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Hans India
19 hours ago
- Business
- Hans India
Markets end lower on IT drag, weak Asian cues
Mumbai:Stock markets closed lower in a range-bound trade on Friday following losses in IT shares and sluggish trends in Asian markets due to trade uncertainty after a US appeals court temporarily reinstated reciprocal tariffs. The 30-share BSE Sensex declined by 182.01 points or 0.22 per cent to settle at 81,451.01 as 24 of its constituents retreated and six advanced. During the day, it dropped 346.57 points or 0.42 per cent to 81,286.45. The NSE Nifty dipped 82.90 points or 0.33 per cent to 24,750.70. Metals, IT, and auto sector shares declined while banking shares gained. Investors were cautious ahead of the release of domestic GDP data post-market hours, analysts said. Among Sensex firms, Tech Mahindra fell the most by 1.73 per cent. HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel also closed lower. Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers. 'A range-bound movement continued in the market, with the temporary reinstatement of US tariffs by the appeal court influencing investors to stay on the sideline. The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. 'Meanwhile, FII inflows continued due to the volatility in the US 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI,' Vinod Nair, Head of Research, Geojit Investments Limited, said. 'Markets languished in negative territory to end lower amid weak Asian cues as investors cut their position in IT, metal, oil & gas and auto shares,' Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. The BSE midcap gauge declined 0.39 per cent while smallcap index went up by 0.17 per cent. Among sectoral indices, metal dropped the most by 1.68 per cent, followed by BSE Focused IT (1.14 per cent), commodities (1.14 per cent), utilities (1.09 per cent), teck (0.99 per cent), auto (0.91 per cent) and telecommunication (0.79 per cent). Financial Services, bankex and capital goods were the gainers. On the weekly front, the BSE benchmark declined 270.07 points or 0.33 per cent and the Nifty dipped 102.45 points or 0.41 per cent. Foreign Institutional Investors (FIIs) bought equities worth Rs 884.03 crore on Thursday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 4,286.50 crore, according to exchange data. The BSE Sensex climbed 320.70 points or 0.39 per cent to settle at 81,633.02 on Thursday. The 50-share Nifty went up by 81.15 points or 0.33 per cent to 24,833.60.
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Business Standard
a day ago
- Business
- Business Standard
Sensex down 182, Nifty at 24,751 as US tariffs keep investors cautious
After a flat opening, Indian equity benchmark indices remained under pressure on Friday, weighed down by weak global cues as investors remained cautious after the temporary reinstatement of US tariffs. After hitting intraday low of 81,286.46, the Sensex settled at 81,451, down by 182 points or 0.22 per cent. The Nifty50 closed at 24,750.1 levels, down by 82.90 points or 0.33 per cent. However, the broader markets settled flat with a negative bias. The NSE Midcap 100 index fell 0.06 per cent lower, while the NSE Smallcap 100 fell 0.03 per cent. Vinod Nair, head of research at Geojit Investments, said, a range-bound movement continued in the market, with the temporary reinstatement of US tariffs by the appeal court influencing investors to stay sidelined. The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. "Meanwhile, FII inflows continued due to the volatility in the US 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI," he added. Barring Nifty PSU Bank, all other sectoral indices ended in red, with Nifty Metal and Nifty IT emerging as the top losers. Nifty Metal was the top sectoral loser, down by 1.69 per cent, pulled by fall in Jindal Stainless (4.09 per cent), Vedanta (4.36 per cent), Hindalco (2.5 per cent), Jindal Steel (2.46 per cent), and Hindustan Copper down 1.72 per cent. From the Sensex constituents, 25 out of 30 stocks settled lower, falling up to 2 per cent. The top laggards included HCL Tech (1.95 per cent), Tech Mahindra (1.73 per cent), Infosys (1.54 per cent), Asian Paints (1.53 per cent), NTPC (1.53 per cent) and Sun Pharma down 1.4 per cent. Among the gainers were Eternal, State Bank of India, HDFC Bank, L&T and Bajaj Finserv. According to Ajit Mishra, senior vice president for research at Religare Broking markets began the June expiry on a muted note and ended marginally lower, continuing the ongoing consolidation phase. Participants are now awaiting a fresh trigger to break the consolidation and resume the broader trend. In the meantime, one should align their trades with sectoral trends and themes that are attracting noticeable interest. "We recommend maintaining a 'buy on dips' approach, unless the Nifty decisively breaks below its first line of defense—the 20-day exponential moving average (DEMA), currently around the 24,600 level. A breach of this level could increase pressure and extend the current consolidation phase," Mishra said.
The Hindu
a day ago
- Business
- The Hindu
Sensex declines 182 points on losses in IT, metal shares, sluggish Asian peers
Stock markets closed lower in a range-bound trade on Friday (May 30, 2025) following losses in IT shares and sluggish trends in Asian markets due to trade uncertainty after a U.S. appeals court temporarily reinstated reciprocal tariffs. The 30-share BSE Sensex declined by 182.01 points or 0.22% to settle at 81,451.01 as 24 of its constituents retreated and six advanced. During the day, it dropped 346.57 points or 0.42%, to 81,286.45. The NSE Nifty dipped 82.90 points or 0.33%, to 24,750.70. Metals, IT, and auto sector shares declined while banking shares gained. Investors were cautious ahead of the release of domestic GDP data post-market hours, analysts said. Among Sensex firms, Tech Mahindra fell the most by 1.73%. HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel also closed lower. Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers. 'A range-bound movement continued in the market, with the temporary reinstatement of U.S. tariffs by the appeal court influencing investors to stay on the sideline. The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. 'Meanwhile, FII inflows continued due to the volatility in the U.S. 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI,' Vinod Nair, Head of Research, Geojit Investments Limited, said. 'Markets languished in negative territory to end lower amid weak Asian cues as investors cut their positions in IT, metal, oil & gas and auto shares,' Prashanth Tapse, Senior VP (Research), Mehta Equities Limited, said. The BSE midcap gauge declined 0.39% while smallcap index went up by 0.17%. Among sectoral indices, metal dropped the most by 1.68%, followed by BSE Focused IT (1.14%), commodities (1.14%), utilities (1.09 per cent), tech (0.99%), auto (0.91%) and telecommunication (0.79%). Financial Services, bankex and capital goods were the gainers. On the weekly front, the BSE benchmark declined 270.07 points or 0.33% and the Nifty dipped 102.45 points or 0.41%. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the negative territory. Markets in Europe were trading higher. U.S. markets ended higher on Thursday (May 29, 2025). Foreign Institutional Investors (FIIs) bought equities worth Rs 884.03 crore on Thursday (May 29, 2025), while Domestic Institutional Investors (DIIs) bought equities worth Rs 4,286.50 crore, according to exchange data. Global oil benchmark Brent crude climbed 0.44% to $64.43 a barrel. The BSE Sensex climbed 320.70 points or 0.39%, to settle at 81,633.02 on Thursday (May 29, 2025). The 50-share Nifty went up by 81.15 points or 0.33% to 24,833.60.
India Today
a day ago
- Business
- India Today
Sensex closes 182 points lower, Nifty below 24,800; IT stocks drag markets
Benchmark stock market indices closed lower on Friday, ending the week on a weak note as information technology (IT) stocks dragged the markets down with major firms declining up to 2%. The S&P BSE Sensex was down by 182 points to end at 81,451.01, while the NSE Nifty50 lost 82.90 points to close at 24,750.70. Vinod Nair, Head of Research, Geojit Investments Limited, said that a range-bound movement continued in the market, with the temporary reinstatement of US tariffs by the appeal court influencing investors to stay The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. Meanwhile, FII inflows continued due to the volatility in the US 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI," he added.
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Business Standard
2 days ago
- Business
- Business Standard
Metal, IT, realty propel Sensex by 320 pts, Nifty above 24,830; SMIDs gain
Stock market closing bell, Thursday, may 29, 2025: Buying across the metal, IT, and realty sectors towards the end of the day helped the benchmarks, which witnessed a lackluster session earlier, settle on higher levels on Thursday. Market analysts suggest that the recovery in the market toward the end of the session was also fuelled by the F&O expiry-led covering. Notably, the BSE Sensex and NSE Nifty50, before turning flat, started today's session with gains, buoyed by the news that a three-judge panel at the New York-based US Court of International Trade blocked President Donald Trump from imposing 'sweeping' tariffs on imports, citing an emergency-powers law. That said, the rally extended to the broader markets as well, with the midcap and smallcap indices posting gains of over half a percent. At the close, the BSE Sensex stood at 81,633.02, up 320.70 points, or 0.39 per cent. The index fluctuated in the range of 81,816.89 - 81,106.98. Mirroring the Sensex, the Nifty50 added 81.15 points, or 0.33 per cent, to settle at 24,833.60, after trading in the range of 24,889.70 - 24,677.30 on Thursday. IndusInd Bank, Sun Pharma, Eternal, Adani Ports, and Trent were the top gainers among the Nifty50 constituent stocks ending higher in the range of 2.47 per cent-1.65 per cent. Conversely, HDFC Life, Bharat Electronics, Tata Consumer, Jio Financial, and Bajaj Finance were the top laggards ending lower in the range of 0.62 per cent - 1.07 per cent on Thursday. The market breadth turned positive, with 1,510 out of 2,947 traded stocks on the NSE ending in the green, while 1,373 closed lower and 64 remained unchanged. Meanwhile, a total of 106 stocks hit their upper circuit limits on the NSE, while 81 stocks touched their lower circuit limits. At the close, the market capitalisation of NSE-listed companies stood at $5.16 trillion. Meanwhile, the fear index (India VIX), which gauges volatility in the markets, ended lower by 8.86 per cent at 16.42 points. SMIDs shine The broader markets followed the benchmarks, with the Nifty Midcap100 and Nifty Smallcap100 indices settling higher by 0.55 per cent and 0.59 per cent, respectively. Welspun Corp (0.75 per cent), Waaree Energies (8.36 per cent), Garden Reach Shipbuilders (8.07 per cent), and Cummins India (6.52 per cent) were among the top gainers in the space. Metal, Realty outperform; FMCG, PSBs drag Barring Nifty FMCG (down 0.13 per cent) and Nifty PSU Bank (down 0.24 per cent), all the sectoral indices ended with gains on Thursday. Among them, Nifty Metal and Realty outperformed others by ending higher by 1.21 per cent and 1.14 per cent, respectively. This was followed by Nifty Pharma and IT indices, which settled with gains of 0.92 per cent and 0.77 per cent, respectively. Experts weigh in Global sentiment, Vinod Nair, head of research, Geojit Investments, said, improved after a US court struck down Trump's reciprocal tax policy. However, the domestic market remained mostly rangebound during the day due to rising oil prices and higher US 10-year bond yields. Nair attributed the recovery toward the end of the session to the F&O expiry-led covering. Echoing similar views, Prashanth Tapse, senior VP (Research), Mehta Equities, said, "While markets witnessed sideways movement in the first half, key indices rebounded on selective buying amid short covering on the monthly derivatives expiry day." Tapse believes that strong Asian and European cues also aided sentiment, even as investors await the release of the minutes of the US FOMC meeting. That said, Nair expects the markets to witness consolidation in the short term. "Lack of positive domestic triggers and a drop in industrial output to an eight-month low could lead to short-term market consolidation," Nair added. Technical View Technically, after an early intraday correction, the market found support near 24,675/81,100 and bounced back sharply. Additionally, on daily charts, it has formed a reversal formation near the 20-day Simple Moving Average (SMA), which Shrikant Chouhan, head of equity research at Kotak Securities, believes is largely positive. "We are of the view that 24,700/81,200 and 24,650/80,900 would act as key support zones for traders. If the market sustains above these levels, the chances of hitting 25,000/82,200–25,100/82,600 would become brighter," said Chouhan.
