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Business Standard
5 hours ago
- Business
- Business Standard
Sensex rises 1,100 pts, Nifty tops 25,100: What's driving market rally?
Indian bench mark indices gained over 1 per cent in trade, snapping a three-day losing streak, on Friday, June 20, 2025. The BSE Sensex surged 1,133 points or 1.3 per cent and logged an intraday high at 82,494.49. Meanwhile, the National Stock Exchange (NSE) Nifty50 topped the 25,000 level and rallied 343 points or 1.3 per cent to the day's high at 25,136.2. However, the 30-scrip gauge ended at 82,408.17, up 1,046.3 points or 1.29 per cent and Nifty50 closed at 25,112.4, up 319.15 points or 1.29 per cent. On BSE, Bharti Airtel, Mahindra & Mahindra (M&M), Power Grid, Nestle and Reliance Industries were among the top gainers rising up to 3 per cent. On NSE, Trent, Jio Financial Services, M&M, Bharti airtel and Nestle were among the top gainers, rising up to 4 per cent. Why are Nifty and Sensex rising in trade today? US President Donald Trump has reportedly stated that he will decide within the next two weeks whether America will intervene in the Israel-Iran conflict. Overnight, Israel targeted nuclear sites in Iran with airstrikes, while Iran launched missiles and drones at Israel. The week-long conflict has escalated, with no clear resolution in sight from either side. According to G Chokkalingam, Founder, Equinomics Research, Trump's comment is positive for markets as the US is not expected to intervene in the war amid international pressure. "He may not go for direct conflict because of the international pressure which is positive for the Indian market," said G Chokkalingam. Crude oil prices ease As the White House delayed a decision on US involvement in the Israel-Iran conflict, oil prices corrected over 2 per cent which according to G Chokkalingam also boosted market sentiments. Last checked, Brent crude futures fell $2, or 2.5 per cent, to $76.85 a barrel. China keeps interest rate steady The People's Bank of China (PBoC) decided to keep its benchmark lending rates unchanged today as the trade agreement with the US helped alleviate some concerns about economic growth. The PBoC maintained the 1-year loan prime rate (LPR) at 3 per cent and the 5-year LPR at 3.5 per cent, according to reports. This, according to Kranthi Bathini, director-equity strategy, WealthMills Securities pushed the Chinese markets higher which also had a positive impact on Indian equities. At the last count, mainland China's CSI 300 was up 0.09 per cent and Hong Kong's Hang Seng was up 1.26 per cent. RBI eases norms for new project finance loans A major contributor to the rally in Indian equities was buying in Public Sector Undertaking (PSU) Banks. Last checked, Nifty PSU Bank was up 1.59 per cent, where out of 12 stocks, 11 advanced. Among others, Punjab National Bank (PNB), Union Bank, Canara Bank, and Indian Overseas Bank were among the top gainers. The surge came after the Reserve Bank of India (RBI) issued its final guidelines on project finance loans. The central bank has directed lenders to set aside 1 per cent of the value of loans for under-construction infrastructure projects to cover potential losses, easing its earlier draft proposal that envisaged provisioning rising up to 5 per cent, following an appeal by lenders. The requirement will come into effect on October 1. "RBI's decision to reduce provisioning on infrastructure loans is a major reason contributing to the bullish sentiment in the market," said Vishnu Kant Upadhyay, AVP - research & advisory, Master Capital Services. Sensex rebalancing According to Nuvama Institutional Equities, Sensex rejig can push the market upwards. "Historically, Sensex inclusions tend to see intraday upmoves, supported by stronger volumes, and a similar trend could play out this time as well." Tata Group-owned Trent Ltd and Bharat Electronics Ltd (BEL) are expected to be included in the benchmark 30-stock BSE Sensex index which are likely to bring inflow of $708 million. Trent is expected to see an inflow of $330 million, while the aerospace and defence electronics company BEL could see $378 million in inflows, according to Nuvama estimates. Technical view If Nifty is able to sustain the sentimental level of 25,000 level, we can see the momentum to accelerate further, but 25,000 level is the level to watch in the medium to short term," said Bathini. "Nifty is currently trading above all its key moving averages, indicating a positive undertone. The initial bias looks positive with a potential upsurge towards 25,200 which if broken decisively will take such a rally further higher towards 25,500-25,800. On the downside, the 24,600–24,500 zone is expected to act as immediate support. Any decline towards this range may offer a favourable opportunity to initiate fresh long positions," said Kant.
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Business Standard
8 hours ago
- Automotive
- Business Standard
M&M shares up for 3rd straight day, rebounds 34% from April low; here's why
Shares price of Mahindra & Mahindra (M&M) today: Shares of automobile giant Mahindra & Mahindra (M&M) were up 2 per cent to ₹3,160 on the BSE in Friday's intra-day trade. The stock price of M&M is trading higher for the third straight day, gaining 5 per cent during the period. It has recovered 34 per cent from its 52-week low of ₹2,360.45 touched on April 7, 2025. The market price of M&M is inching towards its all-time high level of ₹3,276.30 touched on February 10, 2025. Thus far in the month of June 2025, M&M has outperformed the market by rising 6 per cent. In comparison, the BSE Sensex and BSE Auto index were up 0.27 per cent and 0.58 per cent, respectively. Why has M&M outperformed the market in the month of June? The M&M automotive segment reported a healthy growth of ~17.3 per cent year-on-year (Y-o-Y) with 84,110 units. SUV segment volumes for the month came in at 52,431 units, up 21.3 per cent Y-o-Y. M&HCV witnessed a growth of 1 per cent Y-o-Y at 1,094 units. Tractors sales also reported a healthy growth of 9.5 per cent Y-o-Y at 40,643 units. Within this, domestic sales reported a healthy growth of 10.4 per cent Y-o-Y at 38,914 units. Early advancement of above normal Southwest monsoon should bode well for kharif sowing. Land preparation activities are progressing well for paddy sowing. Approval of hike in MSP for Paddy and other kharif crops will bring positive sentiments among farmers. Better reservoir levels, Government announcement of record foodgrain production and introduction of various schemes will help farmers aim higher productivity going forward and in turn augur well for tractor demand, according to M&M. Meanwhile, according to media sources, Aernnova Aerospace and Mahindra Aerostructures have signed a multi-year manufacturing contract valued at ~$300 million, significantly expanding their 12-year partnership. ALSO READ | Kaynes Technology gains 4% after launching QIP to raise ₹1,600 cr; Details Under this agreement, Mahindra Aerostructures will produce metal sub-assemblies and components for Airbus and Embraer aircraft, including the Embraer C390 Millennium military transport. The Indian company will supply these components to Aernnova's facilities in Spain, the UK, Portugal, and Brazil, supporting production ramp-ups as the aerospace sector rebounds globally. Mahindra Aerostructures is a wholly-owned subsidiary of M&M, specialising in the production of metallic parts and assemblies for leading global aerospace majors. It operates a state-of-the-art facility in Bengaluru, India, which was inaugurated in 2013 and commenced serial deliveries in 2015. Mahindra Aerostructures delivers over 120,000 parts and assemblies monthly to destinations in Europe, North America, and Australia. This contract highlights Mahindra's growing role in the global aerospace supply chain and underscores India's emergence as a trusted manufacturing partner for leading international OEMs, ICICI Securities said in a note. ALSO READ | While growth outlook for the passenger vehicle (PV) industry is muted at ~1-2 per cent, a 15-20 per cent growth outlook for M&M's utility vehicles (UVs) is encouraging (a similar divergence in M&M's growth versus the industry was seen in FY25 when M&M delivered on its guidance). Continued upcycle in the Tractor industry will support valuations in the medium term. Monitor the execution of battery electric vehicles (BEVs) in the coming months as this is crucial for M&M to meet its upcoming CAFÉ targets (of having ~20-25 per cent of the portfolio from BEVs), as also support current valuations, analysts at Elara Capital said in quarterly update.
New Indian Express
9 hours ago
- Business
- New Indian Express
Nifty crosses 25,000, Sensex rises 710 points; all sectors see gains
CHENNAI: Stock markets are trading strong in the mid-morning session on Friday, with the Sensex up by 710 points and the Nifty reclaiming the 25,000 level. Both the BSE Midcap and Smallcap indices have gained around 0.5%. The uptick is being driven by continued buying from foreign institutional investors (FIIs) and domestic institutional investors (DIIs), though overall momentum remains subdued amid ongoing Middle East tensions. Top gainers on the Nifty include M&M, Jio Financial, Bharti Airtel, Power Grid Corp, and Shriram Finance. Meanwhile, Bajaj Auto, Hero MotoCorp, Bajaj Finance, Wipro, and Tech Mahindra are among the top losers. All sectoral indices are in the green, with metals, PSU banks, real estate, and telecom stocks rising between 1% and 2%. Institutional Flows & Sector Trends: FIIs continued their buying streak for a third straight session on June 19, with net inflows of ₹934 crore. DIIs were also net buyers, adding ₹605 crore, lending support to the market. Financials led intraday gains (+0.5% to 0.8%), especially power-financing firms and state-owned banks, buoyed by the RBI's easing of infrastructure funding norms, effective October. Defensive sectors like FMCG, pharma, and IT remain in favor amid prevailing uncertainty. Market Expectations and Analyst Forecasts: The Nifty is encountering resistance near the 25,000 mark, struggling to hold above it, with sell-offs seen at each attempt.
Time of India
10 hours ago
- Business
- Time of India
M&M Share Price Live Updates: M&M's three-month return showcases market resilience
20 Jun 2025 | 10:48:04 AM IST Stay informed with the M&M Stock Liveblog, your comprehensive resource for real-time updates and in-depth analysis of a leading stock. Get the latest details on M&M, including: Last traded price 3165.0, Market capitalization: 393464.96, Volume: 1605733, Price-to-earnings ratio 30.49, Earnings per share 103.97. Our liveblog combines fundamental and technical insights to provide a holistic view of M&M's performance. Stay ahead of the market with breaking news that can influence M&M's trajectory. Our expert analysis and stock recommendations empower you to make well-informed financial decisions. Trust the M&M Stock Liveblog for up-to-date information and expert insights. The data points are updated as on 10:48:03 AM IST, 20 Jun 2025 Show more
Economic Times
12 hours ago
- Business
- Economic Times
Sensex gains over 250 pts, Nifty above 24,850 as bank, auto stocks lead rally
Indian equity benchmarks opened higher on Friday, supported by gains in banking and auto stocks, even as rising tensions between Israel and Iran continued to weigh on global investor sentiment. ADVERTISEMENT At 9:19 am, the BSE Sensex was up 274 points, or 0.34%, at 81,635, while the Nifty50 rose 70 points, or 0.28%, to 24,864 From the Sensex pack, Bajaj Finserv, M&M, UltraTech Cement, SBI, Eternal, Maruti Suzuki, and Axis Bank were the top gainers, rising up to 1.5%. On the flip side, IndusInd Bank, Bajaj Finance, Tech Mahindra, and Titan opened in the red. Meanwhile, Asian peers opened subdued on Friday after reports that Israel had bombed Iranian nuclear sites, triggering retaliatory missile and drone strikes from White House said U.S. President Donald Trump would decide within two weeks whether the U.S. would back Israel the sectoral front, Nifty Bank, Financial Services, Auto, PSU Bank, and Realty indices rose between 0.2% and 0.8%, while Nifty IT, Consumer Durables, and Oil & Gas opened up to 0.3% lower. ADVERTISEMENT Among individual stocks, shares of project financiers PFC and REC jumped up to 4.5% after the RBI issued final guidelines on project financing, streamlining norms across banks, NBFCs, and co-operative banks by replacing multiple legacy circulars. Experts View ADVERTISEMENT "Nifty which has been trading within the 24500-25000 range for about a month now is likely to remain within this range in the near-term. The upper side of the range will be broken only on news of de-escalation of the Israel-Iran conflict or an abrupt end to the war. The lower side of the range is unlikely to break since big buying, particularly by domestic institutions, will emerge on dips. If the war lingers and crude rises beyond $85 the lower band of the range will be broken," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Matalia, Derivative Analyst at Choice Broking, said, "Nifty can find support at 24,700 followed by 24,600 and 24,500. On the higher side, 24,850 can be an immediate resistance, followed by 24,900 and 25,000." ADVERTISEMENT Global MarketsShare markets in Asia struggled for direction on Friday as fears of a potential U.S. attack on Iran hung over markets, while oil prices were poised to rise for a third straight week on the escalating Israel-Iran MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% but was set for a weekly drop of 1%. Japan's Nikkei slipped 0.2%. ADVERTISEMENT China's blue chips rose 0.3%, while Hong Kong's Hang Seng gained 0.5%, after the central bank held the benchmark lending rates steady as widely expected. Wall Street equities were closed on Thursday. FII/DII Tracker The Foreign institutional investors (FIIs) extended their buying on the third consecutive day on June 19 as they bought equities worth Rs 934 crore. On the other hand, Domestic institutional investors (DIIs) also extended their buying as they bought equities of Rs 605 crore on the same day. Crude Oil Brent crude prices slipped nearly $2 on Friday, giving up gains from the previous session, after the White House postponed its decision on potential U.S. involvement in the Israel-Iran conflict. Despite the pullback, Brent is on track for a third consecutive weekly crude futures dropped $1.89, or 2.4%, to $76.96 a barrel by 02:55 GMT, but remain up 3.8% for the week.U.S. West Texas Intermediate (WTI) crude for July delivery — which didn't trade on Thursday due to a U.S. holiday and expires on Friday — was up 53 cents, or 0.7%, at $75.67. The more actively traded August contract edged up 17 cents, or 0.2%, to $73.67. Rupee vs Dollar The Indian rupee rose 15 paise to 86.58 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, declined 0.34% to 98.56 level. (With inputs from agencies) (You can now subscribe to our ETMarkets WhatsApp channel)
