Latest news with #KotakMahindraBank
Hans India
15 hours ago
- Business
- Hans India
Bank stocks, FII outflows drag markets lower
Mumbai: Benchmark Sensex tanked 501 points while Nifty closed below the 25,000 mark on Friday due to selling in banking shares after muted quarterly earnings and foreign fund outflows. Falling for the second straight day, the 30-share BSE Sensex declined by 501.51 points or 0.61 per cent to settle at 81,757.73. During the day, it shed 651.11 points or 0.79 per cent to hit a low of 81,608.13. The 50-share NSE Nifty dropped 143.05 points or 0.57 per cent to close at a month's low of 24,968.40. Analysts said investors turned cautious over banking stocks in response to Axis Bank's latest financial results, which fell short of market expectations. Among Sensex firms, Axis Bank tumbled the most by 5.24 per cent after it reported a 3 per cent dip in its June quarter consolidated net profit at Rs 6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policy. Devarsh Vakil, Head of Prime Research, HDFC Securities, said Axis Bank's latest financial results fell short of market expectations. 'Notably, Axis Bank's GDR tumbled 4.8 per cent to USD 64.30 on Thursday, following a deterioration in the bank's asset quality during the June quarter,' he said. Among blue-chip bank stocks, Axis Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India ended lower. Following the decline in bank stocks, the BSE Bankex ended 1.33 per cent lower at 62,741.65. Bharat Electronics, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Titan and Eternal were also among the laggards from the Sensex pack. However, Bajaj Finance, Tata Steel, ICICI Bank, HCL Tech and Infosys were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,694.31 crore on Thursday, according to exchange data. 'A broad-based sell-off was observed amidst a disappointing initial set of earnings from the finance and IT sectors.
The Hindu
a day ago
- Business
- The Hindu
Sensex tanks 501 points on selling in bank stocks, foreign fund outflows
Benchmark stock indices Sensex and Nifty tumbled on Friday (July 18, 2025), marking their second straight day of losses due to foreign fund outflows and selling in banking shares after a muted start to the quarterly earnings season. The 30-share BSE Sensex tanked 501.51 points or 0.61%, to settle at 81,757.73. During the day, it shed 651.11 points or 0.79%, to hit a low of 81,608.13. The 50-share NSE Nifty dropped 143.05 points or 0.57%, to close at 24,968.40. Analysts said investors turned cautious over banking stocks in response to Axis Bank's latest financial results, which fell short of market expectations. Among Sensex firms, Axis Bank tumbled the most by 5.24% after it reported a 3% dip in its June quarter consolidated net profit at ₹6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policy. Devarsh Vakil, Head of Prime Research, HDFC Securities, said Axis Bank's latest financial results fell short of market expectations. 'Notably, Axis Bank's GDR tumbled 4.8% to $64.30 on Thursday (July 17, 2025), following a deterioration in the bank's asset quality during the June quarter,' he said. Among blue-chip bank stocks, Axis Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India ended lower. Following the decline in bank stocks, the BSE Bankex ended 1.33% lower at 62,741.65. Bharat Electronics, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Titan and Eternal were also among the laggards from the Sensex pack. However, Bajaj Finance, Tata Steel, ICICI Bank, HCL Tech and Infosys were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,694.31 crore on Thursday (July 17, 2025), according to exchange data. In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled lower, while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended in positive territory. European markets were trading with gains. The U.S. markets ended higher on Thursday (July 17, 2025). Global oil benchmark Brent crude climbed 0.92% to $70.16 a barrel. On Thursday (July 17, 2025), the Sensex dropped 375.24 points or 0.45%, to settle at 82,259.24. The Nifty ended lower by 100.60 points or 0.40%, at 25,111.45.
Economic Times
a day ago
- Business
- Economic Times
Why stock market is down today: Sensex falls over 600 pts, Nifty slips below 25,000; 5 reasons behind the drop
Why Stock Market is Falling Today: All major sectors, except metals, were in the red. Financials led the decline, with Axis Bank, HDFC Bank, and Kotak Mahindra Bank dragging the Nifty Private Bank index down. Stock Market Crash Today: Indian markets experienced a sharp decline on Friday, with the Sensex and Nifty50 falling due to FII selling, Axis Bank's disappointing earnings, and Citi's downgrade of Indian equities. Global uncertainties surrounding US Fed policy and rising oil prices further contributed to the negative sentiment. Financial stocks were particularly hard hit, leading the broad-based market weakness. Tired of too many ads? Remove Ads Here are five key reasons behind the fall: 1. FIIs Turn Negative in July Tired of too many ads? Remove Ads 2. Axis Bank's Earnings Miss Spooks Financial Sector 3. Citi Downgrades India to 'Neutral' Tired of too many ads? Remove Ads 4. Uncertainty Over US Fed's Next Move 5. Rising Oil Prices Indian benchmark indices declined sharply on Friday, dragged by selling in financial stocks, weak earnings, and cautious global sentiment. The Sensex fell over 600 points intraday, while the Nifty50 breached the 25,000 mark amid broad-based 11:54 am, the BSE Sensex was down 553 points, or 0.67%, at 81,706, and the Nifty50 slipped 153 points, or 0.60%, to 24,959. The total market capitalisation of BSE-listed companies declined by Rs 2.13 lakh crore to Rs 458.74 lakh major sectors, except metals, were in the red. Financials led the decline, with Axis Bank HDFC Bank , and Kotak Mahindra Bank dragging the Nifty Private Bank index down 1.36%. Auto, FMCG, Financial Services, and Pharma indices also saw broader market was weak too, with the Nifty Midcap100 and Smallcap100 shedding over 0.5% institutional investors (FIIs), who had supported the Indian market with strong inflows in May and June, have turned net sellers so far in July. This reversal in trend reflects growing caution amid global uncertainties, elevated valuations, and a shift in risk May, FPIs were net buyers to the tune of Rs 19,860 crore, followed by inflows of Rs 14,590 crore in June. However, in the first half of July, they have pulled out Rs 2,660 crore from Indian equities, raising concerns about sustained market strength at current levels."In July, so far, India has been underperforming most markets, with a dip of 1.6% in Nifty. A significant contributor to the decline is the selling by FIIs. There is a clear pattern in FII activity this year so far. They were sellers in the first three months. For the next three months, they turned buyers. And in the seventh month the trends so far indicate further selling unless some positive news reverses the downtrend in the market," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited."Along with selling in the cash market, FIIs have been increasing short positions in the derivatives market too, which reflects a bearish outlook. Elevated valuations in India and cheaper valuations in other markets will continue to influence FII activity," Vijayakumar added.A surprise drop in Axis Bank's quarterly profit due to higher provisions triggered sharp selling in financial stocks. Axis Bank shares fell 6%, making it the biggest laggard on the disappointment spread across the sector, with HDFC Bank, Kotak Mahindra Bank, SBI , and ICICI Bank also falling. Together, these five lenders contributed around 310 points to the Sensex's overall downgrade of Indian equities from 'overweight' to 'neutral' also dampened investor sentiment.'India remains the most expensive market, trading at 23x forward earnings, above peers and its historical average,' Citi said. It cited stretched valuations and a moderation in earnings growth expectations as key reasons for the Citi remains positive on India's macro outlook, it prefers selective sectors like banks, NBFCs, healthcare, and telecoms, while staying cautious on IT, metals, and consumer sentiment also turned cautious after conflicting signals from US Federal Reserve officials. While Governor Christopher Waller said he expects a rate cut later this year, most officials have pushed back on the idea of an imminent now see almost no chance of a rate cut in the July 30 meeting, and only a 62% probability in September — adding to the risk-off oil prices rose sharply following drone attacks in northern Iraq that shut down half of Kurdistan's oil crude traded at $69.48 per barrel, and WTI at $67.51. This spike in oil prices has renewed concerns over input cost pressures, especially for oil-importing countries like India.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
New Indian Express
a day ago
- Business
- New Indian Express
Sensex down by around 500 to 600 points, slipping below the 82,000 mark
CHENNAI: Domestic market sentiment on Friday, despite a supportive global backdrop, remained cautious, led by sharp declines in key private banks and telecom. Investors are closely watching corporate earnings and institutional flows to gauge short-term trends. As of 11:41 AM, the equity benchmark indices were trading lower, with the Sensex down by around 500 to 600 points, slipping below the 82,000 mark, and hovering near 81,600–81,750. The Nifty50 also dropped below the 25,000 level and was seen trading around 24,930–24,960, down by approximately 150 to 180 points. This subdued performance in domestic equities came despite positive global cues following strong US labour and retail data, which had helped ease concerns about a global economic slowdown. The downturn in Indian markets was largely driven by selling pressure in banking and telecom stocks. Axis Bank was the top loser on the Nifty, falling by nearly 4 to 6 percent after reporting a weaker-than-expected Q1 result. The bank's net profit dropped by 4 percent year-on-year to ₹5,806 crore, while its net interest margin narrowed to 3.80 percent. A rise in gross non-performing assets, which increased from 1.28 percent to 1.57 percent on a quarterly basis, added to investor concerns. Kotak Mahindra Bank and Bharti Airtel also contributed to the drag on indices, with notable declines. Meanwhile, select IT stocks provided some relief. Wipro gained around 3 to 4 percent after posting better-than-expected Q1 earnings, aided by continued resilience in client spending in the US. Broader markets showed mixed action—while midcaps were down mildly, small-caps saw limited declines of around 0.7 percent. Some stocks on the BSE defied the trend and posted gains of over 15 percent. Globally, the mood remained optimistic. Asian markets traded higher following a record close on Wall Street, supported by upbeat US economic data. The MSCI Asia ex-Japan index was up around 0.7 percent. However, foreign institutional investors continued to be net sellers in Indian markets, even as domestic institutional investors provided some cushion. Crude oil prices were stable, and the Indian rupee strengthened marginally, trading around ₹86 against the US dollar. From a technical standpoint, the Sensex showed signs of pressure, trading below its short-term moving averages, with immediate support seen around 81,600. The Nifty Bank index dropped to lows near 56,780 but showed signs of slight recovery. The overall market trend suggests consolidation amid ongoing Q1 earnings announcements and macroeconomic cues, with upcoming results from companies like Reliance Industries and JSW Steel likely to drive direction in the near term.
Mint
2 days ago
- Business
- Mint
Kotak Mahindra, Bharti Airtel, Dabur among key stocks to trade ex-dividend today
Dividend Stocks: Kotak Mahindra, Bharti Airtel, Dabur among key stocks to trade ex-dividend today These firms, along with many others, had decided that July 18, 2025, would be the record date for evaluating the list of eligible shareholders to receive dividends. To be included on the list of eligible shareholders to receive dividends under the T+1 settlement method, investors who wanted dividends had to purchase them at least one day before the record date. Kotak Mahindra Bank—Kotak Mahindra Bank had recommended a dividend of Rs. 2.50 per equity share with a face value of Rs. 5/- for the fiscal year ending March 31, 2025. The dividend is subject to approval by members at the upcoming Annual General Meeting. Bharti Airtel—Bharti's Board of Directors suggested a final dividend of Rs. 16/- per fully paid-up equity share and Rs. 4/- for every partly paid-up equity share for the fiscal year 2024-25, which must be approved by members at the 30th Annual General Meeting. Dabur India Ltd—On May 7, 2025, the Board of Directors of the Company proposed a Final Dividend of Rs. 5.25 per share (525%) for the fiscal year 2024-25. Blue Star Ltd., or BLUESTARCO, will trade ex dividend, as it had declared a final dividend of Rs. -9.00 per equity share Afcons Infrastructure Ltd, or AFCONS had declared a final dividend of ₹ - 2.5000 Bajaj Electricals Ltd, or BAJAJELEC had declared final Dividend of ₹ 3.00 per share Birlasoft Ltd, or BSOFT had declared final dividend of Rs. 4.00 Cummins India Ltd., or CUMMINSIND had declared final Dividend of Rs. 33.50 per equity share Dhanuka Agritech Ltd had declared a final dividend of Rs. 2.00 per share Exide Industries Ltd. (EXIDEIND) had declared a final dividend of Rs. - 2.00 per share Intellect Design Arena Ltd., or INTELLECT, had declared a final dividend of ₹ 4 per share and a special dividend of ₹ -3.00 per share. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
