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Street Signs: Global cues to guide markets, Sebi's NSEL broker scheme
Despite volatility in secondary markets, investors embraced two recent initial public offerings (IPOs).
Sundar Sethuraman Khushboo Tiwari Mumbai
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Global currents tug at India's market rudder
The benchmark Nifty dropped 0.7 per cent last week after gaining 4.2 per cent the previous week. Investors remained uneasy as the House of Representatives narrowly approved US President Donald Trump's tax Bill. Long-dated US bond yields climbed amid mounting US debt concerns, prompting foreign portfolio investors (FPIs) to sell heavily in India. Rising yields make US bonds more attractive, leading FPIs to take money off the table from emerging markets, including India. According to provisional exchange data, FPIs offloaded nearly ₹11,590 crore last week. With the earnings season winding down, global cues
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India Gazette
7 hours ago
- India Gazette
FPIs sold equities worth Rs 8749 crore this week, however sharp turnaround seen after RBI rate cut
Mumbai (Maharashtra) [India], June 7 (ANI): Foreign Portfolio Investors (FPIs) began the first week of June on a weak note in the Indian stock market, with net investments staying in the negative territory. According to data released by NSDL, FPIs pulled out a total of Rs 8,749 crore from Indian equities during the week from June 2 to June 6. This indicates that foreign investors were net sellers in the market during most of the week. The withdrawal came amid global uncertainties and cautious investor sentiment. However, a sharp turnaround was seen on Friday after the Reserve Bank of India's Monetary Policy Committee (MPC) announced a surprise rate cut of 50 basis points. The repo rate was reduced to 5.5 per cent, which gave a strong push to investor confidence. Market experts believe that this aggressive rate cut will boost India's economic momentum and improve overall demand conditions. With inflation staying within the RBI's comfort zone and the central bank indicating a pro-growth stance, FPIs are expected to increase their investments in the coming months. Ajay Bagga Banking and Market expert told ANI 'June first week saw roller coaster in terms of FPI flows. The trend is positive as a weak US dollar is inversely correlated to EM flows. With Indian macro showing strength and expectations of the 100 bps rate cuts providing a further boost to economic momentum and aggregate demand, FPIs will rank India as a top investment destination. Valuations are quoted as a constraint but we see the growth potential overriding these concerns eventually'. Although high stock market valuations remain a concern, experts say that India's strong growth prospects may help overcome this challenge. The net foreign portfolio investment (FPI) inflows in May remained in positive and stood at Rs 19,860 crore, making May the best-performing month so far this year in terms of foreign investment. In previous months' data also showed that FPIs had sold stocks worth Rs 3,973 crore in March. In January and February, they had sold equities worth Rs 78,027 crore and Rs 34,574 crore, respectively. (ANI)
Time of India
9 hours ago
- Time of India
Dalal Street Week Ahead: Nifty near breakout as resistance seen at 25,100; PSU banks, energy lead sectoral momentum
After consolidating for two weeks, the Nifty finally appeared to be flexing its muscles for a potential move higher. Over the past five sessions, the Nifty traded with an underlying positive bias and ended near the week's high point while also attempting to move past a crucial pattern of resistance. The past week saw the Index oscillating in the 527-point range, which was in line with the previous weeks. The volatility also cooled off; the India VIX came off by 9% to 14.63 on a weekly basis. While staying largely in a range trading with a positive bias, the headline Index closed with a net weekly gain of 252.35 points (+1.02%). Over the past couple of weeks, the Nifty has traded in a well-defined range created between 24,500-25,100 levels. This would mean that the markets would remain devoid of directional bias unless they take out 25,100 on the higher side or violate the 24,500 level. Despite visibly strong undercurrents, staying reactive to the markets rather than getting predictive would be prudent. Although there are heightened possibilities of the Nifty taking out the 25,100 level, we must consider it as resistance until it is taken out convincingly. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo The coming week is set to see a stable start; the levels of 25150 and 25400 are likely to act as resistance points. The supports come in at 24,800 and 24500. The trading range is expected to get wider than usual. The weekly RSI is 60.94; it continues to remain neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal line. A strong white candle emerged; this shows the bullish trend that the markets had during the week. Live Events A pattern analysis of the weekly chart shows that the Nifty resisted the upward rising trendline that began from the low of 21,350 and joined the subsequent rising bottoms. The Nifty has attempted to penetrate it after resisting it for a couple of weeks. Overall, the coming week may see the markets trading with an underlying bullish bias. However, for this to culminate in a good trending move, the Index will have to take out the 25,100-25,150 zone convincingly on the upside. Until this happens, the markets may continue to consolidate in a broad trading range. Unless there is a strong move that surpasses the 25,100-25,150 zone, one must consider this level as an immediate resistance point. Some pockets have run up too hard over the past few days; one must also focus on protecting gains at current levels rather than chasing the up moves. Fresh purchases must be kept limited in stocks with strong technical setups and the presence of relative strength. A cautiously positive approach is advised for the coming week. In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks. Relative Rotation Graphs (RRG) show that the Nifty PSU Bank Index continues to build on its relative momentum while staying inside the leading quadrant. It may continue outperforming the markets relatively. The Infrastructure, Consumption, and PSE Index are also inside the leading quadrant but are seen giving up on their relative momentum. The Nifty Bank Index has rolled inside the weakening quadrant. The Nifty Services Sector, Financial Services, and Commodity Indice are also inside the weakening quadrant. Individual performance of components from these groups may be seen, but overall relative performance may slow down over the coming weeks. The Nifty FMCG Index has rolled inside the lagging quadrant. The Nifty Metal and Pharma Indice are languishing in this quadrant. The Nifty IT index is also inside the lagging quadrant, but is seen in a strong bottoming-out process while improving its relative momentum. The Nifty Energy, Media, Realty, and Auto Indices are inside the improving quadrant and may continue improving their relative performance against the broader markets. Important Note: RRG™ charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals. Milan Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at
Economic Times
9 hours ago
- Economic Times
Dalal Street Week Ahead: Nifty near breakout as resistance seen at 25,100; PSU banks, energy lead sectoral momentum
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel After consolidating for two weeks, the Nifty finally appeared to be flexing its muscles for a potential move higher. Over the past five sessions, the Nifty traded with an underlying positive bias and ended near the week's high point while also attempting to move past a crucial pattern of resistance. The past week saw the Index oscillating in the 527-point range, which was in line with the previous weeks. The volatility also cooled off; the India VIX came off by 9% to 14.63 on a weekly basis. While staying largely in a range trading with a positive bias, the headline Index closed with a net weekly gain of 252.35 points (+1.02%).Over the past couple of weeks, the Nifty has traded in a well-defined range created between 24,500-25,100 levels. This would mean that the markets would remain devoid of directional bias unless they take out 25,100 on the higher side or violate the 24,500 level. Despite visibly strong undercurrents, staying reactive to the markets rather than getting predictive would be prudent. Although there are heightened possibilities of the Nifty taking out the 25,100 level, we must consider it as resistance until it is taken out coming week is set to see a stable start; the levels of 25150 and 25400 are likely to act as resistance points. The supports come in at 24,800 and 24500. The trading range is expected to get wider than weekly RSI is 60.94; it continues to remain neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal line. A strong white candle emerged; this shows the bullish trend that the markets had during the week.A pattern analysis of the weekly chart shows that the Nifty resisted the upward rising trendline that began from the low of 21,350 and joined the subsequent rising bottoms. The Nifty has attempted to penetrate it after resisting it for a couple of the coming week may see the markets trading with an underlying bullish bias. However, for this to culminate in a good trending move, the Index will have to take out the 25,100-25,150 zone convincingly on the upside. Until this happens, the markets may continue to consolidate in a broad trading range. Unless there is a strong move that surpasses the 25,100-25,150 zone, one must consider this level as an immediate resistance point. Some pockets have run up too hard over the past few days; one must also focus on protecting gains at current levels rather than chasing the up moves. Fresh purchases must be kept limited in stocks with strong technical setups and the presence of relative strength. A cautiously positive approach is advised for the coming Rotation Graphs (RRG) show that the Nifty PSU Bank Index continues to build on its relative momentum while staying inside the leading quadrant. It may continue outperforming the markets relatively. The Infrastructure, Consumption, and PSE Index are also inside the leading quadrant but are seen giving up on their relative Nifty Bank Index has rolled inside the weakening quadrant. The Nifty Services Sector, Financial Services, and Commodity Indice are also inside the weakening quadrant. Individual performance of components from these groups may be seen, but overall relative performance may slow down over the coming Nifty FMCG Index has rolled inside the lagging quadrant. The Nifty Metal and Pharma Indice are languishing in this quadrant. The Nifty IT index is also inside the lagging quadrant, but is seen in a strong bottoming-out process while improving its relative Nifty Energy, Media, Realty, and Auto Indices are inside the improving quadrant and may continue improving their relative performance against the broader Note: RRG™ charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at
