Equity Alert
Indices likely to extend losses next wk as US tariffs may weigh
This story was originally published at 17:35 IST on 1 August 2025
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Equity Alert: Indices likely to extend losses next wk as US tariffs may weigh
MUMBAI--1715 IST--Analysts expect benchmark headline indices to maintain their negative trajectory next week after witnessing a sharp fall Friday. Uncertainty about market movement in light of the US tariffs on India, effective Aug. 7, is likely to drag down the indices, analysts said.
On Friday, the Nifty 50 ended at 24565.35 points, down 203 points or 0.8% and the BSE Sensex closed at 80599.91 points, down 585.67 points or 0.7%. The Nifty 50 has been able to hold the 24500-point support till Friday and the immediate support for Monday is pegged at the same level. However, if the index breaches this level, the next support is seen at 23800 points.
Amid major global and domestic negative triggers, the only reason for the market to take a breather could be any postponement of the US tariffs or any positive outcome from the latest meeting of the Monetary Policy Committee of the Reserve Bank of India on Wednesday, analysts said.
Tariffs on pharmaceutical exports are a bit dicey as it is likely that the pharmaceutical sector will be excluded again this time, Franklin Templeton India said in a report. "If tariffs are imposed, contract development and manufacturing organisations might be able to pass the costs on to clients. Our analysis suggests direct export loss from US tariffs could be limited to around 0.3-0.4% of India's GDP," the report said.
Additionally, continued selling of Indian equities by foreign investors, a stronger US dollar, and a weakened rupee has dampened market sentiment, Brijesh Ail, senior technical research analyst at IDBI Capital Market and Securities, said. Weak corporate earnings have also further worsened investor sentiment, analysts said.
Market participants will react to the June quarter earnings of major companies scheduled for next week. No Nifty 50 company is slated to announce its results on Monday but earnings of Adani Ports and Special Economic Zone and Bharti Airtel, due Tuesday, will be in focus. (Simran Rede)
Equity Alert: Nifty 50 Aug ends at 52.65-point premium to spot index
MUMBAI--1705 IST--The August futures contract of the Nifty 50 closed at a premium of 52.65 points to the spot index Friday. Open interest in the contract rose 9.4% to 17.06 million, according to provisional data.
--Nifty 50 closed at 24565.35 points, down 203.00 points or 0.8% vs Thu
--Nifty 50 Aug closed at 24618.00 points, down 253.60 points or 1% vs Thu
Nifty 50 options, expiring Thursday, with maximum change in open interest:
Call: 24800, Put: 24200
Nifty 50 options, expiring Thursday, with maximum open interest:
Call: 25000, Put: 24200
(Simran Rede)
Equity Alert: US tariff woes weigh on indices; pharma stocks worst hit
MUMBAI--1605 IST--Benchmark equity indices closed sharply lower Friday, as US tariffs officially kicked in. US President Donald Trump imposed 25% tariffs on Indian exports, while existing exemptions remained in place. While this announcement came late Wednesday, the market reacted aggressively Friday as the tariffs were to be effective the same day, analysts said.
On Thursday, due to the expiry of the monthly contract of the derivatives contract of the Nifty 50, investors covered short positions. This had offset the reaction to the tariff announcement on Thursday, analysts said. Trump, on his Truth Social platform, announced the 25% tariff on Indian exports, effective Friday, along with unspecified additional penalties linked to India's energy and defence trade with Russia. This rate is significantly higher than the 10?seline tariff introduced in early April. The Nifty India Defence closed 2% lower and was among the worst performers among the sectoral indices.
The Nifty 50 has been impacted for the entire month due to negative triggers around the globe. The index closed lower for the fifth consecutive week. Friday, the Nifty 50 ended at 24565.35 points, down 203 points or 0.8% and the BSE Sensex closed at 80599.91 points, down 585.67 points or 0.7%.
Pharmaceutical stocks fell sharply as sentiment was weighed down by US President Donald Trump writing to 17 global drug majors, demanding that they lower drug prices in the US. They were also weighed down by concerns over US tariffs. India's merchandise exports to the US were $87 billion in 2024-25 (Apr-Mar), of which exports of pharmaceutical products accounted for 11.8%. Additionally, India's pharmaceutical exports to the US accounted for 35% of India's total pharmaceutical exports.
However, clarity on pharma tariffs is still evolving. In the trade agreement between India and the European Union, which included a 15% tariff framework, pharmaceuticals were treated separately, suggesting a precedent for exemption. Hence, investigations into the applicability of tariffs on pharmaceutical exports are expected to conclude by mid to late August. The Nifty Pharma and Nifty Healthcare were the worst hit sectoral indices and closed around 3% lower each.
All sectoral indices ended in the red, except the Nifty FMCG, which closed 0.7% higher. All broader market indices declined 1-2%, falling more than the headline indices. Uncertainty in the market rose with the introduction of tariffs as investors turned cautious. The fear indicator of the market, the India VIX, closed nearly 4% higher at 11.9750. (Simran Rede)
Equity Alert: European mkts dn post Trump's fresh tariffs on trading partners
MUMBAI--1535 IST--European equity indices were down in early trade Friday, owing to concern about the impact of fresh US reciprocal tariffs on dozens of trading partners, including a 39% tariff on Switzerland. Late Thursday, US President Donald Trump signed an executive order imposing reciprocal tariffs ranging from 10% to 41% on its trading partners. The order listed higher import rates that would start in seven days for 69 trading partners, including Canada, Brazil, India and Taiwan.
The pan-European STOXX 600 index fell 1.3% in early trade, down for the third straight session and on track to end the week in the red. The benchmark index slipped 4.4% from its peak in March, after coming within 2% of that level earlier this week, dragged down by a record drop in shares of Novo Nordisk following a profit warning, and as investors assess the implications of the trade deal between the US and the European Union. Most regional bourses were in the red, with France's CAC 40, Italy's MIB, and Germany's DAX down 1.6-1.8%. The UK's FTSE 100 index was down 0.5%. Stock markets in Switzerland were shut Friday for a holiday.
European pharma stocks fell after Trump sent letters to leaders of 17 major pharmaceutical companies, including Novo Nordisk and Sanofi, outlining how they should slash US prescription drug prices. Denmark-listed Novo Nordisk shed 4.9%, falling to an almost four-year low.
Among individual stocks, Italy's Campari was the top gainer on the STOXX 600 index, adding 6.7?ter reporting an increase in quarterly operating profit. British Airways owner IAG fell 1.8?ter rising in early trade, after the airline group said it expected a slight rise in costs linked to air traffic control issues.
Investors now await US payrolls data later in the day, and any upside surprise could dim prospects of interest rate cut by the US Federal reserve in September.
Following were the levels of major European indices at 1528 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
FTSE 100 Index |
9091.34 | (-)0.45 |
|
CAC 40 |
7629.56 | (-)1.83 |
|
MIB INDEX |
40330.46 | (-)1.6 |
|
DAX PERFORMANCE-INDEX |
23663.52 | (-)1.67 |
(Arya S. Biju)
Equity Alert: Most Asian indices close lower after Trump amends tariffs
MUMBAI--1500 IST--Most indices in the Asia-Pacific market closed lower, after US President Donald Trump announced steeper tariffs on dozens of trading partners while delaying the effective date by a week. Barring Japan's TOPIX most indices in the region closed lower.
Donald Trump late Thursday signed an executive order imposing reciprocal tariffs ranging from 10-41% on its trading partners. The order listed higher import duty that would start in seven days for 69 trading partners, including 25% import tariff on Indian goods, 20% for Taiwan, 19% for Thailand and 15% for South Korea. Investors now await US jobs data due later in the day and any upside surprise that could price out the chance for an interest rate cut by the US Federal reserve in September.
Further, a weaker-than-expected manufacturing activity data from China dampened investor sentiment. The Caixin/S&P Global services purchasing managers' index fell to 49.5 in July from 50.4 in the month before and missed the 50.4 expected by analysts according to a Reuters poll. China's factory activity declined in July as new business growth softened after manufacturers scaled back production due to uncertainties over US? tariffs on Chinese imports, CNBC reported citing the private sector survey. Mainland China's CSI 300 index closed 0.5% lower and Hong Kong's Hang Seng Index closed 1.1% lower.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1% Friday taking its total loss over the week to 2.2%, the biggest since April. South Korea's Kospi closed 3.9% lower, weighed by the new government's tax-increase plan and US' import tariff. Taiwan's Taiex and Australia's S&P/ASX 200 closed 0.5% and 0.9% lower Friday. While Japan's Nikkei 225 closed 0.7% lower, TOPIX closed 0.2% higher.
Technology stocks in the Asia-Pacific region mostly fell Friday as investors analysed the quarterly earnings by US technology giants overnight, as well as Trump's fresh duties on several countries. In Japan, Tokyo Electron plunged 17%, leading losses among the country's tech names. In Hong Kong, the tech-heavy Hang Seng Tech index was down 0.2% in choppy trade. In South Korea, SK Hynix plunged 5.1%, while Samsung Electronics was down 1.9%.
Following are the levels of key Asian indices at 1454 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4054.92 | (-)0.51 |
|
Hang Seng Index |
24507.81 | (-)1.07 |
|
Nikkei 225 Day |
40799.6 | (-)0.66 |
|
TOPIX FIRST SECTION |
2948.65 | 0.19 |
|
KOSPI |
3119.41 | (-)3.88 |
|
FTSE Singapore Straits Times |
4156.19 | (-)0.42 |
|
S&P/ASX 200 Index |
8662 | (-)0.92 |
(Arya S. Biju)
Equity Alert: PNB Housing hits 4-mo low after MD, CEO Girish Kousgi resigns
MUMBAI--1241 IST--PNB Housing Finance slumped over 18% Friday to an over four-month low of INR 807 after the company's managing director and chief executive officer Girish Kousgi stepped down from his position. The stock fell for the fourth consecutive session. Volume of the stock on Friday was the highest ever recorded till date. As of 1218 IST, more than 23 million shares of the company changed hands on the NSE as against 518,337 shares traded till the same time Thursday.
Global brokerage firm Morgan Stanley maintained its 'overweight' rating on the stock, but cut its target price to INR 1,100 from INR 1,300, citing uncertainties on the company's growth plans after Kousgi's resignation.
His resignation will come into effect from Oct. 28 and he will also cease to be director on the board of PHFL Home Loans and Services Ltd. and PEHEL Foundation, PNB Housing had said. In his letter, Kousgi – who worked with PNB Housing for three years - stated his intent to pursue other opportunities outside the organisation and said he would support a smooth transition process.
All five brokerage reports on the company available with Informist have a 'buy' or equivalent rating on the stock with a target price of INR 1,222. Nirmal Bang Equities Pvt. Ltd. and Motilal Oswal Financial Services have the highest target price of INR 1,300 each. (P. Madhu Kumar)
Equity Alert: Pharma cos fall sharply; Trump demands lower drug prices in US
MUMBAI--1223 IST--Pharmaceutical stocks fell sharply as sentiment was weighed down by US President Donald Trump writing to 17 global drug majors, demanding that they lower drug prices in the US. Aurobindo Pharma, Sun Pharmaceutical Industries, Dr. Reddy's Laboratories, and Granules India were down around 4?ch. At 1221 IST, the Nifty Pharma was down 2.9% at 22111.45 points, the worst hit among sectoral indices.
Trump demanded that the drug majors immediately lower charges for existing drugs and guarantee that future medicines would be launched at par with what other countries are paying, Moneycontrol reported. Eli Lilly, Novo Nordisk, and Pfizer were some of the big names among the 17 companies. Trump demanded most favored nation pricing to be implemented within 60 days.
"According to recent data, the prices that Americans have been paying for brand name drugs are more than three times the price of other similarly developed nations pay...the president is determined to solve this problem and took further action today," Moneycontrol quoted White House Press Secretary Karoline Leavitt as saying regarding the letters.
Sun Pharmaceutical Industries was down over 4% and was the worst hit in the Nifty 50 after its bottom line for the June quarter fell 20% on year, missing analysts' estimates by a wide margin. The company incurred a one-time cost of INR 8.18 billion during the quarter. (Akash Mandal)
Equity Alert: Shanti Gold International lists at 14% premium at INR 227.55
MUMBAI--1055 IST--Shanti Gold International listed at INR 227.55, a premium of over 14% to its issue price of INR 199.00. At 1037, shares of the company traded over 17% higher from the issue price at INR 234.29 and nearly 2 million shares of the company changed hands on the NSE.
The company's initial public offering was subscribed 81.17 times. It received bids for 1.03 billion shares against 12.67 million shares on offer. The portion reserved for non-institutional investors was subscribed 151.48 times, with the company receiving bids for 411.19 million shares, against the 2.71 million shares on offer.
Shanti Gold manufactures 22-carat cubic zirconia gold jewellery and has a fully integrated in-house manufacturing facility in Mumbai. The company had reported a net profit of INR 558.42 million for 2024-25 (Apr-Mar) on revenue of INR 11.06 billion. (P. Madhu Kumar)
Equity Alert: Tube Investments down 1% ahead of Apr-Jun earnings
MUMBAI--1040 IST--Shares of Tube Investments of India fell 1.4% to an intraday low of INR 2,800.20 ahead of the company's June quarter earnings due later in the day. The company is expected to reported muted earnings for the reporting quarter. At 1038 IST, the stock was 1% lower at INR 2,812.
Motilal Oswal Financial Services expects the company's net profit for the quarter to rise 4% on year to INR 1.61 billion. The brokerage also sees its revenue rising over 5% on year to INR 20.60 billion. Sequentially, the net profit is seen falling 80%, while revenue is seen declining 5%. The brokerage expects the company's earnings before interest, tax, depreciation, and amortisation at INR 2.47 billion. It sees EBITDA margin declining 20 basis points on year to 12%.
"Demand remained weak across segments...while metal formed division is expected to grow by 8% YoY, mobility/engineering divisions are expected to grow ~1%/4% YoY," the brokerage said in its earnings preview report. The company's share price has fallen 2.1% from its closing price on May 15, when it reported its earnings for the March quarter. (Akash Mandal)
Equity Alert: Indices open in red; pharma, healthcare stocks worst hit
MUMBAI--1010 IST--Benchmark indices opened lower Friday dragged down by healthcare and information technology stocks. At 0940 IST, the Nifty 50 index was down 0.3% at 24699.75 points and the BSE Sensex index was down 0.2% at 80991.69 points. Sun Pharmaceutical Industries declined over 4% and was the biggest loser in the 50-stock index in early trade after the company reported a lower-than-expected bottom line on year for the June quarter. Most other pharmaceutical and healthcare stocks were also down.
Hindustan Unilever was the biggest gainer in the Nifty 50 index in early trade, rising nearly 4%. The company's management said in its post-earnings call that growth in rural areas has continued to outpace urban areas, including in sales via e-commerce channels. The company reported strong earnings for the June quarter. Eicher Motors rose over 2?ter the company posted a slightly better-than-expected consolidated net profit for Apr-Jun. Nestle India gained a little over 1% and rose for the third straight session.
Among the Nifty 200 stocks, Suzlon Energy rose over 5% and emerged the best performing stock after it won a 381 MW order from Zelestra India. Dabur India was up over 2%, rising for the third straight session. Shares of Swiggy declined nearly 4%. The company posted steeper than expected losses in the reporting quarter. Shares of Solar Industries India and Aurobindo Pharma were down over 3?ch and were among the worst performing stocks in the Nifty 200 index.
Chalet Hotels rose over 11% and was the biggest gainer in the Nifty 500 index after the company's Apr-Jun consolidated net profit surpassed analysts' estimates. Netweb Technologies was up nearly 9%. PNB Housing Finance declined over 15% and was the biggest loser in the Nifty 500 index. This comes after the resignation of its Managing Director and Chief Executive Officer Girish Kousgi. (P. Madhu Kumar)
Equity Alert: Asian indices mixed amid more US tariff-related woes
MUMBAI--0842 IST--Asian markets were mixed Friday after US President Donald Trump signed an executive order late Thursday imposing tariffs ranging from 10-40% on several countries. These tariffs will kick in later in the day. South Korea's Kospi was down nearly 3% and was the worst-hit among its Asian peers. The index declined for the second straight session after Trump announced 15% tariffs on South Korean exports to the US.
Australia's SP/ASX 200 index was down nearly 1% and fell for the second consecutive session. The S&P Global manufacturing Purchasing Managers' Index rose to 51.3 in July compared with 50.6 in June. Taiwan's TAIEX index was down 0.6?ter Trump announced a 20% tariff for the country's imports.
Japan's Nikkei 225 index fell 0.4% in early trade. The company's jobless rate in June was unchanged from the previous month at 2.5%, government data showed on Friday. The figure was in line with the forecast by a Reuters poll. Among the gainers in the region, Indonesia's IDX Composite was biggest gainer, rising nearly 1%, and Japan's Topix index was up 0.4%. Singapore's FTSE Singapore Strait Times snapped a five-day losing run and was up 0.3%.
Following are the levels of key Asian indices at 0830 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4067.3408 | (-)0.2 |
|
Hang Seng Index |
24735.34 | (-)0.15 |
|
Nikkei 225 Day |
40914.66 | (-)0.38 |
|
TOPIX FIRST SECTION |
2955.39 | 0.42 |
|
KOSPI |
3154.44 | (-)2.8 |
|
FTSE Singapore Straits Times |
4185.42 | 0.28 |
|
S&P/ASX 200 Index |
8674.1 | (-)0.79 |
(P. Madhu Kumar)
Equity Alert: Indices seen opening lower ahead of US tariff; earnings eyed
MUMBAI--0806 IST--Benchmark indices are likely to open lower on Friday but are seen moving broadly in range during the session as the US reciprocal tariff kicks in later in the day. Investors will also focus on corporate earnings, with ITC set to report its June quarter numbers during the day. The Nifty 50 is likely to move in a range of 24500-25000.
Analysts said the market remains in an oversold zone after underperforming over the last few weeks, thus seeing a chance for some upside. Investors will also eye further trade negotiations between the US and India, as the Indian government pushes for better terms despite the US already imposing a higher-than-expected 25% tariff. Many analysts believe that there is some room left for negotiations, and that the 25% tariff rate would not be final.
The August contract of the GIFT Nifty indicates a weak start for the market. At 0751 IST, the index was at 24732 points, down over 36 points from the Nifty 50's previous close. On Thursday, the Nifty 50 closed at 24768.35 points, down 86.70 points or 0.4%. The BSE Sensex ended at 81185.58 points, down 296.28 points or 0.4%.
Overnight, indices in the US ended lower as weak corporate earnings weighed on the market. Asian indices were mixed in early trade Friday as US tariffs kick in. South Korea's Kospi was down nearly 3%, the worst hit in the region. (Akash Mandal)
Equity Alert: US indices end lower Thu as weak earnings weigh
MUMBAI--0727 IST--Indices in the US ended lower Thursday as some weak corporate earnings weighed on the market. The Dow Jones Industrial Average and the S&P 500 ended lower, while the Nasdaq Composite closed the session flat. A host of companies ended lower after reporting their earnings during the session.
Health insurer UnitedHealth ended nearly 8% lower and was the biggest drag on the Dow Jones after a dissapointing profit forecast for the year. Boeing closed over 4% lower despite reporting a smaller loss for the second quarter. Merck fell nearly 2?ter the drugmaker said it was extending its pause on shipments of HPV vaccine Gardasil to China until at least the end of 2025 due to persistent weakness in demand, Reuters reported.
United Parcel Service plunged nearly 7?ter it again declined to issue a forecast for annual revenue and margin, deepening concerns that the US' volatile trade policy was weighing on the company. Home appliances maker Whirlpool plunged over 13?ter it cut its earnings forecast and dividend, citing pressure from a pull-forward in imports by rivals ahead of US President Trump's tariffs, Reuters reported.
"Earnings have been a bit of a mix. Economic data has been somewhat mixed too, but not enough to move the needle in terms of the Fed," Reuters reported Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder, as saying. "The next two days, you have Microsoft, Meta, Apple, Amazon - those are big companies, and they will move markets depending on how the earnings are and how the outlooks are," Ghriskey said.
On the data front, consumer confidence in the US rose to a higher-than-expected 97.2 in July, up 2 points on month. Reuters had estimated the consumer confidence to come in at 95.
Following are the closing levels of US indices Thursday:
| INDEX | LAST LEVEL | CHANGE IN % |
| Dow Jones Industrial Average | 44130.98 | (-)0.74 |
| NASDAQ Composite | 21122.448 | (-)0.03 |
| S&P 500 | 6339.39 | (-)0.37 |
(Akash Mandal)
End
US$1 = INR 87.54
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Tanima Banerjee
All prices from National Stock Exchange, unless otherwise specified.
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