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Time of India
a day ago
- Business
- Time of India
Indian Stocks: Indices declines 0.7% amid rising oil prices and geopolitical tensions
ADVERTISEMENT Mumbai: India's equity indices ended 0.7% lower on Friday after falling as much as 1.6% earlier in the day after Israel's strikes on Iran raised fears of supply disruption of crude oil and a wider conflict in the Middle East. Brent Crude Futures jumped over 7% to $74.6 per barrel on said the underlying bullish undertone helped the market cut a portion of its losses in Friday's trading session. "Despite the bearish news flows, the decline in the market was limited as benchmark Nifty held the key support level of 24,460 and recovered the losses made in the early trading session," said Akshay Chinchalkar, head of research, Axis NSE Nifty fell 0.7%, or 169.60 points, to finish at 24,718.60. The BSE Sensex moved 0.7%, or 573.38 points, lower at 81,118.60. Both indices declined by over 1% each in the past five trading has launched unprecedented strikes on Iran, targeting its nuclear programme and military leaders. The event sent oil prices soaring on worries that an escalation could disrupt supplies from the oil-rich region. Iran is one of the world's biggest oil producers. Brent crude has surged about 14% in the past two home, the Volatility Index or VIX-the market's fear gauge-gained 7.6% to 15.08 on Friday, indicating traders expect higher risks in the near do not expect a bigger slide unless key support levels of 24,450-24,500 are breached."Till the support levels are intact, any declines are expected to be bought into," said Ruchit Jain, vice president- head, technical research, Motilal Oswal Financial Services . "Nifty is likely to witness time-wise correction and struggle to move above 25,000 to 25,200 levels."The Nifty Mid-cap 150 and the Small-cap 250 indices declined 0.4% each. In the past week, the mid-cap index shed 1.2% while the small-cap index fell 0.44%. Out of the 4,122 shares traded on the BSE, 1,401 advanced, while 2,595 declined. Foreign portfolio investors (FPIs) sold shares worth a net of ₹3,831 crore on Friday. Their domestic counterparts sold shares worth ₹9,394 crore. In June, overseas investors sold shares worth ₹5,079.8 crore.
Economic Times
a day ago
- Business
- Economic Times
Indices declines 0.7% amid rising oil prices and geopolitical tensions
Live Events Agencies (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: India's equity indices ended 0.7% lower on Friday after falling as much as 1.6% earlier in the day after Israel's strikes on Iran raised fears of supply disruption of crude oil and a wider conflict in the Middle East. Brent Crude Futures jumped over 7% to $74.6 per barrel on said the underlying bullish undertone helped the market cut a portion of its losses in Friday's trading session. "Despite the bearish news flows, the decline in the market was limited as benchmark Nifty held the key support level of 24,460 and recovered the losses made in the early trading session," said Akshay Chinchalkar, head of research, Axis NSE Nifty fell 0.7%, or 169.60 points, to finish at 24,718.60. The BSE Sensex moved 0.7%, or 573.38 points, lower at 81,118.60. Both indices declined by over 1% each in the past five trading has launched unprecedented strikes on Iran, targeting its nuclear programme and military leaders. The event sent oil prices soaring on worries that an escalation could disrupt supplies from the oil-rich region. Iran is one of the world's biggest oil producers. Brent crude has surged about 14% in the past two home, the Volatility Index or VIX-the market's fear gauge-gained 7.6% to 15.08 on Friday, indicating traders expect higher risks in the near do not expect a bigger slide unless key support levels of 24,450-24,500 are breached."Till the support levels are intact, any declines are expected to be bought into," said Ruchit Jain, vice president- head, technical research, Motilal Oswal Financial Services . "Nifty is likely to witness time-wise correction and struggle to move above 25,000 to 25,200 levels."The Nifty Mid-cap 150 and the Small-cap 250 indices declined 0.4% each. In the past week, the mid-cap index shed 1.2% while the small-cap index fell 0.44%. Out of the 4,122 shares traded on the BSE, 1,401 advanced, while 2,595 declined. Foreign portfolio investors (FPIs) sold shares worth a net of ₹3,831 crore on Friday. Their domestic counterparts sold shares worth ₹9,394 crore. In June, overseas investors sold shares worth ₹5,079.8 crore.
Time of India
23-04-2025
- Business
- Time of India
Bullish momentum brewing? 80% of NSE500 stocks now above 50-day average, says Axis Securities
Indian equities rallied for the seventh day, with 80% of NSE500 stocks above their 50-DMA, signaling broad bullish momentum. Historical data suggests continued gains, though technical warnings urge caution. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's equity markets extended their winning streak for a seventh consecutive session on Wednesday, with a bullish breadth signal flashing across the broader market. According to Axis Securities, more than 80% of the stocks in the NSE500 index closed above their 50-day moving average—a technical threshold that historically suggests broad-based positive Securities noted that this level of market breadth—defined by a high proportion of stocks trading above their 50-day moving average—has occurred 41 times in the past decade. In 75% of those instances, the NSE500 index posted gains over the next 20 trading sessions. The average return on these winning outcomes was 2.8%, while the average loss on the remaining cases was 2.0%. Overall, the average return stood at 1.6%.'This shift suggests that price action and investor sentiment are turning bullish across a broad set of stocks, not just the index heavyweights,' said Axis brokerage added that this could be a good time for investors to reassess their strategy or add to existing winning positions, especially as breakout opportunities emerge in the broader bullish technical signal comes amid sustained gains in Indian equities. On Wednesday, the benchmark BSE Sensex rose 520.90 points, or 0.65%, to close at 80,116.49, reclaiming the 80,000 mark for the first time since the recent correction. The broader Nifty 50 index advanced 161.70 points, or 0.67%, to end at 24, Sensex and Nifty have each surged over 8% in the past seven sessions, supported by renewed foreign institutional investment and easing global trade concerns. Market participants have also been encouraged by expectations that U.S. tariffs under the Trump administration will not adversely impact Indian despite the current bullishness, some technical indicators are beginning to flash early warnings. 'The Nifty remained volatile after an optimistic start, supported by positive global cues,' said Rupak De, Senior Technical Analyst at LKP pointed out that a Hanging Man candlestick pattern formed on the daily chart, which often serves as a cautionary signal during an uptrend. The Relative Strength Index (RSI) is also nearing a potential negative noted that if the Nifty slips below the 24,300 mark, it could correct toward the 24,000–23,900 zone. On the upside, resistance is expected near the 24,450–24,500 the short-term trend remains positive, Axis Securities advised investors to monitor positions closely and look for breakout opportunities amid the broad-based strength. The current setup, supported by historical data, suggests that momentum may continue—though caution is warranted as key resistance levels read | Tariff relief hopes buoy D-Street higher for 7th day; Sensex adds 521 pts, Nifty above 24,300 (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
