Sensex, Nifty 50 end flat— 10 key highlights from Indian stock market today
(This is a developing story. Please check back for fresh updates.)
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Mint
20 minutes ago
- Mint
Best stock recommendations today: MarketSmith India's top picks for 25 July
The Nifty 50 declined 0.63% Thursday, weighed down by weak Q1 earnings from key IT and consumer firms, which triggered broad market selling. Uncertainty over a potential US-India trade deal also overshadowed optimism about an India-UK agreement. IT and banking stocks were the major laggards, pulling the index below the 25,100 level by the session's close. Two stock recommendations for today by MarketSmith India: GlaxoSmithKline Pharmaceuticals Ltd (current price: ₹3,156) Why it's recommended: Focus on innovation and global pipeline, strong financial position and cash reserves, operational excellence, and supply chain strength Key metrics: P/E: 57.40 | 52-week high: ₹ 3,515.70 | Volume: ₹ 20.31Cr. Technical analysis: Witness buying interest from a lower level. Risk factors: Regulatory and compliance risk, product concentration risk, foreign exchange, and global integration risks. Buy: ₹3,156 Target price: ₹3,560 in two to three months. Stop loss: ₹2,990 India Pesticides Ltd (current price: ₹228) Why it's recommended: Strong volume-led revenue growth, capacity expansion and backwards integration, China‑plus‑one trend and export demand. Key metrics: P/E: 30.61 | 52-week high: ₹431 | Volume: ₹26.98 crore. Technical analysis: Tight range breakout. Risk factors: Product and customer concentration, price competition and market fragmentation. Buy at: ₹228 Target price: ₹265 in two to three months. Stop loss: ₹212 How Nifty 50 performed on 24 July The Nifty 50 opened on a flat note and remained under pressure throughout the session, closing near the day's low and forming a bearish candlestick on the daily chart. Market sentiment was weighed down by the weakness in key sectors, such as IT, FMCG, and private banking, along with broader market indices, which collectively dragged the index lower. On the positive side, PSU banking and pharmaceutical stocks showed resilience and ended in the green. The advance-decline ratio remained negative, closing at approximately 2:3 in favour of decliners. The Nifty 50 continues to consolidate within a defined range, trading between its 50-DMA and 21-DMA. This reflects a lack of clear directional momentum in the short term. On the technical front, the Relative Strength Index (RSI) remains in a bearish trajectory, currently hovering around the 48 level, suggesting weakening momentum. Additionally, the MACD has formed a negative crossover, further reinforcing the cautious outlook and signalling the potential for continued consolidation or downside pressure in the near term. According to O'Neil's market direction methodology, market status has been downgraded to an 'Uptrend Under Pressure" as the Nifty breached its '50-DMA" and the 'distribution day count" rose to five. The Nifty 50 continued to trend with a negative bias on Thursday, closing below the 25,100 mark amid broad-based selling pressure. Going forward, the 25,000-24,900 zone will be a critical support area to watch; a sustained move below this range could signal further downside in the near term. On the upside, immediate resistance is seen near 25,300. A decisive breakout and sustained move above this level would be crucial to restore bullish momentum and improve market sentiment in the days ahead. How Nifty Bank performed yesterday On Thursday, the Nifty Bank traded in a narrow range and closed with a modest loss of 0.25%, forming a small bearish candle on the daily chart. The index exhibited sectoral divergence, as private banks came under pressure while PSU banking stocks outperformed and ended in positive territory. Despite the weakness, the index held firm above the 57,000 level. Meanwhile, the FINNIFTY index extended its decline, falling 0.62%, signalling broader weakness across the financial sector. The index is currently trading above all key moving averages, suggesting underlying strength; however, it has been in a sideways consolidation phase for the past three weeks. The RSI is also moving sideways and is positioned around the 54 level, reinforcing the lack of clear, directional momentum. Similarly, the MACD remains above its central line but continues to exhibit a negative crossover. This technical setup indicates a mixed outlook. According to O'Neil's Market Direction Model, the Nifty Bank remains in a 'Confirmed Uptrend', a status it has successfully maintained over the past few weeks. The Nifty Bank has been consolidating within a defined range of 57,500-56,000 over the past three weeks, indicating a lack of clear directional bias. A decisive breakout above or breakdown below this range is likely to set the tone for the next leg of movement. Until then, the ongoing sideways trend is expected to persist. On the technical front, strong resistance is observed near 57,500, while key support lies in the 56,200-56,000 zone. MarketSmithIndia is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
20 minutes ago
- Economic Times
Jio BlackRock enters Indian MF market with focus on profitability and growth
Synopsis Jio BlackRock Asset Management, a new entrant in the Indian mutual fund industry, is prioritizing profitability and capturing new market growth over aggressive pricing strategies, unlike Jio's telecom approach. The joint venture aims to offer differentiated products and leverage its tech platform, Aladdin, to reduce costs and provide competitive pricing. Agencies The industry is keeping a close watch to see if Jio BlackRock will undercut rivals in the ultra-competitive mutual fund industry. Mumbai: Jio BlackRock Asset Management, one of the latest high-profile entrants into the Indian mutual fund industry, maybe following a slightly different playbook from group entity Jio's disruptive telecom foray. The 50:50 joint venture between Mukesh Ambani-backed Jio Financial Services and the world's largest asset manager BlackRock, may not be as aggressive on its pricing strategy to grab market share, unlike Jio's sharp discounting that helped it catapult into the big league in and capturing share from new growth in a market that has grown threefold in five years will be some of its mantras. "It is not at all to just capture market share, and profitability will be important and pricing is one of the key points," said Sid Swaminathan, MD and CEO, Jio Blackrock Asset Management, in an exclusive interview with ET. "We know the market is going to grow, we want to help it grow and get a share of the new growth that is coming, rather than capture from existing incumbent players. It's the growth story we are here for," said Swaminathan, who spent close to two decades with BlackRock in various fund management capacities, before relocating to India, about a year fund house is keen to offer differentiated content, value-added products and grow the market rather than grab share from existing players, he said. One of the differentiators Jio BlackRock will bring is its proprietary tech platform Aladdin, which will help in cutting transaction costs. "That allows us some cost engineering which we will pass on to end customer which results in more competitive pricing," said Swaminathan. The industry is keeping a close watch to see if Jio BlackRock will undercut rivals in the ultra-competitive mutual fund Blackrock started operations in India this month with launch of three debt schemes that include overnight, liquid and money market funds that mopped up ₹17,800 crore in early July. There have been talks that Reliance has also invested in the NFO."I don't want to be disclosing those levels of numbers now. Point is they are a large institution. They invest in all MFs right now. We have had 90 different institutions invest, so the breadth we got is very large; it is well diversified to begin with and we continue to add more investors post the NFO," he is expected to soon launch another five index funds, including four equity and one fixed-income fund. While the fund house has started with index funds, it aims to offer the entire range of index and active funds, funds that are driven by data, exchange traded funds (ETFs), specialised investment funds (SIFs) and alternate investment funds (AIFs) over time. While the Indian mutual fund market offers both regular and direct plans, the fund house has started with only direct plans, bypassing mutual fund distributors who sell regular plans and earn a commission. 'There is a growing trend towards digital; people are comfortable doing finances on the phone; we are looking to harness that with a direct digital model and that looks like the right way to start. However, nothing is off the table and as the business grows we will evaluate and take a call,' Swaminathan said. The Indian mutual fund industry, one of the fastest growing globally, has seen assets under management expand threefold in the past five years—to Rs 74.41 lakh crore in June 2025 from Rs 25.5 lakh crore in June 2020. The industry is abuzz with speculation that Jio Blackrock will scale fast and could also look at acquisitions. 'It is too premature to look at acquisitions. We are just getting started. From a strategy perspective we want to be in a situation where we will look at the evolution of the market, how we grow, what we see changing and how we adapt with our funds and distribution. We don't want to rule anything out,' said Swaminathan. 'We want to be a significant player here in the long term, but on the path to that we will get a better idea once we spend more time in the market,' he added
Time of India
31 minutes ago
- Time of India
India, UK unveil road map to boost defence, tech, energy ties
India, UK unveil road map to boost defence, tech, energy ties Prime Minister Narendra Modi strongly raised issues like the need to shun double standards on terrorism, presence of Indian economic offenders in the UK and Khalistan extremism in his meeting with counterpart Keir Starmer, saying those who use democratic freedom to undermine democracy must be held accountable. Thanking Starmer for his strong condemnation of the Pahalgam terrorist attack, Modi said that the two leaders were united in their view that there can be no place for double standards in the fight against terrorism. Modi also said that Indian and British agencies would work together for the extradition of economic offenders, in what was seen as a clear message to fugitives such as Vijay Mallya, Nirav Modi, Lalit Modi and Sanjay Bhandari that government intends to get them back to face legal action in the country. Although government has got assistance, Mallya and Nirav Modi have been seeking to prolong their stay in the UK by using multiple forums for appeal. While the formalisation of India-UK free trade agreement was the highlight of Modi's visit to the UK, another significant takeaway was the launch of a Vision 2035 roadmap for boosting ties in areas like defence, technology, education, clean energy and people-to-people contacts. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo The leaders adopted a blueprint for defence industrial cooperation to promote, as the Indian government said, collaboration in co-design, co-development and co-production of defence products to meet the growing demand in both countries as well as for the world market. On the issue of Khalistan extremism, which he was expected to raise with Starmer, Modi said there was agreement between India and the UK that forces with extremist ideologies must not be allowed to misuse democratic freedoms. "Those who misuse democratic freedoms to undermine democracy itself must be held to account," said the PM, in his joint press statement with the UK PM. "On the matter of extradition of economic offenders as well, our agencies will continue to work together in close coordination and cooperation," added Modi, who sought the UK's cooperation in bringing the fugitives to justice. India and the UK also reached an agreement between the CBI and the UK's National Crime Agency to jointly fight organised crime. Foreign secretary Vikram Misri said that the leaders committed to strengthen the global fight against terrorism. "While noting that extremism and radicalisation pose threat to both societies, they agreed to further enhance bilateral cooperation to deal with the menace," said the official. Modi said that Vision 2035 will serve as a roadmap for a strong, trusted, and ambitious partnership in the areas of technology, defence, climate, education, and people-to-people connectivity. "It is our commitment that, from AI to critical minerals, semiconductors to cyber security, we shall create the future together," he said, while inviting Starmer to visit India soon. Starmer accepted the invitation. Amid concerns over the erratic US trade policies, both sides also sought to promote a fair, non-discriminatory and inclusive trading system. According to the roadmap, India and the UK reaffirmed their shared commitment to a rules-based international order and to strengthening multilateralism through meaningful reform. Importantly for India, the roadmap focuses on reform of the United Nations, including the security council, and other multilateral institutions such as the Commonwealth, WTO, WHO, IMF, and the World Bank, ensuring these bodies "reflect contemporary global realities and are equipped to address emerging challenges".
