Quick Wrap: Nifty FMCG Index gains 1.63%
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Hans India
3 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.
Time of India
15 minutes ago
- Time of India
Stock market today: Nifty50 opens in green; BSE Sensex near 80,600
Analysts anticipate the market to remain range-bound, with domestic-facing themes expected to prevail. (AI image) Stock market today: Nifty50 and BSE Sensex , the Indian equity benchmark indices, opened in green on Thursday. While Nifty50 was above 24,600, BSE Sensex was near 80,600. At 9:33 AM, Nifty50 was trading at 24,619.65, up marginally. BSE Sensex was at 80,589.58, up 50 points or 0.062%. Analysts anticipate the market to remain range-bound, with domestic-facing themes expected to prevail amid caution over US tariffs and the forthcoming US-Russia peace talks scheduled for Friday. Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited said, 'The market will be in a wait and watch mode looking for clues from the Trump-Putin summit and PM Modi's Independence Day message. From the technical perspective, the market is oversold and short-positions are high. Any positive news which triggers short covering can lead to a rally. We will have to wait and watch.' 'Fundamentally strong banking stocks have drifted down in the last one month while mid and smallcaps with elevated valuations continue to remain resilient. This a liquidity driven short-term aberration. Long-term investors can exploit this value discrepancy by moving away from highly valued mid and smallcaps to the safety of high quality largecaps." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Your Finger Shape Says a Lot About Your Personality, Read Now Tips and Tricks Undo US equity indices edged higher on Wednesday, extending a global rally driven by expectations of lower interest rates. The S&P 500 gained 0.3% to reach another record high, the Dow Jones surged 463 points (1%), and the Nasdaq inched up 0.1% to a fresh peak. Asian stocks trading within a narrow range at Thursday's open, easing after three days of gains propelled by bets on a Federal Reserve rate cut next month. Oil prices increased on Thursday, recovering after a decline in the previous session. The upcoming meeting between US President Donald Trump and Russian President Vladimir Putin has heightened market risk premiums. Foreign portfolio investors sold shares worth Rs 3,644 crore on Wednesday, while domestic institutional investors were net buyers, purchasing shares worth Rs 5,624 crore. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Economic Times
31 minutes 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
