Latest news with #RupakDe
Hans India
a day ago
- Business
- Hans India
Trade Setup for June 6: Nifty eyes RBI cue to breakout towards 25,000+
Indian equities saw a volatile but rangebound session on June 5, with the Nifty 50 closing at 24,751, up 131 points. Despite midday gains of nearly 200 points, the index gave up most of them before ending higher. Support at 24,500 remains strong, keeping the bullish bias intact. 🔑 Key Technical Levels Support: 24,500 Immediate Resistance: 24,900 Breakout Trigger: Sustained close above 24,900 could open doors to 25,000+ 🏦 Eyes on RBI Markets are pricing in a 25 bps repo rate cut by the RBI on June 6 — the third cut this year. A deeper cut could spark bullish sentiment and push Nifty past its current ceiling. 💹 Sector & Stock Highlights Outperformers: Realty, Pharma, Healthcare Underperformers: PSU Banks, Auto, Media Top Gainers: Eicher Motors, Trent, Dr Reddy's Top Laggards: IndusInd Bank, Tata Consumer, Axis Bank Buzzing Stocks: Reliance Industries (+1%) on JPMorgan upgrade DLF, Godrej Properties on continued realty rally Hindustan Zinc (+6%) amid record silver prices 📊 Broader Market Trends Nifty Midcap 100: +0.53% Nifty Smallcap 100: +0.96% (4-month high) 📉 Analyst Views Golden crossover on Nifty's daily chart hints at short-term uptrend (Rupak De) Base formation near 24,500 supports bullish continuation (Devarsh Vakil) Watch for a decisive break above 24,900 for momentum to pick up (Om Mehra) Strategy for Traders: Long bias if Nifty holds above 24,500 and breaks past 24,900 Cautious near resistance if RBI outcome disappoints Watch rate-sensitive sectors (Realty, Banks, Auto) closely post-policy
Hans India
2 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.
Economic Times
2 days ago
- Business
- Economic Times
Market Wrap: D-Street breaks 3-day losing run amid RBI rate cut hopes; Sensex adds 261 pts, Nifty above 24,600
Synopsis Indian benchmark indices, Sensex and Nifty, snapped a three-day losing streak to end higher on Wednesday, tracking gains in global markets and buoyed by investor optimism over a potential policy easing by the Reserve Bank of India in its upcoming meeting on Friday. Indian benchmark indices, Sensex and Nifty, snapped a three-day losing streak to end higher on Wednesday, tracking gains in global markets and buoyed by investor optimism over a potential policy easing by the Reserve Bank of India in its upcoming meeting on Friday. ADVERTISEMENT The BSE Sensex gained 261 points, or 0.32%, to close at 80,998.25, while the NSE Nifty advanced 78 points, or 0.32%, to settle at 24,620. Sector Watch Shares of Eternal, Bharti Airtel, IndusInd Bank, Tech Mahindra and Reliance Industries were among the top performers on the Sensex, gaining between 1.2% and 3.3%.Focus remained on the Reserve Bank of India, as its Monetary Policy Committee began a three-day meeting amid growing expectations of a 25-basis-point rate cut, with some market participants even pencilling in a larger 50 bps move. The decision, to be announced Friday, comes after two successive 25 bps cuts in February and April, which brought the repo rate down to 6%.In the broader market, the Nifty Smallcap 100 rose 0.8%, while the Nifty Midcap 100 added 0.7%. ADVERTISEMENT Among individual stocks, Gland Pharma rose 2.2% after receiving U.S. FDA approval for a blood pressure injection. Garden Reach Shipbuilders rallied 6.5% following a partnership with Norway's Kongsberg to build a polar research vessel domestically. Swiggy surged 8.9% after block deals were executed at a premium to Monday's close. PI Industries climbed 4.2% after Japan's Kumiai Chemical, a key client, projected higher earnings for the half year. ADVERTISEMENT On the downside, Sun Pharma Advanced Research slumped 20% after its psoriasis drug failed to meet targets in a mid-stage trial. Aditya Birla Fashion and Retail sank 10.7% amid reports that Flipkart exited its 6% stake via block trades. Expert Views ADVERTISEMENT The domestic market traded in a narrow range with a mildly positive bias, supported by favourable global cues such as strong U.S. job data and signs of easing U.S.-China trade tensions, said Vinod Nair, Head of Research, Geojit Investments. "Mid-cap and small-cap stocks outperformed, driven by better than estimated earnings growth and moderation in valuation. Investors are now focused on the RBI policy meeting starting today, with expectations of a rate cut and clarity on the future growth & inflation forecast." ADVERTISEMENT The market is likely to remain sideways for another session until the announcement and follow-up commentary on Friday, said Rupak De, Senior Technical Analyst at LKP Securities, adding that "a bearish crossover in the momentum oscillator RSI signals weakening price momentum, suggesting limited movement in the near term. 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." (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY Business News › Markets › Stocks › News › Market Wrap: D-Street breaks 3-day losing run amid RBI rate cut hopes; Sensex adds 261 pts, Nifty above 24,600
The Print
3 days ago
- Business
- The Print
Markets extend losses for 3rd session amid broad-based selloff; Sensex slips below 81k
In a volatile trading session, the 30-share BSE index tanked 636.24 points or 0.78 per cent to settle at 80,737.51. During the day, it dropped 798.66 points or 0.98 per cent to 80,575.09. Domestic markets stayed on the back foot for the third straight session as investors offloaded energy, finance and IT stocks, traders said. Mumbai, Jun 3 (PTI) Equity benchmark indices Sensex and Nifty tumbled nearly 1 per cent on Tuesday, weighed down by a widespread selloff amid foreign fund outflows and growing geopolitical uncertainties. The NSE Nifty plunged 174.10 points or 0.70 per cent to 24,542.50. As many as 2,266 stocks declined, while 1,731 advanced and 147 remained unchanged on the BSE. 'The domestic market remained in negative terrain amid mixed global cues, geopolitical issues and a volatile currency market led by a weak USD. Profit-booking is evident across sectors, except for real estate stocks, supported by expectations of an interest rate cut by the RBI. 'Mid and small-cap stocks are experiencing relatively less consolidation than large caps due to better earnings growth & moderation in premium valuation. While short-term consolidation is likely to persist, strong domestic-oriented players are estimated to provide outperformance against external volatility,' Vinod Nair, Head of Research, Geojit Investments Limited, said. From the Sensex firms, Adani Ports declined 2.42 per cent. Bajaj Finserv, Bajaj Finance, Power Grid, Eternal, IndusInd Bank, Maruti, Tata Consultancy Services and UltraTech Cement were among the biggest laggards. Mahindra & Mahindra emerged as the only gainer in the pack. Adani Group's 11 listed companies ended lower. Adani Group on Monday said it does not handle any cargo coming from Iran or any Iranian-owned ship at any of its ports, as it denied any deliberate engagement in sanctions evasion. In a stock exchange filing, the group said reports of links between any of its entities and Iranian LPG are 'baseless and mischievous'. The BSE midcap gauge declined 0.52 per cent, while the smallcap index dipped 0.07 per cent. Among sectoral indices, power dropped 1.50 per cent, utilities (1.42 per cent), bankex (0.89 per cent), energy (0.88 per cent), capital goods (0.87 per cent), financial services (0.80 per cent) and teck (0.68 per cent). On the other hand, commodities and realty were the gainers. 'The Nifty has extended its consolidation phase for yet another day, showing no urgency in establishing a clear directional trend. It appears that investors are awaiting a decisive commentary following the RBI's interest rate decision,' Rupak De, Senior Technical Analyst at LKP Securities, said. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,589.47 crore on Monday, according to exchange data. 'The ongoing foreign fund outflows, coupled with weak global cues such as geopolitical tensions and uncertainty over trade deals, are adding pressure to the markets,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. In Asian markets, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in positive territory, while Japan's Nikkei 225 index ended lower. South Korean markets were closed. European markets were trading lower. US markets ended higher on Monday. Global oil benchmark Brent crude climbed 0.28 per cent to USD 64.81 a barrel. After tumbling 796.75 points or 0.97 per cent to 80,654.26 in intra-day trade on Monday, the 30-share BSE Sensex witnessed volatile trends and later ended 77.26 points or 0.09 per cent lower at 81,373.75. The Nifty dipped 34.10 points or 0.14 per cent to settle at 24,716.60. PTI SUM SUM BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hans India
3 days ago
- Business
- Hans India
Trade Setup for June 4: Key support in focus after Nifty's 290-point slide
The Nifty continued its downward drift on Tuesday, falling for a third straight session and losing a total of 290 points in just three days. Despite opening 70 points higher, the index couldn't hold its gains and reversed sharply from the intraday high of 24,850 to close 174 points lower at 24,542. This decline puts the Nifty just above its crucial support of 24,500. Analysts say a breach below the previous swing low of 24,462 could escalate selling pressure, potentially dragging the index toward the next support zones of 24,400–24,300, or even further down to the 50 DEMA near 24,185. Meanwhile, the broader market sentiment remained weak. The Nifty Bank index, which hit a record high of 56,161 in early trade, slipped 303 points to settle at 55,600. Only Nifty Realty and Media managed to stay afloat, with Realty gaining 1% amid expectations of an RBI rate cut in its upcoming June 6 policy review. Oil & Gas was the day's worst-performing index, while fertiliser stocks staged a strong rally with several counters surging over 15% on favorable global cues and positive weather forecasts. Foreign institutional investors were net sellers, while domestic investors absorbed some pressure as net buyers. Technical experts believe the Nifty is currently consolidating within a broader 24,500–25,000 range. Nagaraj Shetti of HDFC Securities stated that a breakdown below current levels may accelerate a slide toward lower support areas. Rupak De of LKP Securities highlighted that a close below 24,500 might trigger fresh short positions, pushing the index towards 24,000. However, holding above this level could pave the way for a rebound toward 24,700–24,750. The index has now closed below both its 20-day EMA and SMA, signaling short-term weakness. The near-term resistance has now shifted lower to 24,845, marking a critical barrier for any recovery attempt. With the RBI's monetary policy decision on the horizon, markets are likely to remain volatile. Traders and investors are advised to stay cautious and watch for a decisive move beyond the 24,500–24,800 range.
