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Equity Alert: Nifty 50 crosses 25000 points for first time in over two weeks

MUMBAI--1015 IST--The Nifty 50 crossed the 25000-point level for the first time in over two weeks, buoyed by US President Donald Trump's recent comments. These comments raised hopes of a potential new trade deal between India and the US, which could scrap the 25?ditional tariff and even lower the baseline tariff. At 1003 IST, the 50-stock index was at 25009.50 points, up 141 points or 0.6%, having risen to an intraday high of 25017.40. Most index constituents traded higher.

Trump early Wednesday said his administration was continuing discussions with India to address trade barriers, a shift in tone from his comments criticising India in recent times. Reports said administrations of both the countries are likely to meet towards the end of this month to discuss on a potential trade deal.

Information technology stocks were among the top gainers after a downward revision of payrolls data in the US further increased hopes of a rate cut by the US Federal Reserve later this month. Wipro, HCL Technologies, Tech Mahindra, and Tata Consultancy Services were up 2-3%. Other heavyweights such as Reliance Industries, ICICI Bank, HDFC Bank, and Larsen & Toubro were also in the positive zone. (Akash Mandal)

Equity Alert: Textile stocks surge, Trump remark renews trade deal optimism

MUMBAI--0954 IST--Textile stocks surged in early trade as US President Donald Trump's recent comments raised hopes about the trade deal which could eventually lower the tariff on Indian exports to the US. Many of these textile makers have a high exposure to the US market. Welspun Living, Alok Industries, Trident, and Vardhman Textiles were 5-10% higher.

Trump early Wednesday said his administration was continuing negotiations with India to address trade barriers. This marked a shift in his tone and showed optimism about a trade deal between the two countries. Reports said administrations of both the countries are likely to meet towards end of this month to discuss on a potential trade deal.

"If India and US manage to sign positive trade deal with tariff rate between 10-15%, it will be positive for textile sector as other key textile exporting countries such as Vietnam and Bangladesh are imposed with 20% tariff and China with 30% tariff...if India manages to remove 25?ditional tariff, the industry will be in stable position with tariff rate close to other major exporting countries," ICICI Direct Research said in a report.

The brokerage maintains its stance that 2025-26 (Apr-Mar) is likely to be muted for textile makers, but added that trade deals with the US and European Union could boost the sector in FY27. (Akash Mandal)

The brokerage maintains its stance that textile makers could see a muted growth in 2025-26 (Apr-Mar), adding that trade deals with the US and European Union could boost the sector in FY27. (Akash Mandal)

Equity Alert: Mkt up on optimism over US trade deal; Nifty 50 near 25000 pts

MUMBAI--0931 IST--Benchmark indices opened higher Wednesday amid positive developments on a trade deal with the US. The market also tracked gains in global markets as the US index NASDAQ Composite closed at a record high Tuesday, after a downward revision of the payrolls data boosted hopes of a rate cut by the US Federal Reserve this month.

US President Donald Trump early Wednesday said on Truth Social his administration was continuing negotiations with India to address trade barriers and he was looking forward to speaking with Prime Minister Narendra Modi in the coming weeks. He is also certain that there will be no difficulty in coming to a successful conclusion for both countries. Responding to this, Modi said in his X post that the two countries' respective teams are working to conclude the discussions at the earliest.

At 0927 IST, the Nifty 50 was at 24979.50, up 110.90 points or 0.5%, and the BSE Sensex was at 81474.09, up 372.77 points or 0.5%. The Nifty 50 reached 24992.80-point mark to its highest level so far Wednesday, which is just 7 points away from the crucial 25000 point level. Analysts believe if it stands above 25000 level, the index may touch 25150–25200 points. The India VIX, or the fear indicator of the market, was down 1.2% at 10.5625, suggesting easing of the near-term nervousness in the market. All broader market indices were in the green, up 0.7–0.9%, faring better than their benchmark peers.

Most sectoral indices opened in positive territory with the Nifty IT outperforming others, which was up 2%. Nifty Auto and Nifty FMCG were the least gainers, rising around 0.3?ch. These indices took a breather after witnessing a sharp rally on the back of optimism over improved demand after GST cuts.

Oracle Financial Services Software was the top gainer in the Nifty 200, up over 5%, following a 27% surge in the shares of Oracle Corp., its US-based parent company, in extended trading on Tuesday. The sharp rise was after the company reported a major increase in bookings and also gave a strong outlook for its cloud infrastructure business.

Shares of most textile companies were up on Trump's statements of possible continuation of trade negotiations between the US and India. Welspun Living was up over 7% and is the top gainer in the Nifty 500. Vardhman Textiles also led the pack of 500 stocks and was up nearly 7%. (Simran Rede)

Equity Alert: Mkt seen higher; GIFT Nifty suggests Nifty 50 may test 25000

MUMBAI--0814 IST--Benchmark indices are likely to move higher Wednesday, with GIFT Nifty futures suggesting the Nifty 50 index may test 25000 points. US President Donald Trump said India and the US are continuing with trade negotiations and he is set to speak with Prime Minister Narendra Modi in the coming weeks.

"I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!," Trump Wednesday said in a post on Truth Social. Sentiment is expected to be positive after these comments as recent developments had raised doubts over US-India trade deal.

However, a report by Financial Times said, quoting three officials, that Trump has asked the European Union to impose tariffs of up to 100% on India and China to increase pressure on Russia to end its war in Ukraine. Trump made these demands in a meeting between senior US and European Union officials, the report said.

GIFT Nifty futures suggest the Nifty 50 is expected to open higher, extending its winning run to six sessions. At 0756 IST, GIFT Nifty September contracts traded at 25012.50 points, up 0.4% from its previous close and 0.6% higher compared to the Nifty 50's close Tuesday. The Nifty 50 had ended the Tuesday session at 24868.60 points

Expectations of interest rate cuts in the US continue to drive stock prices higher across global markets. The Nasdaq Composite hit its lifetime high Tuesday yet again and gained 0.4%. The S&P 500 and Dow Jones Industrial Average were also up 0.3-0.4%. The CME FedWatch Tool shows a 94% probability of a 25-basis point rate cut. Most indices in Asia were also higher Wednesday with markets in Japan, Hong Kong, South Korea, Taiwan rose 0.5-1.5%. (Anshul Choudhary)

Equity Alert: Asian indices rise; Kospi continues rally, near record high

MUMBAI--0751 IST--Asian indices opened on a positive note Wednesday, tracking overnight gains in the US market which closed at a record high. South Korea's Kospi was up 1.4% and was the top gainer among the region's indices.

South Korea's seasonally adjusted unemployment rate rose slightly to 2.6% in August compared with July's 2.5%, CNBC reported. The Kospi is near its all-time high as optimism over domestic policy reforms and positive global tailwinds helped extend the rally, Bloomberg reported.

The index has surged nearly 38% so far this year and is among the biggest gainers among major indices around the world. The rise is on hope that President Lee Jae Myung may scrap a previous proposal that would lower the threshold for the capital gains tax on stocks, the Bloomberg report said.

China's CSI 300 was up 0.1%. The country's inflation was flat on month in August, compared with a fall of 0.2% expected by Reuters. Its producer prices fell 2.9% on year, in line with Reuters' estimate and a lower fall than the 3.6?cline in July. Among top gainers, Foxconn Industrial Internet, Hygon Information Technology and AVIC Shenyang Aircraft were up 4-9%.

Following were the levels of key Asian indices at 0747 IST:

(Akash Mandal)

Equity Alert: US mkt at record high; payroll revision boosts rate cut hopes

MUMBAI--0733 IST--Equity indices in the US closed at record highs Tuesday, with a downward revision of the payrolls data boosting hope of a rate cut by the US Federal Reserve this month. A surge in shares of UnitedHealth led to the Dow Jones Industrial Average being the biggest gainer among the three benchmark indices.

The US economy likely added 911,000 fewer jobs in the 12 months through March than previously estimated, Reuters reported the government as saying. This suggested that job growth was already stalling before President Donald Trump launched his global tariffs. This data increased the probability of a 25-basis-point rate cut at the Fed's September meeting to 93.7% from 89.4?ay ago, according to the CME Fedwatch tool.

UnitedHealth surged nearly 9?ter the health insurer said it expects enrolment in top-rated Medicare insurance plans to be in line with its expectations, which could mean bigger payments from the government to the health insurer, Reuters reported. JPMorgan Chase gained 2?ter a senior executive said its investment banking revenue will grow in low double digits in the third quarter and markets revenue would grow in high teens. "That's all good news, signs of a good, thriving economy...M&A (mergers and acquisitions) is coming back after Trump's Liberation Day put a screeching halt to that," Reuters quoted Jed Ellerbroek, portfolio manager at Argent Capital, as saying.

Nebius skyrocketed 50?ter the artificial intelligence infrastructure company bagged a $17.4-billion deal from Microsoft. S&P 500 futures rose slightly late Tuesday on a positive forecast from Oracle, CNBC reported. Oracle surged 26% in extended trading after the technology major said multicloud database revenue from Amazon, Google, and Microsoft soared 1,529% in the previous quarter due to demand for artificial intelligence servers. This encouraged investors despite latest quarter earnings falling short of expectations, the CNBC report said.

Following are the closing levels of US indices Tuesday:

(Akash Mandal)

End

US$1 = INR 88.15

Edited by Subhojit Sarkar

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