Equity markets fall in early trade after 6-day rally
Mumbai (PTI): Benchmark indices Sensex and Nifty declined in early trade on Tuesday due to emergence of profit-taking in-tandem with a weak trend in global equity markets.
The 30-share BSE Sensex declined 292.95 points to 84,658 in early trade. The 50-share NSE Nifty dropped 83.3 points to 25,930.15.
From the Sensex firms, Tata Steel, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Kotak Mahindra Bank, and Larsen & Toubro were among the major laggards.
However, Bharat Electronics, Bharti Airtel, Axis Bank, and Adani Ports were among the gainers.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index were trading sharply lower.
US markets ended in negative territory on Monday.
"Tuesday may bring pockets of volatility due to weekly F&O expiry and soft global cues, yet the broader tone stays constructive, buoyed by political stability, cooling inflation, soft crude, trade-deal optimism and FII buying," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
The first phase of the proposed India-US bilateral trade agreement (BTA) is "nearing closure" and would address the hefty 50 per cent tariffs imposed by the Trump administration on Indian goods, in addition to resolving America's market access issues, a government official said on Monday.
The US has imposed a 25 per cent reciprocal tariff and another 25 per cent on Indian goods entering American markets for buying Russian crude oil.
Foreign Institutional Investors (FIIs) bought equities worth Rs 442.17 crore on Monday, according to exchange data. Domestic Institutional Investors (DIIs) also bought stocks worth Rs 1,465.86 crore in the previous trade.
Brent crude, the global oil benchmark, dipped 0.47 per cent to USD 63.90 per barrel.
Rallying for the sixth consecutive day on Monday, the Sensex climbed 388.17 points, or 0.46 per cent, to close at 84,950.95. The Nifty edged higher by 103.40 points, or 0.40 per cent, to settle at 26,013.45.
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345 Indian fishermen stranded in Iran return home via Armenia
New Delhi (PTI): A group of 345 Indian fishermen, who were stranded in Iran amid escalating regional tensions, returned to India via Armenia on Saturday, officials said.
External Affairs Minister S Jaishankar thanked his Armenian counterpart Ararat Mirzoyan for assistance in return of the Indian nationals.
The Indian nationals arrived in Chennai this evening, the officials cited above said.
The circumstances that led to them being stranded in Iran were not immediately known.
"Thank FM @AraratMirzoyan and the Government of Armenia for facilitating the evacuation of Indian fishermen today from Iran, through Armenia to India," Jaishankar said on social media.
Over 1,500 Indian nationals have left Iran through land border crossings in Armenia and Azerbaijan since the start of the West Asia conflict over a month ago.
"A group of Indian fishermen, stranded in Iran, are returning home via Armenia today; their flight is expected to reach India this evening," a government statement said.
It said the Ministry of External Affairs continues to closely monitor the evolving situation in the West Asian region, with the safety, security and welfare of the Indian community being accorded the highest priority.
It also made a mention of five Indians being injured in Abu Dhabi on Friday.
According to Abu Dhabi authorities, the Indian nationals were among the 12 people injured by debris from an intercepted missile.
"In an attack in Abu Dhabi, five Indian nationals were injured; four have been discharged, one remains under treatment," the Indian government's statement said.
It said the Indian mission in Abu Dhabi is extending "full" assistance and coordinating with local authorities, adding that their flight is expected to reach India this evening.
