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Business Standard
6 hours ago
- Business
- Business Standard
Indices trade lower; IT shares rally
The key equity indices traded with modest losses in mid-afternoon trade, amid rising geopolitical tensions between Israel and Iran. Market sentiment remains cautious, with geopolitical factors likely to shape further movement. Investors will closely track crude oil prices, the G7 summit, upcoming Bank of Japans policy decision and the outcome of the upcoming U.S. Federal Reserve meeting later this Nifty traded below the 24,900 level. IT shares witnessed buying demand for third consecutive trading session. At 14:25 IST, the barometer index, the S&P BSE Sensex declined 210.64 points or 0.26% to 81,597.34. The Nifty 50 index fell 80.20 points or 0.32% to 24,865.25. In the broader market, the S&P BSE Mid-Cap index shed 0.29% and the S&P BSE Small-Cap index fell 0.45%. The market breadth was weak. On the BSE, 1,533 shares rose and 2,384 shares fell. A total of 166 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.48% to 14.32. Buzzing Index: The Nifty IT index jumped 1% to 39,463.65. The index rallied 2.61% for the three consecutive trading sessions. Tech Mahindra (up 1.69%), LTIMindtree (up 1.29%), Persistent Systems (up 1.2%), Infosys (up 0.95%) and HCL Technologies (up 0.63%), Tata Consultancy Services (up 0.58%), Coforge (up 0.55%), Oracle Financial Services Software (up 0.41%) and Wipro (up 0.38%) jumped. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.03% to 6.269 from the previous close of 6.270. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.2325 compared with its close of 86.0450 during the previous trading session. MCX Gold futures for 5 August 2025 settlement shed 0.07% to Rs 99,110. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 98.20. The United States 10-year bond yield declined 0.45% to 4.430. In the commodities market, Brent crude for August 2025 settlement advanced 96 cents or 1.31% to $74.19 a barrel.
Business Standard
10 hours ago
- Business
- Business Standard
Sensex slumps 257 pts; Nifty below 24,900; VIX slides 2.13%
The headline equity benchmarks traded with moderate losses in early afternoon trade, amid rising geopolitical tensions between Israel and Iran. Market sentiment remains cautious, with geopolitical factors likely to shape further movement. Investors will closely track crude oil prices, the G7 summit, upcoming Bank of Japans policy decision and the outcome of the upcoming U.S. Federal Reserve meeting later this week. The Nifty traded below the 24,900 level. Metal shares declined after advancing for previous trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex declined 257.07 points or 0.31% to 81,537.48. The Nifty 50 index fell 90.55 points or 0.35% to 24,858.25. In the broader market, the S&P BSE Mid-Cap index shed 0.15% and the S&P BSE Small-Cap index fell 0.23%. The market breadth was negative. On the BSE, 1,679 shares rose and 2,110 shares fell. A total of 202 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.13% to 14.52. The Nifty 26 Jun 2025 futures were trading at 24,896, at a premium of 37.75 points as compared with the spot at 24,858.25. The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 67.1 lakh contracts at the 26,000 strike price. Maximum put OI of 56.8 lakh contracts was seen at the 24,500 strike price. Buzzing Index: The Nifty Metal index fell 0.72% to 9,290.45. The index added 1.07% in the previous trading session. Hindustan Copper (down 2.9%), Hindustan Zinc (down 2.59%), NMDC (down 1.83%), Jindal Stainless (down 1.55%), Adani Enterprises (down 1.45%), National Aluminium Company (down 1.35%), APL Apollo Tubes (down 0.98%), Steel Authority of India (down 0.87%), Jindal Steel & Power (down 0.86%) and Tata Steel (down 0.62%) down. On the other hand, Lloyds Metals & Energy (up 0.78%), Welspun Corp (up 0.04%) and JSW Steel (up 0.01%) added. Stocks in Spotlight: ITCONS E-Solutions rose 0.32%. The company announced that it has received new work order worth Rs 62.66 lakhs from Wipro for providing technical manpower services. NBCC (India) shed 0.75%. The company announced that it has secured a contract worth Rs 172.46 crore from UCO Bank for the construction of the banks head office in Kolkata. Vipul Organics hit an upper limit of 5% after the company announced that it has received the final approval and the first commercial order for a newly developed organic intermediate intended for use in the automobile industry.
Business Standard
10 hours ago
- Business
- Business Standard
Nifty trades below 24,900 level; pharma shares under pressure
The key equity benchmarks traded with modest losses in morning trade, amid rising geopolitical tensions between Israel and Iran. Market sentiment remains cautious, with geopolitical factors likely to shape further movement. Investors will closely track crude oil prices, the G7 summit, upcoming Bank of Japans policy decision and the outcome of the upcoming U.S. Federal Reserve meeting later this week. The Nifty hovered below the 24,900 level. Pharma shares declined after advancing in the past trading session. At 10:25 IST, the barometer index, the S&P BSE Sensex declined 216.53 points or 0.26% to 81,580.70. The Nifty 50 index fell 67.55 points or 0.27% to 24,878.30. The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.28% and the S&P BSE Small-Cap index added 0.44%. The market breadth was strong. On the BSE, 2,129 shares rose and 1,355 shares fell. A total of 235 shares were unchanged. Buzzing Index: The Nifty pharma index declined 0.96% to 21,828.05. The index rose 0.25% in the past trading session. Sun Pharmaceutical Industries (down 1.98%), Lupin (down 1.69%), Natco Pharma (down 1.07%), Zydus Lifesciences (down 0.96%), Granules India (down 0.9%), Cipla (down 0.8%), Mankind Pharma (down 0.77%), Aurobindo Pharma (down 0.75%), Dr Reddys Laboratories (down 0.74%) and Laurus Labs (down 0.65%) declined. Stocks in Spotlight: Prostarm Info Systems advanced 3.36% after the firm has received a letter of intent (LoI) from Bihar State Power Generation Company (BSPGCL) for setting up a 30 MW/120 MWh standalone battery energy storage system (BESS). AXISCADES Technologies hit upper circuit of 5% after the company announced a strategic alliance with Indra, a European defense and aerospace major, to jointly manufacture and develop cutting-edge systems in India.
Business Standard
13 hours ago
- Business
- Business Standard
Indices drift lower in early trade; breadth positive
The key equity benchmarks traded with minor losses in early trade, driven by rising geopolitical tensions between Israel and Iran. Geopolitical developments are expected to continue influencing the market direction, as investors closely track crude oil prices, the G7 summit, Bank of Japans policy decision and the outcome of the upcoming U.S. Federal Reserve meeting later this week. The Nifty slipped below the 24,900 level. Pharma, auto and consumer durables shares declined while realty, media and PSU Bank shares advanced. At 09:25 IST, the barometer index, the S&P BSE Sensex declined 165.48 points or 0.20% to 81,630.67. The Nifty 50 index fell 66.55 points or 0.26% to 24,880.30. In the broader market, the S&P BSE Mid-Cap index rose 0.02% and the S&P BSE Small-Cap index fell 0.18%. The market breadth was positive. On the BSE, 1,436 shares rose and 1,348 shares fell. A total of 174 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth 2,539.42 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,780.96 crore in the Indian equity market on 16 June 2025, provisional data showed. Stocks in Spotlight: Zee Entertainment Enterprises advanced 1.52% after the companys board approved the proposal to raise Rs 2,237 crore from promoter entities via issuing 16.95 crore warrants at issue price of Rs 132 per share. The warrants are proposed to be allotted to Altillis Technologies and Sunbright Mauritius Investments. Biocon shed 0.92%. The companys board approved the issuance of qualified institutional placement (QIP) of Rs 4,500 crore at floor price of Rs 340.20 per equity share. Hikal rose 0.51%. The company has successfully passed the Brazilian Health Regulatory Agencys (ANVISA) GMP audit for its manufacturing unit located at Jigani in Bengaluru, Karnataka. The inspection, carried out by ANVISA, Brazil GMP (good manufacturing practices), was for multiple APIs which occurred from April 14th to April 18th, 2025. Numbers to Track: The yield on India's 10-year benchmark federal paper fell 0.22% to 6.257 from the previous close of 6.270. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.8900 compared with its close of 86.0450 during the previous trading session. MCX Gold futures for 5 August 2025 settlement fell 0.29% to Rs 98,850. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 98.17. The United States 10-year bond yield shed 0.49% to 4.430. Global Markets: US Dow Jones futures were down 133 points, signaling a weak start for Wall Street. Asian shares were a mixed bag on Tuesday as investors kept a close watch on the simmering Israel-Iran tensions. All eyes are now on the Bank of Japan, which is set to announce its policy decision later in the day. Expectations are that the BOJ will hold interest rates steady at 0.5%, opting for caution amid a murky global trade outlook. Back in the US, Wall Street closed in the green overnight. Hopes for a de-escalation in the Middle East boosted sentiment, with the Dow Jones climbing 0.75%, the S&P 500 gaining 0.94%, and the Nasdaq leading the rally with a 1.52% jump. On the corporate front, Roku shares popped after the company unveiled a new exclusive partnership with Amazon Ads. The deal is set to create the largest authenticated Connected TV (CTV) footprint in the US, a major win in the growing streaming ad market. Meanwhile, the US Federal Reserve begins its two-day meeting today. While interest rates are widely expected to remain unchanged at around 4.5%, the spotlight will be on any hints of a pivot to rate cuts, especially as inflation cools and growth shows signs of fatigue. Across the border, G7 leaders are gathering in Canada this week. The mood might be tense, with US President Donald Trumps tariffs on allied imports casting a shadow. Canadian PM Mark Carney has promised a push for peace and stability but hinted at potential retaliatory tariffs if Washington doesnt ease up on its steel and aluminum duties.
Business Standard
a day ago
- Business
- Business Standard
Yen extends slide ahead of BOJ decision
The Japanese yen slipped past 144.1 per dollar on Monday, marking its second day of losses as the dollar gained strength on safe-haven demand. Heightened geopolitical unrest fueled this move, with Israel and Iran ramping up attacks on each others critical energy assets over the weekend, pushing oil prices even higher. The surge in oil added to global market nerves and reinforced demand for the greenback. Traders now await the Bank of Japans policy decision this week, with rates expected to stay steady. Rising oil costs may test Japans inflation outlook.
