Nifty trades above 24,900 level;Sensex jumps 691 pts; European mrkt opens higher
The Nifty traded above the 24,900 level. All the sectorial indices on NSE were in the green with IT , Metal and private bank shares gaining the most
At 12:30 IST, the barometer index, the S&P BSE Sensex gained 690.89 points or 0.85% to 81,809.49. The Nifty 50 index jumped 221.20 points or 0.91% to 24,945.20.
In the broader market, the S&P BSE Mid-Cap index rose 0.54% and the S&P BSE Small-Cap index dropped 0.18%.
The market breadth was negative. On the BSE, 1,639 shares rose and 2,321 shares fell. A total of 192 shares were unchanged.
Gainers & Losers:
Tech Mahindra (up 2.60%), SBI Life Insurance Company (up 2.41%), HDFC Life Insurance Company (up 2.28%), UltraTech Cement (up 1.87%) and Bharat Electronics (up 1.86%) were the major Nifty50 gainers.
Tata Motors (down 3.76%), Dr Reddy's Laboratories (down 0.98%), Sun Pharmaceutical Industries (down 0.47%), Adani Ports and Special Economic Zone (down 0.44%) and Jio Financial Services (down 0.26%) were the major Nifty50 Losers.
Sun Pharmaceutical Industries shed 0.47%. The pharma major announced the appointment of Kirti Ganorkar as the managing director (MD) of the company, effective 1 September 2025, for a term of five years.
Meanwhile, the company confirmed that the USFDA conducted a Good Manufacturing Practices (GMP) inspection of its Halol facility in Gujarat, India, from 2 June to 13 June 2025. Upon the conclusion of the inspection, the USFDA issued a Form-483 with 8 observations.
Economy:
Inflation measured by the Wholesale Price Index (WPI) fell to a 14-month low of 0.39% in May from 0.85% in April, data released by the government on Monday showed. This is the third consecutive month of decline in WPI inflation.
Positive rate of inflation in May 2025 is primarily due to increase in prices of manufacture of food products, electricity, other manufacturing, chemicals and chemical products, manufacture of other transport equipment and non-food articles, etc.
Stocks in Spotlight:
Tata Consultancy Services (TCS) rose 1.54% after the company announced a long-term strategic partnership with Salling Group to drive sustainability, technological innovation, and improve organizational efficiency.
Spicejet shed 0.09%. The companys standalone net profit surged 173% to Rs 324.87 crore in Q4 FY25 as against Rs 119 crore posted in Q4 FY24. However, revenue from operations fell 13.4% year on year to Rs 1,360.87 crore in the fourth quarter of FY25.
Lupin added 0.35%. The compnay announced that it has signed a license and supply agreement with Sino Universal Pharmaceuticals (SUP) for the commercialization of Tiotropium Dry Powder Inhaler (DPI) capsules in China for the treatment of chronic obstructive pulmonary disease.
HBL Engineering gained 1.86% after the company announced that it had secured a contract worth Rs 132.95 crore from South Central Railway for the deployment of the indigenously developed Kavach safety system.
United Drilling Tools (UDTL) advanced 1.86% after the company announced that it has secured a significant order from Oil and Natural Gas Corporation for the supply of large outer diameter (OD) casing pipes with connector totaling to Rs 107.55 crore.
Global Markets:
European markets advanced on Monday, reboundingat least initiallyfrom Fridays losses, which were triggered by escalating tensions as Israel and Iran launched airstrikes against each other, raising fears of a prolonged and deadly conflict.
Most Asian markets also traded higher, as investors kept a cautious eye on the rising geopolitical tensions while also digesting a fresh batch of Chinese economic data.
Oil prices surged after Israel and Iran exchanged strikes over the weekend, stoking fears of a broader conflict in the region. Gold followed suit, climbing higher as investors rushed to the comfort of safe-haven assets.
Back in Asia, the spotlight was on China. The country released a mix of economic indicators that painted a somewhat uneven picture. Retail sales in May shot up 6.4% from a year earlier, signaling a boost in consumer spending. But industrial output slowed to 5.8% year-on-year, down from 6.1% in April.
Meanwhile, fixed-asset investment rose 3.7% in the January-May period, slightly weaker than the 4% growth seen in the first four months. There was a silver lining, though: the urban unemployment rate dipped to 5.0% in May, the lowest since November 2023.
Over on Wall Street, all three major US indexes sank on Friday, spooked by the Middle East flare-up and surging energy prices. The Dow tumbled 1.79%, the S&P 500 fell 1.13%, and the Nasdaq slid 1.30%.
Focus was now squarely on a Federal Reserve meeting this week. The Fed is set to kick off a two-day meeting from Tuesday, and is widely expected to keep interest rates unchanged, around 4.5%, at the end of the meeting on Wednesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
22 minutes ago
- Time of India
Will minimum EPS-95 pension be hiked this festive season? Govt responds in Parliament
What is EPS? Academy Empower your mind, elevate your skills Questions on minimum pension under EPF-95 Is there any decision expected ahead of the upcoming festive season? Pensioners in India are looking forward to a long-awaited increase in the minimum monthly pension amount under the Employees' Pension Scheme (EPS-95). The current minimum pension is Rs. 1,000 per month, but trade unions, pensioners' associations and public representatives have been urging the government to raise the government has also confirmed that it has received many requests from trade unions and public representatives for an increase in the minimum Employee Pension Scheme (EPS) is a retirement benefit plan introduced by the Indian government in 1995 to provide financial security to employees after they stop working. It is part of the Employees' Provident Fund (EPF) framework. While, EPF serves as a lump sum retirement corpus, EPS provides pension upon retirement. This pension varies depending on the member salary and years of service. The funds in EPS need not be contributed Wealth Online tells you in detail the questions asked by the Members of Parliament on the minimum pension hike and the government's reply on the read: Higher pension: These central government employees to get pension hike due to minor salary increase Members of Parliament Vaiko and M. Shanmugam asked various questions on minimum pension.(a) Whether the demand to enhance minimum pension in Employees Pension Scheme (EPS-95) is under consideration of Government for a long time?(b) If so, by when Government will take a decision, especially in view of mounting pressure from the trade unions and the court judgments?(c) The constraint in increasing the EPF pension when there are sufficient funds available in the corpus fund and the accumulated unclaimed funds? and(d) Whether Government would expedite a decision in view of coming festival season?The government responded to the questions in Parliament:Representations have been received from various stakeholders including trade unions and public representatives to increase the minimum pension under the Employees' Pension Scheme (EPS), 1995 from existing Rs. 1000/- per month. The EPS, 1995 is a "Defined Contribution-Defined Benefit" Social Security Scheme. The corpus of the Employees' Pension Fund is made up of (i) contribution by the employer @ 8.33 per cent of wages; and (ii) contribution from Central Government through budgetary support @ 1.16 per cent of wages up to an amount of Rs.15,000/- per month. All benefits under the scheme are paid out of such accumulations. The fund is valued annually as mandated under paragraph 32 of the EPS, 1995 and as per the valuation of the fund as on 31.03.2019, there is an actuarial deficit. However, the Government is providing a minimum pension of Rs. 1000 per month to the pensioners under the EPS, 1995 by providing budgetary support, which is in addition to the budgetary support of 1.16 per cent of wages provided annually towards EPS to Employees' Provident Fund Organisation (EPFO).There is no confirmation of a pension hike before the festive season. The government did not commit to a timeline but reiterated that it continues to provide budgetary support to ensure the minimum Rs 1,000 pension.
India.com
22 minutes ago
- India.com
Anil Ambani hits JACKPOT as this company turns profitable from loss, share price jumps 1150% to touch Rs…, the company is…
Anil Ambani (File) Anil Ambani-led Reliance Infrastructure has made a strong comeback, turning profitable in the first quarter of the current financial year. The company posted a net profit of Rs 59.84 crore for the quarter, compared to a loss of Rs 233.74 crore in the same period last year. Reliance Infra Q1 Results On Monday, Reliance Infrastructure shares witnessed a sharp rally, jumping over 4% to reach Rs 358 on the BSE. The surge came after the company reported a turnaround in performance with a record profit for Q1 of FY26. Reliance Infrastructure is now completely debt-free, with no outstanding dues to banks or financial institutions. The company's total income for the April–June 2025 quarter was at Rs 6,035.59 crore, down from Rs 7,256.21 crore in the corresponding quarter of the previous fiscal. However, on a quarter-on-quarter basis, income showed strong growth up 41% from Rs 4,268.05 crore reported in the March 2025 quarter. Consolidated EBITDA for Q1 FY26 rose 29% year-on-year to Rs 1,494 crore. Reliance Infra Stock Jumps 1150% In 5 Years Reliance Infrastructure shares have given massive returns of over 1,150% in the past five years. The stock, which was priced at Rs 27.85 on July 31, 2020, climbed to Rs 358 as of July 28, 2025. Over the last four years alone, it has surged more than 355%, and in the past two years, it has risen by over 198%. The stock's 52-week high is Rs 425, while the 52-week low stands at Rs 188.25. ED Search Operations Reliance Infrastructure and Reliance Power, both part of the Anil Ambani Group, announced on Sunday that the Enforcement Directorate (ED) has concluded its search operations. The companies confirmed that their executives fully cooperated with authorities during the process. They also clarified that the ED's actions have had no impact on the business operations, financial performance, shareholders, employees, or other stakeholders of the company.
India.com
22 minutes ago
- India.com
TCS Layoffs: Modi government issues BIG Statement, says 'Keeping close eye on…', TCS CEO says Reason for this decision…
Indian technology giant Tata Consultancy Services has decided to lay off around 2 percent of its total workforce, impacting the jobs of around 12000 employees. According to a Moneycontrol report quoting government sources, the Ministry of Electronics and Information Technology (MeitY) is reportedly keeping a close eye on the developments surrounding this big decision. In the coming future, the government expects the industry and academia to address issues related to skilling and re-skilling. The report further states that approximately 12,000 employees—about 2 percent of TCS's total workforce—were laid off on July 27 as part of the company's efforts to become more agile and future-ready. 'Industry and academia will also have to address skilling and re-skilling related issues. We are keeping a close eye on all of this,' the source told Moneycontrol. TCS CEO Krithivasan on Layoffs In an exclusive interview to Moneycontrol, the TCS CEO Krithivasan said that the move by the company is not a reaction to AI adoption but a step toward future-proofing workforce skills. 'No, this is not because of AI giving some 20 percent productivity gains. We are not doing that. This is driven by where there is a skill mismatch, or, where we think that we have not been able to deploy someone,' Krithivasan also told Moneycontrol This decision will majorly impact some of the entry level associates who have been on the bench for a long time along with middle and senior level employees for the most apart. Employment Linked Incentive Scheme Additionally, the Union Cabinet approved a Rs 99,446 crore Employment Linked Incentive (ELI) Scheme on July 1. This aims to accelerate job creation with a special emphasis on manufacturing and also seeks to create over 3.5 crore new jobs over a period of two-years. Under this initiative, first-time workers can receive a one-time wage support of up to Rs. 15,000, and employers will be rewarded for job creation over the next two years.
