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Hans India
2 hours ago
- Business
- Hans India
No weak signals but waning momentum
The equity indices consolidated for a second successive week. The Nifty declined by 102.45 points or 0.41 per cent. The BSE Sensex is down by just 0.33 per cent. The broader indices outperformed as Midcap-100 and Smallcap-100 gained by 1.29 per cent and 1.36 per cent, respectively. On a sectoral front, the Nifty Media is the top gainer with 1.67 per cent, followed by Realty with 1.33 per cent. The Energy and Banknifty are up by 0.68 per cent and 0.63 per cent. On the other hand, the FMCG sector is down by 2.16 per cent. The Auto and Consumer Durables fell by 0.81 per cent and 0.77 per cent, respectively. The India VIX is down by 6.95 per cent to 16.07. The FIIs bought Rs.11,773.25 crore, and the DIIs bought Rs.67,642.34 crore worth of equities during the month. As we forecast earlier, the benchmark index Nifty continues to consolidate within the range. With the last two weeks of inside action, the momentum is waning. As the index has not formed a lower low and is trading above the key supports, there are no weaker signals available. It traded in the 24378-25116 range over the last 15 days and closed at the midpoint of the range. It took support at 20 DMA twice during this consolidation. As long as this inside price action is taken out, the directional bias is neutral. As the MSCI rebalancing happened, massive volumes were recorded on Friday. The volumes were highest after 4th June 2024. Interestingly, the Nifty holds 9 nine distribution days currently, which is the highest number in recent history. Normally, when the distribution day count increases above six, there will be a confirmed downtrend. But the Nifty is in a confirmed uptrend this time. The interesting technical factor is a rare phenomenon. From the 4th March low, the volume trend is increasing. The Nifty is now 3.30 per cent above the 50 DMA, and just 0.23 per cent above the 20DMA. Even after a 15.51 per cent rally, the 200 DMA is still flat, not in an uptrend. The 200 EMA and other medium-term averages are in a decisively uptrend. This shows the inherent trend is stronger. The recovery from the 7th of April is very impulsive. All impulsive rallies normally consolidate before continuing the prior trend. A normal consolidation pattern takes 3-8 weeks time. As we stated, the time correction is due now. The 23.6 per cent retracement level of the recent upswing is at 24320. The 12th Mary low is at 24378. This zone is the crucial support of the consolidation. A close below the 20 DMA of 24692 will indicate a short-term weakness. In any case, the index closes below the support zone, the 50 DMA is at 23960, and the 38.6 per cent retracement level is at 23827. We can not expect the market to go down below this zone for now. If the Nifty declines below this, it means closing below the 200 DMA. For the past two weeks, the focus has shifted to mid- and small-cap stocks, as large caps are consolidating. The Midcap-100 index gained by 6.09 per cent, and the Smallcap-100 is up by 8.72 per cent. Whereas the benchmark Nifty has advanced just 1.71 per cent. In the current calendar year, the Nifty is positive by 4.7 per cent. Several stocks are breaking out of early-stage bases and showing higher relative strength. These stocks show a decent improvement in fundamentals with earnings growth. These stocks have the potential to outperform.
Business Standard
3 days ago
- Business
- Business Standard
Benchmarks trade with minor losses; media shares decline
The domestic equity benchmarks traded with small losses in the mid- afternoon trade as investors remained focused on the final batch of March quarter (Q4FY25) earnings, GDP data, along with US President Donald Trump's tariff developments globally. The Nifty traded below the 24,800 level. Media shares slipped after advancing for previous two consecutive trading sessions. At 14:30 IST, the barometer index, the S&P BSE Sensex, slipped 160.39 points or 0.20% to 81,472.63. The Nifty 50 index shed 55.10 points or 0.22% to 24,780.80. In the broader market, the S&P BSE Mid-Cap index shed 0.27% and the S&P BSE Small-Cap index rose 0.21%. The market breadth was negative. On the BSE, 1,782 shares rose and 2,133 shares fell. A total of 157 shares were unchanged. Buzzing Index: The Nifty Media index shed 0.62% to 1,700.40. The index rose 0.61% in past two consecutive trading sessions. Network 18 Media & Investments (down 1.62%), Sun TV Network (down 1.21%), Saregama India (down 0.87%), PVR Inox (down 0.75%), Zee Entertainment Enterprises (down 0.55%) and Nazara Technologies (down 0.28%) declined. On the other hand, Hathway Cable & Datacom (up 2.7%), Dish TV India (up 2.11%) and Tips Music (up 0.53%) added. Numbers to Track: In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.5900, compared with its close of 85.4825 during the previous trading session. MCX Gold futures for 5 June 2025 settlement shed 0.34% to Rs 95,066. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.18% to 99.53. The United States 10-year bond yield rose 0.18% to 4.432. In the commodities market, Brent crude for July 2025 settlement rose 33 cents or 0.51% to $64.48 a barrel. Stocks in Spotlight: EFC (I) jumped 4.41% after the company reported 71.7% increase in consolidated net profit to Rs 47.97 crore on a 126.4% rise in revenue from operations to Rs 211.01 crore in Q4 FY25 as compared with Q4 FY24. KNR Constructions declined 3.96% after the company's consolidated net profit tumbled 60.58% to Rs 139.24 crore on 31.03% decline in revenue from operations Q4 FY25 over Q4 FY24.
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Business Standard
23-05-2025
- Business
- Business Standard
This analyst is bullish on Media, Defence; recommends these 2 stocks
Kunal Kamble of Bonanza expects Media and Defence sectors to continue outperformance, and Network 18 Media and Cochin Shipyard are his top 2 picks. Sector Outlook: Nifty Media & Nifty Defence Likely to Outperform in the Coming Weeks Nifty Media – Bullish Breakout Signals Upside Potential Nifty Media has recently broken out above a key resistance level and shows potential for further upside towards 1,740, followed by 1,870. The index is trading comfortably above both the 50 EMA (Fast) and 200 EMA (Slow), reinforcing its bullish trend. Stock in Focus: Network 18 Media Network 18 Media is showing an attractive setup above ₹50, with an upside potential towards ₹54–₹56, provided it sustains above the support level of ₹48. The stock has formed a classic Adam and Eve breakout pattern, with the neckline at ₹49.90. A breakout above this level, supported by increasing volumes, indicates strong buying interest. Recommendation Buy at: ₹50 Stop Loss: ₹48 Target Price: ₹54–₹56 Nifty Defence – Still Has Fuel Left for Higher Levels Nifty Defence still has fuel left in the tank and shows potential to move higher towards 9,500 levels. The recent retracement to the 21-EMA, followed by a strong bounce, suggests that this level will act as a key support going forward. Stock in Focus: Cochin Shipyard Cochin Shipyard recently broke out of an Eve pattern, and a successful throwback to the neckline is offering a fresh buying opportunity with a favorable risk-reward setup. The stock is trading above all major EMAs, indicating a strong bullish structure. Momentum indicators further support this view: RSI remains in the bullish zone, highlighting positive momentum. Directional Index (DI+) is above (DI-), and a rising Average Directional Index (ADX) confirms strength in the ongoing uptrend. Recommendation Buy Range: ₹1,884–₹1,890 Stop Loss: ₹1,680 Target Price: ₹2,200–₹2,500
Business Standard
22-05-2025
- Business
- Business Standard
Quick Wrap: Nifty FMCG Index falls 1.44%
Nifty FMCG index ended down 1.44% at 55598.05 today. The index has slipped 3.00% over last one month. Among the constituents, Colgate-Palmolive (India) Ltd shed 6.48%, Varun Beverages Ltd slipped 2.00% and United Breweries Ltd dropped 1.78%. The Nifty FMCG index has fallen 0.00% over last one year compared to the 8.90% increase in benchmark Nifty 50 index. In other indices, Nifty IT index has dropped 1.31% and Nifty Media index added 1.11% on the day. In broad markets, the Nifty 50 is down 0.82% to close at 24609.7 while the SENSEX has dropped 0.79% to close at 80951.99 today.
Business Standard
22-05-2025
- Business
- Business Standard
Benchmarks trade with major losses; European mrkt decline
The key equity indices traded with deep cuts in afternoon trade amid global risk aversion. A spike in U.S. Treasury yields, Moodys downgrade of the U.S. credit outlook, weak bond demand, and a technical correction following the recent rally triggered broad-based selling in Indian equities. Barring the Nifty Media index, all the other sectoral indices on the NSE traded in red. The Nifty traded below the 24,600 level. The market is volatile due to the weekly expiry of the Nifty F&O series today. At 13:30 IST, the barometer index, the S&P BSE Sensex, tanked 858.86 points or 1.05% to 80,737.65. The Nifty 50 index tumbled 260.75 points or 1.05% to 24,552.70. In the broader market, the S&P BSE Mid-Cap index declined 0.46% and the S&P BSE Small-Cap index rose 0.01%. The market breadth was negative. On the BSE, 1,530 shares rose and 2,268 shares fell. A total of 190 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 0.11% to 17.57. Gainers & Losers: Bharti Airtel (up 0.57%), Hero MotoCorp (up 0.20%), Jio Financial Services (up 0.20%), Bharat Electronics (up 0.09%), and IndusInd Bank (up 0.08%) were the major Nifty50 gainers. Mahindra & Mahindra (down 3.03%), Power Grid Corporation of India (down 2.87%), Coal India (down 2.12%), Hindalco Industries (down 2.09%) and Oil & Natural Gas Corporation (down 2.05%) were the major Nifty50 losers. Economy: India's private sector activity witnessed a notable acceleration in May, as indicated by the HSBC Flash India Composite Output Index, which rose to 61.2 from 59.7 in April. The seasonally adjusted indextracking month-on-month changes in output across both manufacturing and servicessignaled a sharp rate of expansion. This uptick was largely driven by stronger performance in the services sector. Robust inflows of new business, both domestic and international, fueled faster growth in business activity and employment. Meanwhile, the HSBC Flash India Manufacturing PMI remained largely stable, edging up slightly to 58.3 in May from 58.2 in April. The reading continued to reflect a strong improvement in the overall health of the manufacturing sector. Stocks in Spotlight: Colgate Palmolive (India) tanked 5.35% after the companys standalone net profit declined 6.53% to Rs 355 crore in Q4 FY25 as against Rs 379.82 crore posted in Q4 FY24. Revenue from operations fell 1.93% year on year (YoY) to Rs 1,452 crore in the quarter ended 31 March 2025. Oil and Natural Gas Corporation (ONGC) declined 2.11% after the companys standalone net profit fell 34.66% to Rs 6,448.28 crore in Q4 FY25 as against Rs 9,869.37 crore posted in Q4 FY24. Revenue from operations declined marginally to Rs 34,982.23 crore in Q4 FY25, compared to Rs 34,636.69 crore reported in Q4 FY24. H.G. Infra Engineering dropped 6.65% after the company reported 22.65% decline in consolidated net profit to Rs 146.98 crore in Q4 FY25 as against Rs 190.03 crore posted in Q4 FY24. Revenue from operations fell 20.33% YoY to Rs 1,360.89 crore in the quarter ended 31 March 2025. Rupa & Company rose 2.68% after the company's net profit rose 26% to Rs 30.6 crore while net sales rose 4% to Rs 415.5 crore in Q4 March 2025 over Q4 March 2024. Astral jumped 4.68% after its standalone net profit jumped 3.76% to Rs 190 crore on 3.64% rise in revenue from operations to Rs 1,542.3 in Q4 FY25 over Q4 FY24. Global Markets: European shares declined on Thursday as investors will be closely watching earnings reports from BT, British Land, and Tate & Lyle on Thursday. Additionally, preliminary Purchasing Managers Index (PMI) data for France and the U.K. is scheduled to be released. Most Asian stocks declined, mirroring overnight losses on Wall Street. Investor sentiment was impacted by concerns that a proposed U.S. budget bill could significantly increase the national debt. In Japan, the manufacturing sector contracted for the eleventh consecutive month in May, according to preliminary data from the au Jibun Bank flash manufacturing Purchasing Managers Index (PMI). The index registered at 49.0 for the first three weeks of May, slightly improving from 48.7 in April but remaining below the 50-mark that separates growth from contraction. In the United States, all three major stock indices closed lower on Wednesday. The Dow Jones Industrial Average fell 1.91%, the S&P 500 dropped 1.61%, and the Nasdaq Composite declined 1.41%. The market selloff was attributed to a sharp rise in Treasury yields amid concerns that the proposed budget bill could increase fiscal pressure. The proposed legislation, which includes tax cuts and spending measures, is reportedly facing resistance from within the Republican party. Analysts estimate the bill could add between $3 trillion and $5 trillion to the current U.S. debt, which stands at $36.2 trillion. The development follows a recent credit rating downgrade by Moodys, citing concerns over the rising national debt. In corporate news, Alphabet Inc. shares rose more than 2% following the company's announcement of new AI-related products and initiatives aimed at maintaining its competitive edge in the sector. Microsoft Corporation traded slightly lower after disclosing that approximately 394,000 Windows devices worldwide had been infected by the Lumma malware.
