Quick Wrap: Nifty PSU Bank Index declines 1.18%
Nifty PSU Bank index ended down 1.18% at 6934.85 today. The index is up 5.00% over last one month. Among the constituents, Canara Bank slipped 3.61%, Union Bank of India dropped 2.83% and Indian Overseas Bank shed 2.70%. The Nifty PSU Bank index is down 7.00% over last one year compared to the 5.64% surge in benchmark Nifty 50 index. In other indices, Nifty FMCG index is down 1.05% and Nifty Bank index is down 0.99% on the day. In broad markets, the Nifty 50 is down 0.68% to close at 24718.6 while the SENSEX is down 0.70% to close at 81118.6 today.
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United News of India
18 minutes ago
- United News of India
Sensex tumbles by 1,070.39 points during the week amid geopolitical tensions
Mumbai, June 14 (UNI) The BSE Sensex declined 1,070.39 points or 1.30 per cent to settle at 81,118.60, posting sharp losses during the week ended June 13, weighed down by geopolitical tensions, including the ongoing US-China trade talks and escalating hostilities between the US and Iran. Sentiment further deteriorated after Israel carried out military strikes on Iran, heightening tensions in the oil-rich Middle East. Investors will closely monitor crude oil prices, bond markets and further geopolitical developments. Nifty tumbled 284.45 points or 1.14 percent to settle at 24,718.60. The broader market outperformed the frontline indices. BSE Mid-Cap index shed 0.90 per cent to close at 45, Small-Cap fell 0.13 per cent to end at 53,370.29. On Monday Sensex added 256.22 points to settle at 82,445.21. Nifty, too, rose 100.15 points to 25,103.20. On Tuesday as investors closely monitored ongoing US-China trade discussions, sensex shed 53.49 points to 82,391.72. Nifty rose 1.05 points or 0.00% to 25,104.25. On Wednesday, buoyed by positive global trade developments, including encouraging signals from US-China trade negotiations in London, Sensex added 123.42 points to settle at 82,515.14. Nifty rose 37.15 points to 25,141.40. On Thursday, dragged down by shaky global cues and jittery investor sentiment, Sensex tanked 823.16 points to 81,691.98. Nifty slumped 253.20 points to 24,888.20. The domestic equity indices ended with significant losses on Friday, mirroring a sell-off across Asian markets, after Israel launched military strikes on Iran Sensex slumped 573.38 points to 81,118.60. Nifty fell 169.60 points to 24,718.60. Shares that fell during the week were HDFC Bank by 2.99 pc, JSW Steel by 1.69 pc Mahindra & Mahindra (M&M) by 3.19 pc, .Larsen & Toubro (L&T) by 0.47 pc, and Maruti Suzuki India by 0.82 pc Multi Commodity Exchange of India (MCX) jumped 2.23 pc . The company said it received approval from the Securities and Exchange Board of India (SEBI) to launch electricity derivatives. Capri Global Capital surged 13.2 pc The company launched the autopay facility for gold loans, eliminating the need for manual payments or branch visits Glenmark Pharmaceuticals rallied 5.09 pc. The drug maker announced the upcoming launch of zanubrutinib in India, following approval from the Drugs Controller General of India (DCGI). Zydus Lifesciences rose 1.47 pc. The company announced that it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its Active Pharmaceutical Ingredient (API) manufacturing facility located at Dabhasa, near Vadodara. UNI JS PRS
Mint
an hour ago
- Mint
Stocks to buy under ₹200: Mehul Kothari of Anand Rathi recommends three shares to buy or sell on Monday
Stocks to buy under ₹ 200: The domestic equity benchmark indices, Sensex and Nifty 50, ended lower for the second consecutive session on Friday, as conflict in the Middle East between Israel and Iran spooked investors. The Sensex declined 573.38 points, or 0.70%, to close at 81,118.60, while the Nifty 50 closed 169.60 points, or 0.68%, lower at 24,718.60. Bank Nifty index dropped 555.20 points, or 0.99%, to end at 55,527.35. For the week, the Sensex fell 1.30%, Nifty 50 declined 1.13%, and the Bank Nifty slipped 1.86%. Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, noted that the Nifty 50 witnessed a sharp decline of nearly 600 points from the recent high of 25,200 in the final two sessions of the week, triggered by profit booking at higher levels, coupled with rising geopolitical tensions following the escalation of conflict between Israel and Iran. 'As anticipated, Nifty 50 faced resistance right around the 161.8% Golden Ratio extension near the 25,200 mark and witnessed a sharp reversal. While the profit booking we had been expecting has kicked in, the next leg of the fall is yet to be confirmed. A decisive break below 24,450 — the previous swing low — would open the gates for a slide towards 24,000 and lower. Alternatively, the index may attempt another relief bounce, which should still be used as an opportunity to book profits rather than chase the rally,' Kothari said. The broader markets too remain overheated, and a healthy correction looks warranted. In line with this setup, Kothari advises traders to maintain a cautious stance, stay light on aggressive longs, and consider reducing exposure near resistance zones unless momentum revives convincingly. Bank Nifty followed up its recent rally by hitting a new life high near 57,000, but the move was short-lived as the index sharply reversed, tumbling close to the 55,000 mark. For the week, it ended with a loss of nearly 2%. 'From here, a decisive close below 55,000 could trigger further profit booking, potentially dragging the Bank Nifty index towards 54,300 and lower. On the flip side, a sustained move above 57,000 will be essential for any fresh bullish momentum to resume. Until then, the index is likely to remain volatile within this broad range,' Kothari added. Regarding stocks to buy under ₹ 200, Mehul Kothari of Anand Rathi recommended buying these three buy or sell stocks: Tata Steel, GMR Airports and IDFC First Bank shares. 1] Tata Steel: Buy at ₹ 152; Target Price: ₹ 164; Stop Loss: ₹ 146 2] GMR Airports: Buy at ₹ 81; Target Price: ₹ 88; Stop Loss: ₹ 77 3] IDFC First Bank: Buy at ₹ 70; Target Price: ₹ 78; Stop Loss: ₹ 66 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.
Hans India
an hour ago
- Hans India
Mkts tumble 1% on flaring geopolitical tensions
Mumbai: Equity benchmark indices Sensex and Nifty tumbled nearly 1 per cent on Friday as weak global markets and a spike in Brent crude oil prices after Israel attacked Iran's capital weighed on investor sentiment. Falling for the second day in a row, the 30-share BSE Sensex dived 573.38 points or 0.70 per cent to settle at 81,118.60. During the morning trade, it tanked 1,337.39 points or 1.63 per cent to 80,354.59. As many as 2,469 stocks declined while 1,516 advanced and 137 remained unchanged on the BSE. The 50-share NSE Nifty dropped 169.60 points or 0.68 per cent to 24,718.60. On a weekly basis, the BSE benchmark tanked 1,070.39 points or 1.30 per cent, and the Nifty declined 284.45 points or 1.13 per cent. Investors stayed away from riskier assets amid fears of a full-blown war between Israel and Iran and foreign fund outflows. 'Rising tensions in the Middle East after Israel attacked key Iranian areas drove investors to safe-haven assets like gold as riskier equities continued to face battering. Along with fresh concerns of the US likely to impose unilateral tariffs over next few weeks and higher valuations of domestic equities resulted in consolidation of markets,' Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. Among the Sensex firms, Adani Ports, ITC, State Bank of India, IndusInd Bank, HDFC Bank, Titan, Kotak Mahindra Bank and UltraTech Cement were the major laggards. On the other hand, Tech Mahindra, Tata Consultancy Services, Sun Pharma and Maruti were the gainers. The BSE midcap gauge declined 0.32 per cent and smallcap index dipped 0.30 per cent. Among BSE sectoral indices, services tumbled 2.06 per cent, bankex (1.01 per cent), FMCG (0.94 per cent), financial services (0.85 per cent), metal (0.81 per cent) and power (0.75 per cent). Healthcare index and realty were the only winners. 'Indian equity benchmarks experienced downward pressure, driven by weak global cues and foreign institutional outflows. Market sentiment was notably impacted by heightened geopolitical tensions following Israel's military strike on Iran, which significantly increased risk aversion among investors. Although India's CPI for May eased below the RBI's comfort threshold, offering a positive macro signal, this was largely overshadowed by external headwinds.
