Latest news with #USFederalAppealsCourt
India Gazette
5 days ago
- Business
- India Gazette
Nifty, Sensext in pressure as US Federal court gives interim go ahead on Trump tariffs till Higher Court decides
Mumbai (Maharashtra) [India], May 30 (ANI): Indian stock markets opened flat in the red on Friday, as global concerns once again pressured investor sentiment. The recent decision by the US Federal Appeals Court to allow the Trump administration to continue with its tariff policy till a higher court decides has impacted market mood across the globe. Investors are now awaiting further clarity from higher courts, which will take a final call on the legal challenges against these tariffs. At the opening bell, the benchmark Nifty 50 index slipped by 21.00 points or 0.08 per cent to 24,812.60. Similarly, the BSE Sensex began the day with a decline of 167.33 points or 0.20 per cent at 81,465.69. The weakness in the Indian markets mirrors the overall negative trend in major Asian indices, and analysts believe the sentiment will remain cautious until there is clarity on the tariff situation. Ajay Bagga, Banking and Market Expert, told ANI, 'US markets gave up gains and Asian markets are down this morning on the back of this uncertainty. Indian markets saw volatility reducing despite it being an expiry day. Stronger inflows, expectations of a good India GDP number later this evening and resilient domestic flows are making the outlook for the Indian markets optimistic, though the US policy chaos is an overhang on all risk markets for now. Hopefully, clarity will emerge by July on the tariff front and markets will start positioning for that in June itself'. On the sectoral front, pressure was seen across all major NSE sectoral indices, except the Nifty PSU Bank index, which opened in green. The highest selling was seen in Nifty IT, which declined by 0.9 per cent. Other sectors like Nifty Pharma, Nifty Metal, and Nifty FMCG also remained in the red, although the losses were limited and the indices stayed mostly flat. Broader market indices presented a mixed picture. While Nifty Small Cap and Nifty Midcap indices were trading in the green, the Nifty 100 also opened in red, mirroring the cautious tone of the benchmarks. Global markets also showed signs of stress. Japan's Nikkei 225 was down over 1.4 per cent, Hong Kong's Hang Seng declined by 1.47 per cent, and South Korea's KOSPI index dropped by 0.61 per cent. Almost all major Asian markets were in negative territory, largely reacting to the same tariff-related concerns and uncertain global economic outlook. As the day progresses, all eyes will be on the domestic GDP data to see if it can help lift market sentiment, at least in the short term. (ANI)
Mint
5 days ago
- Business
- Mint
Stocks to buy: Rajesh Palviya of Axis Sec suggests Chennai Petroleum, Strides Pharma, Paytm shares today
Stock market today: Indian stock markets opened flat in the red on Friday, reflecting ongoing global concerns that are impacting investor sentiment. The recent ruling by the US Federal Appeals Court, which permits the Trump administration to maintain its tariff policy while awaiting a decision from a higher court, has added to the uncertainty that is affecting markets worldwide. Investors are now looking for clearer guidance from the higher courts regarding the legal challenges surrounding these tariffs. At the start of trading, the benchmark Nifty 50 index declined by 21.00 points or 0.08%, reaching 24,812.60. Similarly, the BSE Sensex opened lower, down by 167.33 points or 0.20%, at 81,465.69. This weakness in Indian markets is consistent with the overall negative sentiment observed in major Asian indices. Analysts suggest that caution is likely to prevail until there is more clarity on the tariff situation. On the technical front, Rajesh Palviya of Axis Securities expects Nifty 50 to extend towards 25,200-25,500 levels. Palviya suggests three stocks to buy, sell and accumulate. Check out his views. The benchmark index is in a strong uptrend, forming a series of higher tops and bottoms, indicating bullish sentiments. Nifty 50 is firmly placed above its 20,50,100, and 200-day SMA, which reconfirms a bullish trend on a higher time frame. Over the past 12-13 sessions, the index is consolidating within 25,200-24,500 levels, and hence any either-side breakout may indicate further direction. On the upside, the index is expected to extend this momentum towards the 25,200-25,500 levels. The crucial support zone is located around the 24,600-24,500 levels; hence, any minor correction around this remains a buying opportunity for traders. The weekly strength indicator, RSI, is in positive territory, indicating rising strength. On the weekly chart, the Chennai Petroleum share price has confirmed an "inverse head and shoulders", a trend reversal pattern at 668 levels on a closing basis, indicating bullish sentiments. This breakout is accompanied by huge volumes, indicating increased participation. Chennai Petroleum share price is sustaining above its 20-, 50, 100, and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily and weekly strength indicators, including the Relative Strength Index (RSI), are in favourable territory, indicating rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 765-800, and its downside support zone is the 685-665 levels. On the daily chart, the Paytm share price has confirmed a "down-sloping trendline" breakout at 870 levels on a closing basis. This buying momentum was observed around the 20-day SMA support zone at 852 levels, which remains a crucial support zone. Paytm share price is sustaining above its 20, 50, 100, and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily, weekly and monthly strength indicators, including the Relative Strength Index (RSI), are in favourable territory, indicating rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is 913-955, and its downside support zone is the 850-820 levels. Strides Pharma Science share price decisively surpassed the past eight months' "multiple resistance zone" of 760 levels on a closing basis, which shows bullish sentiments. This breakout is accompanied by huge volume, which signals increased participation. In addition, the daily band Bollinger buy signal indicates increased momentum. Strides Pharma Science share price is sustaining above its 20, 50, 100, and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend and these averages are also inching up along with price rise, which reconfirms bullish sentiments. The daily, weekly and monthly strength indicators, including the Relative Strength Index (RSI), are in favourable territory, indicating rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is 860-930, and its downside support zone is the ₹ 760-715 levels. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
5 days ago
- Business
- Mint
Nifty, Sensext in pressure as US Federal court gives interim go ahead on Trump tariffs till Higher Court decides
Mumbai [India], : Indian stock markets opened flat in the red on Friday, as global concerns once again pressured investor sentiment. The recent decision by the US Federal Appeals Court to allow the Trump administration to continue with its tariff policy till a higher court decides has impacted market mood across the globe. Investors are now awaiting further clarity from higher courts, which will take a final call on the legal challenges against these tariffs. At the opening bell, the benchmark Nifty 50 index slipped by 21.00 points or 0.08 per cent to 24,812.60. Similarly, the BSE Sensex began the day with a decline of 167.33 points or 0.20 per cent at 81,465.69. The weakness in the Indian markets mirrors the overall negative trend in major Asian indices, and analysts believe the sentiment will remain cautious until there is clarity on the tariff situation. Ajay Bagga, Banking and Market Expert, told ANI, "US markets gave up gains and Asian markets are down this morning on the back of this uncertainty. Indian markets saw volatility reducing despite it being an expiry day. Stronger inflows, expectations of a good India GDP number later this evening and resilient domestic flows are making the outlook for the Indian markets optimistic, though the US policy chaos is an overhang on all risk markets for now. Hopefully, clarity will emerge by July on the tariff front and markets will start positioning for that in June itself". On the sectoral front, pressure was seen across all major NSE sectoral indices, except the Nifty PSU Bank index, which opened in green. The highest selling was seen in Nifty IT, which declined by 0.9 per cent. Other sectors like Nifty Pharma, Nifty Metal, and Nifty FMCG also remained in the red, although the losses were limited and the indices stayed mostly flat. Broader market indices presented a mixed picture. While Nifty Small Cap and Nifty Midcap indices were trading in the green, the Nifty 100 also opened in red, mirroring the cautious tone of the benchmarks. Global markets also showed signs of stress. Japan's Nikkei 225 was down over 1.4 per cent, Hong Kong's Hang Seng declined by 1.47 per cent, and South Korea's KOSPI index dropped by 0.61 per cent. Almost all major Asian markets were in negative territory, largely reacting to the same tariff-related concerns and uncertain global economic outlook. As the day progresses, all eyes will be on the domestic GDP data to see if it can help lift market sentiment, at least in the short term. This article was generated from an automated news agency feed without modifications to text.
