Markets fall for second day running; IT counters drag
The Hindu
Market benchmark indices declined in early trade on May 17, extending their previous day’s fall, dragged down by IT counters and a weak trend in the U.S. equities.
Market benchmark indices declined in early trade on May 17, extending their previous day's fall, dragged down by IT counters and a weak trend in the U.S. equities.
The 30-share BSE Sensex fell 100.87 points to 61,831.60 after a flat start to the trade. The NSE Nifty dipped 29.1 points to 18,257.40.
Among the Sensex firms, Wipro, Infosys, HCL Technologies, Tata Consultancy Services, Tech Mahindra, Hindustan Unilever, Bajaj Finserv, and Bajaj Finance were the major laggards.
Bharti Airtel, IndusInd Bank, Larsen & Toubro, ITC, UltraTech Cement, and State Bank of India were among the gainers.
In Asia, Seoul, and Tokyo markets were trading in the green, while Shanghai and Hong Kong quoted lower. The U.S. market ended lower on May 16.
Foreign Institutional Investors (FIIs) were buyers on Tuesday as they bought equities worth ₹1,406.86 crore, according to exchange data.
"As a batsman approaches a century, he might get stuck for a while in the 'nervous nineties'. It appears that the market is in a similar state while approaching a new all-time high. Even though the conditions are favourable for a new record, there are near-term issues such as the U.S. debt ceiling impasse which can weigh over global markets in the near-term," V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
Sensex rises nearly 450 points amid metal shares buying and positive global trends, with Tata Steel and Maruti among top gainers.
India and New Zealand are working to expedite Free Trade Agreement negotiations to enhance trade and investment benefits.
The rupee falls 9 paise to a record low of 90.41 against the dollar amid trade deal uncertainties and foreign fund outflows.
Mercedes-Benz India will increase vehicle prices by up to 2% in January to counter rising costs and currency pressures.
CCI is investigating if IndiGo violated competition norms amid significant flight disruptions and concerns over its dominant market position.
The Coal Controller Organisation is appointed to regulate and register proposed coal exchanges, enhancing market competition and oversight.
The rupee hits a record low amid U.S. trade stalemate and portfolio outflows, prompting potential RBI intervention.
November 2025 sees robust growth in India's auto industry, with record sales in passenger vehicles, two-wheelers, and three-wheelers.
Stock markets soar as Sensex and Nifty extend gains in early trade, driven by positive global trends and U.S. rate cuts.
Petroleum and Natural Gas Rules 2025 amended to enhance business ease, extend lease durations, and strengthen domestic exploration infrastructure.
Tata Hitachi strengthens its focus on India's construction market amid global tariffs and rupee depreciation, leveraging local growth opportunities.
Domestic household savings replace foreign institutional money, giving Indian markets stability but raising concerns about unequal participation and limited returns for new retail investors. Access asymmetry and unequal outcomes emerge as key challenges, making investor protection, lower fees, passive investing, and stronger governance crucial.
The Ministry of Petroleum and Natural Gas (MoPNG) should work closely with the Ministry of External Affairs (MEA), and other concerned government agencies, to strengthen diplomatic engagement with oil-producing countries, secure favourable investment terms and address tax and regulatory hurdles faced by public-sector enterprises (PSEs) abroad, the parliamentary committee on public undertakings (2025-26) stated in their latest report tabled Wednesday.