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State Bank of India (SBI) surpassed D-Street expectations with a 12% increase in its June-quarter net profit, reaching 19,160 crore. This growth was primarily driven by higher treasury income and expansion in retail loans. The bank benefited from gains on government securities sales due to policy rate cuts and increased foreign exchange trading income.
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News and Media
Indian equity indices experienced a nearly 1% drop on Friday, marking their sixth consecutive week of losses due to concerns over the economic impact of US tariffs. Analysts anticipate continued selling pressure, with technical indicators suggesting further weakness. While foreign investors sold shares, domestic institutions were net buyers, and market volatility is expected to persist amid trade negotiation uncertainties.
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News and Media
Foreign investors heavily sold IT stocks in July, pulling out 14,422 crore due to weak quarterly results, headcount reductions, and global macroeconomic uncertainty. This selling pressure extended to other sectors, including financial services, oil and gas, and realty, as investors trimmed exposures and booked profits. Concerns about potential NPA increases in export-oriented sectors further influenced investment decisions.
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News and Media
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