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Business Standard
2 hours ago
- Automotive
- Business Standard
Nifty below 24,450; auto shares under pressure
The key equity indices witnessed moderate losses in afternoon trade as investors remained cautious amid concerns over the impact of Trumps tariff decision. Market sentiment turned risk-averse, with participants adopting a risk-off approach. Going forward, investors will closely monitor crude oil prices, FII activity and development on the tariff front. The Nifty traded below the 24,450 mark. Auto shares declined after advancing in the previous trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex, dropped 595.48 points or 0.74% to 80,027.78. The Nifty 50 index declined 186.30 points or 0.76% to 24,409.55. In the broader market, the S&P BSE Mid-Cap index declined 1.15% and the S&P BSE Small-Cap index fell 0.49%. The market breadth was negative. On the BSE, 1,723 shares rose and 2,218 shares fell. A total of 150 shares were unchanged. Buzzing Index: The Nifty Auto index fell 1% to 23,570. The index rose 0.25% in the past trading session. Ashok Leyland (down 2.99%), Bharat Forge (down 2.24%), Samvardhana Motherson International (down 1.87%), Tata Motors (down 1.54%), Mahindra & Mahindra (down 1.37%), Tube Investments of India (down 1.21%), TVS Motor Company (down 1.01%), Hero MotoCorp (down 0.85%), MRF (down 0.4%) and Eicher Motors (down 0.17%) declined. On the other Bosch (up 0.4%) and Balkrishna Industries (up 0.37%) edged higher. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.19% to 6.378 from the previous close of 6.390. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 87.7300 compared with its close of 87.5800 during the previous trading session. MCX Gold futures for 3 October 2025 settlement rose 0.47% to Rs 101,929. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.17% to 98.26. The United States 10-year bond yield shed 0.07% to 4.253. In the commodities market, Brent crude for October 2025 settlement added 11 cents or 0.17% to $66.43 a barrel. Stocks in Spotlight: India Pesticides rallied 4.26% after the companys consolidated net profit jumped 79.20% to Rs 34.91 crore in Q1 FY26 as against Rs 19.48 crore posted in Q1 FY25. Revenue from operations surged 24.87% YoY to Rs 275.18 crore in the quarter ended 30 June 2025. Subros slumped 6.53% after the company reported an 11.62% decline in consolidated net profit to Rs 40.83 crore in Q1 FY26, compared to Rs 46.20 crore posted in Q4 FY25. Revenue from operations fell 3.32% quarter-on-quarter (QoQ) to Rs 878.25 crore in the quarter ended 30 June 2025.
Mint
3 hours ago
- Business
- Mint
Top Losers and Gainers on Aug 08: PG Electroplast, Kalyan Jewellers, Biocon, Coforge, Mazagon Dock among top losers
The Indian stock market posted sharp losses in Friday's session, August 8, extending the benchmark indices' weekly losing streak to six weeks, the worst trend bulls have seen in the last five years, indicating sustained selling across the broad. Investor sentiment continues to remain weak amid higher tariffs imposed by US President Donald Trump, disappointing June-quarter earnings so far, and the absence of fresh market triggers, causing Indian stocks to fall to levels not seen since early May and to break key support levels. The Nifty 50 fell 1% to 24,352 points, ending the week with a 0.90% drop, its sixth straight weekly loss. The S&P BSE Sensex also closed 1% lower, falling below the 80K to 79,840, extending its weekly decline. In a more severe blow, the broader markets suffered deeper cuts, with the Nifty Midcap 100 and Nifty Smallcap 100 indices each losing over 1.7% and taking their weekly losses to more than 1.5%.
Business Standard
3 hours ago
- Business
- Business Standard
Benchmarks trade with deep cuts; pharma shares drop
The key equity indices continued to trade with significant cuts in the early afternoon trade, witnessing selling pressure as investors remained cautious amid concerns over the impact of Trumps tariff decision. Market sentiment turned risk-averse, with participants adopting a risk-off approach. Going forward, investors will closely monitor crude oil prices, FII activity and development on the tariff front. The Nifty hovered below the 24,450 mark. Pharma shares declined after advancing in the past trading session. At 12:25 IST, the barometer index, the S&P BSE Sensex dropped 575.35 points or 0.71% to 80,044.96. The Nifty 50 index declined 172.45 points or 0.70% to 24,424.10. In the broader market, the S&P BSE Mid-Cap index declined 0.89% and the S&P BSE Small-Cap index fell 0.35%. The market breadth was negative. On the BSE, 1,714 shares rose and 2,128 shares fell. A total of 153 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, up 2.01% to 11.92. The Nifty 28 August 2025 futures were trading at 24,498.90 at a premium of 74.8 points as compared with the spot at 24,424.10. The Nifty option chain for the 28 August 2025 expiry showed a maximum call OI of 64.2 lakh contracts at the 25,000 strike price. Maximum put OI of 43 lakh contracts was seen at 24,000 strike price. Buzzing Index: The Nifty Pharma index declined 0.81% to 21,510. The index rose 0.75% in the past trading session. Biocon (down 3.89%), Natco Pharma (down 2.39%), Divis Laboratories (down 1.8%), Mankind Pharma (down 1.69%), Aurobindo Pharma (down 1.3%), Alkem Laboratories (down 1.27%), Glenmark Pharmaceuticals (down 1.19%), Gland Pharma (down 0.92%), Granules India (down 0.92%) and Laurus Labs (down 0.78%) tumbled. Stocks in Spotlight: KRBL surged 10.40% after the companys consolidated net profit jumped 74% to Rs 150.58 crore on 32.1% increase in net sales to Rs 1,584.35 crore in Q1 June 2025 over Q1 June 2024. Data Patterns (India) tumbled 6.72% after the companys standalone net profit fell 22.23% to Rs 25.50 crore in Q1 FY26, compared to Rs 32.79 crore posted in Q1 FY25. Revenue from operations declined 4.56% year-on-year (YoY) to Rs 99.33 crore in the quarter ended 30 June 2025.
India Today
7 hours ago
- Business
- India Today
Sensex tumbles 500 points: Why is the stock market down today?
Benchmark stock indices fell sharply in early trade on Friday, as rising trade tensions between India and the United States unnerved investors. The S&P BSE Sensex plunged over 500 points and the NSE Nifty50 slipped more than 150 points, dragged down by foreign institutional selling, a weakening rupee, and fears of further escalation in the tariff standoff with 10:07 am, the Sensex was down 496.21 points at 80,127.05, while the Nifty stood at 24,444.55, lower by 151.60 selloff came after US President Donald Trump ruled out any trade talks with India until pending issues are resolved, a day after announcing a fresh 25% tariff on Indian exports. The new duty, which takes total tariffs to 50%, is scheduled to come into effect from August 27. The White House's tougher stance on India has triggered a fresh wave of concern on Dalal Street, especially as broader market signals remain weak.'The market continues to be technically and fundamentally weak. Continuous lower lows on the Nifty is technically a weak sign. From the fundamental perspective, there are no indications yet of a sharp uptick in earnings for FY26,' said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.'These weak indicators, along with the relatively high valuations in India, are triggering sustained selling by the FIIs,' he added. 'FIIs have sold on all trading days of August so far, taking their total cash market selling in August to Rs 15,950 crore.'Thursday's late-session rebound had briefly lifted sentiment, but traders remain jittery. 'Yesterday's sharp 250-point recovery in the Nifty was caused by short covering triggered by the strong buying by DIIs of Rs 10,864 crores,' Vijayakumar said. 'In the present context of negative sentiments caused by the tariff skirmishes between India and the US, FIIs are likely to continue selling. The only saving grace is the sustained DII buying which remains strong.'Adding to the pressure are macroeconomic headwinds including a volatile rupee, weak corporate earnings, and the RBI's hawkish tone in its latest monetary policy.'Volatility and choppiness are expected in today's trade amid multiple triggers,' said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. 'These include fresh US tariffs on India—doubled to 50% by President Trump, with the extra 25% effective 27 August—FII outflows of over Rs 12,500 crore this week, a weak rupee near 87.78, and uninspiring Q1FY26 earnings.''The RBI has held the repo rate at 5.5% with a neutral stance seen as hawkish. Key Nifty support stands at 24,344; as long as it holds, buying on dips is favoured,' he stocks in focus, TCS was in the spotlight on reports of a possible salary hike for junior staff, while Adani Power rose after securing a Letter of Intent for a 2,400 MW thermal plant. Jindal Stainless gained on the back of strong earnings, while Maruti Suzuki was Tapse's top buy, with a potential breakout toward 14, no sign yet of de-escalation on the trade front, markets are likely to remain volatile heading into the next week. Sustained domestic institutional flows may cushion the fall, but pressure from global uncertainty and foreign outflows is expected to persist.- EndsMust Watch
Business Standard
a day ago
- Business
- Business Standard
Indices claw back to close in green amid late buying; Nifty ends above 24,590
The domestic equity benchmarks staged a late rebound on Thursday, with the benchmark indices managing to shake off early jitters and end slightly in the green. The turnaround came in the final trading hour, coinciding with the weekly expiry of Nifty derivatives, as bargain hunters stepped in and buying momentum picked up. Sentiment, initially weighed down by the U.S. administrations surprise announcement to double tariffs on Indian exports, found relief after top brokerages downplayed the long-term impact on India Inc. While the August 27 deadline looms large, analysts noted that negotiations remain on the table, tempering fears of an all-out trade hit. The Nifty 50 opened at 24,464.20 and briefly ticked higher, but the momentum fizzled out by mid-morning. The index drifted lower through the day, hitting a session low of 24,344.15 early in the afternoon. Then came the rebound: a sharp recovery driven by buying in heavyweight counters propelled the index to an intraday high of 24,634.20. The Nifty eventually settled above 24,590, reflecting a strong late-session rebound after a lackluster start. IT and pharma stocks attracted strong buying interest, while energy and realty counters faced selling pressure. The S&P BSE Sensex added 79.27 points or 0.10% to 80,623.26. The Nifty 50 index rose 21.95 points or 0.09% to 24,596.15. Hero Motocorp (up 4.13%), JSW Steel (up 1.36%) and HDFC Bank (up 0.63%) pushed the Nifty higher today. In the broader market, the S&P BSE Mid-Cap index rose 30% and the S&P BSE Small-Cap index fell 0.18%. The market breadth was negative. On the BSE, 1,844 shares rose and 2,193 shares fell. A total of 155 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 2.27% to 11.69. Trump's Tariff: United States President Donald Trump announced an additional 25% tariff on Indian goods on August 6. This effectively doubles the total import duties to 50%. The decision responds to Indias ongoing purchase of Russian oil, which the U.S. believes undermines its sanctions. The new tariffs will come into effect on August 27. The move is expected to severely impact key Indian export sectors, including leather, chemicals, footwear, gems and jewellery, textiles, and shrimp. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.05% to 6.404 from the previous close of 6.407. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.7050 compared with its close of 87.7200 during the previous trading session. MCX Gold futures for 03 October 2025 settlement rose 0.24% to Rs 1,01,500. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 98. The United States 10-year bond yield shed 0.02% to 4.229. In the commodities market, Brent crude for Oct 2025 settlement gained 43 cents or 0.64% to $67.32 a barrel. Global Markets: The US Dow Jones index futures are currently up by 247 points, indicating a positive start for US stocks today. Most European markets traded higher on Thursday as investors turned their focus to the upcoming Bank of England monetary policy meeting. Most Asian indices ended higher even as U.S. President Donald Trump vowed to impose a 100% tariff on imports of semiconductors and chips. However, the companies that are "building in the United States" would be exempted from the said tariff. Meanwhile, South Korea posted a record-high current account surplus in June on strong demand for technology exports, central bank data showed on Thursday. The country's current account stood at a surplus of $14.27 billion, up from $10.14 billion in May. It was reportedly the biggest monthly surplus in the data series dating back to January 1980. South Korea's trade deal with the U.S. will take a huge burden off monetary policymakers at their upcoming meeting later this month, the country's central bank governor reportedly said on Thursday at his first meeting with the newly appointed finance minister. The Bank of Korea kept its benchmark interest rate unchanged at 2.50% last month, but a majority of board members signaled another rate cut in the next three months and warned of "significant" economic uncertainty from the U.S. tariffs. The central bank next meets on August 28. All three major equity averages on Wall Street finished with gains on Wednesday. The S&P 500 advanced 0.73% to finish at 6,345.06, while the Nasdaq Composite jumped 1.21%, closing at 21,169.42. The Dow Jones Industrial Average also rose 81.38 points, or 0.18%, to end the day at 44,193.12. Stocks in Spotlight: Hero Motocorp advanced 4.13% after the companys standalone net profit rose 0.3% to Rs 1,125.70 crore despite of 5.6% decline in revenue from operations to Rs 9,578.86 crore in Q1 FY26 over Q1 FY25. Sula Vineyards declined 4.88% after the companys consolidated net profit tumbled 86.7% to Rs 1.94 crore on 9.3% fall in revenue from operations (excluding net excise duty) to Rs 109.64 crore in Q1 FY26 over Q1 FY25. Trent shed 0.85%. The company reported a 9.45% increase in consolidated net profit to Rs 429.69 crore in Q1 FY26 as against Rs 392.57 crore posted in Q1 FY25. Revenue from operations jumped 18.98% YoY to Rs 4,883.48 crore in the quarter ended 30 June 2025. Rain Industries surged 7.36% after the company reported a net profit of Rs 60.70 crore in Q2 FY25, compared to a loss of Rs 77.88 crore in Q2 FY24. Revenue from operations rose 7.5% to Rs 4,401.38 crore from Rs 4,094.15 crore a year earlier. Caplin Point Laboratories surged 6.71%. The company reported an 11.2% rise in revenue from operations to Rs 510.2 crore in Q1 FY26. Profit before tax jumped 19.5% YoY to Rs 184.5 crore, while profit after tax (PAT) rose 20.7% to Rs 150.8 crore. EBITDA came in at Rs 200.9 crore, growing 17.9% YoY, with the EBITDA margin expanding to 37.7% from 35.7% in Q1 FY25. PVR Inox rose 2.86%. The cinema exhibitor reported a net loss after minority interest of Rs 54 crore in Q1 FY26, compared to a significantly wider loss of Rs 178.70 crore in the same quarter last year. Net sales rose 23.38% year-on-year to Rs 1,469.10 crore, up from Rs 1,190.70 crore in Q1 FY25. Jindal Stainless declined 1.02%. The company has reported an 11% rise in consolidated net profit to Rs 715 crore on an 8% increase in revenue from operations to Rs 10,207 crore in Q1 FY26 over Q1 FY25. Bharat Heavy Electricals (BHEL) tanked 4.94% after the companys consolidated net loss widened to Rs 445.50 crore in Q1 FY26 compared with a net loss of Rs 211.40 crore in Q1 FY25. Revenue from operations saw a marginal year-on-year (YoY) increase of 0.03%, reaching Rs 5,486.91 crore in the quarter ended 30 June 2025. IRCON International declined 3.58% after the companys consolidated net profit dropped 26.75% to Rs 164.10 crore in Q1 FY26, compared to Rs 224.03 crore in Q1 FY25. Revenue from operations declined 21.89% to Rs 1,786.28 crore during the quarter, compared to Rs 2,287.13 crore in the same quarter last year. VIP Industries rose 1.66%. The firm reported a consolidated net loss of Rs 13.10 crore in Q1 FY26 compared with a net profit of Rs 4.04 crore in Q1 FY25. Revenue from operations declined 12.12% year on year (YoY) to Rs 561.43 crore in the quarter ended 30 June 2025. Fortis Healthcare jumped 2.83% after the company reported a 56.83% surge in consolidated net profit to Rs 260.28 crore in Q1 FY26, compared to Rs 165.96 crore in Q1 FY25. Revenue from operations rose 16.55% year-on-year (YoY) to Rs 2,166.72 crore in the quarter ended 30 June 2025. RateGain Travel Technologies added 3.04% after the companys consolidated net profit jumped 3% to Rs 46.93 crore on 4.96% increase in revenue from operations to Rs 272.91 crore in Q1 FY26 over Q1 FY25. IPO Update: Highway Infrastructure's IPO received bids for 4,80,62,11,805 shares as against 1,60,43,046 shares on offer, according to stock exchange data at 16:33 IST on Wednesday (6 August 2025). The issue was subscribed 299.58 times. JSW Cement's IPO received bids for 5,12,76,114 shares as against 18,12,94,964 shares on offer, according to stock exchange data at 16:33 IST on Wednesday (6 August 2025). The issue was subscribed 0.28 times. All Time Plastics' IPO received bids for 36,28,530 shares as against 1,05,46,297 shares on offer, according to stock exchange data at 16:33 IST on Thursday (7 August 2025). The issue was subscribed 0.34 times.
