Latest news with #NiftyBank
Hans India
3 days ago
- Business
- Hans India
Indian stock market opens flat amid stable institutional investments
The domestic benchmark indices opened flat on Friday amid negative Asian cues, as selling was seen in the IT and auto sectors in the early trade. Stable institutional flows — both FII and DII — are keeping the market steady even in the absence of positive triggers. The ongoing consolidation phase is likely to continue in the near-term, according to analysts. At around 9.29 am, Sensex was trading 11.77 points or 0.01 per cent up at 81,644.79 while the Nifty added 13.20 point or 0.05 per cent at 24,846.80. Nifty Bank was up 81.20 points or 0.15 per cent at 55,627.25. The Nifty Midcap 100 index was trading at 57,707.65 after rising 250.40 points or 0.44 per cent. Nifty Smallcap 100 index was at 17,927.15 after climbing 37.75 points or 0.21 per cent. According to analysts, the Nifty posted a smart recovery in the final minutes of trading on Thursday, after spending most of the first half in the red. "Although the Nifty is still caught in a sideways market defined by the 24,462 and 25,116 range, yesterday's rebound traced a long lower shadow and a small real body that was closer to the day's high, and that's a bullish sign. Immediate support and resistance lie at 24677 and 25000 respectively," said Akshay Chinchalkar, Head of Research at Axis Securities. Meanwhile, in the Sensex pack, Infosys, Tech Mahindra, HCL Tech, Bajaj Finance, IndusInd Bank, Bharti Airtel, Titan and Hindustan Unilever Limited were the top losers. Whereas, Adani Ports, Eternal, Maruti Suzuki and Sun Pharma were the top gainers. In the Asian markets, Hong Kong, Bangkok, Seoul, China and Japan were trading in the red. In the last trading session, Dow Jones in the US closed at 42,215.73, up 117.03 points, or 0.28 per cent. The S&P 500 ended with a gain of 23.62 points, or 0.40 per cent, at 5,912.17 and the Nasdaq closed at 19,175.87, up 74.93 points, or 0.39 per cent. 'Investors should understand two distinct big trends that will weigh on markets: One, India's macros are strong and improving. Two, this positive trend in macros is not getting reflected in corporate earnings," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd. This is the fundamental reason for the range-bound movement of the market. On the institutional front, foreign institutional investors (FIIs) were net buyers as they bought equities worth 884.03 crore on May 29, while domestic institutional investors (DIIs) purchased equities worth 4,286.50 crore. According to market watchers, steadily improving macros like resilient GDP growth, down trending inflation and interest rates and declining fiscal and current account deficits lay the foundation for a strong economy and earnings recovery in the medium term.
Economic Times
3 days ago
- Business
- Economic Times
Stock market update: Nifty Bank index falls 0.15% in a weak market
Stocks in focus: RIL, Tata Motors, Infosys, IIFL Securities, Apollo Hospitals, Punjab National Bank, NBCC and more.. Synopsis The Nifty Bank index was trading 0.15 per cent down at 55462.35. NEW DELHI: The Nifty Bank index traded negative around 11:04AM(IST)on Friday in a weak market. ADVERTISEMENT Au Small Finance Bank Ltd.(up 0.66 per cent), HDFC Bank Ltd.(up 0.13 per cent) and ICICI Bank Ltd.(up 0.04 per cent) were among the top gainers. IndusInd Bank Ltd.(down 0.99 per cent), Canara Bank(down 0.94 per cent), Punjab National Bank(down 0.81 per cent), Axis Bank Ltd.(down 0.74 per cent) and State Bank of India(down 0.39 per cent) were the top losers on the index. The Nifty Bank index was down 0.15 per cent at 55462.35 at the time of writing this report. Benchmark NSE Nifty50 index was down 69.5 points at 24764.1, while the BSE Sensex was down 215.8 points at 81417.22. Among the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the red. ADVERTISEMENT Shares of Suzlon Energy, Vodafone Idea, Reliance Power, MMTC and Ola Electric Mobilit were among the most traded shares on the NSE. Shares of Lumax Auto Tech, Venus Remedies, BSE, INEOS Styrolution and Shaily Engg Plastics hit their fresh 52-week highs in today's trade, while Career Point, Navkar Builders, California Soft(PP), Signpost India and Borana Weaves hit fresh 52-week lows in trade. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
3 days ago
- Business
- Time of India
Stock market update: Nifty Bank index falls 0.15% in a weak market
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel NEW DELHI: The Nifty Bank index traded negative around 11:04AM(IST)on Friday in a weak Small Finance Bank Ltd.(up 0.66 per cent), HDFC Bank Ltd.(up 0.13 per cent) and ICICI Bank Ltd.(up 0.04 per cent) were among the top Bank Ltd.(down 0.99 per cent), Canara Bank(down 0.94 per cent), Punjab National Bank(down 0.81 per cent), Axis Bank Ltd.(down 0.74 per cent) and State Bank of India(down 0.39 per cent) were the top losers on the Nifty Bank index was down 0.15 per cent at 55462.35 at the time of writing this NSE Nifty50 index was down 69.5 points at 24764.1, while the BSE Sensex was down 215.8 points at the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the of Suzlon Energy MMTC and Ola Electric Mobilit were among the most traded shares on the of Lumax Auto Tech Venus Remedies , BSE, INEOS Styrolution and Shaily Engg Plastics hit their fresh 52-week highs in today's trade, while Career Point, Navkar Builders , California Soft(PP), Signpost India and Borana Weaves hit fresh 52-week lows in trade.
Mint
3 days ago
- Business
- Mint
MarketSmith India's best stock recommendations for today, 30 May
On Thursday, the Nifty 50 rose 0.33%, closing at 24,833, supported by positive global cues, an improved monsoon forecast, and optimism around strong Q4 GDP growth data. Sectoral performance was mixed, with notable strength seen in construction, metals, pharma, and IT stocks. However, PSU banks, consumer goods, financial services, and the Nifty Bank witnessed selling pressure. Looking ahead, the index maintains a positive outlook, supported by favourable domestic macroeconomic indicators and sustained institutional interest. A decisive move above 25,000–25,200 could pave the way for further upside in the near term. Two stock recommendations for today, 30 May, by MarketSmith India: Motilal Oswal Financial Services Ltd (current price: 809.95) Why it's recommended: Diverse business model and reputation for quality research Key metrics: P/E: 18.83 | 52-week high: ₹1,064.00 | Volume: ₹308.39 crore Technical analysis: Reclaimed 200-DMA Risk factors: Regulatory and legal risks, reputation, and ethical risks Buy at: ₹809.95 Target price: ₹950 in three months Stop loss: ₹760 Also Read: Amrit Bharat boost: Stocks to benefit from station modernisation DCB Bank Ltd (current price: ₹ 145.50) Why it's recommended: Focused retail and SME lending strategy, granular, and secured loan book Key metrics: P/E: 7.31 | 52-week high: ₹164 | Volume: ₹44.15 crore Technical analysis: Cup-with-handle breakout Risk factors: Moderate scale and limited market presence, vulnerability to sme credit cycles Buy at: ₹145.50 Target price: ₹163 in three months Stop loss: ₹137 Nifty 50: How the benchmark index performed on 29 May The Nifty 50 opened on a positive note at 24,825 and touched an intraday high of 24,889 in early trade. However, the index soon lost momentum and slipped to the day's low of 24,677. Despite the mid-session weakness, late buying interest—aided by monthly F&O expiry dynamics—helped the index reverse its losses and closed 81 points higher. Notably, it retested its 21-day moving average (21-DMA) and witnessed a sharp rebound. On the sectoral front, all major indices closed in the green, except PSU Banks and FMCG, which remained under pressure. The advance-decline ratio closed near 1:1, indicating broad-based market indecision. The index continues to trade above all its key moving averages and consolidate within a defined range of 24,500–25,100 over the past couple of weeks. Momentum indicators reflect indecision, with the RSI oscillating in a range-bound zone, suggesting a lack of directional strength. Meanwhile, the daily MACD has formed a negative crossover, indicating potential bearish momentum, though it remains above the central (zero) line, which offers a mildly positive undertone. According to O'Neil's methodology of market direction, the Nifty50 transitioned from a "Rally Attempt" to a 'Confirmed Uptrend". The index is currently encountering strong resistance in 25,000–25,200, which aligns with a previously established supply zone. Recent price action suggests that a decisive breakout and sustained move above this resistance band is critical to reaffirm the bullish trend. In the absence of such a breakout, it is expected to remain range-bound and volatile in the near term. On the downside, key support levels are identified between 24,650 and 24,450, which could act as a cushion against further declines. How did the Nifty Bank perform yesterday? On Thursday, the Nifty Bank opened on a positive note but predominantly exhibited a sideways trading pattern, spending most of the session in negative territory. However, the final hour witnessed a recovery, allowing the index to close in the green, forming a bullish candle. Despite this late rally, the Nifty Bank remains in a consolidation phase and has yet to decisively break out. It opened at 55,571.40, oscillated between a high of 55,782.75 and a low of 55,096.45, and finally settled at 55,546.05. Also Read: Four stocks to watch as India's space economy eyes $44 billion by 2033 Technically, the index remains above all its key moving averages and near its all-time highs, despite the current sideways movement. However, momentum indicators suggest a pause in bullish sentiment, with the relative strength index (RSI) at 60 and the MACD showing a negative crossover. According to O'Neil's methodology of market direction, the Nifty Bank transitioned from an "Uptrend Under Pressure" to a 'Confirmed Uptrend." The Nifty Bank is currently trading within a sideways range, with a decisive breakout above 56,000 serving as a critical indicator for the continuation of its bullish momentum. A sustained move and close above this level would likely signal the commencement of a new upward trend. In the absence of such a breakout, the index is expected to remain in its consolidation phase. Should the breakout materialise, the Nifty Bank could target near-term gains in 57,500–58,800. On the downside, immediate support levels are observed around 55,000, with a secondary support near 54,500. Also Read: This luggage leader is staging a turnaround. But can it overcome its baggage? MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543) Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
3 days ago
- Business
- Economic Times
Stock market update: Nifty Bank index advances 0.23%
NEW DELHI: The Nifty Bank index closed on a positive note on Thursday. ADVERTISEMENT Shares of IndusInd Bank Ltd.(up 2.36 per cent), Axis Bank Ltd.(up 0.59 per cent), Kotak Mahindra Bank Ltd.(up 0.36 per cent), HDFC Bank Ltd.(up 0.21 per cent) and ICICI Bank Ltd.(up 0.19 per cent) ended the day as top gainers in the pack. On the other hand, Au Small Finance Bank Ltd.(down 1.17 per cent), Federal Bank Ltd.(down 0.27 per cent), Canara Bank(down 0.19 per cent) and IDFC First Bank Ltd.(down 0.14 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.23 per cent up at 55546.05. Benchmark NSE Nifty50 index ended up 81.15 points at 24833.6, while the BSE Sensex stood up 320.7 points at 81633.02. Among the 50 stocks in the Nifty index, 37 ended in the green, while 13 closed in the red. ADVERTISEMENT Shares of Vodafone Idea, MMTC, IFCI, Reliance Power and Suzlon Energy were among the most traded shares on the NSE. Shares of IFB Agro, Quality Power Electr, Pil Italica Lifestyle, Shree Global and Welspun Corp hit their fresh 52-week highs in today's trade, while Lasa Supergenerics, Bharat Rasayan, Navkar Builders, California Soft(PP)and Borana Weaves hit their fresh 52-week lows. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
