Nifty trades above 24,350; European mrkt opens higher
At 13:30 IST, the barometer index, the S&P BSE Sensex, added 205.22 points or 0.26% to 80,355.06. The Nifty 50 index rose 38.35 points or 0.16% to 24,367.
In the broader market, the S&P BSE Mid-Cap index rose 0.34% and the S&P BSE Small-Cap index added 0.20%.
The market breadth was negative. On the BSE, 1,855 shares rose and 1,907 shares fell. A total of 167 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.24% to 17.32.
Gainers & Losers:
Bharat Electronics (up 3.93%), Reliance Industries (up 2.92%), Tech Mahindra (up 2.26%), Tata Consultancy Services (up 1.26%) and Infosys (up 1.16%) were the major Nifty50 gainers.
Power Grid Corporation of India (down 2.27%), UltraTech Cement (down 2.15%), Dr. Reddy's Laboratories (down 2.14%), Coal India (down 1.74%) and Oil & Natural Gas Corporation (down 1.40%) were the major Nifty50 Losers.
Stocks in Spotlight:
Hexaware Technologies rallied 3.23% after the companys consolidated net profit increased 2.6% to Rs 327.2 crore on 1.7% rise in revenue from operations to Rs 3,207.9 crore in Q1 CY25 over Q1 CY24.
Vimta Labs gained 1.31% after the company reported a 31.2% increase in net profit from continuing operations to Rs 18.32 crore on a 31.4% rise in total income to Rs 96.08 crore in Q4 FY25 as compared with Q4 FY24.
The board of Vimta Labs has granted its approval for increasing the companys borrowing powers up to Rs 300 crore, subject to approval of shareholders at the ensuing annual general meeting. The companys board has approved a dividend of Rs 2 per equity share for the financial year 2024-25.
The board has also recommended the issue of bonus shares in the ratio of 1:1, subject to the approval of shareholders in the ensuing AGM.
Firstsource Solutions fell 1.28%. The companys consolidated net profit rose 20.37% to Rs 160.69 crore on a 29.86% jump in revenue from operations to Rs 2,167.77 crore in Q4 FY25 over Q4 FY25.
Hatsun Agro Product slipped 5.68% after the companys consolidated net profit declined 17.52% to Rs 43.01 crore in Q4 FY25 as against Rs 52.15 crore posted in Q4 FY24. However, revenue from operations rose 9.57% YoY to Rs 2,242.85 crore during the quarter ended 31 March 2024.
RPG Life Sciences advanced 1.01% after the company reported a 64.3% increase in net profit to Rs 21.75 crore in Q4 FY25 from Rs 13.24 crore in Q4 FY25. Net sales rose by 12.7% year-over-year (YoY) to Rs 143.09 crore during the period under review.
Central Bank of India rose 1.44% after the banks standalone net profit jumped 28.02% to Rs 1,033.55 crore, driven by a 7.57% rise in total income to Rs 10,432.56 crore in Q4 FY25 compared to Q4 FY24.
Global Markets:
European markets opened higher on Tuesday, as investors parsed a flurry of earnings for indications of the impact of U.S. tariffs and global economic uncertainty.
Asian stocks traded higher after U.S. President Donald Trumps administration said that it would move to reduce the impact of auto tariffs, while investors also assessed company earnings.
Meanwhile, market watchers were glued to updates on negotiations between the U.S. and various countries in the region, hoping for any signs of a breakthrough.
In Japan, markets were closed for a public holiday.
Back in the U.S., Wall Street served up modest gains on Monday. The Dow Jones Industrial Average added 0.3%, the S&P 500 inched up 0.1%, and the Nasdaq Composite dipped ever so slightly by 0.1%, as investors digested fresh comments from U.S. Treasury Secretary Scott Bessent.
In an interview, Bessent struck a cautiously optimistic tone, mentioning that many countries have offered "very good" tariff proposals to the U.S. He also emphasized that all parts of the U.S. government remain in touch with China although Beijing earlier insisted no talks had happened.
Investors are gearing up for a packed calendar, featuring the Federal Reserves favorite inflation metric the PCE Price Index along with the highly anticipated monthly jobs report. Plus, first-quarter GDP numbers are due, which could set the tone for the markets heading into the summer.
The so-called "Magnificent Seven" megacaps Apple, Microsoft, Amazon, and Meta Platforms among them are all set to drop their earnings this week.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
4 minutes ago
- Mint
Wall St Week Ahead-Earnings, inflation data confront resilient US stocks rally
(Repeats SCHEDULED COLUMN originally published on July 11, no changes) US stock investors shrug off Trump's latest tariff plans Analysts pared forecasts for profits in June quarter Earnings coming up from big US banks, Netflix, 3M, J&J US consumer price data due Tuesday, retail sales Thursday NEW YORK, July 11 (Reuters) - A rally that has taken U.S. stocks to record highs will be tested in the coming week by the kick-off of corporate earnings season and a key inflation report as investors hope to learn more about the economic fallout from tariffs. The S&P 500 is little changed so far this week, but the benchmark stock index has surged 26% since April to all-time high levels. Stocks this week largely shrugged off President Donald Trump's threats of more aggressive tariffs on over 20 countries set to take effect August 1. Trump also announced plans for higher levies on copper, pharmaceuticals and semiconductors. "Investors are looking toward the end of the year into next year where fundamentals are better, and they are willing to look through some short-term uncertainty as they get there," said Chris Fasciano, chief market strategist at Commonwealth Financial Network. After a strong first-quarter reporting season helped lift stocks, analyst estimates for second-quarter results have weakened. S&P 500 companies are expected to have increased profits by 5.8% from the year-earlier period, down from an expectation of a 10.2% gain on April 1, according to LSEG IBES. The percentage of S&P 500 companies beating consensus estimates rose to 78% in the first quarter after the rate had declined the prior three quarters, Ned Davis Research analysts said. "Another reading in the upper 70s would suggest that companies have a grasp not only on tariffs, but also on the broader macro environment," the Ned Davis analysts said in a note. Reports from banks will dominate the week, including results from JPMorgan Chase, Bank of America and Goldman Sachs. Among the other major companies reporting next week are Netflix, Johnson & Johnson and 3M . In focus will be whether executives indicate if they are able to forecast and make decisions in areas such as capital investment and hiring despite the still-shifting trade backdrop, Fasciano said. "The uncertainty hasn't gone away, but I'm curious to see how much of the uncertainty they feel they have a better understanding of in terms of longer-term plans," Fasciano said. The impact of tariffs will also be at issue with the consumer price index for June, due on Tuesday, which will shed light on inflation trends. CPI is expected to increase 0.3% on a monthly basis, an acceleration from the prior month, according to economists polled by Reuters. A busy week of economic data will also be highlighted by monthly retail sales on Thursday. Investors are eager for the Federal Reserve to resume interest rate cuts, but central bank officials have cited worries that tariffs will drive inflation higher as reasons for holding off on changing monetary policy. The S&P 500 is up nearly 7% in 2025, just over halfway through the year. In the latest sign of positive stock momentum, Nvidia Corp this week became the first publicly traded company to hit $4 trillion in market value, fueled by a massive run for AI chipmaker's stock price. Stocks have rebounded after plunging in April following Trump's "Liberation Day" announcement of sweeping global tariffs. This past Wednesday was expected to be a key deadline, marking the end of Trump's pause on many of the harsh "reciprocal" tariffs he unveiled in April. This week, he launched an array of levies, many scheduled to take effect on August 1. Still, most investors appear to be banking on the U.S. avoiding higher tariff rates as Washington strikes deals in coming weeks with trading partners such as Japan and South Korea, said Anthony Saglimbene, chief market strategist at Ameriprise Financial. "That's what the market has built in," Saglimbene said. "If we don't get that, then I think there is probably some risk that we would see some higher near-term volatility if the White House actually implements some of these aggressive tariff measures." text_section_type="notes">Wall St Week Ahead runs every Friday. For the daily stock market report, please click (Reporting by Lewis Krauskopf; Editing by Alden Bentley and David Gregorio)
Hans India
12 minutes ago
- Hans India
Sula Vineyards' revenue falls 7.9 pc in Q1; stock drops nearly 40 pc in 1 year
Mumbai: Sula Vineyards Limited has reported a 7.9 per cent decline in its consolidated net revenue for the quarter ended June 2025 (Q1 FY26), with earnings falling to Rs 118.3 crore from Rs 128.4 crore in the same period the previous year (Q1 FY25). The company attributed the fall mainly to a 10.8 per cent drop in revenue from its own-brand wines, which came in at Rs 102.3 crore. The decline was largely due to a continued slowdown in urban consumption and the lingering effects of trade pre-loading in Maharashtra caused by changes in excise duties. The company also noted that last year's figures included a one-time benefit of Rs 10.4 crore from the unwinding of WIPS (Wine Inventory Purchase Scheme), without which this year's revenue was nearly flat on a year-on-year (YoY) basis. Despite the drop in overall revenue, Sula's wine tourism segment offered some relief, recording a 21.8 per cent increase in revenue to Rs 13.7 crore. The company credited this growth to higher footfalls, record Q1 occupancy at its resorts, and increased guest spending. The recently inaugurated Samruddhi Highway, which has shortened travel time between Mumbai and Nashik, also contributed to the positive momentum in tourism. Sula's premium wine brands like The Source and RASA continued to perform well. The company also introduced 'Sula Muscat Blanc' during the quarter -- marking India's first low-alcohol Muscat wine with 7.5 per cent ABV. Shares of Sula Vineyards closed on Friday's intra-day trading session at Rs 299.40, down by Rs 1.95 or 0.65 per cent on the National Stock Exchange (NSE). In the last five days, the shares were down by Rs 6.50 or 2.12 per cent. Over a one-month timeframe, the shares delivered a negative return of Rs 6.55 or 2.14 per cent. However, the decline in share price became more significant over longer timeframes. In the last six months, the stock was down by Rs 77.25 or 20.51 per cent. On a year-to-date (YTD) basis, the shares fell by Rs 115.50 or 27.84 per cent. Over the past one year, the stock declined by Rs 199.30 or 39.96 per cent.
Economic Times
17 minutes ago
- Economic Times
Can a $1,000 Trump Account make your baby a future millionaire?
Synopsis A new federal program called Trump accounts aims to boost children's wealth. Every US-born child between 2025 and 2028 will receive a $1,000 contribution. Families and employers can also contribute annually. Investment experts believe these accounts could grow substantially over time. Even small contributions could lead to significant savings for college or retirement. This initiative offers a unique wealth-building opportunity. Representative Image A new federal program—nicknamed 'Trump accounts'—could set your children on a path to millionaire status. These accounts will provide a $1,000 one-time government contribution to every U.S.-born child between 2025 and 2028. Parents and employers can also make annual contributions—up to $5,000 from families and $2,500 from employers—which can be invested in low-cost mutual funds or ETFs tied to major U.S. stock indexes like the S&P 500. Though details are still emerging as federal agencies draft regulations, investment experts say the Trump accounts could deliver substantial long-term gains. With consistent contributions and favorable market performance, these accounts have the potential to grow exponentially through compound a report, the Fortune wrote that if a family contributes just $20 a week ($1,000/year) and an employer adds the $2,500 maximum annually, the account could grow to over $100,000 by age 21—assuming a modest 7% annual return. Keep investing, and that account could be worth over $2 million by retirement age, the report added citing estimates from Russell Investments CEO Zach at the maximum allowed contribution of $5,000 per year, a child's account could be worth $190,000 after 18 years with an 8% annual return—enough to help with college, a down payment on a home, or retirement savings. A Head Start Other Accounts Don't Offer Unlike Roth IRAs, which require earned income, or 529 plans that are primarily for education expenses, Trump accounts can be opened at birth and are solely focused on wealth-building. That early start provides a major financial even if families can't contribute beyond the initial $1,000, the power of compound interest still adds up. At an 8% return, that initial amount alone could grow to nearly $4,000 in 18 years—completely What are Trump Accounts and who qualifies?Trump Accounts are federally backed investment accounts created for every baby born in the U.S. between January 1, 2025, and December 31, 2028. Each child receives a $1,000 one-time government contribution. Parents or legal guardians—who must have a Social Security number and work authorization—can open and manage the account, contributing up to $5,000 annually.2. How are Trump Account funds invested and used?The funds are invested in a U.S. stock market index. Over time, the investment grows with the market. The money can later be used for key life goals such as college tuition, vocational training, buying a home, or launching a business.3. When can a child access the funds?Partial withdrawals are allowed starting at age 18 for approved purposes. Full access is granted at age 25 for specific goals like education or entrepreneurship. Unrestricted use of the funds is permitted once the account holder turns 30.4. Who manages the account until the child becomes an adult?Until the child turns 18, the account is managed by their parent or legal guardian, who makes all investment and contribution decisions.5. Why are some financial experts skeptical of Trump Accounts?Critics point out that unlike 529 plans, Trump Accounts offer no tax deductions and earnings are taxed as ordinary income. Financial advisers like Amy Spalding continue to favor 529 plans for their tax advantages and broader investment options.
