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Street signs: Nifty 50 on blade's edge, Swiggy's oven is hot, and more
The market rebound from April lows has turned attention to capital market-linked stocks. BSE, Central Depository Services, and DAM Capital Advisors have each jumped over 30 per cent in the past month
Samie Modak Sundar Sethuraman
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Nifty 50 on blade's edge: Breakout or breakdown?
The Nifty 50 index rose 1 per cent last week, closing at 25,003, but trailed emerging market (EM) peers as the MSCI EM Index climbed over 2 per cent. Trading above its 20-day simple moving average (SMA) of 24,800, the index has remained in a consolidation range for several weeks. Analysts say a breakout above 25,100 could lift the index to 25,400–25,500, reinforcing its upward trend. A slip below 24,800, however, could sour sentiment, potentially pushing the index to retest 24,500. 'The 20-day SMA at 24,800 is a key marker. Holding above
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Mint
37 minutes ago
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market on June 9 ahead of US-China trade talks
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Monday, tracking upbeat cues from global markets, amid optimism over US-China trade talks. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,175 level, a premium of nearly 80 points from the Nifty futures' previous close. On Friday, the domestic equity market ended higher, with the benchmark Nifty 50 closing above the 25,000 level, after the Reserve Bank of India (RBI) cut repo rate by 50 basis points (bps) to 5.50% and also reduced the Cash Reserve Bank (CRR) by 100 bps to 3%. The Sensex surged 746.95 points, or 0.92%, to close at 82,188.99, while the Nifty 50 settled 252.15 points, or 1.02%, at 25,003.05. Here's what to expect from Sensex, Nifty 50, and Bank Nifty today: Sensex formed a double bottom reversal pattern on daily charts and is currently trading comfortably above the 20-day SMA (Simple Moving Average), which is largely positive. In addition, a long bullish candle has formed on weekly charts, supporting the possibility of further uptrend from the current levels. 'We believe that the 20-day SMA, around 81,600, will act as a trend-decider level. As long as Sensex remains above this level, the bullish formation is likely to continue, with 82,600 serving as the immediate resistance zone for short-term traders. A successful breakout above 82,600 could push the market up to 83,500 - 83,900,' said Amol Athawale, VP-technical Research, Kotak Securities. Conversely, if Sensex falls below 81,600, sentiment could change, and the index may retest the 80,600 level. Further downside could extend, potentially dragging Sensex down to 80,200. Nifty 50 witnessed sharp upmove on June 6 after the outcome of RBI's mid quarter policy meet and closed the day with decent gains of 252 points. 'A long bull candle was formed on the daily chart that placed it at the edge of a decisive upside breakout of the broader range movement at 25,000 - 25,100 levels. Nifty 50, on the weekly chart, formed a long bull candle after the minor dip of previous two weeks. The weekly chart formation indicates a bullish rising three method type pattern, which is an uptrend continuation pattern,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the next upside levels to be watched for Nifty 50 are around 25,200 and 25,500 levels this week. Immediate support is placed at 24,850 levels. Om Mehra, Technical Research Analyst, SAMCO Securities said that the Nifty 50 formed a strong bullish candle on the daily chart, decisively crossing and sustaining above the earlier resistance zone of 24,900. 'This breakout, accompanied by a weekly gain of 1.02%, underpins the underlying bullish tone and signals the continuation of upward momentum. The index is now comfortably positioned above its 9 EMA, with the widening gap from the 20 EMA offering an additional cushion for any short-term pullbacks. The daily RSI has bounced back above the 60 mark, aligning with the earlier positive divergence and confirming strength in momentum,' Mehra said. The resistance is seen near 25,120, and a sustained move above this could pave the way for further gains in this coming week. On the downside, support has shifted towards 24,880 – 24,900, which now acts as a buy-on-dip zone, added Mehra. Dr. Praveen Dwarakanath, Vice President of noted that the Nifty 50 formed a strong bullish candle and closed 100 points away from its resistance. 'The index has to break the 25,150 level to gain significant momentum towards the 25,700 level, till then one can look to short the index at present levels with a target of support at the 24,500 level,' said Dwarakanath. According to VLA Ambala, Co-Founder of Stock Market Today, the current upward trend may continue for a while and Nifty 50 could find support between 24,970 and 24,900, and experience resistance close to 25,200 and 25,280 in today's session. Bank Nifty index rallied 817.55 points, or 1.47%, to close at 56,578.40 on Friday, while it ended the week with a 1.49% gain. 'Bank Nifty broke out of a six-week consolidation phase and hit fresh all-time highs. The index is trading above its 21-day and 55-day EMAs, reinforcing the positive momentum. RSI at 67 indicates strong but sustainable buying interest. Key support lies at 56,100 any breakdown below this level could see the index slide further toward 55,600. On the upside, immediate resistance is seen at 57,000; a decisive move above this may open the door for a rally toward 57,500,' said Puneet Singhania, Director at Master Trust Group. He believes the overall setup remains positive, and suggests traders to look to buy on dips. Bajaj Broking Research said in a note that the Bank Nifty index formed a strong bull candle in the weekly chart as it generated a breakout above the upper band of the last 6 weeks range signaling resumption of the up move after recent consolidation. 'We expect the index to maintain positive bias and head higher towards 56,700 and 57,200 levels in the near term. The short-term structure remains constructive with immediate support placed at 55,900 levels being the Friday's breakout area. While key support is placed at 55,200 levels being the confluence of 20 days EMA and key retracement area,' it added. According to Amol Athawale, for Bank Nifty, a range breakout formation on daily charts suggests potential for further uptrend. 'For trend-following traders, the key support zones are around 56,000 and 55,500. Above these levels, the index could continue its positive momentum towards 57,200 – 57,700. However, if it falls below 55,500, the uptrend may become vulnerable. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
an hour ago
- Mint
Indian stock market: 8 key things that changed for market over weekend - Gift Nifty, US-China trade talks to gold prices
Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open higher on Monday, following upbeat global market cues. Asian markets gained, while the US stock market ended higher last week, with the S&P 500 hitting its highest in over three months and closing above 6,000 for the first time since February 21. The Dow index also rose to a three-month high. This week, investors will monitor key stock market triggers, including domestic retail inflation, global tariff announcements, flow of foreign capital, macroeconomic data, and other global market cues. On Friday, the Indian stock market ended with strong gains after the Reserve Bank of India (RBI) cut repo rate by 50 basis points (bps) to 5.50% and also reduced the Cash Reserve Bank (CRR) by 100 bps to 3%. The Sensex rallied 746.95 points, or 0.92%, to close at 82,188.99, while the Nifty 50 settled 252.15 points, or 1.02%, at 25,003.05. 'Going forward, the impact of the rate cut is expected to continue influencing market sentiment. Rate-sensitive packs, along with select themes like railways, are likely to stay in focus, while other sectors may contribute on a rotational basis. We continue to recommend a 'buy on dips' strategy with an emphasis on selective stock picking,' said Ajit Mishra – SVP, Research, Religare Broking Ltd. Here are key global market cues for Sensex today: Asian markets traded higher on Monday ahead of key US-China trade talks in London today. Japan's Nikkei 225 rallied 0.95%, while the Topix index gained 0.72%. South Korea's Kospi index jumped 1.73% while the Kosdaq rose 0.66%. Hong Kong's Hang Seng index futures pointed at a marginally higher opening. Gift Nifty was trading around 25,167 level, a premium of nearly 70 points from the Nifty futures' previous close, indicating a positive start for the Indian stock market indices. US stock market ended higher on Friday after a better-than-expected jobs report calmed worries about the economy. The Dow Jones Industrial Average surged 442.88 points, or 1.05%, to 42,762.62, while the S&P 500 rallied 61.02 points, or 1.03%, to 6,000.32. The Nasdaq Composite closed 231.50 points, or 1.20%, higher at 19,529.95. For the week, the S&P gained 1.5%, the Dow 1.17% and Nasdaq 2.18%. Tesla share price rose 3.8%, Nvidia stock price gained 1.24%, Amazon shares added 2.7%, Alphabet stock price rallied 3.25%, and Apple share price advanced 1.64%. Wells Fargo stock price rose 1.9%, Broadcom shares fell 5%, while Lululemon share price slumped 19.8%. Top US and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two superpowers. Gathering there will be a US delegation led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer, and a Chinese contingent helmed by Vice Premier He Lifeng. US nonfarm payrolls increased by 139,000 jobs last month after a downwardly revised rise of 147,000 in April. Economists polled by Reuters had expected the survey of establishments to show 130,000 jobs added after a previously reported gain of 177,000 in April. The unemployment rate stood at 4.2%, in line with expectations. Gold prices fell after a stronger-than-expected US jobs report and optimism over easing trade tensions between US-China. Spot gold prices fell 0.2% to $3,303.19 an ounce, while US gold futures declined 0.7% to $3,323.40. Japan's economy contracted in the January-March quarter at a slower pace than initially estimated. Gross domestic product (GDP) shrank an annualised 0.2% in the three months to March, slower than the 0.7% contraction in the initial estimate and economists' median forecast. The revised quarter-on-quarter number translates as flat in price-adjusted terms, compared with a 0.2% shrinkage issued on May 16. Crude oil prices traded flat as investors waited for US-China trade talks to be held in London later in the day. Brent crude futures eased 0.09% to $66.41 a barrel, while US West Texas Intermediate crude prices fell 0.09% to $64.52. (With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
an hour ago
- Business Standard
Stock Market LIVE Updates: GIFT Nifty signals higher open for India markets; Asian peers climb
Sensex Today | Stock Market LIVE Updates Today, June 9: At 6:40 AM, GIFT Nifty futures were ruling 66 points higher at 25,162 level Stock Market LIVE Updates Today, Monday, June 9, 2025: Stock markets today will be, largely, influenced by global market trends. However, stock-specific triggers, surge in Covid-19 cases, foreign investors' flows, and IPOs will also guide market sentiment today. At 6:40 AM, GIFT Nifty futures were ruling 66 points higher at 25,162 level. The BSE Sensex index ended 747 points, or 0.92 per cent, higher at 82,189, while the Nifty50 closed at 25,003, higher by 252 points or 1.02 per cent. "Although the Nifty remains in a consolidation phase, the buoyancy in rate-sensitive sectors—particularly the breakout seen in the banking index—has renewed hopes of a trend resumption. A decisive breakout above the 25,200 mark in the Nifty could trigger the next leg of the rally, potentially pushing the index toward the 25,600 level," said Ajit Mishra – SVP, research, Religare Broking. FIIs/FPIs net bought Indian stocks worth ₹1,009.71 crore on Friday, while DIIs bought shares worth ₹9,342.48 crore. Global markets today Asian markets were higher on Monday as investors awaited trade talks between Washington and Beijing later in the day. Japan's Nikkei 225 climbed 0.95 per cent, and South Korea's Kospi index added 1.73 per cent. Australian markets are closed for a public holiday. On the data front, Japan's January-March quarter GDP data showed that the economy contracted at a slower pace than initially estimated, with the gross domestic product shrinking at an annualised pace of 0.2 per cent as against the initial estimates of a 0.7-per cent contraction. Meanwhile, China is scheduled to report its consumer and wholesale inflation readings for May today. A Reuters poll estimate China's consumer prices to have fallen by 0.2 per cent year-on-year, while PPI is expected to have declined by 3.2 per cent from a year earlier. In the US, major Wall Street indices ended higher last Friday after a better-than-expected non-farm payrolls data eased fears of an economic slowdown. US payrolls climbed 139,000 in May, government data showed -- above the Dow Jones forecast of 125,000. The Dow Jones Industrial Average popped 1.05 per cent, the S&P 500 also gained 1.03 per cent, and the Nasdaq Composite rallied 1.20 per cent. In the commodities market, Gold prices slipped more than 1 per cent last Friday amid a stronger-than-expected US jobs report. Spot gold fell 1.1 per cent to $3,316.13 an ounce, while US gold futures settled 0.8 per cent lower at $3,346.60. IPOs Today In the IPO market, the allotment of Ganga Bath Fittings IPO will be finalised today. Besides, Sacheerome IPO (SME) will open for subscription today. Connect with us on WhatsApp
