Latest news with #IndianMarkets
Reuters
20 hours ago
- Business
- Reuters
Indian benchmarks set to open higher on optimism over US trade talks with China, India
June 11 (Reuters) - India's benchmark indexes are poised to open marginally higher on Wednesday, mirroring gains in other Asian markets on signs of progress in trade talks between the U.S. and its key trading partners such as India and China. The Gift Nifty futures were trading at 25,183.50 as of 8:18 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open above Tuesday's close of 25,104.25. Other Asian markets rose at the open, with the MSCI Asia ex-Japan index (.MIAPJ0000PUS), opens new tab gaining 0.4%, following an agreement between the U.S. and Chinese negotiators on a trade deal framework in London, pending approval by their leaders. Meanwhile, Indian and U.S. officials made progress in bilateral trade talks in New Delhi, discussing key areas such as industrial goods, agriculture, tariff reductions and non-tariff barriers, according to Indian government sources. The Indian benchmarks closed flat on Tuesday, snapping a four-session gaining streak, as profit booking in financials offset gains driven by optimism around the U.S.-China trade talks. "Consolidation seems like the current mood in Indian markets, but progress in global trade talks, improving liquidity and FPI interest can keep the bulls hopeful," said Vikram Kasat, head of advisory of PL Capital. Foreign portfolio investors remained net buyers of Indian shares for the third straight session on Tuesday, purchasing stocks worth 23.02 billion rupees ($269 million). Domestic institutional investors were net buyers for the 16th straight session on Tuesday. ** Wipro ( opens new tab announces partnership with international food wholesaler Metro AG for two years ** HCLTech ( opens new tab expands partnership with The Standard to accelerate AI-led transformation and deliver digital-first services ** Texmaco Rail and Engineering ( opens new tab wins orders worth 440.4 million rupees ($1 = 85.5670 Indian rupees)
Reuters
6 days ago
- Business
- Reuters
Indian shares set to open higher ahead of RBI policy decision
June 6 (Reuters) - Indian shares are set to open higher on Friday, ahead of the Reserve Bank of India's (RBI) policy announcement, where a rate cut is widely anticipated. The Gift Nifty futures were trading at 24,842 as of 7:21 a.m. IST, indicating that the benchmark Nifty 50 (.NSEI), opens new tab will open above Thursday's close of 24,750.90. The RBI is expected to cut its key lending rates by 25 basis points (bps) for the third consecutive meeting in its policy decision at 10:00 a.m. IST. While a 25 bps rate cut is likely, markets are looking for a stronger growth focus from the RBI to boost consumption and support domestic businesses, said Divam Sharma, co-founder and fund manager at Green Portfolio PMS. While the GDP growth for the fourth quarter came in at 7.4%, broadly in line with expectation, the gross value added print, which came in at 6.8%, better reflects the state of the economy, according to HSBC. The Nifty and BSE Sensex (.BSESN), opens new tab rose about 0.5% each on Thursday, with rate-sensitive sectors such as realty and financials leading the gains. The benchmarks are roughly 6% shy of the record highs hit in late September 2024. Other Asian markets opened little changed, while Wall Street equities closed lower overnight as a high-profile dispute between U.S. President Donald Trump and billionaire Elon Musk weighed.
Bloomberg
28-05-2025
- Business
- Bloomberg
UBS' Chhaochharia on India Markets, Investment Strategy
Gautam Chhaochharia, Head of Global Markets India at UBS, discusses his outlook for Indian markets and investment strategy. He speaks with David Ingles at the "UBS Asian Investment Conference" in Hong Kong. (Source: Bloomberg)
Zawya
09-05-2025
- Business
- Zawya
Indian markets dip as conflict with Pakistan escalates; Romania's leu set for worst week in 16 years
Indian markets took a hit on Friday, following reports of overnight drone and munitions assaults by Pakistani forces, while Romania's leu faced its steepest weekly decline in over 16 years. India's benchmark indexes, dropped over 1.2% each, and were poised to register their first weekly loss in four. The tension escalated as Pakistan's armed forces executed multiple attacks using drones and munitions along India's western border, according to the Indian army, further intensifying the conflict between the two nuclear-armed neighbours. The Indian rupee, which fell by 1% in the previous session, was showing a slight recovery, trading marginally higher at present. Traders speculate that the Reserve Bank of India might have intervened through state-run banks to stabilize the currency. Concurrently, Indian government bond yields saw an uptick. "There are no material signals to indicate de-escalation of tensions between India and Pakistan. There is both a sense of nervousness if it does not de-escalate quickly and there's a sense of comfort as its not boiling over," said Dhiraj Nim, an FX strategist and economist at ANZ. "This near term risk aversion would prevail.. until we see some kind of a resolution come through via diplomatic channels." Across the border, Pakistan's stock index managed a 0.2% rise after a near 7% fall on Thursday, alongside a 0.2% increase in its rupee. The MSCI Emerging Market Index ticked up 0.4%, while a parallel currency measure remained flat. Emerging markets navigated a dynamic week, marked by vigilant central bank meetings concerned about U.S. tariffs, while assessing the impacts of military conflicts and digesting mixed signals from the U.S.-China trade discussions. Chinese markets were mixed, with the blue chip down 0.2%, while Hong Kong's Hang Seng was up 0.4%. Anticipation was high for the upcoming Geneva meeting between the two parties, though concerns lingered that the limited trade agreement with London might not serve as a robust template for further deals, tempering optimism about Sino-U.S. trade negotiations. China's exports surpassed forecasts in April, buoyed by a surge in demand from manufacturers hastening production to capitalize on U.S. President Donald Trump's 90-day tariff pause. Elsewhere, Romania's leu was on track for its most significant weekly loss since January 2009, following the lead taken by hard-right presidential candidate George Simion in Sunday's first-round vote. Bucharest's benchmark index was set for its toughest week in nearly three years. JPMorgan analysts have forecast a 50-50 probability that political turmoil in Romania could trigger a 15-20% devaluation of the leu, with the alternative being a more modest 5% depreciation. S&P Global Ratings anticipates that Romanian policymaking will become increasingly fragmented, less stable, and less effective in the coming months, potentially leading to weaker growth, fiscal, and external outcomes. Its 'BBB-' sovereign ratings on Romania carry a negative outlook. "If the direction of politics takes a turn for the worse, in a market like Romania, and we had money there... we would pretty quickly react and run for the exits," said Rob Brewis, portfolio manager at Aubrey Capital Management. Hungary's forint slipped 0.2%, while Budapest's stock index rose 1.2%, nearing record highs. The government aims to maintain inflation within a 3% to 4% range, following data showing annual price growth slowed to 4.2% in April, yet still exceeding market expectations. (Reporting by Pranav Kashyap in Bangalore; Editing by Shailesh Kuber)
Reuters
08-05-2025
- Business
- Reuters
India's Paytm, founder settle with markets regulator in ESOPs case
May 8 (Reuters) - Indian payments firm Paytm ( opens new tab and its founder Vijay Shekhar Sharma have settled an employee stock options violations case with the country's markets regulator, the Securities and Exchange Board of India said on Thursday. As part of the settlement, Sharma has been prohibited from accepting fresh ESOPs from any listed company for three years, SEBI said.
