Latest news with #WealthmillsSecurities
Business Recorder
2 days ago
- Business
- Business Recorder
India shares stumble on trade uncertainty
MUMBAI: Indian shares declined on Thursday as lingering uncertainty around the US-China trade deal and mounting geopolitical tensions in the Middle East dented risk appetite. The Nifty 50 fell 1.01% to 24,888.2, snapping a six-session winning streak, while the BSE Sensex lost 1% to 81,691.98. The broader small-caps and mid-caps both fell 1.8% and 1.6%. All the 13 major sectors logged losses. Global sentiment weakened despite US President Donald Trump claiming a tariff framework with China had been reached as the absence of concrete terms kept markets on edge. 'Markets remain trapped in a fog of mixed signals-no final draft, and Trump's shifting goalposts,' said Kranthi Bathini, director of equity strategy at Wealthmills Securities. 'The inconsistency and unreliability from the US, coupled with rising geopolitical tensions in the Middle East kept investors risk averse,' added Bathini Geopolitical concerns escalated after Iran said it will strike US bases in the Middle East if nuclear talks fail and conflict arises with Washington.
Business Recorder
2 days ago
- Business
- Business Recorder
India shares stumble on trade uncertainty, Middle East tensions
Indian shares declined on Thursday as lingering uncertainty around the U.S.-China trade deal and mounting geopolitical tensions in the Middle East dented risk appetite. The Nifty 50 fell 1.01% to 24,888.2, snapping a six-session winning streak, while the BSE Sensex lost 1% to 81,691.98. The broader small-caps and mid-caps both fell 1.8% and 1.6%. All the 13 major sectors logged losses. Global sentiment weakened despite U.S. President Donald Trump claiming a tariff framework with China had been reached as the absence of concrete terms kept markets on edge. 'Markets remain trapped in a fog of mixed signals-no final draft, and Trump's shifting goalposts,' said Kranthi Bathini, director of equity strategy at Wealthmills Securities. Boeing shares fall 8% after Air India plane crashes 'The inconsistency and unreliability from the U.S., coupled with rising geopolitical tensions in the Middle East kept investors risk averse,' added Bathini Geopolitical concerns escalated after Iran said it will strike U.S. bases in the Middle East if nuclear talks fail and conflict arises with Washington. In response, U.S. said it was moving some personnel out of the Middle East because 'it could be a dangerous place.' Analysts warned that rising security threats could push Brent crude prices higher—a negative for India's import-heavy economy. Domestic markets saw further declines after an Air India plane with 242 passengers crashed minutes after taking off from Ahmedabad in the Eastern Indian state of Gujarat. Airline operators Interglobe Aviation and SpiceJet lost 2.7% and 1.8% on the day. Such incidents can shock investors, amplifying near-term caution and disrupting an already fragile sentiment, said two traders. Among individual stocks, Paytm fell 6.8% after finance ministry refuted reports claiming the introduction of merchant discount rate (MDR) on UPI transactions. Investors now await the consumer inflation data for May, which is due after markets close. A Reuters poll projects inflation to have eased to a six-year low of 3% on a favorable base and softening food prices.
