Latest news with #FTSE
Mint
27 minutes ago
- Business
- Mint
Friday fortune: Nifty, Sensex end 3-day slide but caution lingers
India's benchmark equity indices snapped a three-day losing streak to end more than 1% higher on Friday, lifted by short-covering ahead of next week's monthly derivatives expiry and US president Donald Trump deferring his decision to join Israel's attack on Iran. Adding to the new market momentum were two significant semi-annual index rebalances: the Sensex and London's FTSE, according to Abhilash Pagaria, head of Nuvama Alternative & Quantitative Research. Siemens Energy is set to be dropped from the MSCI Global Standard Index, which could spark an estimated $210 million outflow. Since it's also part of the Nifty 50, an additional $50 million in outflows is anticipated from that front. In contrast, Tata Group fashion retailer Trent Ltd and state-run Bharat Electronics Ltd are set to replace Nestle and IndusInd Bank on the Sensex, potentially drawing in fresh investments. Meanwhile, the FTSE reshuffle is expected to bring in around $150 million into India, primarily due to the inclusion of Vishal Mega Mart. 'The market is like a person whose average temperature is fine as one leg is in cold water and the other leg is in boiling water,' said Nilesh Shah, managing director of Kotak Mahindra AMC. He said that stable domestic macros are currently outweighing geopolitical uncertainty. And, since the valuation of Indian equities is unlikely to be rated further up from here, Shah believes investor returns will come from earnings growth moving ahead. On Friday, both Nifty 50 and S&P BSE Sensex closed 1.3% higher at 25,112.40 and82,408.17points, respectively. Gains in Nifty 50 were led by a surge in heavyweight stocks such as HDFC Bank, Reliance Industries, Bharti Airtel, and ICICI Bank. The Nifty 50 finally broke past the 25,000-mark on Friday, a level that had acted as a key resistance. With the index closing firmly above it, Kkunal Parar, vice-president at Choice Equity Broking, sees room for further gains, possibly up to 25,300 points. 'If momentum holds and the index surpasses that level', he believes Indian equities could be on track for a fresh high. Meanwhile, Nifty Smallcap 250 ended the day 0.6% higher and Nifty Midcap 100 surged 1.5%. A 2 June report from Morgan Stanley highlights the resilience of Indian markets, noting that 'market wants to go up, not down.' Since September 2024, the market has absorbed a wave of negative developments—from stretched valuations in small- and mid-caps and a broad-based correction, to concerns over slowing macro growth and earnings, US tariff-related volatility, and even a major terrorist attack followed by India's response. Yet, large-cap indices remain just about 5% below all-time highs, 'and almost negligible changes in implied volumes,' the report said. Israel and Iran continue to exchange fire after Israel launched strikes on Iran's military and nuclear sites on 13 June, drawing a retaliation from the Islamic nation and ratcheting up geopolitical tensions. Both Israel and the US want Iran to abandon its nuclear programme, and Trump has deferred his decision on attacking Iran by two weeks, opening a potential negotiating window. Foreign institutional investors (FIIs) were net buyers on Friday, picking up ₹ 7,940.70 crore, while domestic institutional investors (DIIs) booked profits with net sales of ₹ 3,049.88 crore, according to BSE provisional data. Over the past week, both FIIs and DIIs emerged as net buyers, with inflows of ₹ 1,209.57 crore and ₹ 18,726.90 crore, respectively, according to NSDL data. Overall cash levels of the mutual fund industry remain elevated, particularly concentrated within three asset management companies (AMCs), as per an Elara Capital report dated 17 June. 'It is important to understand that this is not a short-term tactical move but a strategic positioning reflecting caution on current market valuations—especially in the Mid and Smallcap segments.' The report highlighted that almost 25% of the total cash in the system is held by only 4 schemes and 50% by 18 schemes. And most of these schemes have maintained elevated cash level for more than a year. Rather than channeling funds into the secondary market, fund managers are increasingly turning to the primary market, where issuance activity has seen a notable resurgence since May 2025, the report pointed out. Still, some amount of caution continues to linger among investors, considering the ongoing conflict in West Asia. market experts said. A flare-up in tensions could drive up crude oil prices and heighten volatility, quickly souring the overall investor sentiment.
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Business Standard
2 hours ago
- Business
- Business Standard
Sensex, Nifty gain 1.3% on RBI norms, Trump's pause on Iran strike
Domestic markets rose on Friday, propelled by gains in banking and other heavyweights, after the relaxation of project finance regulations. US President Donald Trump's announcement that he would take two weeks to decide whether to intervene directly in the Iran–Israel conflict provided some relief to investors. The benchmark Sensex closed at 82,408 on Friday, up 1,046 points or 1.3 per cent. The Nifty also ended the session at 25,112, gaining 319 points or 1.3 per cent. HDFC Bank, Reliance Industries, Bharti Airtel and ICICI Bank accounted for over half of the index gains. Both the Sensex and the Nifty rose 1.6 per cent over the week. The total market capitalisation of BSE-listed companies increased by ₹5 trillion, reaching ₹448 trillion. The final project finance norms will take effect from October 1, 2025. The Nifty Bank index increased by 1.2 per cent. Foreign portfolio investors (FPIs) were buyers to the tune of nearly ₹8,000 crore, while domestic investors pulled out ₹3,050 crore. Institutional investor activity was higher than usual due to adjustments related to the latest rebalancing of BSE and FTSE indices. Passive funds tracking the Sensex index had to sell Nestlé and IndusInd Bank, which will be excluded from the index from Monday. On the other hand, they bought new entrants Trent and Bharat Electronics. Other Sensex components also saw changes due to weight adjustments. Meanwhile, the White House's statement on Iran eased concerns about US involvement in the Middle East conflict. In a dictated message on Thursday, President Trump said there was a significant chance of negotiations with Iran, which may or may not happen soon, and that he would decide whether to join Israel's strikes against Iran within the next two weeks. Trump's latest statement is seen as a step back from earlier harsh rhetoric. Israel has continued to attack Iran's nuclear sites and has warned of overthrowing Tehran's leadership, while Iran maintains its stance of no negotiations with the US as long as Israel's assault continues. The Brent crude price fell by 3 per cent and was trading at $75.7 on Friday. However, in June, crude prices had risen by 21 per cent. Gold declined by 0.7 per cent and was trading at $3,348. It fell by 2.4 per cent during the week. 'Equity indices surged as Middle East tensions eased, with the risk of immediate military action reduced due to expected US dialogue with Iran. This development led to a correction in crude prices, favouring domestic markets and boosting foreign investors' sentiment,' said Vinod Nair, head of research at Geojit Financial Services. The market breadth was strong, with 2,463 stocks advancing and 1,484 declining. Moving forward, the trajectory of the Middle East conflict and US trade policy will determine the market's direction. '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 pave the way for the 25,600–25,800 zone. In the absence of any major domestic events, global markets will continue to guide sentiment,' said Ajit Mishra, senior vice-president, research, at Religare Broking.
Forbes
3 hours ago
- Business
- Forbes
China Market Update: Middle East Cool Off Heats Up Hong Kong, Week In Review
CLN Asian equities were mixed overnight following yesterday's Trump's Middle East escalation language, which sent risk assets down the elevator. President Trump appears to be giving the Iranian government time to negotiate. The US dollar was mixed versus Asian currencies, though the renminbi/CNY closed below at 7.17 as the PBOC kept the 1 and 5 Year Loan Prime Rate at 3% and 3.5% as expected. Summer is officially here for traders as S&P and FTSE indices rebalance today, with the latter experiencing elevated volumes across the region as Hong Kong, South Korea, and India outperformed. FTSE's decision to upgrade South Korea to developed markets creates a significant performance disparity from MSCI's emerging markets index. Long MSCI EM and short FTSE EM would be a fun trade to play South Korea's massive rebound. Alibaba +1.55% was Hong Kong's most heavily traded stock as the company saw its FTSE weight increase, as volumes doubled from yesterday. Alibaba announced 453 brands sold more than RMB 100mm worth of goods during the 618 (June 18th) E-Commerce event. There was a lot of chatter about the government replenishing local government consumer subsidy funds after strong demand, which led to depletion in several cities. Horizon Robotics (9960 HK) fell by 1.86% despite being added to the FTSE indices, though the intraday chart shows the power of passive as massive block trades occurred at the close. Competitor Unitree appears closer to an Hong Kong IPO after another funding round. Mainland-listed soy sauce maker Foshan Haitian Flavouring & Food Co. relisted on the Hong Kong Exchanges today after raising HK $10.1B ($1.3B). High flyer Pop Mart -3.62% was clipped. While Hong Kong had a strong day following yesterday's debacle, Mainland China was off with index heavyweights such as banks, insurance, liquor, and telecom outperforming, which kept indices from falling further. Shipping and port stocks rebounded in hopes that Middle Eastern tensions would cool off. Otherwise, relatively quiet! New Content Read our latest article: Navigating Global Crosswinds: Carbon Markets Respond to Tariff Tactics and Executive Orders Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
The Market Online
3 hours ago
- Business
- The Market Online
TSX Futures Climb as U.S. Holds Off on Mideast Military Move
Canadian equity futures ticked up Friday as markets breathed a temporary sigh of relief, with concerns over potential U.S. military escalation in the Israel-Iran standoff showing signs of easing. Market Numbers (Futures) TSX :Up ( 0.20%) 26,559.01TSXV: Down (0.37%) 715.97DOW: Up (0.11%) 42,234.00NASDAQ: Up (0.17%) 21,758.25 FTSE: Up (0.41%) 8,827.97 In the Headlines: Canada's struggling EV market just got hammered harder, as workers say new tariffs are triggering production cuts and job losses across the industry. And Canada Post locked in a deal with its second-largest union, giving rural workers an 11% raise, while talks with CUPW remain on the table. Currencies Update: (Futures) The Canadian dollar is down 0.08% to $0.7298 U.S., also in the red against the Euro by 0.27% to $0.6314 and Bitcoin is up 1.03% to 145,246.94 Commodities: (Futures) Natural Gas: Up (3.44%), 4.13WTI: Down (2.33%), 73.37Gold: Down (0.70%), 3,347.07 Copper: Up (1.34%) 6.14 To stay up-to-date on all of your market news head to Join the discussion: Find out what everybody's saying check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
Yahoo
4 hours ago
- Business
- Yahoo
Are UK investment assets becoming more attractive? Yahoo Finance readers have their say
Earlier this week, investment bank Peel Hunt (PEEL.L) said it was seeing more positivity from institutional investors towards the UK market. In its full-year results, published on Monday, Peel Hunt said: "Following the challenging market conditions of February and March, FY26 has started more positively, with the Trump administration agreeing a number of trade deals, including with the UK, and with interest rates having been cut by the Bank of England. "We are seeing a rotation out of US assets into Europe and greater institutional positivity towards the UK." The investment bank said that equity capital market (ECM) activity in the UK "remains generally subdued but could gain traction should macroeconomic conditions continue to stabilise." Read more: Why the UK's AIM is struggling 30 years on The UK's FTSE 100 (^FTSE) is up nearly 8% year-to-date, while the US S&P 500 (^GSPC) index is just 1.7% in the green since the start of 2025, with concerns about the economic impact of US president Donald Trump's tariffs weighing on investor sentiment. On the back of the FTSE's latest record close last week, Saxo Markets UK investor strategist Neil Wilson said that the UK blue-chip index has "rallied somewhat against the odds with broad-based gains among its diverse membership". "I think we have clearly seen a rotation in global equity markets as investors have for the first time in years questioned the TINATA — there is no alternative to America," he said said. "Investors are looking elsewhere and consistently conversations with clients revolve around geographic diversification and reducing exposure to the US." At the start of the week, we asked Yahoo Finance UK readers whether UK investment assets were becoming more attractive. We received 201 responses, with 41% of readers believing that the UK market was becoming more appealing, while 38% disagreed and 21% were undecided on the matter. Read more: UK consumers braced for petrol price hikes Bank of England holds interest rates at 4.25% amid inflation fears Eurozone inflation falls below ECB target to 1.9%
