Latest news with #D-street
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Business Standard
13 hours ago
- Business
- Business Standard
Sensex drops 500 pts, Nifty below 25,200 as IT stocks drag
Stock Market Today: Benchmark equity indices fell sharply as investors resorted to profit booking following the uptrend seen earlier this week. IT stocks were among the biggest drags as earnings for the first quarter of financial year 2025-2026 (Q1FY26) failed to uplift the overall sector outlook. At 11:45 AM, BSE Sensex was trading at 82,300.08 level, down by 423 points or 0.51 per cent. The 30-scrip index logged an intraday low of 82,047.22. So far this week, the index has risen over 450 points. Meanwhile, NSE Nifty was trading at 25,097.85, 122 points or 0.48 per cent. The index hit an intraday low of 25,018.70. From the Sensex pack, majority stocks were trading in red with Trent, Tech Mahindra, Reliance, Infosys, and Bajaj Finance among the top losers. On the flip side, Eternal (formerly Zomato), Tata Motors, Sun Pharma, Tata Steel and Titan were among the top gainers. Even broader markets failed to trade in the green territory. The Nifty midcap 100 was trading at 58,954.15, down by 0.60 per cent. Nifty smallcap 100 followed suit and was trading 0.83 per cent lower, quoting 18,735.95. Sectorally, Nifty Pharma was among the top-performing indices, up by 0.63 per cent, quoting 22,559.15. Nifty Auto was also trading in green, up by 0.19 per cent, trading at 24,125.80. On the other hand, Nifty IT was down by over 2 per cent, trading at 36,138 level. Here's why markets are trading lower today: IT stocks drag IT stocks continued to witness selling pressure as industry giants failed to impress investors during the earnings season. Infosys shares dropped over 1 per cent despite releasing upbeat results. Even midcap IT firms failed to lift the sector mood. Shares of Persistent Systems were trading at ₹5,177.50, down by 7.66 per cent. Shares of Coforge witnessed an even steeper fall, down by over 8 per cent, quoting ₹1,689. The Nifty IT index hit an intraday low of 36,118 level. FII selloff Foreign institutional investors (FIIs) extended their selling streak in July after being net buyers for three consecutive months. Prevailing uncertainties on the macro front, owing to trade deals and the ongoing earnings season, have contributed to the cautious sentiment. That apart, the current valuations of the Indian stock market might have also added to the overall jitters. According to D-Street analysts, the current valuations of Indian markets remain elevated compared to global peers, which is likely pushing back foreign investor interest. Interestingly, the primary market showed a contrasting trend, attracting strong participation despite the broader market pullback. "FIIs have turned consistent sellers in the cash market even while continuing to invest through the primary market route. The principal reason for FII selling is the high valuations in India and relatively cheaper valuations in other markets," said VK Vijayakumar, chief investment strategist of Geojit Investments. Profit-booking So far this week, the D-street sentiment remained largely bullish. Even in the previous trading session, markets finished with high gains. BSE Sensex was up by nearly 540 points or 0.66 per cent, whereas NSE Nifty surged by 159 points or 0.63 per cent. The optimism mainly came on the back of rising anticipations of India striking a trade deal with the US, following Japan's 'massive' trade agreement with Washington. However, concrete developments are yet to come in ahead of the August 1 tariff deadline, keeping the market mood cautiously optimistic.
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Business Standard
4 days ago
- Business
- Business Standard
Sensex jumps 400 pts, Nifty above 25,000; ICICI Bank, HDFC Bank lead gains
Stock market today: The Indian stock market started the week on a robust tone on Monday, July 21, banking sector giants -- HDFC Bank and ICICI Bank -- announced healthy earnings for the first quarter of the financial year 2025-2026 (Q1FY26) over the weekend. At 11:42 AM, Sensex was up by 337 points or 0.41 per cent, quoting at 82,095. The index hit an intra-day high of 82,161.55, up by 403 points. Whereas, Nifty was trading above the key psychological 25,000 level, up by 50 points or 0.20 per cent. The index hit an intra-day high of 25,079.50. From the Sensex pack, Eternal (Zomato), ICICI Bank, HDFC Bank, UltraTech Cement and Kotak Mahindra Bank were among the top gainers. On the flip side, Reliance, Hindustan Unilever, HCL Tech, TCS and Axis Bank were among the top laggards. Broader markets signalled mixed trends. The Nifty midcap 100 was trading at 59,307, up by 0.34 per cent. However, the Nifty smallcap index struggled to trade in the green territory, down by 0.19 per cent, quoting 18,924. Sectorally, Nifty Bank was among the top-performing indices, up by 0.74 per cent and trading at 56,700. Nifty Metal also showcased strength and was trading at 9,556, up by 1.04 per cent. On the other hand, Nifty PSU Bank was among the worst-performing indices, down by 0.66 per cent, quoting 7,115. Nifty IT followed suit and declined by 0.45 per cent, trading at 36,973. Sector Play After experiencing subdued investor interest last week, banking stocks came out on top once again as sector giants reported their earnings for the quarter. Despite reporting a slight decline in the consolidated net profit figure to ₹16,258 crore in Q1FY26, analysts are upbeat on HDFC Bank's outlook. Meanwhile, ICICI Bank's profit after tax (PAT) for the quarter under review stood at ₹12,768 crore, up by 15.5 per cent year-on-year (Y-o-Y). HDFC shares were trading at ₹1,989.50, up by 1.64 per cent on the National Stock Exchange, at the time of writing this report. ICICI Bank shares followed a similar trend and were trading at ₹1,457.6, up by 2.23 per cent. However, shares of the Mukesh Ambani-owned conglomerate, Reliance Industries (RIL) failed to impress D-street investors despite a 78.3 Y-o-Y rise in net profit. The overall results for Q1FY26 came-in below D-street expectations, which eventually pushed the shares of the company in the red territory, down by 2.5 per cent. "Weekend Q1 results were good with ICICI Bank reporting the best numbers, particularly in PAT and credit growth. HDFC Bank also reported steady set of numbers. In the banking results, so far, Axis Bank's numbers are the most disappointing. Flow of institutional funds from some banks to ICICI Bank is a possibility, going forward," said VK Vijayakumar, chief investment strategist at Geojit Investments. FPIs on selling spree That said, the upside in the markets remain capped amid sticky sell-off by foreign investors. After three consecutive months of buying, foreign portfolio investors (FPIs) became net sellers in the Indian stock market in July 2025. Last week, the pace of selling was accelerated as FPIs sold equities worth ₹10,775 crores in the Indian stock market, as per data from NSDL. Interestingly, FPIs remained buyers in the primary market. "The important take away from this dualistic behaviour of the FPIs is that whenever valuations get stretched in the secondary market, they sell but consistently buy in the primary market (QIP), where valuations are fair. So long as valuations remain elevated this trend will continue," Vijaykumar said. That apart, India's underperformance as compared to other emerging markets might have contributed to the selling spree, according to D-street analysts.
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Business Standard
4 days ago
- Business
- Business Standard
Stock to Watch today, July 21: Reliance, HDFC Bank, ICICI Bank, Dr. Reddy's
Stocks to watch today, July 21: The Indian stock market is poised for a flat start, continuing the range-bound movement as the August 1 trade tariff deadline nears. At 7:26 AM, GIFT Nifty futures were trading 9 points lower at 25,018, signalling a muted start. India Inc.'s earnings season for the first quarter of the financial year 2025-2026 (Q1FY26) failed to bring positive surprises for D-street, which eventually weighed down the overall market sentiment. In the Asia-Pacific region, markets signalled mixed trends. Japan's Nikkei was trading at 39,819.11 level, down by 82 points or 0.21 per cent. However, the Hang Seng continued its positive trajectory, quoting 24,927.91, up by 101 points or 0.41 per cent. South Korea's equity benchmark index, Kospi, followed suit, trading at 3,206 level, up by 0.59 per cent. However, global markets remained largely flat. The S&P 500 concluded the previous trading session at 6,296.79 level, down by 0.01 per cent. The Dow Jones Industrial Average settled at 44,342.19, down by 142 points or 0.32 per cent. For the week ahead, investor sentiment will be guided by the latest updates on trade tariff developments. Market participants will also keep a close watch on the upcoming speech by the US Federal Reserve chairman Jerome Powell. Meanwhile, D-street analysts believe that robust earnings by India Inc. will be necessary to justify India's premium valuations. Q1FY26 earnings today UltraTech Cement, Eternal, Havells India, Globe Civil Projects and IDBI Bank are some of the top companies set to announce their earnings for the quarter ending June 30, 2025. Besides, Oberoi Realty, UCO Bank, PNB Housing Finance, Mahindra Logistics and Dodla Dairy will also announce their Q1 results on June 21, 2025. Here is a list of stocks to watch today: Reliance: The Mukesh Ambani-led conglomerate witnessed a robust rise of 76.5 per cent in profit after tax (PAT) to ₹30,783 crore in Q1FY26 from ₹17,445 crore reported in the corresponding period of the previous fiscal year. The company's revenue figure stood at ₹2,73,252 crore, marking a 6 per cent surge from ₹2,57,823 crore reported in Q1FY25. The retail segment's gross revenue increased 11 per cent to ₹84,171 crore in Q1FY26 from ₹75,615 crore recorded in the same period of the previous fiscal year. The company saw strong growth momentum in almost all verticals except the exploration and production segment(E&P). ICICI Bank: The bank's PAT stood at ₹12,768 crore, marking a 15.5 per cent year-on-year (Y-o-Y) surge in Q1FY26. ICICI Bank's NII increased by 10.6 per cent Y-o-Y to ₹ 21,635 crore during the quarter ending June 30, 2025, from ₹19,553 crore reported in the corresponding period of the previous fiscal year. Meanwhile, net interest margin stood at 4.34 per cent in Q1FY26 as against 4.36 per cent recorded in the corresponding quarter of the previous year. HDFC Bank: The bank's consolidated net profit figure stood at ₹16,258 crore in Q1FY26, a marginal decline of 1.3 per cent from ₹16,475 crore recorded in the corresponding quarter of the previous fiscal year. That apart, core net interest margin also witnessed a slight decline to 3.35 per cent from 3.46 per cent reported in the previous quarter. Meanwhile, average CASA deposits stood at ₹8,604 billion, up 6.1 per cent Y-o-Y. JSW Steel: The company witnessed a minor surge in revenue from operations figure, which stood at ₹43,147 crore in Q1FY26 from ₹42,943 crore reported in the corresponding quarter of the previous fiscal year. However, PAT surged to ₹2,209 crore during the quarter under review from ₹867 crore recorded in Q1FY25. The company reported capacity utilisation in India at 87 per cent for Q1FY26, impacted by planned maintenance shutdowns. Consolidated crude steel production stood at 7.26 million tonnes, registering a 14 per cent Y-o-Y growth. PCBL Chemical: The company informed the bourses in its latest exchange filing that the Central Tax and Central Excise, Cochin, has issued an order regarding the alleged incorrect claim of input service credit for the financial year 2011–12. As per the order, a proposed demand of ₹1,74,05,532 has been dropped. However, a demand of ₹1,55,15,539 has been confirmed, along with interest and penalty of ₹1,15,55,539. As per the company's evaluation of the order issued, there is no material impact on financial, operational or other activities of the company arising from the said order, the exchange filing read. Brigade Enterprises: The real estate developer has acquired a 20.19-acre land parcel in the Whitefield–Hoskote corridor of Bengaluru for ₹588.33 crore. According to the exchange filing, the acquisition was made via Ananthay Properties Pvt. Ltd., which is a wholly-owned subsidiary of Brigade Enterprises. Globe Civil Projects: The company informed the bourses in its latest exchange filing that it has secured an EPC order worth ₹172.99 crore from NBCC (India) Ltd. The project involves the development of infrastructure facilities and buildings for the Central University of Punjab. The project is scheduled to be completed within 21 months. Yes Bank: The bank's net profit for the quarter ending June 30, 2025, stood at ₹801 crore, up 59.4 per cent from ₹502 crore recorded in the same period of the previous fiscal year. Net interest margin remained stable quarter-on-quarter at 2.5 per cent, rising 10 bps Y-o-Y. Non-interest income stood at ₹1,752 crore, marking a 46.1 per cent Y-o-Y growth. The CASA ratio improved by 200 bps Y-o-Y to 32.8 per cent, backed by a strong 10.8 per cent growth in CASA deposits. Dr. Reddy's: The pharma company informed the bourses in its latest exchange filing that the USFDA conducted a Good Manufacturing Practice (GMP) and Pre-Approval Inspection at its FTO 11 formulations facility in Srikakulam, Andhra Pradesh, from July 10 to July 18, 2025. A Form 483 with seven observations was issued, which the Company plans to address within the stipulated timeline. Union Bank of India: The banking firm reported a 12 per cent rise in its net profit figure to ₹4,116 crore for the quarter ending June 30, 2025, from ₹3,679 crore recorded in the corresponding quarter of the previous fiscal year. However, net interest margin (NIM) declined by 29 basis points (bps) to 2.76 per cent (on Y-o-Y basis) in Q1FY26. Meanwhile, net interest income also declined by 3.18 per cent to ₹9,113 crore during the quarter as against ₹9,412 crore recorded in Q1FY25. Central Bank of India: The bank's net profit figure for the quarter ending June 30, 2025, was up by 32.84 per cent to ₹1,169 crore, from ₹880 crore recorded in the corresponding quarter of the previous fiscal year. Net interest income during the same period stood at ₹3,383 crore. That apart, the banking firm's net interest margin for the quarter under review was recorded at 3.16 per cent. Waaree Energies: The company, in its latest exchange filing, stated that its wholly owned subsidiary, Waaree Solar Americas, has received an order for the supply of 500 MW solar modules from a renowned developer and owner-operator of utility-scale solar and energy storage projects in the US. The modules are scheduled to be supplied during the financial year 2026–27. Texmaco Rail & Engineering: The railway engineering and infrastructure company has received a purchase order from Ultratech Cement Limited valued at ₹47.77 crore for the supply of BOXNHL wagons along with a BVCM Brake Van. According to the exchange filing, the order is scheduled to be executed by mid-October 2025.
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Business Standard
6 days ago
- Business
- Business Standard
Sensex falls 650 pts, Nifty below 25k: Why are stock markets falling today?
Stock market today: Equity benchmark indices continued to trade lower for the second straight day as D-street analysts raised banners of 'caution' amidst heightened uncertainty on the macro front. At 11:30 AM, the Sensex was down by 486 points or 0.59 per cent, quoting at 81,769.09. The index hit an intra-day low of 81,608 down by 651 points. Whereas, NSE Nifty was trading below the key psychological 25,000 level, down by 140 points or 0.56 per cent. The 50-scrip index hit an intra-day low of 24,918.65. Nearly all stocks from the Sensex pack were trading in red, with Axis Bank, Bharti Airtel, Kotak Bank, Adani Ports and Bharat Electronics (BEL) among the top laggards. Axis Bank failed to impress D-street investors in first quarter earnings for the financial year 2025-2026 (Q1FY26) as net profits declined 3.8 per cent year-on-year (Y-o-Y) to ₹5,806 crore. Axis Bank shares were trading at ₹1,111.10, down by over 6 per cent on Friday. On the other hand, Tata Steel, Bajaj Finance, Infosys, Tata Motors and PowerGrid managed to trade in green. Even broader markets failed to showcase positive momentum. The Nifty Midcap 100 was trading at 59,255, down by 0.44 per cent. The Nifty Smallcap index followed suit, and was down by 0.43 per cent, quoting 19,034.75. Almost all sectors were in red with the Nifty private bank among the worst-performing indices, declining 1.32 per cent, trading at 27,575. However, Nifty Media was up by 0.17 per cent, quoting at 1,757. Nifty Metal also remained in green, up by 0.21 per cent, trading at 9,443. Here's why stock markets are down today: FII selling Indian markets have so far (in July) underperformed global markets. Analysts believe that the selling spree of foreign institutional investors (FIIs) has been a key contributor to this downward trend. While FIIs were net buyers earlier this year, the elevated valuation of the Indian market as compared to peer markets prompted them to switch gears. In the previous trading session (Thursday), FIIs remained net sellers in the market, offloading equities worth ₹3,694 crore. While domestic institutional investors (DIIs) were net buyers in the market, purchasing equities worth ₹2,820 crore. "Along with selling in the cash market FIIs have been increasing short positions in the derivatives market too, which reflect a bearish outlook. Elevated valuations in India and cheaper valuations in other markets will continue to influence FII activity," said VK Vijayakumar, chief investment strategist at Geojit Investments. Trump tariffs While speculations around a prospective trade deal between the US and India continue to linger, keeping investor sentiment on edge, there has been no solidified development on trade tariffs as of now. However, hopes remained high ahead of the August 1 tariff deadline. President Trump even said that the US is "very close" to striking a deal with India. "We are very close to a deal with India where they open it [the market] up," Trump told reporters at the White House earlier this week. Weak Q1 earnings by Axis Bank, IT stocks So far, the Q1FY26 earnings season has failed to surprise D-street investors. IT giants, including Tata Consultancy Services (TCS) and HCL Tech, reported subdued results for the quarter. This has kept market movement largely muted. However, for the coming weeks, D-street analysts believe that markets will trade range-bound. "Going forward, markets are likely to remain in consolidation mode, with focus on ongoing earnings and progress in US-India trade negotiations," said Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services.
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Business Standard
7 days ago
- Business
- Business Standard
Sensex falls 500 pts, Nifty below 25k: Here's why markets are trading lower
Stock market today: Equity benchmark indices continued to trade lower for the secont straight day as D-street analysts raised banners of 'caution' amidst heightened uncertainty on the macro front. At 11:30 AM, the Sensex was down by 486 points or 0.59 per cent, quoting at 81,769.09. The index hit an intra-day low of 81,628.26, down by over 500 points. Whereas, NSE Nifty was trading below the key psychological 25,000 level, down by 140 points or 0.56 per cent. The 50-scrip index hit an intra-day low of 24,925.25. Nearly all stocks from the Sensex pack were trading in red, with Axis Bank, Bharti Airtel, Kotak Bank, Adani Ports and Bharat Electronics (BEL) among the top laggards. Axis Bank failed to impress D-street investors in first quarter earnings for the financial year 2025-2026 (Q1FY26) as net profits declined 3.8 per cent year-on-year (Y-o-Y) to ₹5,806 crore. Axis Bank shares were trading at ₹1,111.10, down by over 6 per cent on Friday. On the other hand, Tata Steel, Bajaj Finance, Infosys, Tata Motors and PowerGrid managed to trade in green. Even broader markets failed to showcase positive momentum. The Nifty Midcap 100 was trading at 59,255, down by 0.44 per cent. The Nifty Smallcap index followed suit, and was down by 0.43 per cent, quoting 19,034.75. Almost all sectors were in red with the Nifty private bank among the worst-performing indices, declining 1.32 per cent, trading at 27,575. However, Nifty Media was up by 0.17 per cent, quoting at 1,757. Nifty Metal also remained in green, up by 0.21 per cent, trading at 9,443. Here's why stock markets are down today: FII activity Indian markets have so far (in July) underperformed global markets. Analysts believe that the selling spree of foreign institutional investors (FIIs) has been a key contributor to this downward trend. While FIIs were net buyers earlier this year, the elevated valuation of the Indian market as compared to peer markets prompted them to switch gears. In the previous trading session (Thursday), FIIs remained net sellers in the market, offloading equities worth ₹3,694 crore. While domestic institutional investors (DIIs) were net buyers in the market, purchasing equities worth ₹2,820 crore. "Along with selling in the cash market FIIs have been increasing short positions in the derivatives market too, which reflect a bearish outlook. Elevated valuations in India and cheaper valuations in other markets will continue to influence FII activity," said VK Vijayakumar, chief investment strategist at Geojit Investments. Trade tariffs While speculations around a prospective trade deal between the US and India continue to linger, keeping investor sentiment on edge, there has been no solidified development on trade tariffs as of now. However, hopes remained high ahead of the August 1 tariff deadline. President Trump even said that the US is "very close" to striking a deal with India. "We are very close to a deal with India where they open it [the market] up," Trump told reporters at the White House earlier this week. Weak Q1 earnings So far, the Q1FY26 earnings season has failed to surprise D-street investors. IT giants, including Tata Consultancy Services (TCS) and HCL Tech, reported subdued results for the quarter. This has kept market movement largely muted. However, for the coming weeks, D-street analysts believe that markets will trade range-bound. "Going forward, markets are likely to remain in consolidation mode, with focus on ongoing earnings and progress in US-India trade negotiations," said Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services.
