Dhanlaxmi Bank Q1 profit at Rs 12 crore despite higher provisions
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Mint
3 minutes ago
- Mint
Indian shares inch lower as Kotak earnings drag financials, trade deal delay weighs
By Bharath Rajeswaran and Vivek Kumar M (Reuters) -Indian shares inched lower on Monday as weak results from Kotak Mahindra Bank weighed on sentiment, while uncertainty over trade talks with the U.S. added to overall caution. The Nifty 50 fell 0.16% to 24,798.9 points and the BSE Sensex lost 0.2% to 81,325.4 as of 10:03 a.m. IST. The broader small-caps and mid-caps lost 0.3% and 0.2%, respectively. Negotiations between India and the United States remained deadlocked over tariff cuts on agriculture and dairy products, dimming hopes of an interim deal ahead of U.S. President Donald Trump's August 1 deadline. This is in contrast to a framework trade agreement struck between the U.S. and European Union over the weekend, easing fears of a bigger trade war between the two allies, which account for almost a third of global trade. High-weightage financials and private banks lost 0.2% and 1%, respectively, dragged by a 7% fall in Kotak Mahindra Bank after it posted a drop in quarterly profit. The IT index lost 0.5%, with Tata Consultancy Services shedding 1.6% after it announced plans to reduce its workforce by 2% in fiscal year 2026. The Nifty 50 and 30-stock Sensex have logged four consecutive weekly losses due to weak earnings, foreign outflows and uncertainty over the U.S.-India trade deal. "A dull earnings season and the lingering delay in the India-U.S. trade deal have clearly cast a shadow on market sentiment. With valuations still stretched across the board, investors are understandably treading with heightened caution," said G Chokkalingam, founder and head of research at Equinomics Research. Among individual stocks, Mphasis gained 2.4% on posting quarterly results in-line with estimates and on strong deal bookings, which has boosted the IT company's revenue growth outlook. SBI Cards and Payment Services lost 3.7% after missing profit estimates in the June quarter. (Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Eileen Soreng and Mrigank Dhaniwala)
The Hindu
3 minutes ago
- The Hindu
Markets fall in initial trade dragged by Kotak Bank, trade deal uncertainty
Benchmark equity indices Sensex and Nifty declined in early deals on Monday (July 28, 2025) dragged down by heavy selling pressure in Kotak Mahindra Bank and uncertainty related to the India-US trade deal. Persistent foreign fund outflows and weak trends in Asian markets also hit investors' sentiment. The 30-share BSE Sensex dropped 369.58 points to 81,093.51 in early trade. The 50-share NSE Nifty declined 104.3 points to 24,732.70. From the Sensex firms, Kotak Mahindra Bank tumbled nearly 7% after the company on Saturday reported a consolidated net profit of ₹4,472 crore for the June quarter, and flagged stress on the retail commercial vehicle portfolio due to adverse macroeconomic conditions. The profit in the year-ago period was ₹7,448 crore, but it had included gains of over ₹3,000 crore on its stake sale in the general insurance arm, while the net profit for the March quarter stood at ₹4,933 crore. Tata Consultancy Services, Bharti Airtel, Infosys and Eternal were also among the laggards. However, Tata Motors, Bajaj Finserv, UltraTech Cement and Power Grid were among the gainers. "Negative news and triggers have pushed the Nifty to a one-month low, and market sentiments continue to be unfavourable. While trade deals with Japan and EU, thought to be difficult initially, have happened, the much expected India-US trade deal is even now hanging fire. This has impacted market sentiments," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. Vijayakumar further added that the sharp cut in the IT index has been dragging the market down, and there is no respite in this in view of the 2 per cent cut in its global workforce announced by TCS. FII selling of ₹13,552 crore in the cash market last week has added to the weakness in the market, he said. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index traded lower while Hong Kong's Hang Seng quoted in positive territory. The US markets ended higher on Friday. Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,979.96 crore on Friday, according to exchange data. Global oil benchmark Brent crude climbed 0.29% to $68.64 a barrel. On Friday (July 25, 2025), the Sensex tanked 721.08 points or 0.88% to settle at over a month's low of 81,463.09. The Nifty dropped 225.10 points or 0.90% to a month's low of 24,837.
News18
11 minutes ago
- News18
Markets fall in initial trade dragged by Kotak Bank, trade deal uncertainty
Last Updated: Mumbai, Jul 28 (PTI) Benchmark equity indices Sensex and Nifty declined in early deals on Monday dragged down by heavy selling pressure in Kotak Mahindra Bank and uncertainty related to the India-US trade deal. Persistent foreign fund outflows and weak trends in Asian markets also hit investors' sentiment. The 30-share BSE Sensex dropped 369.58 points to 81,093.51 in early trade. The 50-share NSE Nifty declined 104.3 points to 24,732.70. From the Sensex firms, Kotak Mahindra Bank tumbled nearly 7 per cent after the company on Saturday reported a consolidated net profit of Rs 4,472 crore for the June quarter, and flagged stress on the retail commercial vehicle portfolio due to adverse macroeconomic conditions. The profit in the year-ago period was Rs 7,448 crore, but it had included gains of over Rs 3,000 crore on its stake sale in the general insurance arm, while the net profit for the March quarter stood at Rs 4,933 crore. Tata Consultancy Services, Bharti Airtel, Infosys and Eternal were also among the laggards. However, Tata Motors, Bajaj Finserv, UltraTech Cement and Power Grid were among the gainers. Vijayakumar further added that the sharp cut in the IT index has been dragging the market down, and there is no respite in this in view of the 2 per cent cut in its global workforce announced by TCS. FII selling of Rs 13,552 crore in the cash market last week has added to the weakness in the market, he said. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index traded lower while Hong Kong's Hang Seng quoted in positive territory. The US markets ended higher on Friday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,979.96 crore on Friday, according to exchange data. Global oil benchmark Brent crude climbed 0.29 per cent to USD 68.64 a barrel. On Friday, the Sensex tanked 721.08 points or 0.88 per cent to settle at over a month's low of 81,463.09. The Nifty dropped 225.10 points or 0.90 per cent to a month's low of 24,837. PTI SUM SUM ANU ANU view comments First Published: July 28, 2025, 10:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
