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Street Signs: Fresh legs for Sensex relay, GIFT brokers eye global play

Street Signs: Fresh legs for Sensex relay, GIFT brokers eye global play

Trent and Bharat Electronics (BEL) are likely to be added, while IndusInd Bank and Nestle India may be dropped from the 30-stock index, said an analyst
Khushboo Tiwari Mumbai
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Fresh legs for Sensex relay: Trent, BEL near baton pass
The review period for the June rebalance of the BSE Sensex has ended, and changes are expected to be announced four weeks ahead of the June 20 effective date. According to Brian Freitas, an analyst at Periscope Analytics who publishes on Smartkarma, Trent and Bharat Electronics (BEL) are likely to be added, while IndusInd Bank and Nestlé India may be dropped from the 30-stock index. IndusInd also risks exclusion from the NSE Nifty 50 in September. Passive funds could buy shares worth ₹2,700 crore each in Trent and BEL, while

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Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Larsen & Toubro shares tomorrow
Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Larsen & Toubro shares tomorrow

Mint

timean hour ago

  • Mint

Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Larsen & Toubro shares tomorrow

Stock market today: The Indian stock market experienced a significant upswing on Friday, as benchmark indices finished notably higher, driven by widespread purchasing across various sectors and strong investor confidence. The Sensex rose by 1,046.30 points, closing at 82,408.17, while the Nifty 50 increased by 319.15 points, finishing the day at 25,112.40. Among the constituents of the Nifty 50, 44 stocks closed in positive territory, with only 6 in decline, highlighting the overall strength of the market. Dharmesh Shah, Vice President at ICICI Securities, said Nifty 50 looks poised for a breakout from five weeks of consolidation (25,200-24,500) that would open the door for 25,500 in coming weeks. Shah has recommended one stock to buy for short-term. Here's what he expects from Indian stock market next week, along with his stock recommendation. Equity benchmark gained ~1.5% and settled the session at 25,112, outpacing Midcap index (-0.5%), and also fared well against developed markets. Sectorally, rate sensitives regained momentum led by Financials, auto. Meanwhile, pharma underwent profit booking after announcement of possible tariff by US. The weekly price action formed a bull candle confined within last week's trading range, indicating prolonged consolidation. Over past five weeks Nifty 50 has been consolidating in 700 points range wherein it managed to defend the 24500 on multiple occasions despite escalated geopolitical issues. Further, index heavy weights regained upward momentum as RBI eased project financing norms that boosted market sentiment. We believe, Nifty 50 has formed a higher bottom above 50-day EMA (24,480) and looks poised for a breakout from five weeks of consolidation (25,200-24,500) that would open the door for 25,500 in coming weeks. Meanwhile, 24,500 would continue to as key support zone. In the process, bouts of volatility owing to geopolitical concern as well as monthly expiry week cannot be ruled out. Hence, any dip from hereon should be capitalised as incremental buying opportunity in a quality stock. Past four decades, six major geopolitical escalations suggest that index forms a major bottom once the anxiety around the geopolitical event settles down. And investing in such a panic like scenarios with a long-term mind set has been rewarding with double digit returns in subsequent three months. Hence, we advise dips should be capitalised to build quality portfolios from medium to long term perspective. The index is witnessing shallow retracement as over past five weeks it has merely corrected 3% of preceding six week's rally (15%), indicating robust price structure that has helped index to cool off overbought conditions and set the stage for next leg of up move. On the broader market front, The Nifty midcap index has taken a breather after 28% rally off April low and now approaching lower band of rising channel that coincided with 50 days EMA. In addition to that, since April low, Midcap index has not corrected >6% while on the weekly chart it has not closed below its previous week's low. In current scenario, despite ongoing volatility, midcap index has been maintaining the same rhythm. Thereby we expect index to find its feet around 50 days EMA and stage a gradual recovery 1. Development of geopolitical issues 2. Brent crude is hovering at immediate hurdle of $78. Lack of follow through strength would result into consolidation in 78-66 range 3. Further weakness in US Dollar index 4. Bilateral Trade Agreement between India and US Dharmesh Shah of ICICI Securities recommends buying Larsen & Toubro shares this week. Buy Larsen & Toubro shares (L&T) in the range of ₹ 3,420-3,660. He has L&T share price target of ₹ 3,928 with a stop loss of ₹ 3,264. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 20/06/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.

Sensex surges by 1,289.57 points during week
Sensex surges by 1,289.57 points during week

United News of India

time2 hours ago

  • United News of India

Sensex surges by 1,289.57 points during week

Mumbai, June 21 (UNI) BSE Sensex surged 1,289.57 points, or 1.58 per cent, to settle at 82,408.17 during the week ended Friday, June 20, tracking gains in Asian markets and renewed foreign fund inflow, amid easing crude oil prices, improved investor sentiments. Nifty jumped 393.8 points, or 1.59 per cent, to settle at 25,112.40. Broader markets underperformed. The BSE Mid-Cap index shed 0.44 per cent to close at 45,480.26. The BSE Small-Cap declined 1.85 percent to end at 52,378.52. On Monday, the Sensex snapped a two-day losing streak and ended with solid gains. Sensex gained 677.55 points to settle at 81,796.15. Nifty 50 jumped 227.90 points to 24,946.50. The domestic equity benchmarks slipped into the red on Tuesday, dragged down by rising tensions between Israel and Iran. Investor sentiment remained subdued ahead of the U.S. Federal Reserve's policy decision. BSE Sensex declined 212.85 points to 81,583.30. Nifty fell 93.10 points to 24,853.40. On Wednesday, marking their second straight day of losses, as rising geopolitical tensions between Israel and Iran weighed on investor sentiment, the Sensex declined 138.64 points to 81,444.66. Nifty too fell 41.35 points to 24,812.05. On Thursday, marking the third straight session of decline, as investor sentiment remained shaky due to escalating tensions between Israel and Iran, the Sensex shed 82.79 points to 81,361.87. Nifty fell 18.80 points to 24,793.25. On Friday, snapping a three-day losing streak in a row, as the market remained firm despite rising geopolitical tensions between Israel and Iran. Sensex jumped 1,046.30 points to 82,408.17. Nifty 50 rose by 319.15 points to 25,112.40. Sectoral gainer During the week, BSE Auto was 1.17 pc, BSE BANKEX was 1.35 pc, BSE Consumer Durables was 0.93 pc, BSE Capital Goods was 0.68 pc, and BSE IT was 0.88 pc. BSE Realty 0.65 pc and BSE TECK by 2.07 Sectoral losers during the week were BSE Oil & Gas by 0.4, BSE FMCG by 0.21 pc, BSE Healthcare by 2.08 pc, BSE METAL by 1.12 pc and BSE Power by 0.19 pc. Stocks that fell during the week were Nestle India by 0.49 pc. Tamilnad Mercantile Bank by 2.83 pc, Tata Consultancy Services (TCS) by 0.36 pc, AAVAS Financiers by 1.58 pc, Tata Motors by 5.04 pc, SpiceJet by 8.60 pc, Sun TV Network by 2.16 pc and Alembic Pharmaceuticals by 2.92 pc. Godrej Properties rose 0.76 pc. The company announced that it has acquired an approximately 16-acre land parcel in Upper Kharadi, Pune. The project will have a developable potential of 2.5 million square feet with an estimated revenue potential of about Rs 3,100 crore. DLF rose 0.30 pc. The company said that its latest luxury offering, DLF Privana North, valued at approximately Rs 11,000 crore, has been sold within one week of its launch. UNI JS ARN

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