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Business Recorder
14-06-2025
- Business
- Business Recorder
Indian benchmarks log weekly losses as ME tensions rattle sentiment
MUMBAI: India's equity benchmarks declined on Friday and posted weekly losses as Israel's military strikes on Iran escalated tensions in the Middle East and dampened global risk sentiment. The Nifty 50 was down 0.68% at 24,718.6 and the BSE Sensex fell 0.70% to 81,118.6. Eleven of the 13 major sectors logged losses, on the day. The broader small- and mid-caps dropped 0.4% and 0.5% respectively. Oil marketing companies BPCL, HPCL, and Indian Oil slid 1.6%-2% on worries that higher crude prices would erode refining margins. Higher oil prices are a negative for India, which imports a bulk of its crude. Globally equities also fell on Friday, while safe-havens including gold and the Swiss franc gained. Brent crude jumped 7.2% amid fears of supply disruptions. Israel said it struck Iranian nuclear targets to block Tehran from developing atomic weapons, prompting retaliation from Iran, which launched 100 drones. 'The escalating Middle East conflict and potential Suez Canal disruption pose material risks to India's trade flows and could drive up fuel, fertilizer, and chemical costs,' said Dharan Shah, founder of 'If tensions persist, inflation and market volatility could rise sharply.' Meanwhile, airline stocks Interglobe Aviation and SpiceJet lost 3.9% and 1.6% after an Air India plane crashed in Ahmedabad on Thursday, killing nearly all 242 people on board. They have lost 6.6% and 3.4%, respectively, in two sessions. For the week, the Nifty and Sensex lost 1.1% and 1.3%, reversing gains from earlier in the week. Uncertainty and lack of details around a US-China trade deal also pressured markets, overshadowing optimism from easing domestic inflation and the central bank's bumper policy support. 'Any trade deal between US and its key trading partners is likely to take longer and we are in the initial chapters of a prolonged trade dispute, which may spur inflationary pressures,' said Sandeep Bagla, CEO of Trust Mutual Fund.
Business Recorder
13-06-2025
- Business
- Business Recorder
Indian benchmarks log weekly losses as Mideast tensions, trade woes rattle sentiment
India's equity benchmarks declined on Friday and posted weekly losses as Israel's military strikes on Iran escalated tensions in the Middle East and dampened global risk sentiment. The Nifty 50 was down 0.68% at 24,718.6 and the BSE Sensex fell 0.70% to 81,118.6. Eleven of the 13 major sectors logged losses, on the day. The broader small- and mid-caps dropped 0.4% and 0.5% respectively. Oil marketing companies BPCL, HPCL, and Indian Oil slid 1.6%-2% on worries that higher crude prices would erode refining margins. Higher oil prices are a negative for India, which imports a bulk of its crude. Globally equities also fell on Friday, while safe-havens including gold and the Swiss franc gained. Brent crude jumped 7.2% amid fears of supply disruptions. Israel said it struck Iranian nuclear targets to block Tehran from developing atomic weapons, prompting retaliation from Iran, which launched 100 drones. 'The escalating Middle East conflict and potential Suez Canal disruption pose material risks to India's trade flows and could drive up fuel, fertilizer, and chemical costs,' said Dharan Shah, founder of India shares stumble on trade uncertainty, Middle East tensions 'If tensions persist, inflation and market volatility could rise sharply.' Meanwhile, airline stocks Interglobe Aviation and SpiceJet lost 3.9% and 1.6% after an Air India plane crashed in Ahmedabad on Thursday, killing nearly all 242 people on board. They have lost 6.6% and 3.4%, respectively, in two sessions. For the week, the Nifty and Sensex lost 1.1% and 1.3%, reversing gains from earlier in the week. Uncertainty and lack of details around a U.S.-China trade deal also pressured markets, overshadowing optimism from easing domestic inflation and the central bank's bumper policy support. 'Any trade deal between U.S. and its key trading partners is likely to take longer and we are in the initial chapters of a prolonged trade dispute, which may spur inflationary pressures,' said Sandeep Bagla, CEO of Trust Mutual Fund.
Reuters
09-06-2025
- Business
- Reuters
Indian equity benchmarks set to open higher on global tailwinds, RBI policy support
June 9 (Reuters) - Indian benchmark indexes are poised to open higher on Monday, buoyed by positive global cues, including strong U.S. jobs data and signs of progress in India-U.S. trade talks, as well as the Reserve Bank of India's (RBI) policy support. The Gift Nifty futures were trading at 25,179 as of 7:35 a.m. IST, indicating that the benchmark Nifty 50 (.NSEI), opens new tab will open above Friday's close of 25,003.05. The Nifty 50 and BSE Sensex (.BSESN), opens new tab rose about 1% each on Friday after the RBI cut the repo rate by 50 basis points (bps), surpassing expectations of a 25 bps cut, and reduced the cash reserve ratio (CRR) for banks by 100 bps, signaling stronger monetary support. "The RBI's measures came as a positive surprise for equity markets as there will be greater impetus to growth and there could be faster pick up in rate-sensitive sectors," said Sandeep Bagla, CEO of Trust Mutual Fund. Positive sentiment also stemmed from global markets. The MSCI Asia ex-Japan index (.MIAPJ0000PUS), opens new tab rose 0.5%, tracking Wall Street's gains on Friday after a robust U.S. jobs report eased concerns over economic momentum. Treasury yields edged higher in response. Meanwhile, trade talks between Indian and U.S. officials are progressing, with both sides seeking consensus on tariff cuts in the farming and auto sectors in a bid to finalise an interim deal before a July 9 deadline, Indian government sources said. Foreign portfolio investors (FPI) and domestic institutional investors (DII) were both net buyers of Indian shares on Friday, purchasing shares worth 10.1 billion rupees ($118 million) and 93.42 billion rupees, respectively. ** Mahindra & Mahindra's ( opens new tab total production jumps 27.6% year-on-year in May and total exports soar 36.7%. ** Multi Commodity Exchange of India ( opens new tab receives SEBI approval to launch electricity derivatives ** Rites ( opens new tab signs deal with Hindustan Copper ( opens new tab to develop a critical mineral supply chain ** Garden Reach Shipbuilders ( opens new tab signs MoU with Sweden-based Berg Propulsion for marine propulsion systems and Denmark-based SunStone for partnership in expedition cruise vessels ($1 = 85.7590 Indian rupees)
Business Recorder
22-05-2025
- Business
- Business Recorder
Indian shares fall on US fiscal worries, rising Treasury yields
Indian benchmark indices fell on Thursday, mirroring global losses as U.S. fiscal worries and rising Treasury yields weighed on investor sentiment. The Nifty 50 fell 0.82% to end at 24,609.70, while the BSE Sensex dropped 0.79% to close at 80,951.99. Other Asian markets also declined on the day, with the MSCI Asia ex-Japan index losing 0.9%. European markets also traded lower, ahead of the crucial vote in the U.S. on President Donald Trump's tax bill. Investors are worried the new tax and spending bill could add about $3.8 trillion to the $36 trillion U.S. debt pile. Concerns over mounting debt and Moody's downgrade of the U.S. credit rating last week pushed longer-dated Treasury yields to 18-month highs. Rising Treasury yields make bonds more attractive to foreign investors, driving out capital from stocks in emerging markets such as India. 'The domestic market does not appear to be on strong legs as uncertainties have increased significantly,' said Sandeep Bagla, CEO of Trust Mutual Fund. India's Nifty, which rose 4.2% last week, helped by foreign inflows, ceasefire with Pakistan and U.S.-China trade truce, has lost 1.6% so far this week. Indian equity benchmarks snap 3-day losing streak on financial, pharma boost 'While some investors expect domestic flows to continue supporting the market, others remain concerned about whether economic and earnings recovery can sustain the uptrend,' Bagla said. On the day, the broader, more domestically focused, small-caps and mid-caps fell 0.3% and 0.5%, respectively. All 13 major sectoral indices logged losses. The Nifty IT index fell 1.3%, pressured by its high dependence on U.S. clients amid rising economic uncertainty. 'Recent developments in the U.S. have intensified concerns about client spending in the IT sector,' said Anil Rego, founder and fund manager at Right Horizons PMS. Consumer stocks fell 1.4%, dragged by Colgate, down 6.5% on weak March quarter profit and soft urban demand.
Time of India
21-05-2025
- Business
- Time of India
RBI to slow cash boost after $100 billion injection; surplus transfer eyed, say economists
The Reserve Bank of India is expected to slow its liquidity infusion after pumping Rs 8.57 lakh crore ($100.06 billion) into the banking system since December, with a large surplus transfer to the government expected soon, several economists said. The central bank concluded its final scheduled open market bond purchase on Monday, and has not yet announced any more purchases. The RBI has been infusing liquidity since the last six months. " Dividend payment to the government and subsequent government expenditure will release adequate funds into the system and there should be no need to infuse liquidity through OMOs ( open market operations )," said Sandeep Bagla, CEO at Trust Mutual Fund. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 21st Century Skills Start with Confident Communication Planet Spark Learn More Undo Estimates for the upcoming surplus transfer range from Rs 2.5 lakh crore to Rs 3 lakh crore as per seven economists, though those at Citi expect a larger payout of between 3.5 trillion rupees and Rs 4 lakh crore. The RBI has of late slashed its cash reserve ratio, followed by secondary market debt purchases, foreign exchange swaps and aggressive open market operations. It is expected to announce its surplus transfer to the government before the end of this month. Live Events "With the dividend payment, the core liquidity may cross Rs 5 lakh crore, which is a very high number. For the next three months RBI need not inject durable liquidity, they can look at OMOs may be from September onwards," said A Prasanna, head of research at ICICI Securities Primary Dealership. Bond market participants expect a pause in the recent price rally, with yields likely to consolidate after a sharp move. The 10-year benchmark yield has dropped 38 basis points since the start of the financial year, following a 17 bps decline in the prior four months. Shorter duration bond yields have seen a more significant drop, with the five-year yield down 57 bps since April 1 after easing by 26 bps in previous four months. "We do not expect any more announcement for open market purchases in this month, and with expectation of terminal repo rate of 5.50%, the decline in the 10-year benchmark bond yield could bottom out around 6.15%-6.20% levels for now," said VRC Reddy, treasury head at Karur Vysya Bank .
