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Time of India
3 days ago
- Business
- Time of India
RBI Hits the Bull's Eye: Stocks Surge 1%
Live Events Equities surged about 1% Friday as the Reserve Bank of India 's bigger-than-expected cut in the key policy rate and the surprise move to ease liquidity came as an impetus to a market starved of fresh triggers. Shares of lenders, real estate developers and automobile makers led the rise, with the Nifty Bank index hitting a record on expectations that the central bank's measures will ease pressure on their profitability and boost BSE Sensex rose 746.95 points to end at 82,188. The NSE Nifty 50 advanced 252.15 points to close at 25,003. 'The most important point is that monetary policy is supportive of growth and growth is good for equities,' said Ramesh Mantri, CIO, WhiteOak Capital rally on Friday helped the Sensex and Nifty post nearly 1% gains for the week and snap their two-week losing streak. Continuation of the trend will depend on the Nifty crossing a key hurdle at 25,120-25,200, beyond which it could advance to 25,500, say market watchers. Among sectoral indices, the Nifty Bank and Nifty Auto rose 1.5% each, while the Nifty Realty shot up by about 5%.'The frontloading of rate cuts augurs well for finance companies, real estate, auto and banking,' said Sunny Agrawal, head of fundamental equity research, SBI Securities.'This (frontloading of rate cuts) will have a lag effect on NII (net interest income) and immediate impact of boost in treasury income and also on urban consumption,' said greater-than-expected interest rate cut of 50 basis points and the liquidity dose were positive surprises. But the central bank's policy stance shift to 'neutral' from 'accommodative' and governor Sanjay Malhotra's remark that monetary policy is left with 'very limited space' to support growth may keep the optimism in are reasonable, except for 'narrative-driven' sectors, said Mirae Asset Investment Managers CIO Neelesh Surana, while warning investors to moderate their expectation of returns from equity. 'New investors could consider hybrid funds and avoid thematic funds,' said broader market also ended higher, with the Nifty Midcap 150 rising nearly 1% and the Nifty Smallcap 250 up 0.6%. Of the 4,156 stocks traded on the BSE, 2,278 advanced, while 1,744 Volatility Index, or VIX, the market's fear measure, declined 3% to 14.3, in line with the market rise, suggesting traders do not see risks of sharp moves in the near Asian markets, sentiment remained tepid. Chinese and Hong Kong equities ended slightly lower after a call between US and Chinese leaders failed to show progress on trade. The Shanghai Composite was flat, and the Hang Seng slipped 0.5%.At home, foreign portfolio investors (FPIs) were net buyers, purchasing shares worth Rs 1,010 crore on Friday. So far in June, they have been sellers to the tune of about ₹7,700 crore. Domestic institutional investors (DIIs) bought shares worth ₹9,342 crore on Friday Fund managers said the fall in interest rates could make equities more popular than fixed income.'The competition for interest rates is equities but as we see debt yields are falling, equities are likely to become more attractive,' said Mantri.
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Business Standard
27-05-2025
- Business
- Business Standard
Nifty retreats after hitting 25k wall; Sensex ends 625 points lower
Benchmark indices declined on Tuesday, reversing all the gains made in the previous session, as investors assessed the impact of the global trade climate on the world economy. Profit-taking in heavyweight financial and information technology stocks weighed on market performance. The Nifty 50 ended 0.7 per cent, or 175 points, lower at 24,826, while the Sensex fell 0.76 per cent, or 625 points, to close at 81,551.63. The 50-stock index had risen about 1.6 per cent in the previous two sessions, driven by foreign inflows, easing tensions between the US and the European Union, and the Reserve Bank of India's (RBI's) support for the government. 'We are likely seeing some profit-taking and liquidity divergence towards the primary market, as well as a couple of large promoter stake sales,' said Sunny Agrawal, head of fundamental equity research at SBICAP Securities. Foreign portfolio investors (FPIs) were net buyers to the tune of ₹340 crore, while domestic institutions were net buyers worth ₹10,015 crore. Although May has been the best month in terms of FPI flows, flows to other emerging markets (EMs) have been stronger. Some market experts have raised questions about the sustainability of these flows in the future, as Indian equity valuations have returned to elevated levels. 'There are better opportunities to invest within Asia, where valuations are cheap and fundamentals are sound. If the fundamentals turn, there is no reason why FPI money should not return,' said Sunil Thirumalai, head of EM and India equity strategy at UBS. UBS recently upgraded its stance on the Indian markets to 'neutral' and has set a year-end Nifty target of 26,000. 'We upgraded India because it has a very defensive and domestic profile, which is important in this market. However, valuations are still pretty expensive, which makes it hard for us to make it overweight now,' Thirumalai said. This is the third time that the Nifty has retreated after hitting 25,000 this month. To drive the Nifty past the 25,000 resistance level, investors will look to India's January–March quarter gross domestic product data, due this week, and the RBI's rate decision next week, according to analysts. 'The benchmark index once again failed to decisively breach the 25,000 resistance level, reflecting the absence of positive triggers. Largecap stocks underperformed, weighed down by subdued foreign institutional investor participation and lacklustre earnings from blue-chip companies. Conversely, mid and smallcap segments remained relatively resilient, supported by better-than-estimated fourth-quarter earnings and moderation in premium valuation,' said Vinod Nair, head of research at Geojit Financial Services. The market breadth was mixed, with 2,053 stocks declining and 1,897 advancing. Four-fifths of Sensex stocks declined. HDFC Bank, which fell 0.7 per cent, and ICICI Bank, which dropped 0.9 per cent, were the biggest drags on the Sensex. 'We are currently witnessing a tug-of-war between bulls and bears amid mixed global cues. However, favourable domestic factors, such as a good monsoon and strong macroeconomic data, are helping to maintain a positive undertone. We continue to maintain a positive outlook on the market. However, sustained strength in the banking and financial sectors is crucial for the Nifty to overcome the 25,200 hurdle and regain upward momentum,' said Ajit Mishra, senior vice-president of research at Religare Broking.
Business Recorder
27-05-2025
- Business
- Business Recorder
Financials, IT stocks weigh on Indian equity benchmarks
India's benchmark indexes fell on Tuesday, dragged by profit booking in heavyweight financials and information technology stocks, and as the broader Asian market slipped on uncertainty over U.S. trade policies. The Nifty 50 ended 0.70% lower at 24,826.20, while the BSE Sensex fell 0.76% to 81,551.63. The 50-stock index had risen about 1.6% in the previous two sessions driven by foreign inflows, easing trade tensions between the U.S. and the European Union, and the Reserve Bank of India's record dividend to the government. 'We are likely seeing some profit booking and liquidity divergence towards the primary market and a couple of large promoter stake sales,' said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities. Three initial public offerings planning to raise 64.68 billion rupees ($757.7 million) are currently open for subscription. Indian shares advance on EU tariff relief, central bank's record dividend IndiGo lost 2% after the airline's co-founder sold shares worth $1.36 billion, while Sagility India shed 5% after the health tech firm's largest shareholder proposed to sell a 15.02% stake. Ten of the 13 major sectors logged losses. Heavyweight financials and information technology stocks lost 0.64% and 0.75%, respectively. The broader, small-caps and mid-caps each rose about 0.1%. MSCI Asia ex-Japan fell 0.4%. To drive the Nifty past the 25,000 resistance level investors will take cues from the U.S. Federal Reserve minutes, India's March quarter GDP data, due this week, and the RBI's rate decision next week, analysts said. Among individual stocks, UltraTech Cement fell 2.3% as concerns over demand due to the early onset of monsoon rains weighed on cement stocks. Jio Financial Services rose 3.4%, as the company's joint venture with BlackRock got market regulator's nod for mutual funds business.
Economic Times
20-05-2025
- Business
- Economic Times
Railway stocks crack up to 6% amid broader market sell-off
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel After witnessing a sharp rally in the past few days, shares of railway companies witnessed profit booking today, falling as much as 6% on the BSE amid a broader market sell-off The shares of RITES Ltd registered the highest fall of 6.14%, going down to their day's low of Rs 277, while Titagarh Rail Systems shares fell 5.3% to a low of Rs 887.75. Jupiter Wagons followed closely with a decline of 4.55% to Rs 393.10, while Ircon tumbled 4.7% to Rs 188.00. RVNL shares recorded a 3.6% decrease, touching Rs 415.35, and IRFC fell 3.3% to reach Rs 136.75. Meanwhile, the shares of Texmaco Rail & Engineering also cracked 2.6% to Rs 155.75, whereas IRCTC registered a fall of 1.4%, hitting Rs stocks witnessed a breakout rally recently, which was buoyed by renewed optimism over resumed orders from the railways and a broader bullish sentiment in mid-cap and small-cap stocks."The run-up in railway stocks is part of sector rotation in the market, as currently we are seeing the outperformance in PSU stocks, which had been quite beaten down in the recent market correction," Sunny Agrawal, head of fundamental research at SBI Securities, had a railways PSU-based ETF gained around 16% in the past week, according to an analysis by ETMutualFunds. There are two passive funds focused on railway PSUs—one is an ETF and the other is an index Groww Nifty India Railways PSU ETF rose 16.41% during this period, while the Groww Nifty India Railways PSU Index Fund, which also tracks the railway sector, delivered a 16.35% after a sharp rise in these stocks, investors seem to have booked profit as the broader market sentiment turned on the negative side on Monday as the Nifty50 and Sensex slipped around 0.3% on Monday, dragged by losses in IT stocks after Moody's downgraded the US government's credit rating to 'AA1' from 'AAA', in early trade.: 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
20-05-2025
- Business
- Time of India
Railway stocks crack up to 6% amid broader market sell-off
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel After witnessing a sharp rally in the past few days, shares of railway companies witnessed profit booking today, falling as much as 6% on the BSE amid a broader market sell-off The shares of RITES Ltd registered the highest fall of 6.14%, going down to their day's low of Rs 277, while Titagarh Rail Systems shares fell 5.3% to a low of Rs 887.75. Jupiter Wagons followed closely with a decline of 4.55% to Rs 393.10, while Ircon tumbled 4.7% to Rs 188.00. RVNL shares recorded a 3.6% decrease, touching Rs 415.35, and IRFC fell 3.3% to reach Rs 136.75. Meanwhile, the shares of Texmaco Rail & Engineering also cracked 2.6% to Rs 155.75, whereas IRCTC registered a fall of 1.4%, hitting Rs stocks witnessed a breakout rally recently, which was buoyed by renewed optimism over resumed orders from the railways and a broader bullish sentiment in mid-cap and small-cap stocks."The run-up in railway stocks is part of sector rotation in the market, as currently we are seeing the outperformance in PSU stocks, which had been quite beaten down in the recent market correction," Sunny Agrawal, head of fundamental research at SBI Securities, had a railways PSU-based ETF gained around 16% in the past week, according to an analysis by ETMutualFunds. There are two passive funds focused on railway PSUs—one is an ETF and the other is an index Groww Nifty India Railways PSU ETF rose 16.41% during this period, while the Groww Nifty India Railways PSU Index Fund, which also tracks the railway sector, delivered a 16.35% after a sharp rise in these stocks, investors seem to have booked profit as the broader market sentiment turned on the negative side on Monday as the Nifty50 and Sensex slipped around 0.3% on Monday, dragged by losses in IT stocks after Moody's downgraded the US government's credit rating to 'AA1' from 'AAA', in early trade.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
