Equity Alert
European markets open higher, but dragged down by media stocks
This story was originally published at 16:14 IST on 11 August 2026
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Equity Alert: European mkts open higher, but dragged down by media stocks
MUMBAI--1546 IST--Markets in Europe opened marginally higher before slipping into the red Tuesday. The Stoxx Europe 600 index fell slightly. The Stoxx Europe 600 Media index fell around 2% during early trade. Meanwhile, the Stoxx Europe 600 Technology index rose slightly, and the Stoxx Europe 600 Energy index rose nearly 1%. Gains in the energy sector came as crude oil prices rose Tuesday after US President Donald Trump Monday demanded compensation for people killed in the war in West Asia, raising concerns regarding the reopening of the Strait of Hormuz.
Shares of British public relations company WPP and publishing company Informa fell slightly. Shares of French advertising company Publicis Groupe fell around 1%. Major technology constituents rose in the region. Shares of Infineon Technologies and SAP rose slightly while those of ASML Holdings rose around 2%. Energy stocks rose in the region as crude oil prices rose Tuesday. Shares of UK gas company Shell and BP rose nearly 2%. TotalEnergies and Repsol also rose around 2% each.
Investors will now watch out for eurozone employment and GDP data, as well as US consumer price figures due later this week, for further clues on the path of interest rates.
Following are the levels of key indices in the region at 1440 IST:
|
Index |
Level |
Change in % |
|
FTSE 100 Index |
10835.36 |
(-)0.3 |
|
CAC 40 |
8705.65 |
(-)0.2 |
|
MIB INDEX |
53655.67 |
(-)0.02 |
|
DAX PERFORMANCE-INDEX |
26262.12 |
(-)0.2 |
|
SLI |
2336.65 |
(-)0.3 |
(Deesha Jadhav)
Equity Alert: Nifty 50 Aug ends at premium of 53.40 points to spot index
MUMBAI—1545 IST--The August futures contract of the Nifty 50 closed at a premium of 53.40 points to the spot index Tuesday. Open interest in the contract rose 0.5% from Monday to around 12.18 million, according to provisional data.
--Nifty 50 closed at 24471.70 points, down 112.10 points or 0.5% vs Monday
--Nifty 50 August closed at 24525.10 points, down 134.60 points or 0.6% vs Monday
Nifty 50 options, expiring Aug. 18, with maximum change in open interest:
Call: 24500, Put: 24500
Nifty 50 options, expiring Aug. 18, with maximum open interest:
Call: 25000, Put: 24000
(Eshitva Prakash)
Equity Alert: Indices down as oil rises to $90/bbl; Tata Consumer drags most
MUMBAI--1545 IST--Domestic equity indices ended lower Tuesday with a significant rise in Brent crude oil prices. Closing levels of indices were in tandem for the second session after sharp divergence seen during the last week post implementation of the new closing auction system. Indices mostly moved in a range on the expiry day of the Nifty 50's weekly derivatives contract Tuesday.
The October futures contract of Brent crude oil surged to a near two-week high of $90 a barrel on reports Iran ruled out future negotiations with US President Donald Trump and said it will not negotiate with Trump and will maintain its current strategy until his presidency ends in 2029.
At the end of the continuous trading session at 1515 IST, the Nifty 50 was at 24450.25 points, down 0.5% from Monday. The BSE Sensex was also 0.5% down from Monday at 78148.22 points. After the closing auction session, the Nifty 50 ended at 24471.70, down 112.10 points or 0.5% from Monday's close. This was over 21 points higher than the 1515 IST level. The Sensex ended at 78154.25, down 388.19 points or 0.5%.
Volatility in the market, however, was lower for the session as India VIX settled over 3% lower at 11.8550 points. Barring the Nifty Midcap 150 and Nifty Midcap 100, all broader market indices closed marginally higher each. Sectoral indices were mixed, with the Nifty FMCG ending over 1% lower. The Nifty Realty and Nifty Metal were also down around 1?ch. The Nifty Pharma gained the most among sectoral indices, up around 1%.
Tata Consumer Products ended as the worst-hit Nifty 50 stock, down almost 3%. Max Healthcare Institute ended nearly 3% down in the 50-stock index. UltraTech Cement, Grasim Industries, and Nestle India closed around 2% lower each.
In the Nifty 200 index, Godrej Properties ended over 3% lower and was the worst hit in the index. It was followed by Mahindra & Mahindra Financial Services and Vedanta, also with over 3% losses each. Triveni Turbine was the worst hit on the Nifty 500 index, down nearly 6%. KEC International also shed over 5%, while Balrampur Chini Mills ended over 4% lower. Shares of Balrampur Chini were down after the company's net profit for the June quarter fell over 10% on year.
On other hand, Dr. Reddy's Laboratories closed as the top gainer in the 50-stock index and gained 4%. Eternal was up 2.5%, while Tata Consultancy Services and Titan Co. ended around 1% higher each.
Zydus Lifesciences led the pack of gainers in the Nifty 200 index, up over 6%. PB Fintech and Info Edge (India) were also up over 6?ch. Chennai Petroleum Corp. gained 15% in the Nifty 500 index and emerged as the highest gainer in the index. (Arundathi A R)
Equity Alert: Asian markets close mixed; Hang Sang, CSI 300 in the red
MUMBAI--1503 IST--Asian indices ended mixed with South Korea's Kospi and Singapore's FTSE Strait Times leading the gains. Both indices closed around 1% higher. Hong Kong's Hang Seng Index and mainland China's CSI 300 fell around 1?ch. Japanese markets were closed for the Mountain Day holiday.
Kospi heavyweight Samsung Electronics ended more than 4% higher while SK Hynix ended slightly up. In Hong Kong, shares of Baidu closed more than 2% lower and those of Alibaba ended only slightly down. Meanwhile, in Australia, shares of ANZ Group Holdings closed more than 1% lower and those of Commonwealth Bank of Australia closed slightly lower.
Foreign investors sold Asian equities on a net basis for the ninth consecutive month in July, Reuters reported. The concern over artificial intelligence spending and chip demand weighed on market sentiment. Investors had sold a net $25.48 billion worth of stocks across South Korea, Taiwan, India, Indonesia, Thailand, Vietnam, and the Philippines last month, as per the report.
On the macroeconomic front, the Bank of Korea is likely to increase interest rates further to control the inflationary pressure, Reuters reported. The Bank of Korea July raised its benchmark interest rate by 25 basis points for the first time in three and a half years. "Unless there is an extraordinary shock or an extraordinary factor, the possibility of an additional rate hike is high," Reuters quoted Bank of Korea's Senior Deputy Governor Ryoo Sang-dai as saying. "Because interest-rate policy is conducted ex-ante and pre-emptively, there will be an additional hike as we look at the growth and inflation outlook," Ryoo said.
Following were the levels of key indices in the region at 1346 IST:
|
Index |
Level |
Change in % |
|
S&P/ASX 200 Index |
9250.6 | 0.2 |
|
KOSPI Index |
6345.53 | 0.7 |
|
Hang Seng Index |
25675.8 |
(-)1.0 |
|
CSI 300 Index |
4663.79 | (-)0.8 |
|
FTSE Singapore Strait Times |
5734.84 | 0.6 |
(Deesha Jadhav)
Equity Alert: Indices remain lower; Nifty 50 stays below 24500 points
MUMBAI--1500 IST--Headline equity indices remained lower with the Nifty 50 index staying below the 24500-point level. A nearly 1?ll in the index heavyweight ICICI Bank pulled down the index.
At 1449 IST, the Nifty 50 was at 24452.80, down 131 points or 0.5%. The BSE Sensex was at 78149.62, down 392.82 points or 0.5%. However, volatility in the market remained lower, with India VIX falling nearly 3% to 11.9375 points. Small-cap indices remained 0.2% higher each, while mid-cap indices fell marginally.
The Nifty FMCG was the worst-hit sectoral index, down over 1%. The Nifty Realty and Nifty Metal were down around 1?ch. On other hand, the Nifty Pharma gained the most among sectoral indices, up around 1%.
Max Healthcare Institute was the worst-hit Nifty 50 stock, down nearly 3%. Shares of UltraTech Cement and Tata Consumer Products were down over 2?ch. In the Nifty 200 index, Godrej Properties was the key drag, down over 3%. Hitachi Energy India and Mahindra & Mahindra Financial Services also shed over 3?ch.
Triveni Turbine was the biggest loser among Nifty 500 stocks, down nearly 6%. KEC International was down 5% on the index, after the company said its project conversions are getting delayed due to the hostilities in West Asia. (Arundathi A R)
Equity Alert: Hospital cos down; parliamentary panel suggests room rent cap
MUMBAI--1300 IST--Most hospital stocks fell after a parliamentary committee on health and family welfare recommended capping hospital room rents and formulating fixed package rates for standard medical and surgical procedures across public and private healthcare institutions. At 1254 IST, shares of Max Healthcare Institute, Yatharth Hospital & Trauma Care Services, Global Health, Apollo Hospitals Enterprise traded 2.2-2.9% lower. Shares of Fortis Healthcare and Aster DM Quality Care were down 1% and 1.5% respectively.
These recommendations were part of a report on affordability and accessibility of healthcare in India. They came after the committee examined the breakup of hospital bills and concluded that some private hospitals charge large amount for hospital stays, particularly in metropolitan cities, according to media reports.
The committee recommended that private hospitals in large metropolitan cities should cap room charges at the average tariff of three-star hotels in the area around the hospital. The ceiling, however, would apply to the basic room tariff. Hospitals would be allowed to add the cost of resident doctors, nursing, disposable consumables, meals and laundry separately.
The panel also recommended private and public healthcare institutions to formulate and publicly display fixed package rates for standard surgical and medical procedures. Such packages should include surgeon fees, diagnostic investigations, consumables and standard post-operative care, it said. The committee also recommended the government to review and rationalise foreign direct investment limits in the operational management of private hospital chains. (Arya S. Biju)
Equity Alert: Info Edge rises 7%; brokerages positive on co post Q1 results
MUMBAI--1146 IST--Info Edge (India)'s shares gained over 7% to hit a six-month high of INR 1,374.90 after brokerages took a positive stance on the company post its June quarter results. Brokerages expect the ocmpany to show a strong growth momentum going ahead. The company's billings for the quarter posted healthy growth, and the management has begun to see better outcomes from new offerings.
For the June quarter, Info Edge's net profit fell over 5% on year and nearly 21% sequentially to INR 2.46 billion. This was below the Street's estimate of INR 2.96 billion. The revenue of the company grew nearly 12% on year and over 2% on quarter to INR 8.24 billion, slightly below the analysts' expectations of INR 8.33 billion.
Info Edge's billings for the quarter rose over 14% on year to INR 7.37 billion. The Naukri.com operator's recruitment billings for the quarter gained nearly 18% on year to INR 5.53 billion, and real estate business billings rose nearly 17% on year to INR 1.10 billion. "Billings of Naukri (recruitment) B2C business grew 35% on the back of improvement in paid conversion and shift in online mix," Nuvama Institutional Equities said. The brokerage said it is positive on Info Edge based on its pricing power, commercial adoption, and monetisation of new artificial intelligence initiatives. The management said it does not want to slow down on investments in AI. Nuvama maintained a "buy" call on the stock with a target price of INR 1,520.
Nomura raised the target price on the stock over 12% to INR 1,480 and maintained a "buy" recommendation. The brokerage said signs of underlying momentum returned and raised the billings' growth estimate to 15% from 10?rlier. Nomura raised 2026-27 (Apr-Mar) – FY28 earnings per share estimate by around 3.7-7.5%, factoring in the June quarter results. "A downside risk is further slowdown in recruitment business," Nomura said.
At 1131 IST, shares of Info Edge traded nearly 7% higher at INR 1,371. Over 4 million shares of the company changed hands on NSE, higher than nearly 2 million shares traded till the same time Monday. The stock was the top gainer among the Nifty 200 constituents. Over the last 30 days the stock has gained 14%. (Adhithya Aji)
Equity Alert: Indices fall more, Nifty 50 at 1-week low; Tata Consumer dn 3%
MUMBAI--1145 IST--Domestic equity indices fell further and were 0.6% lower each after more stocks slipped into the red from earlier hours. The Nifty 50 index fell to a one-week low, with banking and infrastructure stocks being major laggards. Only 12 index constituents traded higher.
At 1126 IST, the Nifty 50 was at 24442.50, down 141.30 points from Wednesday. The BSE Sensex was at 78083.13, down 459.31 points. India VIX turned higher and was marginally up at 12.2975 points. Broader market remained mixed, with small-cap indices gaining marginally each and mid-cap indices falling slightly each.
Barring the Nifty IT, Nifty Pharma, and Nifty Consumer Durables, all sectoral indices were in the red. The Nifty Infrastructure fell the most, down almost 1%. The Nifty IT, up 0.5%, led the pack of gainers.
Tata Consumer Products turned out to be the major loser among Nifty 50 stocks, down nearly 3%. UltraTech Cement and Nestle India were down around 2?ch.
In the Nifty 200 index, Max Financial Services was the biggest drag, down almost 3%. In the Nifty 500 index, Triveni Turbine fell nearly 6%. Shares of the company fell after its June quarter net profit declined 21% on year on higher costs. Shares of KPI Green Energy fell 9?ter the company posted a 15% on-year fall in its consolidated net profit for the June quarter.
Dr. Reddy's Laboratories was the highest gainer in the Nifty 50 index, up nearly 2%. It was followed by gains in HCL Technologies and Titan Co., up around 1?ch.
Info Edge (India) was the top performer in the Nifty 200 index, up over 6%. The company Monday said it sees better margins with top line growth in the teens. Chennai Petroleum Corp. was the biggest gainer in the Nifty 500 index, up 11%. (Arundathi A R)
Equity Alert: Bharat Forge Q1 results miss view; analysts see recovery in H2
MUMBAI--1056 IST--Bharat Forge's net profit and revenue for the June quarter missed the consensus view but brokerages remain positive on the company's growth trajectory, especially in the latter part of this financial year. Its defence and aerospace businesses are expected to be the primary growth drivers, according to analysts. Several brokerages raised their earnings estimates for the company.
Owing to the margin pressure the company witnessed in the June quarter and losses in its US operations, Motilal Oswal Financial Services cut its earnings estimates for the company by 7% for 2026-27 (Apr-Mar). Bharat Forge reported a standalone earnings before interest, depreciation, and amortisation margin of 26.2% for the June quarter, lower than 27.9% a year ago. Meanwhile, its reported consolidated margin fell 130 basis points on year to 16.2%. The broking firm expects the company's revenue to grow at a compounded annual rate of 17?tween FY26 and FY28 and EBITDA at a rate of 24%. For the coming few years, the company's defence and aerospace verticals are estimated to see good growth, according to the brokerage. Motilal Oswal reiterated its "neutral" stance on the stock with a target price of INR 1,931.
Given the expectations of stronger revenue from the company's defence and aerospace divisions going ahead, Nuvama Institutional Equities raised its estimates for the company's EBITDA by 6% for FY28. The brokerage expects the company's revenue and EBITDA to increase at a compounded annual rate of 14% and 22% over FY26-28, respectively. The company's execution of its defence orders and growth in its construction equipment business and K Drive Mobility Solutions are seen as the key growth levers, the brokerage said. Growth in its defence vertical is expected to be driven by a pending order book of INR 112 billion.
Nuvama upgraded Bharat Forge to "hold" from "reduce" and raised its target price by over 27% to INR 2,100 apiece. Bharat Forge's revenue from its automobile segment is pegged to rise at a compounded annual rate of 23?tween FY26 and FY28, while its revenue from the industrials business is seen going up by 31% over the same period.
Bharat Forge's margin is expected to recover from the second half of FY27, supported by sustained growth in India's commercial and passenger vehicles segments, the scale-up of its defence business, and demand recovery in its North American commercial vehicle division, Emkay Global Financial Services said. Healthy growth in other industrial verticals is also likely to aid the company's growth. Emkay Global raised its earnings per share estimates for the company by 4–5% for FY27 and FY28 and hiked its target price to INR 2,400 from INR 2,100 earlier.
Bharat Forge's standalone net profit for the June quarter fell over 5% on year to INR 3.21 billion while revenue from operations rose 11.5% on year to INR 23.47 billion. At 1103 IST, the company's shares were slightly down at INR 2,082 on the National Stock Exchange. (Ruchira Kagita)
Equity Alert: Oil India up 7% as co ups crude oil output aim to 1 mln tn/qtr
MUMBAI--1047 IST--Shares of Oil India gained almost 7% to hit their highest level in over two months at INR 484 during early trade. This comes after the upstream oil company said it was increasing its crude oil output target to at least 1 million tonne per quarter from 950,000 tonne per quarter produced currently. In its post-earnings call with analysts, a senior official said the company's oil production is expected to reach 3.9 million-4 million tonne in 2026-27 (Apr-Mar) and 4.2 million tonnes in FY29.
Emkay Global Financial Services upgraded the state-owned company's stock to "buy" from "add", citing attractive valuations and strong production outlook, and retained its target price of INR 575 on the stock. The brokerage factors in crude oil prices of $85 per barrel in FY27 and $80 per barrel in FY28, but outlined any meaningful fall in crude prices as a key risk going forward.
For Apr-Jun, the state-owned oil company's net profit more than tripled on year to INR 28.70 billion due to higher crude oil production and realisations. The company's revenues came in at INT 79.58 billion, up 59%, which was the fastest pace of revenue growth in 16 quarters. Both the net profit and top line beat the Street's view comfortably. The Maharatna enterprise's earnings were boosted by an 11% growth in crude oil production and higher crude oil price realisations at $98.73 per barrel, which outperformed the consensus estimate of $96.6 per barrel.
At 1039 IST, shares of the company were trading over 4% higher at INR 473.10 apiece on the National Stock Exchange. The stock was among the top winners in the Nifty 200. More than six million shares of the company changed hands on the bourse, higher than around four million until the same time Monday. (Shruti Nair)
Equity Alert: Rail Vikas shares flat ahead of June quarter earnings
MUMBAI--1045 IST--Shares of Rail Vikas Nigam traded largely flat ahead of its June quarter earnings due later in the day. The company's net profit growth is expected to sharply outpace the on-year increase in revenue from operations, according to analysts at Prabhudas Lilladher Pvt. Ltd. At 1045 IST, shares of the company were flat at INR 230.70 on the NSE.
The brokerage expects the company's net profit to rise nearly 90% on year and over 14% sequentially to INR 2.43 billion. The net sales are estimated at INR 43 billion, up nearly 10% on year but down more than 35% sequentially. The earnings before interest, tax, depreciation, and amortisation are expected to be INR 1.72 billion.
"We expect revenue/EBITDA growth of 10%/225% in Q1FY27 (Apr-Jun). Expected EBITDA margin is 4%. Management guided for revenue growth of 15-20% in FY27 (2026-27); For margins they commented Improvement expected from 1QFY27," the brokerage said.
Monday, shares of Rail Vikas Nigam closed 1.2% lower at INR 230.68 on the National Stock Exchange. This is nearly 13% lower from the May. 26 level when the company announced its March quarter earnings. Of the two brokerage reports on the company available with Informist, one has a 'hold' recommendation with a target price of INR 334. This is nearly 45% higher than the current share price. One brokerage has a 'sell' rating with target price of INR 165 per share. This is over 28% lower than the current share price. (Astha Oriel)
Equity Alert: Viyash Scientific shares down 3% ahead of Apr-Jun earnings
MUMBAI--1030 IST--Shares of Viyash Scientific Ltd. fell around 3% ahead of its June quarter earnings, due later in the day. The company's consolidated net profit is expected to post modest growth sequentially for the June quarter. However, the company's revenue is expected to decline for the quarter. At 1027 IST, shares of the company were trading 0.5% lower at INR 272.35 on the NSE.
Viyash Scientific was formed by the merger of Viyash Life Sciences with Sequent Scientific after getting approval from the National Company Law Tribunal in November, 2025. Viyash Scientific started reporting earnings for the merged entity only from the year ago December quarter. Hence, profit and revenue numbers are not comparable with the year-ago period.
JM Financial Institutional Securities Pvt. Ltd. expects the company's consolidated net profit to grow 34% on quarter to INR 699 million from INR 521 million in the trailing quarter. The company's revenue from operations is expected to decline to INR 8.9 billion, down 3% on quarter from INR 9.2 billion in the trailing quarter. The company's earnings before interest, tax, depreciation, and amortisation are expected to fall 13% on quarter to INR 1.60 billion.
Viyash Scientific has a comprehensive portfolio of active pharmaceutical ingredients, advanced intermediates, finished dosage formulations, and a large-scale manufacturing to serve global healthcare needs. It also has a wide portfolio of animal health products.
All the four brokerage reports on the company available with Informist have a "buy" recommendation on the stock with an average target price of INR 317 per share. The target price is over 16% higher than the current market price. (Ayush Jaiswal)
Equity Alert: Gokaldas Exports shares down 1% ahead of June quarter results
MUMBAI--0953 IST--Shares of Gokaldas Exports traded at INR 786 at 0952 IST, down 1% ahead of its June quarter earnings. JM Financial Institutional Securities and Motilal Oswal Financial Services expect the company's consolidated net profit for the June quarter to rise 8% on year to INR 448 million. The textile company's consolidated net sales are expected to rise for the June quarter. JM Financial expects consolidated net sales to be up nearly 14% on year to INR 10.90 billion, and Motilal Oswal estimates a nearly 11% rise to INR 10.61 billion from the year ago quarter.
Gokaldas's profit is expected to be supported by 7-9% volume growth, Motilal Oswal said. The company's subsidiary Matrix Clothing is likely to provide strong growth, and its Dubai-based subsidiary Atraco Group is expected to rebound with 14-16% volume growth in the June quarter, according to Motilal Oswal. "We expect Gokaldas Exports to deliver strong growth, driven by capacity expansion in India and higher utilisation in Africa following the renewal of AGOA (African Growth and Opportunity Act)," Motilal Oswal said.
The company is expected to report consolidated earnings before interest, tax, depreciation, and amortisation of INR 1.14 billion, according to JM Financial, while Motilal Oswal expects it to be INR 1.08 billion. The company's EBITDA was INR 1.19 billion in the year-ago quarter. The company's June quarter EBITDA margin is expected to be 10.2%, according to Motilal Oswal. The textile company reported an EBITDA margin of 12.1% in the same quarter a year ago. Gokaldas Exports reported a net profit of INR 359.62 million on revenue of INR 10.69 billion during the March quarter.
Of the five brokerage reports on the company available with Informist, four have a "buy" recommendation on the stock while one has a "hold" recommendation. The average target price for the "buy" recommendations is INR 993.5 per share, which implies an upside of over 26% from the current market price. The target price for the "hold" recommendation is INR 914. (Janaki Venugopalan)
Equity Alert: Indices open down as oil prices at 2-wk high; Adani cos mixed
MUMBAI--0945 IST--Domestic equity indices opened marginally lower as crude oil prices surged to a nearly two-week high of $88 a barrel level. This comes after Iran ruled out future negotiations with US President Donald Trump and said it will not negotiate with Trump and will maintain its current strategy until his presidency ends in 2029. Shares of banking and financial services stocks were offloaded mainly in early trade. The Index Maintenance Sub-Committee (Equity) of NSE Indices has decided to make replacements of stocks in various indices as part of its periodic review. Accordingly, BSE will replace Wipro in the Nifty 50 index with effect from Sept. 30.
At 0924 IST, the Nifty 50 was at 24495.95, down 87.85 points or 0.4%. Only 14 of the 50-stock index members traded higher. The BSE Sensex was at 78223.11, down 319.33 points or 0.4%. The India Volatility Index, the fear gauge of the equity market, was marginally down at 12.1950 points. In the broader market, small-cap indices gained 0.3–0.5%, while mid-cap indices were down marginally each.
Most sectoral indices were lower early Tuesday, with the Nifty Private Bank being the biggest loser, down nearly 1%. The Nifty Financial Services and Nifty Bank were also down nearly 1?ch. The Nifty IT led the pack of gainers among sectoral indices, up nearly 1%.
InterGlobe Aviation became the key drag on the Nifty 50 index, down almost 2%, as crude oil prices rose sharply. The stock fell after two sessions of rise. Tata Consumer Products and Max Healthcare Institute were the next big losers in the index, down nearly 2?ch.
Banking and financial services stocks were the other major losers among Nifty 50 stocks, with Axis Bank shedding over 1%. Shriram Finance, Bajaj Finance, Kotak Mahindra Bank, and SBI Life Insurance Corp. were down around 1?ch.
Select automobile and information technology companies were among the few gainers in the Nifty 50 index. Eicher Motors was the top performer, up 1.5%. Bajaj Auto was up over 1%, while Maruti Suzuki India rose marginally.
Shares of Adani group companies were mixed after the US District Court for the Eastern District of New York dismissed the civil complaint filed against directors Gautam Adani and Sagar Adani by the Securities and Exchange Commission. The district court has mandated that Gautam Adani and Sagar Adani pay civil penalties amounting to $6 million and $12 million, respectively. At 0943 IST, barring Adani Energy Solutions and Adani Total Gas, all Adani companies were trading lower, down 0.1–0.4%. Adani Energy was up 0.3%, while Adani Total Gas rose 0.5%. (Arundathi A R)
Equity Alert: Seen in range; oil prices rise as Iran rules out talks with US
MUMBAI--0835 IST--Headline equity indices are likely to move in a range Tuesday as indicated by the GIFT Nifty's August futures contract levels. The market sentiment is expected to largely depend on crude oil prices as they surged to a nearly two-week high of $88 a barrel level on reports Iran ruled out future negotiations with US President Donald Trump and said it will not negotiate with Trump and will maintain its current strategy until his presidency ends in 2029.
Trump Monday responded to Iran's conditions for a peace deal with his own demand that Iran pay compensation for people killed in wars, attacks, and protests, Reuters reported. "We're going to ask for money for the damage they've done over a 50-year period," Trump said at the White House.
Shares of Adani Group companies will be in focus Tuesday after reports said a US judge Monday dismissed criminal charges against Indian billionaire Gautam Adani, but said the Justice Department's decision to abandon the fraud and bribery case was concerning. Reacting to this, Gautam Adani, in his X account, wrote that he welcomes the US court's decision with humility and deep respect for the judicial process.
At 0832 IST, the August futures contract of GIFT Nifty was a tad lower from Monday at 24598.50. This was almost 15 points higher than the Nifty 50's Monday close at 24583.80 and indicated the movement of indices within a range for Tuesday. "The technical view remains positive at current levels," Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research, said. "However, a sustained daily close above the 200-DMA would provide higher conviction to the bullish setup and could open the possibility of the index moving towards the 25200 level. In the near term, the buy-on-dips strategy remains favourable, with immediate support levels placed at 24500 and 24400. As long as these support levels hold, the broader bullish view remains intact." Volatility is also expected on the expiry day of the Nifty 50's weekly derivatives contract, like the index testing 24700 and then again going back to 24550-24500, Kewat said.
Market participants are expected to closely watch the closing auction system, even though indices gained in tandem on Monday for the first time since the system was implemented last week. At the end of the continuous trading session at 1515 IST Monday, the Nifty 50 was at 24560.15 points, a tad down from Friday. The BSE Sensex was also slightly down from Friday at 78478.66 points. After the closing auction session, the Nifty 50 ended at 24583.80, up 13.15 points or 0.1% from Friday's close.
All three major US indices closed lower Monday. Barring the CSI 300 Index and the Hang Seng Index, all major Asian equity indices were higher in early trade. Japan's Nikkei 225, up 2%, was the highest gainer among them. (Arundathi A R)
Equity Alert: Asian markets mixed; crude oil price hike stokes inflation fear
MUMBAI--0801 IST--Asian indices opened mixed Tuesday amid the rise in crude oil prices due to uncertainty regarding the reopening of the Strait of Hormuz. Brent crude oil October futures rose to an almost two-week high of $88.09 per barrel Tuesday. Sentiment in the region was also affected by the outlook for global inflation due to rising oil prices. South Korea's Kospi and Singapore's FTSE Strait Times both rose around 1%. Hong Kong's Hang Seng and Mainland China's CSI 300 were in red.
The rise in crude oil prices came after US President Donald Trump Monday responded to Iran's conditions for a peace deal with his own demands, CNBC reported. Trump demanded Iran should pay compensation for people killed in wars, attacks, and protests, in a rhetorical escalation likely to complicate efforts to reopen the crucial waterway, the report said.
Meanwhile, Kospi heavyweight Samsung Electronics rose more than 3%, but SK Hynix fell 1%. In Japan, semiconductor maker Disco Corp. rose around 8%, Advantest rose more than 6%, and Tokyo Electron rose more than 4%. In Hong Kong, shares of heavyweights Alibaba rose around 1% but those of Baidu fell around 2%. Meanwhile, in Australia, shares of BHP Group rose around 1%. Shares of Commonwealth Bank of Australia and Westpac Banking Corp. traded flat and those of National Australia Bank fell slightly.
Following are the levels of key indices in the region at 0755 IST:
|
Index |
Level |
Change in % |
|
S&P/ASX 200 Index |
9247.10 | 0.2 |
|
KOSPI Index |
6351.71 | 0.8 |
|
Hang Seng Index |
25909.93 | (-)0.1 |
|
CSI 300 Index |
4685.98 | (-)0.3 |
|
FTSE Singapore Strait Times |
5766.90 | 1.2 |
(Deesha Jadhav)
Equity Alert: US indices close lower; tech selloff, West Asia concerns weigh
MUMBAI--0710 IST--Major US indices closed lower Monday owing to a selloff in major technology stocks and on renewed concerns related to the war in West Asia. The technology-heavy Nasdaq Composite closed lower while the S&P 500 and the Dow Jones Industrial Average also closed slightly lower.
Iran reportedly said it is closing in on a deal with Oman to reopen the Strait of Hormuz, CNBC reported. But Tehran has continued to resist direct negotiations with the US until several conditions are met. Iranian Foreign Minister Abbas Araghchi said Sunday there was "no possibility of restarting negotiations" as long as the US continues violating the June memorandum of understanding, without compensating for its "violations," Tasnim News Agency, a semi-official news outlet associated with the Islamic Revolutionary Guard Corps, reported.
Meanwhile, major technology players such as Intel, Nvidia, and Broadcom posted losses Monday. Shares of Intel Corp. closed more than 4% lower after the seller of computer chips announced it plans to raise $15 billion through a share sale, CNBC reported. Shares of semiconductor manufacturer Broadcom fell more than 1%, Apple fell 1.5%, and those of Nvidia fell nearly 3%.
There is an upside to Broadcom as its custom artificial chip business expands beyond Google, Meta, OpenAI, Anthropic, and Apple, while advanced packaging technology could significantly increase chip production, Vijay Rakesh, an analyst at Mizuho, told CNBC. "We see it best positioned in AI ASIC market at a significant discount and its pipeline expands with a wide technology moat," Rakesh said.
The likelihood that the US Federal Reserve will raise interest rates at its September meeting has increased to 51.2% from 44.4% earlier, according to the CME Fedwatch tool. Earlier, expectations for a rate hike had fallen to 44.4% from 67.2% on the back of weaker-than-expected jobs data.
Following were the closing levels of major US indices Monday:
|
Index |
Level |
Change in % |
|
Dow Jones Industrial Average |
53975.98 | (-)0.1 |
|
NASDAQ Composite |
26605.36 | (-)0.3 |
|
S&P 500 |
7753.11 | (-)0.1 |
(Deesha Jadhav)
US$1 = INR 95.44
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Himanshi Gupta
All prices from National Stock Exchange, unless otherwise specified.
All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.
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