Barometers trade with substantial losses; Europen Mrkt advance

The domestic equity benchmarks traded with significant losses in afternoon trade. The Nifty traded below the 24,950 mark. Bank, private bank and FMCG shares declined, while media and metal shares advanced.

At 13:30 IST, the barometer index, the S&P BSE Sensex tanked 576.58 points or 0.70% to 81,686.89. The Nifty 50 index slipped 160.45 points or 0.64% to 24,949.50

In the broader market The S&P BSE Mid-Cap index shed 0.55% and the S&P BSE Small-Cap index declined 0.59%.

The market breadth was weak. On the BSE, 1,505 shares rose and 2,417 shares fell. A total of 175 shares were unchanged.

Gainers & Losers:

Wipro (up 2.23%), Oil & Natural Gas Corporation (up 1.17%), Tata Steel (up 1.12%), HCL Technologies (up 0.89%) and Coal India (up 0.45%) were the major Nifty50 gainers.

Axis Bank (down 4.60%), Shriram Finance (down 2.38%), Bharat Electronics (down 1.78%), Grasim Industries (down 1.68%) and HDFC Life Insurance Company (down 1.54%) were the major Nifty50 Losers.

Wipro advanced 2.23% after the IT major's consolidated net profit jumped 10.89% to Rs 3,330.4 crore on 0.77% rise in revenue from operations to Rs 22,135 crore in Q1 FY26 over Q1 FY25.

Axis Bank fell 4.60% after the bank reported a 3.79% drop in standalone net profit to Rs 5,806.14 crore on 6.91% increase in total income to Rs 38,321.57 crore in Q1 FY26 over Q1 FY25.

Stocks in Spotlight:

Jio Financial Services shed 0.42%. The company's consolidated net profit rose 3.83% to Rs 325 crore while total income jumped 48.09% to Rs 418 crore in Q1 June 2025 over Q1 June 2024.

Nuvoco Vistas Corporation advanced 2.16% after the company posted strong Q1 FY26 results. On a consolidated basis, net profit surged 4,589% year-on-year to Rs 133.16 crore in Q1 FY26. Revenue from operations grew 8.96% YoY to Rs 2,872.70 crore during the quarter.

Route Mobile fell 4.09% after the company's consolidated net profit declined 32.23% to Rs 53.21 crore on a 4.77% drop in revenue from operation to Rs 1,050.83 crore in Q1 FY26 over Q1 FY25.

Indian Hotels Company (IHCL) rose 0.79%. The company's consolidated net profit rose 19.31% to Rs 296.37 crore on 31.66% surge in revenue from operations to Rs 2,041.08 crore in Q1 FY26 over Q1 FY25.

Sterling and Wilson Renewable Energy (SWREL) dropped 4.10%. The company reported a consolidated net profit of Rs 31.97 crore in Q1 FY26, which is nearly eight times the PAT of Rs 4.19 crore posted in Q1 FY25. Revenue increased by 92.5% to Rs 1761.63 crore in the first quarter from Rs 915.06 crore recorded in the same period last year.

Sunteck Realty declined 1.50%. The company reported a 46.75% rise in net profit to Rs 33.43 crore, despite a 40.45% decrease in total revenue from operations to Rs 188.32 crore in Q1 FY26 compared to Q1 FY25.

Global Markets:

European Stocks opens higher on Friday, as investors focussed on corporate earnings for clues on the impact of U.S. tariff policies on businesses.

Most Asian shares were trading higher, taking cues from Wall Street's rally overnight. Investors cheered a batch of upbeat US economic reports and corporate earnings that comfortably beat expectations.

In Japan, inflation showed some signs of cooling. Core inflation for June eased to 3.3%, down from May's 29-month high of 3.7%, with rice prices showing signs of moderation. Headline inflation also slipped to 3.3%, from 3.5% the previous month. However, the core-core inflation gauge, closely tracked by the Bank of Japan, as it strips out both food and energy, edged up to 3.4%, hinting that underlying price pressures are still in play.

Over on Wall Street, the S&P 500 and Nasdaq closed at record highs on Thursday. Strong earnings and resilient consumer spending drove the rally. The Dow Jones rose 0.52%, while the S&P 500 climbed 0.54%, and the Nasdaq jumped 0.74%.

Investors also brushed off worries about new US trade tariffs set to kick in from August 1 under President Trump, focusing instead on growth and AI-fueled optimism.

Taiwanese chip giant TSMC stole the spotlight with stellar earnings and a bullish outlook on AI-related demand. Its US-listed shares surged 3.4%, igniting gains across the semiconductor and tech sectors.

Adding to the momentum, US retail sales rebounded strongly in June after two months of decline. Sales rose 0.6% month-on-month, reversing a 0.9% dip in May, thanks to increased auto purchases and a still-healthy consumer.

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