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Time of India
10 minutes ago
- Time of India
Sensex falls over 100 pts, Nifty below 24,700 amid US trade deal jitters
Indian equity benchmarks experienced a decline for the fourth consecutive session, influenced by uncertainties surrounding a delayed interim trade agreement with the U.S. and continuous foreign fund outflows. Weak corporate earnings further contributed to the downward pressure. Investor sentiment remains fragile amidst geopolitical and economic concerns, with specific stocks like Bharat Electronics and Infosys facing losses. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Experts View Global Markets Tired of too many ads? Remove Ads FII/DII Tracker Indian equity benchmarks opened lower for the fourth consecutive session on Tuesday, weighed down by uncertainty over a delayed interim trade deal with the United States, continued foreign fund outflows, and weak corporate 9:24 am, the BSE Sensex was down 117 points, or 0.15%, at 80,73, while the Nifty50 declined 36 points, or 0.15%, to 24, portfolio investors (FPIs) offloaded Indian equities worth Rs 6,081 crore ($700.92 million) on Monday, as per provisional data — their biggest single-day selling since May 30. The sharp outflow has heightened concerns about near-term market sentiment remains fragile ahead of the August 1 deadline set by U.S. President Donald Trump for progress on a trade agreement, with fears growing over potential geopolitical and economic repercussions from further early trade, Bharat Electronics (BEL), Eternal, Infosys, ICICI Bank, TCS, and HDFC Bank were among the top laggards on the Sensex, falling up to 2.5%. Meanwhile, Reliance Industries, Adani Ports, Tata Motors, and Power Grid opened in the the sectoral front, the Nifty IT index slipped 0.4%, weighed down by losses in Infosys, Wipro, and Coforge. In contrast, Nifty Metal, Realty, and Oil & Gas indices gained over 0.5%, offering some support to the the broader market, the Nifty Midcap 100 edged up 0.1%, while the Nifty Smallcap 100 declined 0.4%, reflecting mixed sentiment across individual stocks, Waaree Energies surged over 4% after the company reported an 89% YoY jump in consolidated net profit for Q1 FY26, coming in at Rs 745 crore compared to Rs 394 crore in the same period last year."There are more headwinds than tailwinds for the market now. The major issue weighing on markets is that the expected trade deal between India and the US has not happened so far and the probability of a deal before the August 1 deadline is becoming lower. President Trump's success in reaching deals with Japan and EU, which were advantageous for the US, may further make the US position harder on deal with India," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments."Sustained FII selling is impacting the market despite the DII buying. It is better to remain in a wait and watch mode," Vijayakumar Matalia, Derivative Analyst at Choice Broking, said, "After a negative opening, Nifty can find support at 24,600 followed by 24,500 and 24,300. On the higher side, 24,800 can be an immediate resistance, followed by 24,900 and 25,000."Asia shares eased on Tuesday while the euro nursed its losses as investors pondered the downside of the U.S.-EU trade deal and the reality that punishing tariffs were here to stay, with unwelcome implications for growth and Nikkei eased 0.8%, while Chinese blue chips fell 0.1%.European shares steadied after Monday's sell-off. EUROSTOXX 50 futures edged up 0.2%, while FTSE futures and DAX futures both added 0.1%. S&P 500 futures nudged up 0.1%, while Nasdaq futures added 0.2%.The selling from Foreign institutional investors (FIIs) extended for the sixth day as they sold equities worth Rs 6,082 crore on July 28, while Domestic institutional investors (DIIs) bought equities worth Rs 6,764 crore on the same day.
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Business Standard
10 minutes ago
- Business Standard
How to trade IT, Pharma stocks ahead of Aug 1 tariff deadline? Details here
Technical charts show that the Nifty IT index could decline another 11% from here; while the Pharma index could rally up to 8.5% if it clears the near-term hurdle at 22,815 levels. premium Rex Cano Mumbai Listen to This Article Shares of Indian IT and Pharma companies are likely to be on investors' radar as the deadline for the US reciprocal tariffs nears. Till date, the US administration has confirmed that there won't be any extension to the August 1 tariff deadline. According to a Reuters report, Trump on Monday was quoted as saying that most trading partners that do not negotiate separate trade deals would soon face tariffs of 15 per cent to 20 per cent. Meanwhile, India-US trade deal negotiations have hit another roadblock, as the US seeks India's commitment for an
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Business Standard
10 minutes ago
- Business Standard
Parliament Monsoon Session LIVE updates: Rajya Sabha to debate Op Sindoor, PM Modi likely to attend
External Affairs Minister S Jaishankar has firmly dismissed any speculation that US President Donald Trump had a hand in brokering a ceasefire between India and Pakistan to end Operation Sindoor. 'There was no call between Prime Minister Narendra Modi and Trump between April 22 (the Pahalgam attack) and June 17 (the ceasefire)... and at no stage was there any link between trade and what was going on…' Jaishankar stated on Monday evening during a heated parliamentary debate on Operation Sindoor. Jaishankar's remarks come in response to President Trump's assertion that he persuaded Delhi and Islamabad to halt escalating tensions following missile strikes on terrorist camps in Pakistan and Pakistan-occupied Kashmir. Previously, Congress MP Gaurav Gogoi had said Trump had claimed on 26 occasions that he used trade deals to bring about the ceasefire. Prime Minister Narendra Modi on Monday praised Defence Minister Rajnath Singh and External Affairs Minister S. Jaishankar in the Lok Sabha for articulating the outcomes of Operation Sindoor and highlighting India's diplomatic efforts on the global stage. Applauding Jaishankar's remarks, PM Modi said, 'The speech by EAM Ji was outstanding. He highlighted how the world has clearly heard India's perspective on fighting the menace of terrorism through Operation Sindoor.' Defence Minister: Operation Sindoor Achieved Objectives Opening the debate on Operation Sindoor, Defence Minister Rajnath Singh asserted that India is prepared to go to any extent to eradicate terrorism. He explained that Operation Sindoor, launched to dismantle terror infrastructure in Pakistan, is currently paused as the armed forces have achieved their objectives. However, he cautioned that the operation could resume if Islamabad undertakes any hostile actions.