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The Print
3 hours ago
- Business
- The Print
Stock markets fall for 2nd day; Sensex tanks 721 pts dragged by Bajaj Finance, foreign fund outflows
The 50-share NSE Nifty dropped 225.10 points or 0.90 per cent to a month's low of 24,837. The 30-share BSE Sensex tanked 721.08 points or 0.88 per cent to settle at over a month's low of 81,463.09. During the day, it plunged 786.48 points or 0.95 per cent to 81,397.69. Mumbai, Jul 25 (PTI) Stock markets declined for the second day in a row on Friday, with the Sensex tumbling 721 points due to heavy selling in financial, IT and oil & gas shares amid persistent foreign fund outflows. Analysts said a weak trend in Asian and European markets also dented investors' sentiment. Vinod Nair, Head of Research, Geojit Investments Limited, said, 'Subdued corporate results and lacklustre global cues triggered a broad-based sell-off across domestic equities. Elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, added to the downward pressure.' Among Sensex firms, Bajaj Finance declined 4.73 per cent post its June quarter earnings announcement. Power Grid, Infosys, Tech Mahindra, Bajaj Finserv, Trent, Tata Motors, NTPC and Adani Ports were also among the laggards. However, Sun Pharma and Bharti Airtel emerged as gainers. 'Markets extended their decline on Friday, losing nearly a per cent amid weak global cues. Benchmark indices remained under pressure from the outset, largely due to disappointing earnings, with the situation worsening as the session progressed. 'The recent correction reflects growing concerns around earnings disappointments and cautious management commentary, which are weighing heavily on investor confidence. Additionally, continued selling by FIIs is exacerbating the pressure,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. The BSE smallcap gauge tanked 1.88 per cent and midcap index dropped 1.46 per cent. Utilities slumped 2.37 per cent, power tumbled 2.36 per cent, oil & gas (2.11 per cent), industrials (1.88 per cent), capital goods (1.83 per cent), IT (1.65 per cent) and metal (1.64 per cent). BSE healthcare emerged as the only gainer. As many as 2,892 stocks declined while 1,117 advanved and 145 remained unchanged on the BSE. On the weekly front, the BSE benchmark gauge declined 294.64 points or 0.36 per cent, and the Nifty dipped 131.4 points or 0.52 per cent. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,133.69 crore on Thursday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought stocks worth Rs 2,617.14 crore. In Asian markets, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled lower while South Korea's Kospi ended in positive territory.. European markets were trading lower. The US markets ended on a mixed note on Thursday. India and the UK signed a landmark free trade agreement on Thursday, which, starting next year, will see 99 per cent of Indian exports enter the UK duty-free, while reducing tariffs on British products such as cars and whisky. The deal, which comes days ahead of the US moratorium on higher tariffs coming to an end, aims to double the USD 56 billion trade between the world's fifth and sixth largest economies by 2030. Global oil benchmark Brent crude climbed 0.32 per cent to USD 69.40 a barrel. On Thursday, the Sensex tanked 542.47 points or 0.66 per cent to settle at 82,184.17. The Nifty dropped 157.80 points or 0.63 per cent to 25,062.10. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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First Post
4 hours ago
- Business
- First Post
Stock markets fall for second day, Sensex crashes 721 points amid broad sell-off in IT, finance and energy stocks
Indian stock markets extended losses for a second straight session on Friday, with the Sensex nosediving 721 points and the Nifty slipping 225 points. Weak corporate earnings, continued FII outflows, and poor global cues dragged benchmarks to one-month lows read more Friday saw stock markets fall for the second consecutive day, with the Sensex plunging 721 points as a result of strong selling in IT, financial, and oil and gas stocks amid ongoing outflows of foreign funds. The 30-share BSE Sensex tumbled 721.08 points, or 0.88%, to close at 81,463.09 — its lowest level in over a month. In intraday trade, it fell as much as 786.48 points, or 0.95%, to touch 81,397.69. STORY CONTINUES BELOW THIS AD At 24,837, the 50-share NSE Nifty fell 225.10 points, or 0.90 percent, to its lowest level in a month. Investor mood was further damaged, according to analysts, by a dismal trend in the European and Asian markets. Vinod Nair, Head of Research, Geojit Investments Limited, said, 'Subdued corporate results and lacklustre global cues triggered a broad-based sell-off across domestic equities. Elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, added to the downward pressure.' Following the release of its June quarter earnings, Bajaj Finance saw a 4.73 percent fall among Sensex companies. Among the laggards were Power Grid, Infosys, Tech Mahindra, Trent, Bajaj Finserv, Tata Motors, NTPC, and Adani Ports. But Bharti Airtel and Sun Pharma came out on top. According to exchange data, foreign institutional investors (FIIs) sold off equities worth Rs 2,133.69 crore on Thursday. Nonetheless, stocks valued at Rs 2,617.14 crore were purchased by Domestic Institutional Investors (DIIs). In Asian markets, South Korea's Kospi concluded the day in positive territory, but Hong Kong's Hang Seng, Shanghai's SSE Composite index, and Japan's Nikkei 225 index all settled lower. The markets in Europe were trading lower. Thursday saw a mixed finish for US markets. India and the UK signed a landmark free trade agreement on Thursday, which, starting next year, will see 99 per cent of Indian exports enter the UK duty-free, while reducing tariffs on British products such as cars and whisky. STORY CONTINUES BELOW THIS AD The deal, which comes days ahead of the US moratorium on higher tariffs coming to an end, aims to double the USD 56 billion trade between the world's fifth and sixth largest economies by 2030. Global oil benchmark Brent crude climbed 0.32 per cent to USD 69.40 a barrel. On Thursday, the Sensex tanked 542.47 points or 0.66 per cent to settle at 82,184.17. The Nifty dropped 157.80 points or 0.63 per cent to 25,062.10.
Time of India
5 hours ago
- Business
- Time of India
ET Market Watch: Sensex slumps 721 pts, Nifty below 24,850; 5 factors why markets crashed
Transcript Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it: Sensex tanked 721 pts while Nifty50 slipped below 24,850. Here's what dragged Dalal Street down: 1. Financial Stocks Hit Hard Bajaj Finance plunged nearly 5% after Q1 results raised red flags around MSME loans. Other lenders such as HDFC Bank, SBI, Kotak, Axis also fell. Nifty Financial Services Index down over 0.9%. 2. US-India Trade Deal Stalled No breakthrough on tariffs. The August 1 deadline looms, uncertainty rising. Trade talks stuck on dairy & agri terms. 3. FII Sell-off Continues FIIs have dumped ₹11,572 crore in just 4 sessions. Heavy outflows + smallcap correction = weak market sentiment. 4. India-UK FTA Signed, BUT... Sectors like textiles & autos may benefit. But lack of clarity on the US front means no immediate boost for markets. 5. Weak Global Cues Asian indices dipped across the board. Hang Seng -1.1%, Nikkei -0.8%, ASX -0.5%. Investors cautious ahead of US Fed meeting & Big Tech earnings. M-Cap Loss: ₹6.5 lakh crore gone in a day. Stay tuned. Volatility isn't going anywhere.
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Business Standard
6 hours ago
- Business
- Business Standard
Sensex, Nifty face worst fall in a month, marking 4th straight weekly loss
Domestic equities fell on Friday, with benchmark indices posting their biggest weekly loss in nine months. Earnings disappointment, sustained selling from foreign portfolio investors (FPIs), and uncertainty surrounding the trade deal with the US weighed on sentiment. The Sensex ended the session at 81,463, with a decline of 721 points, or 0.9 per cent. The Nifty 50 index ended the session at 24,837, down 225 points, or 0.9 per cent. This was the biggest single-day fall for both indices since June 19. For the week, the Sensex declined by 0.4 per cent, and the Nifty fell by 0.5 per cent, marking the fourth consecutive weekly loss for both indices. The last time both indices posted a four-week losing streak was in the week ended October 25, 2024. The total market capitalisation of BSE-listed firms declined by Rs 6.4 trillion, reaching Rs 452 trillion. Infosys, which declined by 2.4 per cent, and Bajaj Finance, which fell by 4.7 per cent, were the biggest contributors to the Sensex decline. Bajaj Finance, which posted its biggest single-day fall since April 30, was also the worst-performing Sensex stock, as concerns over its worsening asset quality and high credit costs overshadowed strong loan growth. Other Bajaj group stocks also posted sharp losses. The decline in Infosys was attributed to the broader sell-off in the IT sector, amidst disappointment over tepid revenue and profit growth, making current valuations unjustifiable. The sell-off did not spare the beneficiaries of the India-UK trade deal, with many stocks in the textile, aquaculture, and automotive sectors declining. "A favourable deal with the UK was expected and priced in, so the signing was not a surprise. Moreover, the India-UK deal is only part of the puzzle. One has to see how the India-US trade deal shapes up and what kind of concessions India's export competitors get from the US and EU," said Chokkalingam G, co-founder of Equinomics. FPIs continued to be net sellers of equities worth Rs 1,980 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,139 crore. So far this month, FPIs have pulled out over Rs 20,000 crore from domestic markets, while DIIs have pumped in nearly Rs 40,000 crore. The market breadth was weak, with 2,969 stocks declining and 1,061 advancing. The broader Nifty Midcap 100 fell by 1.6 per cent, and the Nifty Smallcap 100 dropped by 2.1 per cent. "There is a bit of profit booking after the recovery from the April lows. However, the delay in the trade deal with the US is causing the biggest jitters in the markets. Investors are concerned about whether IT services will be impacted by tariffs," said Chokkalingam. In the future, corporate results and the trade deal with the US are expected to determine the market trajectory. "Elevated valuations in large-cap stocks, coupled with significant net short positions held by FPIs, added to the downward pressure. Moderation in DII inflows after the strong buying of the last 2-3 months, due to a muted earnings season and persistent FPI selling, continues to impact the current market," said Vinod Nair, head of research at Geojit Investments.
Business Standard
7 hours ago
- Business
- Business Standard
Bajaj Finserv Q1 PAT jumps 27% YoY to Rs 5,329 cr
Bajaj Finserv reported consolidated net profit jumped 26.60% to Rs 5,329.17 crore on 12.61% increase in total income to Rs 35,451.34 crore in Q1 FY26 over Q1 FY25. Profit before tax (PBT) jumped 20.69% to Rs 7,203.64 crore in Q1 FY26 as compared with Rs 5,968.41 crore in Q1 FY25. Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 51.39% holding in Bajaj Finance (BFL) and in the life, general and health insurance businesses through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC). BFL holds 88.70% stake in Bajaj Housing Finance (BHFL). Bajaj Finance (BFL) recorded 20% increase in consolidated net profit to Rs 4,699 crore in Q1 FY26 as against Rs 3,912 crore in Q1 FY25. Loan losses and provisions stood to Rs 2,120 crore in the Q1 FY26, up 25.81% YoY. Net total income for the June 2025 quarter rose 21% to Rs 12,610 crore from Rs 10,418 crore posted in corresponding quarter previous quarter. Gross Non-Performing Assets (NPA) and Net NPA as on 30 June 2025 stood at 1.03% and 0.50% respectively as against 0.86% and 0.38% as on 30 June 2024. Provisioning coverage ratio on stage 3 assets was 52%. Assets Under Management (AUM) stood at Rs 4,41,450 crore as of 30 June 2025, compared to Rs 3,54,192 crore as of 30 June 2024, reflecting a 25% year-on-year growth. The capital adequacy ratio (CRAR), including Tier-II capital, stood at 21.96% as of 30 June 2025, with the Tier-I capital at 21.19%. During the quarter, BFL successfully completed a share subdivision on 16 June 2025, reducing the face value of its equity shares from Rs 2 to Rs 1 per fully paid share. Following this, on 17 June 2025, the company issued 4 fully paid bonus equity shares for every 1 fully paid equity share held. Bajaj Allianz General Insurance Company Limited (BAGIC) stated that, effective 1 October 2024, and as mandated by IRDAI, gross premiums on long-term products are now recognized on a 1/n basis (where 'n' represents the contract duration), applied prospectively. As a result, Q1 FY26 figures are not comparable with those of prior periods. BAGICs gross written premium for Q1 FY26 increased by 9% to Rs 5,202 crore, compared to Rs 4,761 crore in Q1 FY25. Excluding the impact of the change in premium recognition methodology (1/n basis), and excluding tender-driven crop and government health insurance premiums, the gross written premium rose by 15% to Rs 5,358 crore, up from Rs 4,664 crore in Q1 FY25outpacing industry growth. The claim ratio improved to 71.1% in Q1 FY26, compared to 77.1% in Q1 FY25, driven by better claims experience. Profit after tax for Q1 FY26 stood at Rs 660 crore, compared to Rs 576 crore in Q1 FY25, marking a 15% year-on-year increase. As of 30 June 2025, the solvency ratio stood at 334%, significantly higher than the minimum regulatory requirement of 150%. Assets under management (AUM), represented by cash and investments, stood at Rs 35,199 crore as of 30 June 2025, compared to Rs 31,651 crore as of 30 June 2024, reflecting an 11% year-on-year increase. Bajaj Allianz Life Insurance Company Limited (BALIC) new business premium for Q1 FY26 stood at Rs 2,316 crore, compared to Rs 2,541 crore in Q1 FY25. Renewal premium for Q1 FY26 rose to Rs 3,162 crore, compared to Rs 2,477 crore in Q1 FY25, registering a 28% year-on-year growth. Shareholders' profit after tax surged 76% year-on-year to Rs 171 crore in Q1 FY26, up from Rs 97 crore in Q1 FY25. The Net Value of New Business (VNB)a key metric for measuring the profitability of the life insurance businessstood at Rs 145 crore in Q1 FY26, up from Rs 104 crore in Q1 FY25, reflecting a 39% increase. This growth was primarily driven by product restructuring, a favourable product mix, and cost rationalisation. Assets Under Management (AUM), represented by total investments, stood at Rs 1,31,052 crore as on 30 June 2025, compared to Rs 1,16,966 crore as on 30 June 2024, marking a 12% year-on-year increase. On 17 March 2025, Bajaj Finserv (BFS), along with its promoter and promoter group entities, signed Share Purchase Agreements (SPAs) to acquire Allianz SEs 26% equity stake in Bajaj Allianz General Insurance (BAGIC) and Bajaj Allianz Life Insurance (BALIC). The acquisition, subject to regulatory approvals, will be executed in tranches by 16 October 2026, with an initial tranche of at least 6.1%. Upon completion of this first tranche, the existing joint venture agreements with Allianz SE will be terminated. Approvals have already been received from the Competition Commission of India (CCI) and the Insurance Regulatory and Development Authority of India (IRDAI). Name change approvals are currently in process. Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions. Shares of Bajaj Finserv tanked 3.48% to Rs 1,961.30 on the BSE.
