Stock market weekly wrap: Sensex, Nifty 50 end higher for third week. What to expect from Indian stock market next week?
Indian stock market: Indian indices - Sensex and Nifty 50 - ended the week on a higher note for third week straight on RBI's policy announcement, which took the market by surprise.
After remaining range-bound for most of the week, benchmark indices surged sharply on Friday and settled near the week's high, with the Nifty closing at 25,003 and the Sensex at 82,118.99.
The sectoral performance was generally favorable, with rate-sensitive sectors experiencing robust buying activity. The rally was led by realty, automobile, and banking stocks, driven by optimistic expectations for credit growth and consumer confidence.
Financials and NBFCs also saw gains, supported by the anticipation that lower interest rates will improve borrowing conditions. On the other hand, IT stocks lagged behind due to ongoing global uncertainties, especially in the U.S. and European markets.
Moving ahead, market participants will concentrate on important macroeconomic data for additional insights. Key high-frequency indicators like CPI inflation will be carefully observed to assess demand patterns and anticipate the central bank's future actions.
Furthermore, the status of the monsoon and sowing activities will be tracked because of their impact on rural consumption. Globally, progress in trade talks and fluctuations in U.S. bond yields will remain significant factors shaping investor sentiment.
According to Ajit Mishra – SVP, Research, Religare Broking Ltd, Nifty has once again approached the upper band of its prevailing consolidation range of 24,500–25,100.
' A decisive breakout above 25,200 would mark the beginning of a fresh uptrend, with potential to gradually move toward the 25,600–25,800 zone. On the downside, the 24,400–24,600 range is expected to act as a strong support zone during any corrective phase,' Mishra said.
Meanwhile, speaking on Bank Nifty outlook, Mishra said, ' The banking index has finally broken above the key 56,000 mark after trading in a tight range for over a month. We now expect it to move toward the 58,000 level, making this segment crucial for broader market direction. In case of a dip, the 55,350–56,000 range is likely to provide strong support.'
Market analysts maintain a positive outlook on the markets fueled by RBI's rate cut.
'With the RBI's rate cut and dovish commentary acting as strong tailwinds, we maintain our positive outlook on the markets and suggest continuing with a 'buy on dips' strategy unless the Nifty decisively breaks below 24,600. However, investors should remain selective and focus on fundamentally strong stocks in sectors such as banking, auto, and real estate, which are poised to benefit from lower interest rates. Other sectors may contribute on a rotational basis,' Mishra said.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Gazette
an hour ago
- India Gazette
Bone-crushing Russia sanctions bill could crush US trade Politico
Washington risks isolating itself from top world economies, including key European allies, according to the outlet The passage of a new US sanctions package on Russia could disrupt America's relationships with its biggest trade partners and isolate it from the world's leading economies, Politico reported on Saturday. The proposed bill includes a steep 500% tariff on imports from any country that continues to buy oil, gas, uranium, or other key commodities from Moscow. Among those most affected would be India and China, which together account for approximately 70% of Russian energy exports. Several other nations that import Russian energy and uranium could also be subject to the bill's penalties. Imposing 500% tariffs on Chinese-made imports would likely trigger a surge in consumer prices, severely disrupt supply chains, and potentially push US unemployment to levels associated with a recession, Politico noted. The sanctions could be described as targeting the US itself since the country continues to rely on enriched uranium imports from Russia for its nuclear power sector. And it could effectively isolate the US from many of the world's leading economies, including its European allies, the article says. US Senator Rand Paul wrote in the publication Responsible Statecraft that the bill "essentially amounts to an embargo" and could trigger "economic calamity on a scale never before seen in our country." He added that such punitive measures are unlikely to change Moscow's core strategic goals and only further entrench the US in a "failing" foreign policy approach. The sanctions bill was introduced in early April by a bipartisan group of senators led by Republican Senator Lindsey Graham and Democratic Senator Richard Blumenthal. In addition to 500% tariffs, the measure includes secondary sanctions targeting countries that maintain commercial ties with Moscow. Graham recently proposed amendments to exempt countries providing military aid to Ukraine from the tariffs. The change would shield the EU, which continues to import gas from Russia. The senator described the bill as "one of the most draconian sanctions bills ever written" and the sanctions as "bone-crushing." Russia has consistently criticized Western sanctions, calling them illegal, and maintains that they have failed to inflict lasting economic damage. In March, Russian President Vladimir Putin said that a total of 28,595 sanctions had been imposed on Russian companies and individuals in recent years - more than the total number on all other countries combined. According to the president, the West sought to eliminate Russia as a competitor, but its economy has only grown more resilient under pressure. (
Time of India
an hour ago
- Time of India
Local Court Lawyers Up In Arms Over Shifting Of 34 Digital Courts
New Delhi: Lawyers from the district courts decided on Saturday to roll back their decision to abstain from work in protest against the shifting of the judges of the 34 digital Negotiable Instruments Act courts to the Rouse Avenue courts. Tired of too many ads? go ad free now A statement released by the All District Courts Bar Association of Delhi on Saturday said that the lawyers' coordination committee met the chief justice of and was assured that all digital courts would function strictly as digital platforms only. The remaining proceedings and judicial work only would be conducted in the regular local courts, the statement said. "Necessary directions are being issued to all presiding officers instructing them not to insist on the physical appearance of any stakeholders, including parties, counsel, police officers, etc, in c+ourt," the statement added. On May 30, high court chief justice Devendra Kumar Upadhyaya inaugurated the 34 digital courts at the Rouse Avenue Courts complex to hear cases under the NI Act. Only judges of these courts will operate from Rouse Avenue, while the staff —readers, ahlmads and stenographers — will operate from their respective districts. The association on Friday, June 6 decided to abstain from work opposing the decision of shiftingthecourts. The digital courts deal with cases related to cheque bounces across six court complexes. The Lok Sabha was informed by the Union law minister in Dec 2024 that Delhi ranked fourth among top five Indian states with regard to NI Act cases and has 4.5 lakh pending cases. A judge in a NI Act court, on average, holds 80 hearings every day. According to the National Judicial Data Grid, until June 7, there were 15.1 lakh cases, of which 31% were cheque bounce cases. Tired of too many ads? go ad free now Last year, advocate Jagriti Jain filed a public interest litigation, highlighting administrative lapses in the digital NI Act court in North district. The petition pointed out the huge pendency of cases as well as connectivity problems of the portal used for digital hearings. In April 2024, a division bench comprising then acting chief justice Manmohan and justice Manmeet Pritam Singh Arora directed steps to be taken to address the issue of digital connectivity and network problems. On May 22 this year, the bench disposed of the Jain's PIL, noting that connectivity issues had been resolved after the registrar general of the high court submitted a report on May 9 outlining the remedial measures taken. A second digital NI Act court was established in the North district and all pending matters were evenly distributed between the two courts. Advocate Parthesh Bhardwaj, who appeared for Jain, told TOI, "As of June, with multiple functioning courts, better cause list management and strengthened technical infrastructure, the average time between hearings at digital NI Act courts in all districts has significantly reduced."
New Indian Express
3 hours ago
- New Indian Express
Embed Indian carbon market in global trade context
The PAT experience Though there are several areas where PAT, launched in 2012, could be implemented better, it has created industry familiarity with a measurement, reporting and verification (MRV) mechanism and a good number of accredited energy auditors. The carbon credit trading scheme (CCTS) will reduce the PAT reporting frequency from three years to an annual basisthereby increasing the spend on the MRV as well as speed of emissions reduction. Absent renewable energy, a majority of industrial emissions emerge out of energy consumption. PAT compliance has entailed over ten years of industry efforts to reduce energy consumption. The low hanging fruit of energy intensity has already been picked. Industry majors have invested in best available technology. Without further investment in technology, can the obligated entities reduce emissions further or will they simply bear the cost of purchasing carbon credits from other better performers? Indian carbon market embedded in global decarbonisation PAT was an autonomous measure to discipline industrial energy consumption. It did not function under any multilateral pressure or even context. CCTS on the other hand will have to respond to linkages and contestation with several carbon markets. CCTS will be a tool to defend Indian industry against cheap imports as well as to gain access to carbon conscious export markets. Building the trade dimension into the Indian Carbon market is imperative to create policy and business opportunities. The PAT experience Though there are several areas where PAT, launched in 2012, could be implemented better, it has created industry familiarity with a measurement, reporting and verification (MRV) mechanism and a good number of accredited energy auditors. The carbon credit trading scheme (CCTS) will reduce the PAT reporting frequency from three years to an annual basis thereby increasing the spend on the MRV as well as speed of emissions reduction. Absent renewable energy, a majority of industrial emissions emerge out of energy consumption. PAT compliance has entailed over ten years of industry efforts to reduce energy consumption. The low hanging fruit of energy intensity has already been picked. Industry majors have invested in best available technology. Without further investment in technology, can the obligated entities reduce emissions further or will they simply bear the cost of purchasing carbon credits from other better performers? Indian carbon market embedded in global decarbonisation PAT was an autonomous measure to discipline industrial energy consumption. It did not function under any multilateral pressure or even context. CCTS on the other hand will have to respond to linkages and contestation with several carbon markets. CCTS will be a tool to defend Indian industry against cheap imports as well as to gain access to carbon conscious export markets. Building the trade dimension into the Indian Carbon market is imperative to create policy and business opportunities.
