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Hans India
19-07-2025
- Business
- Hans India
Bank stocks, FII outflows drag markets lower
Mumbai: Benchmark Sensex tanked 501 points while Nifty closed below the 25,000 mark on Friday due to selling in banking shares after muted quarterly earnings and foreign fund outflows. Falling for the second straight day, the 30-share BSE Sensex declined by 501.51 points or 0.61 per cent to settle at 81,757.73. During the day, it shed 651.11 points or 0.79 per cent to hit a low of 81,608.13. The 50-share NSE Nifty dropped 143.05 points or 0.57 per cent to close at a month's low of 24,968.40. Analysts said investors turned cautious over banking stocks in response to Axis Bank's latest financial results, which fell short of market expectations. Among Sensex firms, Axis Bank tumbled the most by 5.24 per cent after it reported a 3 per cent dip in its June quarter consolidated net profit at Rs 6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policy. Devarsh Vakil, Head of Prime Research, HDFC Securities, said Axis Bank's latest financial results fell short of market expectations. 'Notably, Axis Bank's GDR tumbled 4.8 per cent to USD 64.30 on Thursday, following a deterioration in the bank's asset quality during the June quarter,' he said. Among blue-chip bank stocks, Axis Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India ended lower. Following the decline in bank stocks, the BSE Bankex ended 1.33 per cent lower at 62,741.65. Bharat Electronics, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Titan and Eternal were also among the laggards from the Sensex pack. However, Bajaj Finance, Tata Steel, ICICI Bank, HCL Tech and Infosys were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,694.31 crore on Thursday, according to exchange data. 'A broad-based sell-off was observed amidst a disappointing initial set of earnings from the finance and IT sectors.
The Print
18-07-2025
- Business
- The Print
Sensex tanks 501 pts, Nifty closes below 25k on selling in bank stocks, foreign fund outflows
The 50-share NSE Nifty dropped 143.05 points or 0.57 per cent to close at a month's low of 24,968.40. Falling for the second straight day, the 30-share BSE Sensex declined by 501.51 points or 0.61 per cent to settle at 81,757.73. During the day, it shed 651.11 points or 0.79 per cent to hit a low of 81,608.13. Mumbai, Jul 18 (PTI) Benchmark Sensex tanked 501 points while Nifty closed below the 25,000 mark on Friday due to selling in banking shares after muted quarterly earnings and foreign fund outflows. Analysts said investors turned cautious over banking stocks in response to Axis Bank's latest financial results, which fell short of market expectations. Among Sensex firms, Axis Bank tumbled the most by 5.24 per cent after it reported a 3 per cent dip in its June quarter consolidated net profit at Rs 6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policy. Devarsh Vakil, Head of Prime Research, HDFC Securities, said Axis Bank's latest financial results fell short of market expectations. 'Notably, Axis Bank's GDR tumbled 4.8 per cent to USD 64.30 on Thursday, following a deterioration in the bank's asset quality during the June quarter,' he said. Among blue-chip bank stocks, Axis Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India ended lower. Following the decline in bank stocks, the BSE Bankex ended 1.33 per cent lower at 62,741.65. Bharat Electronics, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Titan and Eternal were also among the laggards from the Sensex pack. However, Bajaj Finance, Tata Steel, ICICI Bank, HCL Tech and Infosys were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,694.31 crore on Thursday, according to exchange data. 'A broad-based sell-off was observed amidst a disappointing initial set of earnings from the finance and IT sectors. Elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, have contributed to a cautious sentiment among investors,' Vinod Nair, Head of Research, Geojit Investments Limited, said. 'Additional tariff threats are also casting a shadow on India over its trade relationship with Russia. Despite these pressures, the medium-to-long-term outlook for India remains optimistic, supported by low inflation levels and proactive monetary authority committed to sustaining economic growth,' Nair added. The BSE smallcap gauge declined 0.64 per cent and midcap index dipped 0.62 per cent. Among BSE sectoral indices, capital goods dropped 1.50 per cent, followed by bankex (1.33 per cent), industrials (1.08 per cent), telecommunication (0.99 per cent), power (0.90 per cent) and consumer durables (0.90 per cent). Metal, services and BSE Focused IT ended higher. On the weekly front, the BSE benchmark tumbled 742.74 points or 0.90 per cent, and the Nifty declined by 181.45 points or 0.72 per cent. In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled lower, while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended in positive territory. European markets were trading with gains. The US markets ended higher on Thursday. Global oil benchmark Brent crude climbed 0.92 per cent to USD 70.16 a barrel. On Thursday, the Sensex dropped 375.24 points or 0.45 per cent to settle at 82,259.24. The Nifty ended lower by 100.60 points or 0.40 per cent to 25,111.45. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
News18
18-07-2025
- Business
- News18
Sensex tanks 501 pts on selling in bank stocks, foreign fund outflows
Agency: PTI Last Updated: Mumbai, Jul 18 (PTI) Benchmark stock indices Sensex and Nifty tumbled on Friday, marking their second straight day of losses due to foreign fund outflows and selling in banking shares after a muted start to the quarterly earnings season. The 30-share BSE Sensex tanked 501.51 points or 0.61 per cent to settle at 81,757.73. During the day, it shed 651.11 points or 0.79 per cent to hit a low of 81,608.13. The 50-share NSE Nifty dropped 143.05 points or 0.57 per cent to close at 24,968.40. Analysts said investors turned cautious over banking stocks in response to Axis Bank's latest financial results, which fell short of market expectations. Among Sensex firms, Axis Bank tumbled the most by 5.24 per cent after it reported a 3 per cent dip in its June quarter consolidated net profit at Rs 6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policy. Devarsh Vakil, Head of Prime Research, HDFC Securities, said Axis Bank's latest financial results fell short of market expectations. 'Notably, Axis Bank's GDR tumbled 4.8 per cent to USD 64.30 on Thursday, following a deterioration in the bank's asset quality during the June quarter," he said. Among blue-chip bank stocks, Axis Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India ended lower. Bharat Electronics, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Titan and Eternal were also among the laggards from the Sensex pack. However, Bajaj Finance, Tata Steel, ICICI Bank, HCL Tech and Infosys were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,694.31 crore on Thursday, according to exchange data. In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled lower, while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended in positive territory. European markets were trading with gains. The US markets ended higher on Thursday. Global oil benchmark Brent crude climbed 0.92 per cent to USD 70.16 a barrel. On Thursday, the Sensex dropped 375.24 points or 0.45 per cent to settle at 82,259.24. The Nifty ended lower by 100.60 points or 0.40 per cent to 25,111.45. PTI SUM MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 18, 2025, 16:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
18-07-2025
- Business
- News18
Axis Bank shares tumble over 5 pc after Q1 earnings
Agency: PTI New Delhi, Jul 18 (PTI) Shares of Axis Bank on Friday ended over 5 per cent lower after the company reported a 3 per cent dip in June quarter consolidated net profit. The stock tanked 5.24 per cent to settle at Rs 1,099.10 on the BSE. During the day, it dropped 7.40 per cent to Rs 1,073.95. At the NSE, the stock dived 5.26 per cent to Rs 1,098.70. Intra-day, it tumbled 6.36 per cent to Rs 1,086 apiece. The stock emerged the biggest laggard among the Sensex and Nifty firms. The company's market valuation eroded Rs 18,808.81 crore to Rs 3,40,882.52 crore. In the equity market, the 30-share BSE Sensex ended 501.51 points lower at 81,757.73. The 50-share NSE Nifty dropped 143.05 points to 24,968.40. Devarsh Vakil, Head of Prime Research, HDFC Securities said, Axis Bank's latest financial results fell short of market expectations. 'Notably, Axis Bank's GDR tumbled 4.8 per cent to USD 64.30 on Thursday, following a deterioration in the bank's asset quality during the June quarter," he said. Axis Bank on Thursday reported a 3 per cent dip in its June quarter consolidated net profit at Rs 6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policy. On a standalone basis, the third largest private sector lender's net profit declined to Rs 5,806 crore, from the year-ago period's Rs 6,034 crore, but was down sharply when compared with the quarter-ago period's Rs 7,117 crore. 'Axis Bank reported disappointing Q1 numbers with a PAT decline of 4 per cent YoY," according to JM Financial Institutional Securities Ltd. The bank's core income showed low growth in the reporting period, but it was a Rs 614 crore hit brought about by what it called a 'technical impact" which hurt the profits. The bank's Managing Director and Chief Executive Amitabh Chaudhry told reporters that it decided to adopt a more prudent way of asset recognition, upgrades and treatment of accounts that have seen one-time settlements, as it had announced in the previous quarter, and added that economic losses due to the change will be 'minimum" going ahead. The gross non-performing assets ratio increased to 1.57 per cent from 1.28 per cent in the quarter-ago period, largely because of the technical impact. The gross slippages were at Rs 8,200 crore, as against Rs 4,805 crore in the preceding quarter, the bank said, adding that adjusting for the technical impact, the gross slippages stood at Rs 5,491 crore. PTI SUM TRB view comments First Published: July 18, 2025, 16:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Hindu
18-07-2025
- Business
- The Hindu
Sensex tanks 501 points on selling in bank stocks, foreign fund outflows
Benchmark stock indices Sensex and Nifty tumbled on Friday (July 18, 2025), marking their second straight day of losses due to foreign fund outflows and selling in banking shares after a muted start to the quarterly earnings season. The 30-share BSE Sensex tanked 501.51 points or 0.61%, to settle at 81,757.73. During the day, it shed 651.11 points or 0.79%, to hit a low of 81,608.13. The 50-share NSE Nifty dropped 143.05 points or 0.57%, to close at 24,968.40. Analysts said investors turned cautious over banking stocks in response to Axis Bank's latest financial results, which fell short of market expectations. Among Sensex firms, Axis Bank tumbled the most by 5.24% after it reported a 3% dip in its June quarter consolidated net profit at ₹6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policy. Devarsh Vakil, Head of Prime Research, HDFC Securities, said Axis Bank's latest financial results fell short of market expectations. 'Notably, Axis Bank's GDR tumbled 4.8% to $64.30 on Thursday (July 17, 2025), following a deterioration in the bank's asset quality during the June quarter,' he said. Among blue-chip bank stocks, Axis Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India ended lower. Following the decline in bank stocks, the BSE Bankex ended 1.33% lower at 62,741.65. Bharat Electronics, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Titan and Eternal were also among the laggards from the Sensex pack. However, Bajaj Finance, Tata Steel, ICICI Bank, HCL Tech and Infosys were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,694.31 crore on Thursday (July 17, 2025), according to exchange data. In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled lower, while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended in positive territory. European markets were trading with gains. The U.S. markets ended higher on Thursday (July 17, 2025). Global oil benchmark Brent crude climbed 0.92% to $70.16 a barrel. On Thursday (July 17, 2025), the Sensex dropped 375.24 points or 0.45%, to settle at 82,259.24. The Nifty ended lower by 100.60 points or 0.40%, at 25,111.45.
