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India Today
29-05-2025
- Business
- India Today
Sensex ends 321 points higher, Nifty above 24,800; IndusInd Bank up over 2%
Benchmark indices managed to end higher on Thursday, buoyed by a late-session rally that helped offset earlier volatility. The BSE Sensex climbed 320.70 points to close at 81,633.02, while the NSE Nifty50 advanced 81.15 points to settle at 24, the broad market indices also ended in the green, with volatility cooling sharply during the session. Sectorally, Metal, Pharma, and IT stocks led the Nair, Head of Research at Geojit Financial Services, said global cues played a supportive role. 'Global sentiment improved after a U.S. court struck down Trump's reciprocal tax policy. However, the domestic market remained mostly rangebound during the day due to rising oil prices and higher U.S. 10-year bond yields,' he noted.'Some recovery was seen toward the end of the session, driven by F&O expiry-led covering. Export-focused sectors like IT and Pharma performed well, supported by hopes of easing trade tensions. Lack of positive domestic triggers and a drop in industrial output to an eight-month low could lead to short-term market consolidation,' he Gaggar, Director at Progressive Shares, said that after a strong start, the Nifty gave up its gains mid-session and traded in a narrow range. 'A sudden surge in the final hour lifted the index to end the monthly expiry on a positive note,' he and Realty were among the top-performing sectors, while PSU Banking and FMCG stocks came under mild pressure. Midcap and Smallcap indices extended their recent outperformance, ending up 0.55% and 0.59%, Gaggar said the index remains wedged between key levels. 'Nifty continues to face resistance at 24,960 and support at 24,730. A breakout on either side will be crucial in determining the next trend.'Rupak De, Senior Technical Analyst at LKP Securities, described the expiry day trade as volatile with limited directional strength. 'The RSI remains in a downward trajectory, indicating weakness,' he pegged 24,670 as a critical support. 'A break below this could lead to a sharper correction, dragging the Nifty towards 24,400 or even 24,300. However, if the index manages to hold above 24,670, a swift rebound toward 25,000–25,150 is possible in the near term,' he added. advertisement
India Today
22-05-2025
- Business
- India Today
Sensex closes 645 points lower, Nifty below 24,700; IndusInd Bank gains 2%
Benchmark stock market indices closed lower on Thursday after rebounding a little from the major losses they suffered earlier in the day due to unfavourable global S&P BSE Sensex lost 644.64 points to end at 80,951.99, while the NSE Nifty50 was down by 203.75 points to close at 24, Gaggar, Director of Progressive Shares, said that the equity market experienced a downturn due to a surge in bond yields, which dented the market IndusInd Bank emerged as the top performer, gaining 1.82% by market close, followed by Bharti Airtel which advanced by 0.44%. UltraTech Cement saw a modest uptick of 0.10%, while Kotak Mahindra Bank and Tata Steel faced minor declines of 0.12% and 0.22% & Mahindra faced the steepest decline, dropping 2.27% during the session. Bajaj Finserv was under pressure, falling 1.80%, while Tech Mahindra retreated by 1.77%. Power Grid Corporation declined by 1.74%, and ITC rounded out the top five losers with a drop of 1.58%.Broader market indices faced pressure as Nifty Midcap100 declined by 0.52% and Nifty Smallcap100 fell by 0.28%. The India VIX dropped by 1.65%. Most sectoral indices closed with losses, reflecting widespread selling pressure across various FMCG was the worst performer, tumbling 1.44%, followed by Nifty IT which declined 1.31% and Nifty Oil & Gas falling 1.17%.advertisementOther notable losers included Nifty Consumer Durables down 1.14%, Nifty Auto retreating 1.01%, Nifty Pharma slipping 0.93%, Nifty PSU Bank declining 0.58%, Nifty Financial Services falling 0.53%, Nifty Realty down 0.46%, Nifty Healthcare Index dropping 0.44%, Nifty Metal retreating 0.31%, and Nifty Private Bank slipping 0.22%.However, Nifty Media managed to buck the negative trend, posting a gain of 1.11%, emerging as the sole sectoral index to close in positive Nair, Head of Research, Geojit Investments Limited, explained that key benchmark indices witnessed declines amid US fiscal concerns that the proposed budget bill could significantly increase the national debt, pushing US treasury yield higher due to tepid long term bond demand."Despite a notable improvement in India's PMI in May and uptick in fiscal scenario, ongoing uncertainty around U.S.-India trade negotiations and persistent global market volatility are likely to keep Indian equities in a consolidation phase in the near term," he added. (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.)
India Today
21-05-2025
- Business
- India Today
FII selling back to haunt Dalal Street? What investors need to know
Dalal Street opened in the green on Wednesday, with the Sensex rising over 200 points and the Nifty50 reclaiming 24,740 in early trade. But beneath the surface, volatility remains a key concern as investors digest fresh signs of foreign institutional investor (FII) retreat and growing global steep sell-off, largely attributed to profit booking and FII outflows, has put the market on edge. Analysts have warned that the tide could be turning, especially after FIIs offloaded a massive Rs 10,016 crore in just one session, reversing the bullish trend seen through May.'Spike in uncertainty and risk is impacting the market rather unexpectedly,' said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. 'If heavy FII selling continues, it could put further pressure on the market.'Several global triggers are behind this shift. Vijayakumar flagged concerns such as the downgrade of US sovereign credit, a rise in US and Japanese bond yields, a spike in Covid cases, and geopolitical chatter about a possible Israeli strike on this backdrop, analysts say a phase of short-term consolidation is Gaggar, Director at Progressive Shares, said the sharp correction in mid- and small-cap stocks has helped ease previously stretched technical indicators. 'This was a healthy pullback. The index now finds itself at a key trendline support with signs of a hidden bullish divergence. Today's session will be crucial in determining whether the trend sustains or breaks.'He added that the Nifty is likely to consolidate in the near term, with resistance seen at 24,900 and support at 24, put, while Wednesday's early rebound offered some respite, analysts are urging caution. With FII flows turning negative and no major domestic trigger in sight, markets may remain volatile and investors would do well to tread InMust Watch advertisement
India Today
21-05-2025
- Business
- India Today
Sensex surges 700 points. Why stock market is rising today despite volatility
Domestic markets kicked off Tuesday on a strong note, with benchmark indices rallying despite weak global cues and heavy foreign institutional BSE Sensex jumped over 687.83 points to 81,874.27 by 10:18 am, while the NSE Nifty50 gained 214.15 points to 24,898.05. The rebound was broad-based, with all major indices trading higher after a sharp fall in the previous surprising upmove comes amid rising volatility and concerns over global risk, including a recent US credit rating downgrade and surging bond yields in both the US and Japan. Yet, domestic investors appear to be shrugging off the noise, with analysts pointing to increased value hunting and contrarian bets as key drivers of the rally. 'The recent market correction, particularly in mid- and smallcaps, has brought the index to a critical trendline support level. We're seeing signs of a hidden bullish divergence forming, which could spark a near-term reversal,' said Aditya Gaggar, Director at Progressive Shares. He noted key levels for the Nifty at 24,900 on the upside and 24,535 on the downside, with Bank Nifty resistance at 55,700 and support at 54, bounce also comes after a phase of profit booking that analysts say was overdue. Technical indicators had been stretched, and the correction helped normalise conditions, creating a setup for selective Monday's massive FII outflow of over Rs 10,000 crore—a sharp reversal from their May buying spree—analysts say the domestic outlook remains constructive."Yes, the FII sell figure was a jolt, but the fundamentals haven't deteriorated,' said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit. 'We're still seeing the effects of strong Q4 earnings, moderating inflation, and the possibility of another RBI rate cut, all of which are supportive for equities in the medium term.'However, risk factors remain elevated. A possible escalation in the Middle East, rising COVID cases in some Indian states, and global bond market volatility have all added to investor anxiety.'The spike in uncertainty is unnerving markets. US 30-year yields hitting 5%, and Japan's 30-year yield touching 3.14%, is a rare combination. This may not hurt immediately, but it certainly clouds the medium-term picture,' said Anand James, Chief Market Strategist at a technical standpoint, Nifty remains at a make-or-break level. While yesterday's breach of 24,870 hinted at a short-term trend reversal, nearly 76% of Nifty 500 stocks still trade above their 10-day moving average, suggesting room for a bounce. A fall below 24,700 could, however, open the door to further downside toward 24, now, Dalal Street seems to be betting on resilience. But with no fresh triggers on the horizon and global uncertainties looming, the rally may turn stock-specific as investors tread cautiously through a likely consolidation phase.(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.)Tune InMust Watch
India Today
19-05-2025
- Business
- India Today
Sensex, Nifty today: Key levels and sectors to watch. Here's how to trade
The stock market is expected to open lower on Monday with the Sensex and Nifty likely to begin the week on a quiet note. This comes as investors look for fresh triggers after a strong rally last benchmark indices ended in red on Friday. Traders chose to book profits after days of gains. The Nifty50 had jumped 4.2% last week, while foreign portfolio investors bought shares worth Rs 15,925 crore, marking their fifth straight week of LEVELS TO WATCHMarket experts say there is still positive momentum in the market, but traders should be cautious and focus on key Gaggar, Director of Progressive Shares, said, 'The weekly line chart of the Index displays a rounding bottom breakout, signaling strong bullish momentum. The key levels to watch for the Index are resistance at 25,200 and support at 24,930. In BankNifty, a Bullish Flag and Pole formation is forming, with immediate resistance at 55,580 and support at 54,900, awaiting breakout confirmation.'He added that many sectors are showing strong signals on the charts. These include auto, energy, metal, pharma, real estate, and TO KEEP AN EYE ONGaggar shared a detailed sector-wise breakdown of how different parts of the market are looking based on chart patterns:Auto: Stocks like Bajaj Auto and Exide Industries are showing bullish signals such as inverted head and shoulder breakouts and falling channel After over three months of moving sideways, this sector is now showing strong upward movement. Stocks like CG Power, JSW Energy, and SJVN have seen bullish This sector is showing a reversal of the earlier downward trend. Jindal Steel and SAIL have both seen symmetrical triangle The sector is expected to see a strong rally after a breakout from an inverted head and shoulder A range breakout has been seen in this sector, with stocks like AnantRaj and DLF showing symmetrical triangle Stocks like HBL Engineering, IRFC, Jupiter Wagon, Railtel, RVNL, Texmaco Rail, and Titagarh were top gainers last week. Many of these stocks showed bullish breakouts and could be good for a 'buy on dips' This sector may see some profit-booking after a sharp rally. Investors are advised to be careful while trading these concluded, 'Summing up all the above analysis, we conclude that the 'buy on dips' strategy would be ideal.'MARKET OUTLOOK AND RISKSDr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said, 'An apparently perplexing trend from the last trading day is that the market declined despite Rs 14,018 crore of institutional buying (FIIs plus DIIs). This indicates that FIIs are increasing their short positions in the derivatives market. So expect more volatility ahead.'He also warned about the recent rally in defence stocks.'An important trend in the market is the sharp rally in defence stocks. Even though this segment has bright medium to long-term prospects, their valuations have become excessive and, therefore, investors have to be extremely cautious. Some profit booking in this segment would be appropriate,' Vijayakumar 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.)Tune InMust Watch
