Latest news with #NiftyIT
News18
15 hours ago
- Business
- News18
IT, Metal, Realty Stocks Slide Up To 4% Amid Trump Tariff Shock, Fed Decision
Indian equities witnessed a sharp selloff on Wednesday, July 31, with stocks in the IT, metal, and realty sectors falling over 1% each Indian equities witnessed a sharp selloff on Wednesday, July 31, with stocks in the IT, metal, and realty sectors falling over 1% each in early trade. The broader indices mirrored the weakness—Sensex declined 460 points to hover around 81,022, while Nifty dropped 141 points to 24,714. The decline came amid a double whammy of geopolitical and macroeconomic developments. Investor sentiment was hit after US President Donald Trump, in a post on Truth Social, announced a sweeping 25% tariff and additional penalties on Indian imports. While calling India a 'friend," he criticized New Delhi for maintaining some of the 'highest tariffs in the world" and penalized it for continuing trade ties with Russia, particularly in the defence and energy sectors. The timing of the move—just ahead of the August 1 trade framework rollout—has added to concerns about deteriorating bilateral ties. The Nifty IT index fell 1% to 35,161, snapping a two-day winning streak. Major laggards included Coforge and Wipro, both down nearly 2%, while Infosys, Mphasis, and Tata Consultancy Services slipped over 1% each. Persistent Systems, Tech Mahindra, and HCL Tech also traded lower. Bhavik Joshi, Business Head at INVasset PMS, noted that IT stocks remain under pressure due to continued demand uncertainty. 'The recent wave of layoffs and hiring freezes signals that the demand environment is still weak. Budget cuts and delayed decision-making by global clients are adding to the drag. A second-half recovery now appears more delayed than previously hoped," he said. Metal Stocks in the Red The Nifty Metal index also lost nearly 1%, falling to 9,331. Hindustan Copper was the top loser, tumbling over 4% to ₹247. Adani Enterprises declined nearly 1.5% ahead of its Q1 FY26 earnings release. Other notable losers included NMDC, Jindal Steel & Power, Hindustan Zinc, and Welspun Corp, each down more than 1%. Stocks such as Vedanta, Hindalco, Tata Steel, and SAIL traded with marginal losses. Joshi noted that while metals are currently under pressure due to tariff-related concerns, the broader setup remains potentially favourable. 'With global stimulus chatter gaining pace and inventories remaining low, we could see a sharp reversal once the trade uncertainty clears," he added. Nifty Realty also dropped over 1% to trade around 907, marking its second straight day of losses. Sobha led the fall with a 2.1% drop, followed by Oberoi Realty, Phoenix Mills, and Raymond, each slipping nearly 2%. Prestige Estates and Anant Raj fell over 1%, while DLF and Brigade Enterprises were marginally lower. Despite the weakness, Joshi remains optimistic about the sector's outlook. 'Real estate is quietly gaining traction. Rising institutional interest, strong pre-sales, and improving rental yields indicate there is real demand in the premium residential and commercial segments, not just speculation," he said. Analysts suggest traders maintain a cautious stance amid the volatility. 'Given the heightened uncertainty and mixed technical signals, traders should adopt a 'sell-on-rise' approach and manage risk through tight trailing stop losses. Only initiate fresh long positions if Nifty sustains above the 25,000 mark," said Hardik Matalia, Derivative Analyst at Choice Equity Broking. Meanwhile, Utsav Verma, Head of Research – Institutional Equities at Choice Broking, said there is still room for optimism. 'We believe the tariff rate may eventually settle around 15%, which would restore investor confidence and pave the way for stronger trade ties. In the short term, markets may remain rangebound but are likely to stay earnings-focused rather than reacting with panic." About the Author Aparna Deb Aparna Deb is a Subeditor and writes for the business vertical of She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, More Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Standard
a day ago
- Business
- Business Standard
Mphasis Ltd gains for third straight session
Mphasis Ltd is quoting at Rs 2818, up 1.58% on the day as on 12:49 IST on the NSE. The stock is down 2.58% in last one year as compared to a 0.37% slide in NIFTY and a 13.2% slide in the Nifty IT index. Mphasis Ltd is up for a third straight session today. The stock is quoting at Rs 2818, up 1.58% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.15% on the day, quoting at 24858.35. The Sensex is at 81500.48, up 0.2%. Mphasis Ltd has slipped around 2.2% in last one month. Meanwhile, Nifty IT index of which Mphasis Ltd is a constituent, has slipped around 8.69% in last one month and is currently quoting at 35373.25, up 0.24% on the day. The volume in the stock stood at 3.68 lakh shares today, compared to the daily average of 5.14 lakh shares in last one month. The benchmark July futures contract for the stock is quoting at Rs 2815.9, up 1.71% on the day. Mphasis Ltd is down 2.58% in last one year as compared to a 0.37% slide in NIFTY and a 13.2% slide in the Nifty IT index. The PE of the stock is 37.29 based on TTM earnings ending June 25.
News18
2 days ago
- Business
- News18
TCS Likely To Suspend Salary Hikes, Freeze Hiring Amid Cost-Cutting Drive: Report
The development comes close on the heels of Tata Consultancy Services' decision to lay off around 12,000 employees, a move that has sent ripples across the IT sector. Tata Consultancy Services (TCS) is likely to initiate a sweeping cost-cutting overhaul, freezing hiring of experienced professionals and suspending annual salary hikes worldwide, according to a report by The Economic Times. The development comes close on the heels of the company's decision to lay off around 12,000 employees, a move that has sent ripples across the IT sector. TCS has also tightened its internal policies for benched employees, staffers not currently assigned to any client project. These employees now have just 35 days to secure a billable assignment or exit the company, and the phased reduction of such staff is already underway in cities like Hyderabad, Pune, Chennai, and Kolkata. ET report said. These changes are part of a broader operational reset prompted by global macroeconomic uncertainty and subdued trade sentiment. An internal communication to employees cited the need to manage costs more aggressively to maintain competitiveness. A senior IT analyst quoted in the report estimated that the layoffs at mid- and senior levels alone could help TCS save $300-400 million annually, equivalent to around Rs 2,400-3,600 crore, providing a 100-150 basis point boost to operating margins. Despite the major shake-up, TCS CEO is reported to have assured that the layoffs will be implemented gradually, minimising immediate disruption. The restructuring has sparked concern across the Indian IT industry, with analysts calling it a warning signal of deeper structural changes. Brokerage firm Jefferies described the development as a 'canary in the coal mine" moment, suggesting that rising AI adoption and cost-focused contracts are prompting IT firms to do more with fewer people. The firm also warned that while the strategy might improve margins, it could lead to execution challenges and higher attrition in the long run. TCS stock performance reflects the pressure. It has fallen nearly 30% over the past year, making it one of the weakest performers in the Nifty IT index. On a year-to-date basis, the stock is down 25%, with nearly 12% lost in just the past month. As India's largest IT services company tightens its belt, the industry is bracing for further changes that may reshape hiring, compensation, and workforce strategy across the sector. TCS lost Rs 28,148.72 crore from its market valuation in two days after the company announced that it will lay off about 12,000 employees of its global workforce this year. Its mcap stands at nearly Rs 11,05,886.54 crore. The IT giant is set to lay off about 2 per cent, or 12,261 employees, of its global workforce this year, with the majority of those impacted belonging to middle and senior grades. As of June 30, 2025, the TCS workforce stood at 6,13,069. It increased its workforce by 5,000 in the recently concluded June quarter. The layoffs are part of the company's broader strategy to become a 'future-ready organisation", focusing on investments in technology, AI deployment, market expansion, and workforce realignment, TCS said in a statement. 'Towards this, a number of reskilling and redeployment initiatives have been underway. As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible. This will impact about 2 per cent of our global workforce, primarily in the middle and the senior grades, over the course of the year," it said. tags : Tata Consultancy Services (TCS) tcs view comments Location : New Delhi, India, India First Published: July 30, 2025, 13:06 IST News business TCS Likely To Suspend Salary Hikes, Freeze Hiring Amid Cost-Cutting Drive: Report Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
2 days ago
- Business
- Time of India
Cover short positions, a break above 24,890 needed to confirm bullish reversal: Vinay Rajani
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads , AVP, Senior Technical & Derivative Analyst, says following a significant 1,000-point decline, the index has now arrived at a support zone, with derivative data indicating an oversold condition. Rajani suggests covering short positions and awaiting market stabilization. While the overall positional trend remains weak due to the existing lower tops and bottoms formation, a break above 24,890 is needed to confirm a bullish reversal Nifty has already witnessed more than 1,000 points fall from the recent swing high of 25,670 and now Nifty has reached the crucial support band around 24,500 to 24,600. So, there is a 100 days EMA, today's low which is around 24,598, also happens to be the 100-day exponential moving average for the Nifty. So, that is also a crucial support and as we all know, in the month of June also, there was a huge consolidation and long consolidation was there and the base which was there in the month of June for Nifty was around there and the base in June for Nifty was around 24,500. So, the 24,500-24,600 zone is a very crucial we all know that the long to short ratio by FIIs in index futures has also been in the oversold territory . Yesterday's ratio was 0.17. They have been carrying short positions for a long time and this is an oversold number and anytime soon we can see the covering of their shorts by the FIIs in the index future. So, after a 1,000 points fall, now the index has reached the support zone and derivative data is also suggesting some oversold is the time to cover your shorts and wait for some stable market. However, the positional trend of the market will remain weak because as we all know the lower tops, lower bottom formation is still intact, and the previous swing low was 24,890 odd. We are waiting for that to be taken out on the upside to confirm the bullish reversal. But yes, if not going long, but at least short should be covered at this point of time because the Nifty has reached the strong support and we cannot rule out the possibility of the bounce-back from this the largecap IT underperformance in July itself, the Nifty IT index is down by 10% because of the performance of TCS, HCL Tech and Infosys. For the last four consecutive weeks, the IT index has been falling from the high of 39,500. The Nifty IT index has come down to 35,100. So yes, going by history, July has been the best month for the IT index. But this is a reverse case in 10 years where we have seen a significant underperformance by the IT now, after falling for the last five consecutive weeks from healthy corrections, it has reached an oversold territory. The risk-reward ratio is not favourable for going short here. We are waiting for some stability to come. If consolidation is there or if price stops falling from here, then we have a hope of a bounce back in the index because a healthy fall of 10% in July is quite significant and whatever negatives were to come from the results, has already been discounted in the prices. Till now, the trend has been negative. It is still negative, but we are waiting and we are expecting that anytime soon a bounce would come. Whether it will sustain or not, we will decide later on, but the trend is weak but at this point of time, going short risk-reward is not of the result on Tuesday, the stock has recovered from the lower level and if I were to purely go by the technical charts, this pattern is known as a flag pattern breakout. If the stock closes here, then it will confirm the pattern. After some running correction, the stock has resumed the uptrend and is now up by 1.5% and the stock has also surpassed the 50 days' exponential moving average resistance last setup is quite good, recovering from the lower levels and gradually getting strength. Tuesday's low of 478 becomes the strong support for the counter and should be kept as a trading stop loss in the counter. Looking at the chart, it looks like that it should extend the rise from here and in trading, one should have a stop loss of we are bullish on the chemical and agrochemical space and as the results have been coming out very positive, the resilience in these agrochem and chemical stocks has been very good. Rallis India is one of the stocks which we like, results were quite convincing, and the technical setup is quite convincing. Rallis India can be bought at around 378, 379. 370 should be the trailing stop loss and 395 should be the near-term second pick would be from the metal space. On Tuesday, metal resumed an uptrend and is likely to do well in the coming session also. JSW Steel is looking good on the chart. So, 1045 around level one can go long. I would suggest a trailing stop loss at 1030. On the upside, I am expecting a target at 1070.
Business Standard
2 days ago
- Business
- Business Standard
Tech Mahindra Ltd slips for fifth straight session
Tech Mahindra Ltd is quoting at Rs 1444.2, down 0.44% on the day as on 13:19 IST on the NSE. The stock tumbled 6.1% in last one year as compared to a 0.5% slide in NIFTY and a 13.63% fall in the Nifty IT index. Tech Mahindra Ltd is down for a fifth straight session today. The stock is quoting at Rs 1444.2, down 0.44% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.21% on the day, quoting at 24733.65. The Sensex is at 81039.68, up 0.18%.Tech Mahindra Ltd has lost around 14.39% in last one Nifty IT index of which Tech Mahindra Ltd is a constituent, has eased around 9.58% in last one month and is currently quoting at 35370.05, down 0.43% on the day. The volume in the stock stood at 7.42 lakh shares today, compared to the daily average of 21.07 lakh shares in last one month. The benchmark July futures contract for the stock is quoting at Rs 1444.8, down 0.41% on the day. Tech Mahindra Ltd tumbled 6.1% in last one year as compared to a 0.5% slide in NIFTY and a 13.63% fall in the Nifty IT index. The PE of the stock is 35.28 based on TTM earnings ending June 25.
