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Time of India
4 hours ago
- Time of India
Four arrested for multi-lakh online investment scams
Chennai: Four men involved in large-scale investment frauds were arrested by the cyber crime police across various zones in Chennai. The north zone police arrested two men based on a complaint from Nandagopal, 38, of Korukkupet. He said that after responding to an Instagram ad, he was contacted via Telegram by a user who promised high returns on dollar investments through an e-venture. He transferred Rs 12 lakh to different accounts. When asked to pay an additional Rs 7 lakh to retrieve his investment, he realised it was a scam. Two suspects—Sitharaman, 37, and Senthilnathan, 28, from Cuddalore—were arrested. Meanwhile, west zone police arrested a man based on a complaint from Saravanan, 43, of Arumbakkam. A Facebook contact convinced him to invest in stock trading, promising high returns. He invested Rs 10 lakh in 14 transactions but was defrauded after the suspect took the money. The accused Renganathan, 26, from Srivaikundam, Thoothukudi district, was arrested. Also, the east zone police arrested one person based on a complaint from Rabbani Khan, 26, who said he was cheated of Rs 9.40 lakh in a crypto ad scam.


Hans India
5 hours ago
- Hans India
Nifty eyes breakout as bulls push index to day's high; Key Resistance at 24,850
Keywords: Rewritten News Story: Trade Setup for June 5: Nifty Bulls Look to Break Out of Narrow Trading Band The Nifty ended 78 points higher on June 4, 2025, closing at 24,620 and marking the day's high—an encouraging sign for bulls looking to break out of the index's tightest trading range in the last 17 sessions. Despite slipping below its 20-day EMA for the second consecutive day, the Nifty managed to stay above the key swing low of 24,462 from May 22. The session saw a late surge in buying momentum, pulling the index higher. While most of the day remained range-bound, positive cues across sectors helped support the gains. Notably, all sectoral indices ended in the green except for Realty, with Oil & Gas, Metals, and IT stocks leading the rally. Among top Nifty performers were Eternal, Jio Financial, and IndusInd Bank, while Bajaj Finserv, Trent, and Eicher Motors weighed on the index. The broader markets outperformed, with the Nifty Midcap 100 gaining 0.71% and the Smallcap 100 up 0.79%. Quick-service restaurant (QSR) stocks were also in focus—Swiggy surged 9% and Eternal climbed over 3%—amid reports that Zepto may defer its IPO to 2026. Zepto later clarified it still plans to file its DRHP in 2025. HDFC Bank gained 1% following SEBI's approval of a ₹12,500 crore IPO for its subsidiary HDB Financial Services. On the institutional front, FIIs ended May with net inflows of ₹11,773 crore—their highest monthly buying since September 2024. However, selling resumed over the last two days, totaling more than ₹5,000 crore. Meanwhile, domestic institutions stepped in, driving large block trades worth ₹3,480 crore. Market analysts expect consolidation to continue. Siddhartha Khemka of Motilal Oswal highlighted that global trends and macro indicators will drive sentiment, with stock-specific movement prevailing. HDFC Securities' Nagaraj Shetti noted that while the trend remains choppy, a move above 24,850 could revive bullish momentum. On the downside, 24,500 remains key support. Rupak De of LKP Securities pointed out a bearish RSI crossover, signaling caution. 'We could see sideways movement until Friday's announcements. A break below 24,500 may trigger further weakness, while resistance lies at 24,750–24,900.' Nandish Shah, also of HDFC Securities, echoed the same, suggesting 24,845 as a near-term resistance level with 24,500 offering strong downside support.


Economic Times
6 hours ago
- Economic Times
Two Trades for Today: Two railways stocks, one for an over 8% surge, and another for almost 7% upmove
The markets had a range-bound session wherein it gradually trended higher to end Wednesday day with modest gains. The Nifty saw a positive start to the day; it formed its low point in the first hour of the session. After that, though the Nifty remained on a mildly rising trajectory, it remained largely range-bound. While maintaining modest gains, the headline index closed with a gain of 77.70 points (+0.32%).The railway stocks have formed a FONT SIZE SAVE PRINT COMMENT