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Business Standard
3 days ago
- Business
- Business Standard
Indices edge lower ahead of RBI policy meeting; Breadth strong
The key equity indices traded with minor losses in early trade, despite positive global cues. Investors awaited the outcome of the RBI policy meeting. Market participants are also closely monitoring bond markets and global trade developments. The Nifty traded below the 24,750 mark. Media, IT and auto shares declined while realty, metal and PSU Bank stocks advanced. At 09:25 IST, the barometer index, the S&P BSE Sensex declined 43.51 points or 0.05% to 81,398.53. The Nifty 50 index fell 19.20 points or 0.08% to 24,733.90. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.03% and the S&P BSE Small-Cap index added 0.20%. The market breadth was strong. On the BSE, 1,728 shares rose and 1,098 shares fell. A total of 145 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth 208.47 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,382.40 crore in the Indian equity market on 5 June 2025, provisional data showed. The Reserve Bank of Indias (RBI) Monetary Policy Committee (MPC) will announce its decision on the key interest rate today (June 6), following the conclusion of its three-day meeting that began on June 4. RBI Governor Sanjay Malhotra is expected to deliver the announcement at 10 a.m. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.03% to 6.193 from previous close of 6.191. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.8100 compared with its close of 85.7950 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.49% to Rs 98,353. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 98.76. The United States 10-year bond yield fell 0.18% to 4.385. In the commodities market, Brent crude for August 2025 settlement shed 23 cents or 0.35% to $65.11 a barrel. Stocks in Spotlight: JSW Energy rose 0.92%. The company has commissioned 281 MW of organic renewable energy capacity with solar capacity of 215 MW and wind capacity of 66 MW, taking the current installed capacity to 12,499 MW. Praj Industries advanced 1.68% after the company has signed an agreement with Paraguay-based Enersur to assess, develop, and implement a fully integrated biorefinery project in Paraguay in a phased manner. The biorefinery aims to produce ethanol along with co-products such as distillers dried grains with solubles (DDGS), corn oil, biogas, biobitumen, and sustainable aviation fuel (SAF). CEAT added 0.51%. The companys board is scheduled to meet on 10 June 2025, to consider raising funds up to Rs 500 crore through issuance of non- convertible debentures (NCDs) on a private placement basis. Global Markets: US Dow Jones futures were up 116 points, signaling a positive start for Wall Street. Asian stocks traded higher after a 90-minute phone call between US President Donald Trump and Chinese President Xi Jinping sparked hopes of renewed trade talks. The discussion, centered on rare earth exports, ended with both leaders agreeing to resume negotiations. A US delegation including Scott Bessent, Howard Lutnick, and Jamieson Greer will soon head to China to pick up the dialogue. Trump called the conversation "very good," and both sides even exchanged invitations for state visits. Back on Wall Street, however, the mood was less upbeat. All three major US indices closed lower overnight. The S&P 500 dropped 0.53%, dragged down by a sharp fall in Tesla shares. The Nasdaq slid 0.83%, and the Dow shed 0.25%. Tesla plunged over 8% after tensions between Trump and Elon Musk took center stage. Trump said he was "very disappointed" with Musk, following the Tesla CEOs public criticism of Trumps much-touted policy bill. Musk didnt hold back either, snapping back with, "Without me, Trump wouldve lost." Meanwhile, fresh US labor data showed initial jobless claims climbed to 247,000 last week, up from a revised 239,000. Private sector job growth also slowed, with just 37,000 jobs added in May compared to 60,000 in April. These figures set the stage for Fridays crucial nonfarm payrolls report, one that could shape the Feds next move.
Business Standard
4 days ago
- Business
- Business Standard
Indices trade higher; European mrkt advance
The domestic equity barometers traded with substantial gains in afternoon trade, supported by buying interest amid positive global sentiment, expectations of a rate cut in the upcoming RBI policy meeting later this week, and continued foreign fund inflows. While investors await the policy outcome, they are also closely monitoring bond markets, Brent crude trends, and global trade developments. The Nifty traded above the 24,750 mark. Realty, pharma and FMCG shares advanced while PSU Bank, auto and private bank stocks declined. At 13:25 IST, the barometer index, the S&P BSE Sensex, advanced 475.63 points or 0.59% to 81,473.37. The Nifty 50 index jumped 148 points or 0.60% to 24,768.20. In the broader market, the S&P BSE Mid-Cap index rose 0.53% and the S&P BSE Small-Cap index added 0.73%. The market breadth was strong. On the BSE, 2,369 shares rose and 1,473 shares fell. A total of 185 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.87% to 15.29. Gainers & Losers: Eternal (up 4.98%), Trent (up 3.52%), Dr Reddys Laboratories (up 3.40%), Power Gird Corporation of India (up 2.03%) and Shriram Finance (up 1.79%) were the major Nifty gainers. Dr. Reddy's Laboratories rallied 3.40% after the company announced a collaboration with Iceland-based Alvotech to co-develop and commercialize a biosimilar to Keytruda (pembrolizumab) for global markets. IndusInd Bank (down 1.11%), Bajaj Finserv (down 0.79%), Maruti Suzuki India (down 0.67%), Bajaj Finance (down 0.63%) and Axis Bank (down 0.44%) were the major Nifty losers. Stocks in Spotlight: Angel One added 3.54% after the firm announced that its client base jumped 34.1% to 31.95 million in May 2025, compared with 23.83 million in May 2024. Power Grid Corporation of India added 1.99% after the company said that it has acquired MEL Power Transmission (MPTL), a special-purpose vehicle, for an aggregate value of Rs 8.53 crore. Force Motors rallied 3.35% after the companys domestic sales jumped 24.46% to 3,002 units in May 2025, as against 2,412 units sold in May 2024. Newgen Software Technologies rose 0.70% after it has received an order worth $2.5 million (approximately Rs 20.8 crore) from an international customer for the procurement of an enterprise workflow and content management system. Garden Reach Shipbuilders & Engineers added 4.23% after the company announced the signing of memorandum of intent (MoI) and memorandum of understandings (MoUs) with various entities in Norway. CESC declined 1.15%. The company said that its subsidiary, Purvah Green Power, has signed a framework agreement with Envision Energy India for the supply and commissioning of 1 GW wind turbine generators (WTGs). Global Markets: Most European markets advanced as investors awaited a rate cut from the European Central Bank (ECB). The central bank widely expected to trim interest rates by 25 basis points, taking its key rate, the deposit facility rate, to 2% German factory orders rose 0.6% in April from the previous month, preliminary data showed on Thursday. The Federal Statistical Office said the rise in April was largely due to a significant increase in the manufacturing of data processing equipment, electrical goods and optical products. Most Asian indices rose on Thursday, with the South Korean market extending gains from the previous session. Investor attention remained on a potential call between former U.S. President Donald Trump and Chinese President Xi Jinping, which the White House indicated could take place this week. Optimism surrounding the potential dialogue contributed to gains on Wall Street earlier in the week. The Caixin China services purchasing managers index came in at 51.1 in May, rising from 50.7 in April and remaining above the 50-mark, which separates an expansion from a contraction. Chinas services activity in May climbed from the month before, buoyed by rising tourism activity. However, new export orders slowed at a slightly lower pace, weighed by uncertainty from the U.S. tariffs. On Wednesday, U.S. markets closed mixed. The Dow Jones Industrial Average declined by 0.22%, while the S&P 500 inched up 0.01% and the Nasdaq Composite gained 0.32%, supported by strength in technology stocks. Meanwhile, private sector hiring in the U.S. fell to its lowest level in over two years. Data from payroll processor ADP showed that payrolls increased by only 37,000 in May, compared to a revised 60,000 in April. The report has heightened concerns about the impact of trade-related uncertainty on the U.S. economy. The data precedes the release of the official nonfarm payrolls report for May, scheduled for Friday, which investors now expect to show further weakness.
Business Standard
7 days ago
- Business
- Business Standard
Indices open lower in early trade; breadth positive
The domestic equity indices traded with major losses in early trade amid negative global sentiments. The Nifty traded below the 24,600 level. PSU Bank, FMCG and realty shares advanced while IT, metal and consumer durables shares declined. At 09:25 IST, the barometer index, the S&P BSE Sensex, declined 728.54 points or 0.89% to 80,722.47. The Nifty 50 index fell 180.30 points or 0.71% to 24,578.15. In the broader market, the S&P BSE Mid-Cap index shed 0.09% and the S&P BSE Small-Cap index decined 0.37%. The market breadth was positive. On the BSE, 1,328 shares rose and 1,765 shares fell. A total of 197 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth 6,449.74 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 9,095.91 crore in the Indian equity market on 30 May 2025, provisional data showed. Economy: India's GDP growth touched a four-quarter high of 7.4% in Q4 FY25, with full-year growth ending at 6.5%, according to data released by the government post market hours Friday. The GDP growth, higher than the previous quarter of 6.4%, was lower than the 8.4% growth logged in Q4 FY24. Meanwhile, Indias fiscal deficit for FY25 stood at 4.8% of GDP, meeting the revised estimate, according to data released by the Comptroller General of Accounts on Friday. The central governments fiscal deficit stood at Rs 15.77 lakh crore, or 100.5% of the revised annual target, compared with 95.4% a year before. Numbers to Track: The yield on India's 10-year benchmark federal paper added 0.16% to 6.192 from previous close of 6.182. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4275, compared with its close of 85.5550 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.31% to Rs 96,170. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 99.29. The United States 10-year bond yield fell 0.07% to 4.412. In the commodities market, Brent crude for August 2025 settlement rose $1.39 or 2.21% to $64.17 a barrel. Stocks in Spotlight: Apollo Hospitals Enterprise advanced 1.94% after the company reported 53.5% jump in consolidated net profit to Rs 389.60 crore on 13.1% increase in revenue from operations to Rs 5,592.20 crore in Q4 FY25 over Q4 FY24. FSN E-Commerce Ventures (Nykaa) rose 0.25%. The companys consolidated net profit surged 192.6% to Rs 20.28 crore on 23.6% jump in revenue from operations to Rs 2,061.76 crore in Q4 FY25 over Q FY24. Rama Steel Tubes declined 3.34% after the company has reported 3.9% fall in consolidated net profit to Rs 6.84 crore despite a 9.3% increase in revenue from operations to Rs 293.13 crore in Q4 FY25 as compared with Q4 FY24. Global Markets: US Dow Jones futures were down 140 points, signaling a weak start for Wall Street. Most Asian shares traded lower Monday after U.S. President Donald Trump announced a fresh tariff hike on steel imports, sending jitters across global markets. Speaking to U.S. steelworkers late Friday, Trump said he would double tariffs on steel from 25% to 50%, effective Wednesday, June 4. Markets in China, Malaysia, and New Zealand were closed for holidays, muting some of the early regional reactions. Trump also took to Truth Social to confirm the June 4 rollout, claiming the hike was in response to Chinas alleged breach of a recent trade agreement. He didnt elaborate on how the deal was violated but added that he plans to speak with Chinese President Xi Jinping soon. Wall Street ended last week on a mixed note. The S&P 500 was nearly flat, inching down 0.01% to close a strong month. The Nasdaq Composite slipped 0.32%, while the Dow Jones eked out a 0.13% gain. Commerce Secretary Howard Lutnick backed the tariff decision over the weekend, saying the measures were not going anywhere, even as they face stiff legal resistance. A federal trade court had recently blocked much of Trumps tariff plans, but an appeals court swiftly reinstated them. The case now looks poised to head to the Supreme Court. Trump, undeterred, hinted hed use alternative mechanisms to enforce the tariffs if necessary. This legal showdown is unfolding just weeks ahead of a key July deadline to ink new trade deals. If those talks fall through, Trump has threatened sweeping new tariffs on several major economies.
Business Standard
27-05-2025
- Business
- Business Standard
Sensex settles 625 pts lower; Nifty ends below 24,850; VIX jumps 2.85%
The domestic equity benchmarks ended with major cuts today, snapping a two-day winning streak, as mixed global cues and profit booking weighed on investor sentiment. Caution prevailed ahead of key domestic economic data releases. The Nifty closed below the 24,850 mark. PSU Bank, realty, and pharma stocks advanced, while FMCG, IT, and auto shares declined. As per provisional closing data, the barometer index, the S&P BSE Sensex, tanked 624.82 points or 0.76% to 81,551.63. The Nifty 50 index slipped 174.95 points or 0.70% to 24,826.20. Mahindra & Mahindra (down 2.17%), Axis Bank (down 1.42%) and UltraTech Cement (down 2.28%) dragged the indices lower. In the broader market, the S&P BSE Mid-Cap index rose 0.18% and the S&P BSE Small-Cap index added 0.19%. The market breadth was negative. On the BSE, 1,956 shares rose and 1,976 shares fell. A total of 152 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.85% to 18.54. IPO Update: The initial public offer (IPO) of Schloss Bangalore received bids for 57,34,984 shares as against 4,66,10,169 shares on offer, according to stock exchange data at 15:20 IST on Tuesday (27 May 2025). The issue was subscribed 0.12 times. The issue opened for bidding on Monday (26 May 2025) and it will close on Wednesday (28 May 2025). The price band of the IPO is fixed between Rs 413 and 435 per share. An investor can bid for a minimum of 34 equity shares and in multiples thereof. The initial public offer (IPO) of Aegis Vopak Terminals received bids for 2,15,73,594 lakh shares as against 6,90,58,296 shares on offer, according to stock exchange data at 15:20 IST on Tuesday (27 May 2025). The issue was subscribed 0.31 times. The issue opened for bidding on Monday (26 May 2025) and it will close on Wednesday (28 May 2025). The price band of the IPO is fixed between Rs 223 and 235 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof. The initial public offer (IPO) of Prostarm Info Systems received bids for 3,01,60,800 lakh shares as against 1,12,00,000 shares on offer, according to stock exchange data at 15:20 IST on Tuesday (27 May 2025). The issue was subscribed 2.69 times. The issue opened for bidding on Tuesday (27 May 2025) and it will close on Thursday (29 May 2025). The price band of the IPO is fixed between Rs 223 and 235 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof. New Listing: Shares of Borana Weaves was locked in upper circuit of 5% at Rs 255.10 on the BSE, representing a premium of 18.10% compared with the issue price of Rs 216. The scrip was listed at Rs 243.00, exhibiting a premium of 12.5% to the issue price. The stock has hit a high of 255.10 and a low of 243 On the BSE, over 2.06 lakh shares of the company were traded in the counter. Buzzing Index: The Nifty FMCG fell 0.88% to 56,547.60. The index added 1.70% in the two consecutive previous trading sessions. ITC (down 2.08%), United Spirits (down 1.39%), Godrej Consumer Products (down 1.19%), Tata Consumer Products (down 0.8%), United Breweries (down 0.78%), Hindustan Unilever (down 0.59%), Britannia Industries (down 0.52%), Patanjali Foods (down 0.16%), Emami (down 0.06%) declined. On the other hand, Dabur India (up 0.74%) ,Marico (up 0.59%) and Radico Khaitan (up 0.28%) edged up. Stocks in Spotlight: India Pesticides surged 10.16% after the companys consolidated net profit zoomed 1,953.8% to Rs 21.77 crore on a 64.06% increase in revenue from operations to Rs 207.24 crore in Q4 FY25 compared to Q4 FY24. Blue Dart Express slipped 5.25% after the company reported 29.09% decline in consolidated net profit to Rs 55.15 crore in Q4 FY25 as against Rs 77.78 crore posted in Q4 FY24. However, revenue from operations rose 7.13% YoY to Rs 1,417.32 crore in the quarter ended 31 March 2025. Snowman Logistics fell 1.96%. The company reported 81.4% surge in consolidated net profit to Rs 3.90 crore on an 8.27% rise in revenue from operations to Rs 137.01 crore in Q4 March 2025 over Q4 March 2024. Brainbees Solutions (Firstcry) tanked 5.92% after the companys consolidated net loss widened to Rs 76.74 crore in Q4 FY25, compared with a net loss of Rs 51.74 crore in Q4 FY24. Revenue from operations jumped 15.8% YoY to Rs 1,930.32 crore in Q4 FY25. Olectra Greentech declined 6.65% after the companys consolidated net profit slipped 55.2% to Rs 20.69 crore in Q4 FY25, compared with Rs 46.62 crore in Q3 FY25. Revenue from operations declined 12.89% QoQ to Rs 448.92 crore during the quarter. Venus Remedies soared 9.64% after the company reported a 99.80% surge in consolidated net profit to Rs 21 crore in Q4 FY25 as against Rs 10.51 crore recorded in Q4 FY24. However, revenue from operations decreased marginally to Rs 194.97 crore in Q4 FY25, as against Rs 195.16 crore posted in the corresponding quarter of the previous year. Bondada Engineering rose 5.81% after the company announced that it has secured a Letter of Award (LOA) worth Rs 204.20 crore from Telangana Power Generation Corporation (TGGENCO) for setting up of Battery Energy Storage Systems (BESS). Bajaj Healthcare tumbled 6.81%. The company reported standalone net profit of Rs 11.18 crore in Q4 FY25 as compared with net loss of Rs 29.92 crore posted in Q4 FY24. However, revenue from operations jumped 15.36% year-on-year (YoY) to Rs 154.47 crore in the quarter ended 31 March 2025. Shriram Properties surged 16.30% after the companys consolidated net profit soared 137% to Rs 47.78 crore on 34.9% jump in revenue from operations to Rs 407.73 crore in Q4 FY25 over Q4 FY24. Global Markets: US Dow Jones futures soared 566 points early Tuesday, hinting at a strong start for Wall Street after a long weekend break. The US stock market was shut on Monday for Memorial Day. European markets advanced on Tuesday as French inflation cooled to 0.6% in May. Provisional data from Insee, Frances statistics office, pointed to annual harmonized inflation increasing by 0.6% in May It marked a slowdown from April, when French inflation rose by 0.9% on an annual basis. German consumer sentiment improved in May. According to the GfK Consumer Climate report, sentiment rose for the third consecutive month in May, driven by easing inflation and favorable wage settlements. However, despite the improvement, overall sentiment remained low as U.S. tariff policies continued to dampen consumer willingness to spend, with many hesitant to make discretionary purchases. In the U.K., food inflation rose by 2.8% year-on-year in May, according to the British Retail Consortium. This marks the fourth consecutive month of rising prices, up from 2.6% in April and above the three-month average of 2.6%. Asian shares ended mixed as investors continued to assess the global trade climate after U.S. President Donald Trump deferred 50% tariffs on European Union imports. Japans Nikkei slipped after Bank of Japan Governor Kazuo Ueda highlighted risks from sticky inflation. He hinted that more rate hikes could be on the table if the economy picks up steam. China, meanwhile, offered a glimmer of optimism. Industrial profits rose 3% year-on-year in April, beating Marchs 2.6% growth. For the first four months of the year, profits are up 1.4%, according to the National Bureau of Statistics.
Business Standard
19-05-2025
- Business
- Business Standard
Barometers trade lower; PSU banks jump for 7th day
The key equity indices traded with moderate losses in mid-afternoon trade, investors remained cautious amid global headwinds. The Nifty hovered below the 25,000 level after hitting days high of 25,062.95 in morning trade. PSU Bank surged for the seventh consecutive trading session. At 14:25 IST, the barometer index, the S&P BSE Sensex, declined 279.48 points or 0.34% to 82,051.11. The Nifty 50 index fell 70.55 points or 0.27% to 24,950.35. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.39% and the S&P BSE Small-Cap index jumped 0.73%. The market breadth was strong. On the BSE, 2,456 shares rose and 1,585 shares fell. A total of 189 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 4.87% to 17.36 Buzzing Index: Also Read The Nifty PSU Bank index advanced 1.51% to 6,728. The index rallied 9.07% in seven consecutive trading sessions. Central Bank of India (up 4.49%), Punjab & Sind Bank (up 4.07%), Indian Overseas Bank (up 3.99%), Bank of Maharashtra (up 3.86%), UCO Bank (up 3.32%), Bank of India (up 2.97%), Union Bank of India (up 2.66%), Punjab National Bank (up 2.47%), Indian Bank (up 2.35%) and Bank of Baroda (up 1.25%) surged. Numbers to Track: The yield on India's 10-year benchmark federal paper fell 0.14% to 6.222 compared with the previous close of 6.231. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4250, compared with its close of 85.5700 during the previous trading session. MCX Gold futures for 5 June 2025 settlement rose 1.36% to Rs 93,698. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.74% to 100.34. The United States 10-year bond yield advanced 2.37% to 4.544. In the commodities market, Brent crude for July 2025 settlement fell 48 cents or 0.73% to $64.93 a barrel. Stocks in Spotlight: Kalpataru Projects International added 2.03% after the companys consolidated net profit jumped 37.2% to Rs 225.41 crore on 18.3% increase in revenue from operations to Rs 7066.77 crore in Q4 FY25 over Q4 FY24. Uflex declined 1.90%. The company reported a consolidated net profit of Rs 168.56 crore in Q4 FY25, compared with net loss of Rs 270.95 crore in Q4 FY24. Revenue from operations added 11.31% YoY to Rs 3,814.28 crore in the quarter ended 31 March 2025. Banco Products (India) hit an upper circuit of 20% after the company's consolidated net profit soared 125.20% to Rs 153.50 crore in Q4 FY25 as against Rs 68.16 crore posted in Q4 FY24. The companys revenue from operations jumped 21.04% YoY to Rs 868.40 crore in the quarter ended 31 March 2025.
