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India Gazette
3 days ago
- Business
- India Gazette
Indian stocks remain in green for second day; Sensex up 443 points
New Delhi [India], June 5 (ANI): Indian stock indices remained in the green for the second straight day on continued hopes that the India-US trade deal is on the anvil, as Trump's commerce secretary recently indicated. Firm US stock indices also lent support to Indian stock benchmarks. Today, Sensex closed at 81,442.04 per cent, up 443.79 points or 0.55 per cent, while Nifty closed at 24,750.90 points, up 130.70 points or 0.53 per cent. Nifty IT, Nifty metal, and Nifty pharma were the top movers among the sectoral indices. Among losers were Nifty Media, Nifty PSU Bank, and Nifty Private Bank. Global gold prices were also in the green today. At the time of filing this report, per ounce gold was quoted at USD 3,416, up 0.5 per cent. Going ahead, investors now await further updates on India-US trade deal negotiations and the RBI monetary policy outcome on Friday. 'Overall, the index traded in a volatile range as participants remained cautious ahead of the RBI's monetary policy decision scheduled for tomorrow,' said Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity - Ashika Stock Broking, part of Ashika Group. 'Easing US Treasury yields and a weakening US dollar provided some support to Indian equities, although global sentiment remains cautious amid persistent US-China trade tensions,' Kewat added. Another good news for the financial markets is that foreign portfolio investors (FPIs) have turned net sellers in Indian stock markets for the second straight month in May. FPIs had fuelled the latest bull run in the stock market after a sharp slump. 'Buy on dips continues to be the ideal strategy now. Rate sensitives will be preferred in view of the expected rate cut by the MPC on 8th June,' said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited. Indian stock markets outperformed global markets over the past few weeks, as volatility continued to reign in global markets over possible forthcoming US reciprocal tariffs. A comfortable inflation number in India also somewhat supported the domestic equity indices. In 2024, Sensex and Nifty accumulated a growth of about 9-10 per cent each. In 2023, Sensex and Nifty gained 16-17 per cent, on a cumulative basis. In 2022, they gained a mere 3 per cent each. (ANI)
Hans India
3 days ago
- Business
- Hans India
Sensex, Nifty end in green ahead of RBI MPC decision
Mumbai: The Indian stock market closed in the green on Thursday ahead of the key RBI monetary policy committee (MPC) decision on the repo rate. At the end of trading, the Sensex was up 443.79 points or 0.55 per cent at 81,442.04 and the Nifty gained 130.70 points or 0.53 per cent at 24,750.90. On Friday, the MPC decisions will be announced by RBI Governor Sanjay Malhotra and according to experts, the Central Bank is likely to cut the repo rate by 0.25 per cent. Meanwhile, along with largecaps, midcaps and smallcaps also saw a rise. The Nifty Midcap 100 index was up 378.35 points, or 0.65 per cent, at 58,303, and the Nifty Smallcap 100 index rose 175.50 points, or 0.96 per cent, at 18,432.60. On a sectoral basis, IT, financial services, pharma, FMCG, metals, realty and energy ended in the green and auto, PSU banks, media and private banks ended in the red. According to Sundar Kewat from Ashika Institutional Equity, Nifty traded in a volatile range as participants remained cautious ahead of the RBI's monetary policy decision. Easing US treasury yields and a weakening US dollar provided some support to Indian equities, although global sentiment remains cautious amid persistent US-China trade tensions, he mentioned. According to analysts, a golden crossover is visible on the daily chart, indicating the potential for a strong uptrend in the short term. 'Support continues to hold at 24,500; unless the Nifty breaks below this level, a serious correction is unlikely. On the contrary, a steady or even sharp recovery appears possible in the near term,' said Rupak De from LKP Securities. The Indian rupee appreciated, driven by a rebound in risk sentiment and foreign fund inflows. The currency also benefited from the general strength observed across other regional currencies. 'Looking ahead, market participants are pricing in another interest rate cut from the RBI, buoyed by stable inflation figures. The rupee's future trajectory will largely depend on the RBI's upcoming policy stance and any liquidity measures it introduces,' said Dilip Parmar from HDFC Securities.
Times of Oman
3 days ago
- Business
- Times of Oman
Indian stocks remain in green for second day; Sensex up 443 points
New Delhi: Indian stock indices remained in the green for the second straight day on continued hopes that the India-US trade deal is on the anvil, as Trump's commerce secretary recently indicated. Firm US stock indices also lent support to Indian stock benchmarks. Today, Sensex closed at 81,442.04 per cent, up 443.79 points or 0.55 per cent, while Nifty closed at 24,750.90 points, up 130.70 points or 0.53 per cent. Nifty IT, Nifty metal, and Nifty pharma were the top movers among the sectoral indices. Among losers were Nifty Media, Nifty PSU Bank, and Nifty Private Bank. Global gold prices were also in the green on Thursday. At the time of filing this report, per ounce gold was quoted at USD 3,416, up 0.5 per cent. Going ahead, investors now await further updates on India-US trade deal negotiations and the RBI monetary policy outcome on Friday. "Overall, the index traded in a volatile range as participants remained cautious ahead of the RBI's monetary policy decision scheduled for tomorrow," said Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity - Ashika Stock Broking, part of Ashika Group. "Easing US Treasury yields and a weakening US dollar provided some support to Indian equities, although global sentiment remains cautious amid persistent US-China trade tensions," Kewat added. Another good news for the financial markets is that foreign portfolio investors (FPIs) have turned net sellers in Indian stock markets for the second straight month in May. FPIs had fuelled the latest bull run in the stock market after a sharp slump. "Buy on dips continues to be the ideal strategy now. Rate sensitives will be preferred in view of the expected rate cut by the MPC on 8th June," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited. Indian stock markets outperformed global markets over the past few weeks, as volatility continued to reign in global markets over possible forthcoming US reciprocal tariffs. A comfortable inflation number in India also somewhat supported the domestic equity indices. In 2024, Sensex and Nifty accumulated a growth of about 9-10 per cent each. In 2023, Sensex and Nifty gained 16-17 per cent, on a cumulative basis. In 2022, they gained a mere 3 per cent each.
NDTV
27-05-2025
- Business
- NDTV
Sensex Falls 625 Points, Stock Market Ends Lower On Profit Booking
Mumbai: The Indian stock market closed in the red on Tuesday due to profit booking, driven by valuation concerns and weakness across the Asian markets. At the end of trading, Sensex was down 624.82 points or 0.76 per cent at 81,551.63 and Nifty was down 174.95 points or 0.70 per cent at 24,826.20. The decline was led by FMCG, IT, auto and metal sectors. Nifty Auto index closed down 0.70 per cent, Nifty IT index 0.75 per cent, Nifty Financial Service index 0.64 per cent and Nifty FMCG index 0.88 per cent. Unlike largecap, buying was seen in smallcap and midcap indexes. The Nifty Midcap 100 index rose 87.25 points, or 0.15 per cent, to close at 57,154.50, and the Nifty Smallcap 100 index rose 17.35 points, or 0.10 per cent, to close at 17,725.15. "The Nifty has been consolidating for the past 10-11 days, setting an indecisive tone among investors. However, the overall trend remains strong as the index continues to sustain above the short-term moving average," said Rupak De from LKP Securities. The short-term outlook remains positive, with the potential to reach the 25,000-25,150 range. On the lower end, support is placed at 24,700, he mentioned. Markets had a volatile session, marked by sharp swings on both sides. Sectoral performance was mixed. PSU banks and realty stocks stood out with positive momentum, while major weakness was visible in consumer goods, IT, auto, consumption and financial services sectors. "All in all, today's session was a classic example of indecision, with bulls and bears both making bold attempts," said Sundar Kewat from Ashika Institutional Equity. Conversely, "mid and smallcap segments remained relatively resilient, supported by better than estimated Q4 earnings and moderation in premium valuation," added Vinod Nair, Head of Research, Geojit Investments Limited. On rupee's performance, Dilip Parmar from HDFC Securities said that in the near term, "the spot USD-INR pair is anticipated to rise incrementally due to month-end adjustments and demand from oil importers. The pair faces resistance at 85.90 and has support at 84.80".
New Indian Express
27-05-2025
- Business
- New Indian Express
Nifty and Sensex swing wildly as bears dominate volatile session
The stock market witnessed a fierce battle between bulls and bears in Tuesday's highly volatile session, with the latter ultimately taking control. The Nifty opened flat at 24,956 but quickly faced selling pressure, plunging to an intraday low of 24,737. Just as the bears seemed dominant, the index staged a sharp rebound, surging to a day's high of 25,062. However, the second half saw another wave of profit booking, erasing all gains and dragging the Nifty to a fresh low of 24,704 before closing near the day's lowest level. The Nifty settled at 24,826, down 175 points (0.70%) The Sensex mirrored the turbulence, opening at 82,038 (against the previous close of 82,176). It tumbled nearly 900 points early but recovered by mid-morning, climbing to 82,411. Yet, the rally faltered, and the index plummeted to 81,121.70 before settling at 81,551.63, down 624.82 points (0.76%). The session highlighted intense volatility as investors grappled with shifting momentum. 'All in all, today's session was a classic example of indecision, with bulls and bears both making bold attempts,' said Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity. He highlighted that options data shows the highest Call OI at the 25,000 strike, suggesting it may act as a stiff resistance, while the Put OI is heaviest at 24,000, indicating a possible support zone. The Put-Call Ratio (PCR) stands at 0.81, reflecting a cautious undertone in the market. Vinod Nair, Head of Research at Geojit Investments, said that investors opted for profit booking driven by valuation concerns and weakness across Asian markets. 'The benchmark index once again failed to decisively breach the 25k resistance level, reflecting the absence of positive triggers. Large-cap stocks underperformed, weighed down by subdued FII participation and lacklustre earnings from blue-chip companies,' stated Nair. Amid the turbulence, mid and small-cap segments outperformed, with the Nifty Midcap 100 and Nifty Small cap 100 indices advancing 0.15% and 0.1%, respectively underscoring relative strength in the broader market. On the sectoral front, the NSE indices traded predominantly in the red, with Nifty FMCG, IT, and Auto leading the laggards, each declining around 1%. Banking and financials also came under pressure, as the Nifty Bank and Nifty Private Bank indices slipped close to 0.5%.
