Latest news with #AjitMishra
The Print
5 hours ago
- Business
- The Print
Markets snap 3-day losing run; Sensex jumps 1,000 pts as financial, telecom shares gain
The 50-share NSE Nifty climbed 319.15 points or 1.29 per cent to 25,112.40. A largely supportive trend overseas and renewed foreign capital inflows supported domestic equities following signs of easing tension in the Middle East, traders said. After a flat start, the BSE Sensex later found its mojo back and surged 1,046.30 points or 1.29 per cent to settle at 82,408.17. During the day, it jumped 1,132.62 points or 1.39 per cent to 82,494.49. Mumbai, Jun 20 (PTI) Equity benchmark indices Sensex and Nifty rebounded sharply by over 1 per cent on Friday after sliding for the past three sessions, propelled by bargain hunting in financial, telecom and tech stocks amid a correction in global crude prices. As many as 2,463 stocks advanced while 1,484 declined and 147 remained unchanged on the BSE. This week, the BSE benchmark gauge jumped 1,289.57 points or 1.58 per cent, and the Nifty surged 393.8 points or .59 per cent. 'Equity indices surged as Middle East tension moderated with risk of immediate military actions reduced as US dialogue with Iran is expected to take place. The development led the crude price to correct, favouring domestic markets and boosting foreign investors' sentiments. 'In the broader market, rapid fall in VIX index and buying was witnessed in rate sensitives and consumer-oriented sectors like Finance, Auto and Reality and in anticipation of better Q1FY26 results led by rate cuts benefits, drop in inflationary pressure and rebound in consumer spending,' Vinod Nair, Head of Research, Geojit Investments Limited, said. From the Sensex firms, Bharti Airtel, Nestle, Mahindra & Mahindra, Power Grid, Reliance Industries, NTPC, Eternal and HDFC Bank were among the biggest gainers. In contrast, Maruti was the only laggard. The BSE midcap gauge jumped 1.20 per cent, and smallcap index climbed 0.55 per cent. All BSE sectoral indices ended higher. Telecommunication surged 2.73 per cent, realty (2.22 per cent), teck (1.42 per cent), capital goods (1.17 per cent), bankex (1.15 per cent), consumer discretionary (1.12 per cent) and metal (1.10 per cent). 'Sentiment improved after the news report indicated a possible de-escalation in the Iran-Israel conflict, with the US signalling a delay in potential action, which led to a softening in crude oil prices. Additionally, consistent buying by FIIs in the cash segment further supported the market,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. In Asian markets, South Korea's Kospi and Hong Kong's Hang Seng settled in positive territory, while Japan's Nikkei 225 index and Shanghai's SSE Composite index ended lower. Markets in Europe were trading higher in mid-session trade. US markets were closed on Thursday for the Juneteenth holiday. Global oil benchmark Brent crude dropped 1.93 per cent to USD 77.33 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 934.62 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 605.97 crore. On Thursday, the 30-share BSE Sensex declined 82.79 points, or 0.10 per cent, to settle at 81,361.87. The Nifty dipped 18.80 points or 0.08 per cent to 24,793.25. 'In the absence of any major domestic events, global markets will continue to guide sentiment. We maintain our positive yet cautious stance and advise focusing on stock selection, particularly in line with sectoral trends,' Mishra said. PTI SUM SUM BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Indian Express
9 hours ago
- Business
- Indian Express
Sensex jumps 1.3%, Nifty ends above 25,100
Domestic benchmark indices Sensex and Nifty surged 1.3 per cent on Friday as investors' risk appetite improved after reports suggested de-escalation in Israel-Iran conflict. The BSE's Sensex rose 1.29 per cent, or 1,046.3 points, to close at 82,408.17. The broader Nifty climbed 1.29 per cent, or 319.15 points, to end at 25,112.4. 'Markets showed strength and gained over a percent after three sessions of lackluster movement. Sentiment improved after the news report indicated a possible de-escalation in the Iran-Israel conflict, with the US signaling a delay in potential action, which led to a softening in crude oil prices,' the said Ajit Mishra, Senior Vice President, Research, Religare Broking Ltd. US President Donald Trump has said that a decision on whether or not the US will get directly involved in the Iran-Israel conflict within two weeks, according to media reports. Markets witnessed consolidation after the recent spell of subdued trend, as strong European cues and positive Dow Futures triggered a massive rally in local benchmarks. 'Investors also resorted to short covering ahead of next week's monthly derivatives expiry. Despite the rebound, investors would still maintain caution due to the ongoing West Asia conflict, as any spike in crude oil prices owing to escalation in tension could fuel uncertainty and spook markets,' said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. Additionally, consistent buying by FIIs in the cash segment further supported the market. All key sectors participated in the rally, with realty, financials, and metals emerging as top gainers. The broader indices also saw relief, posting gains in the range of 1-1.4 per cent. The Nifty Realty ended 2.11 per cent up and the Nifty Metal climbed 1.09 per cent. The Nifty Midcap 100 rose 1.46 per cent and the Nifty Smallcap 100 gained 1.01 per cent. India VIX, which is an indicator of the market's expectation of volatility over the near term, declined 4.08 per cent to 13.67. The NSE companies that gained the most included Trent (3.96 per cent), Jio Financial Services (3.31 per cent), Mahindra & Mahindra (3.07 per cent), Bharti Airtel ( 3.04 per cent) and Nestle India (2.77 per cent). According to Religare Broking's Mishra, the outlook remains positive, and a decisive move above 25,200 on the Nifty would signal the end of the ongoing five-week consolidation phase and open the path toward the 25,600–25,800 zone. In the absence of any major domestic events, global markets will continue to guide sentiment. 'We maintain our positive yet cautious stance and advise focusing on stock selection, particularly in line with sectoral trends,' he said.
Mint
20 hours ago
- Business
- Mint
Indian stock market: 8 key things that changed for market overnight- Gift Nifty, Israel-Iran war to China interest rates
Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to see a muted opening on Friday, amid mixed cues from global markets. Asian markets traded mostly higher, while the US stock market was closed, and US stock futures dropped on cautiousness over the escalating Israel-Iran war. On Thursday, the Indian stock market ended with minor losses, with the benchmark Nifty 50 slipping below 24,800 level. The Sensex fell 82.79 points, or 0.10%, to close at 81,361.87, while the Nifty 50 settled 18.80 points, or 0.08%, lower at 24,793.25. 'The strength in the benchmark index does not reflect the underlying market tone, as we are witnessing gradual profit booking across sectors and in the broader market. With geopolitical tensions driving crude prices higher, further deterioration is likely if crude makes a sustained move above the $80 mark. We reiterate our cautious view and advise closely monitoring positions until we see further clarity,' said Ajit Mishra – SVP, Research, Religare Broking Ltd. Here are key global market cues for Sensex today: Asian markets traded mostly higher on Friday after China data and as investors assessed escalating Israel-Iran tensions. Japan's Nikkei 225 rose 0.13%, while the Topix index was flat. South Korea's Kospi index gained 0.51%, while the Kosdaq rose 0.41%. Hong Kong's Hang Seng index futures indicated a weaker open. Gift Nifty was trading around 24,793 level, a discount of nearly 10 points from the Nifty futures' previous close, indicating a muted start for the Indian stock market indices. US stock market was closed on Thursday for the Juneteenth holiday. However, US stock futures traded lower ahead of Friday's session. Dow Jones Industrial Average futures fell 154 points, or 0.3%, Nasdaq 100 futures declined 0.2%, while S&P 500 futures fell 0.2%. US President Donald Trump will decide in the next two weeks whether the US will get involved in the Israel-Iran air war, the White House said. Meanwhile, the Middle East conflict intensified as Israel bombed Iran's nuclear sites, while Iran fired missile and drone strikes on Israel, including an overnight attack on an Israeli hospital. China's central bank kept its benchmark interest rates unchanged Friday. The People's Bank of China held the 1-year loan prime rate at 3.0% and 5-year LPR at 3.5%. Last month, China lowered LPRs for the first time since October. Japan's core inflation rate accelerated to 3.7% in May. The data, which excludes volatile fresh food prices, was up from a 3.5% year-on-year (YoY) rise logged in April. Crude oil prices fell, but were on track to rise for the third straight week amid Israel-Iran conflict. Brent crude futures fell 1.89% to $77.36 a barrel. On a weekly basis, it was up 3.9%. The US West Texas Intermediate crude for July was up 1.14% to $76.00. The more liquid WTI for August rose 0.7% to $74. Gold prices were steady, with geopolitical tensions escalating in the Middle East, while investors remained wary of possible US involvement. Spot gold price was flat at $3,367.60 an ounce. Bullion was down 1.9% so far this week. US gold futures were stable at $3,384.20. (With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
New Indian Express
a day ago
- Business
- New Indian Express
Small-cap and midcap bleeds as investors loses Rs 4 lakh crore
NEW DELHI: India's equity markets, particularly midcap and smallcap stocks, faced intense selling pressure as investors turned cautious amid hawkish signals from the US Federal Reserve and escalating tensions between Iran and Israel. While the benchmark indices—BSE Sensex and NSE Nifty—ended marginally lower for the third consecutive session on Thursday, the midcap and smallcap segments bore the brunt of the selloff, plunging up to 2%. The Nifty Smallcap 100 tumbled 1.99%, while the Nifty Midcap 100 dropped 1.63%. The sharp decline in the broader market wiped out nearly Rs 4 lakh crore of investor wealth, dragging the total market capitalisation of BSE-listed firms down to Rs 442.5 lakh crore from Rs 446.3 lakh crore in the previous session. "Broader market sentiment remained risk-averse, as mid- and small-cap segments witnessed pronounced profit-booking. The Nifty Midcap 100 and Nifty Smallcap 100 declined over 1.5% apiece, reflecting a flight to safety as market participants rotated capital into large-cap, defensively positioned blue-chip counters," said analysts at Bajaj Broking. The brokerage added that the persistent downtrend was underscored by escalating geopolitical tensions in the Middle East, adding to investor caution. As Israel and Iran continue to trade blows, there has been a steady rise in oil prices. On the global front, the US Federal Reserve, in its latest FOMC policy outcome, kept the federal funds rate steady at 4.25%–4.50%, in line with market expectations. The Fed also reiterated the risks arising from the trade war triggered by President Donald Trump's tariff policies. Ajit Mishra – SVP, Research, Religare Broking said that the strength in the benchmark index does not reflect the underlying market tone, as we are witnessing gradual profit booking across sectors and in the broader market. "With geopolitical tensions driving crude prices higher, further deterioration is likely if crude makes a sustained move above the $80 mark. We reiterate our cautious view and advise closely monitoring positions until we see further clarity," added Mishra. Sectorally, Nifty PSU Bank, Nifty Metal, and Nifty Media indices correcting sharply on Thursday, each shedding up to 2%. Among Nifty50 stocks, Adani Ports fell 2.52% while Bajaj Finance and Adani Enterprises were among other top laggards.
Hans India
2 days ago
- Business
- Hans India
Soaring Middle East tensions drag markets for 2nd session
Mumbai: Benchmark indices Sensex and Nifty closed lower on Wednesday as soaring tensions in the Middle East and caution ahead of the US Fed interest rate decision hit investor sentiment. Surrendering its early gains, the 30-share BSE Sensex declined by 138.64 points or 0.17 per cent to close at 81,444.66. After a weak opening, the index hit a high of 81,858.97 in morning deals but failed to hold onto gains later. The barometer dipped 346.29 points or 0.42 per cent to hit a low of 81,237.01. The 50-share NSE Nifty edged lower by 41.35 points or 0.17 per cent to settle at 24,812.05, marking its second day of losses. Among Sensex firms, Tata Consultancy Services was the biggest loser dropping by 1.79 per cent. Adani Ports fell by 1.55 per cent, Hindustan Unilever by 1.35 per cent, Bajaj Finserv by 1.16 per cent, and Nestle by 0.95 per cent. Losses in ICICI Bank, Larsen & Toubro, Infosys, NTPC and HCL Tech also dragged the index down. On the other hand, IndusInd Bank surged by 5.12 per cent after a report expressed optimism over its performance in the coming 12 months. Titan rose by 1.99 per cent, Mahindra & Mahindra by 1.24 per cent and Maruti by 1.12 per cent. 'The domestic market failed to maintain the opening gains as the continuing tensions in the Middle East & volatility in oil prices dragged the overall sentiment. However, auto and consumer discretionary gained in expectations of a demand revival,' Vinod Nair, Head of Research, Geojit Investments Limited, said. Israeli warplanes pounded Iran's capital overnight and into Wednesday as Iran launched a small barrage of missiles at Israel with no reports of casualties. Ajit Mishra – SVP, Research, Religare Broking Ltd said that the Nifty edged higher initially but failed to sustain the momentum, primarily due to pressure from heavyweight stocks. 'Markets will react to the outcome of the US Fed policy meeting during early trades on Thursday. While most expect no change in interest rates, the Fed's commentary—especially in light of the prevailing global uncertainty caused by geopolitical tensions and trade tariff concerns—will be more crucial,' Mishra said. The BSE midcap and smallcap indices ended 0.34 per cent lower each. Among BSE sectoral indices, IT dropped 0.76 per cent, BSE Focused IT declined 0.75 per cent, utilities (0.75 per cent), power (0.67 per cent), commodities (0.66 per cent) and metal (0.65 per cent). However, consumer durables index climbed 0.75 per cent, consumer discretionary (0.38 per cent), auto (0.37 per cent) and bankex (0.03 per cent). As many as 2,447 stocks declined while 1,531 advanced and 137 remained unchanged on the BSE.
