Latest news with #MSCIAsiaex-Japan
Reuters
11-03-2025
- Business
- Reuters
Indian stocks set to open lower, tracking global market sell-off
March 11 (Reuters) - Indian equities are set to open lower on Tuesday, tracking a broad sell-off across Asian markets after Wall Street tumbled overnight on fears that the U.S. economy could be careening into recession. The decline followed U.S. President Donald Trump's refusal on Sunday to predict whether the U.S. could face a recession amid worries over his tariff policies, heightening investor concerns about global economic stability. The GIFT Nifty futures were trading at 22,430.5 as of 07:53 a.m. IST, indicating that the blue-chip Nifty 50 (.NSEI), opens new tab will likely open below Monday's close of 22,460.3. Asian markets slid on the day, with Japan's Nikkei 225 (.N225), opens new tab sliding 2.7% and MSCI Asia ex-Japan (.MIAPJ0000PUS), opens new tab falling 1.6%. U.S. stocks fell sharply overnight as relentless tariff wrangling and mounting anxieties from a possible federal government shutdown stoked recession fears. The Nasdaq Composite index (.IXIC), opens new tab fell 4%, while Tesla (TSLA.O), opens new tab plunged 15.4% in the wake of its CEO Elon Musk's Department of Government Efficiency firings and protests arising from his support of far-right political parties in Europe. Uncertainty over U.S. tariffs has caused inflationary worries in the world's largest economy and concerns over its impact on global growth, dragging most equity markets lower year-to-date. Nifty 50 is trading about 14.5% below the all-time high hit in September 2024, hurt by slowing earnings growth, U.S. tariff uncertainty and relentless foreign selling. Foreign portfolio investors (FPI) sold Indian shares worth 4.85 billion rupees ($55.5 million) on Monday, taking the total outflows to about $28 billion since September-end when markets traded at their peaks. STOCKS TO WATCH ** IndusInd Bank ( opens new tab says its net worth will be hit by 2.5% due to discrepancies in its derivative accounts found during an internal review. The stock fell 4% on Monday and hit a 2.5-year intraday low after the Reserve Bank of India's shorter-than-expected extension to the CEO's tenure ** NTPC ( opens new tab and NTPC Green Energy ( opens new tab sign, opens new tab multiple agreements worth 960 billion rupees with Chattisgarh state government for nuclear, pump hydro and renewable projects ** Syngene International ( opens new tab acquires its first biologics facility in the U.S. from Emergent Manufacturing Operations Baltimore, a unit of Emergent BioSolutions (EBS.N), opens new tab, for $36.5 million ($1 = 87.3760 Indian rupees)
Reuters
04-03-2025
- Business
- Reuters
Indian benchmarks likely to be muted as world stocks jitter ahead of Trump tariffs
March 4 (Reuters) - India's benchmark indexes are set for a muted open on Tuesday, while other Asian markets slumped after U.S. President Donald Trump said his proposed tariffs would go into effect as planned. The GIFT Nifty futures were trading at 22,093.5 as of 07:57 a.m. IST, indicating that the blue-chip Nifty 50 (.NSEI), opens new tab will open near Monday's close of 22,119.30. Trump's proposed 25% tariffs on Canada, Mexico will go into effect from 10:31 a.m. IST on Tuesday. An additional 10% duty on China, resulting in a cumulative 20% tariff, will also enter into force along with these levies. Trump also said reciprocal tariffs will start on April 2, escalating trade tensions and dragging financial markets. Higher tariffs, besides their potential adverse impact on global growth, could spur inflation in the U.S., leading to higher interest rates for longer and hurting foreign flows into emerging markets such as India. "We expect the market to remain flat to negative on account of concerns over continued foreign selling, imposition of tariffs by the U.S. on Canada, Mexico and lack of domestic triggers," said Siddhartha Khemka, head of research of wealth management at Motilal Oswal Financial Services. The MSCI Asia ex-Japan (.MIAPJ0000PUS), opens new tab dropped about 1%, tracking an overnight decline in Wall Street equities. The Nifty and BSE Sensex (.BSESN), opens new tab are down about 16% from record highs hit in September amid growth concerns, slowing corporate earnings, relentless foreign selling and trade uncertainty. Foreign portfolio investors (FPIs) have sold over $26 billion worth of shares in India since October, including 47.88 billion rupees ($548.29 million) on Monday. The broader small and midcaps confirmed bear market in February, a more than 20% fall from their record high levels. STOCKS TO WATCH ** Maharashtra GST officials initiate, opens new tab search at three offices of RBL Bank ( opens new tab in the state on March 3, the lender said. It did not disclose details of the alleged violation or its impact on its financials. ** Oil downstream companies such as Bharat Petroleum Corp ( opens new tab, Hindustan Petroleum Corp ( opens new tab and Indian Oil Corp ( opens new tab are in focus as oil prices slip to 12-week low on demand worries and likely OPEC output hike. ** Indian Energy Exchange's ( opens new tab trade volumes in February rise 9%.
Reuters
19-02-2025
- Business
- Reuters
Indian benchmarks seen opening little changed
Feb 19 (Reuters) - India's benchmark indexes are set to open flat on Wednesday, as investors fret over lofty valuations of local stocks and global trade uncertainties. The GIFT Nifty futures were trading at 22,962.50 as of 08:16 a.m. IST, indicating that blue-chip Nifty 50 (.NSEI), opens new tab will open near Tuesday's closing level of 22,945.30. Asian equities were mixed in early trading, with the MSCI Asia ex-Japan (.MIAPJ0000PUS), opens new tab inching 0.3% lower after U.S. President Donald Trump said he would impose tariffs on auto, pharmaceuticals and semiconductor imports. Wall Street equities rose overnight, with the S&P 500 (.SPX), opens new tab logging a record closing high. Investors await the Federal Reserve's January policy meeting minutes, due after market hours, amid comments from key officials signalling that the central bank is no hurry to cut rates. India's benchmark indexes have slipped as much as 13% from record high levels hit in September, with the broader market facing an even more aggressive sell-off. Foreign portfolio investors (FPIs) have sold shares worth $12.3 billion so far in 2025, inching close to the $16.5 billion sell-off seen in all of 2022, which was the highest foreign outflow from India in at least a decade. Weak domestic earnings and lofty valuations spurred the foreign exodus from domestic markets in October, with strengthening dollar and U.S. bond yields further adding to the selling pressure over the last few months. STOCKS TO WATCH ** Tata Steel ( opens new tab says Neath Port Talbot Council approved plans for electric arc furnace in Port Talbot. ** Bharti Airtel ( opens new tab promoter Indian Continent Investment sells 0.84% stake in company on Tuesday for 84.85 billion rupees. ** Hexaware Technologies ( opens new tab will list on bourses on Wednesday. Grey market data indicates that stock may list closer to its issue price of 708 rupees.
