Indian equity benchmarks ended over half percent lower on Friday, marking their second straight day of losses due to foreign fund outflows and selling in banking shares after a muted start to the quarterly earnings season. The broader indices also witnessed profit booking, each shedding over half percent.
Some of the important factors in today’s trade:
India's goods exports likely to face some headwinds in fiscal 2026: Ratings firm CRISIL in its latest report has said that India's goods exports are likely to face some headwinds in fiscal 2026, as reciprocal tariffs imposed by the US are seen to aggravate this.
Goyal urges missions to resolve export barriers: Commerce and Industry Minister Piyush Goyal has urged Indian Missions abroad to help address trade barriers faced by local exporters in their respective countries.
India and US trying to iron out issues on proposed trade deal: The Ministry of External Affairs (MEA) has indicated that negotiations between India and the US are underway to iron out pending issues for a trade deal.
Tyre Industry’s stocks in watch: Tyre Industry’s stocks were in watch as a report by Crisil Ratings stated that the domestic tyre industry is expected to witness revenue growth of 7-8 per cent this fiscal year, driven by replacement demand that accounts for half of annual sales.
Global front: European markets were trading mostly in green amid hopes the European Union and the U.S. will agree on a trade deal before the deadline. Asian markets settled mostly higher on Friday as traders reacted to upbeat economic data from the U.S. and Japan that renewed optimism about the global economy.
Finally, the BSE Sensex fell 501.51 points or 0.61% to 81,757.73 and the CNX Nifty was down by 143.05 points or 0.57% to 24,968.40.
The BSE Sensex touched high and low of 82,334.75 and 81,608.13 respectively. There were 7 stocks advancing against 23 stocks declining on the index.
The broader indices ended in red; the BSE Mid cap index fell 0.62%, while Small cap index was down by 0.64%.
The lone gaining sectoral index on the BSE was Metal up by 0.43%, while Capital Goods down by 1.50%, Bankex down by 1.33%, Industrials down by 1.08%, Telecom down by 0.99% and Power down by 0.90% were the top losing indices on BSE.
The top gainers on the Sensex were Bajaj Finance up by 1.94%, Tata Steel up by 1.66%, ICICI Bank up by 0.52%, HCL Technologies up by 0.32% and Infosys up by 0.24%. On the flip side, Axis Bank down by 5.24%, Bharat Electronics down by 2.34%, Bharti Airtel down by 1.49%, HDFC Bank down by 1.47% and Kotak Mahindra Bank down by 1.44% were the top losers.
Meanwhile, ratings firm CRISIL in its latest report has said that India's goods exports are likely to face some headwinds in fiscal 2026, as reciprocal tariffs imposed by the US are seen to aggravate this. It said with the tariff hikes expected to come into effect from August, as India and the US are negotiating on a bilateral trade agreement and a key monitorable.
The report said global growth is expected to slow down to 2.9 per cent in 2025 from 3.3 per cent. Growth in the US, India's largest export destination, is projected to slow to 1.7 per cent from 2.8 per cent. Accordingly, India's merchandise trade is expected to come under pressure this fiscal.
However, the current account deficit (CAD) is expected to stay in the safe zone at 1.3 per cent of the GDP in the current financial year. The surplus in services trade, a robust flow of remittances is expected to cushion the CAD. Meanwhile, the World Trade Organisation forecasts a 0.2 per cent decline in the volume of merchandise trade in 2025 compared to 2.9 per cent in 2024.
The CNX Nifty traded in a range of 25,144.60 and 24,918.65. There were 17 stocks advancing against 33 stocks declining on the index.
The top gainers on Nifty were Wipro up by 2.21%, Bajaj Finance up by 1.97%, Tata Steel up by 1.63%, HCL Technologies up by 1.12% and IndusInd Bank up by 1.03%. On the flip side, Axis Bank down by 5.27%, Shriram Finance down by 3.06%, Bharat Electronics down by 2.38%, HDFC Life Insurance down by 1.78% and Kotak Mahindra Bank down by 1.67% were the top losers.
European markets were trading mostly in green; UK’s FTSE 100 increased 0.21 points or 0% to 8,972.85, France’s CAC rose 19.71 points or 0.25% to 7,841.71, while Germany’s DAX lost 1.25 points or 0.01% to 24,369.68.
Asian markets settled mostly higher on Friday tracking Wall Street’s gains overnight following encouraging tech earnings, while stronger than expected US retail sales and jobless claims suggested modest improvement in the US economic activity. Market sentiments improved further after Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month to counter rising growth and job market risks. Chinese shares gained amid expectations the government may roll out more stimulus to boost domestic demand and lift corporate profits. However, Japanese shares declined after data showed Japan's core inflation rate fell to 3.3% in June, down from a 29-month high of 3.5% in May.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,534.48 | 17.65 | 0.50 |
Hang Seng | 24,825.66 | 326.71 | 1.32 |
Jakarta Composite | 7,311.92 | 24.90 | 0.34 |
KLSE Composite | 1,525.86 | 4.92 | 0.32 |
Nikkei 225 | 39,819.11 | -82.08 | -0.21 |
Straits Times | 4,189.50 | 28.07 | 0.67 |
KOSPI Composite | 3,188.07 | -4.22 | -0.13 |
Taiwan Weighted | 23,383.13 | 269.85 | 1.15 |
