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Business Standard
11 hours ago
- Business
- Business Standard
Indices snap 3-day losses; Nifty ends above 25,100 level
The key equity indices ended with significant gains today, snapping a three -day losing streak in a row, as market remained firm despite rising geopolitical tensions between Israel and Iran. Market sentiment is expected to stay sensitive to global cues, including crude oil prices, bond markets and other international developments. The Nifty ended above the 25,050 mark. All the sectoral indices on the NSE were ended in green with realty, banking shares and metal stocks leading the rally. As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 1,046.30 points or 1.29% to 82,408.17. The Nifty 50 index jumped 319.15 points or 1.29% to 25,112.40. In the broader market, the S&P BSE Mid-Cap index rose 1.20% and the S&P BSE Small-Cap index added 0.55%. The market breadth was strong. On the BSE, 2,469 shares rose and 1,474 shares fell. A total of 151 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 4.08% to 13.67. IPO Listing: Shares of Oswal Pumps were settled at Rs 625 on the BSE, representing a premium of 1.79% compared with the issue price of Rs 614. The scrip was listed at 632, exhibiting a premium of 2.93% to the issue price. The stock hit a high of 649.15 and a low of 621.90. On the BSE, over 14.52 lakh shares of the company were traded. IPO Update: The initial public offer (IPO) of Arisinfra Solutions received bids for 3,40,18,848 shares as against 1,30,84,656 shares on offer, according to stock exchange data at 15:30 IST on Friday (20 June 2025). The issue was subscribed 2.60 times. The issue opened for bidding on Wednesday (18 June 2025) and it will close on Friday (20 June 2025). The price band of the IPO is fixed between Rs 210 and 222 per share. An investor can bid for a minimum of 67 equity shares and in multiples thereof. Buzzing Index: The Nifty realty index jumped 2.11% to 1,013.65. The index fell 2.7% in the past three trading sessions. Macrotech Developers (up 4.78%), Phoenix Mills (up 3.49%), Godrej Properties (up 2.22%), Prestige Estates Projects (up 2.06%) and DLF (up 2%), Oberoi Realty (up 1.67%), Brigade Enterprises (up 0.8%) and Raymond (up 0.12%) advanced. Stocks in Spotlight: Sun TV Network fell 1.09% after a legal notice from DMK MP and former telecom minister Dayanidhi Maran to his brother, Sun TV chairman Kalanithi Maran, reignited a decades-old family dispute over the companys shareholding structure. The notice has been served not only to Kalanithi Maran but also to his wife, Kavery Kalanithi, and others involved in the company. Kalanithi Maran remains the majority shareholder, holding a 75% stake in the Chennai-based broadcaster. Dilip Buildcon rose 1.87% after the company announced that it has received a letter of acceptance (LoI) worth Rs 1,341 crore from Konkan Railway Corporation (KRCL). Uno Minda advanced 2.74% after the companys board has approved the setting up of a greenfield manufacturing facility for aluminium die casting in Sambhaji Nagar, Maharashtra for Rs 210 crore. Suzlon Energy rose 1.26% after the company has bagged its third successive order from Ampin Energy Transition (AMPIN) for the development of a 170.1 MW wind power project in Kurnool, Andhra Pradesh. TD Power Systems shed 0.18%. The company secured an order worth Rs 67 crore from a leading multinational corporation for the supply of components for traction motors meant for export. ITD Cementation India declined 1.33%. The company announced that it has secured two major contracts cumulatively valued at approximately Rs 960 crore, excluding GST. Shares of Power Finance Corporation (PFC) and REC rallied by 5.28 to 2.96% after the Reserve Bank of India (RBI) issued its final Project Finance Directions, 2025. Lenders will now set aside a standard 1% for such exposures, with a gradual increase depending on the length of DCCO deferment. In the case of under-construction commercial real estate, the initial provisioning will be slightly higher at 1.25%. For projects that have already achieved financial closure, existing provisioning rules will continue to apply, ensuring a smooth transition to the new regime. Global Markets: US Dow Jones futures were down 62 points, signaling a weak start for Wall Street. Wall Street was closed on Thursday for the Juneteenth holiday. European shares advanced on Friday, despite a sharp decline in U.K. retail spending. According to the Office for National Statistics, retail sales in the U.K. fell by 2.7% in May the steepest monthly drop since December 2023 as shoppers pulled back on spending. In addition to releasing retail sales data, the Office for National Statistics also reported that public borrowing in May reached 17.7 billion pounds ($23.8 billion), which is 700 million pounds higher than the same period last year. Most Asian markets ended higher as investors assessed China data and monitored escalating tensions between Israel and Iran. U.S. President Donald Trump is now weighing on whether to back the Israeli military and strike Tehran. The White House said that he will make a final decision within the next two weeks. Japan's core consumer price index (CPI), which excludes volatile fresh food costs, rose 3.7% in May from a year earlier, data showed on Friday, accelerating from a 3.5% increase in April. China kept its benchmark lending rates unchanged Friday. The Peoples Bank of China held the 1-year loan prime rate at 3.0% and 5-year LPR at 3.5%, according to a statement Friday.
Business Standard
15 hours ago
- Business
- Business Standard
Sensex rallies 633 pts; Nifty above 24,950 mark; VIX slumps 5.15%
The headline equity benchmarks traded with significant gains in early afternoon trade, continuing to show resilience amid escalating tensions between Israel and Iran. Market sentiment remains sensitive to global cues, including crude oil prices and other international developments. The Nifty traded above the 24,950 mark. Metal stocks rebound after three-day losing streak. At 12:30 IST, the barometer index, the S&P BSE Sensex advanced 633.07 points or 0.77% to 81,995.19. The Nifty 50 index jumped 192.85 points or 0.78% to 24,986.10. In the broader market, the S&P BSE Mid-Cap index rose 0.66% and the S&P BSE Small-Cap index added 0.44%. The market breadth was strong. On the BSE, 2,397 shares rose and 1,360 shares fell. A total of 180 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 5.15% to 13.52. The Nifty 26 Jun 2025 futures were trading at 25,085, at a premium of 98.9 points as compared with the spot at 24,986.10. The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 139.6 lakh contracts at the 26,000 strike price. Maximum put OI of 123.8 lakh contracts was seen at the 25,000 strike price. Buzzing Index: The Nifty Metal index rose 1.22% to 9,151. The index slipped 2.21% in the past three consecutive trading sessions. JSW Steel (up 1.93%), Welspun Corp (up 1.79%), Lloyds Metals & Energy (up 1.76%), Vedanta (up 1.57%) and Hindalco Industries (up 1.54%), Steel Authority of India (up 1.41%), Adani Enterprises (up 1.37%), Hindustan Copper (up 1.22%), NMDC (up 1.21%) and Tata Steel (up 1.15%) added. Stocks in Spotlight: Dilip Buildcon rose 0.97%. The company announced that it has received a letter of acceptance (LoI) worth Rs 1,341 crore from Konkan Railway Corporation (KRCL). Uno Minda added 2.13% after the companys board has approved the setting up of a greenfield manufacturing facility for aluminium die casting in Sambhaji Nagar, Maharashtra for Rs 210 crore.
Business Standard
a day ago
- Business
- Business Standard
Indices extend losses for third day amid geopolitical jitters, Fed caution
Key equity benchmarks ended with marginal losses today, marking the third straight session of decline, as investor sentiment remained shaky due to escalating tensions between Israel and Iran. Adding to the caution, the U.S. Federal Reserve's decision to hold interest rates steady also weighed on global cues. Fed Chair Jerome Powell flagged the possibility of rising goods inflation during the summer, partly due to tariffs introduced under President Donald Trumps trade policies. The Nifty closed below the 24,800 mark. On the sectoral front, barring Nifty Auto, all indices on the NSE ended in the red, with PSU banks, realty, and media stocks leading the losses. The S&P BSE Sensex shed 82.79 points or 0.10% to 81,361.87. The Nifty 50 index fell 18.80 points or 0.08% to 24,793.25. The Sensex and the Nifty have fallen 0.53% and 0.61%, respectively, in three sessions. Adani Ports & SEZ (down 2.59%), Bajaj Finance (down 2.08%) and Infosys (down 0.88%) were major drags today. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.64% and the S&P BSE Small-Cap index dropped 1.77%. The market breadth was weak. On the BSE, 959 shares rose and 3,018 shares fell. A total of 140 shares were unchanged. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.62% to 6.297 from the previous close of 6.258. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.7325 compared with its close of 86.4300 during the previous trading session. MCX Gold futures for 5 August 2025 settlement shed 0.12% to Rs 99,415. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 98.94. The United States 10-year bond yield rose 0.64% to 4.387. In the commodities market, Brent crude for August 2025 settlement rose 10 cents or 0.13% to $76.80 a barrel. Global Markets: US Dow Jones futures were down 176 points. Wall Street will be shut on Thursday for the Juneteenth holiday, with regular trading set to resume Friday. European shares declined as investors awaited the Bank of Englands rate decision due at midday. Norway's central bank has cut interest rates by 25 basis points to 4.25% for the first time since the start of the Covid-19 pandemic. Norges Bank had in March suggested it was expecting to cut its key sight deposit rate in June and followed through. The Swiss National Bank has cut interest rates by a further 25 basis points to 0%adding to concerns over a potential return to negative rates. Most Asian stocks ended lower as investors digested the U.S. Federal Reserves widely expected decision to keep interest rates unchanged. Adding to the cautious mood, ongoing tensions between Israel and Iran continued to weigh on sentiment. Taiwans central bank kept its policy rate unchanged at 2% on Thursday, as widely expected, given the islands robust tech-driven economy and moderating inflation, and maintained its economic growth outlook for the year. The Philippine central bank cut its key interest rate by a quarter of a percentage point to 5.25% for a second time this year and signaled theres scope for further easing, with inflation likely to remain modest and economic growth at risk from global uncertainties. As expected, the Fed held its benchmark rate steady at 4.25%-4.5% on Wednesday, marking no change since December. Fed Chair Jerome Powell indicated the committee would wait to assess the inflationary impact of President Trumps tariff measures before considering any policy shifts. Despite the hawkish pause, the Fed still pointed to two rate cuts by the end of the year. Geopolitical concerns remain front and center. Investor nerves were further rattled after Iran's Supreme Leader Ayatollah Ali Khamenei dismissed President Trump's calls for unconditional surrender. His remarks, delivered via a televised statement on Wednesday, were his first since Friday, when Israel escalated its offensive against Iran. Back on Wall Street, US equities ended mixed on Wednesday. The Dow slipped 0.10%, and the S&P 500 edged down 0.03%, while the Nasdaq bucked the trend with a 0.13% gain. Stocks in Spotlight: Nestle India fell 1.28%. The company announced that its board will consider a bonus share issue on 26 June 2025. Shares of Siemens Energy India Ltd (SEIL), the newly demerged energy business of Siemens, made a debut on the bourses today. The stock listed at Rs 2,840 on the NSE, higher than the discovered price of Rs 2,478.20, and at Rs 2,850 on the BSE, versus a discovered price of Rs 2,368.80. It quickly surged to hit its upper circuit limits of Rs 2,982 on the NSE and Rs 2,992.45 on the BSE. However, the initial rally was short-lived. SEIL closed at Rs 2,760 on the NSE and Rs 2738.35 on the BSE. ESAF Small Finance Bank gained 2.34% after the bank's board approved a major clean-up of its balance sheet by offloading bad loans worth Rs 735.18 crore to an Asset Reconstruction Company (ARC). Tata Elxsi fell 3.57%. The company announced that it has signed a memorandum of understanding (MoU) with Infineon Technologies to jointly develop application-ready EV solutions tailored to the Indian market. Markolines Pavement Technologies rose 2.42% after the company announced that it has secured a maintenance contract worth Rs 18.88 crore from Varanasi-Aurangabad NH-2 Tollway. AAVAS Financiers shed 0.35%. The companys board executive committee has approved raising up to Rs 200 crore through a private placement of non-convertible debentures (NCDs). Garware Technical Fibres declined 2.45%. The company announced that it has incorporated of a wholly owned subsidiary (WOS), Garware Technical Fibres AS (GTF AS), in Norway. Marksans Pharma slipped 1.24%. The company announced that its wholly owned subsidiary Relonchem has received marketing authorization for the product Oxybutynin hydrochloride Oral Solution from UK Medicines & Healthcare Products Regulatory Agency (UKMHRA). Puravankara advanced 1.18% after the companys, wholly owned subsidiary, Starworth Infrastructure & Construction, received a letter of intent (LoI) worth Rs 272 crore from Tru Dwellings. IPO Update: The initial public offer (IPO) of Arisinfra Solutions received bids for 1,70,33,879 shares as against 1,30,84,656 shares on offer, according to stock exchange data at 16:45 IST on Thursday (19 June 2025). The issue was subscribed 1.30 times. The issue opened for bidding on Wednesday (18 June 2025) and it will close on Friday (20 June 2025). The price band of the IPO is fixed between Rs 210 and 222 per share. An investor can bid for a minimum of 67 equity shares and in multiples thereof.
Business Standard
a day ago
- Business
- Business Standard
Barometers trade with minor gains; metal shares lack lustre
The domestic equity benchmarks trade near the flatline with some positive bias in mid-afternoon trade, amid ongoing escalating geopolitical tensions between Israel and Iran. Further impacting sentiment was the US Federal Reserve's decision to hold interest rates, with the central bank projecting elevated inflation and slower economic growth ahead. Market direction will likely continue to be shaped by these geopolitical developments, with investors closely tracking crude oil prices and broader global events. The Nifty traded above the 24,800 level. Metal shares witnessed selling pressure for third consecutive trading session. At 14:25 IST, the barometer index, the S&P BSE Sensex rose 51.85 points or 0.06% to 81,500.40. The Nifty 50 index rose 18.60 points or 0.07% to 24,827.40. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.27% and the S&P BSE Small-Cap index dropped 1.33%. The market breadth was weak. On the BSE, 912 shares rose and 2,993 shares fell. A total of 156 shares were unchanged. Buzzing Index: The Nifty Metal Index fell 1.06% to 9,061. The index dropped 3.18% for the three consecutive trading sessions. Vedanta (down 3.82%), Hindustan Copper (down 3.75%), Hindustan Zinc (down 3.09%), Welspun Corp (down 2.98%) and NMDC (down 2.34%), National Aluminium Company (down 2.2%), Lloyds Metals & Energy (down 2.14%), Steel Authority of India (down 2.05%), Adani Enterprises (down 1.81%) and Jindal Stainless (down 1.77%) declined. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.66% to 6.299 from the previous close of 6.258. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.8200 compared with its close of 86.4300 during the previous trading session. MCX Gold futures for 5 August 2025 settlement fell 0.13% to Rs 99,406. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.10% to 98.98. The United States 10-year bond yield rose 0.80% to 4.394. In the commodities market, Brent crude for August 2025 settlement advanced 42 cents or 0.55% to $77.12 a barrel. Stocks in Spotlight: MTAR Technologies shed 0.95%. The company has announced that it has signed a 10-year long-term contract with Weatherford Products GMBH for the supply of Whipstock assemblies and other critical products. Infrastructure jumped 3.21% after the company announced that it has secured a Rs 63.98 crore contract from Kevadiya Construction for the development of underground sewerage systems in Tamil Nadu.
Business Standard
2 days ago
- Business
- Business Standard
Sensex slides 24 pts; broader market underperforms; media shares tumble
The headline equity benchmarks traded near the flatline with some negative points in early afternoon trade, amid ongoing escalating geopolitical tensions between Israel and Iran. Further impacting sentiment was the US Federal Reserve's decision to hold interest rates, with the central bank projecting elevated inflation and slower economic growth ahead. Market direction will likely continue to be shaped by these geopolitical developments, with investors closely tracking crude oil prices and broader global events. The Nifty traded below the 24,850 mark. Media stocks slipped for the third straight trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex shed 23.97 points or 0.04% to 81,412.43. The Nifty 50 index fell 6.25 points or 0.02% to 24,805.50. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.10% and the S&P BSE Small-Cap index shed 1.19%. The market breadth was weak. On the BSE, 1,034 shares rose and 2,750 shares fell. A total of 169 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.13% to 14.52. The Nifty 26 Jun 2025 futures were trading at 24,828.10, at a premium of 22.6 points as compared with the spot at 24,805.50. The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 89.2 lakh contracts at the 26,000 strike price. Maximum put OI of 62.1 lakh contracts was seen at the 24,000 strike price. Buzzing Index: The Nifty Media index fell 0.96% to 1,685.10. The index slipped 2.92% in the three consecutive trading sessions. Zee Entertainment Enterprises (down 2.91%), Tips Music (down 1%), Sun TV Network (down 0.99%), Nazara Technologies (down 0.89%), Hathway Cable & Datacom (down 0.87%), Saregama India (down 0.19%), D B Corp (down 0.04%) declined On the other hand, Dish TV India (up 1.89%) ,PVR Inox (up 0.79%) and Network 18 Media & Investments (up 0.25%) added. Stocks in Spotlight: Markolines Pavement Technologies gained 3.47% after the company announced that it has secured a maintenance contract worth Rs 18.88 crore from Varanasi-Aurangabad NH-2 Tollway. Tata Elxsi fell 2.18%. The company announced that it has signed a memorandum of understanding (MoU) with Infineon Technologies to jointly develop application-ready EV solutions tailored to the Indian market.
