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The Print
6 hours ago
- Business
- The Print
Stock markets rebound after 3-day decline on buying in Reliance, HDFC Bank
The 50-share NSE Nifty climbed 140.20 points or 0.57 per cent to 24,821.10. The 30-share BSE Sensex jumped 446.93 points or 0.55 per cent to settle at 81,337.95. During the day, it surged 538.86 points or 0.66 per cent to 81,429.88. Mumbai, Jul 29 (PTI) Snapping the three-day losing run, benchmark BSE Sensex rebounded by nearly 447 points on Tuesday following value buying in blue-chip Reliance Industries and financial shares. Among Sensex firms, Reliance Industries rose the most by 2.21 per cent. Gains in HDFC Bank, Larsen & Toubro, Bharti Airtel and Tata Motors also aided the rally. Asian Paints, Adani Ports, Tata Steel, Maruti and Bajaj Finance were also among the gainers. However, Axis Bank, Tata Consultancy Services, Titan and ITC were among the laggards. 'Amidst lingering uncertainties over the ongoing US-India trade negotiations, the domestic equity market staged a modest recovery from intra-day lows. Investor sentiment remains cautious ahead of key global events, including policy decisions from the US Fed and the August 1 reciprocal tariff deadline. 'Sustenance of this rally is likely to be positive in the near term with an eye on the above details, including Q1 results and this week's monthly expiry,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE smallcap gauge jumped 1.10 per cent and midcap rallied 0.84 per cent. All BSE sectoral indices ended higher. Realty surged the most by 1.64 per cent, followed by telecommunication (1.50 per cent), energy (1.22 per cent), industrials (1.20 per cent), healthcare (1.15 per cent), commodities (1.05 per cent) and auto (0.92 per cent). As many as 2,486 stocks advanced while 1,515 declined and 154 remained unchanged on the BSE. 'Indian equities rebounded sharply on Tuesday, breaking a three-day losing streak as value buying and easing volatility lifted sentiment,' Gaurav Garg, Lemonn Markets Desk, said. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,082.47 crore on Monday, according to exchange data. The recovery in the Nifty was driven by oversold positions in heavyweight stocks, coupled with the presence of strong support at the 100-day EMA, Ajit Mishra – SVP, Research, Religare Broking Ltd, said. In Asian markets, Japan's Nikkei 225 index and Hong Kong's Hang Seng settled lower while South Korea's Kospi and Shanghai's SSE Composite index ended in positive territory. Markets in Europe were trading higher. The US markets ended on a mixed note on Monday. Global oil benchmark Brent crude climbed 0.63 per cent up to USD 70.48 a barrel. Stock markets declined for the third day on Monday. The Sensex tanked 572.07 points or 0.70 per cent to settle at 80,891.02 on Monday. The Nifty declined 156.10 points or 0.63 per cent to 24,680.90. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Economic Times
12 hours ago
- Business
- Economic Times
Market Wrap: Indian stocks snap 3-day losing run; Sensex rises 447 points, Nifty reclaims 24,800
Indian equities snapped a three-day losing streak on Tuesday, with the benchmark indices climbing as value buying in blue-chip names like Reliance Industries and HDFC Bank buoyed sentiment. Tired of too many ads? Remove Ads Top Gainers & Losers Tired of too many ads? Remove Ads Expert Views Indian equities snapped a three-day losing streak on Tuesday, with the benchmark indices climbing as value buying in blue-chip names like Reliance Industries and HDFC Bank buoyed sentiment and tempered concerns over persistent foreign outflows and delays in a potential trade deal with the United BSE Sensex rose 446.93 points, or 0.55%, to close at 81,337.95, while the NSE Nifty gained 140.20 points, or 0.57%, to settle at 24, market capitalization of all listed companies on the BSE increased by Rs 2.84 lakh crore to Rs 451.59 lakh of Reliance Industries, Larsen & Toubro, Asian Paints Adani Ports , and Tata Motors led the rebound on the 30-stock Sensex, each rising between 1.5% and 2.2%.The financials index, which slipped as much as 0.5% earlier in the session, reversed course to end 0.3% higher, with heavyweight HDFC Bank gaining 0.7%.Reliance Industries, the most valuable stock on the index, climbed 2.1%.Broader markets also participated in the rally, with the mid-cap and small-cap indices advancing 0.8% and 1%, & Toubro rose 2.1% ahead of its first-quarter earnings report due later in the day, while Asian Paints surged 1.8% after posting results that beat analyst Sensex and Nifty had dropped roughly 2% over the past three sessions, weighed down by weaker-than-expected earnings, continued foreign fund outflows, and waning optimism over an India-U.S. interim trade between New Delhi and Washington remain stalled, with U.S. President Trump warning Monday that countries failing to secure individual trade agreements with the U.S. could soon face tariffs of 15% to 20% on exports, significantly higher than the 10% levies imposed in lingering uncertainties over the ongoing U.S.–India trade negotiations, the domestic equity market staged a modest recovery from intraday lows and almost all the sectors ended in green, said Vinod Nair, Head of Research, Geojit Investments."Investor sentiment remains cautious ahead of key global events, including policy decisions from the U.S. Fed and the August 1 reciprocal tariff deadline. Sustenance of this rally is likely to be positive in the near term with an eye on the above details, including Q1 results and this week's monthly expiry. For the Nifty50 index, 25,000 to 25,100 is likely to act as a restriction at the upper end," said Nair.
Hans India
20 hours ago
- Business
- Hans India
Key indices slip to 2-mth low
Mumbai: Falling for the third straight session on Monday, benchmark Sensex tumbled by 572 points to close at nearly a two-month low due to heavy selling in Kotak Mahindra Bank, forex outflows and uncertainty related to the India-US trade deal. The 30-share BSE barometer tanked 572.07 points or 0.70 per cent to settle at 80,891.02, a level not seen since June 4. During the day, it slumped 686.65 points or 0.84 per cent to 80,776.44. The 50-share NSE Nifty declined 156.10 points or 0.63 per cent to close at a nearly two-month low of 24,680.90. As many as 35 Nifty shares declined, and 15 advanced. Analysts said disappointing quarterly results and continued selling by FIIs dragged stock markets down for the third session in a row. Nifty has tanked over 2 per cent or 539 points while Sensex retreated by 1,835 points or 2.2 per cent to trade at near two-month low levels. Among Sensex firms, Kotak Mahindra Bank tumbled the most by 7.31 per cent after the company reported a consolidated net profit of Rs 4,472 crore for the June quarter, and flagged stress on the retail commercial vehicle portfolio due to adverse macroeconomic conditions. The profit in the year-ago period was Rs 7,448 crore, but it had included gains of over Rs 3,000 crore on its stake sale in the general insurance arm, while the net profit for the March quarter stood at Rs 4,933 crore. Bajaj Finance dropped 3.64 per cent amid asset quality concerns, while Bharti Airtel fell by 2.35 per cent. Tata Consultancy Services dropped 1.76 per cent amid reports that the IT major has decided to lay off over 12,000 employees. Sources said that the IT Ministry is keeping a close watch on the entire situation and is in touch with the tech company over the matter. Titan, HCL Tech and State Bank of India were also among the laggards. However, Hindustan Unilever, Asian Paints, ICICI Bank, Power Grid, HDFC Bank and ITC were the gainers. 'Domestic market sentiment has remained cautious, weighed down by a disappointing set of Q1 earnings, delays in the India-US trade agreement, and continued FII outflows. In contrast, global markets remain broadly positive, supported by US-EU trade developments that are perceived as less concerning than anticipated. 'The upcoming monetary policy decisions from the Fed and BoJ, along with the trajectory of domestic quarterly earnings, are expected to play a pivotal role in shaping market direction in the near term,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE smallcap gauge tumbled 1.31 per cent and midcap index fell by 0.73 per cent. Among BSE sectoral indices, realty tanked 4.11 per cent, followed by telecommunication (1.56 per cent), capital goods (1.49 per cent), BSE industrials (1.40 per cent), teck (1.21 per cent) and metal (1.06 per cent).
The Print
a day ago
- Business
- The Print
Sensex, Nifty tumble for 3rd day, dragged by Kotak Bank, US trade deal uncertainty
The 50-share NSE Nifty declined 156.10 points or 0.63 per cent to close at a nearly two-month low of 24,680.90. As many as 35 Nifty shares declined, and 15 advanced. The 30-share BSE barometer tanked 572.07 points or 0.70 per cent to settle at 80,891.02, a level not seen since June 4. During the day, it slumped 686.65 points or 0.84 per cent to 80,776.44. Mumbai, Jul 28 (PTI) Falling for the third straight session on Monday, benchmark Sensex tumbled by 572 points to close at nearly a two-month low due to heavy selling in Kotak Mahindra Bank, forex outflows and uncertainty related to the India-US trade deal. Analysts said disappointing quarterly results and continued selling by FIIs dragged stock markets down for the third session in a row. Nifty has tanked over 2 per cent or 539 points while Sensex retreated by 1,835 points or 2.2 per cent to trade at near two-month low levels. Among Sensex firms, Kotak Mahindra Bank tumbled the most by 7.31 per cent after the company reported a consolidated net profit of Rs 4,472 crore for the June quarter, and flagged stress on the retail commercial vehicle portfolio due to adverse macroeconomic conditions. The profit in the year-ago period was Rs 7,448 crore, but it had included gains of over Rs 3,000 crore on its stake sale in the general insurance arm, while the net profit for the March quarter stood at Rs 4,933 crore. Bajaj Finance dropped 3.64 per cent amid asset quality concerns, while Bharti Airtel fell by 2.35 per cent. Tata Consultancy Services dropped 1.76 per cent amid reports that the IT major has decided to lay off over 12,000 employees. Sources said that the IT Ministry is keeping a close watch on the entire situation and is in touch with the tech company over the matter. Titan, HCL Tech and State Bank of India were also among the laggards. However, Hindustan Unilever, Asian Paints, ICICI Bank, Power Grid, HDFC Bank and ITC were the gainers. 'Domestic market sentiment has remained cautious, weighed down by a disappointing set of Q1 earnings, delays in the India-US trade agreement, and continued FII outflows. In contrast, global markets remain broadly positive, supported by US-EU trade developments that are perceived as less concerning than anticipated. 'The upcoming monetary policy decisions from the Fed and BoJ, along with the trajectory of domestic quarterly earnings, are expected to play a pivotal role in shaping market direction in the near term,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE smallcap gauge tumbled 1.31 per cent and midcap index fell by 0.73 per cent. Among BSE sectoral indices, realty tanked 4.11 per cent, followed by telecommunication (1.56 per cent), capital goods (1.49 per cent), BSE industrials (1.40 per cent), teck (1.21 per cent) and metal (1.06 per cent). FMCG and utilities were the gainers. A total of 2,874 stocks declined while 1,264 advanced and 161 remained unchanged on the BSE. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,979.96 crore on Friday, according to exchange data. In Asian markets, Japan's Nikkei 225 index settled lower while South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng ended in positive territory. Markets in Europe were trading in the green. The US markets ended higher on Friday. Global oil benchmark Brent crude climbed 0.91 per cent to USD 69.05 a barrel. The rupee pared initial gains and settled 15 paise lower at 86.67 (provisional) against the US dollar due to month-end dollar demand from importers. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hans India
a day ago
- Business
- Hans India
Indian stock market settles in negative territory amid selling pressure, FII outflow
Mumbai: The Indian stock market continued its downward momentum as it ended lower on Monday amid a potential delay in the India-US trade agreement and continued FII outflow. Sensex closed at 80,891.02, down 572.07 points or 0.70 per cent. The 30-share index began the session in the negative territory at 81,299.97 against the last day's closing of 81,463.09. The index dragged down further to touch an intraday low at 80,776.44 amid selling in heavyweights, especially in the IT sector. Nifty settled at 24,680.90, down 156.10 or 0.63 per cent. "Domestic market sentiment has remained cautious, weighed down by a disappointing set of Q1 earnings, delays in the India-US trade agreement, and continued FII outflows," said Vinod Nair, Head of Research, Geojit Investments Limited. In contrast, global markets remain broadly positive, supported by the US-EU trade developments that are perceived as less concerning than anticipated, Nair added. The upcoming monetary policy decisions from the Fed and Bank of Japan, along with the trajectory of domestic quarterly earnings, are expected to play a pivotal role in shaping market direction in the near term. Kotak Bank, Bajaj Finance, Bharati Airtel, Titan, TCS, HCL Tech, SBI, Tata Steel, Eternal, Axis Bank, and Mahindra and Mahindra were top losers among the Sensex basket. Hindustan Unilever, Asian Paints, and ICICI Bank ended the session in green. Broader indices also experienced the heat of selling pressure. Nifty 100 fell 157 points or 0.62 per cent, Nifty Midcap 100 dropped 490 points or 0.84 per cent, and Nifty Smallcap 100 settled 229 points or 1.26 per cent. Sectoral indices followed suit as well. Bank Nifty fell 444 Points, Nifty Fin Service closed 192 points down, Nifty IT dropped 253 points, and Nifty Auto ended the session 88 points down. Rupee traded weak by 0.10 per cent at 86.65 as weakness in capital markets weighed on sentiment. The week ahead is expected to remain volatile with key global triggers including the 1st August trade deal deadline with the U.S., along with major U.S. data releases. The rupee is likely to trade in a range of 86.25–86.90," said Jateen Trivedi of LKP Securities.
