Street Signs: Global cues to guide markets, Sebi's NSEL broker scheme

Despite volatility in secondary markets, investors embraced two recent initial public offerings (IPOs).
Sundar Sethuraman Khushboo Tiwari Mumbai
Listen to This Article
Global currents tug at India's market rudder
The benchmark Nifty dropped 0.7 per cent last week after gaining 4.2 per cent the previous week. Investors remained uneasy as the House of Representatives narrowly approved US President Donald Trump's tax Bill. Long-dated US bond yields climbed amid mounting US debt concerns, prompting foreign portfolio investors (FPIs) to sell heavily in India. Rising yields make US bonds more attractive, leading FPIs to take money off the table from emerging markets, including India. According to provisional exchange data, FPIs offloaded nearly ₹11,590 crore last week. With the earnings season winding down, global cues

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Economic Times

an hour ago

• Economic Times

Israel-Iran war, HDB Financial IPO among 9 factors that can move D-Street this week

Indian benchmark indices ended with weekly gains of 1.6% ending their three-sessions losing streak, thanks to the Friday surge. A host of important domestic and global events lined-up during the week are likely to impact stock markets when they resume trading on Monday. ADVERTISEMENT On Friday, Nifty jumped 319.15 points or 1.3% to end the day at 25,112.40. Commenting on the action, Devarsh Vakil - Head of Prime Research at HDFC Securities said that Nifty finally witnessed an excellent breakout by closing above 25,000 levels. While the short term trend remains positive, immediate resistance is now placed at 25,222 levels while the support has shifted upwards at 24,900 levels, Vakil said. Factors that are likely to impact movement when markets reopen this week:Israel's war on Iran has entered its second week with US striking Iranian nuclear sites and directly joining Israel 's war. The targeted locations reportedly include the highly fortified Fordow, Natanz, and Esfahan nuclear facilities. Meanwhile, Iran has vowed retaliation and the United States has begun evacuation flights from Israel. U.S. stocks ended lackluster on Friday notwithstanding better-than-expected Accenture revenue estimates for the third quarter. But the Israel-Iran conflict weighed on Wall Street as investors remained cautious over the developments regarding the Israel-Iran conflict. ADVERTISEMENT Indian markets will also take cues from Wall Street which ended with sharp gains on Friday. Dow 30 closed at 42,206.80, rising by 35.16 points or 0.08% while the S&P 500 finished 13.03 points or 0.22% lower at 5,967.84. Nasdaq Composite closed at 19,447.40, down 98.86 points or 0.51%. The anticipation for an action-packed week for the primary market is getting stronger with 13 IPOs on the anvil. They are expected to collectively raise nearly Rs 16,000 crore. In this, five mainboard IPOs will be launched with HDFC Bank's NBFC subsidiary HDB Financial Services IPO hitting the D-Street. In the SME segment eight companies will vie for investor attention and not to mention numerous listings. ADVERTISEMENT Read More: IPO Tsunami: HDB Financial Services, 12 others to raise up to Rs 16,000 crore next weekThe BSE Sensex is set for a reshuffle next week, with Tata Group's Trent and Bharat Electronics (BEL) entering the benchmark 30-share index, replacing Nestle India and IndusInd Bank. The changes, announced earlier, will take effect from Monday, June 23, while passive fund flows linked to the rejig are expected on June 20. ADVERTISEMENT IndusInd Bank, which has faced scrutiny over governance concerns in recent months, will also be excluded. The lender may see outflows of $145 million, equivalent to about 1.9 times its ADV. Plenty of corporate action is lined-up this week with record dates for dividends, stock splits, rights issue and bonus shares over the five-day trading week. Nearly four dozen companies will see the action unfold. ADVERTISEMENT Among the widely tracked stocks that will be in focus will be HDFC Bank, Vedanta, Hindustan Unilever (HUL), Polycab, Samvardhana Motherson International, Automobile Corporation of Goa, Bajaj Finserv, Bajaj Holdings & Investment and Cipla. Read Full Story: Corporate actions next week: Record dates for HDFC Bank, HUL, Vedanta dividend. Check bonus issue, stock split details Market actions will rely on how foreign institutional investors (FIIs) behave. On Friday, FIIs bought shares worth Rs 7,940.70 crore while the domestic institutional investors (DIIs) were net sellers at Rs 3,049.88 remaining net buyers in April and May, FIIs so far have been net sellers of Indian equities in June at Rs 4,192 crore. Also Read: FIIs buy stocks worth Rs 8,710 crore this week, narrow June sell-off to Rs 4,192 crore Nifty formed a sizable bull candle with a higher high and higher low signaling resumption of up move after recent corrective consolidation and the index in the process closed firmly above the 25,000 levels signalling strength, a note by Bajaj Broking said. It anticipates the index to retest the upper boundary of the recent five-week consolidation zone, currently pegged near the 25,200 mark. 'A decisive breakout above this resistance band could open the door for an upward extension towards the 25,500 zone in the near term. As long as the index sustains above the prior week's swing low of 24,700, the near-term bias is expected to remain constructive. Key short-term support is placed at 24,500–24,400 zone being the confluence of the 50-day EMA and the lower band of the last five weeks consolidation range,' the brokerage Indian rupee modestly strengthened Friday, its first advance in six days tracking inflows into domestic equities, to close at 86.58 per dollar. The rupee climbed 14 paise despite volatile oil prices and no immediate signs of a truce in the Israel-Iran strength in the rupee came after US President Donald Trump signalled to avoid any precipitate action on Iran. Rebalancing of the FTSE Russell index also led to some flows, traders said. The rupee traded between 86.54 and 86.67 to the dollar on oil prices remain critical for the stock markets as they have the potential to alter the inflation dynamics in a country. They have jumped nearly 10% over the past month and with the deepening crisis, the fears of price escalation are US WTI oil contracts ended at $74.04, up by $0.54 or 0.73% while Brent oil futures were hovering near $77.01, higher by $1.53 or 1.94%. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Mint

an 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.

United News of India

2 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