Latest news with #S&P
Business Standard
26 minutes ago
- Business
- Business Standard
Nifty climbs above 25,000 level; realty shares advance
The key domestic indices traded with significant gains in morning trade, showing resilience in the face of escalating tensions between Israel and Iran. Market sentiment, however, remains sensitive to global cues, including crude oil prices and other international developments. The Nifty traded above the 25,000 level and Sensex crossed 82,150 mark. Realty shares jumped after declining in the past three trading sessions. At 10:30 IST, the barometer index, the S&P BSE Sensex advanced 816.02 points or 1% to 82,176.13. The Nifty 50 index jumped 232.45 points or 94% to 25,015. In the broader market, the S&P BSE Mid-Cap index fell 0.65% and the S&P BSE Small-Cap index shed 0.54%. The market breadth was strong. On the BSE, 2,271 shares rose and 1,203 shares fell. A total of 183 shares were unchanged. IPO Listing: Shares of Oswal Pumps were currently trading at Rs 641.20 at 10:14 IST on the BSE, representing a premium of 4.43% compared with the issue price of Rs 614. The scrip was listed at 632, exhibiting a premium of 2.93% to the issue price. So far, the stock has hit a high of 646.25 and a low of 625.20. On the BSE, over 6.96 lakh shares of the company were traded in the counter so far. Buzzing Index: The Nifty Realty index advanced 1.26% to 1,005.30. The index declined 2.7% in the past three trading sessions. Macrotech Developers (up 1.8%), Godrej Properties (up 1.54%), Brigade Enterprises (up 1.47%), Phoenix Mills (up 1.06%), Prestige Estates Projects (up 1.01%), Anant Raj (up 0.66%), Oberoi Realty (up 0.62%), Sobha (up 0.37%) and DLF (up 0.19%) advanced. Stocks in Spotlight: TD Power Systems rose 1.10% after 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 1.68%. The company announced that it has secured two major contracts cumulatively valued at approximately Rs 960 crore, excluding GST. Natco Pharma shed 0.68%. Natco Pharma announced that its pharmaceutical manufacturing facility in Kothur, Hyderabad, has received seven observations from the United States Food and Drug Administration (USFDA) following a recent inspection.
Hans India
3 hours ago
- Business
- Hans India
RBI's new rule on gold loans to change mkt dynamics
New Delhi: The RBI's new rules on lending against gold will lead to business model adjustment, and operational agility, service excellence will remain the key differentiator between lenders, S&P Global Ratings said on Thursday. Earlier this month, the RBI raised the loan-to-value (LTV) ratio for lending against gold to 85 per cent for borrowings under Rs 2.5 lakh from the present 75 per cent. The LTV ratio has been fixed at 80 per cent for loan amounts between Rs 2.5-5 lakh and 75 per cent for loans above Rs 5 lakh. Lenders have time until April 1, 2026, to prepare for the changes. In its report titled 'India's new rules on gold-backed loans may reshape the competitive landscape', S&P said the Reserve Bank of India's new rules on gold-backed loans will likely lead to business model adjustments in the country's booming lending niche. 'In our view, operational agility and service excellence will remain the key differentiator between lenders,' S&P said. S&P Global Ratings credit analyst Geeta Chugh said NBFCs need to develop risk management policies and processes to evaluate borrowers' repayment capabilities based on income and cash flows. 'Traditionally, they have relied on collateral valuation. Bridging the skill gaps to hire and train loan officers on assessing repayment ability is both an upfront cost and an hurdle to overcome for these lenders,' he said.
Mint
5 hours ago
- Business
- Mint
Australian shares set for first weekly drop in six as Middle East conflict weighs
June 20 (Reuters) - Australian shares fell to a two-week low in early trade on Friday, poised to snap a five-week winning streak, as escalating Middle East tensions dampened investor sentiment and softer metal prices weighed on local miners. The S&P/ASX 200 index was down 0.3% at 8,500 points, as of 0033 GMT. The benchmark has lost 0.6% so far this week, and on track for its first weekly decline in six weeks, if losses hold. Globally, investors stayed risk-averse as tensions between Iran and Israel continued to escalate, with Israel targeting nuclear sites in Iran amid a persistent absence of a ceasefire between the two long-standing adversaries. "With U.S. markets offline and no fresh news – other than speculation about the possibility of U.S. intervention – related to the potential war between Israel and Iran, risk was taken off the table," said Kyle Rodda, senior financial market analyst with Australian heavyweight miners lost 0.6%, hitting their lowest levels since April 17, as lower copper prices weighed on the metals sub-index. Mining behemoth BHP Group fell 0.3% while iron ore miner Rio Tinto lost 1%. For the week, miners have shed 4.5% so far, on track for their worst week since March 31. The financials sub-index slipped 0.3%, with the 'Big Four' banks declining between 0.1% and 0.3%. Energy stocks traded largely flat as investors assessed the potential impact of Middle East tensions on global oil supply. Despite the subdued session, the sector has advanced 5.3% so far this week and is on track for its fourth straight weekly gain. Woodside Energy rose 0.7% while smaller rival Santos added 0.4%. Information technology firms lost 0.2% and Australian health stocks shed 0.3%. Markets in New Zealand were closed for a public holiday.
Hamilton Spectator
13 hours ago
- Business
- Hamilton Spectator
S&P/TSX composite down in late-morning trading despite gains in energy stocks
TORONTO - Canada's main stock index was down in late-morning trading despite strength in energy stocks as the price of oil moved higher amid growing worries that the fight between Israel and Iran will escalate. The S&P/TSX composite index was down 59.03 points at 26,500.82. U.S. stock markets are closed for the Juneteenth holiday. The Canadian dollar traded for 72.81 cents US compared with 73.14 cents US on Wednesday. The August crude oil contract was up US$2.09 at US$75.59 per barrel and the July natural gas contract was up eight cents US at US$4.07 per mmBTU. The August gold contract was down US$24.80 at US$3,383.30 an ounce and the July copper contract was down seven cents US at US$4.79 a pound. This report by The Canadian Press was first published June 19, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
Business Recorder
14 hours ago
- Business
- Business Recorder
TSX dips on Middle East conflict concerns
Canada's main stock index fell on Thursday, as caution prevailed over heightened tensions in the Middle East and the United States' possible involvement in the conflict. The S&P/TSX composite index was down 0.2% at 26,510.63 points. Israel bombed nuclear targets in Iran on Thursday and Iranian missiles hit an Israeli hospital overnight, as the week-old air war escalated with no sign yet of an off-ramp. President Donald Trump, meanwhile, has kept the world guessing about whether the U.S. would join Israel in the airstrikes. 'There is potential for the U.S. to become more involved, which is not desirable, and I think that the overall escalation of the conflict period is definitely weighing down global sentiment,' said Shiraz Ahmed, founder & CEO at Sartorial Wealth Inc. The conflict has impacted oil prices, which rose on the day and boosted the energy sector by 0.6%. On the flip side, healthcare stocks were the biggest decliner, down 0.9%, with pharmaceutical firm Bausch Health companies falling 2.4%. Information and Technology fell 0.7%. Materials dropped 0.6% as gold prices held steady while copper hit a near one-week low. Most other base metals also declined, pressured by a stronger U.S. dollar. GOL/MET/L The benchmark index shed most of its gains to end almost flat on Wednesday after Federal Reserve Chair Jerome Powell said inflation in goods prices is expected to go up over the summer as Trump's tariffs work their way to consumers. Also on Wednesday, Bank of Canada Governor Tiff Macklem said that the prospect of a new Canada-U.S. trade deal offers hope that tariffs will be removed, but cautioned that inflation could rise if tariffs remain in place. Trump and Canada's Prime Minister Mark Carney this week agreed to reach a trade deal between the two countries in 30 days. Among individual stocks, food retailer Empire Company Ltd jumped 5.4% to the top of TSX after reporting quarterly profit above the analyst's estimates. Trade volumes are expected to remain thin as U.S. markets are closed for a public holiday.
