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Business Standard
2 days ago
- Business
- Business Standard
Stock Market LIVE Updates: GIFT Nifty signals higher open for India markets; Asian peers climb
Sensex Today | Stock Market LIVE Updates Today, June 9: At 6:40 AM, GIFT Nifty futures were ruling 66 points higher at 25,162 level Stock Market LIVE Updates Today, Monday, June 9, 2025: Stock markets today will be, largely, influenced by global market trends. However, stock-specific triggers, surge in Covid-19 cases, foreign investors' flows, and IPOs will also guide market sentiment today. At 6:40 AM, GIFT Nifty futures were ruling 66 points higher at 25,162 level. The BSE Sensex index ended 747 points, or 0.92 per cent, higher at 82,189, while the Nifty50 closed at 25,003, higher by 252 points or 1.02 per cent. "Although the Nifty remains in a consolidation phase, the buoyancy in rate-sensitive sectors—particularly the breakout seen in the banking index—has renewed hopes of a trend resumption. A decisive breakout above the 25,200 mark in the Nifty could trigger the next leg of the rally, potentially pushing the index toward the 25,600 level," said Ajit Mishra – SVP, research, Religare Broking. FIIs/FPIs net bought Indian stocks worth ₹1,009.71 crore on Friday, while DIIs bought shares worth ₹9,342.48 crore. Global markets today Asian markets were higher on Monday as investors awaited trade talks between Washington and Beijing later in the day. Japan's Nikkei 225 climbed 0.95 per cent, and South Korea's Kospi index added 1.73 per cent. Australian markets are closed for a public holiday. On the data front, Japan's January-March quarter GDP data showed that the economy contracted at a slower pace than initially estimated, with the gross domestic product shrinking at an annualised pace of 0.2 per cent as against the initial estimates of a 0.7-per cent contraction. Meanwhile, China is scheduled to report its consumer and wholesale inflation readings for May today. A Reuters poll estimate China's consumer prices to have fallen by 0.2 per cent year-on-year, while PPI is expected to have declined by 3.2 per cent from a year earlier. In the US, major Wall Street indices ended higher last Friday after a better-than-expected non-farm payrolls data eased fears of an economic slowdown. US payrolls climbed 139,000 in May, government data showed -- above the Dow Jones forecast of 125,000. The Dow Jones Industrial Average popped 1.05 per cent, the S&P 500 also gained 1.03 per cent, and the Nasdaq Composite rallied 1.20 per cent. In the commodities market, Gold prices slipped more than 1 per cent last Friday amid a stronger-than-expected US jobs report. Spot gold fell 1.1 per cent to $3,316.13 an ounce, while US gold futures settled 0.8 per cent lower at $3,346.60. IPOs Today In the IPO market, the allotment of Ganga Bath Fittings IPO will be finalised today. Besides, Sacheerome IPO (SME) will open for subscription today. Connect with us on WhatsApp
Business Recorder
03-06-2025
- Business
- Business Recorder
Indian benchmarks lower as IT, metals outweigh growth boost
BENGALURU: India's equity benchmarks ended marginally lower on Monday, led by IT and metals stocks, as global trade concerns outweighed optimism from stronger-than-expected domestic growth data. The Nifty 50 dipped 0.14% to 24,716.6, while the BSE Sensex fell 0.09% to 81,373.75. On Friday, US President Donald Trump threatened to double tariffs on imported steel and aluminium to 50% from June 4, reigniting global trade concerns. Metals and IT companies ended 0.7% lower and were the top sectoral losers by percentage. Rising trade tensions could weigh on the US economy and tech spending and delay rate cuts by the Federal Reserve amid worries of tariff-driven inflation. Metal stocks dropped as much as 1.3% during the session but pared losses after India's steel minister estimated only a minor impact from Trump's tariff announcement on steel. The losses in both sectors outweighed gains fuelled by India's economy surging 7.4% in January to March, above a Reuters forecast of growth of 6.7%. Despite upbeat economic growth, global trade turbulence has weighed on market sentiment, limiting any scope for a meaningful upside, said Ajit Mishra, senior vice president of research at Religare Broking. Investors await the Reserve bank of India's policy decision on June 6, where the central bank is expected to cut interest rates by 25 basis points.
Time of India
27-05-2025
- Business
- Time of India
Commodity Radar: Initiate long position on MCX Zinc futures for this target
Zinc prices slipped amid global metal weakness and weak Chinese demand. Despite China's economic support, sentiment stayed cautious due to US credit downgrade and trade tensions. Prices hovered in a tight range, with technical indicators hinting at a breakout soon. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Zinc prices were trading lower on Tuesday amid weakness in the metal pack and tracked prices in the international markets. The prices dragged amid weak metal demand from China while President Donald Trump's recent tariff threats against the European Union made markets nervous about the prospects of the global June contracts were trading at Rs 257.15, down by Rs 0.50 or 0.19% around 4:15 the LME, zinc prices were trading at $2,706.50, down by $1.50 or 0.06%.Commenting on the larger trend, Ajit Mishra, Senior Vice President - Research at Religare Broking said Zinc prices are trading steadily, buoyed by China's renewed economic support measures aimed at reviving its sluggish post-pandemic economy amid mounting global trade tensions 'The People's Bank of China cut benchmark lending rates for the first time since October, and major state-owned banks followed by reducing deposit rates. However, broader market sentiment remained cautious due to Moody's downgrade of the U.S. credit rating and hawkish commentary from the Federal Reserve,' Mishra said.'Zinc prices have been trading in the Rs 252–262 range for the past few sessions. The contraction in movement can be seen as an indication that a fresh move is likely to follow soon. On the hourly chart, prices are hovering inside a symmetrical triangle pattern, where a breakout above Rs. 260 will trigger bullish momentum,' Ajit Mishra, Senior Vice President - Research at Religare Broking if prices fall below the Rs 254 level, it will signal a pattern failure, and prices could slide towards the Rs 251 mark, he a strategy, one can initiate a long position above Rs 260 (June contract), targeting Rs 269, with a stop loss set at Rs 254, this analyst said.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
27-05-2025
- Business
- Economic Times
Commodity Radar: Initiate long position on MCX Zinc futures for this target
Zinc prices were trading lower on Tuesday amid weakness in the metal pack and tracked prices in the international markets. The prices dragged amid weak metal demand from China while President Donald Trump's recent tariff threats against the European Union made markets nervous about the prospects of the global economy. ADVERTISEMENT Zinc's June contracts were trading at Rs 257.15, down by Rs 0.50 or 0.19% around 4:15 pm. On the LME, zinc prices were trading at $2,706.50, down by $1.50 or 0.06%. Commenting on the larger trend, Ajit Mishra, Senior Vice President - Research at Religare Broking said Zinc prices are trading steadily, buoyed by China's renewed economic support measures aimed at reviving its sluggish post-pandemic economy amid mounting global trade tensions. 'The People's Bank of China cut benchmark lending rates for the first time since October, and major state-owned banks followed by reducing deposit rates. However, broader market sentiment remained cautious due to Moody's downgrade of the U.S. credit rating and hawkish commentary from the Federal Reserve,' Mishra said. Tech view 'Zinc prices have been trading in the Rs 252–262 range for the past few sessions. The contraction in movement can be seen as an indication that a fresh move is likely to follow soon. On the hourly chart, prices are hovering inside a symmetrical triangle pattern, where a breakout above Rs. 260 will trigger bullish momentum,' Ajit Mishra, Senior Vice President - Research at Religare Broking said. ADVERTISEMENT However, if prices fall below the Rs 254 level, it will signal a pattern failure, and prices could slide towards the Rs 251 mark, he warned. As a strategy, one can initiate a long position above Rs 260 (June contract), targeting Rs 269, with a stop loss set at Rs 254, this analyst said. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
26-05-2025
- Business
- Time of India
Banking, financials set to lead next leg of market rally: Ajit Mishra
'The long-term outlook for the defence sector is promising, driven by the government's push for indigenisation and the success of key initiatives. With an increasing focus on defence exports, new opportunities are opening up,' says Ajit Mishra , SVP–Research, Religare Broking, on sectors that could remain in focus going forward in the near term. EXCERPTS: by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo Q. The stock markets were on a seesaw, with markets alternating between gains and losses last week. Key triggers included Moody's downgrade of the US government's credit outlook and some movement in defence stocks. Could you help us break down what really drove last week's volatility? Ajit Mishra: Last to last week, markets had posted strong gains—around 4% in the Nifty and Sensex—on the back of global stability, positive news on the US–China trade front, and easing geopolitical tensions between India and Pakistan. In the past week, however, we started on a sluggish note. Sentiment turned cautious due to global cues—Moody's downgrade of the US credit outlook, weak interest in US bonds, and fears that a new US tax bill might worsen their fiscal situation. All this led to pressure in the US markets, which in turn impacted us. Live Events Additionally, FIIs, who were consistently buying, turned net sellers this week. On the domestic front, there hasn't been any major trigger. So overall, it was global concerns that caused the volatility, and we closed the week on a flat note. Q. What's your take on the near-term trend? Are we leaning more toward a bullish or bearish market in the coming weeks? Ajit Mishra: Despite the choppiness, the broader tone still looks positive. We've seen a recovery over the past month, and key sectors like banking and financials are holding strong. Even some rate-sensitive sectors are showing participation. If you exclude this week's FII selling, domestic institutions are still buying consistently. So, while we may see some consolidation due to global uncertainties and upcoming data releases, the overall outlook remains positive with an upward bias. Q. Which sectors look bullish in the near term, and which ones might underperform? Ajit Mishra: Banking and financials, after a brief consolidation, could lead the next leg of the up move. IT has also shown a rebound after underperforming for a while. Since these two sectors hold maximum weight in the index, their performance is critical. We're also seeing renewed interest in energy, metals, and realty. On the flip side, sectors like auto, pharma, and IT may remain subdued next week. However, there could still be stock-specific opportunities even within these lagging sectors. Q. The defence sector has seen a strong rally lately. From a long-term perspective—say 3 to 7 years—what should retail investors keep in mind? Ajit Mishra: The long-term outlook for defence is promising, thanks to the government's push for indigenisation and the success of several key initiatives. The focus is also shifting toward defence exports, which opens new opportunities. For long-term investors, companies with strong export capabilities in defence are the ones to watch. Stocks like HAL and BEL hold a strong position in this space and are good candidates for a 3–5 year horizon or even longer. Q. What key macroeconomic data points or global events should investors watch for this week? Ajit Mishra: The focus remains on the US. This week, we have the FOMC meeting minutes and US GDP data. On the domestic front, India's quarterly GDP numbers will be released, and updates on monsoon progress will also be important. These factors, along with global trade developments and FII flows, will play a crucial role in setting the market trend. Q. What are the key support and resistance levels for Nifty in the this week, and what is the current chart setup indicating? Ajit Mishra: After the recent rally, we were expecting some follow-up buying, especially from the banking sector. But that didn't happen, and we saw consolidation instead. The good part is that Nifty tested its 20-day EMA support, which is currently around the 24,450–24,500 zone. As long as Nifty stays above 24,500, the positive bias remains intact, and we recommend a 'buy on dips' approach. On the upside, Nifty could attempt 25,200 to 25,600. However, if it breaks below 24,500, the trend may turn sideways to slightly negative, with 24,100 acting as the next support. Q. What advice or strategy could work for retail investors in this market? Ajit Mishra: If you're chasing momentum—like in defence or railway stocks—you must plan your exit strategy in advance. Don't assume that the rally will last forever. Trail your stop-losses and book profits when you can. Also, focus on stocks that are relatively stronger—those trading near record highs—rather than those at 52-week lows, hoping they'll bounce back. Sectors like banking and financials are showing strength, so stick with the outperformers. Be disciplined, avoid emotional decisions, and always have a well-thought-out plan for both entry and exit.
