India’s benchmark indices fell for a second straight session, dragged down by heavy losses in pharma, IT, and metal sectors after the US imposed unexpected tariffs on Canadian imports. The Nifty dropped below 24,650, and the Sensex shed over 300 points amid broad-based selling pressure, with smallcaps particularly under strain.

India’s stock markets faced sharp losses on Friday, July 31, as investor sentiment was shaken by sudden US tariff escalations. The BSE Sensex dropped by 324.56 points, or 0.40%, to 80,861.02, while the NSE Nifty 50 declined by 124.25 points, or 0.50%, to 24,644.10.

This decline marked the second consecutive session of losses, primarily triggered by a steep fall in pharma, IT, and metal stocks, as well as ongoing concerns about global trade policies. Market breadth remained weak with over 2,000 stocks declining against 1,399 advancing.

The slide followed a new directive from the United States, where President Donald Trump unexpectedly hiked import duties on Canadian goods to 35% from 25%, intensifying global trade tensions. Analysts warn that these tariffs could potentially disrupt investor risk appetite worldwide.

Sectoral Pressure

The Nifty Pharma index led the losses, falling by 2.84%, followed by Nifty IT (-1.26%), Oil & Gas (-1.05%), and Metal (-0.93%). Meanwhile, Nifty FMCG (+0.86%) and Media (+1.03%) were the only gainers. Other indices like Auto, Infra, Realty, and Midcap 100 also witnessed notable selling.

The India VIX, a volatility gauge, rose 1.65% to 11.73, reflecting increased nervousness in the market.

Top Movers

Among the top losers on the Nifty were Dr. Reddy’s Laboratories, Sun Pharma, Cipla, Tata Steel, and ONGC.

On the other hand, Hindustan Unilever (HUL) surged nearly 8%, driven by positive analyst outlooks after its Q1 FY26 results showed a 6% YoY rise in net profit to ₹2,768 crore, with revenue up 5% to ₹16,323 crore. This rally pushed HUL’s two-day gains to over 12%.

Other Notable Stocks

• PNB Housing Finance plunged over 15% after the company accepted the resignation of its MD & CEO Girish Kousgi, raising concerns about continuity in strategic leadership.
  
• Swiggy dropped 4%, as its Q1 FY26 net loss widened 96% YoY to ₹1,197 crore, from ₹611 crore a year ago, despite positive sentiment from international brokerages.

Also Read: Mahindra Grabs 54.2% LCV Market Share: Full Q1 FY26 Breakdown

Technical View

Nifty faced resistance near the 50-EMA around 24,950 before slipping. The index closed around 24,750, with immediate support at 24,500 and resistance at 25,000. A move above 25,000 could shift market bias to bullish, while a breach below 24,500 may intensify selling.
The Sensex, meanwhile, remained volatile and needs a decisive close above 82,050 to regain upward momentum.

Top Gainers

• Trent
• Asian Paints
• HUL
• Eicher Motors
• ITC

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Read the full article here: Sensex Falls 350 Points, Nifty Slips Below 24,650 — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

PNB Housing Finance shares fell sharply by 16.9% after Managing Director and CEO Girish Kousgi submitted his resignation to pursue external opportunities. The leadership change, effective October 28, 2025, triggered investor caution, though the company reaffirmed its growth strategy and operational stability.

PNB Housing Finance Ltd, headquartered in New Delhi, is a leading housing finance company in India. The company operates in the financial services sector and focuses on providing housing loans, loans against property, and construction finance to individuals and corporations. It is a key subsidiary in the broader Punjab National Bank (PNB) group and operates independently as a listed entity.

In a significant leadership development, the company announced that its Managing Director and Chief Executive Officer, Girish Kousgi, has resigned from his position. According to an official filing made with the stock exchanges, the resignation letter dated July 30, 2025, was formally accepted by the Board of Directors during its meeting on July 31. The resignation will come into effect at the close of business hours on October 28, 2025.

Following the announcement, PNB Housing Finance shares saw a sharp decline of 16.9% during intraday trading, touching a low of ₹819.25 on the Bombay Stock Exchange. The market reaction was immediate, reflecting investor concerns over the sudden leadership transition at the top level.

Kousgi, who joined the company three years ago, cited professional reasons for stepping down. In his resignation letter, he expressed gratitude toward the Board, stakeholders, and employees for their continued support, calling his tenure both professionally rewarding and fulfilling.

Also Read: PNB’s Q4 Report Card: Profit Up 52%, Dividend and Fundraising Unveiled

In addition to his exit from the parent company, Kousgi will also step down as a director on the boards of PHFL Home Loans and Services Ltd and the PEHEL Foundation—both subsidiaries of PNB Housing Finance—effective the same day.

In a follow-up statement, the company affirmed its commitment to business continuity, financial discipline, and long-term strategic goals. The Board emphasized that the operational framework and strategic priorities remain firmly in place, built on the foundation laid during Kousgi’s tenure. The company assured investors and stakeholders that the high-performing leadership team continues to drive its performance in terms of asset quality, growth, and profitability.

The Board has also confirmed that a structured and merit-based executive search process has been initiated to appoint a new leader. The focus will be on selecting a candidate who aligns with the company’s strategic direction and long-term value creation plan.

Also Read: PNB Q3 Results: Net Profit Jumps 103%, Asset Quality Improves

As part of the leadership change communication, R. Chandrasekaran, Chairman of the Nomination and Remuneration Committee, reiterated the company’s confidence in identifying a capable successor who can strengthen the leadership team and sustain operational momentum.

Despite the volatility seen in the immediate aftermath of the announcement, PNB Housing Finance’s long-term performance reflects robust returns. While the stock has declined nearly 25% over the past month and 18% in the last quarter, it has posted a 3.82% gain over the past year. Over the last five years, the stock has delivered an impressive 386% return, underscoring the strength of its business fundamentals.

With a strong balance sheet and stable asset quality metrics, PNB Housing Finance aims to navigate the leadership transition smoothly while continuing to focus on operational efficiency and expanding its retail loan book across Tier I and Tier II cities.

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Read the full article here: Leadership Shift Jolts PNB Housing Finance, Shares Dive Nearly 17% — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

Stocks such as Adani Enterprises, PNB Housing, Federal Bank, JSW Infra, and others are expected to be in focus on May 2, 2025, following key corporate announcements and market trends. Investors should keep an eye on these stocks as market volatility and strong earnings continue to shape the financial landscape.

On May 2, 2025, several stocks will be under investor scrutiny, with major developments and earnings reports making waves in the Indian stock market. Among the companies drawing attention are Adani Enterprises, PNB Housing Finance, JSW Infrastructure, Federal Bank, and more. Below are key updates on these stocks that could influence market movements.

Adani Enterprises

Adani Enterprises, a flagship company of the Adani Group, has seen an 8.5 times YoY increase in net profit for Q4 FY2025, amounting to ₹3,844.9 crore. Despite a 7.6% YoY drop in revenue to ₹26,965.9 crore, the company’s board has approved raising funds of up to ₹15,000 crore through various funding methods, including QIP and preferential issues.

PNB Housing Finance

PNB Housing Finance is making headlines as the Carlyle Group affiliate, Quality Investment Holdings, plans to sell its entire 10.44% stake in the company. The shares, set at a floor price of ₹960 per share, will be sold through a block deal. This marks a significant shift in the company’s shareholder structure. Media reports suggest the sale may impact the stock price in the short term.

JSW Infrastructure

JSW Infrastructure has announced a remarkable 56% YoY rise in net profits to ₹515.58 crore for Q4 FY2025. Revenue for the quarter increased by 17% to ₹1,283.18 crore. The company’s cargo volumes reached 31.2 million tonnes, further highlighting the growth trajectory of the logistics and port services business.

Federal Bank

Federal Bank, based in Kerala, has delivered a solid performance with a 13.7% YoY rise in net profit to ₹1,030.2 crore for Q4 FY2025. The bank’s net interest income (NII) increased by 8.3% YoY to ₹2,377.4 crore, while net interest margins (NIM) improved to 3.12%. This indicates the bank’s continued strength and strategic efforts to improve profitability.

Other Key Stocks

• Indus Towers: The telecom infrastructure company saw a 4% YoY drop in net profit, although revenue grew by 7.4% in Q4 FY2025.
  
• Eternal: The food delivery company reported a significant drop in net profit, down 78% YoY, despite a 64% increase in revenue.
  
• Adani Ports: The ports and logistics player achieved a 47.8% YoY rise in net profit for Q4 FY2025, with strong revenue growth of 23.1%.
  
• JSW Energy: JSW Neo Energy, a subsidiary of JSW Energy, signed a significant energy storage agreement with Uttar Pradesh Power Corporation for 1,500 MW of pumped hydro energy.
  

Investors are advised to monitor these stocks closely, as market movements and corporate actions in the coming days could significantly impact their performance.

Read the full article here: Market Movers: The Stocks That Could Shape India’s Financial Future — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

The U.S.-based Carlyle Group sold its entire 10.44% stake in PNB Housing Finance, a major non-banking finance company based in India, through a block deal. The sale, estimated at around 17.3 million shares, took place at ₹1,000.20 per share, slightly below the previous closing price. Despite the exit, shares of PNB Housing rose by 6% on the National Stock Exchange.

U.S.-based private equity firm Carlyle Group, known for global investments in private equity, real assets, and private credit, has exited PNB Housing Finance Ltd., a prominent non-banking financial company (NBFC) based in New Delhi, India. The group sold its full 10.44% stake via block deals.

Carlyle held its shares in PNB Housing Finance through its affiliate, Quality Investment Holdings, and was the company’s second-largest shareholder. The block deal involved around 17.3 million shares, which account for roughly 60% of the total transaction, exchanged during early trading hours on May 2.

The shares were sold at ₹1,000.20 each—just under a 1% discount to the closing price on April 30. Interestingly, the move did not deter market sentiment, as shares of PNB Housing Finance surged by 6% on May 2.

The block trade was reportedly launched at a floor price of ₹960 per share. While the exact details of the buyers remain undisclosed, stock exchange data confirmed the volume traded.

Both Carlyle Group and PNB Housing Finance declined to comment on the development.

PNB Housing Finance, headquartered in New Delhi, offers retail and corporate housing loans and is among the top housing finance companies in India. The company’s strong performance has continued to attract investor interest even amidst such large-scale exits.

Read the full article here: A Move That Shook the Market: USA’s Carlyle Sells Entire Stake in PNB Housing — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).