Stock market today: The BSE Sensex experienced volatile trading, falling 241.30 points or 0.31 per cent to close at 77,378.91. The index fluctuated 820.15 points during the day, reaching a high of 77,919.70 and a low of 77,099.55.
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Foreign investors have been selling Indian equities rapidly since the start of 2025, with outflows nearing Rs 1 lakh crore. This sharp shift follows US President Donald Trump's return to the White House, leading investors to favor the American economy.
Gas consumption in India grew by 11% annually in 2024, causing a rise in LNG imports to meet increasing demand. Sectors such as industry, oil refineries, residential, commercial, and transport saw significant growth. Heatwaves also increased gas use for power generation. This aligns with India's low-carbon economy goals but raises energy security concerns due to declining domestic production.
The Indian government is closely monitoring the US reciprocal tariffs, which are expected to impact exports and demand. Trade experts anticipate higher duties on Indian goods, including agricultural products, to be a strategic move by the US in bilateral talks. India plans to push forward with trade negotiations to counter the tariff impacts.
LG Electronics India, a subsidiary of LG, has received approval from Sebi for a Rs 15,000 crore initial public offering. This IPO will involve the parent company selling over 10.2 crore shares, representing a 15% stake. The funds raised will go to the South Korean parent company, as the IPO is an offer for sale.
Global oil prices surpassed $81 per barrel, the highest since August 2024, driven by fears of US shipping sanctions affecting Russian oil supplies. This surge is likely to prevent fuel price cuts in India, eliminating the increase in retailers' profits and causing stock declines for major fuel retailers IndianOil, Hindustan Petroleum, and Bharat Petroleum.
The US is seeing a surge in visitors from India, doubling by 2029 and positioning India as the fourth largest inbound travel market. Despite this growth, long visa wait times and limited direct flights due to restricted airspace usage hinder its full potential.
NACDAC Infrastructure's Rs 10 crore IPO received a record-breaking Rs 14,386 crore in bids, achieving a 1,976 times oversubscription. Retail investors and high-net-worth individuals showed particularly strong interest. The Ghaziabad-based construction company secured funding from two anchor investors ahead of the IPO, aiming to utilize the proceeds for working capital and general corporate purposes.
US industrial production fared much better than expected last month, the Federal Reserve said Friday, rising sharply as aircraft manufacturing rebounded after the end of a strike at Boeing. The Fed noted that "the resolution of a work stoppage at a major aircraft manufacturer" helped propel gains in the output of aircraft and parts, a reference to a recent strike at US aviation giant Boeing.
Technology stocks surged following a temporary pause in tariffs on phones, computers, and consumer electronics, announced by the Trump administration. Apple shares notably climbed, and Asian tech stocks experienced a boost. Despite the positive market reaction, officials cautioned that tech tariffs are still anticipated in the near future, creating uncertainty about ongoing trade negotiations with China.
Commerce and industry minister Piyush Goyal states that India's free trade agreements are now finalized after extensive consultations with all stakeholders, offering equitable terms. Highlighting the EFTA pact with a $100 billion FDI commitment, he contrasts current deals with past practices, emphasizing national interests and growth in exports.