Asian stocks advance on trade talks, US jobs data
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Mint
43 minutes ago
- Mint
Stock market outlook: Nifty 50 likely to touch 25,500 in coming weeks amid bullish trend — key levels to watch
Stock market today: Indian benchmark indices, Sensex and Nifty, extended their gains for the fourth straight session on Monday, buoyed by robust U.S. employment data, positive developments in India-U.S. trade negotiations, and supportive measures from the Reserve Bank of India. At around 9:19 am, the BSE Sensex advanced 423 points (0.52%) to reach 82,618, while the Nifty50 increased by 130 points (0.52%) to 24,132. Meanwhile, Nifty Bank climbed more than 0.4% to reach an all-time high of 57,049, supported by strong performances from Kotak Bank, IDFC First Bank, Canara Bank, and PNB. On Friday, both indices climbed by almost 1% following the RBI's unexpected move to cut the repo rate by 50 basis points and lower the cash reserve ratio (CRR) for banks by 100 basis points, indicating a more aggressive monetary effort to boost economic growth. "The Nifty ended above 25000 on Friday, as sentiment was boosted by RBI's actions that included a larger-than-expected 50 bps cut to the repo rate and a 100 bps cut to the cash reserve ratio (CRR). Technically speaking, Friday's jump was able to negate the prior day's somewhat "weak" close, and earlier, the test of 24672, which we had mentioned, held successfully. Getting past 25116 is the only thing that bulls need to do from hereon, and a break of 25260 will open the doors toward 25800 based on the pennant that seems to be complete. For the day, resistance and support lie at 25120 and 24820 respectively. Asian equities are a tailwind for today," said Akshay Chinchalkar, Head of Research, Axis Securities. The Nifty 50 closed at 25,003.05, registering a 1.02% gain over the previous week close. The weekly chart reflects a sideways-to-bullish setup, as the index managed to close above the key psychological level of 25,000, indicating a potentially bullish outlook in the near term, according to Choice Broking. 'In terms of levels, Nifty has immediate support at 25,000 and 24,800, which could offer strong buying opportunities for traders on dips. Resistance is expected at 25,100 and 25,300, with the latter acting as a key hurdle. A sustained breakout above 25,300 could trigger a bullish rally, targeting 25,500 and 25,700 in the coming weeks,' said the firm in a note. Bias: Sideways to Bullish The Bank Nifty index closed at 56,578.40, near record high levels, registering a 1.49% gain over the previous week's close. The weekly chart indicates buying from lower levels, and notably, the index has managed to sustain above the 56,500 mark. This buying interest suggests a potential continuation of bullish sentiment, with strong demand emerging on dips, indicating a sideways to bullish phase in the near term, according to the brokerage firm. ' The Bank Nifty index is likely to face significant resistance in the 57,000–57,500 range. If the index continues to move higher, HDFCBANK & AXISBANK from the private banking sector is expected to support the uptrend. Similarly, in the public sector banking space, SBIN is anticipated to show strength,' the firm said. Bias- Sideways to Bullish Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
an hour ago
- Time of India
How to save tax on your Bitcoin investments in India, legally!
A way through the harsh tax reality of Bitcoin trading in India: Live Events Bitcoin ETFs: The Smart, Tax-Optimized, Regulated Choice Why do we look at Bitcoin as a risky alternative? Bitcoin ETF: The smarter choice for you! (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Indian investors have enjoyed massive gains in Bitcoin , up by over 123% in the past year and currently trading at near ₹1 crore, yet they're burdened by a harsh tax regime. A 30% flat tax, 1% TDS on each trade, and a blanket disallowance of loss set-off have made direct crypto investing punitive and this, there is always a way through the tedious tax regime: there is a smarter, tax-efficient and legal way to invest in current Indian tax rules, profits from Bitcoin trading are taxed at a flat 30% rate, plus a surcharge and a 4% cess. Every trade is subject to 1% TDS, irrespective of profit or loss. Worse still, losses can't be set off against any income, not even other crypto gains, and cannot be carried forward to future tax is one even supposed to make a profit under this regime? This makes us feel like it's less of a tax law and more like a daylight robbery. This means even a prudent, long-term investor is treated like a high-frequency gambler. No tax efficiency, no loss planning, and no differentiation between long-term holding and speculative legal and strategic alternative? Bitcoin ETFs. These are listed exchange-traded funds that track Bitcoin's price but are treated differently under Indian tax direct investments in Bitcoin, which are classified as Virtual Digital Assets (VDAs), Bitcoin ETFs, structured as units of foreign mutual funds, enjoy a favourable classification. If held for over 24 months, gains are taxed as long-term capital gains at just 12.5%, far more investor-friendly than the 30% on VDAs. If sold earlier, short-term gains are taxed at your regular income huge advantage: no 1% TDS. Bitcoin ETF transactions don't suffer from liquidity erosion like direct crypto trades do. Plus, losses from ETF investments can be set off against other capital gains and can also be carried forward to future years, something completely disallowed in direct Bitcoin investing under the current VDA regime as of now. For HNIs and serious investors, this structure can mean up to 60% in tax savings while keeping investments regulated and some platforms offer INR-settled Bitcoin futures, these instruments often operate in regulatory grey zones. They fall outside India's VDA definition but remain unregulated by SEBI, with no investor protection or the collapse of exchanges like Vauld and the ongoing restructuring of WazirX, both Indian exchanges now in Singapore courts, highlight the dangers of trusting unregulated platforms. WazirX's alleged claim that ₹5,000 crore of investor funds are actually company-owned while shielding itself under Singapore law shows how Indian investors are left with no local these platforms pose full counterparty risk. Unlike NSE/BSE derivatives offerings, which have clearing corporations and capital adequacy rules, crypto futures platforms rely entirely on internal solvency, thereby remaining unchecked, unaudited, and the supposed tax advantage is unreliable. Frequent crypto futures trading can attract business income classification, leading to the applicability of a significant compliance short, Bitcoin futures may offer a loophole, but they come at the cost of investor safety, regulatory compliance, and long-term viability. Bitcoin ETFs are unquestionably the better option for traders to invest in, while Bitcoin still carries remaining Indian investors looking to grow their wealth in a compliant, tax-efficient, and secure manner, Bitcoin ETFs offer the ideal solution. They combine the upside of digital assets with the structure and investor protections of traditional finance. Compared to direct crypto trading, Bitcoin ETFs allow investors to save up to 60% in taxes, avoid the 1% TDS, and claim loss set-off and carry-forward, benefits denied under the current VDA tax are platforms through which, Indian investors can now access US-listed Bitcoin ETFs via regulated brokers and GIFT City-compliant structures. In an environment of tightening regulations and ongoing failures of unregulated platforms, ETFs are not just a safer route; they're the only logical path forward.(The article is written by Srinivas L., CEO of 9Point Capital.): Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Business Standard
an hour ago
- Business Standard
Railtel shares gain 3% on bagging multiple orders; Check all details here
Railtel Corporation share price gained 2.7 per cent in trade on Monday, June 9, 2025, logging a day's high at ₹456.15 per share on BSE. The buying on the counter came after the company bagged multiple orders. At 10:10 AM, Railtel shares were trading 1.28 per cent higher at ₹449.8 per share on the BSE. In comparison, the BSE Sensex was up 0.38 per cent at 82,503.23. The company's market capitalisation stood at ₹14,435.81 crore. Its 52-week high was at ₹618 per share and 52-week low was at 265.3 per share. In the past one year, Railtel shares have gained 16 per cent as compared to Sensex's rise of around 7 per cent. Railtel order wins The company, on Saturday, informed investors that it has received two orders. One order from State Project Director (Spd) Bihar Education Project Council (Bepc) worth around ₹243 crore. Under the contract, the company will supply, a student kit for the students of class 1 to class 12 at government schools in Bihar. "This is to inform that RailTel Corporation of India Ltd. ("the Company") has received the work order from the State Project Director (Spd) Bihar Education Project Council (Bepc) for Supply amounting to ₹2,43,11,35,577 (Including Tax)," the filing read. Another filing informed that the company has received the work order from Department Of Education Samagra Shiksha amounting to ₹15 crore. Under the contract, the company will supply UPS and printers to 5507 GPS across Himachal Pradesh. "This is to inform that RailTel Corporation of India Ltd. ("the Company") has received the work order from the Department Of Education Samagra Shiksha for Supply amounting to ₹15,96,54,450 (Including Tax)," the filing read. About Railtel Corporation RailTel Corporation of India Ltd. is a public sector enterprise under the Ministry of Railways. It operates a nationwide broadband, telecom, and multimedia network, and provides connectivity and ICT services across India. In addition to its telecom operations, RailTel is involved in the modernization of railway operations and administrative network systems. The company manages a high-capacity pan-India network and supports various digital infrastructure initiatives.
