Sensex opens 382 points higher, Nifty above 25,100; Axis Bank gains over 1%
"But this is not sufficient to sustain the rally triggered on Friday. More important is the trend in earnings growth. Q4 results indicate better earnings growth for midcaps. But large and small caps continue to struggle," he added.Kotak Mahindra Bank led the charge on Sensex, surging 2.49%, followed by Bajaj Finance which jumped 1.26%. Axis Bank also opened strongly, climbing 1.26%, while Infosys rose 1.08%. Tata Motors rounded out the top five gainers with an increase of 1.05%.However, some stocks faced selling pressure as trading commenced. Bharti Airtel was the worst performer in early trade, declining 0.91%, while ICICI Bank retreated 0.54%.Adani Ports and Special Economic Zone also opened lower, falling 0.29%, and Asian Paints dropped 0.26%. Nestle India completed the list of top five losers with a decline of 0.19%.advertisementThe sectoral indices on NSE opened with broad-based gains in early trade. Nifty Midcap 100 rose 0.77% and Nifty Smallcap gained 0.85%. The India VIX jumped 2.40%, showing increased volatility as trading began.All sectors opened in positive territory, showing strong market sentiment. Nifty PSU Bank was the top performer, climbing 1.19%, followed by Nifty IT gaining 1.09% and Nifty Smallcap 100 at 0.85%.Other gainers included Nifty Media rising 0.79%, Nifty Private Bank advancing 0.75%, Nifty Auto up 0.61%, Nifty Financial Services gaining 0.50%, Nifty Consumer Durables rising 0.37%, Nifty Metal advancing 0.31%, Nifty Oil & Gas up 0.26%, Nifty Healthcare gaining 0.25%, Nifty Pharma rising 0.21% and Nifty FMCG up 0.10%.Only one sector opened lower. Nifty Realty declined 0.08%."FY 26 earnings are unlikely to reach mid teens, which is necessary for the market to remain resilient and move up. Market needs signs of revenue and earnings acceleration to move up. In the absence of such indicators the present Nifty range is likely to move up marginally to 24500 -25500," said Vijayakumar.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
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Time of India
31 minutes ago
- Time of India
Central banks are building a haven of bullion assets
MUMBAI: Central bank gold appetite, although not as voracious as the 1,000-tonne-a-year purchases in the past three calendar years, remains largely undiminished globally as this group of institutional buyers diversifies its asset base beyond the customary dollar-denominated holdings in a world increasingly strewn with tariff snags. Central banks net bought 166 tonnes of gold in three months to June, 33% lower quarter-on-quarter, World Gold Council (WGC) data showed. While this is the lowest quarterly number since June 2022, it is 41% higher than the average quarterly level seen between 2010 and 2021, before buying ramped up sharply in more recent years, WGC data showed. Explore courses from Top Institutes in Please select course: Select a Course Category For the first half (H1) of 2025, the number stood at 415 tonnes compared to 525 tonnes in year ago. This is also the lowest first half since 2022. Elevated gold prices amid destabilising economic and geopolitical environment has likely contributed to the slowdown in central bank buying, WGC said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Puerto Plata: Bathroom Remodeling Trends in 2025 May Surprise You Bathroom Remodeling | Search Ads Search Now Undo According to Madhavankutty G , chief economist at Canara Bank, the central banks' gold purchases fit perfectly into the de-dollarisation theme, where countries want to diversify their foreign exchange reserves. Though the dollar is still dominant in FX reserves, its share is coming down drastically, with gold benefiting from this shift. "The added benefit of gold is also the safety aspect. The US tariffs have increased the geopolitical as well as global economic uncertainty, which in turn is expected to keep gold prices elevated. Historically, US Treasury yields and gold prices were inversely related. That relationship has broken now. So even as yields are expected to remain above 4.30%, gold demand prices may also remain high," he said. Live Events Although central banks typically are strategic buyers of gold, they are not completely insensitive to its price level. "But that they continue to add gold in the face of a higher price underscores their continuing favourable attitudes towards gold as a strategic asset amid such uncertainty," it said. According to WCG, the longer-term trend of central banks taking advantage of gold's diversification properties and reallocating from US assets to gold remains intact. The Reserve Bank of India (RBI) bought nearly half a tonne of gold in the last week of June after a relatively conservative spell of bullion shopping in the current fiscal year, ET reported earlier. The RBI 's outstanding stock of gold amounted to nearly 880 tonnes as of June 27. Its share in India's foreign exchange reserves climbed to 12.1% as of July 18, 2025, from 8.9% as of July 19, 2024. WGC's Central Bank Gold Reserves Survey 2025 revealed that 95% expect gold reserves to increase over the next 12 months. The results of the survey, which collected data from 73 of the world's central banks, were published in mid-June. The National Bank of Poland was the largest buyer of gold, adding 19 tonnes to its gold reserves in the June quarter, while China's reported purchases amounted to 6 tonnes, half of what it bought in the March quarter. China's gold reserves now stand at 2,299 tonnes, WCG data showed.
Time of India
2 hours ago
- Time of India
Retd ACP duped of Rs 94L by ‘fake' investment firm
Berhampur: A retired assistant commissioner of police (ACP) from New Delhi and his family members were allegedly duped of around Rs 94 lakh after they invested in a private firm in silk city two years ago, which turned out to be fake. A case was registered against the firm's owner at Baidyanathpur police station on Thursday after K S N Subudhi, the retired ACP, filed a complaint. Subudhi, a resident of Ganesh Nagar here, invested around Rs 50 lakh in Nov 2023 after discussing it with his relatives, including his son, who had already invested Rs 43.99 lakh in the firm in 2022. Before investing the money he received after retirement, Subudhi visited the firm's office in Jyoti Nagar, and held a discussion with the owner. The firm's owner told Subudhi that they followed all the guidelines of Reserve Bank of India (RBI) and conducted financial transactions with several banks. He also requested Subudhi to invest in the company to earn a commission. Immediately after his investment, Subudhi started receiving a weekly commission after the deduction of TDS for a few weeks. But the firm suddenly stopped paying commission, citing bank problems, and assured him that payments would resume after the issue was resolved. The accused assured Subudhi that all the deposits were safe. From Jan last year, Subudhi could not reach him on phone. The firm's owner also did not respond to his messages requesting the return of the money. After some days, Subudhi learned that the accused had fled to an unknown destination, siphoning off the money of all investors. As there was no response to his calls and messages, Subudhi realised that the firm's owner had cheated him and his family members of their hard-earned money, leading him to lodge a police complaint. SP (Berhampur) Saravana Vivek M said that earlier they had registered at least five cheating cases against the accused in different police stations. In one case, one of his associates was arrested. Several attempts have been made to arrest him, but he managed to escape. "Search efforts have been intensified to nab the accused," he added.
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Business Standard
2 hours ago
- Business Standard
₹2,000 notes worth ₹6,017 crore still in circulation, shows RBI data
The high-value Rs 2,000 notes worth Rs 6,017 crore are still in circulation even after more than two years of the Reserve Bank withdrawing the currency, according to official data released on Friday. Rs 2,000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination banknotes from circulation. In a statement, the RBI said the total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 trillion at the close of business on May 19, 2023 has declined to Rs 6,017 crore at the close of business on July 31, 2025. "Thus, 98.31 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned," it said. The facility for exchange of the Rs 2,000 banknotes is available at the 19 issue offices of the Reserve Bank since May 19, 2023. From October 9, 2023, RBI Issue Offices are also accepting Rs 2,000 banknotes from individuals/entities for deposit into their bank accounts. Further, members of the public are sending Rs 2,000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts. The issue offices are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
