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NDTV
2 days ago
- Business
- NDTV
Sensex, Nifty Open Flat Amid Global Cues, India-US Trade Deal Awaited
Mumbai: The Indian equity market opened almost flat on Monday amid mixed cues from global markets, as investors continue to look for some positive news on the interim India-US trade deal. At 9:20 am, Sensex was down 50 points or 0.05 per cent at 81,714 and Nifty was down 17 points or 0.07 per cent at 24,951. Marginal selling was also seen in midcap and smallcap stocks. Nifty midcap 100 index was down 87 points or 0.15 per cent at 59,017 and Nifty smallcap 100 index was down 65 points or 0.36 per cent at 18,892. According to analysts, the single-most important factor which the market will be focusing on in the coming days will be the outcome of the trade talks between the US and India. "If an interim trade deal between the two countries is reached with a tariff rate of less than 20 per cent on India, that would be a positive from the market perspective," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd. On the sectoral front, auto, IT, PSU bank, pharma, FMCG, media, energy, infra, consumption and PSE were major losers, while financial services, metal and realty were trading in the green. In the Sensex pack, Axis Bank, Reliance, Infosys, HCL tech, Tech Mahindra, TCS, Sun Pharma, Titan, M&M, HUL, Asian Paints, NTPC, Tata Motors and BEL were losers. Tata Steel, HDFC Bank, ICICI Bank, Eternal, UltraTech Cement, Bajaj Finance and Trent were major gainers. Most Asian markets were trading with gains. Shanghai, HongKong, Seoul, Bangkok and Jakarta were in the green, while Tokyo was trading in the red. US markets closed in mixed zone. Main indices Dow Jones was down 0.32 per cent and Nasdaq was up 0.05 per cent. On the institutional front, foreign institutional investors (FIIs) turned net buyers on July 18 with purchases worth Rs 374.74 crore, while domestic institutional investors (DIIs) continued their tenth session of buying, with net purchases worth Rs 2,103.51 crore. Considering the current environment of elevated volatility and mixed global cues, traders should maintain a cautious sell-on-rise strategy, especially when using leverage, said Mandar Bhojane from Choice Equity Broking Private Limited.
India.com
6 days ago
- Business
- India.com
Sensex, Nifty Open Flat As Markets Look For New Positive Triggers
Mumbai: The Indian equity indices opened flat on Thursday, as markets looked for new triggers to break out of the consolidation range. At 9.2 am, Sensex was down 15 points at 82,619 and Nifty was down 2 points at 25,210. Buying was seen in the midcap and smallcap stocks. Nifty midcap 100 index was up 123 points or 0.18 per cent at 59,741 and Nifty smallcap 100 index was up 70 points or 0.37 per cent at 19,210. On the sectoral front, auto, pharma, FMCG, metal, realty, energy, infra and PSE were major gainers, while IT, PSU bank, financial services and media were major losers. In the Sensex pack, Sun Pharma, M&M, Trent, Kotak Mahindra, Tata Motors, NTPC, BEL, Titan and Power Grid were major gainers. Tech Mahindra, ICICI Bank, Eternal, Axis Bank, Infosys and HUL were major losers. According to analysts, an India-US interim trade deal has been discounted by the market, leaving no scope for a sharp rally decisively breaking the range. 'One positive and surprise factor that can trigger a rally is a tariff rate much below 20 per cent, say 15 per cent, which the market has not discounted. So, watch out for developments on the trade and tariff front,' said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited. Most Asian stocks traded in a flat-to-low range. Tokyo, Shanghai, Bangkok and Jakarta were trading in the green while Hong Kong and Seoul were in the red. The US market closed in the green on Wednesday due to positive market sentiment. On the institutional front, foreign institutional investors (FIIs) continued to reduce exposure in India, selling equities worth Rs 1,858 crore on July 16. In contrast, domestic institutional investors (DIIs) remained consistent buyers for the 8th straight session, infusing Rs 1,223 crore, lending crucial support to the market amid global uncertainties. The broader trend remains optimistic as long as key support levels are respected, said analysts.
Mint
14-05-2025
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 14 May
On Tuesday, domestic equity benchmarks fell sharply as Sensex and Nifty came under broad-based selling pressure. Profit booking was pronounced in key sectors such as IT, auto and FMCG following a strong rally on Monday. The decline was largely driven by investor caution ahead of the US consumer price index (CPI) inflation data for April. The capital goods, media, PSU bank and pharma indices posted gains of 1-1.6%, while the IT, metal, FMCG, oil and gas, and realty indices fell 0.9-2.5%. Two stock recommendations for today by MarketSmith India Also read: Britannia's cost-cutting efforts may not matter without a volume growth rebound How Nifty 50 performed on 13 May Nifty 50 paused after Monday's sharp rally, which was fueled by the ceasefire agreement between India and Pakistan. On Tuesday the index came under pressure as traders chose to book profits at higher levels. It opened on a muted note at 24,864 and gradually declined throughout the session, closing near the day's low at 24,578. This resulted in the formation of a bearish candlestick on the daily chart. Sectorally, most indices ended in the red except media, PSU bank, pharma and healthcare, which posted modest gains. Despite the decline, overall market breadth remained strong, with an advance-decline ratio of 2:1, indicating broad-based buying interest across the wider market. From a technical perspective, Nifty 50 is trading firmly above all its key moving averages, indicating a well-established uptrend. The index is showing strong bullish momentum on both daily and weekly timeframes, supported by robust volume activity. Also read: Pidilite's growth gets stickier, but valuation a sore spot The relative strength index (RSI) has turned upward and is currently positioned around 60, reinforcing the bullish bias. Additionally, the moving average convergence divergence (MACD) remains in positive territory with a bullish crossover, further validating the strength of the ongoing upward momentum. According to O'Neil's methodology of market direction, Nifty 50 transitioned from a "rally attempt" to a 'confirmed uptrend". Overall market sentiment remains positive, and the prevailing uptrend is expected to continue as long as the index remains above 24,400. The next immediate resistance is anticipated in the range of 25,100–25,200. How did Nifty Bank perform? Nifty Bank opened on a negative note but attempted to recover, only to face profit booking at higher levels. The index opened at 55,233.50, traded within the range of 55,499.65–54,888.50, and closed at 54,940.85. Despite forming a bearish candle on Tuesday, the index has maintained its bullish momentum as there are no signs of weakness thus far. It continues to trade well above its key moving averages. The RSI has modestly tilted to the downside and is currently positioned near 59. Meanwhile, MACD remains in a negative crossover, though it continues to trade above the neutral line. According to O'Neil's methodology of market direction, Nifty Bank transitioned from an "uptrend under pressure" to a 'confirmed uptrend". Also read: Asian Paints sees a greener FY26; analysts see red Currently, the index is trading above all its key moving averages, indicating a sustained positive momentum. A critical resistance point to watch is 56,000. A decisive breakout and sustained trading above this could pave the way for further upward movement toward 57,500–58,000. On the downside, robust support is seen around 54,000, which is expected to provide a cushion in the event of a near-term pullback. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi 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.
