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Business Recorder
5 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
7 days ago
- Business
- Mint
Indian shares dip as ITC weighs on benchmarks
By Vivek Kumar M and Bharath Rajeswaran (Reuters) -India's benchmark indexes fell on Wednesday, dragged by a drop in heavyweight ITC, even as positive global cues buoyed broader sentiment. The Nifty 50 was down 0.25% at 24,765.35, while the BSE Sensex traded 0.27% lower at 81,332.03 as of 10:35 a.m. IST. ITC, the sixth heaviest stock in Nifty 50 index, shed about 3% after a large block deal where its largest shareholder British American Tobacco likely pared some stake in the company. The stock was also trading ex-date for a dividend of 7.85 rupees. Consumer goods stocks dropped 1.4%, weighed down by losses in ITC. However, seven of 13 major sectoral indices advanced. Mid-cap and small-cap indices gained 0.2% and 0.3%, respectively The Nifty's retreat near the 25,000 level signals caution, and with the monthly derivatives expiry looming on Thursday, markets are likely to remain choppy in the short term, said Siddhartha Khemka, Head of Research – Wealth Management at Motilal Oswal Financial Services "The U.S. Federal Reserve's policy minutes, due later today, will be crucial for market direction, offering cues on the central bank's outlook amid persistent inflation and fiscal concerns," Khemka said. Life Insurance Corporation of India jumped 7% after it posted higher profit for the fourth quarter, helped by lower employee-related costs. Belrise Industries listed at 100 rupees on the National Stock Exchange, a premium of 11.11% to its issue price of 90 rupees. Bosch fell 3.2% on posting a drop in March quarter profit. It was the top percentage loser in auto index, which fell 0.6%. Other Asian shares rose marginally on the day, with the MSCI Asia ex-Japan adding 0.1%, buoyed by signs of easing trade tensions. [MKTS/GLOB] ($1 = 85.3020 Indian rupees)
Business Recorder
7 days ago
- Business
- Business Recorder
India's equity benchmarks set for muted start; ITC in focus
India's benchmark indexes are likely to open little changed on Wednesday, as positive global sentiment is expected to be offset by fund flows to large block deals and the primary market. Gift Nifty futures were trading at 24,850.5 as of 8:06 a.m. IST, indicating that the Nifty 50 will open near its Tuesday's close of 24,826.2. Asian shares continued an overnight rally on Wall Street, with the MSCI Asia ex-Japan adding 0.3%, buoyed by signs of easing trade frictions between the US and Europe, while US Treasury yields declined. Yields move inversely to prices, and lower yields bode well for equities in emerging markets such as India. Domestic equities were under pressure on Tuesday due to profit booking amid higher valuations, and fund flows shifting to the primary market and large block deals, analysts said. Consumer goods maker ITC will be in focus after British American Tobacco said on Tuesday it intends to sell a 2.3% stake in the company, worth about $1.4 billion in a block trade deal. Financials, IT stocks weigh on Indian equity benchmarks This would be the second major block trade in India this week, after IndiGo co-founder Rakesh Gangwal sold a 5.7% stake in the low-cost carrier worth $1.36 billion. In the primary market, a $409 million initial public offer of Leela hotels-owner Schloss Bangalore will close for subscription later in the day. Foreign investors bought Indian shares worth 3.48 billion rupees ($40.8 million) on Tuesday, as per provisional data, while domestic institutional investors bought stocks worth 101 billion rupees.
India Today
7 days ago
- Business
- India Today
Stock market opening: Sensex, Nifty to slide even more today? Check key levels
The stock market is expected to open flat on Wednesday, after closing in the red during the previous session. While there is some support from global markets, the mood in the domestic market remains cautious due to large block deals and strong interest in the primary Nifty futures were trading at 24,850.5 at around 8:06 am, suggesting that the Nifty50 may start the day close to its previous close of 24, Ambala, Co-Founder of Stock Market Today, said that the key level to watch for today is 24,700."In case of a gap down at the opening, this level will act as a resistance zone, but if there's a gap up, the same level will serve as a support zone. On the other hand, in case of a flat opening, we can expect Nifty to gain support at 24,630, 24,550, or 24,470 and face resistance near 24,850 and 24,980," she added. Asian markets continued their positive run following overnight gains on Wall Street. The MSCI Asia ex-Japan index went up by 0.3%, helped by signs of reduced trade tensions between the United States and Europe. In addition, US Treasury yields came down, which usually helps equity markets in developing countries like India. This is because lower bond yields often make stocks more attractive to came under pressure on Tuesday due to profit booking by investors. One stock that will be closely watched today is ITC. British American Tobacco (BAT), which is based in the UK, said on Tuesday that it plans to sell a 2.3% stake in deal is expected to be worth around USD 1.4 billion and will be carried out through a block trade. This is the second big block deal this week. Earlier, Rakesh Gangwal, co-founder of IndiGo, sold a 5.7% stake in the airline for USD 1.36 the primary market, the Rs 3,409 crore (USD 409 million) initial public offering of Schloss Bangalore, the owner of Leela Hotels, will close for subscription today. The offer has seen strong interest so far and could attract more funds from investors were net buyers on Tuesday. As per provisional data, they bought Indian shares worth Rs 348.45 on the overall market outlook, VLA Ambala added, 'Recent market conditions have offered a breather to market participants, and the benchmark index Nifty is expected to move only 12% to 13% over the next year. Notably, key indices Nifty 50 and Sensex have already delivered these gains in recent months. Hence, it is important to maintain realistic expectations in the market.'advertisement(Disclaimer: 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
India Today
27-05-2025
- Business
- India Today
Stock market opening: Will Sensex, Nifty continue its bull run today?
The stock market is expected to open flat on Tuesday, after strong gains in the previous session. Sensex and Nifty ended higher, helped by positive domestic news and signs of easing trade tensions between the United States and the European Union on Nifty futures were trading at 25,027.5 around 8:08 am, which points to a flat opening for Nifty, close to its Monday closing level of 25, expert VLA Ambala, Co-Founder of Stock Market Today, said, 'If there is a gap-up opening today, the 25,000 mark will serve as a benchmark for setting a new trend. In that circumstance, Nifty can gain support between 24,870 and 25,000 and meet resistance near 25,180 and 25,300 in the next intraday trading session.'GLOBAL CUES REMAIN MIXEDAcross Asia, market movements were mixed in early trade. The MSCI Asia ex-Japan index slipped 0.2%, after staying largely steady on Monday. This came after U.S. President Donald Trump delayed the start of tariffs on European Union goods to June 1, giving negotiators more time. A new deadline has been set for July EU said this delay would help trade talks move forward. Meanwhile, U.S. markets remained closed on Monday due to a holiday. Other global stock markets saw mild SIGNS FROM INDIABack in India, investors are feeling more confident due to early monsoon rains and the Reserve Bank of India's dividend payout to the central government. However, the dividend amount was lower than what some analysts had the market mood remained upbeat, with both foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) buying stocks on Monday. FPIs purchased shares worth Rs 135.98 crore, based on provisional exchange said that, judging by the current momentum, the market sentiment appears bullish, and sectors like metal, media, and IT could remain in focus as a number of stocks remain in focus today. "The US monthly rate cut update is due this week, and the awaited news is expected to influence market sentiment. Regardless, India remains resilient in current conditions. So, if the US Fed decides to cut rates, the impact on our markets may not be significant. Hence, market participants can maintain a strong, bullish, and overweight view on the market," she added. advertisement(Disclaimer: 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
