Latest news with #Bagga
Time of India
3 days ago
- Business
- Time of India
FPIs pull Rs 8,749 crore from stock market in June's first week; sharp reversal after RBI rate cut; NSDL data shows
NEW DELHI: Foreign Portfolio Investors (FPIs) displayed negative investment patterns in the stock market during the initial week of June. FPIs withdrew a total of Rs 8,749 crore from equities between June 2 and June 6, according to NSDL data. Tired of too many ads? go ad free now This shows that FPIs remained net sellers in the stock market for most of the week. The outflow occurred during a period of global uncertainty and investor caution. A sharp shift was seen on Friday after the Reserve Bank of India's Monetary Policy Committee unexpectedly cut the repo rate by 50 basis points. The repo rate decreased to 5.5%, strengthening investor confidence. Financial analysts suggest that this substantial rate reduction will enhance India's economic performance and strengthen demand conditions. "June first week saw a roller coaster in terms of FPI flows. The trend is positive as a weak US dollar is inversely correlated to EM flows," Banking and Market expert Ajay Bagga told ANI. "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," Bagga added. Despite concerns about elevated stock market valuations, analysts indicate that India's robust growth outlook could help address this issue. May recorded positive net foreign portfolio investment (FPI) inflows of Rs 19,860 crore, establishing it as the strongest month for foreign investment so far this year. In contrast, FPIs had sold equities worth Rs 3,973 crore in March, while January and February saw even higher outflows of Rs 78,027 crore and Rs 34,574 crore, respectively.
India Gazette
6 days 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
6 days 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)
India Gazette
28-05-2025
- Business
- India Gazette
Sensex, Nifty open flat; FMCG, Metal and Consumer durables down, IT, PSU banks and Reality gains
New Delhi [India] May 28 (ANI): Indian stock markets on Wednesday opened flat despite a strong handover from the markets of the United States and Asian peers. At the start of the trading session, BSE Sensex was at 81,457.61, down 94 points or 0.12 per cent, while Nifty 50 at the National Stock Exchange (NSE) started at 24,832.50, up 6.30 points or 0.03 per cent. In the opening hour of the trade at NSE, the Nifty FMCG was down about 1.22 per cent becoming the top loser followed by Metal, Consumer Durables and Auto. Sectors gaining include Nifty IT, up 0.5 per cent, followed by Nifty PSU bank and Nifty Reality up 0.3 per cent. Experts say that the Investors in the Indian stock markets are witnessing non-directional trading activity. Observing the market's mood, Ajay Bagga Banking and market expert, said, 'Monthly expiry looms on Indian markets. Tuesday saw a very volatile day and we expect Wednesday and Thursday to be likewise.' 'India VIX at 18 levels is elevated but still not at a 'fearful' level for experienced hands who have seen 86 levels on it during the 2008 GFC and 2020 Covid. Rising Covid cases are a slight worry so far; the expectation is that it is a mild variant that is striking with the onset of the rains and will be contained,' he added. As per Bagga, Trump's walk back of his threat on EU tariffs of 50 per cent was the driver for a sharp recovery in US markets, which came back after the Memorial day holiday on Monday. 'Asian markets are up as well, taking the cue from the US markets. US PCE data on Friday is the big data point this week. Rest will be the usual Trump Speak-driven market churns,' Bagga added. Globally, investors' mood looks mixed due to the geopolitical developments. The upcoming week from May 28 to 31, 2025, is poised to deliver several significant economic releases across India, the United States, and China, which could shape global market expectations and investor sentiment. As per the Bajaj Broking Research team added in its note, the investors in the ongoing week will have attention on two key indicators. On May 28, the Industrial Production (YoY) data for April will be released, offering insights into the country's manufacturing momentum and economic activity. Later in the week, on May 30, markets will look to the GDP Quarterly (YoY) figures, a critical barometer of overall economic growth and resilience amid evolving domestic and global conditions. (ANI)
New Indian Express
28-05-2025
- Politics
- New Indian Express
ABVP vandalises DUSU office, alleges NSUI
NEW DELHI: The National Students' Union of India (NSUI) on Tuesday accused the ABVP of vandalising the Delhi University Students' Union (DUSU) office during a chhatra samman yatra. At a press conference, NSUI Delhi in-charge Honey Bagga said, 'The incident of vandalism is a clear reflection of ABVP's frustration.' This desperation stems from the impactful work done by NSUI's DUSU office bearers, President Ronak Khatri and Joint Secretary Lokesh Choudhary, who have raised critical issues about college infrastructure and the rights of Dalit, Adivasi, and backward community students across the University. 'ABVP, a government-backed student union filled with the anti-democratic ideology of the RSS, has never truly represented student interests or addressed real campus issues,' Bagga alleged. Bagga added, 'The RSS-BJP nexus is actively preventing marginalised communities from entering academic spaces, with many reserved seats remaining vacant despite constitutional provisions.' ABVP may resort to violence to push its agenda, but NSUI will continue to raise issues of infrastructure, student facilities, and social justice.
