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India Today
12 hours ago
- Business
- India Today
Sensex, Nifty rise as RBI rate cut hopes lift market; pharma stocks rally
Benchmark stock market indices opened higher on Thursday, extending gains from the last session as investors await a rate cut from the policy meeting of the Reerve Bank of India (RBI). Pharma and healthcare sector stocks gained in early S&P BSE Sensex was up 273 points to 81,271.25, while the NSE Nifty50 gained 86.55 points to 24,706.75 as of 9:29 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that both geopolitical and economic news are likely to weigh on markets in the near-term. "A serious concern is a potential Russian retaliation to the recent Ukraine attacks on Russian planes. How serious this will be and what will be its consequences are unknown factors now. The major economic news is the sharp dip in the US ISM PMI data. This indicates that the US economy is slowing down sharply," he BSE Sensex opened with some momentum as several stocks posted early gains in the first few minutes of led the charge right from the opening bell, surging 2.99%, followed by Reliance Industries which jumped 1.21%. PowerGrid Corporation of India also opened on a positive note, climbing 1.13%, while Adani Ports and Special Economic Zone rose 1.05%. Mahindra & Mahindra rounded out the top five gainers with an increase of 0.58%.advertisementBajaj Finance was the worst performer in early trade, declining 0.59%, while Nestle India retreated 0.40%. Bajaj Finserv also opened lower, falling 0.33%, and Bharti Airtel dropped 0.30%. Axis Bank completed the list of top five losers with a decline of 0.26%."The US 10-year bond yield has declined to 4.36 % and, given the slowing US economy, is likely to trend lower. This will turn out to be good for EMs like India in the medium term, but the spike in uncertainty will keep the market within the present range for the near-term. Buy on dips continues to be the ideal strategy now. Rate sensitives will be preferred in view of the expected rate cut by the MPC on June 8," said Vijayakumar.
Business Standard
2 days ago
- Business
- Business Standard
Benchmarks stumble for third day; Nifty ends below 24,550 mark
Equity benchmarks ended deep in the red today, marking their third consecutive day of losses. The mood on Dalal Street turned sour as global trade tensions escalated following the U.S. decision to hike tariffs on steel and aluminium. The move spooked investors, especially given its implications for Indian exporters. Adding fuel to the fire, weak manufacturing data from both the U.S. and China pointed to cooling global demand. The Nifty started the day on a strong note, opening at 24,786.30 and briefly climbing to 24,845.10. But the early optimism faded fast. Persistent selling dragged the index to a low of 24,502.15 before it closed below the 24,550 mark. Recovery attempts in the second half were shallow and short-lived. Sectorally, private banks, energy, and consumer durables were the biggest laggards. However, realty stocks managed to stay afloat, buoyed by hopes of a potential rate cut from the Reserve Bank of India. The S&P BSE Sensex declined 636.24 points or 0.78% to 80,737.51. The Nifty 50 index dropped 174.10 points or 0.70% to 24,542.50. In the three consecutive sessions, the Sensex and Nifty declined 1.1% and 1.17%, respectively. Adani Ports & SEZ (down 2.42%), Bajaj Finance (down 1.69%) and ICICI Bank (down 0.90%) were major drags today. In the broader market, the S&P BSE Mid-Cap index fell 0.52% and the S&P BSE Small-Cap index shed 0.07%. The market breadth was negative. On the BSE, 1,731 shares rose and 2,266 shares fell. A total of 147 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.51% to 16.56. Numbers to Track: The yield on India's 10-year benchmark federal paper declined 0.18% to 6.212 from previous close of 6.223. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.5925, compared with its close of 85.3950 during the previous trading session. MCX Gold futures for 5 August 2025 settlement shed 0.26% to Rs 97,700. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.26% to 98.94. The United States 10-year bond yield fell 1.03% to 4.415. In the commodities market, Brent crude for August 2025 settlement shed 2 cents or 0.03% to $64.61 a barrel. Global Markets: US Dow Jones futures were down 160 points, signaling a weak start for Wall Street. Most European markets advanced as inflation in the euro zone eased to 1.9% from 2.2% in May. The drop was largely driven by, a steep monthly drop in services inflation from 4% in April to 3.2% in May, building the case for a widely anticipated interest rate cut from the European Central Bank when it meets on Thursday. Most Asian stocks ended higher on Tuesday, tracking overnight gains across all three major U.S. stock indices, despite ongoing global trade tensions. South Korean markets remained closed due to polling day. China responded to U.S. allegations of violating a temporary trade agreement, stating that the United States had failed to uphold its side of the deal. The exchange highlights increasing strain in trade negotiations between the two countries. Separately, the European Union criticized U.S. President Donald Trump's proposal to raise steel tariffs to 50%, arguing that the move could disrupt ongoing EU-U.S. trade discussions. An EU spokesperson reportedly indicated that the bloc is prepared to implement countermeasures if necessary. China's Caixin/S&P Global manufacturing purchasing managers index (PMI) declined to 48.3 in May from 50.4 in April, marking its first drop below the 50-point threshold, indicating contraction, since September of the previous year. In the U.S., stock indices ended higher on Monday, lifted by strong gains in technology stocks and a rally in the energy sector as oil prices climbed. Domestic steel and aluminum stocks also advanced on optimism around potential tariff hikes. Last week, Trump announced plans to double tariffs on imported steel and aluminium, from 25% to 50%, stoking hopes of increased protection for domestic producers. The S&P 500 rose 0.41%, the Nasdaq Composite gained 0.67%, and the Dow Jones Industrial Average edged up 0.08%. US ISM Manufacturing PMI edged down to 48.5 in May from 48.7, marking the lowest reading since November. This marks the third straight month of contraction, with underlying components still signaling broad-based weakness. New Listing: Shares of Prostarm Info Systems settled at Rs 126.25 on the BSE, representing a premium of 20.24% compared with the issue price of Rs 105. The scrip was listed at Rs 125, exhibiting a premium of 19.05% to the issue price. The stock has hit a high of 130 and a low of 120. On the BSE, over 13.14 lakh shares of the company were traded in the counter. Stocks in Spotlight: Waaree Renewable Technologies rose 0.54% after the company secured a letter of award (LoA) for the engineering, procurement, and construction (EPC) of a large-scale solar power project. The new contract is valued at approximately Rs 346.33 crore. Transrail Lighting rallied 5.97% after the company announced that it has secured fresh domestic and international orders worth Rs 534 crore. United Spirits jumped 1.79% to Rs 1,577 after a leading foreign brokerage upgraded the stock to 'Overweight' from 'Neutral' and raised the target price to Rs 1,760 from Rs 1,415. Go Fashion (India) rose 3.29% to Rs 889 after a domestic brokerage initiated coverage with a 'buy' rating and a target price of Rs 1,127, citing strong brand presence and first-mover advantage as key growth catalysts. Medicamen Biotech soared 4.19% after the company has received its first Abbreviated New Drug Application (ANDA) approval from the U.S. Food and Drug Administration (USFDA) for Bortezomib for injection 3.5 mg. Sika Interplant Systems surged 13.59% after the company signed a license agreement with Collins Aerospace units to offer MRO services for Airbus A320/A321 components. The move boosts Sikas footprint in aviation servicing across India and nearby markets. Deepak Builders and Engineers India rose 2.94% after the company announced that it had emerged as the lowest bidder (L1) for the Rs 142.60 crore Unity Mall EPC project at HSIIDC Industrial Estate, Karnal, Haryana. Grasim Industries added 1.10% after the company announced that its finance committee has approved the issuance of non-convertible debentures (NCDs) aggregating up to Rs 1,000 crore. Maruti Suzuki India declined 1.33%. The companys total production rose 1.38% to 195,882 units in May 2025 as against 193,207 units recorded in May 2024. Larsen & Toubro (L&T) fell 1.03%. The company announced that its water & effluent treatment (WET) vertical has secured significant orders from the Public Health Engineering Department of Rajasthan. The value of the contract ranges from Rs 1,000 crore to Rs 2,500 crore. MIC Electronics slipped 1.22%. The company said that it has received a letter of acceptance (LoA) worth Rs 1.11 crore from the Pandit Deen Dayal Upadhyaya Division of East Central Railway.
Business Standard
2 days ago
- Business
- Business Standard
Market extends losses; European mrkt decline
The key equity indices traded with major losses in afternoon trade as concerns over global trade tensions weighed on investor sentiment, overshadowing optimism surrounding a potential rate cut by the Reserve Bank of India. Market participants are expected to closely monitor domestic economic indicators and global trade developments. The Nifty traded below the 24,550 mark. Realty and metal shares advanced while banking stocks, IT and consumer durables stocks declined. At 13:25 IST, the barometer index, the S&P BSE Sensex, declined 668.19 points or 0.83% to 80,680.82. The Nifty 50 index dropped 186.25 points or 0.75% to 24,530.35. In the broader market, the S&P BSE Mid-Cap index shed 0.37% and the S&P BSE Small-Cap index fell 0.09%. The market breadth was negative. On the BSE, 1,751 shares rose and 2,143 shares fell. A total of 158 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.07% to 16.97. Gainers & Losers: Shriram Finance (up 1.46%), Grasim Industries (up 1.02%), Bajaj Auto (up 0.75%), Mahindra & Mahindra (M&M) (up 0.38%) and Hindalco Industries (up 0.29%) were the major Nifty gainers. Grasim Industries added 1.02% after the company announced that its finance committee has approved the issuance of non-convertible debentures (NCDs) aggregating up to Rs 1,000 crore. Adani Ports & Special Economic Zone (APSEZ) (down 2.46%), Bajaj Finserv (down 2.22%), Coal India (down 1.99%), Adani Enterprises (down 1.83%) and Apollo Hospitals Enterprise (down 1.58%) were the major Nifty losers. Stocks in Spotlight: Maruti Suzuki India declined 1.42%. The companys total production rose 1.38% to 195,882 units in May 2025 as against 193,207 units recorded in May 2024. Larsen & Toubro (L&T) fell 1.51%. The company announced that its water & effluent treatment (WET) vertical has secured significant orders from the Public Health Engineering Department of Rajasthan. The value of the contract ranges from Rs 1,000 crore to Rs 2,500 crore. MIC Electronics shed 0.85%. The company said that it has received a letter of acceptance (LoA) worth Rs 1.11 crore from the Pandit Deen Dayal Upadhyaya Division of East Central Railway. Waaree Renewable Technologies rose 0.50% after the company secured a letter of award (LoA) for the engineering, procurement, and construction (EPC) of a large-scale solar power project. The new contract is valued at approximately Rs 346.33 crore. Transrail Lighting gained 4.70% after the company announced that it has secured fresh domestic and international orders worth Rs 534 crore. Global Markets: US Dow Jones futures were down 185 points, signaling a weak start for Wall Street. European market declined as investors in Europe will be keeping a close eye on the latest inflation data from the euro zone. Most Asian stocks advanced on Tuesday, tracking overnight gains across all three major U.S. stock indices, despite ongoing global trade tensions. South Korean markets remained closed due to polling day. China responded to U.S. allegations of violating a temporary trade agreement, stating that the United States had failed to uphold its side of the deal. The exchange highlights increasing strain in trade negotiations between the two countries. Separately, the European Union criticized U.S. President Donald Trump's proposal to raise steel tariffs to 50%, arguing that the move could disrupt ongoing EU-U.S. trade discussions. An EU spokesperson reportedly indicated that the bloc is prepared to implement countermeasures if necessary. China's Caixin/S&P Global manufacturing purchasing managers index (PMI) declined to 48.3 in May from 50.4 in April, marking its first drop below the 50-point threshold, indicating contraction, since September of the previous year. In the U.S., stock indices closed higher on Monday, supported by gains in technology stocks and a surge in the energy sector following a rise in oil prices. Domestic steel and aluminum stocks also climbed on expectations of benefits from potential tariff increases. The S&P 500 rose 0.41%, the Nasdaq Composite gained 0.67%, and the Dow Jones Industrial Average edged up 0.08%.
India Today
3 days ago
- Business
- India Today
Sensex closes 77 points lower, Nifty below 24,700; Adani Ports gains 2%
Benchmark stock market indices rebounded after falling sharply in early trade to close marginally lower on S&P BSE Sensex was down by 77.26 points to close at 81,373.75, while the NSE Nifty50 lost 34.10 points to end at 24, Nair, Head of Research, Geojit Investments Limited, said that the domestic market continued its consolidation phase for the third consecutive week, influenced by renewed concerns over a potential tariff war and escalating geopolitical tensions between Russia and "While global uncertainties have led investors to adopt a risk-averse approach, the Indian market has demonstrated resilience, underpinned by robust institutional inflows and selective sectoral strength like FMCG, real estate, and financial stocks," he Ports and Special Economic Zone led the pack with a gain of 2.51%, followed by Mahindra & Mahindra which climbed 1.58%. PowerGrid Corporation of India also showed positive momentum, gaining 1.07%, while Eternal posted gains of 1.07%. Hindustan Unilever rounded out the top five gainers with an increase of 0.96%.Tech Mahindra was the worst performer, declining 1.47%, while Tata Steel also struggled with a drop of 1.21%. Tata Motors faced headwinds, falling 1.12%, and Titan Company Limited retreated 0.80%. HDFC Bank completed the list of top five losers, shedding 0.60% by the closing domestic macro indicators include a potential RBI rate cut, a better monsoon, Q4 GDP data and better GST collection. Under the current market landscape, investors are adopting a cautious short-term strategy, with a focus on domestically oriented and interest-sensitive sectors," said Nair. Nifty Midcap100 saw modest gains of 0.62%, while Nifty Smallcap outperformed with a rise of 1.19%. The India VIX, which measures market volatility, surged by 6.71%. Among the sectoral gainers, Nifty PSU Bank led the charge with an impressive rally of 2.15%, followed by Nifty Realty which climbed 2.31%. Other sectors that ended in positive territory included Nifty FMCG up 0.81%, Nifty Metal gaining 0.70%, Nifty Private Bank rising 0.34%, Nifty Media advancing 0.32%, Nifty Healthcare posting gains of 0.12%, and Nifty Auto edging higher by 0.01%.However, several sectors faced selling pressure during the session. Nifty IT was the worst performer, declining 0.70%, while Nifty Consumer Durables fell 0.48%. Nifty Pharma retreated 0.22%, Nifty Oil & Gas dropped 0.21%, and Nifty Financial Services closed marginally lower by 0.11%.(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.)
India Today
4 days ago
- Business
- India Today
Sensex, Nifty open lower as IT, metal stocks drag market despite good GDP data
Benchmark stock market indices opened lower on Monday, dragged by a decline in Reliance Industries (RIL) stock, along with IT and metal sector S&P BSE Sensex declined 723 points to 80,728.03, while the NSE Nifty50 lost 191 points to 24,559.95 as of 9:25 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that the market structure favours continuation of the ongoing consolidation "There are global headwinds like renewed tariff concerns that will restrain a breakout rally. At the same time there are domestic tailwinds that will support the market at lower levels. President Trump's 50% tariffs on steel and aluminium is a clear message that the tariff and trade scenario will continue to be uncertain and turbulent. This headwind will impact markets," he Unilever emerged as the top performer in early trading, gaining 1.43%, followed by Adani Ports and Special Economic Zone which advanced by 0.84%. Mahindra & Mahindra showed resilience with a 0.56% uptick, while IndusInd Bank and Nestle India posted gains of 0.51% and 0.43% Bank faced the steepest decline, dropping 1.71% in opening trades. HCL Technologies was under significant pressure, falling 1.65%, while Infosys retreated by 1.45%. Reliance Industries slipped 1.43%, and Bajaj Finance rounded out the top five losers with a decline of 1.41%.advertisementNifty Midcap100 posted a marginal gain of 0.01% while Nifty Smallcap100 declined by 0.09%. The India VIX surged by 5.86%, indicating increased volatility in early indices displayed a mixed performance with both gains and losses across various segments. On the positive side, Nifty PSU Bank emerged as the top gainer with a rise of 1.45%, followed by Nifty FMCG advancing 0.50%, Nifty Realty climbing 0.25%, and Nifty Financial Services posting a modest gain of 0.83%.However, several sectors opened in negative territory with Nifty IT facing the steepest decline of 1.40%, followed by Nifty Metal dropping 1.21% and Nifty Private Bank falling 0.66%. Other notable losers included Nifty Consumer Durables down 0.83%, Nifty Pharma retreating 0.61%, Nifty Oil & Gas declining 0.61%, Nifty Media slipping 0.55%, Nifty Auto falling 0.46%, and Nifty Healthcare Index dropping marginally by 0.15%.(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.)Must Watch
