Latest news with #UltraTechCement
News18
17 hours ago
- Business
- News18
Why Is Indian Stock Market Rising? Sensex Surges Over 800 Points, Nifty Reclaims 25,000
Last Updated: Sensex and Nifty 50 posted strong intraday gains on Friday, June 20, defying escalating tensions between Israel and Iran Why Is Market Rising Today? Indian stock market benchmarks Sensex and Nifty 50 posted strong intraday gains on Friday, June 20, defying escalating tensions between Israel and Iran. The Sensex opened slightly lower at 81,354.85 compared to its previous close of 81,361.87 but surged over 800 points, or 1%, to touch an intraday high of 82,186.37. Similarly, the Nifty 50 began at 24,787.65 and climbed 1% to hit an intraday peak of 25,040.45 from its previous close of 24,793.25. Among the top gainers on the Sensex were Bajaj Finserv, Mahindra & Mahindra, UltraTech Cement, SBI, Eternal, Maruti Suzuki, and Axis Bank, all rising up to 1.5%. However, IndusInd Bank, Bajaj Finance, Tech Mahindra, and Titan opened in negative territory. In contrast, Asian markets opened on a subdued note following reports of Israel bombing Iranian nuclear facilities, which prompted retaliatory missile and drone attacks from Iran. Meanwhile, the White House stated that President Donald Trump would decide within two weeks whether the US would provide military support to Israel. Investor sentiment remained upbeat in Indian markets, reflected in the rise in overall market capitalisation of BSE-listed companies, which grew by nearly Rs 3 lakh crore to reach Rs 446 lakh crore, up from Rs 443 lakh crore in the previous session. Following three sessions of subdued trade, Indian equities are bouncing back as investors take advantage of attractive stock valuations. Experts believe the underlying economic fundamentals remain strong, prompting renewed buying interest and short covering in key sectors. A sharp decline in crude oil prices has provided a tailwind to the market. Brent crude slipped over 2% to near $77 per barrel, easing inflationary and fiscal concerns. Despite escalating Middle East tensions, the fall is attributed to profit booking and uncertainty surrounding potential US intervention in the Israel-Iran conflict. White House Press Secretary Karoline Leavitt confirmed that President Donald Trump is expected to make a decision on US involvement within two weeks, keeping geopolitical anxiety high but market reaction measured for now. Analysts say oil remaining below $80 per barrel is a positive sign for Indian equities. FPIs Resume Buying Foreign portfolio investors (FPIs) have been buying Indian equities for the last three consecutive sessions amid a decline in the dollar index. On June 19, FPIs bought Indian equities worth ₹934.62 crore in the cash segment. As the Indian economy's macro outlook remains strong, experts believe foreign investors could be eying fairly valued segments of the stock market after the recent fall. What Should Investors Do? '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 Investments.
Hans India
4 days ago
- Business
- Hans India
Benchmarks snap two-day losing streak; recover 1%
Mumbai: Shrugging off geopolitical concerns amid escalating tensions between Israel and Iran, stock markets rebounded by nearly 1 per cent on Monday following value buying in oil & gas and IT shares and gains in other Asian markets as Brent crude oil prices dropped. The 30-share BSE Sensex jumped 677.55 points or 0.84 per cent to settle at 81,796.15 with 27 of its constituents ending in the green and three with losses. During the day, it surged 747.22 points or 0.92 per cent to 81,865.82. The 50-share NSE Nifty climbed 227.90 points or 0.92 per cent to 24,946.50. Among Sensex firms, UltraTech Cement rose the most by 2.39 per cent. Tech Mahindra, HCL Tech, Tata Consultancy Services, Eternal, Asian Paints, Tata Steel and Kotak Mahindra Bank were among the gainers. Tata Motors, Adani Ports and Sun Pharma were the laggards. 'Despite ongoing geopolitical tensions between Israel and Iran, the market moved higher, supported by gains in large-cap stocks, as investors maintained their focus on long-term fundamentals in the time of volatile situations. Geopolitical developments in the Middle East are likely to influence near-term market sentiment, with any signs of de-escalation being closely monitored,' Vinod Nair, Head of Research, Geojit Investments Limited, said. 'Among sectors, oil and gas recorded strong gains, while the IT sector outperformed in anticipation of the upcoming US Fed policy meeting, which is expected to provide further clarity on the interest rate outlook,' Nair added. The BSE midcap gauge jumped 0.93 per cent and smallcap index climbed 0.38 per cent. All BSE sectoral indices ended higher. IT jumped 1.50 per cent, followed by BSE Focused IT (1.50 per cent), teck (1.35 per cent), oil & gas (1.22 per cent), realty (1.21 per cent), services (1.10 per cent) and consumer durables (1.05 per cent). Wholesale price inflation (WPI) declined to a 14-month low of 0.39 per cent in May on easing prices of food articles and fuel. 'Despite mounting global uncertainty triggered by escalating tensions in the Middle East, Indian markets remained resilient,' Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity – Ashika Stock Broking part of Ashika Group, said. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,263.52 crore on Friday, according to exchange data. In the previous two sessions, the BSE Sensex lost 1,396.54 points or 1.69 per cent, and the Nifty dropped 422.8 points or 1.68 per cent.
The Print
4 days ago
- Business
- The Print
Sensex, Nifty rebound nearly 1 pc on value buying, global share rally
The 50-share NSE Nifty climbed 227.90 points or 0.92 per cent to 24,946.50. The 30-share BSE Sensex jumped 677.55 points or 0.84 per cent to settle at 81,796.15 with 27 of its constituents ending in the green and three with losses. During the day, it surged 747.22 points or 0.92 per cent to 81,865.82. Mumbai, Jun 16 (PTI) Shrugging off geopolitical concerns amid escalating tensions between Israel and Iran, stock markets rebounded by nearly 1 per cent on Monday following value buying in oil & gas and IT shares and gains in other Asian markets as Brent crude oil prices dropped. Among Sensex firms, UltraTech Cement rose the most by 2.39 per cent. Tech Mahindra, HCL Tech, Tata Consultancy Services, Eternal, Asian Paints, Tata Steel and Kotak Mahindra Bank were among the gainers. Tata Motors, Adani Ports and Sun Pharma were the laggards. 'Despite ongoing geopolitical tensions between Israel and Iran, the market moved higher, supported by gains in large-cap stocks, as investors maintained their focus on long-term fundamentals in the time of volatile situations. Geopolitical developments in the Middle East are likely to influence near-term market sentiment, with any signs of de-escalation being closely monitored,' Vinod Nair, Head of Research, Geojit Investments Limited, said. 'Among sectors, oil and gas recorded strong gains, while the IT sector outperformed in anticipation of the upcoming US Fed policy meeting, which is expected to provide further clarity on the interest rate outlook,' Nair added. The BSE midcap gauge jumped 0.93 per cent and smallcap index climbed 0.38 per cent. All BSE sectoral indices ended higher. IT jumped 1.50 per cent, followed by BSE Focused IT (1.50 per cent), teck (1.35 per cent), oil & gas (1.22 per cent), realty (1.21 per cent), services (1.10 per cent) and consumer durables (1.05 per cent). In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the positive territory. European markets were quoting in the green. US markets ended lower on Friday. Global oil benchmark Brent crude declined 0.81 per cent to USD 73.63 a barrel. Wholesale price inflation (WPI) declined to a 14-month low of 0.39 per cent in May on easing prices of food articles and fuel. 'Despite mounting global uncertainty triggered by escalating tensions in the Middle East, Indian markets remained resilient,' Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity – Ashika Stock Broking part of Ashika Group, said. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,263.52 crore on Friday, according to exchange data. In the previous two sessions, the BSE Sensex lost 1,396.54 points or 1.69 per cent, and the Nifty dropped 422.8 points or 1.68 per cent. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Hindu
4 days ago
- Business
- The Hindu
Sensex, Nifty rebound nearly 1% on value buying, global rally
Benchmark stock indices Sensex and Nifty rebounded by nearly 1% on Monday (June 16, 2025), following value buying in IT and oil shares and a rally in global shares amid a drop in Brent crude oil prices. The 30-share BSE Sensex jumped 677.55 points or 0.84%, to settle at 81,796.15. During the day, it surged 747.22 points or 0.92% to 81,865.82. The 50-share NSE Nifty climbed 227.90 points or 0.92% to 24,946.50. Among 30 Sensex firms, UltraTech Cement, Tech Mahindra, HCL Tech, Tata Consultancy Services, Eternal, Asian Paints, Tata Steel and Kotak Mahindra Bank were among the biggest gainers. Tata Motors, Adani Ports and Sun Pharma were the laggards. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the positive territory. European markets were quoting in the green. U.S. markets ended lower on Friday (June 13, 2025). Global oil benchmark Brent crude declined 0.81% to $73.63 a barrel. Wholesale price inflation (WPI) declined to a 14-month low of 0.39% in May on easing prices of food articles and fuel. 'Despite mounting global uncertainty triggered by escalating tensions in the Middle East, Indian markets remained resilient,' Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity — Ashika Stock Broking part of Ashika Group, said. Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,263.52 crore on Friday (June 13, 2025), according to exchange data. On Friday (June 13, 2025), the 30-share BSE Sensex dived 573.38 points or 0.70% to settle at 81,118.60. The Nifty dropped 169.60 points or 0.68% to 24,718.60. In the past two days, the BSE benchmark has lost 1,396.54 points or 1.69%, and the Nifty dropped 422.8 points or 1.68%.
Hindustan Times
4 days ago
- Business
- Hindustan Times
Sensex, Nifty rebound nearly 1 pc on value buying, global rally
Benchmark stock indices Sensex and Nifty rebounded by nearly 1 per cent on Monday following value buying in IT and oil shares and a rally in global shares amid a drop in Brent crude oil prices. The 30-share BSE Sensex jumped 677.55 points or 0.84 per cent to settle at 81,796.15. During the day, it surged 747.22 points or 0.92 per cent to 81,865.82. The 50-share NSE Nifty climbed 227.90 points or 0.92 per cent to 24,946.50. Among 30 Sensex firms, UltraTech Cement, Tech Mahindra, HCL Tech, Tata Consultancy Services, Eternal, Asian Paints, Tata Steel and Kotak Mahindra Bank were among the biggest gainers. Tata Motors, Adani Ports and Sun Pharma were the laggards. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the positive territory. European markets were quoting in the green. US markets ended lower on Friday. Global oil benchmark Brent crude declined 0.81 per cent to USD 73.63 a barrel. Wholesale price inflation (WPI) declined to a 14-month low of 0.39 per cent in May on easing prices of food articles and fuel. "Despite mounting global uncertainty triggered by escalating tensions in the Middle East, Indian markets remained resilient," Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity – Ashika Stock Broking part of Ashika Group, said. Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,263.52 crore on Friday, according to exchange data. On Friday, the 30-share BSE Sensex dived 573.38 points or 0.70 per cent to settle at 81,118.60. The Nifty dropped 169.60 points or 0.68 per cent to 24,718.60. In the past two days, the BSE benchmark has lost 1,396.54 points or 1.69 per cent, and the Nifty dropped 422.8 points or 1.68 per cent.
