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Economic Times
4 days ago
- Business
- Economic Times
Will Indian market rebound after six consecutive weeks of decline?
Mumbai: India's key equity indices dropped nearly 1% on Friday, logging their sixth consecutive week of losses-the longest such streak in five years-as anxiety over the economic fallout of US President Donald Trump's tariff blitz on the country kept the markets on the edge. Analysts do not see the bear grip easing soon with technical indicators flashing further weakness although they're on the brink of being oversold. ADVERTISEMENT "Given the weaker sentiment right now, selling pressure is likely to persist," said Rajesh Palviya, head of technical and derivatives research at Axis Securities. The NSE Nifty fell 232.85 points, or 0.95%, to close at 24,363.3. The BSE Sensex declined 765.47 points, or 0.95%, to end at 79,857.79. Their weekly fall of 0.8-0.9% for the sixth straight week is the longest since April 2020. The Sensex closed below 80,000 for the first time since May 9. Since June 27-when the recent bout of weakness started-both indices have shed around 5%, while the BSE's market value has eroded ₹16.3 lakh crore. "While another week of decline could push the market into oversold territory, any rebound is likely to be a technical pullback rather than a trend reversal until there is more clarity around tariff talks," said Palviya. Foreign portfolio investors net bought shares worth ₹1,933 crore, taking their sales tally for August to nearly ₹11,300 crore amid the weakening rupee. Domestic institutions were buyers of ₹7,724 crore. ADVERTISEMENT Fear Gauge Up 3% Elsewhere in Asia, Japan gained 1.9%, while China declined 0.1%, Hong Kong fell 0.9%, South Korea declined 0.5% and Taiwan remained flat. The pan-Europe index Stoxx 600 rose 0.19%. ADVERTISEMENT The Nifty's Volatility Index or VIX-known as the fear gauge of the market-advanced 3% to 12.03 levels on Friday, indicating greater nervousness among market participants "We expect market volatility and investor nervousness to continue until more clarity emerges from ongoing trade negotiations," said Kuunal Shah, portfolio manager at Carnelian Asset Management & Advisors. ADVERTISEMENT
Time of India
4 days ago
- Business
- Time of India
Will Indian market rebound after six consecutive weeks of decline?
Live Events Agencies (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: India's key equity indices dropped nearly 1% on Friday, logging their sixth consecutive week of losses-the longest such streak in five years-as anxiety over the economic fallout of US President Donald Trump's tariff blitz on the country kept the markets on the edge. Analysts do not see the bear grip easing soon with technical indicators flashing further weakness although they're on the brink of being oversold."Given the weaker sentiment right now, selling pressure is likely to persist," said Rajesh Palviya, head of technical and derivatives research at Axis NSE Nifty fell 232.85 points, or 0.95%, to close at 24,363.3. The BSE Sensex declined 765.47 points, or 0.95%, to end at 79,857.79. Their weekly fall of 0.8-0.9% for the sixth straight week is the longest since April 2020. The Sensex closed below 80,000 for the first time since May June 27-when the recent bout of weakness started-both indices have shed around 5%, while the BSE's market value has eroded ₹16.3 lakh crore."While another week of decline could push the market into oversold territory, any rebound is likely to be a technical pullback rather than a trend reversal until there is more clarity around tariff talks ," said Palviya. Foreign portfolio investors net bought shares worth ₹1,933 crore, taking their sales tally for August to nearly ₹11,300 crore amid the weakening rupee. Domestic institutions were buyers of ₹7,724 in Asia, Japan gained 1.9%, while China declined 0.1%, Hong Kong fell 0.9%, South Korea declined 0.5% and Taiwan remained flat. The pan-Europe index Stoxx 600 rose 0.19%.The Nifty's Volatility Index or VIX-known as the fear gauge of the market-advanced 3% to 12.03 levels on Friday, indicating greater nervousness among market participants"We expect market volatility and investor nervousness to continue until more clarity emerges from ongoing trade negotiations," said Kuunal Shah, portfolio manager at Carnelian Asset Management & Advisors.
Time of India
24-06-2025
- Business
- Time of India
Stocks Feel the West Asia Heat, But Don't Boil Over
Indian equities retreated Monday after the US risked its own billion-dollar-plus military assets to pound subsurface Iranian nuclear sites over the weekend, but the broadest gauges erased initial losses to end about half a percent lower following modest gains in crude oil prices . 'Markets will closely watch for further escalation in West Asia that could affect oil supply and pricing,' said Nilesh Shah, MD, Kotak Mahindra AMC. 'It will be fair to assume the risk aversion will rise with escalation and will have an adverse impact on markets.' The Sensex shed 511.36 points, or 0.6%, at 81,896, while the Nifty declined 140.50 points, or 0.5%, to settle at 24,670. Technology bellwethers Infosys, HCL Technologies and TCS, which together account for the second biggest Nifty weighting, fell 1-3% and led the decliners. The technology pack drifted after the revenue guidance by Accenture, the world's largest services company by market value, fell short of market expectations. Rupee, Hedging Costs Hold Steady9 Both indices, which fell as much as 1% earlier in the day, erased a portion of the losses on expectations that the Iranian response to the US strikes would not be severe. Tehran's threat that it would block the Strait of Hormuz —a critical route for the global oil trade—has raised both the geopolitical risk quotient and investor caution for emerging markets susceptible to fuel price fluctuations. The measured advance in oil prices on Monday reflected market expectations of a restrained reaction by Iran to the US attacks. Brent crude futures rose 0.8% to $77.60 a barrel after opening above $80. Bonds—from US Treasuries to European securities—weakened on concerns higher oil prices could raise inflationary pressures. Gold futures advanced 0.2% at $3,393.40 per ounce in New York. 'Recent events suggest the US and Israel have established airspace dominance and inflicted significant damage on Iran's ability to counter-attack,' said Mihir Vora, CIO, Trust AMC. 'As a result, it may not be easy to disrupt the sea-traffic movement in the Gulf.' Vora said as long as oil stays within the $65-86 range, India can manage the volatility. 'Only if it spikes to extreme levels—like $100-120—can oil create problems,' he said. Elsewhere in Asia, most markets ended weak. Japan fell 0.1%, South Korea declined 0.2%, Indonesia dipped 1.7% and Taiwan dropped 1.4%. China and Hong Kong rose 0.7% each. The pan-Europe index Stoxx 600 closed 0.28% lower. The pan-Europe index Stoxx 600 was down 0.26% when this report was going into publication. At home, the Nifty Midcap 150 index rose 0.4%, while the Nifty Smallcap 250 advanced 0.8%. Of the total 4,240 stocks traded on the BSE, 2,198 declined and 1,862 advanced. The India VIX—the market's fear gauge—rose 2.74% to 14.05, indicating elevated nervousness among traders.
Time of India
24-06-2025
- Business
- Time of India
Equities decline amid US-Iran tensions and rising oil prices
Mumbai: Indian equities retreated Monday after the US risked its own billion-dollar-plus military assets to pound subsurface Iranian nuclear sites over the weekend, but the broadest gauges erased initial losses to end about half a percent lower following modest gains in crude oil prices. "Markets will closely watch for further escalation in West Asia that could affect oil supply and pricing," said Nilesh Shah, MD, Kotak Mahindra AMC. "It will be fair to assume the risk aversion will rise with escalation and will have an adverse impact on markets." The Sensex shed 511.36 points, or 0.6%, at 81,896, while the Nifty declined 140.50 points, or 0.5%, to settle at 24,670. Technology bellwethers Infosys , HCL Technologies and TCS , which together account for the second biggest Nifty weighting, fell 1-3% and led the decliners. The technology pack drifted after the revenue guidance by Accenture, the world's largest services company by market value, fell short of market expectations. Agencies VIX Rises 2.7% Both indices, which fell as much as 1% earlier in the day, erased a portion of the losses on expectations that the Iranian response to the US strikes would not be severe. Tehran's threat that it would block the Strait of Hormuz -a critical route for the global oil trade-has raised both the geopolitical risk quotient and investor caution for emerging markets susceptible to fuel price fluctuations. The measured advance in oil prices on Monday reflected market expectations of a restrained reaction by Iran to the US attacks. Brent crude futures rose 0.8% to $77.60 a barrel after opening above $80. Bonds-from US Treasuries to European securities-weakened on concerns higher oil prices could raise inflationary pressures. Gold futures advanced 0.2% at $3,393.40 per ounce in New York. "Recent events suggest the US and Israel have established airspace dominance and inflicted significant damage on Iran's ability to counter-attack," said Mihir Vora, CIO, Trust AMC. "As a result, it may not be easy to disrupt the sea-traffic movement in the Gulf." 'No Oil Shock Yet' Vora said as long as oil stays within the $65-86 range, India can manage the volatility. "Only if it spikes to extreme levels-like $100-120-can oil create problems," he said. Elsewhere in Asia, most markets ended weak. Japan fell 0.1%, South Korea declined 0.2%, Indonesia dipped 1.7% and Taiwan dropped 1.4%. China and Hong Kong rose 0.7% each. The pan-Europe index Stoxx 600 closed 0.28% lower. The pan-Europe index Stoxx 600 was down 0.26% when this report was going into publication. At home, the Nifty Midcap 150 index rose 0.4%, while the Nifty Smallcap 250 advanced 0.8%. Of the total 4,240 stocks traded on the BSE, 2,198 declined and 1,862 advanced. The India VIX-the market's fear gauge-rose 2.74% to 14.05, indicating elevated nervousness among traders.
Time of India
13-06-2025
- Business
- Time of India
Indices decline 1% amid rising crude prices and geopolitical tensions
Indian equity markets experienced a 1% decline on Thursday, triggered by escalating tensions in West Asia and the subsequent surge in crude oil prices. Geopolitical uncertainty, coupled with a plane crash, dampened investor sentiment, leading to significant selling pressure from foreign portfolio investors. While domestic institutions provided some support, broader market indices reflected the prevailing caution. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: India's equity indices shed 1% on Thursday as a flare-up in tensions in West Asia and a resultant rebound in crude prices soured investor US on Wednesday withdrew personnel from West Asia, citing heightened security risks in the region, which resulted in Brent crude futures rising by 4% before they pulled back on Thursday. According to news reports, Israel is preparing to mount an attack on Iran, a move that is seen as destabilising the Middle Sensex fell 823 points to close at 81,692. The Nifty declined 253 points to end at 24,888."The market was already weak in the morning today because of the geopolitical tensions, but the sharper sell-off happened after the unfortunate plane crash in the afternoon. Though there is no direct correlation, that had an impact on sentiment," said Siddarth Bhamre, head of institutional research at Asit C Mehta Investment Intermediates. Foreign portfolio investors continued to sell, dumping shares worth ₹3,831 crore on Thursday. Domestic institutions were buyers of ₹9,394 crore. The flows from local institutions included the purchase of Asian Paints in the block deal that was transacted on in Asia, China ended almost flat, Hong Kong fell 1.4% and Taiwan dropped 0.8%. South Korea rose 0.5%. The pan-Europe index Stoxx 600 was down 0.6% at the time of going to home, NSE's Volatility Index, or VIX, firmed up 2.5% to 14, reflecting the caution in the market. The next major support for the Nifty is at 24,700, while 25,000 could be a hurdle for the Midcap 150 dropped 1.5% and Nifty Small-cap 250 fell 1.4%. Of the 4,151 shares traded on BSE, 2,780 declined, while 1,226 advanced."There is a fair bit of rotation happening between small-cap, mid-cap and large-caps as investors are looking to churn at every opportunity available," said Jani, director, Finazenn - an investment advisory, does not see this as a start of a trend reversal."Broadly, there are no major downside risks in the market unless geopolitical risks escalate," he said.
