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India Today
03-07-2025
- Business
- India Today
Will Sensex, Nifty open higher amid US–Vietnam trade deal impact?
Sensex and Nifty are likely to experience a modest increase in opening on Thursday, influenced by gains in Asian markets following a new trade agreement between the U.S. and Vietnam. This optimism comes as investors keep a close watch on the progress of a potential US–India trade Nifty futures were trading at 25,584 points at 8:18 am, suggesting an increase from the previous close of 25, Ambala, Sebi registered Research Analyst and Co-Founder of Stock Market Today, said "We can expect Nifty to find support between 25,300 and 25,230 and face resistance near 25,550 and 25,750 in the next session." Asian markets showed mixed reactions, with the MSCI Asia ex-Japan index up by 0.2%. This rise comes ahead of important U.S. jobs data and the consideration of a significant tax and spending bill in the U.S. the U.S. administration announced a 20% tariff on various Vietnamese exports, which President Donald Trump revealed on Wednesday, just days before a July 9 deadline for imposing stricter between U.S. and Indian trade representatives are ongoing, aiming to reduce tariffs. However, unresolved issues in U.S. dairy and agriculture sectors persist, according to Broking said that the index (Nifty) tested the immediate support area of 25,400 during Wednesday ahead, index holding above 25,400 on a closing basis will lead to a pullback towards 25,900–26,000 levels in the coming sessions. However, failure to do so may lead to a healthy retracement or consolidation, with the index likely moving within the broader 25,200–25,700 range," it added. As investors prepare for quarterly business updates ahead of first-quarter earnings, the forecast for Nifty suggests a cautious optimism, with a focus on maintaining key support levels.- EndsMust Watch
Business Recorder
02-07-2025
- Business
- Business Recorder
Indian stocks muted as Reliance Industries offsets broader losses
MUMBAI: India's benchmark indexes ended flat on Tuesday, as gains in heavyweight Reliance Industries on solar business optimism offset broader sectoral losses, with investors awaiting cues from US trade talks. The Nifty 50 rose 0.1% to 25,541.80 points and the BSE Sensex added 0.11% to 83,697.29. The MSCI Asia ex-Japan index rose 0.5% after Canada dropped its digital services tax on US tech firms—boosting hopes of progress in global trade negotiations. India could finalize an interim trade deal with the US as early as this week, the Financial Times reported, while Reuters said Indian officials are extending their visit to Washington to resolve outstanding issues. Seven of the 13 major sectors declined on the day. The broader small-caps and mid-caps were little changed.
Business Recorder
01-07-2025
- Business
- Business Recorder
India's equity benchmarks muted as Reliance Industries offsets broader losses
India's benchmark indexes ended flat on Tuesday, as gains in heavyweight Reliance Industries on solar business optimism offset broader sectoral losses, with investors awaiting cues from U.S. trade talks. The Nifty 50 rose 0.1% to 25,541.80 points and the BSE Sensex added 0.11% to 83,697.29. The MSCI Asia ex-Japan index rose 0.5% after Canada dropped its digital services tax on U.S. tech firms—boosting hopes of progress in global trade negotiations. India could finalize an interim trade deal with the U.S. as early as this week, the Financial Times reported, while Reuters said Indian officials are extending their visit to Washington to resolve outstanding issues. 'Indications of resolution of global trade uncertainties is a major positive for domestic markets and adds to the structural positives such as steady earnings, sustained institutional inflows and policy support from the central bank,' said Nimesh Chandan, chief investment officer at Bajaj Finserv Asset Management. However, bouts of profit booking are likely in the near term as some investors lock in gains from the 15% rally in benchmarks over the past four months, potentially capping sharp upside ahead of the U.S. tariff deadline on July 9 and the June-quarter earnings season, three analysts said. India's equity benchmarks ease as financials retreat from record highs Seven of the 13 major sectors declined on the day. The broader small-caps and mid-caps were little changed. Reliance Industries, which is the third highest weighted stock on Nifty, rose 1.9% after Nuvama raised its target price to a Street-high of 1,801 rupees citing improving growth prospects in its new energy segment. Financials inched 0.2% lower, easing for the second session after hitting a record high on Friday. Sigachi Industries lost 5.6%, extending Monday's 12% plunge, after a deadly fire at its Telangana facility killed at least 39 people. Apollo Hospitals rose 3.5% after unveiling plans to hive off its digital health and pharmacy unit.
New Indian Express
01-07-2025
- Business
- New Indian Express
Sensex rises 118 points, Nifty 50 reaches 25,535; markets open higher on Tuesday
CHENNAI: Indian markets opened slightly higher on Tuesday, supported by gains in Asian equities and improved global sentiment ahead of the upcoming US tariff deadline on July 9. The Sensex rose 118 points to 83,724 at the opening bell, while the Nifty 50 added 18 points to reach 25,535. This positive start reflected a 0.6% rise in the MSCI Asia ex-Japan index and followed a strong finish on Wall Street, fueled by hopes of progress in U.S. trade talks. Meanwhile, oil prices edged lower on expectations of increased output from OPEC+—a welcome sign for India, which relies heavily on crude imports. Additionally, oil prices declined on expectations of an OPEC+ output increase—a favorable development for India, which is a major crude importer. The US dollar softened ahead of key US economic data and an upcoming vote on President Trump's fiscal reforms, which also supported emerging markets like India. On the domestic front, sentiment was supported by hopes for a breakthrough in India–US trade talks. Investors are closely watching for any early resolution ahead of the July 9 deadline. Among stocks in focus, Apollo Hospitals gained over 4% in early trade following news of a planned spin-off and listing of its digital health and pharmacy unit within the next 18–21 months. The parent company plans to retain a 15% stake in the new entity.
Business Recorder
01-07-2025
- Business
- Business Recorder
India shares muted as financials retreat, US trade talks eyed
India's equity benchmark indexes were flat on Tuesday, as heavyweight financials came off after a four-month rally, while investors awaited progress in trade talks with the United States ahead of a looming July 9 tariff deadline. The Nifty 50 rose 0.11% to 25,546.75 points and the BSE Sensex added 0.16% to 83,738.92 as of 10:43 a.m. IST. The MSCI Asia ex-Japan index rose 0.5%, on hopes that negotiations between the US and key trading partners were gaining momentum, after Canada's decision to withdraw its digital services tax on US tech firms. Indian officials will extend their US visit to try to reach an agreement on a trade deal with the Trump administration and address lingering concerns on both sides, Reuters reported on Monday, citing two Indian government sources. The countries aim to tie up an early trade deal. India's equity benchmarks could falter if an India-US trade deal is delayed, given stretched valuations after a 15% rally over the past four months, three analysts said. 'Domestic sentiment remains vulnerable with the 90-day US tariff reprieve nearing its end,' said Mahendra Patil, founder and managing director of MP Financial Advisory Services. The broader small-caps and mid-caps fell 0.1% and 0.2%, respectively. Financials inched 0.3% lower, easing for the second session after hitting a record high on Friday. State-owned banks lost 0.75%, after jumping 5.3% in the previous five sessions. Apollo Hospitals rose 3.1% after it unveiled plans to spin off and separately list its digital health and pharmacy unit within 18 to 21 months. India's equity benchmarks ease as financials retreat from record highs Sigachi Industries lost 5.4%, extending Monday's 12% plunge, after a deadly fire at its Telangana facility killed at least 39 people. Dixon Technologies slipped 3.1% after Morgan Stanley downgraded the electronic manufacturing services provider to 'underweight' from 'equal-weight,' citing the risk of slowing earnings growth.
