Latest news with #AjayBagga
India Gazette
3 hours ago
- Business
- India Gazette
Indian stock markets open higher, all major indices in green, Nifty around 24,700
Mumbai (Maharashtra) [India], June 5 (ANI): The Indian stock indices opened higher on Thursday despite mixed global cues. The market experts believe that the investors are buoyed by the hopes of developments in the India-US trade deal and a rate cut by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI). At the opening of the trading session today, the Sensex was up 26.22 points or 0.03 per cent, at 81,024.47, and the Nifty 50 at the National Stock Exchange (NSE) was up 8.65 points or 0.04 cent, at 24,628.85. The stocks of Dr Reddy's Labs, Eternal, Shriram Finance, Power Grid Corp, and Cipla were among the major gainers on the Nifty, while Tata Consumer, Nestle, Titan Company, Axis Bank, and SBI Life Insurance were losers. At the opening, all the sectoral indices are trading in the green at the NSE. On BSE, the Midcap index was up 0.3 per cent and the smallcap index was up 0.6 per cent. 'Indian markets are also sideways, with the RBI MPC meet outcome on Friday being watched closely. The consensus expectation is for a 25 bps rate cut by an accommodative stance positioned RBI,' said Ajay Bagga, Banking and Market expert. On the investment front, good news for the financial markets is that foreign portfolio investors (FPIs) have turned net sellers in Indian stock markets for the second straight month in May. FPIs had fuelled the latest bull run in the stock market after a sharp slump. May global foreign portfolio investment (FPI) flow numbers are showing India as a top inflow destination. May inflows were led by Taiwan (USD 7.5 bn inflows), India (USDMumbai (Maharashtra) [India], June 5 (ANI): 2.3 bn inflows ) and Brazil (USD 2 bn inflows) out of a total EM ex-China inflow of USD 13.3 bn in May. 'Looking at YTD FPI flows, India has seen outflows of $9.9 bn out of a total $40 bn outflow YTD from all EM ex China. The May inflows, along with the 9% fall in the US dollar index YTD, are raising hopes for a gradual revival in FPI flows to the EMs. India, which made up around a quarter of inflows YTD, should benefit from the FPI flow turnaround,' he added. Observing the market moves, Akshay Chinchalkar, Head of Research, Axis Securities, added, 'The Nifty ended higher yesterday and the India vix fell nearly 5%, which bulls would have liked to see. 24462 remains intact and that's keeping optimism alive. Should this level break, the market will most likely drop to key support at -23800. Short-term resistance sits between 24760 and 24882. Globally, stock bulls have tailwinds.' Going ahead, investors now await further updates on India-US trade deal negotiations and the RBI monetary policy outcome on Friday. Indian stock markets outperformed global markets over the past few weeks, as volatility continued to reign in global markets over possible forthcoming US reciprocal tariffs. A comfortable inflation number in India also somewhat supported the domestic equity indices. (ANI)
Mint
7 hours ago
- Business
- Mint
Indian stock markets open higher, all major indices in green, Nifty around 24,700
Mumbai [India], : The Indian stock indices opened higher on Thursday despite mixed global cues. The market experts believe that the investors are buoyed by the hopes of developments in the India-US trade deal and a rate cut by the Monetary Policy Committee of the Reserve Bank of India . At the opening of the trading session today, the Sensex was up 26.22 points or 0.03 per cent, at 81,024.47, and the Nifty 50 at the National Stock Exchange was up 8.65 points or 0.04 cent, at 24,628.85. The stocks of Dr Reddy's Labs, Eternal, Shriram Finance, Power Grid Corp, and Cipla were among the major gainers on the Nifty, while Tata Consumer, Nestle, Titan Company, Axis Bank, and SBI Life Insurance were losers. At the opening, all the sectoral indices are trading in the green at the NSE. On BSE, the Midcap index was up 0.3 per cent and the smallcap index was up 0.6 per cent. "Indian markets are also sideways, with the RBI MPC meet outcome on Friday being watched closely. The consensus expectation is for a 25 bps rate cut by an accommodative stance positioned RBI," said Ajay Bagga, Banking and Market expert. On the investment front, good news for the financial markets is that foreign portfolio investors have turned net sellers in Indian stock markets for the second straight month in May. FPIs had fuelled the latest bull run in the stock market after a sharp slump. May global foreign portfolio investment flow numbers are showing India as a top inflow destination. May inflows were led by Taiwan , India [India], : 2.3 bn inflows ) and Brazil out of a total EM ex-China inflow of USD 13.3 bn in May. "Looking at YTD FPI flows, India has seen outflows of $9.9 bn out of a total $40 bn outflow YTD from all EM ex China. The May inflows, along with the 9% fall in the US dollar index YTD, are raising hopes for a gradual revival in FPI flows to the EMs. India, which made up around a quarter of inflows YTD, should benefit from the FPI flow turnaround," he added. Observing the market moves, Akshay Chinchalkar, Head of Research, Axis Securities, added, "The Nifty ended higher yesterday and the India vix fell nearly 5%, which bulls would have liked to see. 24462 remains intact and that's keeping optimism alive. Should this level break, the market will most likely drop to key support at -23800. Short-term resistance sits between 24760 and 24882. Globally, stock bulls have tailwinds." Going ahead, investors now await further updates on India-US trade deal negotiations and the RBI monetary policy outcome on Friday. Indian stock markets outperformed global markets over the past few weeks, as volatility continued to reign in global markets over possible forthcoming US reciprocal tariffs. A comfortable inflation number in India also somewhat supported the domestic equity indices. This article was generated from an automated news agency feed without modifications to text.
India Gazette
a day ago
- Business
- India Gazette
Indian markets still in consolidation phase, open flat with marginal gains
Mumbai (Maharashtra) [India], June 4 (ANI): Indian stock markets continued to trade in a consolidation phase on Wednesday, opening flat with slight gains. Investors appeared cautious but optimistic, with global developments and upcoming domestic policy decisions influencing market sentiment. The Nifty 50 index opened at 24,560.45, gaining 17.95 points or 0.07 per cent. Similarly, the BSE Sensex also started flat, rising by 40.14 points to open at 80,777.65, a gain of 0.05 per cent. Market experts believe that the cautious momentum in Indian equities is a reflection of global cues and profit-booking by domestic promoters. Ajay Bagga, Banking and Market Expert, told ANI, 'Hopes are rising for announcement of trade deals and for a Trump-Xi call later this week which could set the stage for some US-China detente on trade and tariffs.' He added that the US markets have stayed resilient, rising for the second straight session despite concerns around tariffs, as retail investors continue to buy on dips. Bagga pointed out that Indian markets are also responding to mixed signals. 'India has seen over USD 5 billion in sales by promoters taking money off the table, which is a bit sobering for market sentiment. However, in a USD 5 trillion market, this is small change in the overall perspective,' he said. Foreign Portfolio Investor (FPI) activity has also remained weak. FPI numbers have been negative for the first two days of the week due to block deals, which remain a headwind for the markets. However, the anticipation of a rate cut by the Reserve Bank of India (RBI) on Friday is lending support to the bullish sentiment. 'India's attractiveness as a strong macro with an easing monetary bias, with RBI expected to cut rates on Friday once more, stays a strong factor,' Bagga said. In the broader market, indices were trading positive. The Nifty 100 gained 0.18 per cent, Nifty Midcap rose by 0.25 per cent, and Nifty Smallcap advanced by 0.29 per cent. Meanwhile, market volatility declined as the India VIX index dropped by 1.54 per cent. Sector-wise, all sectors on the NSE opened with gains except Nifty Consumer Durables, which saw a marginal decline. Nifty Auto gained 0.32 per cent, Nifty FMCG rose by 0.23 per cent, and Nifty IT was up by 0.19 per cent. Nifty Media and Nifty Pharma each gained 0.25 per cent and 0.26 per cent respectively. Nifty Metal was flat but ended slightly higher with a gain of 0.5 per cent. With global cues remaining mixed and RBI's policy announcement around the corner, markets may continue this range-bound movement in the coming sessions. (ANI)
Mint
a day ago
- Business
- Mint
Indian markets still in consolidation phase, open flat with marginal gains
Mumbai (Maharashtra) [India], June 4 (ANI): Indian stock markets continued to trade in a consolidation phase on Wednesday, opening flat with slight gains. Investors appeared cautious but optimistic, with global developments and upcoming domestic policy decisions influencing market sentiment. The Nifty 50 index opened at 24,560.45, gaining 17.95 points or 0.07 per cent. Similarly, the BSE Sensex also started flat, rising by 40.14 points to open at 80,777.65, a gain of 0.05 per cent. Market experts believe that the cautious momentum in Indian equities is a reflection of global cues and profit-booking by domestic promoters. Ajay Bagga, Banking and Market Expert, told ANI, "Hopes are rising for announcement of trade deals and for a Trump-Xi call later this week which could set the stage for some US-China detente on trade and tariffs." He added that the US markets have stayed resilient, rising for the second straight session despite concerns around tariffs, as retail investors continue to buy on dips. Bagga pointed out that Indian markets are also responding to mixed signals. "India has seen over USD 5 billion in sales by promoters taking money off the table, which is a bit sobering for market sentiment. However, in a USD 5 trillion market, this is small change in the overall perspective," he said. Foreign Portfolio Investor (FPI) activity has also remained weak. FPI numbers have been negative for the first two days of the week due to block deals, which remain a headwind for the markets. However, the anticipation of a rate cut by the Reserve Bank of India (RBI) on Friday is lending support to the bullish sentiment. "India's attractiveness as a strong macro with an easing monetary bias, with RBI expected to cut rates on Friday once more, stays a strong factor," Bagga said. In the broader market, indices were trading positive. The Nifty 100 gained 0.18 per cent, Nifty Midcap rose by 0.25 per cent, and Nifty Smallcap advanced by 0.29 per cent. Meanwhile, market volatility declined as the India VIX index dropped by 1.54 per cent. Sector-wise, all sectors on the NSE opened with gains except Nifty Consumer Durables, which saw a marginal decline. Nifty Auto gained 0.32 per cent, Nifty FMCG rose by 0.23 per cent, and Nifty IT was up by 0.19 per cent. Nifty Media and Nifty Pharma each gained 0.25 per cent and 0.26 per cent respectively. Nifty Metal was flat but ended slightly higher with a gain of 0.5 per cent. With global cues remaining mixed and RBI's policy announcement around the corner, markets may continue this range-bound movement in the coming sessions. (ANI)
Mint
2 days ago
- Business
- Mint
Indian indices declines for 3rd consecutive day, Sensex-Nifty ends in red, Realty up 1%
Mumbai (Maharashtra) [India], June 3 (ANI): Indian stock indices ended lower on Tuesday, with both Sensex and Nifty 50 tumbling in red territory. The benchmarks declined for the third consecutive session today. Ajay Bagga, a banking and market expert, told ANI, "Fiscal worries, geopolitical tensions, and tariff uncertainty are the defining trends for global markets." He added that these factors are making markets very difficult to predict, with policy-related news becoming the main driver. Observing the markets, VLA Ambala, Co-Founder of Stock Market Today, said, "Donald Trump's tariff policies have led to a slowdown in both the US and global economies." "Trump's policies and the slowing global economy have also affected India, impacting our GDP growth, export flow, and performance of small-cap companies. On technical charts, the Nifty 50 formed a bearish engulfing pattern on the daily time frame," she added. At the end of today's session, BSE Sensex declined 636.24 points or 0.78 per cent, at 80,737.51, and the Nifty 50 at the National Stock Exchange (NSE) was down 174.10 points or 0.70 per cent, at 24,542.50. The sectoral indices of banks, capital goods, consumer durables, IT, oil & gas, power, private bank, PSU banks declined between 0.5 and 1 per cent. Among the gainers in indices, the Realty rose 1 per cent during the trading. As per Ambala, 24,430 level of Nifty will be the key level to watch tomorrow and appear as a make-or-break point for the benchmark index. Today, the index's RSI stood at 50, and it plunged by 3.75% due to the lack of major market triggers. "Nifty formed an engulfing bearish candle closing near its support of 24500 levels. The index has been very volatile today, as it started on a positive note while dropping to a day low near its support and then again bounced back from the support," said Dr Praveen Dwarakanath, Vice President of Hedged in. He added that the index is bouncing every time from the 24500 level, indicating strong support at the 24500 level. Earlier, the Indian stock markets opened on a cautious but positive note on Tuesday, tracking mixed global cues amid rising concerns over tariffs, geopolitical tensions, and fiscal worries in the US economy. (ANI)
