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Stock Market Live Updates: Nifty Falls Below 25,000 Mark, Sensex Down 515 Pts; Pvt Banks Under Pressure
Indian stock market is expected to start Friday's session on a cautious note, with the benchmark indices, Sensex and Nifty 50, likely to open flat. This comes despite encouraging signals from global markets, which generally support a positive sentiment.
GIFT Nifty, which serves as an early indicator for the Nifty 50, was trading near the 25,199 mark in early trade. This is about 24 points higher than the previous close of Nifty futures, indicating only a marginally positive bias and pointing to a relatively quiet or flat start for Indian equities.
In the previous session on Thursday, domestic markets ended lower. The BSE Sensex slipped by 375.24 points, or 0.45%, and closed at 82,259.24. Meanwhile, the NSE Nifty 50 dropped 100.60 points, or 0.40%, to end the day at 25,111.45falling below the 25,200 level.
The decline was mainly driven by selling pressure in IT stocks and cautious investor sentiment ahead of key economic events, such as the outcome of the US-India trade talks.
Asian markets gained, while the US stock market ended higher overnight, with the S&P 500 and the Nasdaq Composite closing at record highs.
Results Today (July 18):
Several companies will announce their quarterly results today, including Reliance Industries, JSW Steel, Bandhan Bank, Aarti Drugs, Atul, Hindustan Zinc, IndiaMART InterMESH, Indian Overseas Bank, L&T Finance, Mahindra EPC Irrigation, Mastek, Mangalore Refinery and Petrochemicals, and Indosolar.
While global cues remain supportive, domestic factors and recent market weakness may limit gains and keep Friday's opening range-bound. Investors will be closely watching earnings announcements and other corporate developments for further direction during the trading session.
360 ONE WAM LTD – Profitability strong; focus on scaling net flows (Add, TP: Rs1,275)
“360 One WAM have started registering the numbers of acquired companies which should help boost profitability. The active ARR AUM grew 30% YoY to Rs2.9tn, with its 360 One Plus business continuing to post the highest growth. We bake in a 22% CAGR in AUM over FY25-28. Net flows were impacted by recent departures but still the management is hopeful of achieving its 12-15% flows (of opening wealth AUM). We continue with net flows estimates (excluding B&K) of Rs310bn/Rs380bn for FY26/FY27 and Rs450bn for FY28. Blended yields remained high though there could be a decline in the next 2-3 years due to mix change. PAT grew by 18% YoY to Rs2.9bn in Q1FY26. We increase our PAT estimate marginally for both FY26 and FY27 and expect to clock 19% CAGR over FY25-28. We roll over the valuation to Sep’27 and use SOTP method to value the company. The blended target multiple comes to 32x with a revised target price of Rs1,275 (vs Rs1,180 earlier). Owing to recent run up in stock prices we see limited upside. Thus, we downgrade the stock to ADD,” Centrum Broking said in a report.
LTIMindtree – In-line performance; Deal booking strong at US.63bn (Buy, TP: Rs6,273)
“LTIMindtree reported in-line performance for the quarter. Revenue growth and EBIT margin were in-line with expectation. Revenue stood at Rs 98.4 Bn (up 0.7% QoQ, 7.6% YoY in INR terms; up 2.0% QoQ, 5.2% YoY in USD terms; up 0.8% QoQ, up 4.4% YoY in CC terms). Segment-wise, BFSI was up by 1.6% QoQ; Manufacturing was up by 0.3% QoQ; while Tech, Media & Comm up by 0.8% QoQ; Consumer Business was up by 6.2% QoQ; with Healthcare, Life Sc. & public services was up by 4.8% QoQ in USD terms. EBIT Margin increased by 60 bps to 14.3%, led by lower direct costs (down by 0.9% QoQ). Reported Deal booking was $ 1.63 Bn vs $ 1.40 Bn in Q1FY25. Headcount fell by 418 QoQ to 83,889. Attrition remained flat QoQ to 14.4%. Utilization increased by 230 Bps to 88.1%. 17 new clients added this quarter vs 26 in Q4FY25. DSO (Billed) increased by 4 days QoQ to 59 days this quarter. Client priorities remain anchored in simplification, operational efficiency, and AI-led transformation. The company’s “Fit4Future” program has started yielding results from Q1FY26, aiding margin expansion through streamlined cost structures, improved agility, and tighter execution discipline across delivery and support functions. We expect Revenue/EBITDA/PAT to clock a CAGR of 11.5%/14.5%/14.8% over FY25-FY28E. We have revised our FY26E/FY27E EPS by (3.9%)/(3.2%). We rollover to Sep’27E and maintain BUY rating with a revised target price of Rs 6,273 (vs Rs 6,177 earlier) at a PE of 28x (unchanged) on Sep’27E EPS,” Centrum Broking said in a report.
Stock Market Live Updates: Nikkei Ends Lower Despite Weekly Gain
Japan's Nikkei index closed 0.21% lower at 39,819.11 on Friday, even as it posted a 0.63% weekly gain, snapping a two-week losing streak. The broader Topix also slipped 0.19% to 2,834.48. Chip equipment maker Advantest fell 4.44%, becoming the biggest drag on the index, while tech investor SoftBank Group surged 5%, offering the strongest support.
F&O Expiry Highlights By Mr. Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd
Nifty opened on a flattish note today but failed to hold the 25250 mark and witnessed profit booking for most part of the session. For the fourth consecutive day, the index has been struggling to reclaim its 20-day EMA, which is currently placed around 25250. The absence of follow-up buying at higher levels and consistent selling pressure continue to weigh on sentiment. Throughout the week, Nifty has traded within a narrow range of 25000 to 25250, reflecting indecisiveness and lack of strong directional momentum. On the daily chart, the index has formed a bearish candle, while the weekly formation is a Doji — indicating a tug of war between bulls and bears at current levels. Going forward, as long as Nifty remains below 25300, the bias may stay negative with downside support seen near 25000. On the upside, immediate resistance is placed at 25250 followed by the 25400 mark. The FIIs long-short ratio is hovering near 18% from last few sessions and index is witnessing some sort of pressure on upper levels. Now till it holds below 25300, weakness can be seen towards 25000 and then 24800 zones while hurdles at 25250 and then 25400. On option front, Maximum Call OI is at 25200 then 25500 strike while Maximum Put OI is at 25000 then 25200 strike. Call writing is seen at 25200 then 25500 strike while Put writing is seen at 25200 then 25100 strike. Option data suggests a broader trading range in between 24600 to 25600 zones while an immediate range between 24900 to 25300 levels.
Stock Market Live Updates: FM Sitharaman Urges PSU Banks to Increase Lending
Finance Minister Nirmala Sitharaman has urged public sector banks to ramp up lending activity in response to signs of weakening credit growth in the economy. Meanwhile, private banking giants HDFC Bank and ICICI Bank are expected to see limited profit growth in the near term, primarily due to margin compression challenges impacting their net interest income.
Stock Market Live Updates: Nifty 50 Slips Below 25,000 Amid Pressure from Private Banks
The NSE Nifty 50 index fell below the crucial 25,000 mark on Friday, weighed down by selling in private banking stocks. Financials, which were earlier expected to act as a defensive sector in the first quarter, are now under pressure following a disappointing earnings report from Axis Bank.
Angel One: Management looks beyond recent issues, Maintain BUY
“(1) Traditional businesses – There has been sequential improvement in broking business and management guides for further sequential improvement (2) Operating margin – Underlying cost slower than headline cost and management stated that cost growth would lag revenue growth (3) We maintain ‘BUY’ rating on Angel One with a revised price target of Rs 3300,” said YES SECURITIES in a report.
Axis takes conservativeness to a whole new level, Maintain BUY
“Asset Quality – Gross slippages rose materially on sequential basis but mainly due to “technical” slippages due to change in recognition policy (2) Net Interest Margin – NIM contracted materially on sequential basis as the impact of repo rate cuts started to play out (3) Balance sheet growth – Loan growth for the quarter remained subdued but guidance was relatively encouraging (4) We reiterate BUY rating on AXSB with a revised price target of Rs 1500,” said YES SECURITIES in a report.
HDFC Asset Management Company Ltd – A perfect quarter (Add, TP: Rs5,886)
“HDFC AMC had another strong quarter with PAT and core PAT numbers ahead of our estimate. QAAUM grew 23% YoY to Rs8.3tn whereas actively managed equity QAAUM grew 22% YoY to Rs5.0tn at end Q1FY26. The overall QAAUM and actively managed equity QAAUM market share remained broadly stable at 11.5% and 12.8% respectively. Yield increased marginally to 47bps. Direct channel continues to grow within the distribution network. We introduce FY28 numbers. We have increased our PAT estimates by 5% for FY26/FY27 and expect it to clock a 14% CAGR over FY25–28, while core PAT is projected to grow at 15% CAGR. QAAUM estimates are increased by 2–3% for FY26/FY27, and now expect QAAUM to grow at a 19% CAGR over FY25–28. The equity QAAUM is expected to clock 22% CAGR over FY25-28. We rollover the valuation to Sep’27 providing a higher multiple of 37x (vs 36x) – 10% premium to long term mean - leading to a revised target price of Rs.5,886 (vs.Rs5,080). Owing to recent price increase, we see limited upside and hence downgrade to ADD,” Centrum Broking said.
Markets At 10 AM, The Benchmark Indices Are Trading in Red
The Sensex is down 315. 90 points or 0.38 % at 81,943.34, while the Nifty 50 is trading low by 99.30 points or 0.38% to 25,015.20
Stock Market Live Updates: Top Gainers And Losers
Wipro, Tata Steel, M&M, Power Grid, ONGC, and Hindalco are among the Nifty gainers at 9.50 AM. While Axis Bank, Tech Mahindra, SBI Life, Eternal, Kotak Bank, and Bharti Airtel are among the top Nifty losers.
State of Indian Economy
In July, so far, India has been underperforming most markets, with a dip of 1.6% in Nifty. A significant contributor to the decline is the selling by FIIs. There is a clear pattern in FII activity this year so far. They were sellers in the first three months. For the next three months they turned buyers. And in the seventh month the trends so far indicate further selling unless some positive news reverse the downtrend in the market. Along with selling in the cash market FIIs have been increasing short positions in the derivatives market too, which reflect a bearish outlook. Elevated valuations in India and cheaper valuations in other markets will continue to influence FII activity. A significant feature of economic activity in India during the recent years has been the resilience of luxury consumption and weakness in mass consumption. Early indications from Q1 results -good results from hotels industry- indicate continuation of this trend. Niche luxury segments across sectors are likely to do well, according to Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments
Stock Market LIVE Updates: Sensex, Nifty Opened In Red
The BSE Sensex opened at 82,213.49 levels, down 45.75 pts or 0.06 per cent. while the NSE Nifty50 started today’s session at 25,108.55 levels, down 3 points or 0.01 per cent.
Rupee vs Dollar
The Indian rupee started the day weaker, opening 6 paise lower at 86.13 against the US dollar. On Thursday, it had closed at 86.07
Global Market Update
The US stock market closed higher on Thursday. Both the S&P 500 and the Nasdaq Composite reached record high levels because of good economic news and strong company earnings. The Dow Jones Industrial Average went up by 229.71 points, or 0.52%, to reach 44,484.49. The S&P 500 increased by 33.66 points, or 0.54%, closing at 6,297.36. The Nasdaq Composite rose 153.78 points, or 0.74%, ending the day at 20,884.27.
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