Sensex declines 170.66 points; Nifty dips 53.75 points in early trade
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Business Standard
35 minutes ago
- Business Standard
Benchmarks trade with small cuts; metal shares slide
The frontline indices continued to trade with minor losses in the mid-morning trade, as investors assessed US Treasury Secretary Scott Bessents comments that tariffs will be enforced starting 1 August for countries that have not finalized an agreement with the Trump administration. The Nifty traded below the 25,500 level. Metal shares extended losses for the third consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 39.13 points or 0.05% to 83,391.69. The Nifty 50 index lost 6.75 points or 0.03% to 25,454.25. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.09% and the S&P BSE Small-Cap index fell 0.30%. The market breadth was negative. On the BSE, 1,745 shares rose and 2,062 shares fell. A total of 212 shares were unchanged. Economy: Indias foreign exchange reserves rose by $4.84 billion to $702.78 billion in the week ended June 27, the Reserve Bank of India (RBI) said on Friday, July 4. Foreign currency assets surged by $5.75 billion to $594.82 billion. Gold reserves fell by $1.23 billion to $84.5 billion during the reported week, while special drawing rights (SDRs) rose by $158 million to $18.83 billion. Indias reserve position with the International Monetary Fund (IMF) also increased by $176 million to $4.62 billion, central bank data showed. IPO Update: The initial public offer (IPO) of Travel Food Services received bids for 4,72,290 shares as against 1,34,12,842 shares on offer, according to stock exchange data at 11:13 IST on Monday (7 July 2025). The issue was subscribed 0.04 times. The issue opened for bidding on Monday (7 July 2025) and it will close on Wednesday (9 July 2025). The price band of the IPO is fixed between Rs 1,045 and 1,100 per share. An investor can bid for a minimum of 13 equity shares and in multiples thereof. Buzzing Index: The Nifty Metal index shed 0.66% to 9,516.70. The index declined 1.88% in three consecutive trading sessions. Welspun Corp (down 1.38%), National Aluminium Company (down 1.26%), Hindalco Industries (down 0.94%), Lloyds Metals & Energy (down 0.88%) and Hindustan Zinc (down 0.84%), Steel Authority of India (down 0.84%), Vedanta (down 0.76%), Jindal Stainless (down 0.61%), NMDC (down 0.49%) and Hindustan Copper (down 0.45%) fell. On the other hand, APL Apollo Tubes (up 0.83%), JSW Steel (up 0.23%) and Jindal Steel & Power (up 0.1%) edged higher. Stocks in Spotlight: DCX Systems gained 3.86% after the company announced it had received an industrial license to manufacture high-end defence electronics. Keystone Realtors added 1.98% after the company announced that its collections jumped 19% to Rs 575 crore in Q1 FY26, compared to Rs 485 crore recorded in Q1 FY25. Global Markets: US Dow Jones futures were down 128 points, signaling a weak start for Wall Street. Asian equities also traded lower amid continued uncertainty surrounding US trade policy. President Donald Trump confirmed that the "reciprocal" tariffs announced in April will take effect on August 1 for countries that have not reached a trade agreement with the US. US Treasury Secretary Scott Bessent reiterated that the tariffs introduced in April will be enforced starting August 1. While he clarified that this date does not represent a new deadline, he noted it may provide additional time for trade partners to renegotiate terms. The Reserve Bank of Australia has commenced its two-day policy meeting, with markets widely expecting a 25 basis point rate cut, which would bring the benchmark rate down to 3.60%. On Thursday, US equity indices closed at record highs, supported by optimism that the administration may again delay the imposition of tariffs. The S&P 500 gained 0.8%, the NASDAQ Composite advanced 1%, and the Dow Jones Industrial Average rose 0.8%. U.S. market was closed Friday for the Independence Day holiday. Strength in technology stocks also contributed to the rally, with continued investor interest in major artificial intelligence firms such as Nvidia. Meanwhile, the US economy added 147,000 nonfarm payroll jobs in June, while the unemployment rate held steady at 4.1%, according to the Bureau of Labor Statistics. The labor market data suggests underlying resilience, prompting a reduction in expectations for imminent rate cuts.
Business Standard
36 minutes ago
- Business Standard
CESC Ltd spurts 1.43%, up for five straight sessions
CESC Ltd is quoting at Rs 181.16, up 1.43% on the day as on 12:44 IST on the NSE. The stock is up 5.28% in last one year as compared to a 4.64% gain in NIFTY and a 14.45% gain in the Nifty Energy. CESC Ltd rose for a fifth straight session today. The stock is quoting at Rs 181.16, up 1.43% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.04% on the day, quoting at 25450.2. The Sensex is at 83377.33, down 0.07%. CESC Ltd has added around 6.47% in last one month. Meanwhile, Nifty Energy index of which CESC Ltd is a constituent, has added around 0.36% in last one month and is currently quoting at 36509.6, down 0.07% on the day. The volume in the stock stood at 26.23 lakh shares today, compared to the daily average of 34.49 lakh shares in last one month. The benchmark July futures contract for the stock is quoting at Rs 182, up 1.3% on the day. CESC Ltd is up 5.28% in last one year as compared to a 4.64% gain in NIFTY and a 14.45% gain in the Nifty Energy index. The PE of the stock is 29.58 based on TTM earnings ending March 25.
Business Standard
36 minutes ago
- Business Standard
Market trade near flat line; FMCG shares jump
The domestic equity indices continued to trade with minor losses in the early afternoon trade, as investors engaged in mild profit booking amid uncertainty surrounding the India-US trade deal. Market participants will monitor upcoming earnings seasons, India-US trade deal and tariffs situation. Nifty traded at 25,450 mark. FMCG shares witnessed buying demand for third consecutive trading session. At 12:25 IST, the barometer index, the S&P BSE Sensex declined 32.30 points or 0.04% to 83,396.45. The Nifty 50 index lost 12.40 points or 0.04% to 25,450.00. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.22% and the S&P BSE Small-Cap index fell 0.44%. The market breadth was negative. On the BSE, 1,745 shares rose and 2,062 shares fell. A total of 212 shares were unchanged. Economy: Indias foreign exchange reserves rose by $4.84 billion to $702.78 billion in the week ended June 27, the Reserve Bank of India (RBI) said on Friday, July 4. Foreign currency assets surged by $5.75 billion to $594.82 billion. Gold reserves fell by $1.23 billion to $84.5 billion during the reported week, while special drawing rights (SDRs) rose by $158 million to $18.83 billion. Indias reserve position with the International Monetary Fund (IMF) also increased by $176 million to $4.62 billion, central bank data showed. India-US Trade Deal Update: Despite prolonged negotiations, there remains uncertainty over the finalization of a trade deal between India and the US. India and the US are actively engaged in trade negotiations as the July 9 deadline looms. If a deal is not reached by then, Indian exports to the US could face a total tariff of 36 per cent (10% baseline tariffs plus 26% reciprocal tariffs). Trump has indicated that the deadline may not be extended. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2.21% to 12.59. The Nifty 31 July 2025 futures were trading at 25,514.30, at a premium of 64.3 points as compared with the spot at 25,450.00. The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 49.1 lakh contracts at the 26,000 strike price. Maximum put OI of 66.3 lakh contracts was seen at 25,000 strike price. Buzzing Index: The Nifty FMCG index increased 1.61% to 55,615.75. The index jumped 2.16% in three consecutive trading sessions. Godrej Consumer Products (up 5.54%), Dabur India (up 4.3%), Emami (up 3.39%), Hindustan Unilever (up 2.74%), Colgate-Palmolive (India) (up 1.32%), Varun Beverages (up 1.17%), Marico (up 1.13%), Tata Consumer Products (up 1.13%), ITC (up 0.97%) and Britannia Industries (up 0.78%) advanced. Stocks in Spotlight: Info Edge (India) declined 4.16%. The company reported an 11.18% year-on-year increase in standalone billings to Rs 644.2 crore for the quarter ended 30 June 2025, compared with Rs 579.4 crore recorded in the same period last year. Jubilant FoodWorks fell 3.78%. The company said that the companys consolidated revenue from operations was at Rs 2,261.4 crore in Q1 FY26, marking a 17% year-on-year (YoY) jump.
