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India's benchmark indices, Nifty and Sensex, ended lower on Thursday, ending three days of advances. Dalal Street took cues from international peers — Japan's Nikkei, China's Shanghai, the German DAX and the British FTSE — which all struggled due to slump in metal prices and the shock from Anthropic's new AI tool.
The rupee closed eight paise stronger against the US dollar. The local currency ended at 90.35.
The 10-year government bond yield was down two basis points at 6.88%. Trading ends at 5:00 p.m.
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The rupee closed eight paise stronger against the US dollar. The local currency ended at 90.35.
The 10-year government bond yield was down two basis points at 6.88%. Trading ends at 5:00 p.m.
India's benchmark indices, Nifty and Sensex, ended lower on Thursday, ending three days of advances. The Nifty 50 ended 133 points or 0.5% lower at 25.642 and the BSE Sensex tanked 506 points or 0.6% at 83,311. The boarder market showed mixed performance with the Nifty Midcap 150 down 0.3% and Nifty Smallcap 250 down 1%.
Market breadth remained weak, with the advance–decline ratio at 21:29. Among Nifty constituents, Hindalco Industries was the top loser, falling more than 3%. In the midcap space, Tube Investments and Hindustan Zinc led the declines.
Sectoraly, all indices ended in the red except Nifty PSU Bank. The Nifty Metal index was the worst performer of the day, falling more than 1%. Vedanta and Hindustan Zinc weighed heavily on the metal index, with both sto
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Page Industries is in focus after it reported a year-on-year fall in Q3 net profit, while revenue and EBITDA rose. The company also reported a one-time cost linked to new labour codes.
Q3 (YoY)
• Net profit fell 7.4% to Rs 190 crore from Rs 205 crore.
• Revenue rose 5.6% to Rs 1,387 crore from Rs 1,313 crore.
• EBITDA rose 5.2% to Rs 318 crore from Rs 303 crore.
• EBITDA margin stood at 22.9%, versus 23% a year earlier.
DLF is in focus after brokerage firm Citi upgraded the stock to Buy from Neutral and set a target price of Rs 830.
The brokerage said DLF leads in the ultra-luxury segment and cited its segment mix, balance sheet position and inventory discipline. It also said the stock trades below its historical averages. The note said DLF is balancing development and annuity, and it described DLF as an ultra-luxury player.
India remains open to exploring the commercial merits of new crude supply options, including from Venezuela, in line with its approach to energy security, NDTV reported quoting Ministry of External Affairs.
Venezuela has been a long-standing partner of India in the energy sector through trade and investments, the report said, adding that It was among India’s major sources of crude oil until FY 2019-20, when imports stopped after sanctions. "Imports resumed in FY 2023-24, then stopped again after sanctions were re-imposed. Indian state-owned firms have worked with Venezuela’s national oil company, PdVSA, and have maintained a presence in Venezuela since 2008."
Brent fell 1.5% to $68.41 a barrel, while WTI fell 1.54% to $64.13 a barrel.
Q3 (consolidated, YoY)
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Market veteran Samir Arora on Thursday criticised Indian IT companies, saying they lack long-term vision and focus only on near-term earnings. “As I have said many times here, Indian IT companies cannot see beyond their nose—they only worry about next quarter's orders and guidance, and if there is visibility for that, they feel confident,” he said in an X post.
Arora pointed out that just days ago, analysts were praising Infosys' share buyback plan as a major positive for the sector. At the same time, global technology giants were making far bigger moves.
Source: NDTV
Suzlon Energy
Devyani International
JSW Cement
Source: Bloomberg
Indian stocks beyond the large-cap universe are doing worse than the benchmark Nifty and Sensex.
The Nifty Smallcap 250 is down 1%.
"IT need to bet their balance sheet to something new and markets need to be able to hold them for a period of time at a elevated valuation. Both are challenging," Ramesh Damani, market veteran, told NDTV Profit.
Economists see RBI keeping the repo rate unchanged as inflation rises from recent lows, growth holds up and the impact of earlier easing continues to filter through the economy.
India's External Affairs Minister S Jaishankar on Wednesday said that detailed negotiations on the India-US trade agreement are currently underway, following high-level conversations between Prime Minister Narendra Modi and US President Donald Trump. Speaking on the sidelines of the Critical Minerals Ministerial in Washington DC, Jaishankar clarified that the trade talks are being directly handled by Commerce and Industry Minister Piyush Goyal, with formal engagement ongoing with the US Trade Representative.
"It is hard for me to say [the timeline], and the Commerce Minister would know it better, because he is in direct engagement," Jaishankar said, adding that a joint statement outlining the tenets of the agreement is expected soon.
Shares of Hindustan Aeronautics extended declines for the second consecutive trading session. The stock fell as much as 4.3% to Rs 4,036.
HAL share price was in focus after it said it has not received any official communication on the AMCA programme.
The Indian rupee weakened for second consecutive trading session. The local currency depreciated as much as 0.1% to 90.52 against the dollar
January ACT Class 8 orders stood at 30800 units, up 20% from the year-ago period.
Key Results Highlights (Q3, Consolidated, YoY)
Source: Bloomberg
Source: Bloomberg.
Source: Bloomberg.
Cummins India Q3 (Standalone, YoY)
Key Results Highlights (Q3, Consolidated, YoY)
Hindustan Aeronautics Ltd. is in focus after it said it has not received any official communication on the AMCA programme.
Futures edge up; Asian equities mixed in early trade
Source: Bloomberg
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