Barometers trade with modest losses; Europen Mrkt declines

Business Standard

a day ago

The domestic equity benchmarks traded with moderate losses in afternoon trade. The Nifty traded below the 25,100 level. IT, private bank and bank shares declined while realty, media and healthcare shares advanced.
At 13:30 IST, the barometer index, the S&P BSE Sensex declined 369.39 points or 0.43% to 82,131.16. The Nifty 50 index lost 93.55 points or 0.38% to 25,056.30.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.53% and the S&P BSE Small-Cap index added 0.34%.
The market breadth was negative. On the BSE, 1,900 shares rose and 2,178 shares fell. A total of 172 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2% to 12.06.
Economy:
India's forex reserves dropped by $3.049 billion to $699.736 billion in the week ended July 4, the RBI said on Friday.
For the week ended July 4, foreign currency assets, a major component of the reserves, dropped by $3.537 billion to $591.287 billion, the data released on Friday showed.
The gold reserves were up by $342 million to $84.846 billion during the week, the RBI said.
India's reserve position with the IMF jumped by $107 million to $4.735 billion in the reporting week, the apex bank data showed.
Meanwhile, the wholesale price index (WPI) eased to -0.13% in June 2025, according to data released by the Commerce and Industry ministry on Monday.
Since March the WPI has been declining steadily, hitting a 14-month-low of 0.39% in the previous month.
Gainers & Losers:
Eternal (up 3.59%), Sun Pharmaceutical Industries (up 1.36%), Adani Enterprises (up 0.77%), Titan Company (up 0.76%) and IndusInd Bank (up 0.76%) were the major Nifty50 gainers.
Wipro (down 2.25%), Tech Mahindra (down 2.13%), Jio Financial Services (down 2.12%), Infosys (down 2.06%) and Tata Consultancy Services (down 1.64%) were the major Nifty50 Losers.
Stocks in Spotlight:
Avenue Supermarts (Dmart) shed 0.81%. The companys consolidated net profit fell 0.11% to Rs 772.97 crore despite a 16.28% jump in revenue from operations to Rs 16,359.70 crore in Q1 FY26 over Q1 FY25.
Castrol India advanced 2.39% after winning a Rs 4,131 crore MVAT tax case against the Maharashtra Sales Tax Department.
Sula Vineyards shed 0.85%. The company reported a 7.9% fall in net revenue to Rs 118.3 crore in Q1 FY26 as against Rs 128.4 crore recorded in Q1 FY25.
Kolte-Patil Developers slipped 0.66%. The company has reported a 13.3% decline in sales value to Rs 616 crore in the first quarter of FY26, down from Rs 711 crore recorded in the same quarter last year.
Desco Infratech hit an upper circuit of 5% after the company announced that it has secured multiple orders totaling Rs 9.53 crore.
Global Markets:
US Dow Jones futures dropped 267 points, hinting at a weak start for Wall Street today.
Most European shares declined on Monday after U.S. President Donald Trump threatened a 30% tariff on the European Union, which would practically eradicate trade between the two economic powers.
Asian equities traded higher on Monday as markets weighed the impact of fresh trade tariff announcements by U.S. President Donald Trump. Investor attention also turned toward a string of key economic data releases from China expected this week.
In Japan, core machinery orders slipped 0.6% in May on a month-on-month, seasonally adjusted basis, according to the Cabinet Office. However, on a year-on-year basis, orders rose 4.4%, outperforming the 3.4% growth forecast by analysts, as per LSEG data.
Singapores economy delivered a better-than-expected performance in the second quarter, growing 4.3% year-on-year compared to 3.9% in the previous quarter. On a quarterly basis, GDP expanded 1.4%, marking a strong rebound from the 0.5% contraction seen earlier.
Tensions flared over the weekend as President Trump unveiled new 30% tariffs on imports from Mexico and the European Union, effective August 1, 2025. This follows an aggressive series of levies in the past week targeting Japan, South Korea, Canada, Brazil, and a 50% duty on all copper imports.
Leaders from the EU and Mexico signaled their intention to continue negotiations with the U.S. administration in hopes of securing lower tariff rates before the new duties kick in.
Wall Street ended lower on Friday as trade anxieties mounted. The Dow Jones Industrial Average dropped 0.63%, the S&P 500 shed 0.33%, and the NASDAQ Composite eased 0.22%, following Trumps threat of a 35% tariff on Canadian goods.