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Stock Market LIVE Updates: HUL, Airtel, ICICI Bk drag Sensex 260 pts to 79,860; smallcaps outperform
8:41 AM
Stock Market LIVE Updates: World Bank trims India's FY26 growth forecast to 6.3% amid uncertainty
Stock Market LIVE Updates: Highlighting global economic weakness and policy uncertainty, the World Bank on Wednesday lowered India's growth forecast by 40 basis points to 6.3 per cent, a day after the IMF revised its estimate down to 6.2 per cent for FY 2025-26.
The Reserve Bank of India (RBI) also recently cut its growth projection to 6.5 per cent, down from the earlier estimate of 6.7 per cent.
In its October 2024 forecast, the World Bank had initially projected India's economic growth at 6.7 per cent. READ MORE
8:34 AM
Stock Market LIVE Updates: Stocks to Watch, April 24: Tata Consumer, LTIMindtree, NHPC, Bajaj Finance
Stock Market LIVE Updates: Tata Consumer Products: The FMCG giant posted a significant 59.2 per cent surge in net profit attributable to shareholders, reaching ₹345 crore in Q4 of FY 2024-25. Net sales for the quarter climbed 17.3 per cent to ₹4,608 crore, while underlying volume growth in its India-branded business stood at 5.9 per cent, excluding acquisitions. READ MORE
8:03 AM
Stock Market LIVE Updates: Asia-Pacific markets mixed
Stock Market LIVE Updates: Markets in the Asia-Pacific region were mixed mixed on Thursday, as Trump's less confrontational comments about tariffs on China, fuelled optimism regarding a possible thaw in US-China trade war.
Japan's benchmark Nikkei 225 climbed 0.97 per cent, and the Topix gained 0.91 per cent. South Korea's Kospi slipped 0.67 per cent and the small-cap Kosdaq slipped 0.18 per cent.
Australia's S&P/ASX 200 gained 0.58 per cent.
Hong Kong's Hang Seng index dragged 0.29 per cent while mainland China's CSI 300 was higher by 0.21 per cent.
7:54 AM
Stock Market LIVE Updates: Wall Street closes higher
Stock Market LIVE Updates: US stocks rose on Wednesday, after US President Donald Trump inidcated a less confrontational approach to negotitations with China on trade tariffs.
The Dow Jones gained 1.07 per cent to close at 39,606.57, the S&P 500 climbed 1.67 per cent to end at 5,375.86, and the Nasdaq Composite advancing 2.50 per cent to settle at 16,708.05.
Futures linked to the SP 500 were up marginally by 0.08 per cent, Nasdaq 100 futures were flat, while Dow Jones futures were down 0.15 per cent.
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Time of India
a minute ago
- Time of India
Trump pauses export controls to bolster China trade deal: Report
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Mint
a minute ago
- Mint
Bull Case Forecast: Sensex may hit 1,15,836 and Nifty 43,876 by FY28, says Ventura
Indian equity market is likely to deliver strong gains over the next few years, with the benchmark indices potentially rising 42 percent by fiscal 2028, according to Ventura Securities. Despite a turbulent global economic backdrop, the brokerage sees India's strong GDP growth, manageable debt levels, and relatively stable bond yields as key drivers positioning the country ahead of global peers. In its latest forecast, Ventura Securities said that the Sensex could reach 1,15,836 and the Nifty 50 could climb to 43,876 by FY28 in a bullish scenario. These projections are supported by a compound annual earnings per share (EPS) growth rate of 12–14 percent and macroeconomic stability. Even in a more conservative or bearish environment, the brokerage sees solid upside. It estimates the Sensex could still rise to 104,804 points and the Nifty 50 to 39,697. The forecast is underpinned by a price-to-earnings (PE) multiple of 21 times in the bull case and 19 times in the bear case, with estimated FY28 EPS at 5,516 for the Sensex and 2,089 for the Nifty. According to Ventura, India's unique macroeconomic combination — relatively high growth, moderate debt, and benign interest rates — gives it an edge over advanced economies like the US and Japan. 'India's large growth market is likely to outpace its global peers supported by a unique combination of strong GDP growth, moderate debt levels, and comparatively benign bond yields,' the brokerage noted. Ventura's bullish outlook is also shaped by encouraging Q1FY26 earnings season trends. As of mid-quarter, 159 companies have declared their results, with broad-based growth across sectors. Engineering, manufacturing, and services led the charge, while consumption, commodities, and pharmaceuticals delivered steady performances. Sectors such as BFSI, IT, healthcare, and logistics have delivered positive earnings surprises. This, Ventura said, highlights the resilience of Indian corporate earnings and reinforces confidence in long-term fundamentals. 'India remains the world's most promising investment destination,' the brokerage added, citing GDP growth at 6.5 percent, a debt-to-GDP ratio around 80%, and stable bond yields. While developed markets face headwinds such as high debt and sluggish growth, India's demographic dividend and structural economic reforms continue to attract global capital. Vinit Bolinjkar, Head of Research at Ventura Securities, said the past decade has proven India's resilience despite multiple crises. 'In the last 10 years, the Indian economy has demonstrated resilience and clocked the highest GDP growth among large economies, despite global headwinds such as the NBFC crisis, COVID-19, Russia–Ukraine war, and the recent uncertainty on Trump tariffs,' he said. According to Bolinjkar, India's ability to mitigate risks will outweigh existing challenges and help push GDP growth to an estimated 7.3 percent by FY30. Strategic measures like the discovery of oil in the Andaman region, the gold monetization scheme, and a multi-pronged national security strategy are expected to add further strength to India's macroeconomic fundamentals. Ventura believes that the Indian equity market has not yet priced in the long-term structural advantages the country offers. Factors such as rising foreign exchange reserves, sustainable debt levels, and the possibility of lower interest rates could create a highly favorable investment landscape in the coming years. In this context, the Sensex's journey to 115,000 and beyond looks achievable — provided the current momentum in earnings and reforms continues. For investors looking beyond short-term volatility, India stands out as a resilient and rewarding long-term bet. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
a minute ago
- Business Standard
Explained: What is the new 15% US-EU tariff deal and what does it cover?
US President Donald Trump and European Commission President Ursula von der Leyen on Sunday, July 27, announced a wide-ranging trade agreement that imposes a 15 per cent tariff on most European imports into the US. The deal, which was finalised during a brief meeting at Trump's Turnberry golf resort in Scotland, averted the looming threat of a 30 per cent tariff that was set to take effect on August 1. While the headline tariff rate is fixed at 15 per cent, many of the agreement's finer details are still unclear. The deal includes zero tariffs on select 'strategic goods' such as aircraft and aircraft parts, certain chemicals, semiconductor equipment, some agricultural products, and critical raw materials. However, pharmaceuticals, steel, and some farm goods remain outside the scope of this agreement. What is not included in the deal? While the agreement removes immediate tariff threats, several issues remain unresolved. Trump confirmed that the existing 50 per cent US tariff on imported steel will stay in place. Talks will continue on setting steel import quotas and reducing overcapacity in the global market. Pharmaceuticals were not included in this agreement. Von der Leyen clarified that those discussions are ongoing, separate from Sunday's deal. Tariffs on some EU agricultural products also remain unchanged, but with no clear indication of which items are excluded. What impact will the agreement have? The 15 per cent tariff is a significant increase from the pre-Trump average US tariff of about 1 per cent on European goods and above the 10 per cent baseline tariff applied during negotiations. For European exporters, the impact could be considerable as many companies will face the difficult choice of either passing the cost on to US consumers or absorbing losses. The earlier 10 per cent tariff was already enough to prompt the European Commission to slash its growth forecast from 1.3 per cent to 0.9 per cent. Now, with 15 per cent, German industry leaders warn of 'immense negative effects' on export-reliant sectors. Von der Leyen defended the deal, calling it 'the best we could do' and noting that it secures continued access to the US market and brings a degree of stability. How are different sectors reacting, especially carmakers? The car industry, which was gearing for a 30 per cent tariff, sees the 15 per cent rate as a relief. Von der Leyen pointed out that the new rate is significantly lower than the current 27.5 per cent tariff on cars from all countries — which includes Trump's 25 per cent tariff and the pre-existing 2.5 per cent US auto tariff. Still, European automakers remain under pressure. Volkswagen revealed it had already lost $1.5 billion in profits in the first half of the year due to higher US tariffs. Mercedes-Benz, which produces a significant share of its US-sold vehicles in Alabama, said price hikes are likely for future model years. What were the key issues dividing the two sides? Before Trump's presidency, US-EU tariffs were relatively low. According to the Brussels-based Bruegel think tank, the US averaged a 1.47 per cent tariff on European goods, while the EU imposed 1.35 per cent on American products, Associated Press reported. Trump frequently criticised the $235 billion US merchandise trade deficit with the EU, calling the European market unfair — particularly in the automotive sector. However, the EU argues that the US enjoys a substantial surplus in services like cloud computing, travel, and financial services, which helps offset the imbalance. Despite Trump's stance that the EU 'was formed to screw the United States', both sides have recognised the need to preserve their trading relationship. With $2 trillion in annual commerce, the US and EU form the world's largest bilateral trading bloc. How did the deal come together? The last-minute breakthrough came just days before the US deadline to impose new tariffs. Trump and von der Leyen held brief talks at Trump's golf resort in Scotland, joined by top EU trade officials. Commerce Secretary Howard Lutnick said the August 1 deadline was firm. 'No extensions, no more grace periods,' he said. Yet he said that Trump remained open to future dialogue. The EU had prepared its own list of retaliatory tariffs targeting hundreds of US goods, including beef, auto parts, beer, and even Boeing aircraft. Without a deal, everything from French cheese to German electronics could have become more expensive for American consumers. What are the concerns going forward? While the agreement avoided an immediate trade war, analysts caution that the deal remains vague in parts. 'There is nothing on paper, yet,' said ING's global chief of macro Carsten Brzeski. He warned that the lack of formal documentation makes enforcement and interpretation difficult. German Chancellor Friedrich Merz praised the outcome for preserving 'core interests' but expressed disappointment that deeper tariff relief wasn't achieved. (With agency inputs)
