Quick Wrap: Nifty Realty Index records a surge of 2.26%
Nifty Realty index ended up 2.26% at 933.2 today. The index has added 10.00% over last one month. Among the constituents, Raymond Ltd rose 4.99%, Phoenix Mills Ltd jumped 3.59% and Oberoi Realty Ltd added 3.48%. The Nifty Realty index has decreased 7.00% over last one year compared to the 10.86% spike in benchmark Nifty 50 index. In other indices, Nifty PSU Bank index increased 1.46% and Nifty IT index has slid 1.30% on the day. In broad markets, the Nifty 50 has declined 0.30% to close at 24945.45 while the SENSEX has slid 0.33% to close at 82059.42 today.
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The Print
5 hours ago
- The Print
Stock markets close higher on firm global trends, foreign fund inflows
In its sixth straight day of gains, the 50-share NSE Nifty ended 37.15 points or 0.15 per cent up at 25,141.40. The index moved between a low of 25,081.30 and a high of 25,222.40 during the day. In the six sessions to Wednesday, Nifty gained 598 points or 2.42 per cent. In a volatile session, the 30-share BSE Sensex rose by 123.42 points or 0.15 per cent to settle at 82,515.14. During the day, it climbed 391.79 points or 0.47 per cent to 82,783.50 , driven by gains in IT and energy shares. Mumbai, Jun 11 (PTI) Benchmark Sensex closed higher by 123 points while Nifty rose for a sixth consecutive day on Wednesday following a rally in global markets amid optimism over US-China trade talks and foreign fund inflows. After a flat start, the Nifty gradually moved higher in the first half and tested the resistance at 25,200, but failed to sustain the momentum at close, Ajit Mishra – SVP, Research, Religare Broking Ltd said. From the Sensex pack, HCL Tech, Infosys, Tech Mahindra, Reliance Industries, Bajaj Finserv, ICICI Bank, Tata Motors and Eternal were the lead gainers. Power Grid, Adani Ports, IndusInd Bank, Nestle, HDFC Bank and Hindustan Unilever were among the laggards. 'Profit-booking continues in the broader markets, driven by elevated domestic valuations. However, large-cap resilience is supporting the indices, with institutional investors favouring companies with stable earnings outlooks. 'Auto and IT sectors remain in focus – auto stocks are gaining on improved monthly sales, while IT shares are benefiting from optimism around a potential US-China trade resolution,' Vinod Nair, Head of Research, Geojit Investments Ltd, said. The BSE smallcap gauge went up by 0.06 per cent while midcap index dipped 0.12 per cent. 'Benchmarks ended with marginal gains on Wednesday extending their consolidation phase. Positive developments in US-China trade talks and a steady global equity environment helped buoy sentiment, though gains were tempered by profit-booking in certain sectors,' Satish Chandra Aluri, Analyst, Lemonn Markets Desk, said. Among sectoral indices, oil & gas surged the most by 1.83 per cent, followed by energy (1.33 per cent), BSE Focused IT (1.30 per cent), IT (1.25 per cent), teck (1.01 per cent), healthcare (0.74 per cent) and auto (0.19 per cent). Financial Services, FMCG, industrials, power, utilities, services, capital goods and bankex were among the laggards. As many as 2,227 stocks advanced while 1,821 declined and 132 remained unchanged on the BSE. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the positive territory. European equity markets were trading higher. US markets closed higher on Tuesday. Foreign Institutional Investors (FIIs) bought equities worth Rs 2,301.87 crore on Tuesday, according to exchange data. Global oil benchmark Brent crude climbed 0.43 per cent to USD 67.16 a barrel. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
5 hours ago
- Time of India
ET Market Watch: Sensex, Nifty edge up, IT stocks rally as trade talks fuel optimism
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Mint
7 hours ago
- Mint
NSE Nifty 50 reclaims 25,000, next hurdle at 25,300
The Nifty 50 index, which had been hovering just below the 25,000 mark, surpassed the key milestone on Wednesday and closed at 25,141—a level last seen on 14 October. Over the past three trading sessions, the index had been consolidating within a narrow range of 25,055 to 25,222, signalling a pause in momentum and a lack of clear conviction from both bulls and bears, according to market experts. Now that it has broken its consolidation phase, experts say the index is headed for an upward move. 'The consolidation suggests that the market is currently taking a breather after a recent rally, awaiting fresh triggers for the next leg of the move,' said Sudeep Shah, deputy vice president and head of technical & derivatives research at SBICAP Securities. The Relative Strength Index (RSI) on the daily timeframe is also showing signs of exhaustion, as it remains range-bound and lacks further upside traction, which indicates reduced strength in the short term, despite the index holding at higher levels, he said. Akshay Chinchalkar, head of research at Axis Securities, said that Nifty has essentially broken out of a bullish consolidation pattern, which targets 25,800. 'The view is supported by the more risky pockets–smallcaps and midcaps–outperforming, which is a sign of increased risk appetite from investors.' Chinchalkar said the US dollar, US interest rates and volatility are currently serving as tailwinds, further feeding into investor optimism that India-US trade negotiations will be struck without any downside surprises. The Nifty 50 index closed 0.15% up at 25,141.40 after touching an intraday high of 25,222.4 on Wednesday. Within the index, 28 stocks advanced, while 22 declined. Shah said that a breakout above the 25,222 level could reignite bullish momentum and pave the way for further gains towards 25,500 level, while a dip below 25,055 may lead to mild profit booking. The Nifty 50 index could head higher towards an immediate hurdle of 25,300 and then towards 25,500 in the coming weeks, said Bajaj Broking in a note. 'Dips in the coming sessions should be used as a buying opportunity with immediate short-term support placed at 24,900-25,000 levels being the recent breakout area.' The top sectoral gainers on Wednesday were the Nifty IT index (1.26%), Nifty Pharma index (0.5%) and the Nifty Energy index (0.3%).
