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Forwarded from CapitalVia - Stocks | Nifty | Sensex | Commodity | NSE | BSE (R G)
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India's IT Industry on Edge as U.S. Proposes Tax on Outsourcing
The Indian information technology (IT) sector, a cornerstone of the country's economy, is grappling with significant unease following reports of a proposed U.S. tax on outsourcing. This potential policy shift, aimed at curbing the offshoring of jobs and services, could have far-reaching implications for India's $200 billion-plus IT and business process management (BPM) industry, which relies heavily on U.S. clients for nearly 60-65% of its revenue.
The Indian information technology (IT) sector, a cornerstone of the country's economy, is grappling with significant unease following reports of a proposed U.S. tax on outsourcing. This potential policy shift, aimed at curbing the offshoring of jobs and services, could have far-reaching implications for India's $200 billion-plus IT and business process management (BPM) industry, which relies heavily on U.S. clients for nearly 60-65% of its revenue.
Indian benchmark indices Sensex and Nifty are likely to see a higher start on September 12, tracking GIFT Nifty, which was hovering around 25,186.50.
In yet another range-bound session on September 11, the Indian equity markets ended higher with Nifty finishing above 25,000 for the first time since August 21.
The Nifty50 index extended its winning run on its 7th straight session, closing at 25,005.50, up 32.40 points or 0.13 percent, while BSE Sensex also extended its rally on its fourth day, closing at 81,548.73, up 123.58 points or 0.15 percent.
Broader indices underperformed the main indices, with BSE Midcap and smallcap indices finishing on a flat note.
In yet another range-bound session on September 11, the Indian equity markets ended higher with Nifty finishing above 25,000 for the first time since August 21.
The Nifty50 index extended its winning run on its 7th straight session, closing at 25,005.50, up 32.40 points or 0.13 percent, while BSE Sensex also extended its rally on its fourth day, closing at 81,548.73, up 123.58 points or 0.15 percent.
Broader indices underperformed the main indices, with BSE Midcap and smallcap indices finishing on a flat note.
The NIFTY 50 index ended the session with a modest gain of 0.13%, closing at 25,005.5, with a total of 24 advances and 26 declines.
The market sentiment remained subdued, with key heavyweights such as HDFC Bank (+0.20%) and ICICI Bank (-0.16%) showing mixed performance.
The top gainers, including Shriram Finance (+2.52%), Adani Enterprises (+2.50%), and NTPC (+1.66%), drove the index higher, while notable decliners like Infosys (-1.49%), Bajaj Auto (-1.41%), and Titan (-1.01%) weighed on the sentiment.
The Nifty 50 opened at 24,945.50, hit a high of 25,037.30, and a low of 24,940.15, marking an intraday swing of 97.15 points.
The index rebounded from an early weakness to finish at 25,005.50, up 32.40 points (0.13%) on the day.
Selective buying helped the market reclaim the 25,000 mark, although the intraday range was relatively narrow.
RSI is nearing 60, signaling strengthening momentum.
Near-term support and resistance are at 24845/24746 and 25166/25265.
The market sentiment remained subdued, with key heavyweights such as HDFC Bank (+0.20%) and ICICI Bank (-0.16%) showing mixed performance.
The top gainers, including Shriram Finance (+2.52%), Adani Enterprises (+2.50%), and NTPC (+1.66%), drove the index higher, while notable decliners like Infosys (-1.49%), Bajaj Auto (-1.41%), and Titan (-1.01%) weighed on the sentiment.
The Nifty 50 opened at 24,945.50, hit a high of 25,037.30, and a low of 24,940.15, marking an intraday swing of 97.15 points.
The index rebounded from an early weakness to finish at 25,005.50, up 32.40 points (0.13%) on the day.
Selective buying helped the market reclaim the 25,000 mark, although the intraday range was relatively narrow.
RSI is nearing 60, signaling strengthening momentum.
Near-term support and resistance are at 24845/24746 and 25166/25265.
#ViaMarkets | The Indian stock market benchmark indices are likely to open lower, tracking mixed cues from global markets.
#StocksToWatch
1. Hyundai Motor India
2. Apollo Hospitals
3. Britannia Industries
4. GMR Airports
5. Dr. Reddy's Lab
6. Tata Technologies
7. Aditya Birla Capital
8. Adani Power
9. Alembic Pharma
10. Urgo Capital
1. Hyundai Motor India
2. Apollo Hospitals
3. Britannia Industries
4. GMR Airports
5. Dr. Reddy's Lab
6. Tata Technologies
7. Aditya Birla Capital
8. Adani Power
9. Alembic Pharma
10. Urgo Capital
📊 #MarketToday
As of 10:01 AM IST on Tuesday, September 16, 2025, here's the latest summary of the Indian Stock Markets: The Nifty50 index is up 0.25% to 25,132.80, while the BSE Sensex rises 0.28% to 82,012.16, reflecting a positive sentiment amid optimism over U.S.-India trade talks.:
🔹 The banking sector shows strength with Bank Nifty gaining 0.17%, driven by robust performances from major banks, indicating investor confidence in financial stability.
🔹 NCC shares surge 1.63% after securing a significant order worth ₹2,090 crores, showcasing strong demand in infrastructure, while Krbl drops 10%, hitting a three-year low, reflecting sector-specific challenges.
🔹 Investor sentiment appears cautiously optimistic, bolstered by institutional buying and positive global cues, although concerns over inflation and geopolitical tensions remain prevalent.
As of 10:01 AM IST on Tuesday, September 16, 2025, here's the latest summary of the Indian Stock Markets: The Nifty50 index is up 0.25% to 25,132.80, while the BSE Sensex rises 0.28% to 82,012.16, reflecting a positive sentiment amid optimism over U.S.-India trade talks.:
🔹 The banking sector shows strength with Bank Nifty gaining 0.17%, driven by robust performances from major banks, indicating investor confidence in financial stability.
🔹 NCC shares surge 1.63% after securing a significant order worth ₹2,090 crores, showcasing strong demand in infrastructure, while Krbl drops 10%, hitting a three-year low, reflecting sector-specific challenges.
🔹 Investor sentiment appears cautiously optimistic, bolstered by institutional buying and positive global cues, although concerns over inflation and geopolitical tensions remain prevalent.