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Hans India
3 days ago
- Business
- Hans India
Stock market ends in green amid positive global cues as RBI MPC begins
Mumbai: Domestic benchmark indices closed in the green on Wednesday due to favourable global cues such as strong US job data, as the ongoing RBI Monetary Policy Committee (MPC) meeting added a layer of speculation about a potential rate cut. Sensex ended 260.74 points or 0.32 per cent up at 80,998.25 while Nifty closed 77.70 points or 0.32 per cent high at 24,620.20. Midcap and smallcap performed better than largecap. Nifty Midcap 100 index was up 407.55 points or 0.71 per cent at 57,924.65 and Nifty Smallcap 100 index rose 142.95 points or 0.79 per cent at 18,257.10. On a sectoral basis, auto, IT, PSU bank, financial services, pharma, FMCG, metal, media, energy and private indices closed in the green, and only the realty index closed in the red. Rupak De from LKP Securities said the Nifty continues to exhibit a lacklustre sentiment as traders await the RBI rate decision. The market is likely to remain sideways for another session until the RBI announcement and follow-up commentary on Friday. 'Immediate support is placed at 24,500; a break below this level could lead to further weakness. On the higher side, resistance is seen at 24,750/24,900,' De added. Vikram Kasat, Head-Advisory, PL Capital, said that markets opened firmly as benchmark indices inched higher amid global tailwinds and anticipation around RBI's policy stance. 'The ongoing RBI Monetary Policy Committee meeting added a layer of speculation, especially with market participants divided over the extent of a potential rate cut. Meanwhile, upbeat US labour data lent support to global equities,' he noted. With the Nifty holding above 24,500, near-term sentiment remains constructive. However, clarity from the RBI and global macro developments will shape the next leg of the rally. Meanwhile, rupee traded weak by 25 paise at 85.87, inching closer to the 86.00 mark, as foreign investors remained in sell mode ahead of the RBI policy announcement. The rupee is seen trading in a range of 85.50 to 86.40, said analysts.
Hans India
6 days ago
- Business
- Hans India
Trade setup June 2: Sensex turns negative, forms small bearish weekly chart candle
Domestic equity markets ended the week on a cautious note, with the BSE Sensex closing 182 points lower at 81,451.01 on Friday. The index slipped into negative territory amid losses in metal, IT, and auto stocks, although banking shares lent some support. Market sentiment stayed muted as investors remained wary of global trade developments, especially after a US court upheld former President Trump's tariff policies. According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, the Sensex is currently showing signs of weakness on intraday charts and has formed a small bearish candle on the weekly chart — a sign that the market could remain range-bound in the short term. Key Levels to Watch on Monday (June 2): Support: 80,900 (also the 20-day Simple Moving Average) Resistance: 82,200 As long as the Sensex remains within the 80,900–82,200 range, a sideways trend is expected. However, a breakout above 82,200 could trigger a move towards 82,900, and potentially even 83,700. On the downside, a break below 80,900 may push the index down to 80,300 or even 79,800, Chouhan cautioned. Looking ahead, market focus will shift to the upcoming RBI Monetary Policy Committee (MPC) meeting. With inflation currently under control, analysts believe the central bank may consider measures that support economic growth. Disclaimer: This article is intended for informational purposes only and should not be taken as financial advice. Investors are advised to consult certified professionals before making any trading or investment decisions.
Economic Times
6 days ago
- Business
- Economic Times
RBI policy, FII action among 7 factors to impact D-Street this week
Live Events 1. RBI Monetary Policy Committee 2. Auto sales number 3. FII activity 4. Technical factors 5. Global markets 6. Crude movement 7. INR movement (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Markets closed the week on a cautious note, extending their consolidation phase for the second straight week. The subdued sentiment was driven by persistent global trade tensions and anticipation around key domestic policy indices—the Sensex and the Nifty—experienced sharp swings during the week before ending in the red, as investor sentiment was weighed down by uncertainty over U.S. tariff developments and the upcoming monetary policy decision by the Reserve Bank of India ( RBI ).By the end of the week, the Nifty closed at 24,750.70, while the Sensex settled at 81, Nifty remained volatile with a slightly negative bias on the first day of the June series. On the smaller time frame, the index has formed a bearish moving average crossover. The RSI on the hourly chart indicates bearish price momentum, suggesting short-term weakness. Additionally, signs of exhaustion are visible on the daily RSI, accompanied by a strong negative divergence.'However, Nifty has been struggling to move beyond a certain level. Immediate support is placed at 24,700; a breach below this level could lead to a decline towards 24,500. On the higher side, 24,800 is likely to act as a crucial resistance, as call writers have built significant positions at that level,' said Rupak De, Senior Technical Analyst at LKP that are likely to impact movement when markets reopen this week:Looking ahead, all eyes will be on the outcome of the RBI's Monetary Policy Committee (MPC) meeting scheduled for June 6. The central bank's stance on the rate trajectory, especially amid mixed macroeconomic signals, will be critical in shaping market the new month beginning, participants will track high-frequency data including auto sales numbers and other economic trend in foreign institutional investor (FII) flows will also be closely monitored. On Friday, foreign institutional investors (FIIs) were net sellers at Rs 6,449.74 crore, while the domestic institutional investors (DIIs) were net buyers at Rs 9,095.91 spending the last two weeks in a consolidation phase, the Nifty is expected to soon make a directional move. Holding above the 20-day exponential moving average (20-DEMA), currently around 24,600, will be essential to maintain a positive tone. A decisive breach of this level could trigger further profit-booking, dragging the index down toward the 24,200 mark. Conversely, a strong close above 25,200 could rekindle bullish momentum and open the path toward the 25,600+ zone.'We continue to believe that the banking index holds the key to unlocking market momentum. It has been trading within a narrow range for over a month while sustaining above its short-term support at 55,000 (20-DEMA). A breakout above 56,000 could act as a catalyst, propelling the index toward the 57,500 level,' said Ajit Mishra, SVP of Research at Religare developments in the U.S. bond market and any updates regarding ongoing trade negotiations will continue to influence investor sentiment.U.S. crude futures fell more than $1 a barrel on Friday on expectations OPEC+ will decide on Saturday to boost oil output for July beyond previous crude futures were down by 34 cents, or 0.53%, at $63.79 a barrel by 1643 GMT. U.S. West Texas Intermediate crude was last down 73 cents, or 1.2%, at $60.21 a barrel, having earlier dropped more than $1 a traded weak by 8 paise at 85.52 as the dollar index gained 0.25% to 99.46. Domestic capital markets remained flat and range-bound, reflecting mixed sentiment on FII flows.'The rupee is expected to stay volatile in the 85.00 to 85.90 range. All eyes are now on the crucial RBI monetary policy decision, which will be closely watched by market participants for further direction,' said Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP read: Vodafone Idea approves Rs 20,000 cr fundraise plans in a fight for survival (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
6 days ago
- Business
- Time of India
RBI policy, FII action among 7 factors to impact D-Street this week
Live Events 1. RBI Monetary Policy Committee 2. Auto sales number 3. FII activity 4. Technical factors 5. Global markets 6. Crude movement 7. INR movement (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Markets closed the week on a cautious note, extending their consolidation phase for the second straight week. The subdued sentiment was driven by persistent global trade tensions and anticipation around key domestic policy indices—the Sensex and the Nifty—experienced sharp swings during the week before ending in the red, as investor sentiment was weighed down by uncertainty over U.S. tariff developments and the upcoming monetary policy decision by the Reserve Bank of India ( RBI ).By the end of the week, the Nifty closed at 24,750.70, while the Sensex settled at 81, Nifty remained volatile with a slightly negative bias on the first day of the June series. On the smaller time frame, the index has formed a bearish moving average crossover. The RSI on the hourly chart indicates bearish price momentum, suggesting short-term weakness. Additionally, signs of exhaustion are visible on the daily RSI, accompanied by a strong negative divergence.'However, Nifty has been struggling to move beyond a certain level. Immediate support is placed at 24,700; a breach below this level could lead to a decline towards 24,500. On the higher side, 24,800 is likely to act as a crucial resistance, as call writers have built significant positions at that level,' said Rupak De, Senior Technical Analyst at LKP that are likely to impact movement when markets reopen this week:Looking ahead, all eyes will be on the outcome of the RBI's Monetary Policy Committee (MPC) meeting scheduled for June 6. The central bank's stance on the rate trajectory, especially amid mixed macroeconomic signals, will be critical in shaping market the new month beginning, participants will track high-frequency data including auto sales numbers and other economic trend in foreign institutional investor (FII) flows will also be closely monitored. On Friday, foreign institutional investors (FIIs) were net sellers at Rs 6,449.74 crore, while the domestic institutional investors (DIIs) were net buyers at Rs 9,095.91 spending the last two weeks in a consolidation phase, the Nifty is expected to soon make a directional move. Holding above the 20-day exponential moving average (20-DEMA), currently around 24,600, will be essential to maintain a positive tone. A decisive breach of this level could trigger further profit-booking, dragging the index down toward the 24,200 mark. Conversely, a strong close above 25,200 could rekindle bullish momentum and open the path toward the 25,600+ zone.'We continue to believe that the banking index holds the key to unlocking market momentum. It has been trading within a narrow range for over a month while sustaining above its short-term support at 55,000 (20-DEMA). A breakout above 56,000 could act as a catalyst, propelling the index toward the 57,500 level,' said Ajit Mishra, SVP of Research at Religare developments in the U.S. bond market and any updates regarding ongoing trade negotiations will continue to influence investor sentiment.U.S. crude futures fell more than $1 a barrel on Friday on expectations OPEC+ will decide on Saturday to boost oil output for July beyond previous crude futures were down by 34 cents, or 0.53%, at $63.79 a barrel by 1643 GMT. U.S. West Texas Intermediate crude was last down 73 cents, or 1.2%, at $60.21 a barrel, having earlier dropped more than $1 a traded weak by 8 paise at 85.52 as the dollar index gained 0.25% to 99.46. Domestic capital markets remained flat and range-bound, reflecting mixed sentiment on FII flows.'The rupee is expected to stay volatile in the 85.00 to 85.90 range. All eyes are now on the crucial RBI monetary policy decision, which will be closely watched by market participants for further direction,' said Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP read: Vodafone Idea approves Rs 20,000 cr fundraise plans in a fight for survival (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
