Latest news with #AshutoshJoshi
Mint
2 days ago
- Business
- Mint
Investor Optimism Wanes as Few Nifty Companies Surpass Earnings Estimates
(Bloomberg) -- Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Indian equities look set for a firm open this morning, with Nifty futures and most Asian markets in the green. But the real action will be in the quarterly earnings, with big names like Infosys, Tata Consumer, and Dr Reddy's reporting their numbers. So far,the earnings season has been a bit underwhelming, which is keeping equity bulls cautious. Earnings season echo weak market momentum Investor hopes for an earnings revival — one that could justify lofty stock equity valuations — are starting to look shaky. So far, only half of the 12 Nifty companies with first-quarter profit estimates have managed to beat analyst forecasts, according to data compiled by Bloomberg. That's much lower from the prior quarter, when more 58% had surpassed expectations at the same point in results season. Jane Street factor fires up capital market stocks Yet, amid the weak earnings, not all corners of the market are struggling. Capital market stocks remain buoyant, as traders track the the return of global trading giant Jane Street to Indian bourses. Angel One, for instance, witnessed its highest bullish options activity in over a month, while shares of BSE and Nuvama Wealth rose Tuesday on hopes of increased trading volumes. The upcoming weekly derivatives expiry on Thursday will offer a clearer read on whether Jane Street's re-entry is really adding depth to the market. Top jeweler's overseas pivot may add luster Meanwhile, in the consumer space, Titan is looking overseas to counter a softer outlook at home. The Tata Group company is set to buy a majority stake in Middle Eastern jeweler Damas, giving it access to 146 premium locations in the UAE. Analysts at JM Financial expect the move to enhance Titan's standing in Gulf countries at a time when discretionary spending and consumer confidence in India is flagging. Even so, investors appear to be staying the course: Titan has outpaced the Nifty consumption index by three percentage points this year. Three great reads from Bloomberg today: Foreign appetite for local shares is showing signs of fatigue. After pumping in over $5 billion between March and June, global funds have turned cautious, pulling out $650 million so far this month through July 18. If the trend holds, July could mark the first month of net outflows since February. With earnings lacking excitement and stock valuations still looking rich, prospects for speedy rebound in the Nifty are fading, with the index more than 5% below its peak. To read India Markets Buzz every day, follow Bloomberg India on WhatsApp. Sign up here. --With assistance from Savio Shetty and Chiranjivi Chakraborty. More stories like this are available on
Bloomberg
15-07-2025
- Business
- Bloomberg
India's Key Stock Market Players Eye Jane Street's Likely Comeback
By Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Indian stocks may find relief from their four-day losing streak — the longest since March — thanks to buoyant regional markets. However, the near term outlook remains uncertain. HCL Technologies will be in focus after missing first-quarter profit estimates. Investors will also be keenly watching for updates on the US trade deal and potential regulatory relief for Jane Street.
Bloomberg
11-07-2025
- Business
- Bloomberg
Jane Street Ban Weighs on NSE Market Valuation and Expiry Turnover
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. It's finally Friday, and traders are likely heaving a sigh of relief as the week wraps up. The Nifty is headed for its second straight weekly loss, with expiry day turnover taking a hit due to SEBI's temporary trading ban on global firm Jane Street. Tata Consultancy Services (TCS) is in the spotlight after reporting a decline in sales, sparking concerns about India's IT sector outlook.
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Business Standard
10-07-2025
- Business
- Business Standard
Traders watch expiry day moves after Sebi ban on Jane Street Group
The benchmark NSE Nifty 50 Index opened little changed, with its biggest components - HDFC Bank Ltd., Reliance Industries Ltd. and ICICI Bank Ltd. - barely moving Bloomberg By Chiranjivi Chakraborty and Ashutosh Joshi Traders scrutinizing India's derivatives market watched for signs of unusual trading on the first major expiration day following a ban on Jane Street Group. The benchmark NSE Nifty 50 Index opened little changed, with its biggest components — HDFC Bank Ltd., Reliance Industries Ltd. and ICICI Bank Ltd. — barely moving. While it closed down 0.5%, the India NSE Volatility Index ended at its lowest level since April 2024. Nifty 50 options trading was the lowest for an expiration day since May 29 but in line with the average volume for this year's expiries, data compiled by Bloomberg show. Investors have been waiting for this day to see if the Securities and Exchange Board of India order released last Friday would have any impact on the market. It's on Thursdays that about half of the nation's equity-derivatives expire — a day at the center of Jane Street's lucrative strategy that SEBI called market manipulation. The US giant has denied the allegations, saying it was deploying common arbitrage trades. Investors are being careful given SEBI's 'strong vigilance,' said Tejas Shah, head of equity derivatives at Equirus Securities in Mumbai. 'No players would want to enter their bad books,' he added. More clarity on the impact of the Jane Street ban may emerge when the nation's leading bourse, the National Stock Exchange of India Ltd., releases its daily report on options prices later. Nimish Maheshwari, an analyst with Beat The Street who publishes on the Smartkarma platform, said he expected a 20% to 30% drop in options volume on weekly contracts relative to previous expiries as large trading firms are holding off deploying strategies similar to Jane Street's. On Tuesday, when the less liquid options on the BSE Sensex Index expired, volume remained in line with previous expirations. That said, the cost of the contracts traded on the BSE Ltd. exchange was 4% below the previous expiration and 28% lower than the eight-week average excluding month-end Tuesdays, according to a note from brokerage Ambit Capital. SEBI has been cracking down on derivatives trading after a 40-fold growth turned India into the world's biggest market for the contracts, with retail investors losing billions of dollars on the bets. While the cubs have tamed down trading, their losses have worsened, a report from the regulator showed earlier this week.
Bloomberg
03-07-2025
- Business
- Bloomberg
Small Investors Pour $42 Billion Into Indian Equities
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Indian equities are set for a firm start, tracking gains on Wall Street and in other regional markets. Upsides, however, could be capped given uncertainty around tariffs as the July 9 deadline looms. The electronic manufacturing sector will be in focus following a Bloomberg report that Foxconn has withdrawn staff from India, potentially impacting Apple's local manufacturing plans.
