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Economic Times
28-05-2025
- Business
- Economic Times
Indices decline over 1% amid global market concerns and profit booking
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: India's equity indices fell more than 1% on Tuesday, although the gauges recouped some losses through a choppy trading session marked by weak global cues and profit-booking in heavyweight sectors ahead of the monthly expiry. Analysts said the undertone remains bullish, despite Tuesday's NSE Nifty fell 0.7%, or 174.95 points, to finish at 24,826.20. The BSE Sensex moved 0.8%, or 624.82 points, lower at 81,551.63."The market was jittery amid global nervousness due to lack of clarity on Donald Trump's tariffs, and trade agreements. With the F&O expiry coming up, investors remained cautious," said Siddartha Khemka, Head of Retail Research, Motilal Oswal Financial Services A lack of positive triggers at the tail end of the earnings season on the domestic front also caused the gauges to lose momentum, said Nasdaq Composite Index fell 1% while the Dow Jones Industrial Average declined 0.6%, on Friday. The US markets were closed Monday for the Memorial Day Asia, China and Taiwan fell 0.2% and 0.9%, respectively, while South Korea declined 0.3%. Japan rose 0.5% and Hong Kong rose 0.4%.Analysts said that heavyweight sectors, such as banking, IT and FMCG that together make up almost 60% of the benchmark, witnessed profit booking due to the monthly expiry."The markets were trading lower after testing 25,050 levels during the day and the call concentration and open interest was highest at these levels in Nifty," said Vikas Jain, head of research, Reliance Securities. "The rollover moved up to almost 48% from 35%."The Volatility Index or VIX - the market's fear gauge - gained 2.85% to 18.5 on Tuesday, indicating traders expect higher risks in the near FMCG and IT indices fell 0.9% and 0.8%, respectively, while Bank Nifty moved 0.4% lower. Nifty Auto Index declined 0.7%. The broader market bucked the downtrend and ended higher with the Nifty Mid-cap 150 index advancing 0.21% while the small-cap 250 index ended 0.11% higher. In past week, the mid-cap index and small-cap index rose 1.8% and 1.6%. 'While headline indices witnessed profit-booking due to weak global cues, broader market witnessed good momentum supported by institutional buying in selective sectors,' said Khemka.'IPOs have started coming up which indicates broader market strength.' Out of the 4,084 shares traded on BSE, 1,897 advanced, while 2,053 declined. Foreign portfolio investors (FPIs) bought shares worth a net Rs 348.5 crore on Tuesday. Their domestic counterparts bought shares worth Rs 10,104.6 crore. In May, overseas investors bought Rs 15,132.3 crore. Technical analysts said 24,650 is a key level on the downside and if benchmark Nifty breaches this level, then further corrections are possible till 24,300 levels. However, the momentum is positive.
Time of India
28-05-2025
- Business
- Time of India
Indices decline over 1% amid global market concerns and profit booking
The Volatility Index or VIX - the market's fear gauge - gained 2.85% to 18.5 on Tuesday, indicating traders expect higher risks in the near term. Indian equity indices experienced a decline of over 1% on Tuesday, influenced by weak global cues and profit-booking in key sectors ahead of the monthly expiry. Despite the downturn, analysts maintain a bullish outlook. Market sentiment was also affected by uncertainty surrounding Donald Trump's tariffs and trade agreements, contributing to investor caution. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: India's equity indices fell more than 1% on Tuesday, although the gauges recouped some losses through a choppy trading session marked by weak global cues and profit-booking in heavyweight sectors ahead of the monthly expiry. Analysts said the undertone remains bullish, despite Tuesday's NSE Nifty fell 0.7%, or 174.95 points, to finish at 24,826.20. The BSE Sensex moved 0.8%, or 624.82 points, lower at 81,551.63."The market was jittery amid global nervousness due to lack of clarity on Donald Trump's tariffs, and trade agreements. With the F&O expiry coming up, investors remained cautious," said Siddartha Khemka, Head of Retail Research, Motilal Oswal Financial Services A lack of positive triggers at the tail end of the earnings season on the domestic front also caused the gauges to lose momentum, said Nasdaq Composite Index fell 1% while the Dow Jones Industrial Average declined 0.6%, on Friday. The US markets were closed Monday for the Memorial Day Asia, China and Taiwan fell 0.2% and 0.9%, respectively, while South Korea declined 0.3%. Japan rose 0.5% and Hong Kong rose 0.4%.Analysts said that heavyweight sectors, such as banking, IT and FMCG that together make up almost 60% of the benchmark, witnessed profit booking due to the monthly expiry."The markets were trading lower after testing 25,050 levels during the day and the call concentration and open interest was highest at these levels in Nifty," said Vikas Jain, head of research, Reliance Securities. "The rollover moved up to almost 48% from 35%."The Volatility Index or VIX - the market's fear gauge - gained 2.85% to 18.5 on Tuesday, indicating traders expect higher risks in the near FMCG and IT indices fell 0.9% and 0.8%, respectively, while Bank Nifty moved 0.4% lower. Nifty Auto Index declined 0.7%. The broader market bucked the downtrend and ended higher with the Nifty Mid-cap 150 index advancing 0.21% while the small-cap 250 index ended 0.11% higher. In past week, the mid-cap index and small-cap index rose 1.8% and 1.6%. 'While headline indices witnessed profit-booking due to weak global cues, broader market witnessed good momentum supported by institutional buying in selective sectors,' said Khemka.'IPOs have started coming up which indicates broader market strength.' Out of the 4,084 shares traded on BSE, 1,897 advanced, while 2,053 declined. Foreign portfolio investors (FPIs) bought shares worth a net Rs 348.5 crore on Tuesday. Their domestic counterparts bought shares worth Rs 10,104.6 crore. In May, overseas investors bought Rs 15,132.3 crore. Technical analysts said 24,650 is a key level on the downside and if benchmark Nifty breaches this level, then further corrections are possible till 24,300 levels. However, the momentum is positive.
Economic Times
22-04-2025
- Business
- Economic Times
Nifty roars past 24,000 for first time since January
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: India's equity indices rose over 1% on Monday - extending gains for the fifth straight trading session - with the Nifty closing above 24,000 for the first time since January 3, led by upsides in Information Technology (IT) and banking stocks after fourth quarter earnings of select heavyweights in these sectors beat expectations. Analysts said upsides could continue due to short covering until the monthly derivatives expiry on April 24, as investors await earnings of other large blue-chip companies later this NSE Nifty gained 1.2%, or 273.90 points, to finish at 24,125.55. The BSE Sensex moved 1.1%, or 855.30 points, higher at 79,408.50. Both indices have surged up to 6% each in the past five trading sessions."The gains in the market were driven by the strong results by the benchmark heavyweights such as ICICI Bank and HDFC Bank , while the optimistic guidance on improving outlook by IT bellwether Infosys triggered a short squeeze in the IT stocks ," said Siddartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Khemka said India's trade talks with the US and the American Vice President J D Vance's visit to India are positive for India. Tech Mahindra emerged as the top gainer on both indices, soaring 5.14% on NSE while Trent and IndusInd Bank gained over 4% sectoral indices except FMCG closed higher. The Nifty IT Index surged 2.3% on Monday while Bank Nifty gained 1.9% and hit an all-time high."IT stocks witnessed short covering because most of the negatives are already priced in while banking stocks saw buildup of long positions after investors gained confidence in the latter post ICICI Bank and HDFC Bank's earnings," said Rajesh Palviya, Head of Technical and Derivatives, Axis said the Nifty can move towards 24,500 level, with 23,800 as a key support level. Since the prospects of banks are tied to the Indian economy, investors perceive the sector to be insulated from the uncertainties around tariffs and the trade war. Tech Mahindra, Axis Bank Hindustan Unilever and HCL Technologies , among others, will report earnings for the quarter ended March 31 this week. Khemka said short covering is anticipated to continue in the market, and the renewed buying by foreign investors in the recent sessions is supporting the portfolio investors (FPIs) bought shares worth a net Rs 1,970.2 crore on Monday. Their domestic counterparts sold shares worth Rs 246.6 crore. In the last three trading sessions, overseas investors divested Rs 14,600 crore of equities in Nifty Mid-cap 150 index and the Small-cap 250 index rose 2.2% and 1.9%, respectively. In the past week, the mid-cap and small-cap indices jumped over 6% of the 4,247 shares traded on BSE, 2,903 advanced, while 1,199 declined. Elsewhere in Asia, China moved 0.5% higher while Indonesia and South Korea advanced 0.1% and 0.2%, respectively. Taiwan and Japan fell 1.5% and 1.3%.
Time of India
22-04-2025
- Business
- Time of India
Nifty roars past 24,000 for first time since January
Mumbai: India's equity indices rose over 1% on Monday - extending gains for the fifth straight trading session - with the Nifty closing above 24,000 for the first time since January 3, led by upsides in Information Technology (IT) and banking stocks after fourth quarter earnings of select heavyweights in these sectors beat expectations. Analysts said upsides could continue due to short covering until the monthly derivatives expiry on April 24, as investors await earnings of other large blue-chip companies later this week. The NSE Nifty gained 1.2%, or 273.90 points, to finish at 24,125.55. The BSE Sensex moved 1.1%, or 855.30 points, higher at 79,408.50. Both indices have surged up to 6% each in the past five trading sessions. "The gains in the market were driven by the strong results by the benchmark heavyweights such as ICICI Bank and HDFC Bank , while the optimistic guidance on improving outlook by IT bellwether Infosys triggered a short squeeze in the IT stocks ," said Siddartha Khemka, Head of Retail Research, Motilal Oswal Financial Services . Khemka said India's trade talks with the US and the American Vice President J D Vance's visit to India are positive for India. Agencies Tech Mahindra emerged as the top gainer on both indices, soaring 5.14% on NSE while Trent and IndusInd Bank gained over 4% each. All sectoral indices except FMCG closed higher. The Nifty IT Index surged 2.3% on Monday while Bank Nifty gained 1.9% and hit an all-time high. "IT stocks witnessed short covering because most of the negatives are already priced in while banking stocks saw buildup of long positions after investors gained confidence in the latter post ICICI Bank and HDFC Bank's earnings," said Rajesh Palviya, Head of Technical and Derivatives, Axis Securities. Palviya said the Nifty can move towards 24,500 level, with 23,800 as a key support level. Since the prospects of banks are tied to the Indian economy, investors perceive the sector to be insulated from the uncertainties around tariffs and the trade war. Tech Mahindra, Axis Bank , Hindustan Unilever and HCL Technologies , among others, will report earnings for the quarter ended March 31 this week. Khemka said short covering is anticipated to continue in the market, and the renewed buying by foreign investors in the recent sessions is supporting the momentum. Foreign portfolio investors (FPIs) bought shares worth a net Rs 1,970.2 crore on Monday. Their domestic counterparts sold shares worth Rs 246.6 crore. In the last three trading sessions, overseas investors divested Rs 14,600 crore of equities in India. The Nifty Mid-cap 150 index and the Small-cap 250 index rose 2.2% and 1.9%, respectively. In the past week, the mid-cap and small-cap indices jumped over 6% each. Out of the 4,247 shares traded on BSE, 2,903 advanced, while 1,199 declined. Elsewhere in Asia, China moved 0.5% higher while Indonesia and South Korea advanced 0.1% and 0.2%, respectively. Taiwan and Japan fell 1.5% and 1.3%.
