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The Hindu
5 hours ago
- Business
- The Hindu
Markets snap third-day losing run; Sensex jumps 1,000 points as financial, telecom shares gain
Equity benchmark indices Sensex and Nifty rebounded sharply by over 1% on Friday (June 20, 2025) after sliding for the past three sessions, propelled by bargain hunting in financial, telecom and tech stocks amid a correction in global crude prices. A largely supportive trend overseas and renewed foreign capital inflows supported the domestic equities amid easing tension in the Middle East, traders said. After a flat start, the 30-share BSE Sensex later found its mojo back and surged 1,046.30 points or 1.29%, to settle at 82,408.17. During the day, it jumped 1,132.62 points or 1.39%, to 82,494.49. The 50-share NSE Nifty climbed 319.15 points or 1.29%, to 25,112.40. 'Equity indices surged as Middle East tension moderated with the 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, a rapid fall in the VIX index and buying were witnessed in rate-sensitive and consumer-orientated sectors like finance, auto and reality, and in anticipation of better Q1FY26 results led by rate cut benefits, a drop in inflationary pressure and a 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, Axis Bank and Maruti were the laggards. 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 (June 19, 2025) for the Juneteenth holiday. Global oil benchmark Brent crude dropped 1.93% to $77.33 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 934.62 crore on Thursday (June 19, 2025), according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 605.97 crore. On Thursday (June 19, 2025), the 30-share BSE Sensex declined 82.79 points, or 0.10%, to settle at 81,361.87. The Nifty dipped 18.80 points or 0.08% to 24,793.25.
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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.
The Star
7 hours ago
- Business
- The Star
FBM KLCI ends higher as caution caps momentum
KUALA LUMPUR: The FBM KLCI ended marginally higher on Friday, lifted by selective buying in blue chips, although overall market sentiment remained cautious amid global economic concerns and geopolitical tensions in the Middle East. The FBM KLCI rose 1.30 points, or 0.09%, to 1,502.74 after hitting an intraday high of 1,507.97 and a low of 1,500.04. Despite the gains, the FBM KLCI posted a full-week decline of 1.01%. Market activity was encouraging, with 2.6 billion shares worth RM3.4bil changing hands. Market breadth, however, was negative, with 319 gainers versus 518 losers, while 505 counters remained unchanged. Dealers said investors remained cautious amid prevailing market uncertainty, with concerns over global economic conditions and ongoing geopolitical tensions in the Middle East continuing to weigh on sentiment. Among the gainers, Nestle rose 96 sen to RM72.52, Carlsberg added 92 sen to RM19.66, Malaysian Pacific Industries gained 90 sen to RM20.50 and Hong Leong Financial Group increased 58 sen to RM16.58. PETRONAS Gas slid 54 sen to RM17.48, BAT fell 19 sen to RM4.37, Kluang Rubber lost 16 sen to RM5.75 and Petron Malaysia Refining & Marketing gave up 16 sen to RM3.73. According to data from Bursa Malaysia, foreign investors continued to sell local stocks on Thursday, offloading RM110mil worth of equities. Meanwhile, local institutions purchased RM115mil worth of equities, while retailers sold RM4mil. On the forex market, the ringgit was up 0.03% against the greenback to 4.2595. The local currency declined by 0.3% against the euro, trading at 49,042. It also fell 0.4% against the pound sterling, reaching 5.7408, and dropped 0.18% against the Singapore dollar, closing at 3.3148. Among the key regional markets: Japan's Nikkei 225 closed down 0.22% to 38,403.23; South Korea's Kospi added 1.48% to 3,021.84; Hong Kong's Hang Seng Index rose 0.93% to 23,453.00; China's CSI 300 Index climbed 0.09% to 3,846.64; Taiwan's Taiex added 0.19% to 22,045.74 and; Singapore's Straits Times Index gained 0.02% to 3,894.80 points.
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Business Standard
8 hours ago
- Business
- Business Standard
Nestle India to consider bonus issue on June 26; stock advances 2%
Nestle bonus issue: Nestle India shares rose 1.6 per cent in trade on Friday, June 20, 2025, logging an intraday high at ₹2,356.8 per share on BSE after the company said its board will consider issuing bonus shares in a meeting on June 26, 2025. However, at 10:18 AM, Nestle shares pared some gains and were trading 1.03 per cent higher at ₹2,342.85 per share on the BSE. In comparison, the BSE Sensex was up 0.65 per cent at 81,894.29. The company's market capitalisation stood at ₹2,25,887.56 crore. Its 52-week high was at ₹2,777 per share and 52-week low was at ₹2,115 per share. Nestle bonus shares detail After market hours, on Thursday, Nestle informed investors that the fast-moving consumer goods (FMCG) giant's board will consider issuing bonus shares. What is bonus issue? A bonus issue refers to a corporate action where a company issues additional shares to its existing shareholders for free, in proportion to the number of shares they already hold. Only existing shareholders who hold shares in the company before the record date are eligible to receive the bonus shares. If one buys the shares on or after the record date, they won't be eligible to receive the bonus issue. Nestle Q4 results The consumer giant reported a net profit fall of 5 per cent to ₹885.4 crore in the January to March quarter of the financial year 2025 (FY25), as compared to ₹934.1 crore in the same period last year. The fall in the bottom line came while the revenue from operations rose 4.5 per cent to ₹5,503.8 crore in the quarter under review. In the fourth quarter of the previous year, the company reported a revenue of ₹5,267.50 crore.
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Business Standard
11 hours ago
- Business
- Business Standard
Stock Market LIVE: Airtel, M&M, RIL lift Sensex 680 pts, Nifty tops 25,000; Nifty PSB, Realty up 1%
Sensex Today | Stock Market LIVE on Friday, June 20, 2025: In the broader markets, the Nifty MidCap index and the Nifty SmallCap index added 0.84 per cent and 0.74 per cent respectively 11:03 AM Stock Market LIVE Updates: Nestle India to consider bonus issue on June 26; stock advances 2% Stock Market LIVE Updates: Nestle India shares rose 1.6 per cent in trade on Friday, June 20, 2025, logging an intraday high at ₹2,356.8 per share on BSE after the company said its board will consider issuing bonus shares in a meeting on June 26, 2025. However, at 10:18 AM, Nestle shares pared some gains and were trading 1.03 per cent higher at ₹2,342.85 per share on the BSE. In comparison, the BSE Sensex was up 0.65 per cent at 81,894.29. The company's market capitalisation stood at ₹2,25,887.56 crore. Its 52-week high was at ₹2,777 per share and 52-week low was at ₹2,115 per share. READ MORE 10:32 AM Stock Market LIVE Updates: Bulls lift benchmarks; Sensex up 700 pts Stock Market LIVE Updates: BSE Sensex was ruling over 700 pts higher at 82,077 level around 10:30 AM. The Nifty50, meanwhile, was at 25,014, up 220 points or 0.89 per cent. In the broader market, the Nifty MidCap, and SmallCap indices were up 0.8 per cent each. 9:23 AM Stock Market LIVE Updates: Sensex heatmap Stock Market LIVE Updates: 26 out of 30 stocks were trading in the positive zone on the BSE Sensex.
