Latest news with #Vijayakumar
India Today
a day ago
- Business
- India Today
Sensex, Nifty rise as RBI rate cut hopes lift market; pharma stocks rally
Benchmark stock market indices opened higher on Thursday, extending gains from the last session as investors await a rate cut from the policy meeting of the Reerve Bank of India (RBI). Pharma and healthcare sector stocks gained in early S&P BSE Sensex was up 273 points to 81,271.25, while the NSE Nifty50 gained 86.55 points to 24,706.75 as of 9:29 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that both geopolitical and economic news are likely to weigh on markets in the near-term. "A serious concern is a potential Russian retaliation to the recent Ukraine attacks on Russian planes. How serious this will be and what will be its consequences are unknown factors now. The major economic news is the sharp dip in the US ISM PMI data. This indicates that the US economy is slowing down sharply," he BSE Sensex opened with some momentum as several stocks posted early gains in the first few minutes of led the charge right from the opening bell, surging 2.99%, followed by Reliance Industries which jumped 1.21%. PowerGrid Corporation of India also opened on a positive note, climbing 1.13%, while Adani Ports and Special Economic Zone rose 1.05%. Mahindra & Mahindra rounded out the top five gainers with an increase of 0.58%.advertisementBajaj Finance was the worst performer in early trade, declining 0.59%, while Nestle India retreated 0.40%. Bajaj Finserv also opened lower, falling 0.33%, and Bharti Airtel dropped 0.30%. Axis Bank completed the list of top five losers with a decline of 0.26%."The US 10-year bond yield has declined to 4.36 % and, given the slowing US economy, is likely to trend lower. This will turn out to be good for EMs like India in the medium term, but the spike in uncertainty will keep the market within the present range for the near-term. 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 June 8," said Vijayakumar.
Time of India
a day ago
- Business
- Time of India
RIL, Eternal drive Sensex 400 points higher, Nifty above 24,700
Indian benchmark indices Sensex and Nifty opened higher, mirroring Asian market gains, as Treasury yields and the US dollar dipped. Positive movements were seen across most sectors, led by Pharma, Oil & Gas, and Auto. Investors are anticipating the Reserve Bank of India's policy decision, with expectations of a rate cut. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Experts View Indian benchmark equity indices, Sensex and Nifty, opened higher on Thursday, mirroring gains in Asian peers, while Treasury yields and the US dollar BSE Sensex was trading 419 points, or 0.52%, higher at 81,417. The Nifty50 was up 120 points, or 0.49%, trading at 24,740 around 9:37 the Sensex pack, Eternal Reliance , M&M, and HCL Tech were among the top gainers, rising up to 2.5%. Meanwhile, Bajaj Finserv Nestle , and HUL opened with Nifty FMCG, all major sectoral indices advanced at the open, with Nifty Pharma, Oil & Gas, and Auto leading the gains, rising up to 1.2%. Broader markets also moved higher, with the smallcap index up 0.7% and the midcap index rising 0.4%.Among individual stocks, Hindustan Aeronautics HAL ) opened nearly 2% higher after the company refuted a media report claiming that its negotiations with General Electric (GE) for the local production of GE414 engines had stalled. The state-run aerospace and defence firm called the report 'factually incorrect and misleading.'The MSCI Asia ex-Japan index rose 0.5%, led by gains in Hong Kong and South Korean stocks, with the latter hitting an 11-month high on post-election Wall Street ended mixed, while Treasury yields and the dollar slipped after data showed a contraction in the U.S. services sector in May for the first time in a home, investors await the Reserve Bank of India's policy decision on Friday, with the central bank widely expected to cut key lending rates by 25 basis points for the third consecutive meeting."Both geopolitical and economic news are likely to weigh on markets in the near term. A serious concern is a potential Russian retaliation to the recent Ukraine attacks on Russian planes. How serious this will be and what will be its consequences are unknown factors now," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments."The major economic news is the sharp dip in the US ISM PMI data. This indicates that the US economy is slowing down sharply. The US 10-year bond yield has declined to 4.36 % and, given the slowing US economy, is likely to trend lower. This will turn out to be good for EMs like India in the medium term, but the spike in uncertainty will keep the market within the present range for the near-term," Vijayakumar Matalia, Derivative Analyst at Choice Broking, said, Nifty can find support at 24,600, followed by 24,400 and 24,450. On the higher side, 24,700 can be an immediate resistance, followed by 24,800 and 24,850.
Economic Times
a day ago
- Business
- Economic Times
RIL, Eternal drive Sensex 400 points higher, Nifty above 24,700
Indian benchmark equity indices, Sensex and Nifty, opened higher on Thursday, mirroring gains in Asian peers, while Treasury yields and the US dollar dipped. ADVERTISEMENT The BSE Sensex was trading 419 points, or 0.52%, higher at 81,417. The Nifty50 was up 120 points, or 0.49%, trading at 24,740 around 9:37 am. From the Sensex pack, Eternal, Power Grid, Sun Pharma, Reliance, M&M, and HCL Tech were among the top gainers, rising up to 2.5%. Meanwhile, Bajaj Finserv, Bajaj Finance, Axis Bank, Nestle, and HUL opened with losses. Barring Nifty FMCG, all major sectoral indices advanced at the open, with Nifty Pharma, Oil & Gas, and Auto leading the gains, rising up to 1.2%. Broader markets also moved higher, with the smallcap index up 0.7% and the midcap index rising 0.4%. Among individual stocks, Hindustan Aeronautics (HAL) opened nearly 2% higher after the company refuted a media report claiming that its negotiations with General Electric (GE) for the local production of GE414 engines had stalled. The state-run aerospace and defence firm called the report 'factually incorrect and misleading.' The MSCI Asia ex-Japan index rose 0.5%, led by gains in Hong Kong and South Korean stocks, with the latter hitting an 11-month high on post-election optimism. ADVERTISEMENT Overnight, Wall Street ended mixed, while Treasury yields and the dollar slipped after data showed a contraction in the U.S. services sector in May for the first time in a home, investors await the Reserve Bank of India's policy decision on Friday, with the central bank widely expected to cut key lending rates by 25 basis points for the third consecutive meeting. ADVERTISEMENT "Both geopolitical and economic news are likely to weigh on markets in the near term. A serious concern is a potential Russian retaliation to the recent Ukraine attacks on Russian planes. How serious this will be and what will be its consequences are unknown factors now," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments. ADVERTISEMENT "The major economic news is the sharp dip in the US ISM PMI data. This indicates that the US economy is slowing down sharply. The US 10-year bond yield has declined to 4.36 % and, given the slowing US economy, is likely to trend lower. This will turn out to be good for EMs like India in the medium term, but the spike in uncertainty will keep the market within the present range for the near-term," Vijayakumar added. Hardik Matalia, Derivative Analyst at Choice Broking, said, Nifty can find support at 24,600, followed by 24,400 and 24,450. On the higher side, 24,700 can be an immediate resistance, followed by 24,800 and 24,850.
India Today
3 days ago
- Business
- India Today
Sensex tumbles 700 points: What is the stock market falling today?
Benchmark stock market indices fell sharply during the afternoon trading session after a shaky start on Tuesday, dragged down by declines in heavyweight financial, banking and IT BSE Sensex was trading 740.82 points lower at 80,632.93 at around 1:13 pm, while the NSE Nifty50 fell 187.65 points to 24,528.95. All the other Nifty sectoral indices also fell as volatility rose during the financial and IT stocks fell the most, with heavyweights such as Bajaj Finserv, Axis Bank, Bajaj Finance, HDFC Bank, ICICI Bank and TCS down over 1%. In addition, shares of Adani Group companies, including Adani Enterprises and Adani Ports, fell after a Wall Street Journal (WSJ) article alleged links between Adani entities and Iranian liquefied petroleum gas (LPG) shipments. Several factors are behind today's volatile trading session, including rising Covid-19 cases in the country and growing expectations ahead of the Reserve Bank of India's monetary policy (MPC) VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, 'Since the MPC is expected to cut policy rate by 25 bp in the policy meet on 8th, rate sensitives are likely to be favoured in the coming days."He added that during a consolidation phase, where the market moves within a range, buy-on-dips is the ideal strategy. 'And this strategy is working well now. With a lot of uncertainty in geopolitics, tariffs and trade, the market will remain volatile. Therefore, investors may persist with the strategy of buying on dips,' he he also highlighted that the concern in the market now is the high valuation, particularly in the broader market.'But the trends in money flows into the market and the healthy trend of retail investors persisting with their investment for longer periods, indicate that Indian equities will remain at higher valuations for an extended period of time,' Vijayakumar said.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
The Hindu
3 days ago
- Business
- The Hindu
Markets decline in early trade on foreign fund outflows, global trade concerns
Equity benchmark indices Sensex and Nifty declined in early trade on Tuesday (June 3, 2025) amid uncertainty on the geopolitical and global trade front. Foreign fund outflows also weighed on investors' sentiments. The 30-share BSE Sensex declined 194.65 points to 81,179.10 in early trade. The NSE Nifty dipped 62.35 points to 24,654.25. From the Sensex firms, Adani Ports, Larsen & Toubro, Bajaj Finance, ICICI Bank, Bharti Airtel and Hindustan Unilever were among the biggest laggards. Eternal, Tata Steel, Mahindra & Mahindra and IndusInd Bank were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,589.47 crore on Monday (June 2, 2025), according to exchange data. "With a lot of uncertainty in geopolitics, tariffs and trade, the market will continue to remain volatile. Therefore, investors may persist with the strategy of buying on dips," V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading in the positive territory. U.S. markets ended higher on Monday. Global oil benchmark Brent crude climbed 0.57% to $65 a barrel. After tumbling 796.75 points or 0.97% 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% lower at 81,373.75. The Nifty dipped 34.10 points or 0.14% to settle at 24,716.60.
