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India Today
17 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
09-06-2025
- Business
- India Today
Sensex opens 382 points higher, Nifty above 25,100; Axis Bank gains over 1%
Benchmark stock market indices opened higher on Monday, starting the week on a strong note, continuing the recent upward trend. IT and auto sector stocks rallied in early S&P BSE Sensex added 335.02 points to 82,524.01, while the NSE Nifty50 added 114.85 points to 25,117.90 as of 9:28 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that the monetary bazooka fired by the RBI on Friday will keep the market spirits alive in the "But this is not sufficient to sustain the rally triggered on Friday. More important is the trend in earnings growth. Q4 results indicate better earnings growth for midcaps. But large and small caps continue to struggle," he Mahindra Bank led the charge on Sensex, surging 2.49%, followed by Bajaj Finance which jumped 1.26%. Axis Bank also opened strongly, climbing 1.26%, while Infosys rose 1.08%. Tata Motors rounded out the top five gainers with an increase of 1.05%.However, some stocks faced selling pressure as trading commenced. Bharti Airtel was the worst performer in early trade, declining 0.91%, while ICICI Bank retreated 0.54%.Adani Ports and Special Economic Zone also opened lower, falling 0.29%, and Asian Paints dropped 0.26%. Nestle India completed the list of top five losers with a decline of 0.19%.advertisementThe sectoral indices on NSE opened with broad-based gains in early trade. Nifty Midcap 100 rose 0.77% and Nifty Smallcap gained 0.85%. The India VIX jumped 2.40%, showing increased volatility as trading sectors opened in positive territory, showing strong market sentiment. Nifty PSU Bank was the top performer, climbing 1.19%, followed by Nifty IT gaining 1.09% and Nifty Smallcap 100 at 0.85%.Other gainers included Nifty Media rising 0.79%, Nifty Private Bank advancing 0.75%, Nifty Auto up 0.61%, Nifty Financial Services gaining 0.50%, Nifty Consumer Durables rising 0.37%, Nifty Metal advancing 0.31%, Nifty Oil & Gas up 0.26%, Nifty Healthcare gaining 0.25%, Nifty Pharma rising 0.21% and Nifty FMCG up 0.10%.Only one sector opened lower. Nifty Realty declined 0.08%."FY 26 earnings are unlikely to reach mid teens, which is necessary for the market to remain resilient and move up. Market needs signs of revenue and earnings acceleration to move up. In the absence of such indicators the present Nifty range is likely to move up marginally to 24500 -25500," said Vijayakumar.(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
30-05-2025
- Business
- India Today
Sensex opens 150 points lower; Nifty below 24,800; Infosys down over 1%
Benchmark stock market indices opened lower on Friday, dragged down by a fall in information technology (IT) sector shares in early S&P BSE Sensex was down by 45.58 points to 81,587.44, while the NSE Nifty50 added 24.20 points to 24,857.80 as of 9:25 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that stable institutional flows- both FII and DII - are keeping the market steady even in the absence of positive "The ongoing consolidation phase is likely to continue in the near-term. Investors should understand two distinct big trends that will weigh on markets: One, India's macros are strong and improving. Two, this positive trend in macros is not getting reflected in corporate earnings. This is the fundamental reason for the range bound movement of the market," he & Toubro emerged as the top performer on Sensex, surging 0.88% right from the opening bell, followed by Adani Ports and Special Economic Zone which gained 0.88%. Nestle India showed some momentum with a 0.87% advance, while Sun Pharmaceutical Industries and Bajaj Finserv rounded out the top five gainers with rises of 0.56% and 0.54% saw a decline, dropping 1.78% in opening trades. Tech Mahindra was under pressure, falling 1.16%, while HCL Technologies retreated by 0.73%. IndusInd Bank slipped 0.52%, and Mahindra & Mahindra posted a decline of 0.26%.advertisementNifty Midcap100 advanced by 0.30% while Nifty Smallcap100 posted a smaller gain of 0.19%. India VIX dropped sharply by 8.86%.Nifty Realty led the gainers with a rise of 0.29%, followed by Nifty Media climbing 0.25%, Nifty PSU Bank advancing 0.16%, Nifty Pharma gaining 0.09%, Nifty Private Bank up 0.08%, Nifty Auto rising 0.03%, and Nifty Financial Services posting a marginal gain of 0.02%.However, some sectors opened in negative territory with Nifty IT facing the steepest decline of 0.29%, while Nifty Consumer Durables slipped 0.12% and Nifty FMCG dropped marginally by 0.04%."FY25 Nifty earnings growth was a pedestrian 5.5% and the projection for FY26 is around 10%. Valuation multiple of 21 for 10% earnings growth is certainly on the higher side. This will cap the upside to the Nifty until leading indicators suggest a recovery in earnings growth," said Vijayakumar."At the same time, steadily improving macros like resilient GDP growth, down trending inflation and interest rates and declining fiscal and current account deficits lay the foundation for a strong economy and earnings recovery in the medium term. Investors should remain invested and buy quality stocks on dips," 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
