Author: Sreelatha M

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Corporate

Sensex soars 890 points, Nifty reclaims 24,250 mark

Indian equity markets witnessed a powerful rebound on Wednesday, with benchmark indices posting their strongest gains in weeks as investors lapped up banking, information technology and automobile stocks amid improving domestic and global sentiment. The BSE Sensex jumped 888.91 points, or 1.16 per cent, to settle at 77,654.60, while the NSE Nifty50 advanced 264.60 points, or 1.10 per cent, to close at 24,250.20, reclaiming the crucial 24,250 level.

The rally added nearly ₹4 lakh crore to the market capitalisation of BSE-listed companies, offering a significant boost to investor wealth after a series of volatile trading sessions. The strong finish reflected growing confidence in India’s economic outlook, backed by healthy corporate earnings and positive global cues.

Markets opened firmly and extended gains through the day as buying intensified across heavyweight sectors. The Sensex crossed the 1,000-point mark during intra-day trading before trimming some gains in the final hour due to mild profit-booking. Despite the late pullback, the benchmarks ended comfortably higher, signalling that bullish sentiment has returned to Dalal Street.

Information technology stocks emerged as the biggest drivers of the rally after several companies reported encouraging quarterly earnings. Investors interpreted the earnings as a sign that demand for technology services remains resilient despite global economic uncertainties. Banking and financial stocks also witnessed strong buying as expectations of healthy credit growth and stable asset quality continued to support the sector.

HCLTech was the top performer among Sensex constituents, climbing more than 5 per cent after posting stronger-than-expected quarterly results. Tech Mahindra and Infosys also recorded impressive gains as investors increased exposure to frontline IT stocks. Among banking counters, Axis Bank advanced sharply, while Mahindra & Mahindra gained on optimism surrounding robust vehicle demand and healthy sales prospects.

The broader rally extended beyond large-cap stocks, with buying visible across financial services, automobiles, capital goods and consumer discretionary shares. Analysts said the widespread participation across sectors indicated that the market’s recovery was based on improving investor confidence rather than short covering alone.

While most frontline stocks ended in positive territory, a few defensive counters bucked the trend. Nestlé India and Asian Paints were among the biggest losers on the Sensex as investors booked profits in consumer-focused stocks. Sun Pharma also ended lower, reflecting selective selling in pharmaceutical counters despite the overall market strength.

According to market experts, the rally was fuelled by a combination of domestic resilience and supportive global developments. Strong quarterly earnings from several blue-chip companies reassured investors that corporate profitability remains intact despite global headwinds. Positive cues from international markets, expectations of stable monetary policy and hopes of continued foreign institutional investor (FII) participation further strengthened sentiment.

Investors also drew confidence from recent macroeconomic data, which continues to point towards robust growth in the Indian economy. Stable inflation, resilient domestic consumption and sustained infrastructure spending have reinforced expectations that India will remain one of the world’s fastest-growing major economies. These factors have encouraged both institutional and retail investors to increase exposure to equities.

Global developments also played a role in lifting market sentiment. Although crude oil prices remain elevated amid geopolitical tensions in West Asia, investors largely chose to focus on corporate fundamentals rather than external risks. Positive trends in overseas equity markets further supported buying in Indian shares.

Analysts noted that foreign investor activity will remain a key factor for market direction in the coming weeks. Sustained FII inflows could provide additional momentum to the rally, while domestic institutional investors continue to offer stability during periods of global uncertainty. Strong participation from domestic mutual funds has also helped cushion the market against external shocks in recent months.

For retail investors, Wednesday’s rally came as a welcome relief after several sessions of uncertainty. Many investors had remained cautious due to geopolitical tensions, fluctuating crude oil prices and mixed global signals. The sharp recovery demonstrated that positive earnings and strong domestic fundamentals continue to outweigh near-term concerns.

Market participants are now closely watching the remaining corporate earnings announcements for further direction. Results from major companies across banking, financial services, manufacturing and consumer sectors are expected to influence sentiment in the coming days. Investors will also monitor global economic data, movements in crude oil prices and policy signals from major central banks.

Despite Wednesday’s strong gains, analysts advised investors to remain selective and avoid chasing stocks purely on momentum. They believe companies with strong balance sheets, consistent earnings growth and reasonable valuations are likely to outperform over the medium term. Short-term volatility may persist as global geopolitical developments and foreign fund flows continue to influence investor behaviour.

Wednesday’s rally underlined the resilience of the Indian stock market at a time when several global economies continue to grapple with uncertainty. With banking and IT stocks leading from the front and buying interest spreading across sectors, Dalal Street delivered a strong vote of confidence in the country’s growth story.

As the earnings season gathers pace, investors will look for further confirmation that corporate India can sustain its growth momentum. For now, the nearly 900-point jump in the Sensex and the Nifty’s close above 24,250 have restored optimism, signalling that market participants remain confident about the long-term prospects of the Indian economy despite global headwinds.

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Technology

Apple introduces flexible device leasing

Apple has introduced a new way for customers to own its premium devices without paying the full price upfront. The tech giant has launched Apple Upgrade, a subscription-style leasing programme in the United States that allows customers to use the latest iPhone, iPad, Mac and Apple Watch by paying a fixed monthly fee.

The new programme reflects Apple’s growing focus on making its premium products more affordable while encouraging users to upgrade to newer devices more frequently. Rather than purchasing a device outright, customers can lease it for a specified period and later choose whether to return it, buy it, or upgrade to the latest model.

The service replaces Apple’s earlier iPhone-only financing programme with a broader offering that includes several of the company’s most popular devices. Apple Upgrade is available through Apple Stores, the Apple Store app and Apple’s official website across the United States.

The programme has been introduced in partnership with global payments and financial services company Klarna, which will handle financing approvals. Apple said customers can complete the application process online with a soft credit check, meaning it does not affect their credit score.

The lease duration varies depending on the product. Customers can lease iPhones and Apple Watches for 12 or 24 months, while iPads and Mac computers are available on 24- or 36-month plans. Monthly payments begin at $17.99 for an iPhone, $11.99 for an iPad or Apple Watch, and $24.99 for a Mac, making Apple’s premium hardware more accessible through smaller recurring payments.

At the end of the lease period, customers have three options. They can return the device without any further commitment, purchase it by paying its remaining value, or switch to a newer Apple device by starting a fresh lease. This flexible model gives users greater freedom to stay updated with Apple’s latest products without making a significant upfront investment.

Apple says customers can also trade in eligible older devices to reduce their monthly payments. Those using the Apple Card will continue to receive three per cent Daily Cash rewards on their monthly lease payments, adding another benefit for existing Apple users.

The launch marks a significant shift in Apple’s retail strategy. While the company has long offered instalment-based payment plans, Apple Upgrade introduces a leasing model similar to those commonly used for cars and other high-value products. Instead of focusing solely on ownership, the programme is designed around continuous access to the latest technology.

Industry experts believe the move could strengthen Apple’s upgrade cycle at a time when consumers are holding on to smartphones and laptops for longer than before. With device prices steadily increasing, many buyers have delayed replacing their gadgets. By lowering the initial financial burden, Apple hopes to encourage customers to upgrade more regularly and remain within its ecosystem.

The programme could also benefit Apple’s growing refurbished device business. Returned products from lease agreements can be refurbished and resold, extending the life of devices while supporting the company’s sustainability goals. Apple has increasingly highlighted its efforts to reduce electronic waste and promote a circular economy by reusing and recycling products wherever possible.

Existing members of Apple’s iPhone Upgrade Program will be able to transition to the new Apple Upgrade service. At the same time, Apple has discontinued its previous iPhone Payments financing option, making Apple Upgrade its primary hardware financing and leasing programme in the US market.

For customers, the biggest attraction is affordability. Premium Apple products often come with high price tags, making them difficult for many buyers to purchase outright. Monthly subscription payments spread the cost over a longer period, allowing users to access the latest technology without making a large one-time payment.

However, financial experts advise customers to understand the terms carefully before signing up. Leasing differs from buying a product through instalments because ownership is not automatic. Customers who decide to keep the device at the end of the lease will need to pay its remaining value, while those returning it may be charged if the product has damage beyond normal wear and tear.

The launch comes as competition in the premium technology market intensifies. Smartphone makers are increasingly exploring subscription and financing models to attract customers facing rising living costs and longer replacement cycles. Apple’s move is expected to put pressure on rivals to expand similar offerings for their own products.

Although Apple Upgrade is currently available only in the United States, industry observers believe the company could eventually expand the programme to other markets if customer response is positive.

With Apple Upgrade, the company is moving beyond simply selling devices and towards offering technology as an ongoing service. For consumers, it provides greater flexibility, predictable monthly costs and easier access to Apple’s latest innovations, while helping the company build stronger long-term relationships with its customers.

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1 Minute-Read

Centre clears polymer ₹10, ₹20 notes rollout

The Centre has authorised the Reserve Bank of India (RBI) to issue up to two billion polymer banknotes in the ₹10 and ₹20 denominations, paving the way for a pilot rollout of more durable currency.

The approval allows the RBI to issue one billion notes of each denomination. Unlike paper notes, polymer banknotes are made from flexible plastic, making them more resistant to wear, moisture and dirt while improving security features.

Existing paper notes will continue as legal tender, with polymer notes introduced gradually to reduce replacement costs and improve the lifespan of India’s most frequently used currency. For more quick updates on policy and economic developments, explore our 1-Minute Read section.

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Beyond

RBI cleared to issue polymer ₹10, ₹20 notes

The Centre has approved the Reserve Bank of India (RBI) to issue up to two billion polymer banknotes in the ₹10 and ₹20 denominations, marking a significant step in the country’s efforts to modernise currency and improve the durability of frequently used notes. The move is expected to reduce the cost of replacing worn-out notes while making everyday cash transactions more efficient.

According to a government notification, the RBI has been authorised to issue one billion ₹10 polymer notes and one billion ₹20 polymer notes under the provisions of the RBI Act. The approval clears the way for the central bank to introduce polymer currency on a pilot scale before considering wider adoption in the future.

Unlike traditional paper currency, polymer banknotes are made from a thin, flexible plastic film. They are more resistant to moisture, dirt and tearing, allowing them to remain in circulation much longer than conventional paper notes. This makes them particularly suitable for lower-denomination currency, which changes hands frequently and tends to wear out quickly.

Officials believe the new polymer banknotes will help reduce the recurring cost of printing replacement notes. Since ₹10 and ₹20 notes are among the most commonly used denominations in India, extending their lifespan could result in significant savings over time while improving the quality of currency in circulation.

The decision does not mean India is replacing all paper currency with plastic notes. Instead, the government and the RBI are adopting a gradual approach by introducing polymer notes only in selected denominations. Existing paper notes will continue to remain legal tender and circulate alongside the new polymer currency.

The RBI has been studying the use of polymer notes for several years. Many countries, including Australia, Canada, the United Kingdom, New Zealand and Singapore, have already switched to polymer currency for most or all of their banknotes. Their experience has shown that polymer notes generally last much longer, remain cleaner and offer better protection against counterfeiting.

Another key advantage of polymer banknotes is enhanced security. The material allows advanced security features such as transparent windows, complex holograms and improved printing techniques that are difficult to replicate. These features make counterfeit currency harder to produce and easier for the public to identify.

The notes are also expected to be more hygienic. Because polymer surfaces absorb less moisture and dirt than paper, they remain cleaner even after prolonged use. This is especially relevant in a country where currency notes pass through millions of hands every day.

The RBI is expected to finalise the design and production process before the new notes enter circulation. While the appearance may be similar to the existing ₹10 and ₹20 notes, the polymer versions are likely to incorporate updated security features and improved durability. The central bank has not yet announced a launch date.

Experts say introducing polymer currency is a practical step rather than a dramatic overhaul of India’s monetary system. By focusing first on low-value denominations, the RBI can assess how the notes perform under Indian climatic conditions, including high temperatures, humidity and heavy daily usage.

The move also aligns with India’s broader efforts to modernise its currency management system. Even though digital payments have grown rapidly in recent years, cash continues to play an important role in the economy, particularly in rural areas and small retail transactions. Ensuring that physical currency remains durable and secure is therefore still a priority.

Industry observers believe polymer notes could also reduce the environmental impact associated with frequent reprinting and disposal of damaged paper currency. Although polymer notes require specialised manufacturing, their longer lifespan means fewer notes need to be produced over time, potentially lowering overall resource consumption.

The approval comes as the RBI continues to strengthen currency security and improve cash management across the country. Alongside technological upgrades in banknote printing and counterfeit detection, the introduction of polymer notes reflects a long-term strategy to make India’s currency more resilient and cost-effective.

For the public, the transition is expected to be seamless. The new polymer ₹10 and ₹20 notes will be used just like existing banknotes and will remain interchangeable with paper currency. There will be no need to exchange existing notes, and all valid paper notes will continue to be accepted for transactions.

As the RBI prepares for the rollout, the initiative is being viewed as an important milestone in India’s currency evolution. If the pilot proves successful, polymer banknotes could gradually become a familiar part of everyday life, offering longer-lasting, cleaner and more secure currency while helping reduce the cost of managing cash across the country.

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Beyond

Tata Power chooses Odisha for solar plant

Tata Power has chosen Odisha over Andhra Pradesh for setting up one of India’s largest integrated solar manufacturing facilities, marking a major boost for the state’s clean energy ambitions. The company will invest around ₹25,000 crore to establish a 10 GW solar ingot and wafer manufacturing plant, a project expected to strengthen India’s domestic solar supply chain and reduce dependence on imports.

Construction of the ambitious project is expected to begin in October 2026, with commercial production likely to commence in phases over the next few years. The investment is being seen as a significant milestone in India’s push to become self-reliant in solar manufacturing while supporting its renewable energy targets.

The upcoming facility will manufacture solar ingots and wafers, two of the most critical components used in producing solar cells and photovoltaic (PV) modules. At present, India imports a large share of these components, particularly from China. The new plant is expected to help bridge this gap by creating a robust domestic manufacturing ecosystem.

According to Tata Power, Odisha emerged as the preferred location after an extensive evaluation of multiple states, including Andhra Pradesh. Factors such as land availability, infrastructure, logistics, government support and access to industrial resources played an important role in the final decision.

The integrated facility will have an annual production capacity of 10 gigawatts (GW), making it one of the largest investments in India’s renewable energy manufacturing sector. By producing ingots and wafers within the country, Tata Power aims to support India’s growing solar industry while ensuring greater supply chain resilience.

The project is expected to generate thousands of direct and indirect employment opportunities during both the construction and operational phases. Local businesses, transport providers, engineering firms and ancillary industries are also likely to benefit as the manufacturing ecosystem develops around the plant.

For Odisha, securing the Tata Power investment represents another major achievement in attracting large-scale industrial projects. The state has been actively positioning itself as a destination for investments in green energy, advanced manufacturing and clean technologies. Officials believe the project will further strengthen Odisha’s reputation as an emerging renewable energy hub.

The investment also aligns with the Central government’s vision of building a self-reliant clean energy ecosystem under initiatives such as ‘Make in India’ and the Production Linked Incentive (PLI) scheme. By expanding domestic manufacturing capacity, India hopes to reduce import dependence, improve energy security and create globally competitive manufacturing capabilities.

Demand for solar equipment is expected to rise sharply as India works towards achieving its ambitious renewable energy goals. The country has committed to rapidly expanding solar power generation over the coming decades to meet growing electricity demand while reducing carbon emissions. Domestic manufacturing of critical components will play an essential role in supporting this transition.

Industry experts believe projects like Tata Power’s integrated solar manufacturing facility will help India become a stronger player in the global renewable energy supply chain. Manufacturing ingots and wafers locally can lower production costs, improve availability of raw materials and encourage further investment across the solar value chain.

The project also reflects a broader trend among Indian companies to invest in upstream solar manufacturing rather than relying solely on imported components. Developing capabilities across the entire solar value chain—from ingots and wafers to cells and modules—is considered crucial for long-term competitiveness and energy independence.

Apart from strengthening manufacturing, the facility is expected to encourage research, innovation and skill development in advanced solar technologies. As production scales up, specialised jobs in engineering, automation, quality control and renewable energy manufacturing are likely to increase, creating new opportunities for the local workforce.

For Tata Power, the investment reinforces its long-term commitment to India’s clean energy transition. The company has been expanding its presence across renewable power generation, solar rooftop solutions, electric vehicle charging infrastructure and green energy technologies. The new manufacturing facility adds another important dimension to its renewable energy portfolio.

The decision to locate the project in Odisha also highlights the increasing competition among states to attract investments in future-ready industries. While Andhra Pradesh was also under consideration, Odisha‘s industrial ecosystem and policy support ultimately tipped the balance in its favour.

As construction begins later this year, the project is expected to become a cornerstone of India’s solar manufacturing ambitions. Beyond producing critical solar components, the facility will help create jobs, strengthen domestic supply chains and support the country’s goal of building a globally competitive renewable energy sector. With one of the largest solar wafer and ingot plants on the horizon, Tata Power’s investment signals growing confidence in India’s clean energy future.

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Beyond

Johnson & Johnson settles talc lawsuits for $5.5 bn

Johnson & Johnson has announced a $5.5 billion settlement to resolve tens of thousands of lawsuits claiming its talc-based baby powder and other talc products caused ovarian cancer. The agreement, one of the largest product liability settlements in US history, aims to end years of legal uncertainty while offering compensation to thousands of women and families who alleged they developed cancer after long-term use of the company’s products.

The proposed settlement covers approximately 76,000 ovarian cancer lawsuits filed against the healthcare giant across the United States. However, the agreement will become effective only if at least 95% of eligible claimants agree to its terms. If that threshold is reached, payments are expected to begin next year and continue over several years.

For many families, the announcement represents the possibility of finally closing a painful chapter. Numerous women claimed they had regularly used Johnson’s Baby Powder and other talc-based products for personal hygiene over several decades, believing them to be safe. After being diagnosed with ovarian cancer, many turned to the courts, alleging the products were responsible for their illness.

Johnson & Johnson has continued to reject those allegations. The company said it agreed to the settlement to avoid prolonged litigation rather than because of any admission of wrongdoing. It maintained that extensive scientific research and independent testing support the safety of its talc products and that they do not cause cancer.

The legal battle over talc products has stretched for more than a decade, becoming one of the most closely followed corporate lawsuits in recent years. Plaintiffs argued that some talc products contained asbestos, a substance known to cause cancer, and that long-term exposure increased the risk of ovarian cancer. Johnson & Johnson has consistently denied that its consumer talc products ever contained asbestos or posed a health risk.

The settlement follows several failed attempts by the company to resolve the lawsuits through bankruptcy proceedings. Those efforts were rejected by US courts, which ruled that the legal strategy could not be used to settle the claims. After those setbacks, the company entered direct negotiations with lawyers representing thousands of claimants, leading to the current agreement.

Although the settlement focuses on ovarian cancer cases, it does not resolve every lawsuit linked to talc products. Some claims involving mesothelioma and other asbestos-related illnesses have been handled separately, while a limited number of cases may continue through the courts.

Johnson & Johnson stopped selling its talc-based baby powder in the United States and Canada in 2020 after demand declined and legal scrutiny increased. In 2023, the company replaced the product worldwide with a cornstarch-based version, saying the change reflected evolving consumer preferences and market trends rather than safety concerns.

Legal experts say the settlement could mark a turning point in one of the largest mass tort cases involving consumer healthcare products. If approved by the required number of claimants, it would significantly reduce the company’s legal exposure and bring certainty to thousands of pending cases.

Law firms representing many of the plaintiffs welcomed the proposed deal, saying it could provide long-awaited financial support to women and families who have spent years pursuing legal action. Several lawyers described the agreement as an important step towards resolving litigation that has caused emotional and financial strain for thousands of people.

The settlement also carries significant business implications for Johnson & Johnson. The healthcare company has spent years dealing with mounting legal costs, courtroom battles and uncertainty surrounding the talc litigation. Resolving the majority of the claims would allow the company to focus more fully on its pharmaceutical and medical technology businesses, which continue to drive its global growth.

Industry analysts believe investors are likely to view the settlement positively because it reduces one of the biggest legal risks facing the company. However, they also note that the agreement still depends on overwhelming support from claimants before it can be implemented.

Consumer safety advocates say the case has had a lasting impact beyond the courtroom. The lawsuits prompted greater public awareness about product safety, ingredient transparency and corporate accountability. The litigation also encouraged manufacturers across the consumer healthcare industry to review product formulations and strengthen safety testing.

For the women and families involved, however, the case has always been about more than legal arguments or corporate finances. Many plaintiffs say they spent years seeking recognition of their experiences and accountability from one of the world’s largest healthcare companies.

If the settlement receives the necessary approval, it could finally bring closure to thousands of families while ending one of the most significant product liability disputes in modern corporate history. Even as Johnson & Johnson continues to deny that its talc-based products caused cancer, the proposed $5.5 billion talc settlement marks a landmark moment in the long-running Johnson & Johnson baby powder litigation, bringing the company closer to resolving a controversy that has shaped consumer product safety debates for years.

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Beyond

Gold slips to ₹1,42,940, silver at ₹2,18,920

Gold and silver prices traded lower in India on Tuesday, July 28, with weakness seen across both the domestic futures market and retail bullion prices. On the Multi Commodity Exchange (MCX), gold futures slipped to ₹1,42,940 per 10 grams, while silver futures declined to ₹2,18,920 per kg during early trade. The softer trend was reflected in the retail bullion market as well, where 24-carat and 22-carat gold prices edged lower across major cities amid cautious investor sentiment ahead of the US Federal Reserve’s policy meeting.

The decline in MCX gold prices came despite gains in international bullion markets, underscoring the impact of domestic factors such as profit booking, rupee movements and futures-market positioning. Traders remained cautious as global investors awaited fresh cues on interest rates and inflation.

According to the latest retail bullion rates, 24-carat gold in Delhi was priced at ₹1,42,410 per 10 grams, while 22-carat gold stood at ₹1,30,543 per 10 grams. The silver price in the national capital was ₹2,17,830 per kg.

In Mumbai, 24-carat gold was selling at ₹1,42,660 per 10 grams, while 22-carat gold was available at ₹1,30,772 per 10 grams. The city’s silver rate stood at ₹2,18,210 per kg.

In Chennai, 24-carat gold was quoted at ₹1,43,080 per 10 grams, among the highest in the country, while 22-carat gold was priced at ₹1,30,964 per 10 grams. Silver was available at ₹2,18,870 per kg.

In Hyderabad, 24-carat gold traded at ₹1,42,870 per 10 grams, while 22-carat gold stood at ₹1,30,964 per 10 grams. The silver rate was ₹2,18,730 per kg.

In Bengaluru, 24-carat gold was priced at ₹1,42,750 per 10 grams, while 22-carat gold was quoted at ₹1,30,854 per 10 grams. Silver was trading at ₹2,18,560 per kg.

In Kolkata, the 24-carat gold rate stood at ₹1,42,450 per 10 grams, while 22-carat gold was available at ₹1,30,579 per 10 grams. Silver was quoted at ₹2,18,100 per kg.

The variation in gold prices across Indian cities is primarily due to transportation costs, local taxes, logistics, dealer margins and regional demand. The final price paid by consumers may also differ because of making charges and GST levied by jewellers.

Globally, spot gold prices edged higher as investors sought the safety of precious metals despite easing tensions in the Middle East. A weaker US dollar also supported international bullion prices by making gold more attractive for overseas buyers.

International spot gold was trading near $4,087.59 per ounce, while US gold futures hovered around $4,090 per ounce. Market participants also tracked the decline in crude oil prices after geopolitical tensions eased, reducing inflation concerns but keeping demand for safe-haven assets intact.

The spotlight is now on the US Federal Reserve’s monetary policy decision, with markets widely expecting interest rates to remain unchanged. Investors are awaiting guidance from the central bank on the future interest-rate trajectory, which is likely to influence global bullion prices and investment flows into precious metals.

Silver also remained under pressure in domestic trade. Apart from investment demand, the metal is heavily influenced by industrial consumption, particularly from the electronics, renewable energy and automobile sectors. Any shift in global manufacturing activity or economic outlook can therefore have a greater impact on silver prices than on gold.

Market analysts said bullion prices are likely to remain volatile in the near term as investors react to the US Federal Reserve’s policy outcome, movements in the US dollar, crude oil prices and geopolitical developments. Domestic bullion prices will also be influenced by the rupee’s movement against the dollar and trends in the futures market.

For now, jewellers and investors are expected to closely monitor global cues before taking fresh positions. While the recent decline offers some relief to buyers, analysts believe the overall trend in the Indian bullion market will continue to depend on international gold prices, central bank signals and global economic developments over the coming sessions.

Categories
Corporate

Sensex up 100 points, Nifty holds above 24,000

Indian benchmark equity indices extended their recovery for a second consecutive session on Tuesday, supported by easing crude oil prices, encouraging corporate earnings and positive global cues. The BSE Sensex gained over 100 points in early trade, while the NSE Nifty 50 held firmly above the crucial 24,000 mark, as buying in IT and banking stocks outweighed losses in select FMCG and defence counters.

The upbeat opening followed Monday’s sharp rally, when the benchmark indices snapped a five-day losing streak amid improving global sentiment and renewed buying by investors.

Technology stocks emerged as the biggest drivers of Tuesday’s rally. Tata Consultancy Services (TCS), Infosys, Tech Mahindra, HDFC Bank and Tata Power were among the top gainers on the Sensex, supported by positive earnings expectations and optimism over the sector’s medium-term growth prospects. Investors continued to favour large-cap stocks with strong fundamentals as the June-quarter earnings season gathered pace.

In contrast, Hindustan Unilever Ltd (HUL), Bharat Electronics Ltd (BEL), Coal India, Asian Paints and a few consumer-focused stocks traded in the red. HUL remained under pressure after reporting weaker-than-expected quarterly earnings, while BEL and Coal India witnessed profit booking following their recent gains and cautious investor sentiment around their earnings outlook.

Market participants said easing geopolitical tensions in the Middle East and the decline in global crude oil prices have significantly improved investor confidence. India, which imports nearly 85 per cent of its crude oil requirement, stands to benefit from lower oil prices as they help reduce inflation, ease pressure on the country’s import bill and improve corporate profitability.

The moderation in crude prices has also eased concerns over inflationary pressures, giving investors confidence that domestic economic growth and corporate earnings could remain resilient despite uncertainties in the global economy.

Monday’s rally had already signalled a shift in market sentiment. The Sensex surged nearly 776 points, while the Nifty gained more than 228 points, adding over ₹5 lakh crore to the market capitalisation of BSE-listed companies. Tuesday’s gains indicated that investors were willing to build on that momentum, although buying remained selective.

The ongoing corporate earnings season continued to dictate stock-specific movements. Companies delivering better-than-expected financial performance attracted strong investor interest, while those reporting weaker earnings or cautious future guidance faced selling pressure.

Information technology stocks remained in focus after analysts highlighted the sector’s relatively stable demand outlook. Expectations that Indian IT companies would continue benefiting from global digital transformation initiatives encouraged fresh buying despite uncertainty surrounding international economic growth.

Banking stocks also supported the benchmark indices, with investors expecting healthy credit growth, stable asset quality and improving profitability to continue driving the sector’s performance over the coming quarters.

Meanwhile, the broader market showed mixed trends. While several large-cap stocks traded higher, mid-cap and small-cap indices witnessed limited movement as investors preferred fundamentally strong companies over riskier bets. Analysts said elevated valuations in certain segments of the broader market have made investors increasingly selective.

Global cues also remained supportive. International markets found relief after crude oil prices softened amid signs of easing geopolitical tensions. However, investors continued to remain cautious ahead of key global events, particularly the US Federal Reserve’s monetary policy meeting scheduled later this week.

Although the US central bank is widely expected to keep interest rates unchanged, investors will closely monitor its policy commentary for clues on future rate cuts and the outlook for inflation. Any indication of a prolonged higher-interest-rate environment could influence foreign investment flows into emerging markets, including India.

Foreign Institutional Investors (FIIs) continue to play a significant role in determining short-term market direction. Their investment decisions remain closely linked to global interest rates, oil prices, geopolitical developments and currency movements. At the same time, consistent buying by Domestic Institutional Investors (DIIs) has helped cushion the market from sharp declines during recent bouts of foreign selling.

Analysts believe the Nifty’s ability to hold above the psychologically important 24,000 level is encouraging for market sentiment. Sustaining above this level could trigger further buying interest, although volatility is expected to remain high due to global macroeconomic uncertainties and the ongoing earnings season.

For retail investors, the market’s turnaround over the past two sessions highlights how quickly sentiment can change. Just days ago, concerns over rising crude oil prices and geopolitical tensions had triggered heavy selling across Dalal Street. The recent decline in oil prices, coupled with encouraging corporate earnings and improving global cues, has helped restore confidence among investors.

However, market experts continue to advise caution. They recommend focusing on quality businesses with strong earnings visibility rather than chasing short-term market rallies. With several major companies yet to announce their June-quarter results, stock-specific volatility is likely to remain elevated in the coming days.

Market participants will now closely track the US Federal Reserve’s policy decision, ongoing June-quarter corporate earnings, foreign institutional investor (FII) activity and movements in global crude oil prices for fresh direction. Analysts believe sustained lower oil prices, steady domestic institutional inflows and robust corporate earnings could help the Indian stock market extend its recovery. However, any adverse geopolitical developments or unexpected global policy announcements could keep the Sensex and Nifty volatile in the near term, making investors remain selective even as the broader outlook continues to improve.

Categories
Corporate

Sensex ends 700 points higher, Nifty closes near 24,000

Indian equity benchmarks bounced back sharply on Monday, snapping a five-session losing streak, as easing geopolitical tensions in the Middle East, a steep fall in crude oil prices and strong quarterly earnings fuelled a broad-based rally across Dalal Street.

The BSE Sensex surged 776.43 points, or 1.02%, to settle at 76,835.78, while the Nifty 50 climbed 227.90 points, or 0.96%, to close at 23,995.35, ending just below the key 24,000 mark. The recovery came after benchmark indices had witnessed sustained selling over the past week amid global uncertainty and profit booking.

Market participants said the rally was largely driven by improving global cues after the United States and Iran paused military action, easing concerns over disruptions to global crude oil supplies. The development triggered a sharp decline in Brent crude prices, providing significant relief to oil-importing economies such as India.

Lower crude oil prices are considered positive for the Indian economy as they help reduce inflationary pressures, narrow the current account deficit and lower input costs for several industries. The decline in oil prices also boosted hopes that corporate profit margins could improve in the coming quarters.

Positive global sentiment coincided with encouraging domestic earnings, prompting investors to return to equities. Buying was visible across sectors throughout the trading session, helping benchmark indices recover most of last week’s losses.

All major sectoral indices ended in positive territory, led by information technology, financial services, banking, consumer stocks and oil-linked sectors. Broader markets also mirrored the positive trend, with both mid-cap and small-cap indices closing over one per cent higher, indicating widespread participation in the rally.

Among the day’s top gainers were Infosys, Eternal, IDFC First Bank, AU Small Finance Bank, Asian Paints, CEAT and Kansai Nerolac.

Infosys emerged as one of the biggest contributors to the rally after attracting strong buying interest following favourable brokerage views and optimism surrounding technology spending. Shares of paint manufacturers and tyre companies also advanced as lower crude oil prices are expected to reduce raw material costs, improving margins.

Financial stocks also witnessed renewed buying as investors remained optimistic about steady credit growth and resilient demand despite global headwinds.

Despite the overall strength in the market, a few heavyweight stocks closed lower. HDFC Bank, Trent and Bharat Electronics Ltd (BEL) featured among the top losers on the benchmark indices. Analysts attributed the decline to stock-specific factors and profit booking rather than weakness in the broader market.

HDFC Bank continued to remain under investor scrutiny following recent governance-related developments. Although the stock underperformed during the session, analysts said the broader banking sector remained well supported by improving market sentiment and expectations of healthy loan growth.

Market experts said easing geopolitical tensions played a significant role in restoring investor confidence after heightened volatility over the past week. Concerns over rising oil prices had weighed heavily on global markets, but the latest developments eased fears of supply disruptions, encouraging investors to increase exposure to risk assets.

The ongoing first-quarter earnings season also remained a key driver for the market. Several companies have reported better-than-expected financial results, reinforcing confidence in India’s corporate earnings outlook despite an uncertain global environment.

Analysts noted that healthy earnings growth, coupled with improving macroeconomic indicators, continues to support the long-term investment case for Indian equities. Strong domestic demand, government infrastructure spending and resilient economic activity have also contributed to positive investor sentiment.

Foreign institutional investors (FIIs) showed signs of returning to Indian equities after recent selling, while domestic institutional investors continued to provide steady support. The combined buying by institutional investors helped sustain the rally throughout the day.

Market participants believe the sharp fall in crude oil prices could particularly benefit sectors such as aviation, logistics, paints, chemicals, tyres and consumer goods, where fuel and petroleum derivatives account for a significant share of operating expenses. Lower input costs are expected to improve profitability if crude prices remain stable in the coming months.

Going forward, investors will closely monitor the remaining quarterly earnings announcements, movement in global crude oil prices, foreign fund flows and developments in the Middle East. Global central bank decisions, particularly signals from the US Federal Reserve, are also expected to influence market direction.

Analysts believe volatility could persist in the near term as investors react to global developments. However, India’s strong economic fundamentals, healthy corporate earnings and improving investor confidence are expected to provide support to the market.

Monday’s equity market rally has offered much-needed relief to investors after several sessions of losses. With benchmark indices reclaiming important levels and buying emerging across sectors, Dalal Street has regained positive momentum.

If crude oil prices remain subdued and corporate earnings continue to exceed expectations, analysts expect the Sensex, Nifty, Indian stock market, Dalal Street, stock market today, Q1 earnings, oil prices and FII flows to remain key themes driving investor sentiment in the sessions ahead.

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Piaggio eyes mass scooter push with India-made range

Italian two-wheeler manufacturer Piaggio is preparing to make its biggest move yet in the Indian scooter market. Known for its premium Vespa and Aprilia scooters, the company is now working on an entirely new range of affordable commuter scooters that will be designed, developed and manufactured in India. The new lineup is expected to be launched in the first half of 2027, marking Piaggio’s entry into one of the country’s most competitive and high-volume two-wheeler segments.

The upcoming scooters are aimed at everyday riders who prioritise practicality, fuel efficiency and affordability. This is a significant shift for Piaggio, whose current India portfolio largely caters to premium customers. By entering the commuter segment, the company hopes to increase its market share and tap into millions of potential buyers.

Unlike its existing scooters, the new products are being built on a completely fresh platform created specifically for Indian conditions. The company says this platform will not be limited to a single model but will support an entire family of scooters. Multiple variants with different features and specifications are expected, allowing Piaggio to target a wide range of customers across price points.

Piaggio Vehicles Chairman and Managing Director Diego Graffi said the project is progressing as planned and will result in a new range of scooters developed for India. Instead of extending the Vespa or Aprilia brands into the commuter category, the company will introduce a completely new brand dedicated to this segment. This will allow Piaggio to clearly separate its premium offerings from its mass-market products.

The decision reflects Piaggio’s long-term strategy for India. Vespa will continue to represent stylish, premium scooters inspired by Italian heritage, while Aprilia will remain focused on sporty and performance-oriented models. The new commuter brand, meanwhile, will concentrate on practical mobility solutions for daily use.

India is one of the world’s largest scooter markets, with annual sales touching nearly six million units. The segment continues to be dominated by established players such as the Honda Activa, TVS Jupiter, Suzuki Access and Hero Xoom. These models have earned consumer trust through reliability, low maintenance costs and fuel efficiency. Piaggio believes there is still room for another strong contender, provided it offers the right combination of quality, pricing and features.

For years, Piaggio has maintained only a niche presence in India because its scooters have largely been positioned in the premium category. While Vespa enjoys a loyal customer base, sales volumes remain relatively small compared with mainstream commuter scooters. The upcoming India-focused range is expected to change that by helping the company compete in the country’s largest two-wheeler segment.

The scooters will be manufactured at Piaggio’s Baramati facility in Maharashtra, which already produces Vespa and Aprilia models for both domestic and export markets. Local production will allow the company to increase localisation levels, reduce manufacturing costs and remain competitive on pricing. It also supports the government’s push for greater domestic manufacturing under the ‘Make in India’ initiative.

Although Piaggio has not disclosed technical details, the new architecture is expected to be modular and flexible. This means it can support multiple scooter models and potentially different powertrain options in the future, depending on market demand and regulatory requirements. Such flexibility will also enable the company to introduce updated versions and new variants without developing an entirely new platform every time.

The company has remained tight-lipped about engine specifications, design, pricing and feature lists. However, industry experts believe the scooters will focus on everyday usability, comfortable riding, good fuel economy and modern convenience features to compete effectively against established rivals. Buyers in this segment increasingly expect digital instrument clusters, smartphone connectivity, LED lighting and ample storage space, making these likely additions to the upcoming models.

Piaggio’s decision to develop the scooters in India also underlines the country’s growing importance as a global engineering and manufacturing hub. Instead of adapting products designed for international markets, the company is building these scooters around the needs of Indian customers. This approach is expected to help deliver products that are better suited to local roads, traffic conditions and consumer preferences.

Despite its expansion into the commuter space, Piaggio has clarified that it will continue investing in its premium portfolio. Vespa and Aprilia will remain key pillars of the company’s India strategy, with new models and updates expected in those segments as well. The new commuter brand will complement the existing lineup rather than replace it.

The move comes at a time when competition in the Indian two-wheeler industry is intensifying. Manufacturers are introducing new petrol and electric scooters while focusing heavily on localisation, affordability and advanced technology. By entering the commuter segment with a dedicated India-made platform, Piaggio is positioning itself to compete more aggressively in a market that continues to witness strong demand.

While customers will have to wait until 2027 for the first scooters to reach showrooms, Piaggio’s announcement signals a major change in its India strategy. If the company can combine competitive pricing, dependable performance and modern features with its engineering expertise, the new Made-in-India commuter scooter range could significantly strengthen its presence in India’s booming two-wheeler market and offer buyers another credible alternative in the country’s most popular scooter segment.