Sensex, Nifty Break Five-Day Losing Streak, SBI Shares Jump: 10 Things To Know
- Overall market breadth was positive as 1,444 shares advanced while 1,182 declined on the BSE. Top gainers on the Nifty 50 were SBI, Bajaj Finance, Dr Reddy's Laboratories, Tata Motors and Bajaj Auto, finishing with gains of around 3-6 per cent.
- PSU banking stocks jumped, with the NSE's index of state-run lenders - Nifty PSU Bank - closing 3.2 per cent higher. Punjab National Bank (PNB) shares gained 4.4 per cent, Bank of Baroda rose 2.3 per cent. Union Bank of India and Bank of India closed 1.7 and 0.9 per cent higher respectively.
- PNB shares gained for a second session. Moody's Investors Service had on Monday downgraded the bank's rating citing the impact of recent fraud on its capital as well as weak internal controls. However, the outlook to the rating was retained as stable which reflected Moody's expectation that the negative impact of the fraudulent transactions was largely known.
- State Bank of India (SBI) shares jumped after the country's largest lender posted its earnings for the January-March quarter. SBI reported a loss of Rs. 7,718 crore ($1.1 billion) - its biggest ever - in Q4, as the bank set aside more provisions for bad loans after a change in banking regulation.
- Metal stocks rose, with JSW Steel gaining nearly 3 per cent and Hindalco Industries rising 6.7 per cent. Vedanta rose 2.3 per cent. Coal India settled 3.3 per cent higher. The Nifty Metal index ended 1.8 per cent higher.
- Among auto stocks, Ashok Leyland rose nearly 5 per cent, Tata Motors 4 per cent. Maruti Suzuki India and Bajaj Auto settled 1.6 per cent and 3.2 per cent higher.
- Losses in FMCG shares, led by ITC, also kept the gains in check.
- Domestic institutional investors (DIIs) made purchases worth Rs 1,190.56 crore while foreign portfolio investors (FPIs) sold shares worth a net Rs 496.03 crore on Monday, provisional data shows.Â
- Real estate developer DLF Ltd's shares fell to their lowest in over 6 months after posting a 38 per cent plunge in fourth-quarter revenue from operations.
- The BSE Sensex had lost a total 940 points in the past five sessions while the NSE Nifty lost 289 points.
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
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France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
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You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
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Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
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Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
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India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
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When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
