Sensex rises! These stocks are up over 10% on BSE
NEW DELHI: Quite a few stocks rose in excess of 10% on BSE as domestic equity indices, BSE Sensex and NSE Nifty, traded in the green on Friday amid buying in frontline bluechip counters.Stocks that rallied over 10% included, Dhunseri Tea(13.93%), MIC Electronics(13.30%), Mauria Udyog(13.03%), S S Organic(12.72%), Rishabh Digha(12.65%), Citadel Realty(12.38%), Ajcon Global(12.15%), NPR Finance(12.05%), Indef Manufacturing(11.76%) and Permanent Magnets(11.00%).The 30-share Sensex traded 685.37 points up at 82127.41, while the 50-share Nifty index rose 218.25 points to 24969.15.In the Nifty 50 index, 43 stocks traded in the green, while 7 stocks were in the red.Stocks such as Reliable Ventures India Indef Manufacturing and Choksi Labs hit their fresh 52-week high, while Khadim India MPIL Corp , Yarn Syndicate(PP), Pulsar International and Archana Software touched their new 52-week low in trade.
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Time of India
an hour ago
- Time of India
More money on the Street draws bulls to realty, auto, financials
Following the RBI's policy rate cut and CRR reduction, interest rate-sensitive sectors like banks, financials, property, and autos experienced a surge, propelling the Nifty past 25,000. The Nifty Bank index reached a new high, while realty and financial services also saw significant gains. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Interest rate-sensitive sectors, such as banks, financials, property and automotives, surged after Friday's twin policy announcements on funding costs and liquidity enhancement , pushing the benchmark Nifty higher by more than 1% past the 25,000 Nifty Bank index made a fresh high of 56,695 level on Friday, ending 1.5% higher. Nifty's Realty index was up 4.7% at close, the Financial Services index advanced 1.75%, and the Auto index closed 1.5% higher. The Reserve Bank of India (RBI) slashed the policy rate by half a percentage point - the most since March 2020 - and reduced the cash reserve ratio (CRR) to the Covid-era record low."The market has responded appropriately to the RBI's repo rate and CRR cuts, which could translate into longer-term gains if consumption also picks up," said Amit Khurana, head of equities at Dolat Capital Market. "Rate-sensitive sectors are gaining momentum, driven by short covering, but sustained growth depends on increased cash market participation."The Nifty Bank and Financial Services indices are also seeing a change in trend on the technical charts."Bank Nifty witnessed a bullish breakout from a seven-week consolidation phase on Friday, marking fresh all-time highs. Finnifty has also seen a similar breakthrough," said Vipin Kumar, assistant vice president of derivatives and technical research at Globe Capital said Bank Nifty is poised to move towards the 57,500-57,800 range in the near term, with key support around 55,400. This implies about a 2.1% upside in the index from current levels.A rate cut usually translates into lower lending rates for the banks, prompting citizens to borrow more at cheaper rates, either for investing or buying new assets like homes or vehicles. Due to the cut in CRR rates, NBFCs will also get easier access to bank funds, which may increase their lending said from a longer-term perspective, some of these sectors may be attractive to investors."Valuations for banks remain modest, with NBFCs favoured due to the CRR cut. Real estate may also benefit from improved sentiment, though auto demand remains weak and is unlikely to be significantly impacted by these measures," he the shorter term, Kumar said that the auto index has formed a fresh buying pivot with renewed buying interest and he will reassess the index near the 24,150 level."In the real estate sector, we recommend buying the index heavyweight DLF on dips, while other stocks within the space can be considered at current levels," he said.
Hans India
an hour ago
- Hans India
Markets rally on RBI's surprise 50 bps rate cut
Mumbai: Benchmark equity indices surged on Friday, with the Sensex climbing 746.95 points and Nifty reclaiming the 25,000-level after the RBI cut interest rates by more-than-expected 50 basis points -- a third consecutive reduction -- and reduced the cash reserve ratio for banks to provide a major liquidity fillip to support the economy amid geopolitical and tariff headwinds. Recovering all the early lost ground, the 30-share BSE Sensex jumped 746.95 points, or 0.92 per cent, to settle at 82,188.99. During the day, it surged 857.85 points, or 1.05 per cent, to 82,299.89. The 50-share NSE Nifty reclaimed the 25,000-level and climbed 252.15 points, or 1.02 per cent, to settle at 25,003.05. Interest-rate-sensitive realty index jumped 4.74 per cent, while auto index went up 1.50 per cent and bankex climbed 1.25 per cent. The Reserve Bank of India's (RBI's) six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also cut the cash reserve ratio by 100 basis points to 3 per cent, adding Rs 2.5 lakh crore to already surplus liquidity in the banking system. With the latest reduction, the RBI has cut interest rates by a total of 100 basis points in 2025, starting with a quarter-point reduction in February -- the first cut since May 2020 -- and another similar-sized cut in April. The central bank, at the same time, changed its monetary policy stance to 'neutral' from accommodative, with Malhotra saying further action will depend on incoming data. 'The Indian stock market responded optimistically to the RBI's surprise and aggressive growth push policy. The tremendous rate cut and liquidity boost via the CRR cut is expected to facilitate swift transmission of lower rates, reinforcing the RBI's strong commitment to fostering economic growth, boosting investment, and stimulating consumption. 'Rate-sensitive sectors, including banking, real estate, automobiles, and consumer durables are leading the rally,' Vinod Nair, Head of Research, Geojit Investments Ltd, said. From the Sensex firms, Bajaj Finance surged 4.93 per cent and Axis Bank climbed 3.15 per cent. Maruti, IndusInd Bank, Bajaj Finserv, Eternal, Mahindra & Mahindra, Tata Steel, Kotak Mahindra Bank, Titan, HDFC Bank, and NTPC were among the other major gainers. Bharti Airtel and Sun Pharma were the laggards. 'A third straight cut in repo rates this year with 50 bps cut instead of an estimate of 25 bps is a pleasant move.
Time of India
5 hours ago
- Time of India
RBI Hits the Bull's Eye: Stocks Surge 1%
Live Events Equities surged about 1% Friday as the Reserve Bank of India 's bigger-than-expected cut in the key policy rate and the surprise move to ease liquidity came as an impetus to a market starved of fresh triggers. Shares of lenders, real estate developers and automobile makers led the rise, with the Nifty Bank index hitting a record on expectations that the central bank's measures will ease pressure on their profitability and boost BSE Sensex rose 746.95 points to end at 82,188. The NSE Nifty 50 advanced 252.15 points to close at 25,003. 'The most important point is that monetary policy is supportive of growth and growth is good for equities,' said Ramesh Mantri, CIO, WhiteOak Capital rally on Friday helped the Sensex and Nifty post nearly 1% gains for the week and snap their two-week losing streak. Continuation of the trend will depend on the Nifty crossing a key hurdle at 25,120-25,200, beyond which it could advance to 25,500, say market watchers. Among sectoral indices, the Nifty Bank and Nifty Auto rose 1.5% each, while the Nifty Realty shot up by about 5%.'The frontloading of rate cuts augurs well for finance companies, real estate, auto and banking,' said Sunny Agrawal, head of fundamental equity research, SBI Securities.'This (frontloading of rate cuts) will have a lag effect on NII (net interest income) and immediate impact of boost in treasury income and also on urban consumption,' said greater-than-expected interest rate cut of 50 basis points and the liquidity dose were positive surprises. But the central bank's policy stance shift to 'neutral' from 'accommodative' and governor Sanjay Malhotra's remark that monetary policy is left with 'very limited space' to support growth may keep the optimism in are reasonable, except for 'narrative-driven' sectors, said Mirae Asset Investment Managers CIO Neelesh Surana, while warning investors to moderate their expectation of returns from equity. 'New investors could consider hybrid funds and avoid thematic funds,' said broader market also ended higher, with the Nifty Midcap 150 rising nearly 1% and the Nifty Smallcap 250 up 0.6%. Of the 4,156 stocks traded on the BSE, 2,278 advanced, while 1,744 Volatility Index, or VIX, the market's fear measure, declined 3% to 14.3, in line with the market rise, suggesting traders do not see risks of sharp moves in the near Asian markets, sentiment remained tepid. Chinese and Hong Kong equities ended slightly lower after a call between US and Chinese leaders failed to show progress on trade. The Shanghai Composite was flat, and the Hang Seng slipped 0.5%.At home, foreign portfolio investors (FPIs) were net buyers, purchasing shares worth Rs 1,010 crore on Friday. So far in June, they have been sellers to the tune of about ₹7,700 crore. Domestic institutional investors (DIIs) bought shares worth ₹9,342 crore on Friday Fund managers said the fall in interest rates could make equities more popular than fixed income.'The competition for interest rates is equities but as we see debt yields are falling, equities are likely to become more attractive,' said Mantri.
