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Business Standard
a day ago
- Business
- Business Standard
Nifty above 24,950; metal shares shine
The domestic equity barometers traded with strong gains in early afternoon trade after the RBI cut the repo rate by 50 bps to 5.50%, amid a favorable domestic environment. Looking ahead, the MPC will closely monitor evolving domestic and global conditions to guide future policy moves. Market participants are also closely tracking bond markets and global trade dynamics. The Nifty traded above the 24,950 mark. The higher-than-expected 50 bps rate cut decision by the MPC, though positive for growth, is slightly negative from the market perspective for the near term. The change in monetary stance from accommodative to neutral also indicates that more rate cuts are unlikely unless the situation warrants. This big rate cut will impact the margins of the banks, and therefore, bank stocks will be under pressure in the near term. However, the anticipated boost to credit growth could help offset the decline in margins over time. Metal stocks extend gains for the third straight session. At 12:30 IST, the barometer index, the S&P BSE Sensex, surged 737.14 points or 0.91% to 82,179.18. The Nifty 50 index jumped 241.45 points or 0.97% to 24,994.65. In the broader market, the S&P BSE Mid-Cap index rose 0.59% and the S&P BSE Small-Cap index added 0.43%. The market breadth was positive. On the BSE, 2,142 shares rose and 1,697 shares fell. A total of 186 shares were unchanged. The Reserve Bank of India (RBI) cut the policy repo rate by 50 basis points to 5.50%, signaling a shift in its monetary policy stance from accommodative to neutral. The decision, announced at the conclusion of the Monetary Policy Committees (MPC) 55th meeting held from June 4 to 6, 2025, was driven by easing inflation and a stable growth outlook. With the rate cut coming into effect immediately, the standing deposit facility (SDF) rate now stands at 5.25%, while the marginal standing facility (MSF) rate and the bank rate are adjusted to 5.75%. This decision is in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth. The RBI maintained its real GDP growth projection for FY26 at 6.5%, with quarterly growth seen at 6.5% in Q1, 6.7% in Q2, 6.6% in Q3, and 6.3% in Q4. On the inflation front, the RBI revised its forecast downward to 3.7% for FY26 from the earlier estimate of 4%. Quarterly projections suggest CPI inflation at 2.9% in Q1, 3.4% in Q2, 3.9% in Q3, and 4.4% in Q4. The RBI cited broad-based moderation in inflation over the past six months, with headline CPI now well below target. It noted that both food and core inflation are expected to remain soft, helped by easing global commodity prices amid a global growth slowdown. Looking ahead, the MPC emphasized a data-dependent approach, stating it will closely monitor evolving domestic and global conditions to guide future policy moves. The minutes of the MPC meeting will be released on June 20, and the next policy meeting is scheduled from August 4 to 6, 2025. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.97% to 15.14.94. The Nifty 26 Jun 2025 futures were trading at 25,078.30, at a premium of 83.65 points as compared with the spot at 24,611.95. The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 54.1 lakh contracts at the 26,000 strike price. A maximum put OI of 53.5 lakh contracts was seen at 24,000 strike price. Buzzing Index: The Nifty Metal index rose 1.32% to 9,353.55. The index added 2.53% in the past three trading sessions. JSW Steel (up 4.08%), Jindal Stainless (up 2.59%), Hindustan Zinc (up 1.91%), National Aluminium Company (up 1.67%), Welspun Corp (up 1.66%), Hindustan Copper (up 1.63%), NMDC (up 1.62%), Adani Enterprises (up 1.45%), Jindal Steel & Power (up 1.11%) and Hindalco Industries (up 1.09%) advanced. On the other hand, Lloyds Metals & Energy (down 2.75%), Tata Steel (down 0.97%) and APL Apollo Tubes (down 0.64%) edged lower. Stocks in Spotlight: Max Estates rose 2.01% after its board approved a material related party transaction between Max Estates Gurgaon Two (Developer), a wholly-owned subsidiary, and Antara Senior Living (ASLL), a wholly-owned subsidiary of Max India. Praj Industries rose 2.87% after the company secured an international assignment from Enersur SA, one of Paraguays leading renewable energy firms, to develop a fully integrated biorefinery project in the South American nation. Brigade Enterprises rose 2.51% after the companys wholly owned subsidiary, Brigade Tetrarch, announced the incorporation of a Limited Liability Partnership (LLP) named Auraterra Developers LLP.
Business Standard
2 days ago
- Business
- Business Standard
Nifty climbs above 24,700 level; pharma shares rally for 2nd day
The key benchmark indices traded with moderate gains in morning trade, supported by buying interest amid positive global sentiment. While investors await the outcome of the RBI policy meeting later this week, they are also closely monitoring bond markets, Brent crude trends, and global trade developments. The Nifty traded above the 24,700 level. Pharma shares rallied for the second consecutive trading sessions. At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 357.15 points or 0.44% to 81,355.40. The Nifty 50 index added 117 points or 0.48% to 24,730.65. In the broader market, the S&P BSE Mid-Cap index rose 0.41% and the S&P BSE Small-Cap index added 0.68%. The market breadth was strong. On the BSE, 2,420 shares rose and 1,108 shares fell. A total of 210 shares were unchanged. Buzzing Index: The Nifty Pharma index jumped 1% to 21,585.35. The index increased 1.08% for the two consecutive trading sessions. Dr Reddys Laboratories (up 2.88%), Glenmark Pharmaceuticals (up 2.46%), Zydus Lifesciences (up 1.98%), Laurus Labs (up 1.76%), Lupin (up 1.74%), Aurobindo Pharma (up 1.48%), Cipla (up 1.23%), Natco Pharma (up 0.94%), Mankind Pharma (up 0.65%) and Alkem Laboratories (up 0.61%) advanced. Dr. Reddy's Laboratories rose 2.88% after the company announced a collaboration with Iceland-based Alvotech to co-develop and commercialize a biosimilar to Keytruda (pembrolizumab) for global markets. Stock in Spotlight: CESC shed 0.09%. 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)
Business Standard
23-05-2025
- Business
- Business Standard
Nifty climbs above 24,750 mark; IT shares jump
The key equity indices traded with significant gains in morning trade. The Nifty traded above the 24,750 mark. The market displayed resilience despite concerns over rising interest rates in the U.S. and the widening federal deficit. Traders are expected to closely monitor bond market movements and global economic developments. IT shares jumped after declining in the past trading session. At 10:27 IST, the barometer index, the S&P BSE Sensex, added 516.63 points or 0.64% to 81,467.04. The Nifty 50 index advanced 162.60 points or 0.66% to 24,771.80. In the broader market, the S&P BSE Mid-Cap index advanced 0.15% and the S&P BSE Small-Cap index jumped 0.15%. The market breadth was positive. On the BSE, 1,942 shares rose and 1,501 shares fell. A total of 216 shares were unchanged. Result Today: JSW Steel (up 0.99%), Aditya Birla Fashion and Retail (ABFRL) (up 0.33%), Afcons Infrastructure (down1.16%), AIA Engineering (down 0.93%), Anupam Rasayan India (up 1.32%), Apollo Micro Systems (down 3.02%), Ashoka Buildcon (up 0.05%), Ashok Leyland (up 0.50%), Azad Engineering (down 0.12%), Balkrishna Industries (up 0.56%), BEML (up 0.29%), Cello World (up 0.41%), Devyani International (down 0.50%), Dreamfolks Services (up 7.47%) will announce their results later today. Buzzing index: The Nifty IT index jumped 1.87% to 37,743.75. The index fell 1.31% in the past trading session. Persistent Systems (up 2.56%), Tech Mahindra (up 2.37%), Coforge (up 2.2%), Oracle Financial Services Software (up 2.15%), Infosys (up 2.15%), HCL Technologies (up 1.83%), Mphasis (up 1.73%), Wipro (up 1.61%), Tata Consultancy Services (up 1.24%) and LTIMindtree (up 1.1%) surged. Stock in Spotlight: Grasim Industries added 1.09% after the companys consolidated net profit increased 9.2% to Rs 1,545.99 crore in Q4 FY25 as compared with Rs 1,369.82 crore in Q4 FY24. Revenue from operations jumped 17.3% YoY to Rs 44,267.26 crore during the quarter ended 31st March 2025. Metro Brands jumped 8.23%. The company reported 38.9% decline in consolidated net profit to Rs 94.75 crore in Q4 FY25 as compared with Rs 155.17 crore in Q4 FY24. Net sales jumped 10.3% YoY to Rs 642.77 crore in Q4 FY25.
Business Standard
20-05-2025
- Business
- Business Standard
Nifty fails to hold 24,900 level; realty shares jump
The key equity indices traded with limited losses in morning trade as investors engaged in mild profit booking despite supportive global cues. The Nifty traded below the 24,900 level. Market participants will closely monitor global trade developments and the ongoing Q4 earnings season, which are likely to influence sentiment in the coming days. Realty shares witnessed buying demand for fifth consecutive trading session. At 10:25 IST, the barometer index, the S&P BSE Sensex, declined 207.05 points or 0.25% to 81,852.37. The Nifty 50 index fell 44.90 points or 0.19% to 24,894.40. In the broader market, the S&P BSE Mid-Cap index fell 0.27% and the S&P BSE Small-Cap index shed 0.06%. The market breadth was positive. On the BSE, 1,772 shares rose and 1,729 shares fell. A total of 207 shares were unchanged. Result Today: Hindalco Industries(up 1%), Zydus Lifesciences(down 0.98%), Aster DM Healthcare(down 0.43%), Automotive Axles(up 0.68%), Dixon Technologies (India)(up 1.65%), EIH(up 0.13%), Fortis Healthcare(down 1.18%), Gland Pharma(up 1.77%), JK Tyre & Industries(down 0.48%), Laxmi Organic Industries(down 1.25%), Max Healthcare Institute(down 2.80%), NHPC (down 0.26%), Solar Industries India(down 0.05%), Talbros Engineering(up 1.76%), Torrent Pharmaceuticals(down 1.14%), United Spirits(down 0.01%), Whirlpool of India(up 0.62%), and J Kumar Infraprojects (up 0.73%) will release their quarterly earnings later today. Buzzing Index: The Nifty Realty index advanced 1% to 942.55. The index rose 8.8% in the five consecutive trading sessions. DLF (up 5.29%), Raymond (up 4.95%), Sobha (up 0.55%), Prestige Estates Projects (up 0.36%) and Godrej Properties (up 0.09%) advanced. On the other hand, Phoenix Mills (down 1.16%), Macrotech Developers (down 1.01%) and Brigade Enterprises (down 0.91%) declined Stocks in Spotlight: Eris Lifesciences rallied 3.53% after the company reported a 30.29% jump in consolidated net profit to Rs 92.01 crore on 28.38% increase in revenue from operations to Rs 702.60 crore in Q4 FY25 over Q4 FY24. Ashok Leyland added 1.18% after the companys board is scheduled to meet on 23 May to consider the proposal for the issue of bonus shares. Adani Ports & Special Economic Zone (APSEZ) shed 0.18%. The companys board will meet on 23 May to consider issuing non-convertible debentures (NCDs) via a private placement basis.
Business Standard
22-04-2025
- Business
- Business Standard
Market at day's high; realty shares climbs for 6th day
The key equity benchmarks traded with limited gains in morning trade. Investor sentiment remained positive, aided by continued foreign institutional inflows. The Nifty scaled above the 24,200 level. Realty shares soared for the sixth consecutive trading session. At 10:25 IST, the barometer index, the S&P BSE Sensex added 297.10 points or 0.37% to 79,705.60. The Nifty 50 index rose 88 points or 0.36% to 24,213.55. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 0.79% and the S&P BSE Small-Cap index advanced 0.85%. The market breadth was strong. On the BSE, 2,489 shares rose and 1,039 shares fell. A total of 182 shares were unchanged. Earnings Today: HCL Technologies(down 0.31%), Tata Communications(up 0.56%), Waaree Energies(up 4.88%), M&M Financial Services(down 0.53%), AU Small Finance Bank(down 1.75%), Havells India(up 0.31%), Cyient DLM(up 3.27%), Delta Corp(up 1.20%), Huhtamaki India (down 0.92%) will declare their result later today. Economy: In a relief to banks, the Reserve Bank of India has finalized its Liquidity Coverage Ratio (LCR) guidelines, reducing the proposed additional run-off factor on internet and mobile banking-enabled retail deposits to 2.5%, effective 1 April 2026. Under the new norms, stable and less stable retail deposits will now attract run-off factors of 7.5% and 12.5%, respectively. The RBI also lowered the run-off rate on wholesale funding from non-financial entities like trusts and LLPs to 40% from 100%, aiming to better reflect funding stability. These changes are expected to improve banks' LCR by about 6% while ensuring continued compliance with minimum regulatory Buzzing Index: The Nifty Realty index rallied 1.80% to 879.65. The index surged 12.73% for the six trading sessions. Raymond (up 7.62%), Anant Raj (up 3.63%), Sobha (up 3.01%), Macrotech Developers (up 2.98%), Phoenix Mills (up 2.25%), Oberoi Realty (up 2.2%), Brigade Enterprises (up 1.38%), Prestige Estates Projects (up 1.21%), Godrej Properties (up 0.78%) and DLF (up 0.76%) surged. Stocks in Spotlight: Himadri Speciality Chemical added 0.69% after the companys consolidated net profit climbed 35.9% to Rs 155.58 crore in Q4 FY25, compared with Rs 115.16 crore in Q4 FY24. Revenue from operations fell 3.59% YoY to Rs 1,134.64 crore in Q4 FY25. H.G. Infra Engineering advanced 2.08% after the company announced that it had been declared a qualified bidder for a major battery energy storage project in Gujarat. The project is expected to be executed over a period of 24 months. Poonawalla Fincorp (PFL) rose 0.87%. The company has announced the launch of of its consumer durables loans business, marking its entry into the fast-growing and high-velocity segment of retail lending. In phase one, PFL plans to expand into 70 locations across key metros, as well as Tier 2 and Tier 3 cities, collaborating with 5,000 dealers, including regional retailers and small businesses with strong local reach.
