Latest news with #GiftNifty
India Today
2 days ago
- Business
- India Today
Stock market opening: Sensex, Nifty likely to open higher today. Here's why
The stock market is expected to open higher on Friday, supported by strong buying from foreign investors and hopes of faster growth in the economy. This comes ahead of the release of the GDP data, which is due later in the 8:14 am, Gift Nifty futures were trading at 24,950, suggesting a positive start above Thursday's Nifty50 close of 24,833.6. This indicates that markets may open with gains in early expert VLA Ambala, Co-Founder of Stock Market Today (SMT), said that if the Nifty 50 index moves above 24,900, it may show bullish momentum as several stocks are expected to be in focus. She added, 'If the Nifty 50 breaks its immediate support level at 24,690 during the next intraday trading session, a sell-off could push prices down to 24,600 and possibly 24,470. If there is a breakout above 24,820, it could create an opportunity for intraday long positions. A gap opening of 0.75% to 1% will create immediate buying opportunities at support levels. On the other hand, a selling opportunity will arise if the market opens at a resistance level.'In recent sessions, markets have been quite volatile, swinging between gains and losses. However, on Thursday, both Sensex and Nifty managed to close higher, with gains of nearly 0.5%.STRONG FOREIGN INFLOWS CONTINUEForeign portfolio investors (FPIs) bought Indian shares worth Rs 884 crore on Thursday. This was the fifth day in a row that FPIs remained net buyers. So far in May, net foreign inflows have touched nearly Rs 21,700 crore or around $2.6 billion. If this trend continues, May could turn out to be the best month for foreign inflows since September 2024, a time when benchmark indices had hit record institutional investors (DIIs) have also supported the market. They have been net buyers for eight straight trading sessions. This steady buying by both foreign and domestic investors has helped improve market GAINS FOR NIFTYSo far this month, the Nifty 50 has risen around 2%, and if gains hold, the index is set for a third straight month of growth. This rise has been helped by strong earnings reported by many companies for the March quarter, as well as reduced worries over global trade are also hopeful that the Reserve Bank of India may consider reducing interest rates in the upcoming policy meeting next week, especially as inflation appears to be ON GDP DATALater today, the Indian government will release its GDP figures for the January–March quarter. Many experts believe the economy grew faster during this growth is expected to have been driven by increased rural demand and higher government spending. However, private investment is still low due to uncertainty in global the United States, stock markets ended higher overnight after a court ruling brought back former President Donald Trump's tariffs, which had been blocked earlier. This created some unease in global trade circles, but U.S. markets held up Asia, broader markets opened on a weaker note. The MSCI Asia ex-Japan index was down 0.5% in early trade, after rising 0.6% in the previous session. This shows that global markets are still reacting to trade-related The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
Business Recorder
2 days ago
- Business
- Business Recorder
Indian shares set to open higher on strong inflows, growth optimism
Indian benchmark indexes are poised to open higher on Friday, supported by robust institutional inflows and expectations of faster domestic economic growth ahead of GDP data due later in the day. Gift Nifty futures were trading at 24,950, as of 8:14 a.m. IST, indicating a firm start above the Nifty 50's close of 24,833.6 on Thursday. Foreign portfolio investors (FPI) purchased Indian shares worth 8.84 billion rupees ($103.5 million) on Thursday, marking their fifth consecutive session of net purchases. With $2.6 billion in net foreign inflows so far in May, FPI buying is on track to hit its highest monthly total since September 2024, when benchmark indexes hit record peaks. Meanwhile, domestic institutional investors (DII) have been net buyers of Indian shares for eight consecutive sessions. Sustained institutional support, sequential improvement in March quarter earnings, and easing global trade concerns have lifted the Nifty 50 by 2% month-to-date, setting up the index for a third straight monthly gain. Investor sentiment is also buoyed by expectations of an economic recovery and potential rate easing by the Reserve Bank of India next week, analysts said. Financials, IT stocks weigh on Indian equity benchmarks India's economic growth is likely to have accelerated in the January–March quarter, driven by stronger rural demand and increased government spending, despite cautious private investment amid global uncertainty. The GDP data will be released after market hours on Friday. Wall Street equities closed higher overnight as markets digested a court ruling that reinstated the most sweeping of U.S. President Donald Trump's tariffs. The ruling came just a day after a U.S. trade court had ordered a block on the same measures. Broader Asia markets opened weaker, with the MSCI Asia ex-Japan index losing 0.5% after a 0.6% gain in the previous session.
Mint
2 days ago
- Business
- Mint
Indian stock market: 8 key things that changed for market overnight - Gift Nifty, Trump Tariffs to US GDP
Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open lower on Friday following weak sentiment in global markets. Asian markets traded lower, while the US stock market ended higher overnight after an appeals court reinstated President Donald Trump's reciprocal tariffs. On Thursday, the Indian stock market ended higher led by fag-end buying in select blue-chip stocks. The Sensex gained 320.70 points, or 0.39%, to close at 81,633.02, while the Nifty 50 settled 81.15 points, or 0.33%, higher at 24,833.60. 'In the absence of any major domestic triggers, participants should continue to closely monitor global markets and the performance of banking and financial majors for cues on the next directional move. Meanwhile, with ample short-term trading opportunities available across sectors, the focus should remain on stock selection and gradually accumulating fundamentally strong counters during this phase,' said Ajit Mishra – SVP, Research, Religare Broking Ltd. Here are key global market cues for Sensex today: Asian markets traded lower on Friday as sentiment weakened amid uncertainties over the judicial developments surrounding the US President Donald Trump's 'reciprocal' tariffs. Japan's Nikkei 225 fell 1.55%, while the Topix index declined 1%. South Korea's Kospi index dropped 0.4%, while the Kosdaq fell 0.44%. Hong Kong's Hang Seng index futures indicated a weaker opening. Gift Nifty was trading around 24,940 level, a discount of nearly 2 points from the Nifty futures' previous close, indicating a muted start for the Indian stock market indices. US stock market ended higher on Thursday as investors digested a court ruling that reinstated the most sweeping of President Donald Trump's tariffs. The Dow Jones Industrial Average gained 117.03 points, or 0.28%, to 42,215.73, while the S&P 500 rose 23.62 points, or 0.40%, to 5,912.17. The Nasdaq Composite closed 74.93 points, or 0.39%, higher at 19,175.87. Nvidia share price rallied 3.2%, Tesla stock price rose 0.43%, and Boeing shares gained 3.3%. Salesforce stock declined 3.3%, while Best Buy shares plunged 7.3%. A federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs. The United States Court of Appeals for the Federal Circuit in Washington said it was pausing the lower court's ruling to consider the government's appeal. The US economy contracted less than estimated in the first three months of this year. US GDP (gross domestic product) decreased at an annual rate of 0.2% in the January to March period, slightly less than the initial estimates of a 0.3% decline. It was still a sharp departure from 2.4% growth in the final quarter of 2024, confirming a first contraction since 2022. President Trump called Federal Reserve Chair Jerome Powell to the White House and told the central bank chief he was making a 'mistake' by not lowering interest rates. 'Chair Powell did not discuss his expectations for monetary policy,' the Fed said in a statement after the meeting, 'except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook.' The number of Americans filing new applications for jobless benefits increased more than expected last week and the unemployment rate appeared to have picked up in May. Initial claims for state unemployment benefits rose 14,000 to a seasonally adjusted 240,000 for the week ended May 24. Economists polled by Reuters had forecast 230,000 claims for the latest week. Japan's factory output fell in April by 0.9% from the previous month, better than a median market forecast for a 1.4% drop. Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect seasonally adjusted output to increase 9.0% in May and decline 3.4% in June. Japanese retail sales rose 3.3% in April from a year earlier, more than the median market forecast for a 3.1% increase. Jobless rate in April was unchanged at 2.5% from last month, as against the median forecast of 2.5%. (With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Recorder
3 days ago
- Business
- Business Recorder
India's equity benchmarks eye positive open after US court blocks Trump tariffs
India's benchmark indexes are poised for a positive open on Thursday, tracking gains in broader Asian peers and Wall Street futures, as investors cheered a U.S. federal court's decision to block President Trump's proposed 'Liberation Day' tariffs. Gift Nifty futures were trading at 24,837.5, as of 8:09 a.m. IST, indicating a firm start above the Nifty 50's close of 24,752.45 on Wednesday. The Court of International Trade ruled that President Trump exceeded his authority with the proposed tariff plan. Although the White House has appealed the decision, the ruling raised hopes that Trump may scale back from imposing the highest tariff levels he had threatened, lifting global risk sentiment. The U.S. court decision also boosted the U.S. dollar, while safe-haven gold edged lower as investor risk appetite improved. Asian shares and Wall Street futures advanced, supported by chipmaker Nvidia's quarterly sales beat and positive revenue outlook released after U.S. market hours. Financials, IT stocks weigh on Indian equity benchmarks Meanwhile, minutes from the latest Federal Reserve meeting revealed concerns about inflation risks tied to Trump's trade policy. Market pricing now sees only a 22% chance of a July rate cut, while the probability for a September cut stood at 60%, having been fully priced a month ago. Back home, the Nifty 50 has shed 0.4% over the past three sessions, consolidating near the 25,000 mark. The index has gained 1.7% in May, on track for its third consecutive monthly gain, supported by robust foreign portfolio investor (FPI) inflows and sequential earnings growth in the March quarter. FPIs net bought 46.63 billion rupees ($546 million) in equities on Wednesday, pushing total May inflows near $2 billion. While the market construct remains positive, volatility is expected to remain elevated through the day amid the monthly derivatives expiry, as traders roll over or square off their positions, two analysts said.
Mint
3 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on May 29 after Trump's tariffs blocked
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Thursday, tracking positive cues from global markets. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,843 level, a premium of nearly 80 points from the Nifty futures' previous close. Sentiment in the global markets improved after the Manhattan-based Court of International Trade blocked President Donald Trump from imposing tariffs on countries under emergency powers law. On Wednesday, the domestic equity market ended lower for the second consecutive session, with the benchmark Nifty 60 The Sensex dropped 239.31 points, or 0.29%, to close at 81,312.32, while the Nifty 50 settled 73.75 points, or 0.30%, to lower at 24,752.45. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex hovered between 81,200 and 81,600 on Wednesday and formed a small bearish candle on daily charts, which indicates indecisiveness between the bulls and the bears. 'We believe that the intraday market texture is non-directional; perhaps traders are waiting for a breakout on either side. For day traders, now, 81,600 would be the immediate breakout level. Above this, Sensex is likely to retest the levels of 82,100 – 82,500. On the other hand, below 81,200 could accelerate selling pressure, with support levels at 80,800 – 80,400,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. In the derivatives space, the highest Call open interest (OI) was at the 25,000 strike, while the highest Put OI stood at 24,500, suggesting a likely near-term range between 24,500 and 25,000. Market participants should continue monitoring global cues and domestic macro data for further direction, said Mandar Bhojane, Equity Research Analyst at Choice Broking. Nifty 50 declined 0.30% to end at 24,752.45 on May 28, forming a modest bearish candle. 'Nifty 50 failed to reclaim the 9 EMA and drifted closer to the 20 EMA, reflecting sustained selling pressure at higher levels. A double top pattern has emerged near the 25,000 zone, where the index has repeatedly faced rejection. However, Nifty 50 has not yet breached the recent swing low of 24,460, but weakness still persists. The 23.6 percent Fibonacci retracement, placed near 24,312, may serve as a meaningful support if the decline deepens,' said Om Mehra, Technical Research Analyst, SAMCO Securities. According to him, a decisive move above the 25,000 - 25,020 is still essential for the continuation of bullish set up. Until that occurs, the index remains vulnerable to further downside. The current tone appears cautious, with neither the bulls nor the bears taking full control. Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. highlighted that the Nifty 50 index formed a red candle on the daily chart, indicating weakness. 'However, it continues to trade above its 21-Day Exponential Moving Average (21-DEMA), which is positioned near 24,570. As long as the index holds above this level, the probability of a pullback move cannot be ruled out. On the upside, the index is likely to face strong resistance near the 25,000 – 25,100 zone,' Yedve said. Dr. Praveen Dwarakanath, Vice President of said that the Nifty 50 continues to be range bound between 24,500 and 25,150 levels, with sell near higher levels and buy near dips. 'The higher timeframe momentum is still suggesting an upside, thus yesterday's fall is an opportunity to go long. The fall has pushed the stochastics on hourly charts to an oversold region suggesting a possible bounce from the current levels,' Dwarakanath said. Bank Nifty gained 64.20 points, or 0.12%, to close at 55,417.00 on Wednesday, forming a small-bodied green candle amid a narrow trading range. 'Bank Nifty index during the current week tested the upper band of the last 4 weeks consolidation range placed around 55,800 - 56,000 levels. Overall, we expect the Bank Nifty index to extend the last 4 weeks' consolidation in the broad range of 56,000 - 53,500. Only a move above 56,000 levels will signal acceleration of the up move towards 56,700 levels in the coming sessions,' said Bajaj Broking Research. According to the brokerage firm, immediate support is placed at 54,800 levels, while short-term support is seen at 54,000 - 53,500 being the confluence of key retracement and 50 days EMA. Om Mehra believes that the index remains supported above its rising trendline on the daily chart and the midline of the Bollinger Bands, indicating that short-term support is still intact. The resistance remains near the upper band, around 55,900, which may limit the upside attempts. 'The RSI stands at 59, while the MACD remains skewed to the downside. A breakout above 55,900 would signal fresh bullish momentum, with the potential to test lifetime highs. On the downside, 54,980 remains immediate support, followed by 54,400 if selling pressure intensifies,' said Mehra. Hrishikesh Yedve said that the Bank Nifty index formed a small green candle on the daily chart, indicating strength. 'On the upside, it is still facing resistance near the 56,000 – 56,100 zone. On the downside, 21-DEMA support is placed near 54,830. As long as the index remains above this level, it could attempt a relief rally towards 56,000 levels,' Yedve said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
