Two Trades for Today: A large-cap auto stock and a mid-cap private sector bank, both for an almost 6% gain
While staying within a defined trading range, the markets headed nowhere and ended Wednesday on a modestly negative note. The Nifty opened on a quiet note; it surged higher in the early hour of the session to form the day's high point. However, after that, the Nifty gradually lost ground and slipped into negative territory. It continued to stay in negative territory with limited losses until the end of the session. The headline Index closed with
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The Print
5 hours ago
- The Print
Stock markets fall for 2nd day amid soaring Middle East tensions
The 50-share NSE Nifty edged lower by 41.35 points or 0.17 per cent to settle at 24,812.05, marking its second day of losses. Surrendering its early gains, the 30-share BSE Sensex declined by 138.64 points or 0.17 per cent to close at 81,444.66. After a weak opening, the index hit a high of 81,858.97 in morning deals but failed to hold onto gains later. The barometer dipped 346.29 points or 0.42 per cent to hit a low of 81,237.01. Mumbai, Jun 18 (PTI) Benchmark indices Sensex and Nifty closed lower on Wednesday as soaring tensions in the Middle East and caution ahead of the US Fed interest rate decision hit investor sentiment. Among Sensex firms, Tata Consultancy Services was the biggest loser dropping by 1.79 per cent. Adani Ports fell by 1.55 per cent, Hindustan Unilever by 1.35 per cent, Bajaj Finserv by 1.16 per cent, and Nestle by 0.95 per cent. Losses in ICICI Bank, Larsen & Toubro, Infosys, NTPC and HCL Tech also dragged the index down. On the other hand, IndusInd Bank surged by 5.12 per cent after a report expressed optimism over its performance in the coming 12 months. Titan rose by 1.99 per cent, Mahindra & Mahindra by 1.24 per cent and Maruti by 1.12 per cent. 'The domestic market failed to maintain the opening gains as the continuing tensions in the Middle East & volatility in oil prices dragged the overall sentiment. However, auto and consumer discretionary gained in expectations of a demand revival,' Vinod Nair, Head of Research, Geojit Investments Limited, said. Israeli warplanes pounded Iran's capital overnight and into Wednesday as Iran launched a small barrage of missiles at Israel with no reports of casualties. Ajit Mishra – SVP, Research, Religare Broking Ltd said that the Nifty edged higher initially but failed to sustain the momentum, primarily due to pressure from heavyweight stocks. 'Markets will react to the outcome of the US Fed policy meeting during early trades on Thursday. While most expect no change in interest rates, the Fed's commentary—especially in light of the prevailing global uncertainty caused by geopolitical tensions and trade tariff concerns—will be more crucial,' Mishra said. The BSE midcap and smallcap indices ended 0.34 per cent lower each. Among BSE sectoral indices, IT dropped 0.76 per cent, BSE Focused IT declined 0.75 per cent, utilities (0.75 per cent), power (0.67 per cent), commodities (0.66 per cent) and metal (0.65 per cent). However, consumer durables index climbed 0.75 per cent, consumer discretionary (0.38 per cent), auto (0.37 per cent) and bankex (0.03 per cent). As many as 2,447 stocks declined while 1,531 advanced and 137 remained unchanged on the BSE. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,482.77 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 8,207.19 crore in the previous trade. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index settled in the positive territory while Hong Kong's Hang Seng ended lower. European markets were trading in the positive zone. US markets ended lower on Tuesday. Global oil benchmark Brent crude dropped 1.35 per cent to USD 75.42 a barrel. On Tuesday, the Sensex declined 212.85 points or 0.26 per cent to settle at 81,583.30. The Nifty dropped 93.10 points or 0.37 per cent to 24,853.40. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Economic Times
6 hours ago
- Economic Times
Two Trades for Today: A large-cap auto stock and a mid-cap private sector bank, both for an almost 6% gain
While staying within a defined trading range, the markets headed nowhere and ended Wednesday on a modestly negative note. The Nifty opened on a quiet note; it surged higher in the early hour of the session to form the day's high point. However, after that, the Nifty gradually lost ground and slipped into negative territory. It continued to stay in negative territory with limited losses until the end of the session. The headline Index closed with FONT SIZE SAVE PRINT COMMENT
Hans India
6 hours ago
- Hans India
Trade Setup June 19: Nifty closes below key support at 24,850; market awaits Fed cues for direction
India's benchmark indices extended their decline for a second consecutive session on Wednesday, with the Nifty 50 slipping below a key support level. The index closed 41.35 points or 0.17% lower at 24,812.05, while the BSE Sensex shed 138.64 points or 0.17% to end at 81,444.66. Shrikant Chouhan, head of equity research at Kotak Securities, cautioned that weak market sentiment is likely to persist if Nifty trades below 24,800. He identified 24,725 as a critical support zone, warning that a breach could push the index down to 24,500. However, Chouhan added that if the Nifty crosses above 24,900, it could trigger positive momentum, with potential upside towards 25,000–25,100. Rupak De, senior technical analyst at LKP Securities, echoed similar views. 'A decisive reclaim of 24,850 may ignite a rally toward 25,000 and higher. But failure to cross this mark could drag Nifty back to 24,500,' he said, noting that the U.S. Federal Reserve's decision could significantly influence both global and Indian market sentiment. The day's decline was led by major stocks like ICICI Bank and Tata Consultancy Services, adding pressure on broader indices. As traders eye the Fed's policy outcome, the next few sessions could determine whether markets recover or slide further.
