 10% equity stake in a 225 MW solar power project under the Government of India's PM-KUSUM scheme. Over the 25-year PPA term, the company expects total revenues of around Rs 270.28 crore from this investment. Deccan Gold Mines surged 9.72% after its its associate company, Geomysore Services (India), received the Consent to Operate (CTO) for the Jonnagiri Gold Project from the Andhra Pradesh Pollution Control Board (APPCB). Railtel Corporation gained 4.24% after the company secured an order worth Rs 274.40 crore from the Motor Vehicles Department, Maharashtra. Garden Reach Shipbuilders & Engineers (GRSE) rose 1.43% after the company announced the signing of memorandum of intent (MoI) and memorandum of understandings (MoUs) with various entities in Norway. It has signed a MoI with Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG, Germany, for the construction of four follow-on 7,500 DWT multi-purpose vessels. It has signed a memorandum of understanding (MoU) with Aries marine, a Dubai based, established and independent engineering and design firm for offshore platform and vessel design. On the same day, the company has also inked MoU with a global engine manufacturer. Angel One added 4.54% after the firm announced that its client base jumped 34.1% to 31.95 million in May 2025, compared with 23.83 million in May 2024. Power Grid Corporation of India added 1.96% after the company said that it has acquired MEL Power Transmission (MPTL), a special-purpose vehicle, for an aggregate value of Rs 8.53 crore. Force Motors rallied 3.53% after the companys domestic sales jumped 24.46% to 3,002 units in May 2025, as against 2,412 units sold in May 2024. CESC declined 1.21%. The company said that its subsidiary, Purvah Green Power, has signed a framework agreement with Envision Energy India for the supply and commissioning of 1 GW wind turbine generators (WTGs).
Business Standard
7 days ago
- Business
- Business Standard
Market slips into negative terrain; metal shares climb
The key benchmark indices traded with modest losses in mid-morning trade amid global trade tensions. Market participants will closely monitor domestic economic indicators and global trade development. The Nifty traded around the 24,600 level. Metal shares rally after declining in the past two consecutive trading sessions. At 11:25 IST, the barometer index, the S&P BSE Sensex declined 443.70 points or 0.55% to 80,923.84. The Nifty 50 index fell 118.05 points or 0.47% to 24,600.40. In the broader market, the S&P BSE Mid-Cap index shed 0.15% and the S&P BSE Small-Cap index added 0.33%. The market breadth was positive. On the BSE, 1,987 shares rose and 1,740 shares fell. A total of 208 shares were unchanged. Buzzing Index: The Nifty Metal index added 0.59% to 9,182.35. The index fell 2.39% in the past two trading sessions. Lloyds Metals & Energy (up 6.01%), Hindustan Zinc (up 4.33%), Jindal Stainless (up 2.73%), National Aluminium Company (up 1.77%), NMDC (up 1.46%), Hindalco Industries (up 1.39%), Steel Authority of India (up 1.22%), Vedanta (up 0.89%), APL Apollo Tubes (up 0.87%) and Jindal Steel & Power (up 0.84%) advanced. Stocks in Spotlight: Larsen & Toubro (L&T) declined 1.35%. The company has announced that its water & effluent treatment (WET) vertical has secured significant orders from the Public Health Engineering Department of Rajasthan. RITES rose 0.86%. The company said that it has emerged as the lowest bidder (L-1) in a quality-cum-cost based selection (QCBS) tender floated by Gujarat Urban Development Company (GUDCL) for a project worth Rs 28.50 crore. Global Markets: US Dow Jones futures were down 156 points, signaling a weak start for Wall Street. Most Asian stocks advanced on Tuesday, tracking overnight gains across all three major U.S. stock indices, despite ongoing global trade tensions. South Korean markets remained closed due to polling day. China responded to U.S. allegations of violating a temporary trade agreement, stating that the United States had failed to uphold its side of the deal. The exchange highlights increasing strain in trade negotiations between the two countries. Separately, the European Union criticized U.S. President Donald Trump's proposal to raise steel tariffs to 50%, arguing that the move could disrupt ongoing EU-U.S. trade discussions. An EU spokesperson reportedly indicated that the bloc is prepared to implement countermeasures if necessary. China's Caixin/S&P Global manufacturing purchasing managers index (PMI) declined to 48.3 in May from 50.4 in April, marking its first drop below the 50-point threshold, indicating contraction, since September of the previous year. In the U.S., stock indices closed higher on Monday, supported by gains in technology stocks and a surge in the energy sector following a rise in oil prices. Domestic steel and aluminum stocks also climbed on expectations of benefits from potential tariff increases. The S&P 500 rose 0.41%, the Nasdaq Composite gained 0.67%, and the Dow Jones Industrial Average edged up 0.08%.
