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Business Standard
25-06-2025
- Business
- Business Standard
Sensex jumps 425 pts in early trade; Nifty above 25,150; VIX tanks 2.63%
The domestic equity indices traded with decent gains in early trade, buoyed by positive global cues. Easing tensions in the Middle East, following a tentative ceasefire between Israel and Iran, helped lift investor sentiment. The Nifty traded above the 25,150 mark. All NSE sectoral indices traded in the green, with consumer durables, oil & gas, and IT stocks seeing the strongest gains. At 09:30 IST, the barometer index, the S&P BSE Sensex, soared 424.45 points or 0.52% to 82,484.56. The Nifty 50 index advanced 117.85 points or 0.47% to 25,162.20. In the broader market, the S&P BSE Mid-Cap index rose 0.59% and the S&P BSE Small-Cap index added 1.05%. The market breadth was strong. On the BSE, 2,353 shares rose and 522 shares fell. A total of 141 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.63% to 13.28. Foreign portfolio investors (FPIs) sold shares worth 5,266.01 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,209.60 crore in the Indian equity market on 24 June 2025, provisional data showed. Stocks in Spotlight: PTC Industries rose 0.86%. The company's subsidiary, Aerolloy Technologies announced the memorandum of understanding (MoU) with Safran Aircraft Engines to develop cooperation on the manufacturing of components and materials for military aircraft engines. Mastek rose 1.10%. The company's chief financial officer, Raghavendra Jha has submitted his resignation from the services. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.16% to 6.261 from the previous close of 6.247. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.9250 compared with its close of 86.0500 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.24% to Rs 97,252. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 97.97. The United States 10-year bond yield added 0.26% to 4.301. In the commodities market, Brent crude for July 2025 settlement rose 87 cents or 1.30% to $68.01 a barrel. Global Markets: Asian shares were mixed on Wednesday, as investors digested news of a potential ceasefire between Israel and Iran alongside fresh signals from the U.S. Federal Reserve. Optimism is building around a U.S.-brokered truce, with President Donald Trump reportedly playing a key role in facilitating the agreement. On Wall Street, sentiment was upbeat overnight. All three major indices ended higher, buoyed by easing geopolitical tensions and dovish hints from the Fed. The Dow Jones Industrial Average rose 1.19%, the S&P 500 added 1.11%, and the tech-heavy Nasdaq climbed 1.43%. Fed Chair Jerome Powell, speaking Tuesday, struck a cautious but calm tone. He reaffirmed the central banks focus on curbing inflation but noted that policymakers were in no rush to tweak rates. Powell said the Fed was well positioned to wait to learn more about the likely course of the economy before making any moves, especially as the impact of tariffs on pricing remains uncertain.
Business Standard
09-06-2025
- Business
- Business Standard
Nifty above 25,100 level; PSU bank shares in demand
The key equity benchmarks continued to trade with modest gains in morning trade. The Nifty traded above the 25,100 level. PSU bank shares extended gains for the second consecutive session. At 10:30 IST, the barometer index, the S&P BSE Sensex, added 375.52 points or 0.46% to 82,564.51. The Nifty 50 index rose 120.90 points or 0.48% to 25,121.20. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.88% and the S&P BSE Small-Cap index added 0.93%. The market breadth was strong. On the BSE, 2,675 shares rose and 1,106 shares fell. A total of 220 shares were unchanged. Economy: Indias forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday. For the week ended May 30, foreign currency assetsa major component of the reservesfell $1.952 billion to $584 billion, according to the RBI data. The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said. Indias reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed. Buzzing Index: The Nifty PSU Bank index rose 1.71% to 7,222.05. The index rose 2.3% in the past two consecutive trading sessions. UCO Bank (up 4.34%), Bank of India (up 4.2%), Indian Overseas Bank (up 3.71%), Punjab & Sind Bank (up 3.61%), Bank of Maharashtra (up 3.49%), Union Bank of India (up 2.75%), Canara Bank (up 2.63%), Central Bank of India (up 2.54%), Punjab National Bank (up 2.28%), and Indian Bank (up 2.14%) advanced. Stocks in Spotlight: PNC Infratech added 3.52% after the company received a letter of acceptance (LOA) worth Rs 239.94 crore from PWD-Rajasthan for the construction of a flyover in Bharatpur, Rajasthan. Mahindra EPC Irrigation rose 1.39% after the firm received an order worth Rs 4.32 crore from the water resources department for allied works related to the implementation of a community micro irrigation project. Lupin rose 0.05%. The company announced that it has received tentative approval from the U.S. Food and Drug Administration (US FDA) for its abbreviated new drug application for oxcarbazepine extended-release (ER) tablets.
Business Standard
06-06-2025
- Business
- Business Standard
Nifty above 24,950; metal shares shine
The domestic equity barometers traded with strong gains in early afternoon trade after the RBI cut the repo rate by 50 bps to 5.50%, amid a favorable domestic environment. Looking ahead, the MPC will closely monitor evolving domestic and global conditions to guide future policy moves. Market participants are also closely tracking bond markets and global trade dynamics. The Nifty traded above the 24,950 mark. The higher-than-expected 50 bps rate cut decision by the MPC, though positive for growth, is slightly negative from the market perspective for the near term. The change in monetary stance from accommodative to neutral also indicates that more rate cuts are unlikely unless the situation warrants. This big rate cut will impact the margins of the banks, and therefore, bank stocks will be under pressure in the near term. However, the anticipated boost to credit growth could help offset the decline in margins over time. Metal stocks extend gains for the third straight session. At 12:30 IST, the barometer index, the S&P BSE Sensex, surged 737.14 points or 0.91% to 82,179.18. The Nifty 50 index jumped 241.45 points or 0.97% to 24,994.65. In the broader market, the S&P BSE Mid-Cap index rose 0.59% and the S&P BSE Small-Cap index added 0.43%. The market breadth was positive. On the BSE, 2,142 shares rose and 1,697 shares fell. A total of 186 shares were unchanged. The Reserve Bank of India (RBI) cut the policy repo rate by 50 basis points to 5.50%, signaling a shift in its monetary policy stance from accommodative to neutral. The decision, announced at the conclusion of the Monetary Policy Committees (MPC) 55th meeting held from June 4 to 6, 2025, was driven by easing inflation and a stable growth outlook. With the rate cut coming into effect immediately, the standing deposit facility (SDF) rate now stands at 5.25%, while the marginal standing facility (MSF) rate and the bank rate are adjusted to 5.75%. This decision is in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth. The RBI maintained its real GDP growth projection for FY26 at 6.5%, with quarterly growth seen at 6.5% in Q1, 6.7% in Q2, 6.6% in Q3, and 6.3% in Q4. On the inflation front, the RBI revised its forecast downward to 3.7% for FY26 from the earlier estimate of 4%. Quarterly projections suggest CPI inflation at 2.9% in Q1, 3.4% in Q2, 3.9% in Q3, and 4.4% in Q4. The RBI cited broad-based moderation in inflation over the past six months, with headline CPI now well below target. It noted that both food and core inflation are expected to remain soft, helped by easing global commodity prices amid a global growth slowdown. Looking ahead, the MPC emphasized a data-dependent approach, stating it will closely monitor evolving domestic and global conditions to guide future policy moves. The minutes of the MPC meeting will be released on June 20, and the next policy meeting is scheduled from August 4 to 6, 2025. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.97% to 15.14.94. The Nifty 26 Jun 2025 futures were trading at 25,078.30, at a premium of 83.65 points as compared with the spot at 24,611.95. The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 54.1 lakh contracts at the 26,000 strike price. A maximum put OI of 53.5 lakh contracts was seen at 24,000 strike price. Buzzing Index: The Nifty Metal index rose 1.32% to 9,353.55. The index added 2.53% in the past three trading sessions. JSW Steel (up 4.08%), Jindal Stainless (up 2.59%), Hindustan Zinc (up 1.91%), National Aluminium Company (up 1.67%), Welspun Corp (up 1.66%), Hindustan Copper (up 1.63%), NMDC (up 1.62%), Adani Enterprises (up 1.45%), Jindal Steel & Power (up 1.11%) and Hindalco Industries (up 1.09%) advanced. On the other hand, Lloyds Metals & Energy (down 2.75%), Tata Steel (down 0.97%) and APL Apollo Tubes (down 0.64%) edged lower. Stocks in Spotlight: Max Estates rose 2.01% after its board approved a material related party transaction between Max Estates Gurgaon Two (Developer), a wholly-owned subsidiary, and Antara Senior Living (ASLL), a wholly-owned subsidiary of Max India. Praj Industries rose 2.87% after the company secured an international assignment from Enersur SA, one of Paraguays leading renewable energy firms, to develop a fully integrated biorefinery project in the South American nation. Brigade Enterprises rose 2.51% after the companys wholly owned subsidiary, Brigade Tetrarch, announced the incorporation of a Limited Liability Partnership (LLP) named Auraterra Developers LLP.
Business Standard
05-06-2025
- Business
- Business Standard
Nifty climbs above 24,700 level; pharma shares rally for 2nd day
The key benchmark indices traded with moderate gains in morning trade, supported by buying interest amid positive global sentiment. While investors await the outcome of the RBI policy meeting later this week, they are also closely monitoring bond markets, Brent crude trends, and global trade developments. The Nifty traded above the 24,700 level. Pharma shares rallied for the second consecutive trading sessions. At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 357.15 points or 0.44% to 81,355.40. The Nifty 50 index added 117 points or 0.48% to 24,730.65. In the broader market, the S&P BSE Mid-Cap index rose 0.41% and the S&P BSE Small-Cap index added 0.68%. The market breadth was strong. On the BSE, 2,420 shares rose and 1,108 shares fell. A total of 210 shares were unchanged. Buzzing Index: The Nifty Pharma index jumped 1% to 21,585.35. The index increased 1.08% for the two consecutive trading sessions. Dr Reddys Laboratories (up 2.88%), Glenmark Pharmaceuticals (up 2.46%), Zydus Lifesciences (up 1.98%), Laurus Labs (up 1.76%), Lupin (up 1.74%), Aurobindo Pharma (up 1.48%), Cipla (up 1.23%), Natco Pharma (up 0.94%), Mankind Pharma (up 0.65%) and Alkem Laboratories (up 0.61%) advanced. Dr. Reddy's Laboratories rose 2.88% after the company announced a collaboration with Iceland-based Alvotech to co-develop and commercialize a biosimilar to Keytruda (pembrolizumab) for global markets. Stock in Spotlight: CESC shed 0.09%. The company said that its subsidiary, Purvah Green Power, has signed a framework agreement with Envision Energy India for the supply and commissioning of 1 GW wind turbine generators (WTGs)
Business Standard
23-05-2025
- Business
- Business Standard
Nifty climbs above 24,750 mark; IT shares jump
The key equity indices traded with significant gains in morning trade. The Nifty traded above the 24,750 mark. The market displayed resilience despite concerns over rising interest rates in the U.S. and the widening federal deficit. Traders are expected to closely monitor bond market movements and global economic developments. IT shares jumped after declining in the past trading session. At 10:27 IST, the barometer index, the S&P BSE Sensex, added 516.63 points or 0.64% to 81,467.04. The Nifty 50 index advanced 162.60 points or 0.66% to 24,771.80. In the broader market, the S&P BSE Mid-Cap index advanced 0.15% and the S&P BSE Small-Cap index jumped 0.15%. The market breadth was positive. On the BSE, 1,942 shares rose and 1,501 shares fell. A total of 216 shares were unchanged. Result Today: JSW Steel (up 0.99%), Aditya Birla Fashion and Retail (ABFRL) (up 0.33%), Afcons Infrastructure (down1.16%), AIA Engineering (down 0.93%), Anupam Rasayan India (up 1.32%), Apollo Micro Systems (down 3.02%), Ashoka Buildcon (up 0.05%), Ashok Leyland (up 0.50%), Azad Engineering (down 0.12%), Balkrishna Industries (up 0.56%), BEML (up 0.29%), Cello World (up 0.41%), Devyani International (down 0.50%), Dreamfolks Services (up 7.47%) will announce their results later today. Buzzing index: The Nifty IT index jumped 1.87% to 37,743.75. The index fell 1.31% in the past trading session. Persistent Systems (up 2.56%), Tech Mahindra (up 2.37%), Coforge (up 2.2%), Oracle Financial Services Software (up 2.15%), Infosys (up 2.15%), HCL Technologies (up 1.83%), Mphasis (up 1.73%), Wipro (up 1.61%), Tata Consultancy Services (up 1.24%) and LTIMindtree (up 1.1%) surged. Stock in Spotlight: Grasim Industries added 1.09% after the companys consolidated net profit increased 9.2% to Rs 1,545.99 crore in Q4 FY25 as compared with Rs 1,369.82 crore in Q4 FY24. Revenue from operations jumped 17.3% YoY to Rs 44,267.26 crore during the quarter ended 31st March 2025. Metro Brands jumped 8.23%. The company reported 38.9% decline in consolidated net profit to Rs 94.75 crore in Q4 FY25 as compared with Rs 155.17 crore in Q4 FY24. Net sales jumped 10.3% YoY to Rs 642.77 crore in Q4 FY25.
