Quick Wrap: Nifty IT Index gains 1.26%
Nifty IT index ended up 1.26% at 38784.3 today. The index has gained 1.00% over last one month. Among the constituents, HCL Technologies Ltd rose 3.23%, Infosys Ltd added 2.20% and Tech Mahindra Ltd gained 1.65%. The Nifty IT index has soared 12.00% over last one year compared to the 8.07% increase in benchmark Nifty 50 index. In other indices, Nifty PSU Bank index has dropped 0.88% and Nifty FMCG index is down 0.67% on the day. In broad markets, the Nifty 50 recorded a gain of 0.15% to close at 25141.4 while the SENSEX increased 0.15% to close at 82515.14 today.
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Time of India
2 hours ago
- Time of India
Sensex slides over 800 points as global tensions resurface
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Business Standard
5 hours ago
- Business Standard
Sensex, Nifty decline amid geopolitical tension and trade uncertainty
Indian equities declined on Thursday amid uncertainty surrounding the US–China trade deal and rising geopolitical tensions. The Sensex ended at 81,692, a decline of 823 points or 1 per cent. The Nifty, meanwhile, ended the session at 24,888, a fall of 253 points or 1.01 per cent. Investors were jittery despite US President Donald Trump's claim on Wednesday that a tariff framework with China had been reached. Concerns about elevated geopolitical tensions further dented sentiment after Iran said it would strike US bases in the Middle East if nuclear talks failed. The US, in response, said its personnel were being moved out of the Middle East as it could become a dangerous place. Geopolitical tensions in the Middle East could push Brent crude prices higher—a key negative for India, which imports most of its crude oil requirements. Aviation stocks declined after a fatal crash of a Boeing 787 Dreamliner operated by Air India left more than 200 people dead. The shares of Indian aviation firms fell. The stock of InterGlobe Aviation, which owns IndiGo, dropped 2.7 per cent, while that of SpiceJet declined by 1.8 per cent. Shares of helicopter services firm Global Vectra Helicorp fell by 0.1 per cent, and those of chartered aircraft carrier Taal Enterprises declined by 3.05 per cent. In the near future, negotiations between the US and its trading partners, as well as geopolitical developments, will determine market direction. 'The Nifty has once again approached the support zone of its short-term moving average—the 20-day EMA—which currently lies around the 24,800 mark. A decisive break below this level could lead the index back into a consolidation phase. Given the prevailing uncertainty, we recommend maintaining strict stop-losses in short-term trades, particularly in the mid-cap and small-cap space. It is also advisable to avoid aggressive long positions until a clearer directional trend emerges,' said Ajit Mishra, senior vice-president – research, Religare Broking. Barring three, all Sensex constituents declined. Larsen & Toubro, which fell 2.2 per cent, was the biggest contributor to the Sensex decline, followed by Infosys, which dropped 1.4 per cent. The market breadth was weak, with 2,780 stocks declining and 1,226 advancing.
The Print
6 hours ago
- The Print
Sensex, Nifty tumble 1 pc on weak global trends, geopolitical tensions
Snapping its six-day winning streak, the broader NSE Nifty tumbled 253.20 points or 1.01 per cent to 24,888.20. The 30-share BSE Sensex dropped 823.16 points or 1 per cent to settle at 81,691.98 with 27 of its constituents declining and three ending higher. During the day, it plunged 991.98 points or 1.20 per cent to 81,523.16. Mumbai, Jun 12 (PTI) Benchmark Sensex tanked 823 points on Thursday following a selloff in oil & gas, power and capital goods shares in tandem with weak global market trends amid growing tensions in the Middle East. Fresh foreign fund outflows also dented investors' sentiment, traders said. Among Sensex stocks, Tata Motors, Titan, Eternal, Power Grid, Tata Steel, Larsen & Toubro, Mahindra & Mahindra and Hindustan Unilever were among the biggest laggards. Bajaj Finserv, Asian Paints and Tech Mahindra were the gainers. 'Consolidation in domestic markets is evolving into a broad-based trend, now extending to large-cap stocks. Valuation concerns and rising oil prices — driven by Middle East tensions — are fuelling risk aversion among investors. 'Adding to the uncertainty, the US is considering unilateral tariff hikes on several key trading partners, with a decision expected within the next one to two weeks, ahead of an early July deadline,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE midcap gauge tanked 1.52 per cent and smallcap index dropped 1.38 per cent. Among sectoral indices, power tumbled 2.19 per cent, utilities (2.18 per cent), oil & gas (2.10 per cent), realty (2.07 per cent), consumer durables (2.02 per cent), industrials (1.98 per cent), auto (1.71 per cent), consumer discretionary (1.67 per cent) and metal (1.63 per cent). As many as 2,729 stocks declined while 1,282 advanced and 140 remained unchanged on the BSE. 'The sell-off was triggered by a combination of factors, including renewed geopolitical tensions between Israel and Iran, a rise in crude oil prices, and expiry-related pressure following the breakdown of a key support level. These developments have made market participants more cautious,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. Meanwhile, a London-bound Air India plane carrying 242 passengers and crew crashed in a residential area minutes after taking off from the Ahmedabad airport on Thursday afternoon. Many people were feared killed. Shares of aircraft manufacturer Boeing plunged nearly 8 per cent in pre-market trade on Thursday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 446.31 crore on Wednesday, according to exchange data. Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said investors exited stocks at will weighed down by weak global sentiment coupled with the possibility of Israel attacking Iran and renewed tariff threat by US President Donald Trump'. In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index settled in the positive territory, while Japan's Nikkei 225 index and Hong Kong's Hang Seng ended lower. Equity markets in Europe were trading in the negative territory. US markets ended lower on Wednesday. Global oil benchmark Brent crude declined 1.43 per cent to USD 68.77 a barrel. On Wednesday, the 30-share BSE Sensex rose by 123.42 points or 0.15 per cent to settle at 82,515.14. The Nifty ended 37.15 points or 0.15 per cent up at 25,141.40. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
