Sensex, Nifty end in negative zone as weak Q1 results in finance, IT sectors weigh on market
At the end of the trading session, BSE Sensex was down 501.51 points or 0.61 per cent at 81,757.73, and the Nifty 50 at National Stock Exchange (NSE) was down 143.05 points or 0.57 per cent at 24,968.40.
Axis Bank, Shriram Finance, Bharat Electronics, HDFC Life, and SBI Life Insurance are among the major losers on NSE, while Wipro, Tata Steel, ONGC, IndusInd Bank, and Infosys were the major gainers.
On the sectoral front, except for metal and media, all other indices traded in the red with pharma, PSU bank, FMCG, capital goods, consumer durables, and telecom down 0.5-1 per cent.
"A broad-based sell-off was observed in the national market amidst a disappointing initial set of earnings from the finance and IT sectors," said Vinod Nair, Head of Research, Geojit Investments Limited.
Nair said that elevated valuations in large-cap stocks, coupled with significant net short positions held by Foreign Institutional Investors (FIIs), have contributed to a cautious sentiment among investors.
"Moreover, additional tariff threats are also casting a shadow on India over its trade relationship with Russia. Despite these pressures, the medium- to long-term outlook for India remains optimistic, supported by low inflation levels and proactive monetary authority committed to sustaining economic growth," Nair added.
Shrikant Chouhan, Head Equity Research, Kotak Securities attributed the sentiment to financials of the IT firms adding, "While macro data remained supportive, most large-cap IT services companies disappointed estimates."
The Indian equity markets had a mixed week, with the Nifty-50 Index and Sensex falling 1 per cent each, while small-caps gained 1.4 per cent and mid-caps gained 1 per cent over the past week.
Sector-wise, indices were mixed during the week. Health care (1.9 %), Auto (1.8%), FMCG (1.2%), Realty (3.4%) and Consumer Durable (0.7%) gained the most. While IT (- 1.3%) and Bank Nifty (-0.9%) lost the most. Within the Nifty, Hero Moto (+4.5%), M&M (+3.5%) and Bajaj Auto (+3.4%) gained the most, while Axis Bank (-5.9%), HCL Tech (-5.6%) and Tech Mahindra (-3.2%) lost the most. Indian equity markets also turned attention to the Q1FY26 earnings season, with investors having muted expectations for the season.
On the macro front, June CPI inflation moderated to 2.1 per cent (May: 2.8%), the goods trade deficit in June narrowed from May levels to USD 18.8 billion, led by a sharp fall in oil and gold imports and the services trade surplus remained steady at USD 15.3 billion.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
2 hours ago
- Times of Oman
India's core industries output grows 1.7% in April
New Delhi: India's core industries comprising eight sectors reported 1.7 per cent growth in June 2025, down from 5 per cent in the same month of 2024, data released on Monday by Ministry of Commerce and Industry showed. On a month-on-month basis, the expansion in June is relatively up, when these key sectors grew by 1.2 per cent. Commerce ministry data showed the production of steel, cement and refinery products recorded positive growth in June 2025. The Index of Eight Core Industries (ICI) measures the combined and individual performance of production of eight core industries -- Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The cumulative growth rate of ICI during April to June, 2025-26 is 1.3 per cent (provisional) as compared to the corresponding period of last year. The summary of the Index of Eight Core Industries is given below: Coal - Coal production (weight: 10.33 per cent) declined by 6.8 per cent in June, 2025 over June, 2024. Its cumulative index declined by 0.3 per cent during April to June, 2025-26 over corresponding period of the previous year. Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 1.2 per cent in June, 2025 over June, 2024. Its cumulative index declined by 2.0 per cent during April to June, 2025-26 over corresponding period of the previous year. Natural Gas - Natural Gas production (weight: 6.88 per cent) declined by 2.8 per cent in June, 2025 over June, 2024. Its cumulative index declined by 2.5 per cent during April to June, 2025-26 over corresponding period of the previous year. Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) increased by 3.4 per cent in June, 2025 over June, 2024. Its cumulative index remained constant during April to June, 2025-26 over corresponding period of the previous year. Fertilizers - Fertilizer production (weight: 2.63 per cent) declined by 1.2 per cent in June, 2025 over June, 2024. Its cumulative index declined by 3.8 per cent during April to June, 2025-26 over corresponding period of the previous year. Steel - Steel production (weight: 17.92 per cent) increased by 9.3 per cent in June, 2025 over June, 2024. Its cumulative index increased by 7.0 per cent during April to June, 2025-26 over corresponding period of the previous year. Cement - Cement production (weight: 5.37 per cent) increased by 9.2 per cent in June, 2025 over June, 2024. Its cumulative index increased by 8.4 per cent during April to June, 2025-26 over corresponding period of the previous year. Electricity - Electricity generation (weight: 19.85 per cent) declined by 2.8 per cent in June, 2025 over June, 2024. Its cumulative index declined by 2.0 per cent during April to June, 2025-26 over corresponding period of the previous year. "Although the year-on-year (YoY) growth in core output improved slightly to 1.7 per cent in June 2025 from 1.2 per cent in May 2025, it remained decidedly tepid, with as many as five of the eight sectors recording a contraction in their output in the month," said Aditi Nayar, Chief Economist, ICRA Ltd. "While an elevated base weighed upon coal output, excess rains in the latter half of June 2025 impacted electricity generation." "Encouragingly, the output of the cement and steel sectors rose by a robust 9.2-9.3 per cent in June 2025, although this was supported by a favourable base in the case of the former. The growth in volumes of these segments has been quite healthy in Q1 FY2026, which implies that the construction sector is poised to record a robust GVA growth in the quarter. Given the subdued growth in core output, ICRA expects the IIP growth to print at 1.5-2.5 per cent in June 2025," added Nayar. Release of the index for July, 2025 will be on Wednesday, August 20, 2025.
Times of Oman
2 hours ago
- Times of Oman
Despite geopolitical tensions, India's port sector expected to grow faster than major economies: Report
New Delhi: India's port sector is expected to grow at a faster pace than many major global economies, despite global geopolitical tensions and uncertainties according to a recent report by PL Capital. The growth is being driven by rising domestic consumption, increasing trade volumes, and strong government-led infrastructure projects. It stated, "we believe, despite ongoing geopolitical tensions and global uncertainty, India's ports sector is expected to grow faster than other major economies, driven by an increase in consumption and government-led projects". The report stated that ports and economic growth in India go hand in hand. The government's push to make India a global manufacturing hub, along with efforts to boost exports, is expected to fuel the growth of ports and the overall logistics sector. As per report, cargo volumes at Indian ports grew at a compound annual growth rate (CAGR) of 6.2 per cent over FY02 to FY25. This growth was led by non-major ports, where volumes rose at a higher CAGR of 9.1 per cent, compared to a 4.7 per cent CAGR growth at major ports. The demand for port infrastructure remains strong due to increasing trade and infrastructure development in the country. India currently has 12 major seaports and over 200 non-major ports, with a combined capacity of approximately 2,700 million metric tonnes (mmt). Major ports fall under the jurisdiction of the central government, while non-major ports are managed by state governments. The country has set an ambitious target to increase total port capacity to 10,000 mmt by the year 2047. The report highlighted several factors that are expected to drive this growth, including the rising aspirations of India's young population, the government's strong infrastructure focus through programs like Sagarmala and PM Gati Shakti, the increase in industrial and manufacturing activity, growing containerization, and a shift toward multimodal logistics. In addition, private sector participation in port development is also rising. The report also mentioned that the ports sector is undergoing a structural transformation. Capacity expansion, use of technology to reduce turnaround time, better loading and unloading standards, and improved connectivity are all contributing to making Indian ports more efficient and capable of handling future trade volumes.
Times of Oman
2 hours ago
- Times of Oman
Gita Gopinath returns to Harvard as professor after historic leadership at IMF
New Delhi: International Monetary Fund Deputy Managing Director Gita Gopinath has announced that she will return to academics and rejoin Harvard University as a professor in the Economics Department. The Harvard Gazette revealed that Gopinath will be joining the Harvard faculty this fall, following her return from a long-term public service leave of absence. "I now return to my roots in academia," said Gopinath in a post on X. "I look forward to continuing to push the research frontier in international finance and macroeconomics to address global challenges, and to training the next generation of economists," she wrote. Gopinath first arrived on Harvard Campus as a visiting professor in 2005. Beginning September 1, she will assume the newly created position of Gregory and Ania Coffey Professor of Economics at Harvard, with a new slate of course offerings available next spring. Gopinath served first as Chief Economist from 2019 to 2022 and subsequently as First Deputy Managing Director (FDMD) from January 2022 until her resignation in August 2025. David M. Cutler, dean of social science and Otto Eckstein Professor of Applied Economics, said that, "Gita's academic work has fundamentally shaped our understanding of exchange rates, international capital flows, and the global financial architecture." Cutler further added, "Having her back strengthens our standing as a top university for international macroeconomics. She is also an exceptional teacher and intellectual partner. We can't wait to welcome her home." According to The Harvard Gazette, Gita Gopinath, as chief economist, directed the IMF's research department and was responsible for its "World Economic Outlook" publication, which helps guide economic policy decisions across countries. She also co-authored a pandemic plan that hastened global cooperation on COVID-19 vaccine access and spearheaded an "Integrated Policy Framework" that now underpins the IMF's policy advice to countries on their response to international capital flows. IMF Managing Director Kristalina Georgieva also commended Gita's work. Georgieva said, "[Gita's] analytical rigour was paired with practical policy advice to the membership during an especially challenging period, which included the pandemic, wars, the cost-of-living crisis, and major shifts in the global trading system."
