Markets end higher amid midcap rally; Sensex up 182 points
Benchmark indices closed in the green on Wednesday, buoyed by gains in metals, IT, and broader market segments, though early momentum faded in the latter half of the session. The Sensex rose 182.34 points to settle at 81,330.56, while the Nifty50 ended 88.55 points higher at 24,666.90.The rally was underpinned by renewed strength in mid- and small-cap stocks, which outperformed the frontline indices with gains of 1.11% and 1.44% respectively. Sectors such as realty and energy also contributed to the positive sentiment.Vinod Nair, Head of Research at Geojit Financial Services, attributed the rebound in midcaps to easing macroeconomic concerns. 'A sharp decline in both global and domestic risks has reignited optimism,' he said, noting that the March-quarter earnings recovery, falling inflation, rising incomes, and lower interest rates were supporting the momentum.'The underperformance in mid- and small-caps due to valuation concerns and muted flows earlier this year is now reversing, helped by marginal earnings upgrades and expectations of a stronger FY26," he added. The day's session, however, wasn't without volatility. Aditya Gaggar, Director at Progressive Shares, pointed out that a mid-session dip in banking stocks briefly dragged indices into the red before a late-stage recovery.'Metals and IT led the early gains, but banking weakness caused a pullback. The index later regained strength, closing with modest gains,' he said.On the technical front, Gaggar noted that the Nifty formed a small green candle, signalling cautious optimism. A decisive break above 24,770 could push the index toward the next resistance at 24,900, while immediate support lies at 24,550.advertisement(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
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India Gazette
2 hours ago
- India Gazette
Indian stocks remain in green for fourth day; Sensex jumps 256 points
Mumbai (Maharashtra) [India], June 9 (ANI): The Indian stock indices ended on a positive note on Monday, rising for the fourth straight session, continuing to take cue from the RBI's decision to cut repo rates by 50 basis points. The Sensex closed at 82.445.21 per cent, up 256.22 points or 0.31 per cent, while Nifty closed at 25,103.20 points, up 100.15 points or 0.40 per cent. 'Financial stocks extended their rally in Indian markets, driven by the RBI's supportive aggressive policy of rate and CRRA cut. These actions have boosted investor confidence and are expected to enhance liquidity in the near to medium term, especially in midcaps,' said Vinod Nair, Head of Research, Geojit Investments Limited. All the Nifty Sectoral indices ended their day in the green territory except Nifty Realty. Out of all the sectors, Nifty Financial Services Ex-Bank was the top mover, followed by Nifty PSU Bank and Nifty Oil & Gas. 'Banking stocks were the standout performers of the session, with the Bank Nifty index extending its rally to hit a fresh all-time high. For the first time ever, the index breached the 57,000 mark, underscoring the market's optimism following a surprise 50 basis points cut in the repo rate and a simultaneous reduction in the Cash Reserve Ratio (CRR) by the Reserve Bank of India (RBI),' according to Bajaj Broking Research. According to the latest US jobs data, employers added 1,39,000 jobs last month. Average hourly earnings increased 0.4% in May against a rise of 0.3%, as reported by Reuters. 'The positive US jobs data and renewed optimism over U.S.-China trade talks lifted global sentiment. Domestically even large caps expressed renewed momentum led by FIIs inflows,' Vinod Nair added. On Friday, RBI decided to reduce the policy repo rate under the Liquidity Adjustment Facility by 50 basis points to 5.5 per cent. This rate cut was accompanied by a cut in the Cash Reserve Ratio (CRR) by 100 basis points in four tranches of 25bps each. (ANI)
Time of India
3 hours ago
- Time of India
Shares of Eternal, Swiggy drop as Rapido undercuts food delivery commission
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Mint
3 hours ago
- Mint
Sensex, Nifty 50 rise for 4th consecutive session; investors earn ₹4 lakh crore— 10 key highlights
Indian stock market extended gains to the fourth consecutive session on Monday, June 9, on across-the-board buying amid largely positive global cues. The Sensex closed 256 points, or 0.31 per cent, higher at 82,445.21, while the Nifty 50 settled at 25,103.20, up 100 points, or 0.40 per cent. The mid and small-cap segments outperformed as the BSE Midcap and Smallcap indices rose 1.03 per cent and 1.19 per cent, respectively. The overall market capitalisation of BSE-listed firms rose to ₹ 455 lakh crore from ₹ 451 lakh crore in the previous session, making investors richer by about ₹ 4 lakh crore in a day. In the last four sessions, the Sensex and the Nifty 50 have jumped more than 2 per cent each, and investors have got richer by about ₹ 12 lakh crore. The recent rally in the market has followed healthy domestic macro prints, better-than-expected Q4 results and the RBI's bumper 50 bps rate cut. Positive global cues amid expectations that the US-China and US-India trade deals were near also influenced market sentiment. "The Indian stock market has been experiencing strength recently, backed by positive economic growth and better-than-expected fourth-quarter results. We could see a positive structure for the indices playing out, considering the liquidity in the capital markets continues to be fairly buoyant and the continuation of steady growth in the Indian economy," Jimeet Modi, founder and CEO of SAMCO Group, told Mint. 39 stocks ended higher in the Nifty 50 index, out of which Jio Financial Services (up 3.89 per cent), Kotak Mahindra Bank (up 3.25 per cent) and Bajaj Finance (up 2.69 per cent) ended as the top gainers. Shares of Eternal (down 1.86 per cent), ICICI Bank (down 1.73 per cent) and Titan Company (down 0.73 per cent) closed as the top losers in the index. Barring Nifty Realty (down 0.14 per cent), all sectoral indices ended higher. Nifty PSU Bank (up 1.52 per cent), Private Bank (up 1.03 per cent), Oil & Gas (up 1.04 per cent) and IT (up 1 per cent) ended as the top gainers. Nifty Bank and Financial Services indices rose 0.46 per cent and 0.54 per cent, respectively. Vodafone Idea (63.1 crore shares), Jaiprakash Power Ventures (19.50 crore shares), and Reliance Power (18.8 crore shares) were the most active stocks in terms of volume on the NSE. HB Stockholdings, Indef Manufacturing, Airo Lam, Oriental Carbon & Chemicals, Wealth First Portfolio Managers and Somany Ceramics were among the 12 stocks that jumped over 15 per cent on the NSE. As many as 133 stocks, including Coffee Day Enterprises, Jaiprakash Associates, Somany Ceramics, Capri Global Capital and Reliance Infrastructure, hit their upper circuits in intraday trade on the NSE. On the other hand, 54 stocks, including Nirman Agri Genetics, Dynamic Services & Security, Power & Instrumentation (Gujarat), Best Agrolife and Grand Continent Hotels, hit their lower circuits. As many as 2,066 stocks advanced, while 904 declined and 85 remained unchanged on the NSE. As many as 178 stocks, including Bajaj Finance, AU Small Finance Bank, HDFC Asset Management Company, InterGlobe Aviation (IndiGo) and SRF, hit their 52-week highs in intraday trade on the BSE. On the flip side, United Drilling Tools, Uma Exports, Naksh Precious Metals, Gujarat Lease Financing and Axita Cotton were among the 43 stocks that hit their 52-week lows. Experts believe the Indian stock market could extend gains and the Nifty 50 could target 25,350 mark in days to come. "The Nifty has finally broken out of its prolonged consolidation on the daily timeframe. Market sentiment appears positive, with the index sustaining well above the crucial 50-day moving average (50DMA)," said Rupak De, Senior Technical Analyst at LKP Securities. According to De, a golden crossover on the daily chart has been supporting the bullish sentiment. Following the breakout, a rise towards 25,350 looks likely. "A decisive move above this level could trigger a rally towards 25,700. On the downside, support is placed at 24,850; a breach below this level may lead to a shift in sentiment," said De. Read all market-related news here Read more stories by Nishant Kumar
