Friday, March 13
Asian equities saw modest gains as investor sentiment was buoyed by Trump's softened stance on tariff hikes, hinting at potential negotiations. Oil prices stabilized after an earlier surge, influenced by trade uncertainties and OPEC+'s increased output. Despite ongoing trade jitters and cautious optimism, markets remain alert to potential volatility.
Donald Trump announced new tariffs on foreign imports. These tariffs will be effective from August 1, 2025. He stated no further extensions would be granted. Letters outlining tariffs have been sent to various countries. These countries include Japan, South Korea and others. The tariffs range from 25 to 40 percent. This is unless trade deals are reached before the deadline.
The Mumbai-Ahmedabad bullet train project achieved a significant milestone with the completion of the Daman Ganga River bridge in Gujarat's Valsad district, announced NHSRCL. This 360-meter bridge is the 16th of 21 planned river bridges in Gujarat and the fifth in Valsad. The bridge lies between the Boisar and Vapi stations.
Wall Street experienced a mixed start as investors assessed President Trump's renewed tariff threats and concerns about elevated stock valuations. The Dow Jones Industrial Average saw a slight decrease, while the Nasdaq and S&P 500 showed marginal gains.
Titan Company's shares plummeted 5.5% after Q1 business update disappointed analysts, impacting the Jhunjhunwala family's portfolio. Core jewellery segment growth was lower than expected due to surging gold prices affecting consumer sentiment. Brokerages turned cautious amid competition, while Titan focuses on strategies to attract customers despite modest growth.
The finance ministry is pressing public sector banks to expedite education loan processing, aiming for approvals within 15 days. Banks must establish centralized systems and higher authority approval for rejections, with clear communication to students.
Stock market today: The NSE Nifty 50 index settled at 25,522.50, registering an increase of 61.20 points or 0.24 per cent after subdued trading. The BSE Sensex concluded Tuesday's trading session with a gain of 270 points, driven by late purchases in banking and select IT shares, alongside positive trends in Asian markets.
Following the Air India crash, India's aviation safety is under review. Parliament committees are meeting with aviation officials. They are examining lapses and demanding accountability. The focus is on infrastructure, emergency response, and technology. Audits of airlines and airports are underway. The government has pledged investment for upgrades. Regulatory reforms are also needed for aviation safety.
India's national highway toll collections surged by 19.6% in the first quarter of the fiscal year, reaching a record high of Rs 20,681.87 crore. This growth, driven by revised toll rates, new roads, and increased highway usage, could push annual revenue above Rs 80,000 crore.
India's IT sector faces a challenging Q1 earnings season in 2025, marked by low investor interest and attractive valuations. Despite a significant drop in the Nifty IT index and declining FII ownership, high dividend yields and potential cross-currency tailwinds offer a contrarian opportunity.
