logo
Gold Price Prediction: Easing geopolitical tensions drag prices down by Rs 1,600/10 grams this week. Trading strategies explained

Gold Price Prediction: Easing geopolitical tensions drag prices down by Rs 1,600/10 grams this week. Trading strategies explained

Economic Times9 hours ago

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trade Setup June 27: Nifty eyes 26,000; bullish momentum expected to continue
Trade Setup June 27: Nifty eyes 26,000; bullish momentum expected to continue

Hans India

timean hour ago

  • Hans India

Trade Setup June 27: Nifty eyes 26,000; bullish momentum expected to continue

The Nifty 50 surged for the third consecutive session on Thursday, climbing 304 points to close at 25,549—its highest in nearly nine months. The sharp upward move marked a decisive breakout from its two-month trading range of 24,500–25,200. Analysts believe this momentum could propel the index toward 25,800–26,000 in the coming days. Intraday dips were swiftly bought into, showing strong bullish sentiment, especially on the day of the monthly expiry. The broader market mirrored this optimism, with the Nifty Midcap 100 up 0.59% and the Nifty Smallcap 100 gaining 0.42%. Sectorally, metals, oil & gas, and financial services led the rally. Nifty Metal rose 2.3%, fueled by a drop in Brent crude to $66 per barrel and a weakening US dollar, which hit a three-year low below the 97 mark. In contrast, the media, realty, and IT sectors ended in the red. Domestic cues also played a role. A strong start to the monsoon season—with rainfall 4% above the long-period average—lifted hopes for agri, rural, and consumer-facing sectors. Defence stocks may also stay in focus due to India's increasing manufacturing alignment with Europe and an export target of ₹50,000 crore by 2029. Siddhartha Khemka of Motilal Oswal expects the bullish momentum to persist, backed by stable domestic indicators and a supportive global backdrop. Nagaraj Shetti of HDFC Securities noted that the breakout has opened the path for the Nifty to test 25,800–26,000 in the near term, with immediate support seen at 25,400. Rupak De of LKP Securities echoed the positive sentiment, saying the index's breakout above consolidation signals strong optimism. With resistance seen only around 25,700–25,750, the upside may continue, barring a drop below 25,300.

LIC Mutual Fund trims long-term bond holdings as rate-cut rally ends
LIC Mutual Fund trims long-term bond holdings as rate-cut rally ends

Economic Times

time2 hours ago

  • Economic Times

LIC Mutual Fund trims long-term bond holdings as rate-cut rally ends

LIC Mutual Fund is lowering maturities across debt schemes and investing in up to five-year notes, as India's rate cut-led bond market rally is largely over, chief investment officer at the asset manager said on Thursday. ADVERTISEMENT Earlier this month, India's central bank slashed its key policy rate by a larger-than-expected 50 basis points, but also changed its policy stance to "neutral", leading to expectation that the rate-cutting cycle is coming to a close. "We are trimming duration across schemes. The big part of the rally is over and with the current geopolitical scenario we have to be a bit cautious," Marzban Irani, whose fund house manages debt worth 220 billion rupees ($2.6 billion), said in an interview. Irani, however, does not rule out one more India rate cut as the Federal Reserve should also ease rates later in the year. The fund manager is not very bullish on India's 10-year government bond, which he says should trade in a range of 6.15% to 6.30% over the medium-term against 6.26% on Thursday. The 10-year yield fell nearly 50 basis points after India's first rate cut in February through June 6, when the central bank surprised with the change in stance. Since then, it has risen 4 basis points. ADVERTISEMENT Prateek Shroff, a fund manager at LIC Mutual Fund, said that bank-issued one-year certificates of deposit are trading at 6.40%-6.50%, "a very good accrual" over the policy repo rate of 5.50%. "When the market is in passive mode, the shorter-end will continue to remain in demand," Shroff said. ADVERTISEMENT Shroff also expects one more rate cut this year, probably in October or December. Short-term bond yields should remain contained despite the central bank's announcement of an operation to withdraw cash from the banking system, the fund managers said. ADVERTISEMENT "Yields can harden 5-10 bps on the shorter end because of this but then the market will settle down," Shroff said. LIC Mutual Fund is also comfortable with corporate bonds of two-to-three years due to their attractive returns over overnight funding rates, according to Shroff. ($1 = 85.8070 Indian rupees) (You can now subscribe to our ETMarkets WhatsApp channel)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store