MOSt Market Roundup : Equity benchmarks, Sensex and Nifty, experienced a decline for eight consecutive trading sessions by Motilal Oswal Wealth Management
• Equity benchmarks, Sensex and Nifty, experienced a decline for eight consecutive trading sessions, with the Nifty mid-cap and small-cap indices plummeting more than 2% each. This drop was driven by concerns over US President Donald Trump's reciprocal tariff policy and continued foreign investor outflows, which weighed heavily on market sentiment.
• Additionally, weak corporate earnings added further pressure. The Sensex fell by 200 points, or 0.3%, to 75,939, while the Nifty slipped by 102 points, or 0.4%, below the 23,000 mark, settling at 22,929.
• Both Sensex and Nifty partially recovered from their earlier 1% intraday losses, thanks to short covering in the latter part of the day. Trump's announcement about imposing reciprocal tariffs created uncertainty in trade relations between India and the US.
• He highlighted that despite previous efforts, India's trade barriers remained high, making it difficult for US businesses to operate. His comments led to widespread selling in the markets, with the Nifty 500's advance-decline ratio at 1:9, signaling aggressive selling.
• Over the past eight sessions, the Nifty has dropped nearly 1,000 points, or 4.5%, while both the mid-cap and small-cap indices have fallen by 11%.
• Globally, Asian and European markets showed mixed reactions as investors saw signs that the reciprocal US tariffs may be weeks away from implementation, raising hopes for negotiations that could reduce their impact
• Vedanta Paid $511.6m in Connection to 2026, 2028 Bond Tenders - The total aggregate principal amount of bonds tendered pursuant to the tender offers was about $196m of 2028 bonds and $303.7m for the 2026 bonds
• RBL Bank - Reserve Bank of India (RBI) has approved the re-appointment of R Subramaniakumar as the Managing Director & CEO of the bank for a period of three years.
• NBCC – Company won orders worth construction order worth Rs852cr
• Fortis Healthcare New Acquisition - Fortis Healthcare subsidiary will acquire Shrimann Superspecialty Hospital For Rs 462 crore, including two land parcels for Rs 38.5 crore.
• BPCL signs 1-year with TotalEnergies for Middle East Crude – Company signed a term contract with TotalEnergies Trading Asia to buy Middle Eastern crud
• Landmark Cars – Company enters into a bespoke Agreement with a Stellantis Group Company for sale and after sale business of Citroen Cars from existing Jeep Outlets in Mumbai • Glenmark Pharma – Company introduces Latanoprost Ophthalmic in US. Latanoprost Ophthalmic a prescription eye drop used to treat glaucoma and ocular hypertension
• Asian Paints – Company will divest from its Indonesia business and sell its operations there to Berger Paints Singapore for Rs 48 crore.
• Vodafone Idea, Bharti Airtel lose AGR dues case as SC dismisses pleas - The Supreme Court has dealt a significant blow to telecom operators such as Vodafone Idea and Bharti Airtel, dashing their hopes of securing a reduction in statutory dues. The apex court rejected a series of review petitions filed by telecom firms challenging its 2021 verdict, which had refused to allow corrections in the Department of Telecommunications’ (DoT) computation of adjusted gross revenue (AGR) dues, including alleged miscalculations and unintended additions. With this ruling, the companies have exhausted their legal avenues, according to a report by The Economic Times.
Market Update
• European Market - European stocks edged lower on Friday as potential US tariffs implications weighed on sentiment. Luxury companies rose driven by solid earnings from Hermes International and Moncler SpA. UK Index advance 0.4% while marginally decline Germany and France Index.
• Asian Market - Asian equities witnessed mixed bag on Friday as markets reacted positively to signs reciprocal US tariffs may be weeks from coming into effect, raising the prospect for negotiations that could make them less punitive. Hong Kong Index gained 3.7% while Japan Index declined 0.5%
For More Research Reports : Click Here
For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412
