Latest news with #NiftyIT
Business Standard
a day ago
- Business
- Business Standard
Quick Wrap: Nifty PSU Bank Index gains 2.88%
Nifty PSU Bank index ended up 2.88% at 6976 today. The index has gained 7.00% over last one month. Among the constituents, Bank of Maharashtra rose 5.86%, UCO Bank added 5.66% and Indian Overseas Bank jumped 5.48%. The Nifty PSU Bank index has fallen 4.00% over last one year compared to the 10.06% increase in benchmark Nifty 50 index. In other indices, Nifty Metal index has dropped 1.69% and Nifty IT index has dropped 1.15% on the day. In broad markets, the Nifty 50 has slid 0.33% to close at 24750.7 while the SENSEX has slid 0.22% to close at 81451.01 today.
New Indian Express
a day ago
- Business
- New Indian Express
Sensex drops 182 points, Nifty ends at 24,750 as markets decline on Friday
CHENNAI: Equity benchmarks ended lower on Friday, May 30, 2025, capping a volatile week marked by caution and consolidation. Broader market sentiment remained subdued as investors digested the final tranche of March-quarter earnings, awaited the Q4FY25 GDP data, and monitored global trade uncertainty triggered by fresh tariff actions from the United States. The BSE Sensex closed at 81,451.01, slipping 182.01 points or 0.22%, after moving in a narrow range between 81,698.21 and 81,286.45. Similarly, the NSE Nifty50 settled at 24,750.70, down 82.90 points or 0.33%, with intraday fluctuations between 24,863.95 and 24,717.40. Sectoral & Broader Market Overview On Friday, pressure was visible across key sectors. Nifty IT (-1.12%), Metal (-1.07%), and Auto (-0.98%) sectors led the losses, impacted by weak global cues and concerns over export-linked earnings. Nifty PSU Bank emerged as the lone star performer, surging 2.88% led by gains in Maharashtra Bank and UCO Bank, on the back of improving asset quality and renewed investor interest. Nifty Media and select counters in Financial Services bucked the trend, closing marginally in the green. Broader indices were largely flat to negative, with the Nifty Midcap100 and Smallcap100 each shedding 0.06%. Top Gainers and Losers Top Nifty gainers today were Eternal (+4.98%), State Bank of India (+1.80%), HDFC Bank (+0.94%), Larsen & Toubro (L&T) (+0.58%) and Dr. Reddy's Labs (+0.22%). While, top Nifty losers included Bajaj Auto (-3.10%), Hindalco (-2.27%), Shriram Finance (-1.90%), HCL Tech (-1.81%), and Tech Mahindra (-1.69%). Market Breadth & Valuation Snapshot The overall market breadth on NSE was negative, with 1,581 stocks declining against 1,299 advancing, and 75 ending flat. The total market capitalisation of NSE-listed firms stood at approximately ₹5.18 trillion. Key Drivers Today Global Trade Jitters: Investor sentiment was dented by news surrounding US President Donald Trump's proposed 15% tariff for 150 days, seen as a retaliatory 'Plan B' measure following a court ruling. This revived fears of global trade disruptions, particularly affecting export-oriented and IT-heavy counters. Domestic Cues: Investors remained cautious ahead of the release of India's Q4FY25 GDP figures, expected next week. Concerns about slowing consumption trends and margin pressures in the auto and metal sectors further dampened mood. Earnings Season Wrap: The final leg of the Q4 earnings season provided mixed signals, with strong numbers from select banks and infrastructure players offset by weak showings in the technology and cyclical space. Outlook Analysts expect markets to remain range-bound in the near term, with focus shifting to macroeconomic data, monsoon progression, and global policy moves. While PSU banks continue to attract flows, high valuation pockets in auto and IT may remain under pressure unless supported by robust forward guidance.
Mint
3 days ago
- Business
- Mint
Infosys, Wipro and other IT stocks jump up to 3.5% after US court blocks most Trump tariffs
IT stocks in focus today: Domestic technology stocks came under the bulls' radar in Thursday's session, May 29, after being beaten down in the last couple of trading sessions. The selling in IT stocks had also exerted pressure on the front-line indices. The renewed interest lifted all stocks in the Nifty IT pack into the green, with LTIMindtree, Persistent Systems, Infosys, and Wipro emerging as the top gainers, jumping up to 3.5% in intraday trade. Consequently, the Nifty IT index rose nearly 2% to the day's high of 38,121 and was set to end May with a gain of 5.4%, snapping its four-month losing streak. The strength in tech stocks came as investors cheered a U.S. federal court's decision to block President Trump's proposed "Liberation Day" tariffs. 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 ruling halts most of Trump's 'Liberation Day' tariffs, including a 10% across-the-board tariff and higher rates on countries like China, though tariffs imposed under other laws, such as Section 232 on steel and aluminum, remain unaffected. Global financial markets were hit by a sweeping selloff after Trump's bid to remake the world trading order proved more aggressive than expected. Trump's tariff blitz announced April 2, spooked investors who caught on to a 'Sell America' trade as they remain wary of how the levies will impact growth. Trump's pause on the tariffs and negotiations with countries have since helped stabilise the global markets. The recent threat to impose tariffs on the EU, which was later postponed, has once again resurfaced trade tensions on the global stage. Meanwhile, investors kept a close eye on US Senate debates over Trump's sweeping tax and spending bill, which is likely to undergo significant revisions in the upper chamber. On the monetary policy front, the latest FOMC minutes indicated that officials are adopting a cautious, wait-and-see approach, aiming to assess the economic fallout from recent government actions and tariff developments. Policymakers also noted that risks of both rising inflation and unemployment had increased. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that tariff-related developments involving U.S. President Donald Trump continue to influence market sentiment. He highlighted that the recent U.S. federal court decision striking down reciprocal tariffs sends a strong signal that such unilateral economic decisions cannot go unchecked. This marks the second major setback for Trump's tariff plans, following earlier pressure from the bond market that led to a temporary pause. From a market standpoint, Vijayakumar sees this as a positive move. He added that the Nifty is currently consolidating within a narrow 500-point range of 24,500 to 25,000, and a breakout or breakdown in the near term appears unlikely. Most of the market action, he observed, is concentrated in the mid- and small-cap segments, driven by earnings results. However, he cautioned investors against chasing these stocks blindly, stressing that quality and valuation discipline remain crucial for outperformance in the broader market. 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 taking any investment decisions.
Time of India
3 days ago
- Business
- Time of India
Stock market update: Nifty IT index advances 0.99% in an upbeat market
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel NEW DELHI: The Nifty IT index traded positive around 10:09AM(IST)on Thursday in an upbeat Ltd.(up 2.63 per cent), Persistent Systems Ltd.(up 1.55 per cent), Infosys Ltd.(up 1.31 per cent), MphasiS Ltd.(up 1.01 per cent) and Coforge Ltd.(up 0.9 per cent) were among the top the top losers on the Nifty IT index was up 0.99 per cent at 37836.8 at the time of writing this NSE Nifty50 index was up 86.0 points at 24838.45, while the BSE Sensex was up 303.82 points at the 50 stocks in the Nifty index, 39 were trading in the green, while 11 were in the of Vodafone Idea, IFCI, MMTC, Reliance Power and Sagility India were among the most traded shares on the of IFB Agro, Quality Power Electr, Shree Global, Kavita Fabrics and AXISCADES Engg Tech hit their fresh 52-week highs in today's trade, while Lasa Supergenerics, Bharat Rasayan, Orchid Pharma, Borana Weaves and California Soft(PP)hit fresh 52-week lows in trade.
Economic Times
3 days ago
- Business
- Economic Times
Stock market update: Nifty IT index advances 0.81% in an upbeat market
India 10-year bond yield declined 0.40 per cent to 5.98 after trading in 5.98 -6.04 range. Synopsis The Nifty IT index was trading 0.81 per cent up at 37769.9. NEW DELHI: The Nifty IT index traded positive around 10:29AM(IST)on Thursday in an upbeat market. ADVERTISEMENT LTIMindtree Ltd.(up 2.02 per cent), Persistent Systems Ltd.(up 1.19 per cent), Infosys Ltd.(up 1.18 per cent), Coforge Ltd.(up 0.99 per cent) and Wipro Ltd.(up 0.69 per cent) were among the top gainers. Oracle Financial Services Software Ltd.(down 0.13 per cent) were the top losers on the index. The Nifty IT index was up 0.81 per cent at 37769.9 at the time of writing this report. Benchmark NSE Nifty50 index was up 32.55 points at 24785.0, while the BSE Sensex was up 138.72 points at 81451.04. Among the 50 stocks in the Nifty index, 32 were trading in the green, while 18 were in the red. ADVERTISEMENT Shares of Vodafone Idea, IFCI, MMTC, Sagility India and Reliance Power were among the most traded shares on the NSE. Shares of IFB Agro, Quality Power Electr, Shree Global, Shanti Overseas and AXISCADES Engg Tech hit their fresh 52-week highs in today's trade, while Lasa Supergenerics, Bharat Rasayan, Orchid Pharma, Borana Weaves and Navkar Builders 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
