Latest news with #India-U.S.
Business Recorder
13 hours ago
- Business
- Business Recorder
India's stock benchmarks end flat as Reliance, trade jitters offset Eternal gains
India's equity benchmarks ended little changed on Tuesday, as the post-earnings surge in Zomato parent Eternal was offset by a drop in Reliance Industries and uncertainty over a trade deal with the United States. The Nifty 50 fell 0.12% to 25,060.9 points, while the BSE Sensex ended 0.02% lower at 82,186.81 on the day. The prospects of an interim trade deal between India and the U.S. before Washington's August 1 deadline have dimmed, with talks deadlocked over tariff cuts on key agricultural and dairy products, Reuters reported, citing two Indian government sources. 'Until there is clarity on India-U.S. trade deal, we are likely to continue seeing stock-specific action based on earnings,' said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities. HDFC Bank, ICICI Bank lead India's stock benchmarks higher, Reliance caps gains Among 13 major sectors, financials was the only one to avoid losses, remaining close to flat, thanks to gains in top two lenders, HDFC Bank and ICICI Bank. HDFC Bank and ICICI Bank rose 0.3% and 0.4%, respectively, extending their post-earnings gains from Monday. The broader, more domestically focused mid-and small-caps fell 0.6% and 0.3%, respectively. Eternal jumped 10.3% and hit record high intraday after the online delivery firm said margins in its quick commerce segment have likely bottomed out, indicating easing competition and a potential turnaround. The stock lent the biggest boost to the benchmarks, and also lifted its rival Swiggy's shares by 5.7%. Reliance Industries was the biggest drag on the benchmarks, losing 1.1%, as weakness in its oil-to-chemicals and retail businesses continued to weigh, extending the previous session's 3.2% drop. Among other stocks, exchange operator BSE, and brokerages Nuvama Wealth Management and Angel One gained as the markets regulator said trading curbs on U.S.-based Jane Street have been lifted. Media firm Zee Entertainment Enterprises fell 5.7% after posting a 14% drop in its consolidated total income due to lower advertisement revenue.
The Hindu
14 hours ago
- Business
- The Hindu
Rupee falls 5 paise to close at 86.36 against US dollar
The rupee pared initial gains and settled for the day down 5 paise at 86.36 (provisional) against the US dollar on Tuesday (July 22, 2025) amid uncertainty over the US-India trade deal ahead of the August 1 deadline. Forex traders said, all eyes are now on the outcome of India-U.S. trade talks, especially as the August 1 deadline for potential tariffs on Indian exports draws near. The weakness in the American currency and softening of crude oil prices supported the rupee at lower levels, while foreign fund outflows and a negative trend in domestic equities weighed on the local unit and restricted the upside. At the interbank foreign exchange, the domestic unit opened at 86.26 against the greenback and touched an intra-day high of 86.22 and a low of 86.41 against the greenback. At the end of Tuesday's trading session, the local unit settled at 86.36 (provisional), down 5 paise over its previous closing price. On Monday, the rupee depreciated 15 paise to close at 86.31 against the US dollar. "We expect the rupee to trade with a slight negative bias on trade deal talks. However, weakness in the American currency and softening of crude oil prices may support the rupee at lower levels," Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said. Meanwhile, the U.S. team will visit India in August for the next round of negotiations for the proposed bilateral trade agreement between the two countries, an official said on Monday. India and the U.S. teams concluded the fifth round of talks for the agreement last week in Washington. These deliberations are important as both sides are looking at finalising an interim trade deal before August 1, which marks the end of the suspension period of Trump tariffs imposed on dozens of countries, including India (26 per cent). If the discussions fail or get delayed, Indian exporters could face fresh pressure -- adding to the rupee's challenges. However, if a deal is reached, it could offer a much-needed breather. Until then, the uncertainty is likely to keep market participants cautious. "Traders may remain cautious ahead of PMI and durable goods orders data from the US this week," Choudhary said, adding that USD-INR spot price is expected to trade in a range of 86.10 to 86.65. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.03 per cent to 97.82. Brent crude, the global oil benchmark, fell 0.94 per cent to USD 68.56 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex declined 13.53 points, or 0.02 per cent, to close at 82,186.81, while the Nifty fell 29.80 points, or 0.12 per cent, to settle at 25,060.90. Foreign institutional investors (FIIs) offloaded equities worth ₹1,681.23 crore on a net basis on Monday, according to exchange data.
The Hindu
2 days ago
- Business
- The Hindu
Rupee falls 14 paise to close at 86.30 against U.S. dollar
The rupee depreciated 14 paise to close at 86.30 (provisional) against the U.S. dollar on Monday (July 21, 2025) due to consistent dollar demand from oil importers. Forex traders said after breaching the crucial 86 level, the rupee continued its decline, which intensified the downward trend, tracking a strengthening dollar index. At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback and touched an intra-day high of 86.19 and a low of 86.36 against the greenback. At the end of Monday's (July 21, 2025) trading session, the local unit settled at 86.30, down 14 paise over its previous closing price. On Friday (July 18, 2025), the rupee settled 4 paise lower at 86.16 against the U.S. dollar. Forex traders said all eyes are now on the outcome of India-U.S. trade talks, especially as the August 1 deadline for potential tariffs on Indian exports draws closer. If the discussions fail or get delayed, it will add to the rupee's challenges, and if a deal is reached, it could offer a much-needed breather. The uncertainty around the India-U.S. trade deal is likely to keep market participants cautious, they added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22% to 98.26. Brent crude, the global oil benchmark, fell 0.48% to $68.95 per barrel in futures trade. 'The Indian rupee has experienced considerable weakness in recent days and remains the weakest among Asian currencies,' the traders said. 'The primary catalysts for this decline are consistent dollar demand from the importers and a continued exodus of foreign capital. On the technical front, the spot USD/INR has immediate resistance at 86.65 and a significant support at 85.80,' said Dilip Parmar, Research Analyst, HDFC Securities. In the domestic equity market, the 30-share BSE Sensex advanced 442.61 points, or 0.54%, to 82,200.34, while the Nifty rose 122.30 points, or 0.49%, to 25,090.70. Foreign institutional investors (FIIs) purchased equities worth ₹374.74 crore on a net basis on Friday (July 18, 2025), according to exchange data.
The Hindu
2 days ago
- Business
- The Hindu
Rupee falls 20 paise to 86.36 against U.S. dollar in early trade
The rupee depreciated 20 paise to 86.36 against the U.S. dollar in early trade on Monday (July 21, 2025), weighed down by the overall strength of the American currency in the overseas market and a negative trend in domestic equities. Forex traders said the rupee extended its slide with the breach of the key 86.00 level accelerating the decline as a recovering dollar index sapped rupee sentiment. At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback. In initial trade, it witnessed a low of 86.36, registering a fall of 20 paise over its previous close. On Friday (July 18, 2025), the rupee settled 4 paise lower at 86.16 against the U.S. dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02% to 98.46. "As the dollar recovered, the Indian rupee has been showing downside syndromes and is expected to move between 85.90 to 86.40 with a downward bias for the rupee," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Brent crude, the global oil benchmark, went up by 0.12% to $69.36 per barrel in futures trade. Forex traders said all eyes are now on the outcome of India-U.S. trade talks, especially as the August 1 deadline for potential tariffs on Indian exports draws near. If the discussions fail or get delayed, Indian exporters could face fresh pressure — adding to the rupee's challenges. However, if a deal is reached, it could offer a much-needed breather. Until then, the uncertainty is likely to keep market participants cautious, CR Forex Advisors MD — Amit Pabari said. Pabari further added that for now, the trend continues to favour a weaker rupee. "The pair may find support around 85.70-85.80, but having crossed 86.00, the door is open for a possible move toward 86.50-86.80," he added. Meanwhile, in the domestic equity market, Sensex declined 155.73 points or 0.19% to 81,602.00, while Nifty fell 63.55 points or 0.25% to 24,904.85. Foreign institutional investors (FIIs) purchased equities worth ₹374.74 crore on a net basis on Friday, according to exchange data.
The Hindu
5 days ago
- Politics
- The Hindu
India welcomes U.S. listing of The Resistance Front as global terrorist outfit
India on Friday (July 18, 2025) welcomed the U.S. designating Lashkar-e-Toiba (LeT) proxy The Resistance Front (TRF), which claimed responsibility for the Pahalgam terror attack, as a global terrorist outfit. External Affairs Minister S Jaishankar described Washington's decision on The Resistance Force (TRF) as a "strong affirmation" of India-U.S. counter-terrorism cooperation. In a social media post, he specially complimented U.S. Secretary of State Marco Rubio for designating the proxy of Pakistan-based LeT. A strong affirmation of India-US counter-terrorism cooperation. Appreciate @SecRubio and @StateDept for designating TRF—a Lashkar-e-Tayyiba (LeT) proxy—as a Foreign Terrorist Organization (FTO) and Specially Designated Global Terrorist (SDGT). It claimed responsibility for the… — Dr. S. Jaishankar (@DrSJaishankar) July 18, 2025 "Appreciate @SecRubio and @StateDept for designating TRF — a Lashkar-e-Tayyiba (LeT) proxy — as a Foreign Terrorist Organization (FTO) and Specially Designated Global Terrorist (SDGT). It claimed responsibility for the April 22 Pahalgam attack," the external affairs minister said. Earlier, the U.S. State Department said it is adding TRF as a designated Foreign Terrorist Organisation (FTO) and Specially Designated Global Terrorist (SDGT). The U.S. State Department also noted that the TRF claimed responsibility for the Pahalgam attack which killed 26 civilians. "This was the deadliest attack on civilians in India since the 2008 Mumbai attacks conducted by LeT," it said. "TRF has also claimed responsibility for several attacks against Indian security forces, including most recently in 2024," The State Department said its actions demonstrates the Trump Administration's commitment to "protecting our national security interests, countering terrorism, and enforcing President Trump's call for justice for the Pahalgam attack".
