Foreign investors continue to pull back money from the Indian equity market, withdrawing Rs 24,753 crore (about $2.8 billion) in the first week of March amid escalating global trade tensions and lacklustre corporate earnings.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
From the Sensex pack, Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Tata Motors, Bajaj Finance, Kotak Mahindra Bank, Mahindra & Mahindra, Bharti Airtel and Maruti Suzuki India, Tata Steel were the major laggards. PowerGrid, Sun Pharmaceuticals, UltraTech Cement, NTPC, Asian Paints, Nestle India, Titan, IndusInd Bank and Axis Bank were among the gainers.
The "construct of the DPDP Act" cannot be changed at this stage, though there may be some minor tweaks in the language of the Rules and formats in certain legitimate cases.
A fresh US executive order (EO) which seeks to bring down prices of prescription drugs in the country by up to 90 per cent -- on par with other developed nations -- will affect innovator companies, while sparing the Indian generic drug makers in the short term. US President Donald Trump signed the EO on Monday, directing the US Trade Representative and the Secretary of Commerce to act against foreign countries that "purposefully and unfairly undercut market prices", driving price hikes in the US.
US President Donald Trump has proposed a deal to China that would see the sale of TikTok's US operations to an American buyer in exchange for a reduction in tariffs on Chinese exports to the US. The proposal comes amid a trade war between the two countries and follows China's retaliation of Trump's tariffs on Chinese goods. Trump has also said that tariffs are a powerful economic tool and that he is determined to ensure fair trade between the US and China.
Among the Sensex components, Nestle, Maruti, IndusInd Bank, ICICI Bank, Hindustan Unilever, Larsen & Toubro, Tata Consultancy Services, Infosys, HDFC Bank and Axis Bank were the major laggards. Tata Steel, JSW Steel, Power Grid, Tech Mahindra and State Bank of India were among the gainers.
US Vice President J D Vance and his wife Usha arrived in Delhi on Monday for a four-day visit. They were welcomed by Union Minister Ashwini Vaishnaw. Vance's visit comes amid ongoing trade talks between India and the US. Prime Minister Narendra Modi will host a dinner for the Vances on Monday evening after holding talks with the US Vice President. Vance and his family will also travel to Jaipur and Agra during their trip.
Stock markets will be driven by further developments on the US-China tariff war front along with quarterly earnings announcements from IT majors Wipro and Infosys in a holiday-shortened week, analysts said. Global market trends and trading activity of foreign investors would also dictate market movement this week, experts noted.
S&P Global Ratings on Thursday said the hostilities between India and Pakistan heighten risks to the credit metrics of both countries, and any escalation in clashes would put downward pressure on sovereign credit support.
The Government Law College, Mumbai, is inviting applications for its one year part-time Diploma Course in Securities Laws 2025-26.
The Ministry of External Affairs (MEA) has announced that India and China have reached an understanding to resume the Kailash Mansarovar Yatra in 2025. While an understanding has been reached, the modalities of the pilgrimage are yet to be firmed up. The Yatra has been suspended since 2020 due to the COVID-19 outbreak and non-renewal of Yatra arrangements by the Chinese side.
'For the Indian economy to maintain a growth rate of 7 to 8 per cent, it needs large foreign direct investment coming in, and that's mainly coming from the US.'
At the end of the day, for many worldwide, the ongoing mutual attacks between Israel and Iran would seem a contest devoid of any moral high ground and only a bout between two ordinary adversaries, one that nevertheless risks spinning out of control into a larger conflagration, notes Shyam G Menon.
'You can imagine for India what Shuks means not just to the billions of people in India but the entire Indian diaspora around the world.'
Falling for the fifth day in a row on Monday, equity benchmark BSE Sensex tumbled over 1 per cent to drop below the crucial 75,000 level, tracking a US market trend and unabated foreign fund outflows amid concerns over US tariffs. The 30-share BSE benchmark tanked 856.65 points or 1.14 per cent to settle at 74,454.41. During the day, it plummeted 923.62 points or 1.22 per cent to 74,387.44.
Equity benchmark indices are facing massive corrections, with the NSE Nifty declining over 14 per cent from its lifetime high hit in September last year due to several negative triggers like stretched valuations, foreign fund exodus, disappointing quarterly earnings and rising global trade tensions dragging markets lower. The BSE benchmark Sensex hit its record peak of 85,978.25 on September 27 last year, and the Nifty also reached a lifetime high of 26,277.35 on the same day.
Since October, FPIs have offloaded Indian equities worth Rs 2.1 trillion.
Benchmark Sensex declined over 45 points in highly volatile trade on Wednesday, tracking weak Asian markets and continuous foreign fund outflows. Declining for the second straight session, the 30-share BSE Sensex fell 45.46 points or 0.06 per cent to settle at 73,466.39. During the day, it went lower by 437.93 points or 0.59 per cent to 73,073.92.
Markets investors became richer by Rs 27.10 lakh crore as the BSE benchmark Sensex continued to rally for the sixth trading day, surging nearly 6 per cent during this period. On Monday, the 30-share BSE bellwether gauge jumped 1,078.87 points or 1.40 per cent to settle at an over six-week high of 77,984.38. During the day, the benchmark zoomed 1,201.72 points or 1.56 per cent to 78,107.23.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
All Sensex shares, except for Hindustan Unilever, ended with losses. Tata Steel fell the most by 7.33 per cent followed by Larsen & Toubro which cracked 5.78 per cent. Tata Motors, Kotak Mahindra Bank, Mahindra & Mahindra, Infosys, Axis Bank, ICICI Bank, HCL Technologies and HDFC Bank were the other big laggards. Hindustan Unilever ended marginally higher.
The resilience of the economy and strength of domestic demand will continue to make India an engine of growth amid the rapidly evolving global trade landscape as a result of US tariffs, Finance Minister Nirmala Sitharaman said in London on Tuesday.
'The market's nervousness ahead of anticipated US tariffs has led to a significant downturn in Indian equities.'
From the Sensex pack, Tata Steel, Zomato, Power Grid, UltraTech Cement, IndusInd Bank, Larsen & Toubro, Adani Ports, NTPC, State Bank of India and Reliance Industries were among the major gainers. On the other hand, Tech Mahindra, Tata Consultancy Services, ITC, Infosys, Sun Pharma, Maruti, HCL Tech, and Nestle were among the laggards.
"From President Trump's perspective, the one big shared enterprise that we have is the Quad, which is an understanding where everybody pays their fair share. There are no free riders involved. So that's a good model which works," he said. The Quad alliance consists of the US, India, Australia and Japan.
Global trends, trading activity of foreign investors and news flow on tariffs are expected to influence movement in the equity market in a holiday-shortened week ahead, analysts said. Equity markets would remain closed on Wednesday for 'Mahashivratri'.
The UK has strongly condemned a security breach involving a pro-Khalistan extremist rushing towards External Affairs Minister S Jaishankar's convoy in London. The incident took place as Jaishankar was leaving the Chatham House think tank on Wednesday evening. The protester was swiftly taken aside by officers of the Metropolitan Police, with no arrests being confirmed so far. The UK said such attempts to "intimidate, threaten, or disrupt" public events are "completely unacceptable". The incident comes after Jaishankar's talks with UK Foreign Secretary David Lammy, during which both leaders covered the entire gamut of bilateral ties, including the relaunched Free Trade Agreement (FTA) negotiations, regional and global issues. The MEA has condemned the security breach and the provocative activities of the "small group of separatists and extremists", calling on the UK to "live up to their diplomatic obligations".
The phone conversation came amid escalating tensions between India and Pakistan over the April 22 terror attack that killed 26 civilians.
Can a culture survive as a way of life, even as the language and writing at its core, alter with time? Can we be rational and Malayalee or do we have to necessarily be religious and proudly cultural to be Malayalee? asks Shyam G Menon.
'Every decision India makes along the LoC, it must also consider implications along the LAC.'
The chief adviser's decision to stay in office came two days after he told student-led National Citizen Party (NCP) leaders that he was mulling resignation as he felt "the situation is such that he cannot work", citing difficulties in working amid the failure of political parties to find common ground for change.
From the Sensex pack, NTPC, Tech Mahindra, Zomato, Axis Bank, Bajaj Finance, Infosys, Maruti, State Bank of India, Kotak Mahindra Bank, Reliance Industries, Hindustan Unilever, and HDFC Bank were the losers. IndusInd Bank, HCL Tech, Titan, Mahindra & Mahindra and Power Grid were the gainers.
From the Sensex firms, Tata Steel, Power Grid, NTPC, Kotak Mahindra Bank, Reliance Industries and Adani Ports were among the biggest gainers. Asian Paints and Tata Consultancy Services were the only laggards.
American President Donald Trump has announced imposing reciprocal tariffs on its major trading partners including China that levy higher import duties on goods shipped from the United States. He has already announced a 25 per cent duty on steel and aluminium imports, which will come into effect from March 12.
India's trade deficit with Russia continued to widen for the second consecutive year to $57 billion in the financial year 2023-24 (FY24), with Moscow becoming New Delhi's largest source of crude oil imports. All eyes will now be on Prime Minister Narendra Modi's visit to Russia during July 8-9, where he is set to meet President Vladimir Putin. This will be Modi's first visit to the Kremlin since the Russia-Ukraine conflict began over two years ago.
From the Sensex pack, Zomato jumped nearly 5 per cent, followed by Titan which climbed almost 4 per cent. IndusInd Bank, Maruti, Tech Mahindra, Adani Ports, Bharti Airtel and HDFC Bank were also among the gainers.
Market downturns or regulatory shifts can reduce liquidity, making it harder to buy or sell assets when needed.
With the new government taking charge in Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official said. The India-UK talks for the proposed free trade agreement (FTA) began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles.
'The policies announced by his administration are implemented faster.'
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