Latest news with #VKVijayakumar
India Today
8 hours ago
- Business
- India Today
Sensex opens 228 points higher, Nifty above 24,800; Nestle gains 1%
Benchmark stock market indices opened higher on Friday, possibly due to buying from investors, amid rising tensions between Israel and Iran, leading to cautious sentiment on Dalal S&P BSE Sensex was up 160.43 points to 81,522.30, while the NSE Nifty50 gained 36.45 points to 24,829.70 as of 9:23 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that 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 deescalation of the Israel-Iran conflict or an abrupt end to the war. There is uncertainty on this. 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," he & Mahindra led the early gainers with a 1.01% jump, followed by Bharti Airtel up 0.71%, Eternal up 0.70%, UltraTech Cement gaining 0.61%, and HDFC Bank rising 0.57%. On the losing side, IndusInd Bank dropped 0.90%, Bajaj Finance fell 0.49%, Tech Mahindra declined 0.37%, Kotak Mahindra Bank was down 0.21%, and Tata Motors slipped 0.10%.The broader market indices opened with mixed signals as Nifty Midcap 50 gained 0.04%, Nifty Midcap 100 rose 0.05%, while Nifty Smallcap fell 0.10% and India VIX dropped 4.15%.Among sectoral indices, several posted gains including Nifty PSU Bank up 0.63%, Nifty Realty rising 0.41%, Nifty Financial Services gaining 0.33%, Nifty Healthcare adding 0.21%, Nifty Pharma up 0.12%, Nifty Auto rising 0.11%, Nifty Private Bank gaining 0.06%, Nifty Metal adding 0.04%, and Nifty FMCG advancing 0.01%.advertisementHowever, some sectors opened in the red. Nifty Media declined 0.66%, Nifty Consumer Durables fell 0.38%, Nifty Oil & Gas dropped 0.14%, and Nifty IT slipped 0.12%."A distinct feature of the market trend visible in yesterday's trade was the weakness in the broader market. While Nifty remained almost flat, SMIDs cracked with the smallcap index correcting sharply by 2%," said Vijayakumar."This trend of weakness in the broader market is likely to continue since they are excessively valued and the ongoing risk-off can lead to further selling in this segment. Money may move from the over-valued SMIDs to the fairly valued, safe largecaps in financials, industrials, autos and real estate," he added.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
India Today
9 hours ago
- Business
- India Today
Sensex jumps over 700 points: Why is the stock market rising today?
Benchmark stock markets saw a significant surge on Friday, with the S&P BSE Sensex climbing 695.99 points to reach 82,060.16 by 11:15 am. The NSE Nifty50 also experienced a rise, gaining 215.75 points to stand at 25, rally was largely driven by strong performances in banking and financial stocks, following a regulatory change by the Reserve Bank of India (RBI).advertisementThe primary catalyst for this rally was the RBI's announcement concerning infrastructure financing. The central bank has implemented new norms that relax provisioning requirements for under-construction infrastructure projects. This adjustment reduces the amount of capital banks and NBFCs are required to set aside for potential loan defaults, thereby enabling them to extend more credit, especially in sectors like power, housing, roads, and railways. The market responded positively to the RBI's policy update, with infrastructure financiers witnessing substantial gains. Shares of companies like Power Finance Corporation, REC, and IRFC saw strong intraday advances. Major contributors to the broader index gains included Jio Financial, Shriram Finance, Mahindra & Mahindra, and JSW Steel, with heavyweights such as Reliance Industries and State Bank of India also rising by 1-2%.Broader market sentiment was upbeat, although there has been volatility in recent sessions concerning small and mid-cap stocks. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted the potential for the Nifty to remain range-bound between 24,500 and 25,000 in the near term. He said, "The upper side of the range will be broken only on news of de-escalation in the Israel-Iran conflict or an abrupt end to the war. There is uncertainty on this front."advertisementDespite the positive market conditions, Vijayakumar also highlighted concerns about the broader market. He pointed out that while the Nifty remains stable, small and mid-cap stocks have corrected sharply, with some seeing declines of up to 2%."This trend may persist as excessive valuations and risk-off sentiment continue to weigh on SMIDs," he remarked. Investors might consider redirecting their capital into more stable, fairly valued large-cap stocks across various sectors such as financials, industrials, autos, and real policy from the RBI is creating a favourable environment for markets, yet global uncertainties and sector-specific valuation concerns still loom over the market's future trajectory. Investors remain cautious, watching for developments that could impact market domestic institutional buying on market dips provides some cushion, geopolitical tensions and crude oil price fluctuations remain potential threats. For instance, if crude oil prices exceed $85 per barrel, the market's lower range could be tested. As Dr. Vijayakumar notes, the market's path forward is contingent on these today's market rally reflects a positive response to regulatory changes, but persistent global uncertainties suggest that further market shifts will heavily depend on external developments and ongoing valuation assessments. The optimism around infrastructure lending is a significant driver, but vigilance is necessary as the global landscape continues to In
The Hindu
11 hours ago
- Business
- The Hindu
Markets rebound in early trade tracking firm Asian peers, foreign fund inflows
Equity benchmark indices Sensex and Nifty rebounded in early trade on Friday (June 20, 2025) after a three-day decline tracking a positive trend in Asian markets and foreign fund inflows. After a flat start, the 30-share BSE Sensex later climbed 289.43 points to 81,651.30 in early trade. The 50-share NSE Nifty went up by 88.25 points to 24,881.50. From the 30-Sensex firms, Mahindra & Mahindra, Eternal, State Bank of India, UltraTech Cement, Bajaj Finserv and Maruti were among the biggest gainers. IndusInd Bank, Bajaj Finance, Tech Mahindra and Kotak Mahindra Bank were among 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 were quoting in the positive territory. US markets were closed on Thursday for Juneteenth holiday. Global oil benchmark Brent crude dropped 2.45% to $76.92 a barrel. "Nifty which has been trading within the 24,500-25,000 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," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. 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.
Hans India
11 hours ago
- Business
- Hans India
Indian stock market opens higher amid positive Asian cues
The Indian benchmark indices opened higher on Friday amid positive Asian cues, as buying was seen in the PSU bank, IT and auto sectors in the early trade. At around 9.25 am, Sensex was trading 228.15 points or 0.28 per cent up at 81,590.02 while the Nifty added 55.10 point or 0.22 per cent at 24,848.35 Nifty Bank was up 102.35 points or 0.18 per cent at 55,679.80 The Nifty Midcap 100 index was trading at 57,143.10 after dropping 16.85 points or 0.03 per cent. Nifty Smallcap 100 index was at 17,950.60 after declining 62.50 points or 0.35 per cent. According to analysts, Nifty, which has been trading within the 24,500-25,000 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. "There is uncertainty on this. 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 of Geojit Investments Limited. Meanwhile, in the Sensex pack, Bajaj Finserv, UltraTech Cement, M&M, Eternal, SBI, Axis Bank and Sun Pharma were the top gainers. Whereas, IndusInd Bank, Bajaj Finance, Tech Mahindra, Kotak Mahindra Bank and PowerGrid were the top losers. The foreign institutional investors (FIIs) extended their buying on the third consecutive day on June 19 as they bought equities worth Rs 934.62 crore. On the other hand, domestic institutional investors (DIIs) also extended their buying as they bought equities of Rs 605.97 crore on the same day. In the Asian markets, Bangkok, Japan, Seoul, Hong Kong and China were trading in green, while only Jakarta was trading in red. The US stock market was closed on Thursday in observance of Juneteenth National Independence Day. In the last trading session on Wednesday, Dow Jones in the US closed at 42,171.66, down 44.14 points, or 0.10 per cent. The S&P 500 ended with a loss of 1.85 points, or 0.03 per cent, at 5,980.87 and the Nasdaq closed at 19,546.27, up 25.18 points, or 0.13 per cent.
Economic Times
11 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)
