Fusion Finance to bet on MSMEs, expects better show in Q3
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Hans India
33 minutes ago
- Hans India
Nifty, Sensex open flat; IT, pharma stocks rally
Mumbai: The Indian benchmark indices opened flat on Thursday, as IT and pharma stocks showed considerable gains. The BSE Sensex advanced 0.15 per cent to 80,657 points. The Nifty 50 inched up to 24,638, up 21 points or 0.08 per cent. Among the broader market indices BSE SmallCap added 0.12 per cent and the BSE MidCap climbed 0.30 per cent. Sectorally, Nifty Metal lost 1.05 per cent while Nifty IT and Nifty Pharma surged 0.76 per cent and 0.93 per cent, respectively. The majority of other indices were mixed. In the Nifty pack, Infosys led the gainers, surging 1.29 per cent, followed by HDFC Life, Wipro, Adani Ports, and Apollo Hospitals. Among laggards, Tata Steel declined 1.22 per cent, followed by ONGC, Kotak Mahindra Bank and Hindalco. The market will be in a wait-and-watch mode looking for clues from the Donald Trump-Vladimir Putin summit and Prime Minister Narendra Modi's Independence Day message, said analysts. From the technical perspective, the market is oversold, and short-positions are high. Any positive news that triggers short covering can lead to a rally, said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd. "On the downside, immediate support for Nifty is placed at 24,500, followed by the 24,400–24,300 zone. As long as the index manages to hold above these support levels, extended selling pressure is unlikely. On the upside, 24,700 will act as the immediate resistance," added Hardik Matalia from Choice Broking. India's inflation rate based on CPI eased further to 1.55 per cent in July this year amid a decline in food prices. This is the lowest level of year-on-year retail inflation since June 2017. Despite uncertainties around Trump's trade stance and global risks, India's growth-inflation dynamics remain favourable for FY26, with a marginal downgrade based on tariff updates. Asia-Pacific markets traded mixed as investors bet on a rate cut by the US Federal Reserve next month. US markets ended higher overnight, as the Dow Jones rose 1.04 per cent, the S&P 500 gained 0.32 per cent, and the Nasdaq Composite edged up 0.14 per cent. Asian markets traded mixed. Japan's Nikkei fell 1.36 per cent after hitting fresh highs yesterday. The Shanghai Composite added 0.2 per cent, while the Shenzhen Component eased 0.15 per cent. Hong Kong's Hang Seng dipped 0.09 per cent, and South Korea's Kospi declined 0.28 per cent. On Wednesday, foreign institutional investors (FIIs) extended their selling streak, offloading equities worth Rs 3,644 crore, while domestic institutional investors (DIIs) were net buyers, purchasing equities worth Rs 5,623 crore.
Economic Times
an hour ago
- Economic Times
Vodafone shares in focus today ahead of Q1 results. Here's what to expect
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Hans India
an hour ago
- Hans India
Easing inflation renews buying on bourses
Mumbai: Stock markets rebounded on Wednesday with benchmark Sensex closing higher by 304 points on buying in metal, auto and pharma shares as steady US inflation data propelled a sharp rally in global markets. The 30-share BSE Sensex climbed 304.32 points or 0.38 per cent to settle at 80,539.91. During the day, it jumped 448.15 points or 0.55 per cent to 80,683.74. The 50-share NSE Nifty edged up by 131.95 points or 0.54 per cent to 24,619.35. Analysts said retail inflation slowing to an 8-year low of 1.55 per cent in July led to the positive trend in domestic equities. 'Indian equities experienced a broad-based optimism as CPI hit an eight-year low, boosting hopes for a revival in discretionary spending, led by autos and metals. Globally, sentiment improved on the extension of China's tariff deadline and easing oil prices. 'Despite uncertainties around Trump's trade stance and global risks, India's growth-inflation dynamics remain favourable for FY26 with risk to marginal downgrade based on tariff updates. India looks forward to the Trump-Putin meet dated 15th August,' Vinod Nair, Head of Research, Geojit Investments Limited, said. Among Sensex firms, Bharat Electronics, Eternal, Mahindra & Mahindra, Kotak Mahindra Bank, Tata Motors and Power Grid were the gainers. However, Adani Ports, ITC, UltraTech Cement and Titan were among the laggards.
