Indices: Stock market update: Nifty Bank index advances 0.23%
Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
The Nifty Bank index closed 0.23 per cent up at 55546.05.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
NEW DELHI: The Nifty Bank index closed on a positive note on Thursday.Shares of IndusInd Bank Ltd.(up 2.36 per cent), Axis Bank Ltd.(up 0.59 per cent), Kotak Mahindra Bank Ltd.(up 0.36 per cent), HDFC Bank Ltd.(up 0.21 per cent) and ICICI Bank Ltd.(up 0.19 per cent) ended the day as top gainers in the pack.On the other hand, Au Small Finance Bank Ltd.(down 1.17 per cent), Federal Bank Ltd.(down 0.27 per cent), Canara Bank(down 0.19 per cent) and IDFC First Bank Ltd.(down 0.14 per cent) finished as the top losers of the day.The Nifty Bank index closed 0.23 per cent up at 55546.05.Benchmark NSE Nifty50 index ended up 81.15 points at 24833.6, while the BSE Sensex stood up 320.7 points at 81633.02.Among the 50 stocks in the Nifty index, 37 ended in the green, while 13 closed in the red.Shares of Vodafone Idea, MMTC, IFCI, Reliance Power and Suzlon Energy were among the most traded shares on the NSE.Shares of IFB Agro, Quality Power Electr, Pil Italica Lifestyle, Shree Global and Welspun Corp hit their fresh 52-week highs in today's trade, while Lasa Supergenerics, Bharat Rasayan, Navkar Builders, California Soft(PP)and Borana Weaves hit their fresh 52-week lows.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
3 hours ago
- Business Standard
Benchmarks extend losses for third session in a row; Sensex down 636.24 pts
Equity benchmark indices Sensex and Nifty tumbled nearly 1 per cent on Tuesday, weighed down by a widespread selloff amid foreign fund outflows and growing geopolitical uncertainties. Domestic markets fell for the third straight session as investors offloaded energy, finance, and IT stocks, traders said. In a volatile trading session, the 30-share BSE index dipped 636.24 points or 0.78 per cent to settle at 80,737.51. The NSE Nifty plunged 174.1 points or 0.7 per cent to settle at 24,542.50. As many as 2,266 stocks declined, while 1,731 advanced and 147 remained unchanged on the BSE. On Tuesday, Foreign Portfolio Investors (FPIs) were the net sellers to the tune of ₹2,854 crore, while domestic institutional investors (DIIs) bought shares worth ₹5,908 crore. FPIs turned net sellers in June after making their largest net purchase of ₹19,860 crore in May, the highest in eight months. ICICI Bank and HDFC Bank were the biggest contributors to the Sensex decline, falling 0.9 per cent and 0.4 per cent respectively. Both stocks have significant FPI ownership. The FPI selling came as the OECD slashed its global economic growth forecasts for the second time this year, citing US trade policies. The Paris-based organisation stated that trade barriers are eroding confidence, hindering investments, and exacerbating inflationary pressures. Adani stocks decline Shares of Adani group companies declined following a news report alleging that US prosecutors were investigating whether Adani entities had imported Iranian LPG into India via their Mundra port. The report highlighted that tankers travelling between the Gulf and Mundra port allegedly exhibited traits common to ships evading sanctions. The US Justice Department was reportedly reviewing the activities of several LPG tankers used to ship cargoes to Adani Enterprises. The Adani group dismissed the report as baseless and mischievous, stating they were unaware of any investigation by US authorities. Adani Ports saw the largest decline among Adani stocks, falling 2.4 per cent. 'Optimism over a potential RBI rate cut was offset by global concerns around trade tariffs and rising geopolitical tensions. Attention is likely to shift towards monsoon-linked themes and interest rate-sensitive sectors, such as PSU banks and real estate, amid hopes that monetary easing will support economic momentum. With the Q4 earnings season largely behind us, markets are expected to remain in a consolidation phase as participants shift focus to key macro trends and global cues,' said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services. Twelve of the thirteen major sectors logged losses. 'The domestic market remained in negative territory amid mixed global cues, geopolitical issues, and a volatile currency market led by a weak US dollar. Profit booking was evident across sectors, except for real estate stocks, which were supported by expectations of an interest rate cut by the RBI," said Vinod Nair, head of research, Geojit Financial Services. "Mid- and small-cap stocks are experiencing relatively less consolidation than large caps due to better earnings growth and moderation in premium valuation. While short-term consolidation is likely to persist, strong domestic-oriented players are estimated to outperform against external volatility,' Nair added.
The Print
5 hours ago
- The Print
Adani Group stocks decline; Adani Ports fall over 2 pc
In a stock exchange filing, the group said reports of links between any of its entities and Iranian LPG are 'baseless and mischievous'. Adani Group on Monday said it does not handle any cargo coming from Iran or any Iranian-owned ship at any of its ports, as it denied any deliberate engagement in sanctions evasion. New Delhi, Jun 3 (PTI) Adani Group stocks ended lower on Tuesday, with Adani Ports, NDTV and Adani Energy falling over 2 per cent each. The filing was in response to a Wall Street Journal (WSJ) report that said US prosecutors were investigating if Adani group companies imported Iranian LPG into India through their Mundra port in Gujarat. Shares of Adani Ports dropped 2.42 per cent, NDTV fell by 2.25 per cent, Adani Energy Solutions declined 2.18 per cent, Adani Power skidded 2.02 per cent and Adani Enterprises went lower by 1.89 per cent on the BSE. The stocks of Adani Total Gas edged lower by 1.62 per cent, Adani Green slipped 1.58 per cent, Sanghi Industries Ltd (1.16 per cent), Ambuja Cements (0.88 per cent), ACC (0.22 per cent) and AWL Agri Business (0.06 per cent). In intra-day trade, NDTV tanked 4.92 per cent, Sanghi Industries dropped 3.44 per cent, Adani Ports fell by 2.77 per cent, Adani Power lost 2.69 per cent, Adani Enterprises went lower by 2.63 per cent, Adani Energy (2.35 per cent), Adani Total (2.10 per cent), Adani Green (2 per cent), Ambuja Cements (1.21 per cent), AWL Agri (1.14 per cent) and ACC (0.62 per cent). In the equity market, the 30-share BSE Sensex tanked 636.24 points or 0.78 per cent to settle at 80,737.51. The NSE Nifty plunged 174.10 points or 0.70 per cent to 24,542.50. 'By policy, the Adani Group does not handle any cargo from Iran at any of our ports. This includes any shipments originating from Iran or any vessels operating under the Iranian flag,' the conglomerate said in the filing. It went on to state that the group 'does not manage or facilitate any ships whose owners are Iranian. This policy is strictly adhered to across all our ports'. The WSJ report claimed that its investigation had found tankers travelling between Mundra and the Persian Gulf exhibited traits experts say are common for ships evading sanctions. Purchase of Iranian oil or products is sanctioned over Tehran's suspected nuclear programme. Calling the report 'baseless and mischievous', the Adani group said it 'categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG'. It went on to add that it was 'not aware of any investigation by US authorities on this subject'. The report, it said, 'appears to be based entirely on incorrect assumptions and speculation'. PTI SUM DR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Print
5 hours ago
- The Print
Markets extend losses for 3rd session amid broad-based selloff; Sensex slips below 81k
In a volatile trading session, the 30-share BSE index tanked 636.24 points or 0.78 per cent to settle at 80,737.51. During the day, it dropped 798.66 points or 0.98 per cent to 80,575.09. Domestic markets stayed on the back foot for the third straight session as investors offloaded energy, finance and IT stocks, traders said. Mumbai, Jun 3 (PTI) Equity benchmark indices Sensex and Nifty tumbled nearly 1 per cent on Tuesday, weighed down by a widespread selloff amid foreign fund outflows and growing geopolitical uncertainties. The NSE Nifty plunged 174.10 points or 0.70 per cent to 24,542.50. As many as 2,266 stocks declined, while 1,731 advanced and 147 remained unchanged on the BSE. 'The domestic market remained in negative terrain amid mixed global cues, geopolitical issues and a volatile currency market led by a weak USD. Profit-booking is evident across sectors, except for real estate stocks, supported by expectations of an interest rate cut by the RBI. 'Mid and small-cap stocks are experiencing relatively less consolidation than large caps due to better earnings growth & moderation in premium valuation. While short-term consolidation is likely to persist, strong domestic-oriented players are estimated to provide outperformance against external volatility,' Vinod Nair, Head of Research, Geojit Investments Limited, said. From the Sensex firms, Adani Ports declined 2.42 per cent. Bajaj Finserv, Bajaj Finance, Power Grid, Eternal, IndusInd Bank, Maruti, Tata Consultancy Services and UltraTech Cement were among the biggest laggards. Mahindra & Mahindra emerged as the only gainer in the pack. Adani Group's 11 listed companies ended lower. Adani Group on Monday said it does not handle any cargo coming from Iran or any Iranian-owned ship at any of its ports, as it denied any deliberate engagement in sanctions evasion. In a stock exchange filing, the group said reports of links between any of its entities and Iranian LPG are 'baseless and mischievous'. The BSE midcap gauge declined 0.52 per cent, while the smallcap index dipped 0.07 per cent. Among sectoral indices, power dropped 1.50 per cent, utilities (1.42 per cent), bankex (0.89 per cent), energy (0.88 per cent), capital goods (0.87 per cent), financial services (0.80 per cent) and teck (0.68 per cent). On the other hand, commodities and realty were the gainers. 'The Nifty has extended its consolidation phase for yet another day, showing no urgency in establishing a clear directional trend. It appears that investors are awaiting a decisive commentary following the RBI's interest rate decision,' Rupak De, Senior Technical Analyst at LKP Securities, said. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,589.47 crore on Monday, according to exchange data. 'The ongoing foreign fund outflows, coupled with weak global cues such as geopolitical tensions and uncertainty over trade deals, are adding pressure to the markets,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. In Asian markets, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in positive territory, while Japan's Nikkei 225 index ended lower. South Korean markets were closed. European markets were trading lower. US markets ended higher on Monday. Global oil benchmark Brent crude climbed 0.28 per cent to USD 64.81 a barrel. After tumbling 796.75 points or 0.97 per cent to 80,654.26 in intra-day trade on Monday, the 30-share BSE Sensex witnessed volatile trends and later ended 77.26 points or 0.09 per cent lower at 81,373.75. The Nifty dipped 34.10 points or 0.14 per cent to settle at 24,716.60. PTI SUM SUM BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
