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Reuters
7 days ago
- Business
- Reuters
Indian benchmarks open flat as financials offset broader gains ahead of key inflation data
Aug 12 (Reuters) - Indian equity benchmarks were muted at the open on Tuesday, as a pullback in financials offset broader gains, while investors await domestic and U.S. inflation data that could influence near-term interest rate expectations. The Nifty 50 (.NSEI), opens new tab fell 0.01% to 24,583.75 points and the BSE Sensex (.BSESN), opens new tab lost 0.03% to 80,577.85, as of 9:22 a.m. IST. Nine of the 16 major sectors logged gains at the open. However, the heaviest weighted financials (.NIFTYFIN), opens new tab and banks (.NSEBANK), opens new tab lost 0.4% each, after a gain of about 0.9% on Monday on the post-results rally in State Bank of India ( opens new tab. The broader small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab traded flat. Other Asian markets were tepid, with the MSCI Asia ex-Japan index (.MIAPJ0000PUS), opens new tab edging 0.1% higher, as traders reacted little to U.S. President Donald Trump's executive order extending the tariff truce with China by another 90 days. U.S. consumer prices data, due to be released later in the day, is likely to influence U.S. Federal Reserve's rate-cut trajectory. Investors also await Indian retail inflation data, set to be released after market hours on Tuesday. Cooling food prices likely reduced retail inflation to an eight-year low of 1.76% in July, a Reuters poll of economists showed.
Reuters
11-08-2025
- Business
- Reuters
Indian equity benchmarks inch higher led by SBI, Grasim Industries
Aug 11 (Reuters) - India's equity benchmarks inched higher on Monday, led by gains in Grasim Industries and State Bank of India on upbeat quarterly earnings, while uncertainty over U.S. tariffs on Indian goods capped gains. The Nifty 50 (.NSEI), opens new tab rose 0.3% to 24,436.8 points and the BSE Sensex (.BSESN), opens new tab gained 0.31% to 80,108.2 as of 10:30 a.m. IST. Fourteen of the 16 major sectors logged gains. Public sectors banks (.NIFTYPSU), opens new tab rose 2%, led by a 2.2% rise in State Bank of India ( opens new tab. The country's largest lender by assets posted a 12.5% year-on-year profit rise, driven by stronger non-lending income. Grasim Industries ( opens new tab jumped 2.2% after reporting better-than-expected earnings, with Jefferies and Morgan Stanley raising price targets citing strength in its chemicals business. The broader, small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab gained 0.2% and 0.4%, respectively. The Nifty and Sensex (.BSESN), opens new tab shed nearly 1% last week, posting their longest weekly losing streak in five years, as U.S. tariffs and muted earnings weighed. U.S. President Donald Trump imposed a 50% tariff on goods from India, half of which has already come into effect, while the additional 25%, a punitive tariff for buying Russian oil, will be effective from August 28. Markets are eyeing Trump's August 15 meeting in Alaska with Russian President Vladimir Putin, aimed at negotiating an end to the Ukraine war. "Momentum is still skewed to the downside", said Santosh Meena, head of research at Swastika Investmart, referring to the uncertainty over the U.S. trade negotiations. "But the recent slide could trigger a technical rebound, though trade updates will ultimately call the shots." Among individual stocks, Voltas ( opens new tab fell 7% after missing June quarter profit estimates as early monsoons hit demand for residential cooling products. Travel-related services provider Yatra Online ( opens new tab surged 19.5% after posting a four-fold year-on-year jump in quarterly profit.
Reuters
08-08-2025
- Business
- Reuters
State Bank of India posts higher quarterly profit
BENGALURU, Aug 8 (Reuters) - State Bank of India ( opens new tab, the country's largest lender by assets, reported a 12.5% year-on-year rise in quarterly profit on Friday, helped by higher non-lending income. The state-run bank reported a net profit of 191.60 billion rupees ($2.18 billion) in the three months to June end, compared with 170.35 billion rupees a year earlier. ($1 = 87.6975 Indian rupees)
Bloomberg
08-08-2025
- Business
- Bloomberg
Indian Markets Brace for Losses as Tariff Worries Cloud Outlook
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Chiranjivi Chakraborty, an equities reporter in Mumbai. It's Friday, but the mood among traders is not exactly upbeat. Indian equities are headed for their sixth straight week of decline, the longest losing streak since the pandemic. The big concern is Trump's tariffs and how they'll impact the market – even as the government is scrambling to find ways to minimize the damage. Meanwhile, traders are closely watching a crucial support on the Nifty gauge, as well as earnings announcements from heavyweights Tata Motors and State Bank of India later in the day.
Reuters
06-08-2025
- Business
- Reuters
Rupee claws back ground ahead of central bank rate call; US tariff risks linger
MUMBAI, August 6 (Reuters) - The Indian rupee inched up on Wednesday, notching small gains before the central bank's policy decision, set against the backdrop of fresh trade frictions with the United States. The rupee was quoted at 87.74 against the U.S. dollar at 09:42 am IST, up from 87.80 on Tuesday. The Indian currency recovered despite losses in most Asian peers. "At these levels, the rupee will move on its own momentum and today's decision adds another layer," a currency trader at a private bank said. "Markets are firmly positioned for no change in rates, especially after U.S. tariff developments. A rate cut now would be a real surprise and could trigger a decent reaction." The Reserve Bank of India will announce its interest rate decision at 10:00 a.m. IST. A majority of economists in a Reuters poll expect the key policy rate, which stands at 5.50%, to remain at the same level. Major lenders, including State Bank of India and ICICI Bank, are calling for a rate cut, citing the need to support growth. The RBI's policy decision comes at a time of escalating trade tensions between India and U.S. following President Donald Trump's fresh threat of substantial tariffs over India's continued purchases of Russian oil. The remarks have unnerved markets and added pressure on the rupee, which was within a whisker of its all-time low of 87.95 on Tuesday. With uncertainty around how far Washington might go on tariffs, traders are closely watching how much the central bank will factor in these external risks while framing its policy guidance.
