Sensex, Nifty tumble for 3rd day, dragged by Kotak Bank, US trade deal uncertainty
Mumbai, Jul 28 (PTI): Falling for the third straight session on Monday, benchmark Sensex tumbled by 572 points to close at nearly a two-month low due to heavy selling in Kotak Mahindra Bank, forex outflows and uncertainty related to the India-US trade deal.
The 30-share BSE barometer tanked 572.07 points or 0.70 per cent to settle at 80,891.02, a level not seen since June 4. During the day, it slumped 686.65 points or 0.84 per cent to 80,776.44.
The 50-share NSE Nifty declined 156.10 points or 0.63 per cent to close at a nearly two-month low of 24,680.90. As many as 35 Nifty shares declined, and 15 advanced.
Analysts said disappointing quarterly results and continued selling by FIIs dragged stock markets down for the third session in a row. Nifty has tanked over 2 per cent or 539 points while Sensex retreated by 1,835 points or 2.2 per cent to trade at near two-month low levels.
Among Sensex firms, Kotak Mahindra Bank tumbled the most by 7.31 per cent after the company reported a consolidated net profit of Rs 4,472 crore for the June quarter, and flagged stress on the retail commercial vehicle portfolio due to adverse macroeconomic conditions.
The profit in the year-ago period was Rs 7,448 crore, but it had included gains of over Rs 3,000 crore on its stake sale in the general insurance arm, while the net profit for the March quarter stood at Rs 4,933 crore.
Bajaj Finance dropped 3.64 per cent amid asset quality concerns, while Bharti Airtel fell by 2.35 per cent.
Tata Consultancy Services dropped 1.76 per cent amid reports that the IT major has decided to lay off over 12,000 employees. Sources said that the IT Ministry is keeping a close watch on the entire situation and is in touch with the tech company over the matter.
Titan, HCL Tech and State Bank of India were also among the laggards.
However, Hindustan Unilever, Asian Paints, ICICI Bank, Power Grid, HDFC Bank and ITC were the gainers.
"Domestic market sentiment has remained cautious, weighed down by a disappointing set of Q1 earnings, delays in the India-US trade agreement, and continued FII outflows. In contrast, global markets remain broadly positive, supported by US-EU trade developments that are perceived as less concerning than anticipated.
"The upcoming monetary policy decisions from the Fed and BoJ, along with the trajectory of domestic quarterly earnings, are expected to play a pivotal role in shaping market direction in the near term," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE smallcap gauge tumbled 1.31 per cent and midcap index fell by 0.73 per cent.
Among BSE sectoral indices, realty tanked 4.11 per cent, followed by telecommunication (1.56 per cent), capital goods (1.49 per cent), BSE industrials (1.40 per cent), teck (1.21 per cent) and metal (1.06 per cent).
FMCG and utilities were the gainers.
A total of 2,874 stocks declined while 1,264 advanced and 161 remained unchanged on the BSE.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,979.96 crore on Friday, according to exchange data.
In Asian markets, Japan's Nikkei 225 index settled lower while South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng ended in positive territory.
Markets in Europe were trading in the green. The US markets ended higher on Friday.
Global oil benchmark Brent crude climbed 0.91 per cent to USD 69.05 a barrel.
The rupee pared initial gains and settled 15 paise lower at 86.67 (provisional) against the US dollar due to month-end dollar demand from importers.
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'Homebound' makes it to Oscar shortlist for best international feature
Mumbai (PTI): Neeraj Ghaywan's much acclaimed "Homebound" is among the 15 films shortlisted in the best international feature category at the Oscars, moving a step close to the final five nominations and maybe a win.
The movie, inspired by a true story that became the basis of a news article during the pandemic, has been creating a global buzz since its debut in the Un Certain Regard category at the Cannes Film Festival this May.
Hollywood legend Martin Scorsese is a fan and has come onboard as an executive producer ahead of the award season.
Produced by Karan Johar and Adar Poonawalla, and starring Ishaan Khatter, Vishal Jethwa and Janhvi Kapoor, "Homebound" is Ghaywan's second movie after "Masaan".
"Homebound" will compete for an Oscar nomination alongside Argentina's “Belén”, Brazil's “The Secret Agent”, French drama "It Was Just an Accident”, Germany's "Sound of Falling” and Iraq's "The President's Cake".
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The other movies in the shortlist include Japan's “Kokuho”, Jordan's “All That’s Left of You”, Norway's “Sentimental Value”, Palestine's “Palestine 36”, South Korean hit “No Other Choice”, Spain's “Sirat”, "Late Shift" from Switzerland, “Left-Handed Girl”from Taiwan and Tunisian drama “The Voice of Hind Rajab”, the Academy of Motion Picture Arts and Sciences announced in a release on Tuesday.
The award for best foreign film, now re-categorised as best international feature, has so far eluded India.
Only three Indian films have received nominations in the category -- Mehmood Khan’s “Mother India”, Mira Nair’s “Salaam Bombay” and Ashutosh Gowarikar’s “Lagaan”. Deepa Mehta’s “Water”, starring John Abraham and Lisa Ray, also received a nomination but it was submitted from Canada.
Gujarati film "Chhello Show" in 2023 was the last film to get shortlisted.
Costume designer Bhanu Athaiya was the first Indian to get an Oscar, bagging the coveted prize in 1983 for the film "Gandhi". Other than her, A R Rahman, Resul Pukootty and M M Keeravani have also won individual Oscars.
Team "Homebound" celebrated the shortlist news with posts on social media.
"We made the shortlist... Way to go team Homebound'!" Johar shared in Instagram Stories.
In a post, the producer said it was difficult for him to articulate how "proud and elated" he was with the news.
"All of us @dharmamovies are privileged to have this proud and important film in our filmography... thank you @neeraj.ghaywan for making so many dreams of ours come true... from Cannes to being on the Oscar shortlist this has been such an overwhelming journey! Love to the entire cast and crew and teams of this special special film! Upwards and onwards...."
Ghaywan also shared the news on X.
"#Homebound has been shortlisted for Best International Feature Film at the 98th Academy Awards! We are deeply grateful for the extraordinary love and support we've received from around the world," he wrote on X with a special poster of the film.
Jethwa, who plays one of the two friends in the story opposite Ishaan Khatter, said the moment feels "surreal and incredibly humbling".
"To see 'Homebound' being shortlisted and progressing towards the Oscars is something I could have only dreamed of. I am deeply grateful for the love and support the film has received from audiences around the world," he said as he acknowledged Johar, Ghaywan and co-star Khatter and the rest of the team.
Khatter also shared the news on his Instagram stories and wrote, "Oscar ab dur nahi".
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"Homebound" is inspired by journalist Basharat Peer's The New York Times article “Taking Amrit Home”, also titled "A Friendship, a Pandemic and a Death Beside the Highway".
The film portrays the childhood friendship between a Muslim and Dalit who chase a police job that promises them the dignity they have long been denied due to their surnames.
The Academy on Tuesday also announced shortlists in 11 other categories, including the newly added casting Oscars, animated shorts, cinematography, documentary feature, documentary short, original score and song, sound and visual effects categories.
Nominations for the 98th Academy Awards will be announced on Thursday, January 22, 2026.
Twenty-four categories will be awarded at the 98th Oscars. Each category has five nominees, except for best picture, which has 10.
The 98th Oscars will be held on Sunday, March 15, 2026, at the Dolby Theatre in Los Angeles.
