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Business Recorder
4 days ago
- Business
- Business Recorder
Indian benchmarks set to open higher on optimism over US trade talks with China, India
India's benchmark indexes are poised to open marginally higher on Wednesday, mirroring gains in other Asian markets on signs of progress in trade talks between the US and its key trading partners such as India and China. The Gift Nifty futures were trading at 25,183.50 as of 8:18 a.m. IST, indicating that the Nifty 50 will open above Tuesday's close of 25,104.25. Other Asian markets rose at the open, with the MSCI Asia ex-Japan index gaining 0.4%, following an agreement between the US and Chinese negotiators on a trade deal framework in London, pending approval by their leaders. Meanwhile, Indian and US officials made progress in bilateral trade talks in New Delhi, discussing key areas such as industrial goods, agriculture, tariff reductions and non-tariff barriers, according to Indian government sources. The Indian benchmarks closed flat on Tuesday, snapping a four-session gaining streak, as profit booking in financials offset gains driven by optimism around the US-China trade talks. Financials, IT stocks weigh on Indian equity benchmarks 'Consolidation seems like the current mood in Indian markets, but progress in global trade talks, improving liquidity and FPI interest can keep the bulls hopeful,' said Vikram Kasat, head of advisory of PL Capital. Foreign portfolio investors remained net buyers of Indian shares for the third straight session on Tuesday, purchasing stocks worth 23.02 billion rupees ($269 million). Domestic institutional investors were net buyers for the 16th straight session on Tuesday.
Reuters
4 days ago
- Business
- Reuters
Indian benchmarks set to open higher on optimism over US trade talks with China, India
June 11 (Reuters) - India's benchmark indexes are poised to open marginally higher on Wednesday, mirroring gains in other Asian markets on signs of progress in trade talks between the U.S. and its key trading partners such as India and China. The Gift Nifty futures were trading at 25,183.50 as of 8:18 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open above Tuesday's close of 25,104.25. Other Asian markets rose at the open, with the MSCI Asia ex-Japan index (.MIAPJ0000PUS), opens new tab gaining 0.4%, following an agreement between the U.S. and Chinese negotiators on a trade deal framework in London, pending approval by their leaders. Meanwhile, Indian and U.S. officials made progress in bilateral trade talks in New Delhi, discussing key areas such as industrial goods, agriculture, tariff reductions and non-tariff barriers, according to Indian government sources. The Indian benchmarks closed flat on Tuesday, snapping a four-session gaining streak, as profit booking in financials offset gains driven by optimism around the U.S.-China trade talks. "Consolidation seems like the current mood in Indian markets, but progress in global trade talks, improving liquidity and FPI interest can keep the bulls hopeful," said Vikram Kasat, head of advisory of PL Capital. Foreign portfolio investors remained net buyers of Indian shares for the third straight session on Tuesday, purchasing stocks worth 23.02 billion rupees ($269 million). Domestic institutional investors were net buyers for the 16th straight session on Tuesday. ** Wipro ( opens new tab announces partnership with international food wholesaler Metro AG for two years ** HCLTech ( opens new tab expands partnership with The Standard to accelerate AI-led transformation and deliver digital-first services ** Texmaco Rail and Engineering ( opens new tab wins orders worth 440.4 million rupees ($1 = 85.5670 Indian rupees)
Mint
02-06-2025
- Business
- Mint
Indian stock market: 10 key things that changed for market over weekend- Gift Nifty, Trump tariffs to Russia-Ukraine war
Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open flat amid weak global market cues. Asian markets traded lower, while the US stock futures declined after a strong performance in May, as the S&P 500 and Nasdaq registered their biggest monthly percentage gains since November 2023. This week, investors will monitor key stock market triggers, including the Reserve Bank of India (RBI)'s Monetary Policy Committee (MPC) meeting, global tariff announcements, monthly auto sales, flow of foreign capital, macroeconomic data, and other key global market cues. On Friday, the Indian stock market ended lower, with the benchmark Nifty 50 closing May with gains of 1.7%, its third consecutive month of rise. The Sensex dropped 182.01 points, or 0.22%, to close at 81,451.01, while the Nifty 50 settled 82.90 points, or 0.33%, lower at 24,750.70. 'Strong institutional inflows and expectations of a positive domestic economic outlook continue to support market sentiment. However, global trade uncertainties and sector-specific challenges may limit upside potential in the near term. Investors are advised to stay diversified and closely track macroeconomic indicators and policy developments as markets transition into June,' said Vikram Kasat, Head - Advisory, PL Capital. Here are key global market cues for Sensex today: Asian markets traded lower on Monday after US President Donald Trump announced doubling of tariffs on steel imports to 50%, effective from June 4. Japan's Nikkei 225 dropped 0.89% and the Topix fell 0.65%. South Korea's Kospi gained 0.16% while the Kosdaq traded flat. Hong Kong's Hang Seng index futures indicated a lower opening. Markets in China, Malaysia and New Zealand are closed for the holidays. Gift Nifty was trading around 24,870 level, a discount of nearly 1 point from the Nifty futures' previous close, indicating a flat start for the Indian stock market indices. US stock market ended volatile session little changed on Friday after President Donald Trump slammed China before sounding upbeat about reaching a trade deal. The Dow Jones Industrial Average gained 54.34 points, or 0.13%, to 42,270.07, while the S&P 500 eased 0.48 points, or 0.01%, to 5,911.69. The Nasdaq Composite closed 62.11 points, or 0.32%, lower at 19,113.77. The S&P 500 rose about 6.2% in May, while the Nasdaq surged 9.6% for the month. Nvidia share price fell 2.92%, Tesla stock price declined 3.34%, while Apple shares gained 0.45% and Microsoft stock rose 0.37%. Ulta Beauty shares jumped 11.8%. A Ukrainian drone attack has destroyed more than 40 Russian planes deep in Russia's territory, while Moscow pounded Ukraine with missiles and drones just hours before a new round of direct peace talks in Istanbul. US President Donald Trump announced that the United States would double steel tariffs from 25% to 50% effective Wednesday, June 4. Trump also promoted the partnership between Japan's Nippon Steel and US Steel. The Personal Consumption Expenditures (PCE) Price Index rose 0.1% last month after being unchanged in March. In the 12 months through April, PCE prices increased 2.1% after advancing 2.3% in March. Stripping out the volatile food and energy components, the PCE price index gained 0.1% last month. India's economic growth slowed to 7.4% in the March quarter of FY25, bringing down the annual growth rate to 6.5% during 2024-25. The GDP growth in the January-March period was lower than the 8.4% expansion in the year-ago quarter. India's fiscal deficit for FY25 stood at ₹ 15.77 lakh crore, slightly higher than the ₹ 15.70 lakh crore estimated for the year. The latest figure is lower than the ₹ 16.54 lakh crore registered in FY24, which was 95.3% of the estimates for the year. The government's fiscal deficit target was 4.8% of the GDP for FY25, with a further reduction to 4.4% targeted for 2025-26. The gross Goods and Services Tax (GST) collections rose 16.4% year-on-year (YoY) to over ₹ 2.01 lakh crore in May, after a record high GST collection of ₹ 2.37 lakh crore in April. Crude oil prices rallied after geopolitical tensions and trade risks increased, and as OPEC hiked production less than expected. Brent crude oil prices gained 2.09% to $64.09 a barrel, while the US West Texas Intermediate (WTI) crude futures rose 2.30% to $62.19. (With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
The Print
13-05-2025
- Business
- The Print
Sharp rally in markets makes investors richer by Rs 16.15 lakh cr
After starting the trade on an optimistic note, the 30-share BSE benchmark gauge Sensex further jumped 2,975.43 points or 3.74 per cent to settle at 82,429.90. During the day, it rallied 3,041.5 points or 3.82 per cent to a high of 82,495.97. Also, a trade agreement between the US and China added to the markets' optimism. New Delhi, May 12 (PTI) Dalal Street investors became richer by Rs 16.15 lakh crore on Monday as markets skyrocketing nearly 4 per cent, after India and Pakistan announced reaching an understanding to stop all firings and military actions on land, air and sea. The market capitalisation of BSE-listed firms jumped by Rs 16,15,275.19 crore to Rs 4,32,56,125.65 crore (USD 5.05 trillion) in a single day. 'Confluence of positive geopolitical and economic developments — the ceasefire between India and Pakistan, coupled with a breakthrough trade agreement between the US and China — sparked the strongest daily market rally in recent times,' Vinod Nair, Head of Research at Geojit Investments Limited, said. From the Sensex firms, Infosys jumped 7.91 per cent. HCL Tech, Tata Steel, Eternal, Tech Mahindra, Tata Consultancy Services, Axis Bank, ICICI Bank, Bajaj Finance, NTPC and Reliance Industries were the other major gainers. Sun Pharma and IndusInd Bank were the only laggards from the blue-chip pack. 'Markets staged a sharp rebound on Monday, buoyed by easing geopolitical tensions after the India-Pakistan ceasefire. Benchmark indices posted their strongest single-day performance in over four years,' Vikram Kasat, Head – Advisory at PL Capital, said. The BSE smallcap gauge surged 4.18 per cent and midcap index jumped 3.85 per cent. 'Markets opened the week on a strong footing, rallying nearly 4 per cent, driven by supportive global and domestic cues. The key trigger was the announcement of a ceasefire between India and Pakistan over the weekend, signalling easing geopolitical tensions. Adding to the positive sentiment were encouraging updates on the US-China trade deal, which further boosted investor confidence as the session progressed,' Ajit Mishra – SVP, Research at Religare Broking Ltd, said. All sectoral indices ended higher. IT zoomed 6.75 per cent, BSE Focused IT (6.74 per cent), realty (5.87 per cent), metal (5.24 per cent), teck (5.21 per cent), utilities (5.07 per cent), power (4.82 per cent) and industrials (4.24 per cent). 'Indian equities made spectacular gains on Monday, with the Nifty soaring by a record 917 points to close at 24,925 – a seven-month high. The de-escalation in India-Pakistan tensions over the weekend has significantly helped calm investors' nerves and improve sentiments. 'On the global front, the US announced a headway in the trade negotiations with China, as both countries agreed to drastically roll back tariffs on each other's goods for an initial 90-day period,' Siddhartha Khemka, Head – Research, Wealth Management at Motilal Oswal Financial Services Ltd, said. As many as 3,545 stocks advanced while 576 declined and 133 remained unchanged on the BSE. PTI SUM SUM SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Business Recorder
08-05-2025
- Business
- Business Recorder
Indian shares set for muted start amid India-Pakistan tensions
India's benchmark indexes are likely to open little changed on Thursday amid escalating tensions with neighbour Pakistan and as the U.S. Federal Reserve said that risks of higher inflation and unemployment have risen due to the global trade war. The Gift Nifty futures were trading at 24,422, as of 7:52 a.m. IST, indicating the Nifty 50 will open around Wednesday's close of 24,414.4. Pakistan vowed to retaliate against Indian air strikes on Wednesday that came in the aftermath of an attack by Islamist militants on Hindu tourists that killed 26 people in Indian Kashmir last month. India told more than a dozen foreign envoys in New Delhi that 'if Pakistan responds, India will respond,' fuelling fears of a larger military conflict in one of the world's most dangerous - and most populated - nuclear flashpoint regions. Investors and analysts say the latest conflict between India and Pakistan may not severely impact New Delhi's efforts to pitch itself as a safe haven for foreign investors amid global economic turmoil. Foreign investors bought Indian shares for a fifteenth consecutive session on Wednesday, as per provisional data, marking their longest buying streak in two years. They have bought 450.55 billion rupees ($5.3 billion) of stocks in that period. 'While short-term fluctuations are expected, India's market resilience is evident. Investors should consider sectors aligned with government priorities, particularly defence and national security, which are likely to offer opportunities in the months ahead,' said Vikram Kasat, head - advisory at PL Capital. India's equity benchmarks end little changed after India strikes Pakistan Asian markets were also muted on Thursday, with the MSCI Asia ex Japan trading flat, after the Federal Reserve held interest rates steady as expected. The U.S. central bank said the risks of higher inflation and unemployment had risen, further clouding the U.S. economic outlook as its policymakers grapple with the impact of President Donald Trump's tariffs. Higher inflation in the U.S. may keep the Fed from cutting rates, which does not bode well for emerging markets like India.
