Markets fall in early trade after 4-day rally dragged by bank stocks
The 30-share BSE Sensex slipped 182.77 points to 83,876.13 in early trade. The 50-share NSE Nifty dropped 46.25 points to 25,591.55.
From the Sensex firms, Mahindra & Mahindra, Bharti Airtel, NTPC, HDFC Bank, Kotak Mahindra Bank and Axis Bank were among the laggards.
However, Larsen & Toubro, Trent, State Bank of India and Eternal were among the gainers.
In the past four trading days, the Sensex jumped 2,162.11 points or 2.64% and the Nifty surged 665.9 points or 2.66%.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index were trading in the positive territory while Hong Kong's Hang Seng quoted lower.
The U.S. markets ended higher on Friday (June 27, 2025).
Foreign Institutional Investors (FIIs) bought equities worth ₹1,397.02 crore on Friday (June 27, 2025), according to exchange data.
Global oil benchmark Brent crude dipped 0.24% to $67.61 a barrel.
On Friday, the Sensex climbed 303.03 points or 0.36% to reclaim the 84,000 level and settle at 84,058.90. On the similar lines, the Nifty rose 88.80 points or 0.35%t to 25,637.80.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
42 minutes ago
- Mint
Saraswat Bank proposes to acquire fraud-hit New India Cooperative Bank, approaches RBI: Should NICB depositors worry?
Saraswat Bank, India's largest urban cooperative bank, has announced on Tuesday that it plans to merge the crisis-hit New India Cooperative Bank (NICB) with itself. Saraswat Bank's chairman Gautam Thakur has assured that there will not be any haircut for any of the over 1.22 lakh depositors of fraud-hit NICB, and all the savings will be protected, PTI reported. Depositor protection and access to funds Currently, the NICB depositors face withdrawal limits of ₹25,000 per account due to the crisis. Once the merger is finalised, depositors will be able to access the full amount, Thakur said, adding that he expects the merger to complete by end-September. Thakur also said the bank has no immediate plans to convert into a commercial lender, and is keen to continue working as a cooperative bank. However, he indicated that the bank might consider becoming a universal bank whenever the statutes permit, he said. Merger timeline and process "We have voluntarily approached the RBI for the merger of Saraswat with NICB," Thakur said. Saraswat Bank has merged seven crisis-hit banks with itself in the past and showed confidence that the merger with NICB will also go through. Also Read | Credit score can affect your job prospects: SBI case highlights key lessons After the shareholder nod, both banks will go to the RBI for clearance, and the central bank will announce an effective date for the merger. In this process, the shareholders of NICB will be given shares in Saraswat Bank in a predetermined ratio. NICB's financial status and turnaround strategy NICB has been under an RBI-appointed administrator since February due to an alleged ₹122 crore embezzlement of funds by top management. As of March 2025, the bank held over ₹1,100 crore in assets, Thakur told PTI. Stressing that not every loan made by NICB is an NPA, Thakur is confident that Saraswat, with an asset size exceeding ₹36,000 crore, will absorb the impact of the merger. Also Read | Asian Banks Fuel More Than $2 Billion Loan Boom in Middle East Thakur estimated that it will take around 18-24 months to turn around NICB. What will happen to NICB employees? According to Thakur, the bank will absorb as many of the 200 remaining NICB employees after evaluating them. However, any employees associated with the fraud will not be retained. NICB has 27 branches, including 17 in Mumbai, whereas Saraswat Bank has 120 branches in the city, including 30 which have come from banks merged in the past, the news agency reported.
The Print
an hour ago
- The Print
Stock markets close higher on buying in Reliance, HDFC Bank
The 50-share NSE Nifty gained 24.75 points or 0.10 per cent to close at 25,541.80. The 30-share BSE Sensex rose by 90.83 points or 0.11 per cent to settle at 83,697.29 with 13 of its constituents closing higher and 17 in the red. During the day, it rallied 267.83 points or 0.32 per cent to 83,874.29. Mumbai, Jul 1 (PTI) Benchmark stock indices Sensex and Nifty closed higher in a range-bound trade on Tuesday, helped by gains in index heavyweight Reliance Industries and HDFC Bank. Among Sensex firms, Bharat Electronics was the lead gainer, rising by 2.51 per cent after the company announced securing orders worth Rs 528 crore. Reliance Industries advanced 1.84 per cent as analysts expressed optimism over the launch of a solar manufacturing facility. Asian Paints, UltraTech Cement, Kotak Mahindra Bank and HDFC Bank were also among the major gainers. Axis Bank, Trent, Eternal and Tech Mahindra were among the laggards. 'Markets traded lacklustre and ended almost unchanged, taking a breather after Monday's decline. Following an initial uptick, the Nifty moved in a narrow range and eventually settled at 25,541.80. Buoyancy in global markets—especially the US—along with stable domestic cues suggests that the prevailing trend is likely to continue,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. The BSE smallcap gauge dipped 0.18 per cent and midcap index dipped 0.07 per cent. Among BSE sectoral indices, telecommunication rose by 0.52 per cent, energy by 0.46 per cent, consumer durables by 0.43 per cent and metal by 0.30 per cent. FMCG declined 0.68 per cent, power (0.41 per cent), utilities (0.32 per cent), IT (0.24 per cent) and BSE Focused IT (0.25 per cent). As many as 2,025 stocks advanced while 1,985 declined and 154 remained unchanged on the BSE. 'Domestic indices traded within a narrow range, following last week's strong rally. Investors are closely monitoring developments, seeking clarity on U.S. tariffs as the 90-day pause approaches its end,' Vinod Nair, Head of Research, Geojit Investments Limited, said. In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index settled in the positive territory while Japan's Nikkei 225 index ended lower. Markets in Hong Kong were closed. European markets were trading mostly lower. The US markets ended higher on Monday. Global oil benchmark Brent crude dipped 0.22 per cent to USD 66.56 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 831.50 crore on Monday, according to exchange data. On Monday, the Sensex dropped 452.44 points or 0.54 per cent to settle at 83,606.46. The Nifty declined 120.75 points or 0.47 per cent to 25,517.05. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Economic Times
an hour ago
- Economic Times
ET Market Watch: Sensex gains 90 pts, Nifty holds 25,500 ahead of US tariff deadline
Transcript Hi, you're listening to ET Markets Radio, I am your host, Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it:Sensex gained 90 points. Nifty held above 25, stayed cautious as US trade talks Tuesday, Indian markets edged higher, tracking gains in closed at 83,697, up 0.11%Nifty at 25,541, up 0.1%Gains were capped by weak financials and trade deal jitters ahead of Trump's July 9 tariff Moves & Stock HighlightsReliance rose 1.8% after Nuvama raised its target to ₹1,801, citing new energy Electronics, Asian Paints, UltraTech Cement, and Kotak Bank gained up to 2.5%.Financials eased 0.2% for a second day, but PSU banks outperformed, Nifty PSU Bank up 0.7%.Key MoversApollo Hospitals surged 3.5% after announcing a spin-off of its digital and pharmacy Industries plunged another 5.6%, extending its two-day loss to over 17% after the Telangana plant ViewsKotak Securities said markets showed lacklustre activity, forming a narrow-range resistance: 25,600 on Nifty, 83,900 on SensexKey support: 25,470 / 83,500HDFC Securities sees higher highs on charts, with a breakout above 25,700 likely taking Nifty to 26,000+.Global Cues & RupeeAsian stocks rose as US trade talks and a $3.3 trillion spending bill hung in the balance. Rupee firmed up 0.3% to 85.52 against the held steady, Brent at $66.79, WTI at $ stayed range-bound, but positioning hints at a breakout, with trade talks, earnings, and global data in focus.
