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Business Standard
2 days ago
- Business
- Business Standard
Sensex, Nifty trade near flat line, European mrkt decline
The key equity benchmark traded with minor gains in afternoon trade, with investors eyeing the India-US trade deal and the US Feds policy decision. The Nifty traded above the 24,800 level. Auto, realty and media shares declined while IT, FMCG and oil & gas shares advanced. At 13:25 IST, the barometer index, the S&P BSE Sensex advanced 93.44 points or 0.12% to 81,426.06. The Nifty 50 index gained 16.20 points or 0.07% to 24,839.20. In the broader market, the S&P BSE Mid-Cap index rose 0.06% and the S&P BSE Small-Cap index added 0.20%. The market breadth was positive. On the BSE, 1,997 shares rose and 1,893 shares fell. A total of 173 shares were unchanged. Economy: The IMF has revised India's economic growth forecast upward to 6.4% for both 2025 and 2026, reaffirming its position as the world's fastest-growing major economy. Globally, growth is projected at 3.0% and 3.1% for the same years, driven by factors like lower tariffs and a weaker US dollar. Gainers & Losers: Larsen & Toubro (L&T) (up 4.69%), NTPC (up 1.75%), Tata Consumer Products (up 1.64%), Grasim Industries (up 1.50%) and Sun Pharmaceuticals Industries (up 1.37%) were the major Nifty50 gainers. Tata Motors (down 3.33%), Hero Motocorp (down 2.12%), Shriram Finance (down 1.40%), Indusind Bank (down 1.27%) and Mahindra & Mahindra (M&M)(down 1.13%) were the major Nifty50 losers. Larsen & Toubro (L&T) jumped 4.69% after the company reported 30% jump in consolidated net profit to Rs 3,617.19 crore on a 16% rise in revenue to Rs 63,678.92 crore in Q1 FY26 as compared with Q1 FY25. NTPC rose 1.75% after the company reported a 9.80% increase in consolidated net profit to Rs 6,010.60 crore on a 3.2% drop in net sales to Rs 47,065.36 crore in Q1 FY26 over Q1 FY25. Stocks in Spotlight: Allied Blenders and Distillers rose 1.61% after the companys consolidated net profit stood at Rs 56 crore in Q1 FY26, marking a 398.6% increase compared to Rs 11 crore in Q1 FY25. Revenue from operations (excluding excise duty) increased by 21.80% year-on-year (YoY) to Rs 922.86 crore in Q1 FY26. GE Vernova T&D India hit an upper circuit of 5% at Rs 2,604.25 after the companys standalone net profit surged 116.44% to Rs 291.20 on 38.8% increase in revenue from operations to Rs 1,330.13 crore in Q1 FY26 over Q1 FY25. Bank of India added 2.54%after the companys standalone net profit climbed 32.3% to Rs 2,252.12 crore on 12.5% increase in total income to Rs 20,518.29 crore in Q1 FY26 over Q1 FY25. Time Technoplast rose 3.53% after the company announced that its board will meet on 11 August 2025 to consider a bonus share issue. Global Markets: Most European market declined as investors awaiting key regional growth data and the outcome of the US FED meeting. Markets in Asia traded in a mixed on Wednesday as market sentiment remained restrained, with participants weighing the potential impact of renewed trade tensions and the US Feds stance on future interest rate poicy announcements. As U.S. President Donald Trumps deadline to strike a deal and avoid the Liberation Day tariffs approaches, trade negotiations with some countries appear likely to continue until the last possible moment before the August 1 cutoff date. The U.S. Commerce Secretary was quoted by the media saying that President Donald Trumps upcoming Friday deadline to impose major tariffs on a slew of trading partners will not be delayed further. However, the trade negotiations with China are progressing on a separate timeline, the report added. The US Federal Reserve is expected to leave interest rates unchanged at its policy meeting later on Wednesday, though it could see a rare dissent by some central bank officials in favour of lower borrowing costs. Crude prices rose sharply earlier this week as the U.S. threatened to sanction major buyers of Russian oil, to pressure Moscow into ending its conflict with Ukraine. Signs of progress in U.S. trade relations, after a deal was struck with the European Union, also aided oil markets. However, oils rally saw some profit booking emerge steam after industry data revealed an unexpected rise in U.S. crude inventories. The Crude Oil futures were currently down 2 cents or 0.05% to $69.19 per barrel. Data from the American Petroleum Institute, released on Tuesday evening, showed U.S. oil inventories grew about 1.5 million barrels (mb) in the week to July 25. This build contrasted the widely reported market expectations for a 2.5 mb draw, and also marked a reversal from a small draw in the prior week. Stocks on Wall Street closed lower on Tuesday, as investors turn their attention to the Federal Reserves interest rate decision. The S&P 500 slipped 0.30% to close at 6,370.86, while the Nasdaq Composite lost 0.38% to 21,098.29. The Dow Jones Industrial Average slipped 204.57 points, or 0.46%, to finish the session at 44,632.99.
Business Standard
2 days ago
- Business
- Business Standard
GIFT Nifty hints to negative opening; investors await outcome of Fed policy meet
GIFT Nifty: GIFT Nifty August 2025 futures were currently trading 22.50 points (or 0.05%) lower, suggesting a possible negative opening for the Nifty 50 today. Institutional Flows: Foreign portfolio investors (FPIs) sold shares worth Rs 4,636.60 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,146.82 crore in the Indian equity market on 29 July 2025, provisional data showed. According to public data, FPIs have sold shares worth Rs 41,227.73 crore in the cash market during July 2025. This follows their cash purchase of shares worth Rs 7,488.98 crore in June 2024. Global Markets: Markets in Asia traded in a mixed manner on Wednesday as market sentiment remained restrained, with participants weighing the potential impact of renewed trade tensions and the US Feds stance on future interest rate poicy announcements. As U.S. President Donald Trumps deadline to strike a deal and avoid the Liberation Day tariffs approaches, trade negotiations with some countries appear likely to continue until the last possible moment before the August 1 cutoff date. The U.S. Commerce Secretary was quoted by the media saying that President Donald Trumps upcoming Friday deadline to impose major tariffs on a slew of trading partners will not be delayed further. However, the trade negotiations with China are progressing on a separate timeline, the report added. The US Federal Reserve is expected to leave interest rates unchanged at its policy meeting later on Wednesday, though it could see a rare dissent by some central bank officials in favour of lower borrowing costs. Crude prices rose sharply earlier this week as the U.S. threatened to sanction major buyers of Russian oil, to pressure Moscow into ending its conflict with Ukraine. Signs of progress in U.S. trade relations, after a deal was struck with the European Union, also aided oil markets. However, oils rally saw some profit booking emerge steam after industry data revealed an unexpected rise in U.S. crude inventories. The Crude Oil futures were currently down 2 cents or 0.05% to $69.19 per barrel. Data from the American Petroleum Institute, released on Tuesday evening, showed U.S. oil inventories grew about 1.5 million barrels (mb) in the week to July 25. This build contrasted the widely reported market expectations for a 2.5 mb draw, and also marked a reversal from a small draw in the prior week. Stocks on Wall Street closed lower on Tuesday, as investors turn their attention to the Federal Reserves interest rate decision. The S&P 500 slipped 0.30% to close at 6,370.86, while the Nasdaq Composite lost 0.38% to 21,098.29. The Dow Jones Industrial Average slipped 204.57 points, or 0.46%, to finish the session at 44,632.99. Domestic Market: The benchmark equity indices rebounded on Tuesday, ending higher after three consecutive sessions of losses, as value buying in blue-chip stocks lifted sentiment. The renewed buying interest helped counter worries over continued foreign fund outflows and delays in reaching a potential trade agreement with the United States. The Nifty regained the 24,800 mark, with all NSE sectoral indices finishing in positive territory, led by gains in realty, pharma, and healthcare stocks. The S&P BSE Sensex rose 446.93 points, or 0.55%, to close at 81,337.95, while the Nifty 50 advanced 140.20 points, or 0.57%, to 24,821.10. The uptrend follows a three-day losing streak during which the Sensex had shed 2.21% and the Nifty had declined 2.13%.
Business Standard
19-06-2025
- Business
- Business Standard
Dollar index at one-week high as Fed holds rates steady; safe haven demand supports
The dollar index accelerated further gains to hit a one-week high on Thursday after the US Feds decision to keep the policy rate unchanged at the 4.25%4.50% range at its June meeting on Wednesday. Fed Chair Jerome Powell signaled, in a post-meeting press conference, that inflation remains somewhat above goal and could rise in the future, citing the impact of US President Donald Trumps tariffs. However, the central bank expects to cut the rates two times, as indicated by the dot plot. Meanwhile, the greenback also draws support from safe haven demand amid heightened Middle East tensions. The dollar index that measures the greenback against a basket of currencies is quoting at 98.60, up 0.14% on the day. Among the basket currencies, EURUSD and GBPUSD are trading lower by around 0.1% at $1.1528 and $1.3410 respectively.
