Latest news with #GeojitInvestments
Business Recorder
2 days ago
- Business
- Business Recorder
Indian stocks linger around 6-week low on trade deal jitters, foreign outflows
Indian shares were muted in early trades on Tuesday, with benchmark indexes near six-week lows, as concerns over a delay in signing a trade deal with the United States and sustained foreign outflows hurt demand. The Nifty 50 was up 0.09% at 24,703 points and the BSE Sensex added 0.04% to 80,924.62, as of 9:34 a.m. IST. The indexes hit their lowest since June 13 earlier in the session. Ten of the 16 major sectors rose, but heavyweight financials and information technology were down 0.2% and 0.5%, respectively. The broader mid-cap and small-caps were little changed. 'There are more headwinds than tailwinds for now. The major issue weighing on markets is that the expected trade deal between India and the U.S. has not happened so far,' said VK Vijayakumar, chief investment strategist at Geojit Investments. Negotiations between India and the United States remained deadlocked over tariff cuts on agriculture and dairy products, dimming hopes of a trade deal ahead of U.S. President Donald Trump's August 1 deadline, Reuters reported last week, citing two Indian government sources. Trump said Monday that most trading partners who do not negotiate separate deals would soon face tariffs of 15% to 20% on their exports to the U.S., well above the broad 10% tariff he imposed in April. Indian shares dragged down by Kotak Mahindra Bank, TCS; trade deal delay weighs Meanwhile, foreign portfolio investors sold Indian shares worth 60.81 billion rupees ($700.92 million) on Monday, as per provisional data, marking their biggest selling in India since May 30. Among stocks, IndusInd Bank rose about 1% after the private lender swung back to profit in the first quarter, but concerns over weak return on asset outlook and worsened asset quality capped gains. Solar module maker Waaree Energies jumped about 5% and was the top midcap gainer after it posted higher quarterly revenue and profit, while Mazagon Dock Shipbuilders was the top midcap loser due to a decline in profit.
Mint
2 days ago
- Business
- Mint
Indian stocks linger around 6-week low on trade deal jitters, foreign outflows
(Updates for morning trade) July 29 (Reuters) - Indian shares were muted in early trades on Tuesday, with benchmark indexes near six-week lows, as concerns over a delay in signing a trade deal with the United States and sustained foreign outflows hurt demand. The Nifty 50 was up 0.09% at 24,703 points and the BSE Sensex added 0.04% to 80,924.62, as of 9:34 a.m. IST. The indexes hit their lowest since June 13 earlier in the session. Ten of the 16 major sectors rose, but heavyweight financials and information technology were down 0.2% and 0.5%, respectively. The broader mid-cap and small-caps were little changed. "There are more headwinds than tailwinds for now. The major issue weighing on markets is that the expected trade deal between India and the U.S. has not happened so far," said VK Vijayakumar, chief investment strategist at Geojit Investments Negotiations between India and the United States remained deadlocked over tariff cuts on agriculture and dairy products, dimming hopes of a trade deal ahead of U.S. President Donald Trump's August 1 deadline, Reuters reported last week, citing two Indian government sources. Trump said Monday that most trading partners who do not negotiate separate deals would soon face tariffs of 15% to 20% on their exports to the U.S., well above the broad 10% tariff he imposed in April. Meanwhile, foreign portfolio investors sold Indian shares worth 60.81 billion rupees ($700.92 million) on Monday, as per provisional data, marking their biggest selling in India since May 30. Among stocks, IndusInd Bank rose about 1% after the private lender swung back to profit in the first quarter, but concerns over weak return on asset outlook and worsened asset quality capped gains. Solar module maker Waaree Energies jumped about 5% and was the top midcap gainer after it posted higher quarterly revenue and profit, while Mazagon Dock Shipbuilders was the top midcap loser due to a decline in profit. (Reporting by Vivek Kumar M; Editing by Eileen Soreng and Ronojoy Mazumdar)
Economic Times
3 days ago
- Business
- Economic Times
Sensex falls 700 pts from day's peak, Nifty below 24,700. Here are 5 reasons why the Indian stock market is in a downtrend
Indian equities fell sharply on Monday, with the benchmark BSE Sensex tumbling 726.6 points from its intraday high and the NSE Nifty dipping below the key 24,700-mark, as weak quarterly earnings, stalled trade negotiations with the U.S., fresh layoffs in the IT sector, and continued foreign investor outflows weighed heavily on market sentiment. ADVERTISEMENT At 2:14 PM, the 3-stock Sensex index was down 575.01 points to 80,901.30, while the Nifty had dropped 156.05 points to 24,680.95. Both the benchmarks have logged four consecutive weekly losses. Mid-cap and small-cap indices also mirrored the broader decline, falling 1% and 1.1%, respectively, underlining the breadth of weakness across segments. Negotiations between India and the United States remained deadlocked, particularly over tariff reductions on agriculture and dairy products, dampening hopes of an interim deal before U.S. President Donald Trump's August 1 contrast, the U.S. and European Union struck a framework agreement over the weekend, easing broader trade war concerns and highlighting India's diplomatic lag. ADVERTISEMENT "Negative news and triggers have pushed the Nifty to a one-month low, and market sentiments continue to be unfavourable. While trade deals with Japan and EU, thought to be difficult initially, have happened, the much expected India-US trade deal is even now hanging fire. This has impacted market sentiments," said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments. ADVERTISEMENT Disappointing corporate earnings continued to weigh on sentiment, with Kotak Mahindra Bank plunging 7.8% to Rs 1,960.1 after reporting a decline in quarterly profit and deterioration in key metrics such as asset quality and margins. The stock was the worst performer on the Nifty 50 and led losses in the banking sector, dragging the Nifty Bank index down 1%.Kotak's quarterly gross non-performing assets rose to 1.48% of total loans from 1.39% a year earlier, while its net interest margin fell to 4.65% from 5.02%. The decline in profitability followed interest rate cuts by the Reserve Bank of India, which narrowed spreads as lending rates fell faster than deposit rates. ADVERTISEMENT Earlier this month, Axis Bank had also reported underwhelming results, sparking renewed concerns around asset quality across the financial sector.'Q1 results... are not yet indicating any major positive surprises. Investors have to be cautious and stock-specific in this weak phase of the market. There is safety in largecaps banks like ICICI Bank and HDFC Bank which have come out with the best results in the segment with prospects of improvement going forward,' said Dr. Vijayakumar. ADVERTISEMENT Shares of large-cap IT companies extended their decline after Tata Consultancy Services (TCS) said it would cut around 2% of its global workforce, about 12,000 employees, amid weak demand and structural realignment efforts. The Nifty IT index dropped 1.6%, deepening losses in what has become 2025's worst-performing sector, down 24% from its shares slid 1.7% to Rs 3,081.60 after the company stated, 'The deployment of some associates may no longer be feasible under current market conditions.' TCS clarified that the move was not AI-driven but stemmed from realignment followed suit, with Wipro dropping 3.5% to Rs 250.05, Infosys declining 2.2% to Rs 1,482.50, HCL Tech falling 1.1%, and Tech Mahindra shedding nearly 1%."The sharp cut in the IT index has been dragging the market down, and there is no respite in this in view of the 2% cut in its global workforce announced by TCS. However, midcap IT names hold promise in view of their strong growth prospects," said Dr. warned of wider repercussions, noting: 'TCS' move to cut 2% of its workforce may lead to execution slippages in the near-term and higher attrition in the longer-run for the firm and reflects a weak demand environment for the sector.'The brokerage added that TCS's recent decisions, including the April wage hike deferral and the June policy restricting non-billable periods, signal a sustained focus on cost containment. 'The ongoing lay-offs will hurt employee morale and could potentially lead to execution slippages. In the longer run, such policies could drive a sharp rise in attrition, similar to what was seen at Cognizant during 2020–22.'Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth Rs 1,979 crore on July 25, marking their fifth straight session of withdrawals. In contrast, Domestic Institutional Investors (DIIs) bought equities worth Rs 2,138 crore."FII selling of Rs 13,552 crores in the cash market last week has added to the weakness in the market," noted Dr. a technical standpoint, downside pressure remains intact with key support levels coming into view."The major supports are at 24,450 and 24,000, but we will begin the week expecting downsides to not extend beyond the 24,750–650 region. A swing higher is expected this week, but oscillator divergences seen in intraday periodicities that have signalled the same are yet to be visible in larger time frames," said Anand James, Chief Market Strategist, Geojit Investments. "This gives room for downside momentum to prevail over for some more time. However, direct rise above 24,922 could initiate short covering. In such a scenario, 25,324 may be played for, even though 25,000 region may resist initially," said James. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
6 days ago
- Business
- Mint
Sensex drops 732 points; investors lose ₹6.5 lakh crore in a day— 10 key highlights from the Indian stock market today
The Indian stock market ended with significant losses for the second consecutive session on Friday, July 25. The Sensex closed 721 points, or 0.88 per cent, down at 81,463.09, while the Nifty 50 settled 225 points, or 0.90 per cent, lower at 24,837. The market saw an overall sell-off, and the mid- and small-cap segments ended with even deeper losses. The BSE Midcap index declined 1.46 per cent, while the Smallcap index crashed 1.88 per cent. Investors lost nearly ₹ 6.5 lakh crore in a single day as the cumulative market capitalisation of BSE-listed firms dropped to nearly ₹ 451.7 lakh crore from ₹ 458.11 lakh crore in the previous session. Weak earnings, delayed India-US trade deal, relentless foreign capital outflow amid stretched valuation of the domestic market are the key factors behind the market's downtrend. "Subdued corporate results and lacklustre global cues triggered a broad-based sell-off across domestic equities. Elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, added to the downward pressure," Vinod Nair, Head of Research, Geojit Investments, observed. "Investor sentiment remained fragile amid ongoing uncertainty over US-India tariff negotiations and the ECB maintaining the status quo, with rate cuts deferred until clearer insights emerge on the inflationary impact of trade developments. Moderation in DII inflows after the strong buying of the last two to three months, due to a muted earnings season and persistent FII selling, continues to impact the current market," said Nair. Only seven stocks managed to end in the green in the Nifty 50 index, among which Cipla (up 3.17 per cent), SBI Life Insurance Company (up 2.07 per cent), and Apollo Hospitals (up 1.50 per cent) stood at the top. Shares of Bajaj Finance (down 4.81 per cent), Shriram Finance (down 3.64 per cent), and IndusInd Bank (down 2.64 per cent) ended as the top losers in the index. Barring Nifty Healthcare (up 0.69 per cent) and Pharma (up 0.54 per cent), all sectoral indices ended with losses, with Media (down 2.61 per cent), Oil & Gas (down 1.96 per cent), PSU Bank (down 1.70 per cent), and Metal (down 1.64 per cent) losing heavily. Nifty Bank dropped 0.94 per cent, while the Financial Services ended 0.88 per cent lower. Jayaswal Neco Industries (34.72 crore shares), Vodafone Idea (23.83 crore shares), and Ola Electric Mobility (13.61 crore shares) were the most active stocks in terms of volume on the NSE. Defying weak market sentiment, 15 stocks, including The Phosphate Company, Aashka Hospitals, Sharda Cropchem, Kellton Tech Solutions, Sharika Enterprises, and Vimta Labs, surged over 10 per cent on the BSE. B-Right Realestate, Eighty Jewellers, Jonjua Overseas, and Hexaware Technologies were among the seven stocks that crashed more than 10 per cent on the BSE. Out of 4,154 stocks traded on the BSE, 1,116 advanced, while 2,893 declined. Some 145 stocks remained unchanged. While the stock market ended with significant losses, as many as 111 stocks, including ICICI Bank, eClerx Services, Home First Finance Company India, Laurus Labs, Sai Life Sciences, Shyam Metalics and Energy, and Torrent Pharmaceuticals, hit their 52-week highs in intraday trade. Praveen Dwarakanath, Vice President of pointed out that the Nifty sharply fell from its resistance of 25,200 and closed near its support at 24,800, indicating a possible bounce in the index from the current level. Dwarakanath further highlighted that the index has closed near the lower Bollinger band, a support from which can push the index upside. The momentum indicators in today's fall have entered the oversold region, which can also push the markets upward from current levels. Dwarakanath also said the index is at a strong weekly buy level between 24,600 and 24,800. A bounce from this level can present a strong selling opportunity near the 25,200 levels. Read all market-related news here Read more stories by Nishant Kumar
Mint
6 days ago
- Business
- Mint
Sensex drops 732 points; investors lose ₹6.5 lakh crore in a day— 10 key highlights from the Indian stock market today
The Indian stock market ended with significant losses for the second consecutive session on Friday, July 25. The Sensex closed 721 points, or 0.88 per cent, down at 81,463.09, while the Nifty 50 settled 225 points, or 0.90 per cent, lower at 24,837. The market saw an overall sell-off, and the mid- and small-cap segments ended with even deeper losses. The BSE Midcap index declined 1.46 per cent, while the Smallcap index crashed 1.88 per cent. Investors lost nearly ₹ 6.5 lakh crore in a single day as the cumulative market capitalisation of BSE-listed firms dropped to nearly ₹ 451.7 lakh crore from ₹ 458.11 lakh crore in the previous session. Weak earnings, delayed India-US trade deal, relentless foreign capital outflow amid stretched valuation of the domestic market are the key factors behind the market's downtrend. "Subdued corporate results and lacklustre global cues triggered a broad-based sell-off across domestic equities. Elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, added to the downward pressure," Vinod Nair, Head of Research, Geojit Investments, observed. "Investor sentiment remained fragile amid ongoing uncertainty over US-India tariff negotiations and the ECB maintaining the status quo, with rate cuts deferred until clearer insights emerge on the inflationary impact of trade developments. Moderation in DII inflows after the strong buying of the last two to three months, due to a muted earnings season and persistent FII selling, continues to impact the current market," said Nair. Only seven stocks managed to end in the green in the Nifty 50 index, among which Cipla (up 3.17 per cent), SBI Life Insurance Company (up 2.07 per cent), and Apollo Hospitals (up 1.50 per cent) stood at the top. Shares of Bajaj Finance (down 4.81 per cent), Shriram Finance (down 3.64 per cent), and IndusInd Bank (down 2.64 per cent) ended as the top losers in the index. Barring Nifty Healthcare (up 0.69 per cent) and Pharma (up 0.54 per cent), all sectoral indices ended with losses, with Media (down 2.61 per cent), Oil & Gas (down 1.96 per cent), PSU Bank (down 1.70 per cent), and Metal (down 1.64 per cent) losing heavily. Nifty Bank dropped 0.94 per cent, while the Financial Services ended 0.88 per cent lower. Jayaswal Neco Industries (34.72 crore shares), Vodafone Idea (23.83 crore shares), and Ola Electric Mobility (13.61 crore shares) were the most active stocks in terms of volume on the NSE. Defying weak market sentiment, 15 stocks, including The Phosphate Company, Aashka Hospitals, Sharda Cropchem, Kellton Tech Solutions, Sharika Enterprises, and Vimta Labs, surged over 10 per cent on the BSE. B-Right Realestate, Eighty Jewellers, Jonjua Overseas, and Hexaware Technologies were among the seven stocks that crashed more than 10 per cent on the BSE. Out of 4,154 stocks traded on the BSE, 1,116 advanced, while 2,893 declined. Some 145 stocks remained unchanged. While the stock market ended with significant losses, as many as 111 stocks, including ICICI Bank, eClerx Services, Home First Finance Company India, Laurus Labs, Sai Life Sciences, Shyam Metalics and Energy, and Torrent Pharmaceuticals, hit their 52-week highs in intraday trade. (This is a developing story. Please check back for fresh updates.) Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
