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Mint
3 hours ago
- Mint
Week Ahead: Inflation data, US tariffs, FII flow, global cues among key triggers for Indian stock market
The Indian stock market consolidated for the third consecutive week, but also snapped a two-week losing streak, driven by favourable domestic cues, instilling fresh confidence among D-Street investors. This, despite the ongoing trade tensions and uncertainty surrounding tariff negotiations. Next, investors will monitor some key market triggers in the second week of June. India's retail inflation, global tariff announcements, foreign capital flow, macroeconomic data, and global market cues will dictate the market direction. Domestic equity benchmarks Sensex and Nifty 50 were range-bound for most of the week, but surged on Friday to settle near the week's high. Supportive domestic developments helped limit the downside, with the highlight being the Reserve Bank of India (RBI)'s monetary policy, which took the market by surprise. The RBI cut the repo rate by 50 basis points to 5.50 per cent—double the market expectation—and reduced the Cash Reserve Ratio (CRR) by 100 basis points to three per cent, the lowest level since April 2021, further boosting market sentiment. This liquidity boost is expected to lower the cost of funding for banks and spur credit growth, powering rate-sensitive stocks. On Friday, the Nifty 50 logged its best day in three weeks and rose 252 points, reclaiming the psychologically crucial 25,000-mark after investors rallied behind the RBI's bumper policy measures. Sensex added 738 points to end at 82,189, while both indices gained one per cent for the week. The Bank Nifty outperformed, rising 1.5 per cent to settle at 56,578.40 after hitting a fresh all-time high of 56,695, extending its winning streak to four consecutive weeks. In the broader markets, both midcap and smallcap indices outperformed the benchmarks, reflecting a risk-on sentiment among investors, with gains ranging between 2.8 per cent and four per cent. In the coming week, the primary market will witness more action, with some new initial public offerings (IPO) and listings slated across the mainboard and small and medium enterprises (SME) segments. The week will be critical from the domestic and technical points of view. Investors will track domestic macroeconomic data, geopolitical events, and sector-specfic outcomes. Going forward, market participants will focus on key macroeconomic data for further cues. High-frequency indicators such as the consumer price index (CPI) inflation data and the index of industrial production (IIP) will be closely tracked to gauge demand trends and the central bank's next steps. Additionally, the progress of the monsoon and sowing patterns will be monitored due to their implications for rural consumption. "By front-loading easing measures, the RBI has underscored its commitment to reviving domestic growth amid global uncertainties. While such a bold approach was expected to unfold gradually, this decisive action reinforces confidence in its intent to support economic recovery while managing inflation risks," said Ajit Mishra, – SVP, Research, Religare Broking Ltd. One mainboard IPO, Oswal Pumps IPO, will open for subscription this week, while three new SME issues will also open for bidding in the next five days. Among listings, no new IPO-concluded companies are scheduled to be debut on the stock exchanges in the coming week. Foreign Institutional Investors (FIIs) remained net sellers, offloading ₹ 3,565 crore in equities. However, strong domestic institutional flows offset the pressure, as domestic institutional investors (DIIs) infused ₹ 25,513 crore into the cash segment, providing solid support to the broader market. According to Ionic Wealth by domestic brokerage Angel One, FIIs hold 18.8 per cent of Indian equities, compared to 30 per cent in other emerging markets (EMs), offering 'significant room for capital infusion'. Chemicals, telecom, and financials are the sectors attracting FIIs, driven by strong structural themes like the China+1 strategy. India's unique mix of consumption-led growth, robust capex cycles, and high-return-on-equity companies makes it a strong investment case. On the global front, developments in trade negotiations and movements in US bond yields will continue to influence investor sentiment. Global uncertainties and tariff-related risks could keep markets on edge and add to market volatility. According to market analysts, profit booking was visible last week due to the ongoing global uncertainty. Mid- and small caps outperformed large caps, driven by better earnings and valuations. A mildly positive bias emerged from strong US job data and expectations of easing US-China trade tensions. "Benchmark indices attempted recovery after FIIs turned net buyers, encouraged by strong domestic economic indicators amidst a weakening dollar and US bond yields, fostering a 'buy-on-dip' strategy," said Vinod Nair of Geojit Investments. "While China's rare earth restrictions pose long-term risks and investors await the inflation print in the US, the aggressive RBI rate cut, backed by cooling inflation and a steady GDP outlook, is likely to support investor confidence amidst the ongoing global uncertainties," added Nair. Shares of Adani Ports & SEZ, Asian Paints, Adani Enterprises, Ambuja Cements, Adani Total Gas, Piramal Enterprises, among several others, will trade ex-dividend next week starting from Monday, June 2. Shares of some stocks will also trade ex-bonus and ex-split. Check full list here Technically, Nifty 50 has approached the upper band of its prevailing consolidation range of 24,500–25,100. 'A decisive breakout above 25,200 would mark the beginning of a fresh uptrend, with potential to gradually move toward the 25,600–25,800 zone,' said Ajit Mishra of Religare. On the downside, the 24,400–24,600 range is expected to act as a strong support zone during any corrective phase. Bank Nifty has broken above the key 56,000 mark after trading in a tight range for over a month. Mishra now expects it to move towards 58,000, making this segment crucial for broader market direction. In case of a dip, the 55,350–56,000 range is likely to provide strong support. For the market's trading strategy, Mishra maintains a positive outlook and suggests 'buy on dips' unless Nifty 50 decisively breaks below 24,600. However, he clarified that investors should remain selective and focus on fundamentally strong stocks in sectors such as banking, auto, and real estate, which are poised to benefit from lower interest rates. Other sectors may contribute on a rotational basis. Caution is warranted in areas facing margin pressures or global headwinds, such as FMCG and IT. Traders should remain agile and well-informed, especially in light of the macroeconomic data and persistent global uncertainties. Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.
Time of India
4 hours ago
- Time of India
Mangaluru man loses Rs 24 lakh in online investment scam
Mangaluru: A man allegedly lost Rs 24.2 lakh in an online investment scam. The complainant stated that in March last year, while browsing Instagram, he clicked on an advertisement link related to trading, which redirected him to a group called 'Fyers Market Discussion Group'. A person named Sharon Trivedi then added the complainant to a WhatsApp group and sent an application form encouraging him to invest in trading. After filling out the form and registering, Sharon sent a link for the complainant to download and install an app. Sharon Trivedi remained in constant contact and explained various attractive schemes, particularly about Institutional Stock and IPO Placement, urging the complainant to invest money. The app's customer support also instructed the complainant to deposit money and provided multiple bank account numbers and IFSC codes for the same. Similarly, through another Instagram advertisement, the complainant came across a different trading company. A person named Ishita Paul, using different WhatsApp numbers, provided information about trading and sent the complainant a website link. Following the instructions on the website, the complainant invested money and again received several bank account numbers and IFSC codes from the customer support team. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Between April 21, 2024, and May 31, 2025, the complainant transferred a total of Rs 24.2 lakh in multiple instalments via UPI, RTGS, and IMPS to various bank accounts provided by these unknown individuals. Although the fraudsters returned a small amount initially to gain trust, when the complainant asked for the remaining amount, he was asked to pay tax and commission. Despite paying these additional amounts, he was again asked to pay a 10% security deposit to withdraw the rest of the funds. This raised suspicion, and upon further inquiry, the complainant realised he had been cheated. The complainant waited in the hope of recovering the invested money, but, having received nothing, finally filed a complaint at police station. A case has been registered at CEN Crime police station.
Time of India
9 hours ago
- Time of India
This Bollywood couple now owns Vijay Mallya's iconic Kingfisher Villa in Goa. Here's why it is now called the King's Mansion
Once synonymous with Vijay Mallya 's high-flying lifestyle and extravagant soirées, the infamous Kingfisher Villa in Goa has quietly passed into the hands of a new set of power players—Bollywood actor Sachiin Joshi and his wife, former actress Urvashi Sharma. Now renamed King's Mansion , the opulent estate on the shores of Candolim has been reborn with a fresh identity, but not without its share of dramatic history and cinematic connections. The news comes in the wake of Royal Challengers Bangalore 's stunning 2025 IPL win—18 years after its founding—which brought Mallya back into public conversation. As congratulatory messages poured in for the embattled former tycoon, curious eyes turned once again to the symbols of his bygone empire. Chief among them was the palatial Kingfisher Villa, where champagne once flowed as freely as scandal. The King Who Lost His Castle Known as the "King of Good Times," Vijay Mallya was as much a fixture in India's business pages as he was in Page 3 party shots. But the empire began to crumble after his alleged ₹900 crore loan default involving IDBI Bank, among other financial irregularities. In 2016, as Indian agencies closed in, Mallya fled to the United Kingdom under the radar, leaving behind a slew of legal troubles—and the glittering Kingfisher Villa. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Business Sneaker Loved by CEOs and NFL Stars Wolf & Shepherd Shop Now Undo The estate, owned by United Breweries Holdings , was seized by a consortium of banks led by the State Bank of India to recover dues from Mallya. Despite three failed auctions, the fourth attempt in 2017 finally found a buyer in Sachiin Joshi, who acquired the property for ₹73.01 crore, just under the reduced reserve price. From Kingfisher to King's Mansion With a sprawling 12,350 square feet of built-up space on a three-acre plot, the villa has long been a symbol of indulgence. Private swimming pools, manicured lawns, open-air dance floors, artificial ponds, and once a fleet of luxury cars—it had it all. But what once echoed with the sounds of the city's elite now has a new voice. You Might Also Like: Kingfisher calendar helped Deepika Padukone, Katrina Kaif become Bollywood stars, says Vijay Mallya. What was the formula? View this post on Instagram A post shared by Urvashi Sharrma (@urvashiamrrahs) Sachiin Joshi, known for films like Azaan , Jackpot , and the Telugu remake of Aashiqui 2 , is not just a film actor. He is also a businessman and the son of Jagdish Joshi, head of the JMJ Group of Industries. Joshi himself owns Viiking Ventures, which deals in everything from alcohol (notably King's Beer ) to hospitality and wellness. The connection to the 'King' label was serendipitous, leading him to christen the villa as King's Mansion . 'For months now, I have been asked about my plans for the villa. Today is the day I open the gates to the world,' Joshi remarked at the time. 'The property has been coronated as the 'King's Mansion'… the brand connection from 'King's Beer' and the inherent grandeur of the property made the choice.' View this post on Instagram A post shared by Sachiin Joshi (@sachiinjjoshi) While Vijay Mallya remains in the UK, battling extradition and legal proceedings, the Candolim property marks one of the few tangible recoveries Indian banks have made in their pursuit of the fugitive billionaire's dues. It's ironic, almost poetic, that the villa now belongs to someone from the very world that once frequented its parties; Bollywood . You Might Also Like: Vijay Mallya's son Siddharth celebrates 6 years of alcohol-free life. What is the reason behind his no-drinking?
