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Sensex falls 493 points as Trump tariff threat deepens market selloff 

Sensex falls 493 points as Trump tariff threat deepens market selloff 

by | Aug 8, 2025 | Business


Markets extended their morning decline into the afternoon session on Friday, with the Sensex dropping 492.69 points to 80,130.57 and the Nifty falling 146.55 points to 24,449.60 as of 1.16 PM. The benchmark indices lost 0.61 per cent and 0.60 per cent respectively, continuing the negative momentum triggered by fresh U.S. tariff threats and persistent foreign institutional investor outflows.

President Trump’s decision to double tariffs on Indian goods to 50 per cent, with an additional 25 per cent levy effective August 27, has intensified selling pressure across sectors. Foreign institutional investors have accelerated their selling spree, offloading nearly ₹5,000 crore on Thursday alone and over ₹15,900 crore in August so far, though domestic institutional investor buying has provided partial support.

Market breadth remained weak with 2,049 stocks declining against 1,725 advances on the BSE. The broader market underperformed with the Nifty Midcap 100 falling 0.99 per cent to 56,374.40, while sectoral indices showed mixed performance. The Nifty Bank index declined 0.75 per cent to 55,107.15, and the Nifty Financial Services index dropped 0.69 per cent to 26,222.55.

Among individual stocks, NTPC emerged as the top Nifty gainer, rising 2.11 per cent to ₹336.70, followed by Titan Company which gained 1.46 per cent to ₹3,465.40. Trent added 0.97 per cent to ₹5,355.00, while HDFC Life Insurance rose 0.85 per cent to ₹762.10 and Tata Consumer Products climbed 0.66 per cent to ₹1,059.70.

On the downside, Adani Enterprises led the losers with a 3.24 per cent decline to ₹2,177.00, followed by Bharti Airtel which fell 2.71 per cent to ₹1,870.50. JSW Steel dropped 2.01 per cent to ₹1,043.40, Grasim Industries declined 1.94 per cent to ₹2,690.40, and IndusInd Bank fell 1.77 per cent to ₹793.10.

The Reserve Bank of India’s decision to maintain the repo rate at 5.5 per cent with a neutral stance has added to market caution, with traders interpreting the stance as hawkish given current economic conditions. Technical analysts continue to monitor Nifty support at 24,344 levels while resistance is pegged around 24,650-24,850.

Commodity markets reflected global uncertainty with gold and silver retreating from recent highs, though trade tensions provided underlying support. Crude oil prices fell below $64 per barrel on expectations of potential diplomatic engagement between the Trump administration and Russia.

Market participants remain concerned about the potential impact of prolonged tariff disputes on India’s economic growth trajectory, with analysts warning that sustained trade tensions could significantly affect GDP expansion in the coming quarters.

Published on August 8, 2025



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SBI: India’s oil import bill may jump billion without Russian crude

SBI: India’s oil import bill may jump $12 billion without Russian crude

by | Aug 8, 2025 | Business


India’s crude oil import bill could increase by $9–12 billion if it halts Russian oil purchases, according to a State Bank of India report

India’s crude oil import bill could increase by $9–12 billion if it halts Russian oil purchases, according to a State Bank of India report
| Photo Credit:
MOHAMMED ATY/Reuters

India’s crude oil import bill could increase by USD 9 billion to USD 12 billion, if the country stops buying Russian crude oil, according to a report by the State Bank of India (SBI).The report noted that if India halted oil imports from Russia for the rest of FY26, the fuel bill might increase by USD 9 billion in FY26 and USD 11.7 billion in FY27 due to increase in prices.

SBI stated “if India stopped oil imports from Russia during the rest of FY26, then India’s fuel bill might increase by only USD 9 billion”.

Russia currently accounts for 10 per cent of the global crude supply. If all countries stopped buying from Russia, crude oil prices could rise by around 10 per cent, provided no other countries increase their production.

India’s shift to Russian oil since 2022

India substantially increased purchasing of Russian oil since 2022, which was sold at a discount, capped at USD 60 per barrel, to ensure energy security after Western nations imposed sanctions on Moscow and avoided its supplies following the invasion of Ukraine.

As a result, Russia’s share in India’s total oil imports surged from just 1.7 per cent in FY20 to 35.1 per cent in FY25, making Russia India’s largest oil supplier. In volume terms, India imported 88 million metric tonnes (MMT) of crude from Russia in FY25, out of its total oil imports of 245 MMT.

Pre-war suppliers and existing contracts

Before the Ukraine war, Iraq was India’s top crude supplier, followed by Saudi Arabia and the United Arab Emirates (UAE).Indian refiners generally source oil from Middle Eastern producers through annual contracts, which allow flexibility to request additional supplies each month.

Since the imposition of sanctions on Russia, refiners have also turned to crude suppliers in the United States, West Africa, and Azerbaijan.

India’s widened crude sourcing network

India has further diversified its oil sources to about 40 countries. New supply options have emerged from Guyana, Brazil, and Canada, adding to the country’s energy security.

If Russian supplies were cut off, India could shift back to its traditional Middle Eastern suppliers under existing annual deals, ensuring flexibility in meeting its import needs.

SBI’s outlook: Costs may rise, but cushion exists

The SBI report highlighted that while the potential increase in the import bill is significant, India’s diversified supply network and established contracts with other oil-producing nations may help cushion the impact.

However, a rise in global crude prices due to reduced Russian exports would still put upward pressure on costs.

Published on August 8, 2025



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Iron ore posts weekly gain as China's steel exports hit record high

Iron ore posts weekly gain as China's steel exports hit record high

by | Aug 8, 2025 | Business


Iron ore futures edged lower on Friday but logged a weekly gain, supported by China’s record-high steel exports, robust mill margins, and low inventories.

The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.19% lower at 790 yuan ($109.99) a metric ton.

Still, the contract rose 0.7% this week.

The benchmark September iron ore on the Singapore Exchange was 0.15% lower at $102.1 a ton, but up 2.1% so far this week, as of 0707 GMT.

Major miners are paying out their lowest dividends in years after reporting lower half-year earnings, seeking to retain cash for their major development projects.

BHP will spend up to $7.4 billion on its Jansen potash mine in Canada, while Rio Tinto expects to spend more than $13 billion in the next three years to develop new iron ore mines in Western Australia as existing reserves decline.

China’s steel exports continued their rise in July, up 1.7% month-on-month, with the year-to-date tally at the highest level in records going back to 1990.

This comes despite the introduction of more trade barriers by countries worried that cheap Chinese steel is undercutting their domestic manufacturers.

Meanwhile, iron ore imports increased 2% year-on-year in July, well above average monthly imports for the year, as healthy mill margins and low steel inventories motivated mills to restock, said analysts from ANZ.

Broadly, ratings agency S&P Global has maintained China’s long-term credit at A+, noting that its robust fiscal stimulus measures are expected to support the country’s economic growth, even as it faces challenges from the property sector and tariff pressures.

Other steelmaking ingredients on the DCE were mixed, with coking coal up 0.49% and coke down 0.27%.

Steel benchmarks on the Shanghai Futures Exchange mostly lost ground. Rebar dipped 0.71%, hot-rolled coil lost 0.55%, and wire rod eased 0.23%, while stainless steel edged up 0.19%.

Published on August 8, 2025



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क्या 30 सितंबर के बाद ATM से 500 रुपये के नोट नहीं निकल पाएंगे? सरकार ने दिया ये जवाब

क्या 30 सितंबर के बाद ATM से 500 रुपये के नोट नहीं निकल पाएंगे? सरकार ने दिया ये जवाब

by | Aug 8, 2025 | Business


Government On 500 Rupees Notes: कई मीडिया रिपोर्टों में यह दावा किया गया था कि एटीएम से 500 रुपये के नोट निकलना बंद हो जाएगा. इस पर वित्त मंत्रालय ने स्पष्टीकरण दिया है. सरकार की ओर से संसद में कहा गया कि जनता की लेन-देन की आवश्यकताओं को ध्यान में रखते हुए आरबीआई यह सुनिश्चित करेगा कि सभी मूल्यवर्ग के नोटों की संख्या संतुलित रूप से उपलब्ध रहे.

आरबीआई का बैंकों को निर्देश:

छोटे मूल्य के नोटों तक लोगों की आसानी से पहुंच सुनिश्चित करने के लिए आरबीआई ने सभी बैंकों और व्हाइट लेबल एटीएम ऑपरेटर्स को निर्देश दिया है कि वे: 30 सितंबर 2025 तक 100 और 200 रुपये के नोटों की संख्या 75 प्रतिशत तक सुनिश्चित करें, और 31 मार्च 2026 तक इनकी संख्या को 90 प्रतिशत तक बढ़ाएं.

 क्या 500 रुपये के नोट बंद हो रहे हैं?

सरकार का उद्देश्य 500 रुपये के नोटों को बंद करना नहीं है, बल्कि कम मूल्यवर्ग के नोटों की उपलब्धता बढ़ाना है. संसद में एक प्रश्न के उत्तर में सरकार ने स्पष्ट किया कि 500 रुपये के नोट और एटीएम से उनके निकलने को लेकर चिंताओं का कोई आधार नहीं है.

क्यों उठाया गया यह कदम?

राज्यसभा के सत्र के दौरान 5 अगस्त 2025 को उच्च सदन के सदस्यों वाई. वेंकट सुब्बा रेड्डी और मिलिंद देवड़ा ने यह प्रश्न उठाया था. गौरतलब है कि इससे पहले भी आरबीआई ने बैंकों को निर्देश दिया था कि वे एटीएम में कम मूल्यवर्ग वाले नोटों की उपलब्धता सुनिश्चित करें, ताकि आम जनता को रोज़मर्रा के लेन-देन में कोई परेशानी न हो. जब भी लोगों को वित्तीय मामलों में परेशान होती है तो समय-समय पर आरबीआई की तरफ से बैंकों को निर्देश दिए जाते रहे हैं. लेकिन, कई बार फेक रिपोर्ट्स के चलते लोगों में इस बात की शंका बन जाती है कि कहीं सरकार हाई वैल्यू वाले नोट को बंद तो नहीं कर रही है.

ये भी पढ़ें: ट्रंप के 50% टैरिफ की मार से बिगड़ सकता है ‘मेक इन इंडिया’ प्लान, इस बड़ी एजेंसी का पूर्वानुमान



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Udhayanidhi Stalin demands education to be “brought back” under state list

Udhayanidhi Stalin demands education to be “brought back” under state list

by | Aug 8, 2025 | Business


Tamil Nadu Deputy Chief Minister Udhayanidhi Stalin on Friday lauded the move by his DMK-led government to release the State Education Policy (SEP) amid opposition to the National Education Policy (NEP), demanding that education must be brought back to the State list. “Education was once in the state list, then changed to the concurrent list. It should be brought back to the state list again,” Stalin said while addressing the gathering at the Anna Centenary Library Auditorium.

Targeting the central government, the Deputy CM claimed that efforts were being made to “destroy” education in the state. “I feel proud today when our CM released the state education policy. This is an educational and knowledge festival today. TN is creating history now. Our Tamils were given education in the Sangam era, but it was denied in the middle. Not only then, but now too, efforts are made to destroy our education,” Stalin said.

Recalling Periyar’s opposition to the Kula Kalvi scheme (Modified Scheme of Elementary Education), the Deputy CM stated that the centre was attempting to implement the same allegedly controversial scheme that had faced protests under NEP. “Kuka Kalvi scheme (Modified Scheme of Elementary Education) was opposed by our leader Periyar, and protests were done, and then that scheme was dropped. Now, the Union government is trying to impose the Kuka Kalvi scheme through the NEP. It’s our CM who said firmly and boldly that we will not accept NEP and we will have our own SEP,” Stalin stated.

He praised CM MK Stalin for taking a firm stand against implementing the NEP and the three-language policy in Tamil Nadu. “The Union minister said you should implement a new education policy and triple language in our education, or else no funds will be released to the state. But our CM opposed it and stood firm on double language,” Udhayanidhi added. This move comes after months of protests against the National Education Policy (NEP) promoted by the Centre.

The DMK-led Tamil Nadu government has consistently opposed the NEP, calling it “against social justice” and an attempt to impose Hindi on the state. Tamil Nadu has refused to implement the NEP.

In May, the state government filed a plea in the Supreme Court over the alleged withholding of about ₹2,200 crore in central funds, which it linked to its refusal to adopt the NEP. The plea asks the court to declare that the NEP 2020 and the PM SHRI Schools Scheme are not binding on the state unless it formally agrees to them.The government argued that its funds under the Samagra Shiksha Scheme have been unlawfully tied to these central schemes, calling the move “unconstitutional, arbitrary, and illegal”.

Published on August 8, 2025



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GIC Re Q1 profit jumps 69% to ₹1,752 cr

GIC Re Q1 profit jumps 69% to ₹1,752 cr

by | Aug 8, 2025 | Business


GIC Re has posted a 69 per cent surge in net profit to ₹1,752 crore for the first quarter ended June 30, 2025.

The state-owned reinsurance company had earned ₹1,036 crore in the same quarter in the previous financial year.

Total income of the re-insurer rose to ₹13,352 crore in the June quarter, compared to ₹11,964 crore in the same quarter a year ago, GIC Re said in a regulatory filing.

During the quarter, the company collected a lower gross premium of ₹12,388 crore. In the quarter ended June 30, 2024 its gross premium stood at ₹12,405 crore. The decline was due to IRDAI’s change in the accounting of long-term policies in October 2024, and thus figures are not exactly comparable with June 30, 2024, it said.

During the quarter, the company’s underwriting loss narrowed to ₹907 crore, as against ₹1,289 crore in the same period a year ago.

The solvency ratio increased to 3.85 from 3.36 at the end of June 2024.

Total assets of the company rose to ₹1,97,540 crore, as against ₹1,86,552 crore in the previous year.

Net Worth of the company (including fair value change account) increased by 4.17 per cent to ₹89,513 crore, compared to ₹85,926 crore as on June 30, 2024.

GIC Re is the largest reinsurer in the domestic reinsurance market in India and leads most of the domestic companies’ treaty programmes and facultative placements.

Published on August 8, 2025



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