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Business Standard
2 days ago
- Business
- Business Standard
Barometers pare losses; Nifty trades above 24,850
The headline equity benchmarks pared all early losses and traded with minor gains in the morning trade. The Nifty traded above the 24,850 mark. Realty shares witnessed selling pressure for the fifth consecutive trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex rose 57.70 points or 0.08% to 81,517.51. The Nifty 50 index added 31.40 points or 0.12% to 24,864.85. In the broader market, the S&P BSE Mid-Cap index rallied 0.60% and the S&P BSE Small-Cap index rose 0.24%. The market breadth was positive. On the BSE 2,028 shares rose and 1,664 shares fell. A total of 209 shares were unchanged. Economy: India's forex reserves dipped by $1.18 billion to $695.49 billion for the week ending July 18, data by the Reserve Bank of India showed on Friday. For the week ended July 18, foreign currency assets, a major component of the reserves, slipped by $1.201 billion to $587.609 billion, the data released on Friday showed. However, the gold reserves increased by $150 million to $84.499 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $119 million to $18.683 billion, the apex bank said. India's reserve position with the IMF declined by $13 million to $4.698 billion in the reporting week, the apex bank data showed. Result today: Adani Green Energy (up 2.12%), Apollo Micro Systems (down 2.15%), Indusind Bank (down 0.45%), Mazagon Dock Shipbuilders (down 0.75%), JK Paper (down 1.62%), KEC International (up 0.83%), Laxmi Organic Industries (up 0.12%), Mold-Tek Packaging (up 0.95%), Motherson Sumi Wiring India (down 1.01%), NTPC Green Energy (up 2.17%), Paradeep Phosphates (up 5.35%), Piramal Pharma (up 1.06%), Quess Corp (down 0.84%), RailTel Corporation of India (down 1.64%), Sanghi Industries (up 0.39%), Transport Corporation of India (down 1.37%), Thangamayil Jewellery (up 0.46%), Torrent Pharmaceuticals (down 0.09%), TTK Prestige (up 0.08%), UPL (up 0.18%) and Vijaya Diagnostic Centre (up 0.92%) will announce their quarterly results later today. Buzzing Index: The Nifty Realty index dropped 2.90% to 923.05. The index slumped 8.26% in five consecutive trading sessions. Lodha Developers (down 4.37%), DLF (down 2.8%), Prestige Estates Projects (down 2.24%), Brigade Enterprises (down 1.77%), Phoenix Mills (down 1.64%), Oberoi Realty (down 1.55%), Raymond (down 1.25%), Godrej Properties (down 1.24%) and Sobha (down 0.88%) declined. Stocks in Spotlight: ACME Solar Holdings surged 9.16% after the companys consolidated net profit stood at Rs 130.83 crore in Q1 FY26, steeply higher than Rs 1.39 crore in Q1 FY25. Revenue from operations jumped 65% YoY to Rs 510.98 crore in Q1 June 2025. Reliance Infrastructure advanced 2.32% after the company reported a consolidated net profit of Rs 59.84 crore in Q1 FY26, compared to a net loss of Rs 233.74 crore posted in Q1 FY25. Revenue from operations fell 17.86% to Rs 5,907.82 crore in the quarter ended 30 June 2025.
Business Standard
6 days ago
- Business
- Business Standard
Barometers edge lower in early trade; Nifty below 25,200 level
The domestic equity indices traded with minor losses in early trade. The Nifty traded below the 25,200 level. Pharma, metal and PSU bank shares advanced while IT, private bank and financial services shares declined. At 09:30 IST, the barometer index, the S&P BSE Sensex, shed 175.81 points or 0.21% to 82,551.83. The Nifty 50 index shed 34.95 points or 0.14% to 25,185.50. In the broader market, the S&P BSE Mid-Cap index shed 0.23% and the S&P BSE Small-Cap index rose 0.17%. The market breadth was strong. On the BSE, 1,314 shares rose and 941 shares fell. A total of 152 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 4,209.11 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,358.52 crore in the Indian equity market on 23 July 2025, provisional data showed. Stocks in Spotlight: Tilaknagar Industries added 2.48% after the company has signed definitive agreement to acquire the Imperial Blue business division from Pernod Ricard India via slump sale, for a lump sum consideration, basis enterprise value of euro 412.6 million (approximately Rs 4,150 crore as on date). Dr Reddys Laboratories rose 2.85% after the companys consolidated net profit increased 1.8% to Rs 1418.10 crore on 11.4% increase in net sales to Rs 8,545.20 crore in Q1 FY26 over Q1 FY25. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.10% to 6.318 from the previous close of 6.312. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.2500 compared with its close of 86.4125 during the previous trading session. MCX Gold futures for 5 August 2025 settlement shed 0.39% to Rs 99,125. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.09% to 97.13. The United States 10-year bond yield rose 0.11% to 4.394. In the commodities market, Brent crude for September 2025 settlement rose 20 cent or 0.29% to $68.71 a barrel. Global Markets: Asian market traded higher on Thursday as fresh trade developments between the U.S. and Japan, alongside encouraging signals of a deal with the European Union, buoyed investor sentiment. Investor focus shifted to Washingtons evolving trade strategy, with U.S. President Donald Trump setting his sights on the European Union after finalizing a sweeping agreement with Japan. Negotiators from both the U.S. and EU are now under pressure to strike a deal by August 1, as the Trump administration appears firm on its tariff timeline. On Tuesday, the U.S. and Japan sealed what Trump described as "the largest trade deal in history." The agreement includes a $550 billion investment from Japan into the U.S. economy. In return, tariffs on Japanese exports to the American marketranging from automobiles to agricultural goodshave been reduced to 15% from the previously proposed 25%. Trump hailed the deal as a mutually beneficial win that opens Japans markets to U.S. cars, trucks, and farm products. Economic data from Japan, however, painted a mixed picture. The au Jibun manufacturing PMI dropped to 48.8 in Julys preliminary reading, below expectations of 50.2 and down from 50.1 in June, signaling a mild contraction. On the other hand, the services sector showed resilience, with the services PMI rising to 53.5 from 51.7 a month earlier. Overnight on Wall Street, U.S. equities finished higher after Trump promoted his trade accomplishments with Japan and Indonesia on Truth Social. He also hinted at easing tariffs if other nations opened their markets to American goods. Adding to the momentum, Washington unveiled its new AI Action (WA:ACT) Plan. The Dow Jones Industrial Average jumped 1.14% to a six-month high, while the S&P 500 gained 0.78% and the Nasdaq Composite added 0.61%.
Business Standard
17-07-2025
- Business
- Business Standard
Benchmarks end with moderate losses; Nifty ends below 25,150 mark
The key equity benchmarks ended with modest losses today as investors remained cautious amid weak global cues and lingering uncertainty over trade tariffs. Investors will keep an eye on the tariff development, and ongoing corporate earnings. Nifty closed below the 25,150 mark. IT, banking and media shares declined while realty, metal and consumer durables shares advanced. As per provisional closing data, the barometer index, the S&P BSE Sensex declined 375.24 points or 0.45% to 82,259.24. The Nifty 50 index fell 100.60 points or 0.40% to 25,111.45. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.07% and the S&P BSE Small-Cap index added 0.30%. The market breadth was negative. On the BSE, 2,013 shares rose and 2,033 shares fell. A total of 153 shares were unchanged. Buzzing Index: The Nifty IT index declined 1.39% to 37,138.55. the index jumped 1.04% in the past two trading sessions. LTIMindtree (down 2.76%), Tech Mahindra (down 2.72%), Persistent Systems (down 1.7%), Infosys (down 1.55%), Mphasis (down 1.28%), HCL Technologies (down 1.22%), Coforge (down 1.01%), Wipro (down 0.86%), Tata Consultancy Services (down 0.84%) and Oracle Financial Services Software (down 0.81%) declined. Tech Mahindra declined 2.72% after the company reported a 2.24% decline in consolidated net profit to Rs 1,140.6 crore on a 0.25% fall in revenue from operations to Rs 13,351.2 crore in Q1 FY26 over Q4 FY25. New Listing: Shares of Smartworks Coworking Spaces ended at Rs 445.10 on the BSE, representing a premium of 9.36% compared with the issue price of Rs 407. The scrip was listed at Rs 436.10, exhibiting a premium of 7.15% to the issue price. The stock has hit a high of Rs 469 and a low of Rs 436. On the BSE, over 16.76 lakh shares of the company were traded in the counter. Stocks in Spotlight: L&T Technology Services (LTTS) advanced 1.72% after the companys consolidated net profit increased 1.48% to Rs 315.70 crore despite a 3.9% decline in net sales to Rs 2,866 crore in Q1 FY26 over Q4 FY25. Le Travenues Technology (Ixigo) hit upper circuit of 20% after the company reported a 28.48% jump in consolidated net profit to Rs 19.08 crore on 72.89% increase in net sales to Rs 314.47 crore in Q1 FY26 over Q1 FY25. Angel One rose 0.61%. The company consolidated net profit declined 60.89% crore on a 18.85% fall in total revenue from operations to Rs 1,140.5 crore in Q1 FY26 over Q1 FY25. Maruti Suzuki India shed 0.54%. The company has announced a price hike for Baleno and Ertiga models after adding six airbags as standard safety feature. State Bank of India shed 0.31%. The bank informed that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 811.05 per equity share. The floor price of Rs 811.05 is at a discount of 2.47% to the scrips previous closing price of Rs 831.55 on the BSE. Lotus Chocolate Company was locked in lower circuit of 5% after the companys standalone net profit tumbled 56.49% to Rs 2.98 crore in Q1 FY26 as against Rs 6.85 crore posted in Q1 FY25. However, revenue from operations rose 12.31% to Rs 158.70 crore in the first quarter of FY26 from Rs 141.30 crore recorded in Q1 FY25. HDFC Asset Management Company added 2.78% after the companys standalone net profit rose 23.83% to Rs 747.92 crore on 26.58% surge in total income to Rs 1,200.44 crore in Q1 FY26 over Q1 FY25. Navkar Corporation surged 13.35% after the company reported a standalone net profit of Rs 2.45 crore in Q1 FY26 as against a net loss of Rs 13.07 crore posted in Q1 revenue from operations advanced 17.44% year-on-year (YoY) to Rs 138.14 crore in the quarter ended 30 June 2025. Newgen Software Technologies tumbled 6.27% after the company reported 54.1% fall in consolidated net profit to Rs 49.72 crore on a 25.4% decline in revenue from operations to Rs 320.65 crore in Q1 FY26 over Q4 FY25. Global Markets: European indices edged higher on Thursday even as the Eurozones consumer price index (CPI) rose to 2% in June, up from 1.9% in May, signaling a slight uptick in inflation. Meanwhile, the UK unemployment rate climbed to 4.7% in May, compared to 4.6% in the previous month, pointing to some softness in the labor market. Most Asian indices ended higher on Thursday as investors digested Japans second straight monthly drop in exports and conflicting signals from U.S. President Donald Trump on monetary policy and trade. Japans exports slipped 0.5% year-on-year in June, following a 1.7% fall in May, signaling continued weakness in external demand. Meanwhile, Trump denied plans to fire Federal Reserve Chair Jerome Powell, just hours after reportedly telling Republican lawmakers otherwise. The president added fuel to the trade uncertainty by reiterating a potential 25% tariff on Japanese imports, casting doubt on a comprehensive trade deal with Japan. On the flip side, Singapore delivered a surprise. Its non-oil domestic exports surged 13% in June versus a year ago, sharply rebounding from a 3.9% drop in May. This marked the fastest growth since July 2024. U.S. markets shrugged off the Powell drama. The Dow Jones rose 0.53%, the S&P 500 gained 0.32%, and the Nasdaq advanced 0.26% as Trump told reporters he was not planning anything regarding Powells removal, despite continuing to criticize the Fed chief for high interest rates and a pricey renovation of the Fed building. Economic data brought a mixed bag. Producer prices in the U.S. remained flat in June on a monthly basis, with annual growth slowing to 2.3% from Mays 2.7%. However, consumer prices showed signs of heating up, rising 2.7% year-on-year in June compared to 2.4% in May. On a monthly basis, inflation stood at 0.3%, matching expectations. On Wall Street, Tesla shares climbed 3% after the EV giant announced plans to launch a six-seater Model Y this fall. Meanwhile, Global Payments surged 5% following reports that activist investor Elliott Management had taken a stake in the company.
Business Standard
16-07-2025
- Business
- Business Standard
Nifty trades below 25,200 level; metal shares lacklustre
The key equity benchmarks continued to trade with minor losses in morning trade. Investors are monitoring the tariff development, and ongoing corporate earnings. Nifty traded below the 25,200 level. Metal shares dropped after advancing in the past two trading sessions. At 10:25 IST, the barometer index, the S&P BSE Sensex declined 126.86 points or 0.15% to 82,450.60. The Nifty 50 index fell 41.65 points or 0.17% to 25,155.25. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.10% and the S&P BSE Small-Cap index added 0.20%. The market breadth was strong. On the BSE, 2,133 shares rose and 1,435 shares fell. A total of 197 shares were unchanged. Results Today: Tech Mahindra (up 0.58%), ITC Hotels (up 0.55%), Angel One(up 1.26%), D. B. Corp (down 0.70%), Le Travenues Technology (up 2.70%), Kalpataru (up 0.75%), and L&T Technology Services (up 0.54%) will declare their results later today. Buzzing Index: The Nifty Metal index declined 0.81% to 9,336. The index jumped 0.31% in the past two trading sessions. Jindal Stainless (down 1.45%), Steel Authority of India (down 1.05%), Tata Steel (down 0.96%), National Aluminium Company (down 0.88%), Vedanta (down 0.79%), JSW Steel (down 0.75%), Hindalco Industries (down 0.68%), Hindustan Zinc (down 0.66%), APL Apollo Tubes (down 0.36%) and Hindustan Copper (down 0.31%) declined. Stocks in Spotlight: Hathway Cable & Datacom jumped 8.05% after the companys consolidated net profit surged 68.92% to Rs 31.03 on a 5.55% increase in revenue from operations to Rs 530.50 crore in Q1 FY26 over Q1 FY25. HDB Financial Services slipped 2.67% after the company reported a 2.40% decline in net profit to Rs 567.70 crore, despite a 14.97% increase in total revenue from operations to Rs 4,465.40 crore in Q1 FY26 compared to Q1 FY25. Lemon Tree Hotels shed 0.20%. The company has signed a license agreement viz Lemon Tree Resort, Erode, Tamil Nadu. The property shall be managed by the companys wholly owned subsidiary, Carnation Hotels.
Business Standard
25-06-2025
- Business
- Business Standard
Sensex jumps 425 pts in early trade; Nifty above 25,150; VIX tanks 2.63%
The domestic equity indices traded with decent gains in early trade, buoyed by positive global cues. Easing tensions in the Middle East, following a tentative ceasefire between Israel and Iran, helped lift investor sentiment. The Nifty traded above the 25,150 mark. All NSE sectoral indices traded in the green, with consumer durables, oil & gas, and IT stocks seeing the strongest gains. At 09:30 IST, the barometer index, the S&P BSE Sensex, soared 424.45 points or 0.52% to 82,484.56. The Nifty 50 index advanced 117.85 points or 0.47% to 25,162.20. In the broader market, the S&P BSE Mid-Cap index rose 0.59% and the S&P BSE Small-Cap index added 1.05%. The market breadth was strong. On the BSE, 2,353 shares rose and 522 shares fell. A total of 141 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.63% to 13.28. Foreign portfolio investors (FPIs) sold shares worth 5,266.01 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,209.60 crore in the Indian equity market on 24 June 2025, provisional data showed. Stocks in Spotlight: PTC Industries rose 0.86%. The company's subsidiary, Aerolloy Technologies announced the memorandum of understanding (MoU) with Safran Aircraft Engines to develop cooperation on the manufacturing of components and materials for military aircraft engines. Mastek rose 1.10%. The company's chief financial officer, Raghavendra Jha has submitted his resignation from the services. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.16% to 6.261 from the previous close of 6.247. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.9250 compared with its close of 86.0500 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.24% to Rs 97,252. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 97.97. The United States 10-year bond yield added 0.26% to 4.301. In the commodities market, Brent crude for July 2025 settlement rose 87 cents or 1.30% to $68.01 a barrel. Global Markets: Asian shares were mixed on Wednesday, as investors digested news of a potential ceasefire between Israel and Iran alongside fresh signals from the U.S. Federal Reserve. Optimism is building around a U.S.-brokered truce, with President Donald Trump reportedly playing a key role in facilitating the agreement. On Wall Street, sentiment was upbeat overnight. All three major indices ended higher, buoyed by easing geopolitical tensions and dovish hints from the Fed. The Dow Jones Industrial Average rose 1.19%, the S&P 500 added 1.11%, and the tech-heavy Nasdaq climbed 1.43%. Fed Chair Jerome Powell, speaking Tuesday, struck a cautious but calm tone. He reaffirmed the central banks focus on curbing inflation but noted that policymakers were in no rush to tweak rates. Powell said the Fed was well positioned to wait to learn more about the likely course of the economy before making any moves, especially as the impact of tariffs on pricing remains uncertain.
