Latest news with #Nair.
India Today
2 days ago
- Business
- India Today
Sensex closes 123 points higher, Nifty above 25,100; HCLTech gains 3%
Benchmark stock market indices closed higher on Wednesday, returning to positive momentum, fuelled by a rally in IT and energy sector S&P BSE Sensex added 123.42 points to end at 82,515.14, while the NSE Nifty gained 37.15 points to close at 25, Nair, Head of Research, Geojit Investments Limited, said that profit booking continues in the broader markets, driven by elevated domestic valuations. However, large-cap resilience is supporting the indices, with institutional investors favouring companies with stable earnings "The Auto and IT sectors remain in focus. Auto stocks are gaining on improved monthly sales, while IT are benefiting from optimism around a potential US-China trade resolution," he top gainers on the Sensex were led by HCL Technologies, which surged 3.22%, followed by Infosys with a gain of 2.16%. Tech Mahindra climbed 1.74%, while Reliance Industries rose 0.71% and Bajaj Finserv added 0.70% to close the losing side, Power Grid Corporation was the worst performer, declining 1.89%, followed by Adani Ports which fell 1.24%. IndusInd Bank dropped 1.21%, Nestle India lost 0.93%, and HDFC Bank declined 0.83% during the trading broader market indices declined today. Nifty Midcap 100 fell 0.49%, while Nifty Smallcap dropped 0.53%. India VIX, the volatility index, declined by 2.47%.Among the sectoral indices, several posted gains during the session. Nifty Oil & Gas led the gainers with a rise of 1.47%, followed by Nifty IT at 1.26%, Nifty Pharma at 0.50%, Nifty Healthcare at 0.25%, Nifty Auto at 0.19%, and Nifty Realty at 0.09%.advertisementSeveral indices closed in negative territory. Nifty FMCG declined by 0.67%, Nifty Financial Services fell 0.28%, Nifty Private Bank dropped 0.26%, Nifty Metal lost 0.15%, Nifty Media declined 0.07%, and Nifty Consumer Durables closed marginally lower by 0.04%."Following the recent rally, the market lacks clear direction as investors await key macroeconomic data and updates on trade negotiations. US inflation data, due later today, is expected to show a slight uptick, driven by recent tariff increases," said Nair.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
Time of India
08-05-2025
- Automotive
- Time of India
Market Wrap: Fag-end selling sends Sensex 412 points lower, Nifty below 24,300 as India-Pakistan tensions escalate
Sector Watch Live Events Expert View (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Late selling saw Indian benchmark indices ending lower on Thursday as the standoff between India and Pakistan escalated, with Indian forces neutralising the neighbour's military benchmark BSE Sensex declined 411.97 points or 0.51% to close at 80,334.81, while the broader Nifty 50 index closed at 24,273.80, lower by 140.60 points or 0.58%.The Indian defence ministry said that it had "neutralised" Pakistan's attempts to "engage" multiple military targets in the northern and western regions on Wednesday night and Thursday led the decline on the benchmarks, with the sector falling over 1% as heavyweight HDFC Bank slipped nearly 1%.Losses deepened after the Ministry of Defence announced that Indian armed forces had targeted air defence radars and systems at several locations in Pakistan on to the statement, "Today morning Indian Armed Forces targeted Air Defence Radars and systems at a number of locations in Pakistan. Indian response has been in the same domain with same intensity as Pakistan. It has been reliably learnt that an Air Defence system at Lahore has been neutralised."Pakistan's military claimed it had shot down 25 Indian markets also came under pressure, with the Nifty Midcap 100 and Nifty Smallcap 100 falling 2.5% and 1.9%, respectively. Tata Motors extended its rally for a second straight session, gaining as much as 3.5% intraday on optimism around the proposed India-UK trade deal, the company's demerger plan, and other bullish triggers. The stock has surged 9% over two sessions and has rebounded nearly 30% from its April low of Rs strength in Tata Motors helped cushion some of the losses in the auto the Nifty Volatility Index has risen in 10 of the last 11 sessions following last month's militant attacks on Hindu tourists in Kashmir. The index climbed to 21.84 in intraday trade, its highest level since April Indian equity market experienced profit booking by the end of the trading day due to escalating tensions between India and Pakistan, marked by increased cross-border exchanges, said Vinod Nair, Head of Research, Geojit Investments, adding that the FOMC policy meeting provided little reassurance, as the FED expressed concerns that aggressive U.S. tariffs could fuel inflation and raise unemployment."However, the global market remains stable and positive, buoyed by expectations of an imminent U.S. trade deal with the UK and preliminary indications of trade talks with China. Historically, the domestic volatility is expected to neutralize as cross border issue de-escalates," said Nair.'There is a lot of caution in the markets as investors are worried that the ongoing tension resulting in a major conflict between the two nuclear-powered nations going ahead could spark a major sell-off in equities, and hence profit-taking was seen in almost all the sectors barring select IT counters," said Prashanth Tapse, Senior VP (Research) at Mehta said that with the local currency depreciating sharply amid the ongoing stand-off, foreign investors could flee domestic equities to park their funds in overseas safe-haven assets.
BBC News
18-03-2025
- Business
- BBC News
US steel customers 'spooked' by 'tariff warfare', Tata Steel says
US tariffs on imported steel and aluminium have "spooked" customers of British steel, according to Tata Steel executive Rajesh Nair told MPs some American customers were seeking other suppliers to avoid "tariff warfare".Tata Steel operates the UK's largest steelworks in Port Talbot and exports around $100m (£77m) of steel annually to the company told the business and trade committee there was also a "significant impact" from cheaper steel from around the world being diverted to the UK because of the US tariffs. On 12 March the USA imposed 25% tariffs, or import taxes, on steel and aluminium products arriving in the Steel's exports from the UK to America are packaging steels and tubular products for oil and gas industries, according to Mr Nair."The customers are spooked, the customers are wanting to go to other suppliers to make sure they don't get caught in the tariff warfare," he Nair was giving evidence to the committee's inquiry into the UK government's forthcoming industrial said existing customers had contacted the company to cancel orders, and in other cases were asking for "compensation" from Tata Steel towards the cost of the tariffs, which must be paid by the importer in the USA. In response to the US tariffs the European Union imposed a raft of retaliatory measures on American goods being exported to the EU. But the UK has resisted retaliating directly, with the Westminster government continuing to push for a wide-ranging trade deal with the Trump if the UK should retaliate with its own tariffs, Rajesh Nair called instead for greater protection for UK steelmakers from foreign imports."We have got to act in a manner and a way in which we protect and safeguard the industry in a way in which the incumbent players can continue to do business, and the customer gets a fair deal at the end of it all."It has to be some short-term measures to protect what we have in the country, rather than some retaliatory measures," he said. Steelmakers' union Community, which also appeared before the committee on Tuesday, said it was concerned about the impact of tariffs and diverted steel on the UK workforce."We are worried about what this means for jobs and for the sustainability of the industry," said Alasdair McDiarmid, assistant general secretary of said tariffs were "a terrible idea, it is a terrible idea for the US just as much as it is for us".Asked if workers were angered by the change in trade policy, Mr McDiarmid said: "Yes they are angry, of course they are angry."They are worried about their livelihoods, and the future of their plant and their communities as well. It is not a situation they would choose to be in."He said the "biggest concern" for the union was the diversion of steel from the US market to the UK, and said Britain must move "extremely quickly and decisively" to strengthen trade UK government's business and trade secretary Jonthan Reynolds has previously said that he wanted to pursue "pragmatic and positive engagement" with President Trump's administration "to agree a wider economic deal in both our interests".
