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Business Standard
13 hours ago
- Business
- Business Standard
Barometers trade in negative terrain; European mrkt advance
The key equity benchmark traded with moderate losses in afternoon trade, as mixed global sentiment weighed on investor confidence. Investors remained cautious, adopting risk-off approach. The Nifty traded below the 25,500 level. Realty, PSU Bank and oil & gas shares declined while metal, consumer durables and auto shares advanced. At 13:27 IST, the barometer index, the S&P BSE Sensex declined 378.04 points or 0.45% to 83,319.25. The Nifty 50 index lost 126.15 points or 0.49% to 25,415.70. In the broader market, the S&P BSE Mid-Cap index declined 0.58% and the S&P BSE Small-Cap index fell 0.44%. The market breadth was negative. On the BSE, 1,623 shares rose and 2,284 shares fell. A total of 170 shares were unchanged. Gainers & Losers: Tata Steel (up 3.18%), JSW Steel (up 2.87%), Ultratech Cement (up 2.39%), Maruti Suzuki India (up 1.05%) and Tata Motors (up 1.02%) were the major Nifty50 gainers. Bajaj Finserv (down 2.52%), Shriram Finance (down 2.51%), Bajaj Finance (down 1.98%), Bharat Electronics (BEL) (down 1.91%) and Indusind Bank (down 1.62%) were the major Nifty50 losers Stocks in Spotlight: Dev Information Technology (DEVIT) advanced 1.29% after the company announced that it has secured significant orders worth approximately Rs 4.4 crore from Alivus Lifesciences. Lupin shed 0.81%. The company announced that it has received approval from the United States Food and Drug Administration (U.S. FDA) for its abbreviated new drug application (ANDA) for Loteprednol Etabonate Ophthalmic Gel, 0.38% Adani Ports & Special Economic Zone (APSEZ) shed 0.36%. The company handled 41.3 MMT of total cargo volumes in June 2025, up 12% year-on-year (YoY) basis. For the quarter ended 30th June 2025, APSEZ handled 120.6 MMT of total cargo, up11% YoY, led by containers (up 19% YoY). Paras Defence and Space Technologies added 2.92% after the companys subsidiary, Paras Anti-Drone Technologies has received a Rs 22.21 crore letter of intent (LoI) from Frances Cerbair to supply 30 units of its CHIMERA 200 anti-drone system. Dreamfolks Services declined 4.32% following the closure of the programs run for its clients including Axis Bank, ICICI Bank, effective from 1 July 2025. South Indian Bank fell 1.77%. The company said that its gross advances jumped 8.02% to Rs 89,201 crore as of 30 June 2025 as against Rs 82,580 crore as of 30 June 2024. Asian Paints slipped 0.72%. The Competition Commission of India (CCI) ordered an investigation into the company for allegedly abusing its dominant position in the decorative paints market. The move came following a complaint by Grasim Industries, which has recently entered the sector under its Birla Opus Paints brand. The complaint claimed that the company was discouraging distributors from selling Birla Opus products by offering incentives such as foreign travel and discounts in exchange for exclusivity. Global Markets: European market advanced as investors remained focused on the European Central Bank forum in Sintra, Portugal, on Wednesday, with ECB President Christine Lagarde due to address policymakers today Most Asian stocks declined on Wednesday as investors evaluated recent comments from U.S. Federal Reserve Chair Jerome Powell. Powell stated on Tuesday that the central bank would have already cut interest rates if not for U.S. President Donald Trump's tariff policies. In Singapore, stocks touched a record high on Wednesday morning, supported by local market strength despite broader global uncertainty. Overnight in the United States, major indices ended the session with mixed results. The S&P 500 dipped 0.11% and the Nasdaq Composite declined 0.82%. In contrast, the Dow Jones Industrial Average rose 0.91%, reflecting some rotation into blue-chip stocks. Investor sentiment remained cautious ahead of the July 9 tariff deadline, when reciprocal tariffs are scheduled to be reimposed unless a resolution is reached. Tesla shares dropped 5.3% after President Trump criticized CEO Elon Musk, claiming he has benefited disproportionately from government subsidies. Trump also called for a review of Teslas federal support. The tension follows Musks public criticism of a large tax and spending bill, which narrowly passed in the Senate on Tuesday. The bill is expected to add approximately 3.3 trillion dollars to the national debt. It now moves to the House of Representatives for further consideration, with President Trump aiming to sign it into law by the July 4 holiday. Traders are now focused on Thursday's U.S. nonfarm payrolls report, which may influence the Federal Reserve's decision on a potential rate cut in July.
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Business Standard
a day ago
- Business
- Business Standard
Nifty holds bullish trend; two breakout stocks with up to 6% returns
Nifty View In a largely subdued trading session, the Nifty experienced a muted performance, remaining confined within the previous day's range. After an initial hour of volatility, the index saw minimal swings throughout the remainder of the session, ultimately closing with a modest gain of 24 points, or 0.10 per cent, at 25,541. Despite this quiet day, Nifty's overarching trend remains bullish, as it continues to hold above all its key moving averages. Looking ahead, the level of 24,450 is expected to act as short-term support, while 25,670 could offer resistance to the index. Track LIVE Stock Market Updates Here Buy Bank of Maharashtra CMP: ₹58.3 | SL: ₹54.7 | Target: ₹61.7 The stock price has broken out from a bullish 'Flag' pattern on the weekly chart. Short-term moving averages are trading above medium- and long-term moving averages, indicating bullish momentum. PSU Bank index has surpassed the previous swing resistance. Buy Maharashtra Seamless CMP: ₹758 | SL: ₹743 | Target: ₹796
Business Standard
2 days ago
- Business
- Business Standard
Barometers trade range bound; European mrkt lower
The domestic equity indices continued to trade flat in afternoon trade, despite optimism over a potential US-India trade deal and favorable global cues. Focus remained on foreign inflows and the upcoming end of the US tariff reprieve. The Nifty traded above the 25,500 level. PSU Bank and oil & gas stocks advanced while media, realty and pharma shares declined. At 13:25 IST, the barometer index, the S&P BSE Sensex, advanced 40.93 points or 0.05% to 83,644.34. The Nifty 50 index added 9.40 points or 0.03% to 25,527.10. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.43% and the S&P BSE Small-Cap index fell 0.42%. The market breadth was negative. On the BSE, 1,835 shares rose and 2,086 shares fell. A total of 151 shares were unchanged. Economy: The seasonally adjusted HSBC India Manufacturing Purchasing Managers Index (PMI) rose to a 14-month high of 58.4 in June, up from 57.6 in May. The headline figure was above its long-run average of 54.1 and pointed to a substantial improvement in the health of the sector. The manufacturing sector experienced a strong end to the first fiscal quarter, marked by improved trends in output and new orders, alongside a record upturn in employment. June also saw a quicker upturn in new order inflows. The rate of expansion was the strongest in close to a year. According to panel members, the increase was supported by marketing efforts and a substantial rise in exports. Indias industrial output growth fell to a nine-month low of 1.2% in May 2025, dragged down by weak performance in the manufacturing, mining, and electricity sectors, data released by the National Statistical Office (NSO) on Monday showed. The factory output, measured by the Index of Industrial Production (IIP), had grown 6.3% in May 2024, while the April 2025 estimate has been revised to 2.6%, slightly down from the earlier 2.7%. According to the data, manufacturing which forms over three-fourths of the IIP grew 2.6% in May, down from 5.1% a year ago. Mining output shrank 0.1%, reversing a 6.6% expansion in May last year. Electricity generation saw a sharp contraction of 5.8% compared to a robust 13.7% growth a year ago. India's gross collection of goods and services tax (GST) hit an all-time high of Rs 22.08 lakh crore in the financial year 2024-25, marking a 9.4% year-on-year (YoY) growth compared to the previous financial year, according to an official statement on Monday, 30 June 2025. On 1 July 2025, India will mark the completion of eight years since the implementation of the GST. Indias fiscal deficit for the first two months of FY26 stood at Rs 13,163 crore, or just 0.8% of the full-year target of Rs 15.69 lakh crore, according to data released by the Controller General of Accounts on Monday. The year-ago deficit for the same period was significantly higher at Rs 50,600 crore. Gainers & Losers: Apollo Hospitals Enterprise (up 3.13%), Bharat Electronics (BEL) (up 2.25%), Indusind Bank (up 1.97%), Reliance Industries (up 1.82%) and Jio Financial Services (up 1.24%) were the major Nifty50 gainers. Axis Bank (down 2.37%), Nestle India (down 2.05%), Eternal (down 1.44%), Shriram Finance (down 1.40%) and Trent (down 1.09%) were the major Nifty50 losers Stocks in Spotlight: VST Tillers Tractors added 1.32% after the companys total sales surged 92.69% to 7,149 units in June 2025 from 3,710 units sold in June 2024. Escorts Kubota shed 0.20%. The company said that its Agri Machinery Business has sold 11,498 tractors in June 2025, registering a growth of 2.2% as compared with 11,245 tractors sold in June 2024. Nesco rose 2.19% after the company said that its board has approved a capex of up to Rs 3,500 crore for for development of Tower 2 in IT Park at Nesco Center, Goregaon. Steel Strips Wheels (SSWL) slipped 4.40% after the company reported a net turnover of Rs 350.67 crore for June 2025, down 2.08% YoY growth compared to Rs 358.11 crore posted in June 2024. NMDC fell 3.10% after the state-owned iron ore miner informed that it has reduced the prices of its lump ore and fines, with the effect from 1 July, 2025. Bajaj Auto rose 0.23%. The company has reported total auto sales of 3,60,806 units for June 2025, which is higher by 1% as compared with the figure of 3,58,477 units recorded in June 2024. Kalpataru Projects International declined 1.64. The company along with its international subsidiaries, has secured new orders worth approximately Rs 989 crore. Global Markets: Most European markets traded lower ahead of euro zone inflation print. Asian shares traded mixed on Tuesday as investors evaluated record highs on Wall Street and the potential global effects of U.S. President Donald Trump's tariff policies. The 90-day tariff reprieve is set to expire next week. U.S. Treasury Secretary Scott Bessent stated on Monday that "countries are negotiating in good faith." However, he cautioned that tariffs could return to the levels announced on April 2 if talks do not progress due to what he described as "recalcitrant" behavior. Hong Kong market remained closed for a public holiday. In mainland China, the Caixin Manufacturing PMI rose to 50.4 in June, a significant improvement from Mays reading of 48.3. A PMI reading above 50 indicates expansion. This data follows the official government PMI, which showed a third consecutive monthly contraction in Chinese manufacturing activity for June. On Wall Street, the S&P 500 gained 0.52% to close at another record high. The NASDAQ Composite rose 0.47%, also reaching a new peak, while the Dow Jones Industrial Average climbed 0.63%. The gains were supported by news of a trade agreement between the United States and China. The agreement raised optimism that further trade deals could be finalized before the July 9 deadline set by President Trump. Investor sentiment also received a boost after Canada withdrew its digital services tax on technology companies. The tax was scheduled to take effect within hours but was suspended in an effort to revive trade discussions with the United States. President Trump had previously cited the tax as a barrier to negotiations. Canadian Prime Minister Mark Carney and President Trump are now expected to meet with the goal of finalizing a trade agreement by July 21.
Business Standard
2 days ago
- Business
- Business Standard
Indices edge higher; breadth strong
The domestic equity indices traded with moderate gains in early trade, driven by optimism over a potential US-India trade deal and positive global cues. Continued inflows from foreign institutional investors further boosted market sentiment. Investors will monitor monthly auto sales data and few economic data this week The Nifty traded above the 25,550 mark. Oil & gas, realty and IT shares advanced while PSU Bank, media and metal stocks declined. At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 188.01 points or 0.22% to 83,796. The Nifty 50 index added 58.75 points or 0.23% to 25,570.65. In the broader market, the S&P BSE Mid-Cap index rose 0.15% and the S&P BSE Small-Cap index jumped 0.19%. The market breadth was strong. On the BSE 1,961 shares rose and 921 shares fell. A total of 177 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.01% to 12.65. Foreign portfolio investors (FPIs) sold shares worth 831.50 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,497.44 crore in the Indian equity market on 30 June 2025, provisional data showed. Economy: Indias industrial output growth fell to a nine-month low of 1.2% in May 2025, dragged down by weak performance in the manufacturing, mining, and electricity sectors, data released by the National Statistical Office (NSO) on Monday showed. The factory output, measured by the Index of Industrial Production (IIP), had grown 6.3% in May 2024, while the April 2025 estimate has been revised to 2.6%, slightly down from the earlier 2.7%. According to the data, manufacturing which forms over three-fourths of the IIP grew 2.6% in May, down from 5.1% a year ago. Mining output shrank 0.1%, reversing a 6.6% expansion in May last year. Electricity generation saw a sharp contraction of 5.8% compared to a robust 13.7% growth a year ago. India's gross collection of goods and services tax (GST) hit an all-time high of Rs 22.08 lakh crore in the financial year 2024-25, marking a 9.4% year-on-year (YoY) growth compared to the previous financial year, according to an official statement on Monday, 30 June 2025. On 1 July 2025, India will mark the completion of eight years since the implementation of the GST. Indias fiscal deficit for the first two months of FY26 stood at Rs 13,163 crore, or just 0.8% of the full-year target of Rs 15.69 lakh crore, according to data released by the Controller General of Accounts on Monday. The year-ago deficit for the same period was significantly higher at Rs 50,600 crore. Stocks in Spotlight: Hindustan Copper (HCL) shed 0.36%. The company has executed a MoU with Coal India (CIL) to jointly identify and evaluate opportunities in copper and critical minerals sectors, and to explore participation in partnerships with renowned global companies in these sectors. Bharat Electronics (BEL) advanced 0.71%. The company has secured additional orders worth Rs 528 crore. The order received includes radars, communication equipment, EVMs, jammers, shelters, control centre, spares, services etc. Can Fin Homes rose 0.16%. The companys board approved the appointment of Abhishek Mishra as the chief financial officer (CFO) for a period of 3 years from 30 June 2025. Prashanth Joishy has stepped down from the position of Interim Chief Financial Officer (CFO) with effective from 30 June 2025. He will continue to be on the rolls of the company as deputy general manager. Numbers to Track: In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.5825 compared with its close of 85.7600 during the previous trading session. MCX Gold futures for 3 October 2025 settlement rose 0.65% to Rs 97,550. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 96.71. The United States 10-year bond yield added 0.29% to 4.214. Global Markets: Most Asian shares advanced on Tuesday as investors evaluated record highs on Wall Street and the potential global effects of U.S. President Donald Trump's tariff policies. The 90-day tariff reprieve is set to expire next week. U.S. Treasury Secretary Scott Bessent stated on Monday that "countries are negotiating in good faith." However, he cautioned that tariffs could return to the levels announced on April 2 if talks do not progress due to what he described as "recalcitrant" behavior. Hong Kong market remained closed for a public holiday. In mainland China, the Caixin Manufacturing PMI rose to 50.4 in June, a significant improvement from Mays reading of 48.3. A PMI reading above 50 indicates expansion. This data follows the official government PMI, which showed a third consecutive monthly contraction in Chinese manufacturing activity for June. On Wall Street, the S&P 500 gained 0.52% to close at another record high. The NASDAQ Composite rose 0.47%, also reaching a new peak, while the Dow Jones Industrial Average climbed 0.63%. The gains were supported by news of a trade agreement between the United States and China. The agreement raised optimism that further trade deals could be finalized before the July 9 deadline set by President Trump. Investor sentiment also received a boost after Canada withdrew its digital services tax on technology companies. The tax was scheduled to take effect within hours but was suspended in an effort to revive trade discussions with the United States. President Trump had previously cited the tax as a barrier to negotiations. Canadian Prime Minister Mark Carney and President Trump are now expected to meet with the goal of finalizing a trade agreement by July 21.
Business Standard
6 days ago
- Business
- Business Standard
Barometers trade with tiny gains; broader mkt outperforms
The key equity indices continued to trade near the flatline with some positive bias in the morning trade. The Nifty traded above the 25,550 mark. PSU Bank shares gained for a fourth day in a row. At 10:29 ST, the barometer index, the S&P BSE Sensex, rose 16.43 points or 0.02% to 83,771.21. The Nifty 50 index added 6.95 points or 0.03% to 25,557.75. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.57% and the S&P BSE Small-Cap index added 0.66%. The market breadth was strong. On the BSE, 2,278 shares rose and 1,061 shares fell. A total of 155 shares were unchanged. Buzzing Index: The Nifty PSU Bank index added 0.90% to 7,045.35. The index rallied 3% in the four trading sessions. Punjab & Sind Bank (up 1.19%), Bank of Baroda (up 1.14%), Bank of Maharashtra (up 1.13%), Bank of India (up 1%) and State Bank of India (up 0.9%), Punjab National Bank (up 0.79%), Union Bank of India (up 0.78%), Indian Overseas Bank (up 0.48%), Central Bank of India (up 0.39%) and UCO Bank (up 0.16%) added. Stocks in Spotlight: Deep Industries rose 0.55%. The company announced that it has secured an order worth Rs 45.33 crore from Oil India for the hiring of one Mobile Workover Rig Package. Associated Alcohols & Breweries jumped 4.83% after the company launched its premium blended malt whisky Hillfort in Uttar Pradesh, available across select retail outlets. Western Carriers (India) soared 7.78% after the company announced that it has secured a work order worth approximately Rs 230 crore from Jindal Stainless (JSL).
