Dalal Street ignores Iran-Israel conflict, sensex up 678 points
D-Street ignores Iran-Israel conflict, sensex up 678 pts
MUMBAI: Investors on Dalal Street ignored global geopolitical tensions with the Sensex, after a marginally negative start on Monday, rallied through the session to close 678 points (0.8 per cent) higher at 81,796 points.
HDFC Bank
,
ICICI Bank
and
Infosys
contributed the most to the day's gain. A slight dip in crude oil prices also helped the stock market rally, traders said.
On the NSE, Nifty too rallied strongly and closed 228 points (0.9 per cent) up at 24,947 points. "Despite ongoing geopolitical tensions between Israel and Iran, the (domestic) market moved higher, supported by gains in large-cap stocks, as investors maintained their focus on long-term fundamentals in the time of volatile situations," said Vinod Nair of Geojit Investments.
Geopolitical developments in West Asia are likely to influence near-term market sentiment, with any signs of de-escalation being closely monitored, Nair added.
Foreign funds, however, remained net sellers on Monday with a net outflow of Rs 2,539 crore. In contrast, domestic funds net pumped in Rs 5,781 crore, BSE data showed.
The day's session made investors richer by about Rs 3.3 lakh crore with BSE's market capitalisation now up at Rs 450.5 lakh crore.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Perdagangkan CFD Emas dengan Broker Tepercaya
IC Markets
Mendaftar
Undo
For Tuesday, there is a possibility of a rally in the stock market, on the back of Monday late evening reports that Iran had approached some Gulf nations to negotiate a US-mediated ceasefire with Israel. The news sparked a rally in the US market with all the leading indices up more than 1 per cent each in mid-session Monday. Gold prices, meanwhile, slid nearly 1 per cent in the international market on news of a likely ceasefire.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
United News of India
14 minutes ago
- United News of India
Sensex falls by 163.63 points
Mumbai, June 17 (UNI) The BSE Sensex on Tuesday fell by 163.63 point to 81,632.52 in early trade tracking negative cues from Global peers. The Nifty too declined by 59.20 pts to 24,887.30. Sensex registered intra-day highs and lows at 81,890.15 and 81,574.14, respectively. The Nifty registered a day's high at 24,982.50 and a low at 24,867.95 pts. Midcap advanced by 16.01 points, and small cap fell by 33.69 pts. Sectoral gainers were energy by 0.10 pc, FMCG by 0.05 pc, financial by 0.12, industrial by 0.19 pc, IT by 0.10 pc, Telecom by 0.44 pc, Utilities by 0.17 pc , Bankex by 0.20 pc, Capital goods by 0.11 pc, Power by 0.29 pc, Realty by 0.73 pc and Teck by 0.15 pc. Sectoral losers were Health Care by 0.07 pc, Auto by 0.10 pc, Consumer Durables by 0.09 pc, Metal by 0.04 pc, Oil & Gas by 0.01 and Services by 0.13 pc. Sensex losers are Tata Motors by 1.33 pc to Rs 677.55, Sun Pharma by 1.09 pc to Rs 1,667.25, Indus Bank by 1.01 pc to Rs 812.80, Ultra tech by 0.90 pc to Rs 11,392.10 and Titan by 0.79 pc to Rs 3,411.25. Sensex gainers were NTPC by 0.61 pc to Rs 335.80, Kotak Bank by 0.61 pc to Rs 2,151.40, Axis Bank by 0.57 pc to Rs 1,222,60, Power grid by 0.49 pc to Rs 290.05, HCC tech by 0.24 pc to Rs 1,727.15. UNI JS ARN
Time of India
15 minutes ago
- Time of India
Commodity Radar: Gold faces caution ahead of Fed meet, but bullish trend intact. Key entry levels to watch
Gold prices experienced a slight dip in early trading on Tuesday, influenced by investor caution ahead of the Federal Open Market Committee meeting. Domestic prices mirrored this international trend, with profit booking occurring after a significant rally. Geopolitical tensions, particularly between Israel and Iran, alongside tariff concerns, are expected to fuel an uptrend. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tech view: 5 things investors should track Tired of too many ads? Remove Ads Gold trading strategy Gold traded with a negative bias in Tuesday's early trade as the traders were cautious ahead of the two-day Federal Open Market Committee Meeting (FOMC), which begins today. The domestic prices mirrored international trends, with some profit booking seen after a strong rally that pushed the yellow metal above the Rs 1 lakh mark on the 9:30 am, the August gold futures were trading at Rs 98,869, falling Rs 309 or 0.31%. Meanwhile, prices on the COMEX were hovering around $3,402.90 per troy ounce, down $14.40, or 0.42%.The dollar index (DXY) was trading above 98, up 0.13% against a basket of six major currencies. As the movement on DXY is typically inverse to the gold price , a 1% drop gave a fresh momentum to the and tariffs will continue to fuel the uptrend, according to Jateen Trivedi, Vice President - Commodity Research at LKP Securities , and gold's haven appeal will likely take a northward trajectory amid growing tensions between Israel and Iran. Moreover, the tariffs remain a big conundrum as we are weeks behind the July economic data from the US and India will remain the catalyst. The Street will be watching the developments around the Federal Reserve's FOMC meeting , which begins today. The Central Bank will announce its policy decisions on Wednesday. "Any dovish or hawkish surprises can swing gold decisively," Jateen Trivedi India's WPI Inflation (MoM) adds to domestic sentiment and price correlation with said that the rupee weakness, driven by geopolitical uncertainty, is keeping portfolios cautious and he believes that INR could further depreciate, triggering capital outflows and adding to domestic gold demand as a hedge.1) Key Support & Resistance: Gold continues its ascent, recently reaching Rs 1,01,078 with a close near Rs 1,00,305. The recent break above Rs 98,900–Rs 99,000 confirms bullish Levels:-- Rs 99,000 – prior resistance turned near-term support-- Rs 97,000 – secondary support aligning with the 21 EMA-- Rs 93,200 – long-term base, unlikely to be tested unless there's a steep correctionResistance Levels:-- Rs 1,01,300–Rs 1,01,500 – upper zone poised as target-- Rs 1,02,500 – near convergence of upper Bollinger band and historical highsA sustained run above Rs 1,01,500 could pave the way towards Rs 1,02,500+, while a dip below Rs 99,000 would signal short-term weakness.2) RSI (14) at 65.53 – bullish momentum with room to runRSI reads 65.5, comfortably below overbought territory, reflecting strong upward momentum but keeping further upside possible before fatigue sets in.3) Bollinger bands: Gold is riding near the upper Bollinger band, indicating a strong uptrend. With band width expanding, this suggests continuation of the bullish impulse rather than an imminent reversal.4. Moving averages: EMA 8 & EMA 21 show a steady bullish structure-- EMA 8 (red): Rs 99,500-- EMA 21 (yellow): Rs 98,600The price remains well above both EMAs, underscoring a solid upward trend. The current positioning reinforces a buy-on-dips bias.5) MACD: Although the MACD isn't displayed in the chart, prior readings indicated a strong bullish crossover. With the recent rally and rising momentum, the MACD remains firmly above the signal line, supporting further price the dips near Rs 99,000. Gold remains bullish as long as the Rs 99,000–Rs 99,500 zone holds.-- Entry strategy: Buy on dips around Rs 99,000–Rs 99,500-- Stop Loss: Rs 97,000 on closing basis-- Targets: Rs 1,01,500–Rs 1,02,500-- Next target: Rs 1,03,500 if geopolitical tensions persist(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Mint
17 minutes ago
- Mint
Banks pull Australian shares lower; investors weigh Middle East risks
Investors closely watch Israel-Iran conflict Banks down on profit taking Fed decision due on Wednesday June 17 (Reuters) - Australian shares inched lower on Tuesday, with weakness in the heavyweight financial sector outweighing gains in technology and gold stocks, while investors remained wary as Israel and Iran attacked each other for a fifth straight day. The S&P/ASX 200 index ended 0.1% lower at 8,541.30 after settling flat in the previous session. Iran urged allies to press U.S. President Donald Trump for an Israeli ceasefire, raising hopes of a de-escalation, Reuters reported on Monday. However, Trump's abrupt G7 exit and call to evacuate Tehran fuelled fears of an escalation. "We are getting some mixed signals about whether things are escalating or de-escalating between Israel and Iran, which is leading to hesitancy from traders on the ASX today," said Tim Waterer, chief market analyst at KCM Trade. Heavyweight financial stocks fell 0.3%, with the country's 'big four' banks slipping between 0.3% and 0.7%. Waterer said that investors seem comfortable taking profits after a strong rally in financial stocks. Gold stocks gained 1% as bullion's safe-haven demand was boosted by heightened geopolitical uncertainty. Technology stocks were up 0.2%, tracking gains in Wall Street peers overnight, with sector majors Xero and WiseTech Global rising 0.4% and 0.5%, respectively. Uranium stocks surged, extending gains from Monday, with miners Boss Energy and Deep Yellow advancing as much as 7% and 10%, respectively, to hit their highest levels since June last year. Tony Sycamore, a market analyst at IG Australia, attributed the gains to the news that Sprott Physical Uranium Trust, the world's largest fund holding physical uranium, was set to double its capital raising to $200 million to buy more uranium on the spot market. Separately, investors awaited the Federal Reserve's monetary policy decision on Wednesday, where it is expected to hold rates steady. New Zealand's benchmark S&P/NZX 50 index fell 0.4% to finish the session at 12,639.35 points. (Reporting by Adwitiya Srivastava in Bengaluru; Editing by Mrigank Dhaniwala)
