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Time of India
11 hours 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
12 hours 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
12 hours ago
- Business
- Time of India
Indices declines 0.7% amid rising oil prices and geopolitical tensions
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 Friday. Analysts 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 Securities. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 23.7% Returns in last 5 years with Shriram Life's ULIP Shriram Life Insurance Undo The 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 sessions. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Israel 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 days. At 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 term. Live Events Agencies Analysts 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
2 days ago
- Business
- Time of India
Shares of OMCs fall, upstream oil cos gain on crude rebound
Mumbai: Shares of oil marketing companies (OMCs) Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL) tumbled 4-6% on Thursday, while upstream companies Oil India and ONGC closed higher after global crude prices firmed up, fuelled by heightened tensions between the US and Iran. HPCL and BPCL dropped 5.9% and 4.4%, respectively, on Thursday. Oil India and ONGC eked out modest gains after gaining as much as 5.1% and 3.2% during the day. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo "Rising crude oil prices are expected to put pressure on the gross marketing margins of oil marketing companies like HPCL and BPCL," said Swarnendu Bhushan, co-head of Institutional Research at Prabhudas Lilladher. "These companies are also trading at expensive valuations and are likely to witness a decline in the near term." Upstream companies like ONGC and Oil India benefit from rising crude oil prices as they sell crude - higher prices mean better realisations and improved profit margins. In contrast, oil marketing companies such as HPCL and BPCL, which buy crude and sell refined fuels, see their costs rise when prices rise. Brent Crude Futures spiked 4.3% to a two-month high of $69.8 on Wednesday after US President Donald Trump said US personnel were being moved out of the Middle East, raising fears that escalating tensions with Iran could disrupt supply. Prices retreated 0.8% to $69.23 on Thursday. Live Events "The key reason for the increase in crude oil prices is the escalating geopolitical tensions between the US and Iran, which may lead to supply disruptions," said Sumit Pokharna, vice-president at Kotak Securities. Pokharna said crude prices are not worrisome at current levels of around $68; however, if tensions escalate, there could be a significant jump in prices. Analysts said crude oil prices are anticipated to remain elevated in the near term, given the geopolitical concerns, which could lead to further declines in OMC stocks and upside for upstream companies like Oil India and ONGC.
