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Mumbai: Indian stock markets rallied on Monday after the <keyword id="20032950" type="General" weightage="20" keywordseo="BJP-led-government" source="keywords">BJP-led government</keyword> secured a majority in the latest state elections in Maharashtra. The <keyword id="20641216" type="General" weightage="100" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> index gained more than 1.45 per cent or 346.30 points to open at 24,253.55 points, while the BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> index surged 1,076 points or 1.36 percent to open at 80,193.47 points. Experts noted that the election results have an impact on the markets today, and if past trends are followed, the markets may witness some rally amid the return of the BJP in the Maharashtra state elections. <keyword id="20161891" type="General" weightage="20" keywordseo="Ajay-Bagga" source="keywords">Ajay Bagga</keyword> Banking and Market Expert stated that "The just concluded elections in Maharashtra, the results of which were declared on November 23rd, will have a positive immediate impact on the stock markets. The landslide win for the BJP lead coalition in the Maharashtra state elections could lead to a short-term boost to the Indian stock markets which have been in a declining mode" He further added "Investors will interpret this mandate as favourable for the capex and infrastructure push that is ongoing in Maharashtra. The beneficiary sectors of this election are industrials, infrastructure, manufacturing, real estate and financials". In the sectoral indices on the National Stock Exchange, <keyword id="20065014" type="General" weightage="20" keywordseo="Nifty-Realty" source="keywords">Nifty Realty</keyword> and <keyword id="19941314" type="General" weightage="20" keywordseo="Nifty-PSU-Bank" source="keywords">Nifty PSU Bank</keyword> rallied with a surge of more than 2 percent, while other major indices also gained more than 1.5 per cent, including Nifty Metal, Nifty Media, and Nifty Oil &amp; Gas. In the Nifty 50 list, 49 stocks gained during the opening session, while only one stock declined. Shri Finance opened as the top gainer in the Nifty 50. The shares of the AdGroup also surged around 2 percent at the time of filing this report. <keyword id="19967296" type="General" weightage="20" keywordseo="Adani-Green" source="keywords">Adani Green</keyword> also climbed around 4 percent. "We are most likely to break the falling 20-day average that lies at 24,030, which will be the first time that'd happen since the record high of 27th September. Seasonality trends between now and the end of the year have been historically positive, with the Nifty rising 80% of the time during this period with an average return of over 4 per cent" Akshay Chinchalkar, Head of Research, Axis Securities. In other Asian markets, Japan and South Korea indices rallied. The Nikkei 225 index surged more than 1.5 percent, South Korea's Kospi also rose by 1.5 percent, Taiwan's Weighted Index was up by 0.48 percent, while Hong Kong's Hang Seng index was down marginally by 0.14 percent at the time of filing this report.

Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

Indian companies across multiple sectors have reported disappointing results in the second quarter of fiscal year 2025, notes a new JM Financials report. Consequently, their poor performance has triggered stock price corrections for affected companies. The brunt of this weaker than expected earnings was largely borne by consumer centric sectors like FMCG (fast moving consumer goods), retail, and auto, which slacked largely due to dampened urban demand. For instance, India's largest automaker, Maruti Suzuki, reported a 5% YoY decline in its total domestic passenger vehicle wholesales, largely on the back of pent-up inventory. Similarly, Honda reported a staggering 23% YoY dip in its total sales during October 2024. A recent report by Bernstein noted that around 48% of the companies listed on the NSE100 index missed their earnings estimate for Q2FY25, the highest since March 2020. Most companies have mentioned deteriorated domestic demand, urban slowing, macroeconomic risk, and margin pressures as the main reasons behind the dip. "The quarter's earnings have made investors nervous," noted the JM Financials report. The challenging environment stems from multiple factors: softening consumer demand, rising input costs, and companies' limited ability to increase prices. Moreover, this is not limited to just one quarter. Companies have been reporting weak, single-digit earnings growth for the last six consecutive quarters. Data from India Data Hub also suggests that corporate profits of listed companies plunged by as much as 3.4% during the quarter ended September 30, 2024. This is in stark contrast to the year-ago period, where they had shot up by over 40% The oil and gas sector had a difficult quarter, with refiners hit by weak margins and city gas distributors struggling with higher input costs. Financial institutions showed mixed results. While government-owned banks reported strong numbers, microfinance institutions and some private lenders faced massive difficulties with their unsecured loans. Most notable amongst this was the case of IndusInd Bank, which saw its net profits dip by 40% amidst burgeoning provisions, which climbed 87% to Rs 1,820 crore in Q2, as against Rs 974 crore reported in the year-ago period. <h2>Markets head southwards</h2>The selling trend by FPIs has dragged down the major Indian indices, the Nifty 50 and Sensex, both of which have dropped by around 8% since the beginning of this selling spree in October. According to National Securities Depository Ltd. (NSDL) data, FPIs offloaded equities worth a significant Rs 19,994 crore in just the first five trading sessions of November last week. The impact is clearly visible on Indian stock markets. Data suggests that while every sector in October closed the month in red, auto, oil and gas, and consumer durables were the most badly hit, each declining by as much as 10% during the month. Another indicator underlining the inherent weakness of the market was that the month saw only 242 stocks hit their 52-week high, significantly below the usual monthly average of 310.

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

Both Sensex and Nifty closed the day in red, w<keyword id="19989715" type="General" weightage="20" keywordseo="IT" source="keywords">it</keyword>h Nifty hitting an intra-day low of 24,074.20 points. It closed 0.12% down at 24,479.05 points, while Sensex also closed in red, down by 0.09% at 80,429.04 points. All broad market indices ended the day in red, with India VIX down by as much as 17%. As for sectoral indices, financial services was down by 1.37%, while FMCG (up by 2.68%), <keyword id="19936673" type="General" weightage="20" keywordseo="Media" source="keywords">media</keyword> (up by 1.16%) and consumer durables (up by 2.11%) closed the day in green. <keyword id="20304716" type="General" weightage="20" keywordseo="Realty" source="keywords">Realty</keyword> took a significant hit during the day and closed 2.29% down, on the back of long-term indexation benefits stripped off assets like real estate and gold. Oil and gas was down by 1.20%, while PSU banks were down by 1.4%. Titan (up by 6.56%), ITC (up by 6.52%), Tata Consumers (up by 4.42%) NTPC (up by 2.78%) and Adani Ports (up by 2.77%) were amongst the top gainers during the day. On the other hand, Larsen and Toubro (down by 3%), Hindalco (down by 2.97%), Shri Ram Finance (down by 2.79%), Bajaj Finance (down by 2.27%) and ONGC (down by 1.84%) were amongst the leading laggards. Out of the 2,779 stocks traded during the day, 1,177 saw advances while 1,515 saw declines. Another 87 remained unchanged. 85 stocks hit their 52-week high price, while 41 stocks hit their 52-week low as well. 103 stocks hit the upper circuit during trading today, and 150 stocks hit the lower circuit during trading today. Mr. Aditya Gaggar, director of Progressive Shares noted that market participants remained cautious with a positive bias ahead of the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>. "As the budget speech was in progress; a steep fall was seen across the board followed by V-shaped recovery. With a marginal loss of 30.20 points, <keyword id="19925635" type="General" weightage="20" keywordseo="Nifty50" source="keywords">Nifty50</keyword> settled the trade at 24,479.05. The <keyword id="20421583" type="General" weightage="20" keywordseo="FMCG-segment" source="keywords">FMCG segment</keyword> was the top performer of the day by advancing over 2.60% followed by Media and IT while Realty and <keyword id="20830386" type="General" weightage="20" keywordseo="PSU-Banking" source="keywords">PSU Banking</keyword> were the major laggards. Mid and small caps also recovered from the lower levels but not sufficiently to outshine the index. By forming a small red candle with a big lower shadow, the Index has tested and defended its strong support of 24,200. We believe that as long as the Index holds 24,200, the uptrend will remain intact. On the higher side, 24,800 will continue to act as a strong hurdle", he continued. FM Nirmala Sitharaman increased the STT (securities transaction tax) on future and options trading, making them more expensive. The standard deduction limit for new tax regime was increased from the earlier Rs 50,000 to Rs 75,000. Annual exemption limit for long-term capital gains tax was also increased from the previous Rs 1,00,000 to Rs 1,25,000.

Stock market closing: Sensex, Nifty close the day in red, markets recover after initial hiccups

Benchmark indices <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> and Sensex recovered from their losses last week to close in greens on Monday. While Sensex inched up over 690 points to close at 79,476.63 points, Nifty closed the day over the 24k mark, at 24,213.30, up by 217 points. During the day, Sensex had soared 740.89 points, or 0.94%, to touch 79,523.13 points. From the 30-share Sensex pack, JSW Steel surged nearly 5% while Tata Steel jumped nearly 4%. Axis Bank, IndusInd Bank, HDFC Bank, State Bank of India, Kotak Mahindra Bank, and UltraTech Cement were also among the big gainers. On the other hand, Tech Mahindra, Lupin, Britannia, and Infosys were among the major laggards on Sensex. On Nifty, where 39 stocks advanced during the day and the remaining 11 saw declines, Tata Steel, Hindalco, and JSW Steel were among the top gainers. Adani Ports, ITC, Bharti Airtel, and Asian Paints were among the leading laggards. In Asian markets, Tokyo, Shanghai, and Hong Kong settled in the positive territory, while Seoul ended lower. Yesterday, the BSE benchmark tumbled 941.88 points, or 1.18%, to settle at 78,782.24, the lowest closing level since August 6. The Nifty had also tanked 309 points, or 1.27%, to close at 23,995.35. Foreign Institutional Investors (FIIs) continued with their hefty exodus, offloading equities worth Rs 4,329.79 crore today, according to exchange data. So far in November, DIIs (domestic institutional investors) have put in Rs 2,558.75 crore in Indian markets. Global oil benchmark Brent crude climbed 0.60% to $75.53 a barrel today. <h2>Banks, metals lead the party</h2> Aditya Gaggar, Director of Progressive Shares, explains that while bears dominated the first half of trading session by dragging the index lower; it was the banking counters that led to a sharp up move and pushed the index higher from its previous session's low. The Metal stocks also joined the party and pushed the index further higher to end the session at 24,213.30 with gains of 217.95 points. Mid and smallcaps also advanced but underperformed the frontline index", he added. Today's rally was largely led by banking scrips. The BSE Bankex jumped a staggering 1,218.58 points during the day. On NSE, both banks and financial services indices inched up by 1.94% and 1.98% respectively during the day. While PSU bank counters were up by 1.84%, private banks surged ahead with a 1.94% growth during the day. Metals were amidst the highest gainers, rising 2.84% during the day. All broad market indices closed the day in green, except for India VIX, which tumbled 4.08%.

Sensex, and Nifty rebound to greens, metals and banks lead the rally on bourses today

Both indices, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> closed the day in the green. While Nifty closed the day up by 0.35%, trading at 24,586.70, Sensex inched up 145 points to close at 80,664.86 points. ONGC (up by 5.18%), SBI Life (up by 2.95%), <keyword id="22163816" type="General" weightage="20" keywordseo="shri-ram-finance" source="keywords">Shri Ram Finance</keyword> (up by 2.88%), State Bank of India (up by 2.71%) and Bajaj Auto (up by 2.58%) were amongst the leading gainers of the day. On the other hand, LTI Mindtree (down by 1.63%), Asian Paints (down by 1.34%), <keyword id="20668233" type="General" weightage="20" keywordseo="grasim" source="keywords">Grasim</keyword> (down by 1.33%), Tata Steel (down by 0.94%) and Axis Bank (down by 0.67%) were amidst the leading laggards. All broad market indices <a href="https://www.businessinsider.in/stock-market/news/stock-market-15th-july-hcl-tech-shri-ram-finance-take-lead-in-early-trade-as-nifty-sensex-open-in-green/articleshow/111743272.cms" data-type="tilCustomLink">closed</a> the day in green, with <keyword id="158701" type="General" weightage="20" keywordseo="India-VIX" source="Orion">India VIX</keyword> inching up by over 3% during the day's close. As for sectoral indices, <keyword id="6354185" type="General" weightage="20" keywordseo="IT" source="Orion">IT</keyword> was down by 0.29%, while Auto (up by 1.09%), Media (up by 1.53%), PSU bank (up by 3.07%), <keyword id="20304716" type="General" weightage="20" keywordseo="realty" source="keywords">Realty</keyword> (up by 1,34%) and Healthcare (up by 1.28%) closed the day in green. Out of the 2,835 stocks traded during the day, 1,499 saw advances while 1,254 stocks saw declines. 20 stocks hit their 52-week high, while 20 stocks also hit their 52-week low price. 115 stocks hit the upper circuit during the day, while 92 stocks hit the lower circuit as well. <keyword id="19958660" type="General" weightage="20" keywordseo="shrikant-chouhan" source="keywords">Shrikant Chouhan</keyword>, Head Equity Research, Kotak Securities notes that the benchmark indices continued positive momentum, the nifty ends 85 points higher while the Sensex was up by 145 points. Among Sectors, <keyword id="20072633" type="General" weightage="20" keywordseo="PSU-banks" source="keywords">PSU Banks</keyword> index outperformed rallied over 3% whereas selective IT stocks witnessed intraday profit booking at higher levels. "Technically, after a gap up opening, market held the positive momentum throughout the day. Breakout continuation formation on intraday charts indicating further uptrend from the current levels.For the trend following traders now, 24,500/80,500 would be the key support level. Above the same, the market could continue uptrend momentum till 24,650-24,700/81,000-81,200. On the flip side, below 24,500/80,500 uptrend would be vulnerable", he continued. Aditya Gaggar, director of Progressive Shares, defines the day's trade as lackluster. "Barring IT, all other sectors ended the day in green with PSU bank being the top gainer followed by media. Mid and small caps advanced over 0.50% and outperformed the frontline index. The downside seems to be protected at 24,400 while on the higher side level of 24,740 will serve as an immediate hurdle", he notes.

Stock market closing: Sensex, Nifty close the day in green, PSU banks soar by over 3%

After a prolonged selloff and logging a one-year low last week, Indian stock indices showed a promising rebound on Monday, driven by <keyword id="20262950" type="General" weightage="20" keywordseo="value-buying" source="keywords">value buying</keyword> from investors. The <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> closed at 80,081.30 points, gaining 679 points, while the <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> surged by 186.55 points to close at 24,367.35. All Nifty sectoral indices moved into positive territory, with the PSU bank index leading the rally at a 3.8% gain. Last week saw significant dips in Indian equities, with the Nifty 50 and Sensex shedding 2.7% and 2.2%, respectively. Additionally, the Nifty corrected by approximately 8.3% from its recent high, while mid-cap and small-cap indices faced steeper corrections of 9-10%. <keyword id="20015748" type="General" weightage="20" keywordseo="foreign-portfolio-investors" source="keywords">Foreign portfolio investors</keyword> (FPIs) have also been net sellers throughout October, pulling out a substantial ₹85,790 crore, following four months of consistent inflows that previously supported the market’s bullish phase. Market experts, however, indicate that <keyword id="21807786" type="General" weightage="20" keywordseo="geopolitical-factors" source="keywords">geopolitical factors</keyword> and macroeconomic uncertainties will continue to influence Indian equities in the near term. “The imminent U.S. presidential elections and associated uncertainty will continue to weigh on markets,” noted V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Nonetheless, positive developments, including strong quarterly results from banks and a decline in <keyword id="21259231" type="General" weightage="20" keywordseo="global-oil-prices" source="keywords">global oil prices</keyword> due to anticipated ease in Middle East retaliations, have boosted investor sentiment. “The <keyword id="21953705" type="General" weightage="20" keywordseo="market-rebound" source="keywords">market rebound</keyword> this week was supported by positive <keyword id="22342488" type="General" weightage="20" keywordseo="banking-results" source="keywords">banking results</keyword> and declining oil prices,” commented Vinod Nair, Head of Research at Geojit Financial Services. He added that the broader market’s stability would depend on stronger <keyword id="20052796" type="General" weightage="20" keywordseo="corporate-earnings" source="keywords">corporate earnings</keyword> and companies with low leverage and solid growth prospects, which are expected to outperform when the market stabilises. While global markets have remained steady in October, the MSCI India Index dropped around 8% from its late-September peak, signalling ongoing caution among investors, as observed by Jitendra Gohil, Chief Investment Strategist at Kotak Alternate Asset Managers.

Stock market rebounds after one-year low; Sensex and Nifty regain ground amid value buying

Bloodbath on the D-Street entered its fifth straight day today, with <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> dipping by 218 points to close the day at 24,180.80, much below the 25,000-mark. <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> also dropped a massive 662 points to close the week at 79,402.29 points. Notably, this was the worst weekly run experienced by the markets over the last 14 months. Clearly, the markets are not in the mood to embrace the impending festivities. Only 12 out of 50 stocks on the Nifty50 advanced today, while the other 38 declined. It was no different on the BSE, where an astounding 3,101 stocks slipped during the day, while just 841 inched up. Smallcaps bore the biggest brunt of this drawdown, with the smallcap 100, 50, 250, and microcaps each sliding by over 2% during the day. Amidst sectors, media, metal, PSU banks, consumer durables, and oil and gas skidded over 2% each today. Gaurav Garg, Research Analyst at Lemonn Markets Desk, explains that on a weekly basis, benchmarks had recorded five consecutive daily losses. Markets appear oversold, with RSI (Relative Strength Index) falling to 27 levels, its lowest in more than a year. Persistent foreign outflows with a record ~97000 crores so far in October, along with disappointing <keyword id="23378466" type="General" weightage="20" keywordseo="Q2-earnings" source="keywords">Q2 earnings</keyword>, have led to sharp valuation corrections in stocks with high multiples as investors adjust their expectations for future growth. Per media reports, investors saw their wealth diminish by a massive Rs 6.80 lakh crore today, largely due to a sharp, 18% dip in the shares of <keyword id="19901053" type="General" weightage="20" keywordseo="IndusInd-Bank" source="keywords">IndusInd Bank</keyword> and uncontrolled exodus of <keyword id="19900795" type="General" weightage="20" keywordseo="foreign-investors" source="keywords">foreign investors</keyword>. Reportedly, IndusInd Bank reported a 40% decline in its net profits for the quarter ended September 30, 2024. "Another major factor contributing to this dip is disappointing earnings reports from Indian companies, especially in the consumption sector, which signal an economic slowdown, particularly in urban consumption," Santosh Meena, Head of Research at Swastika Investmart, said. Mahindra &amp; Mahindra, Larsen &amp; Toubro, NTPC, Adani Ports, Tata Steel, Maruti, Bajaj Finance and Titan were also among the laggards. "Markets continued its downward trajectory as a broader selloff pulled down key benchmarks with Sensex ending below the crucial 80k mark. The dismal Q2 earnings so far has aggravated the investors' woes while persistent <keyword id="21360658" type="General" weightage="20" keywordseo="FII-selling" source="keywords">FII selling</keyword> continued to create havoc in the market," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. On October 24, 2024, i.e. yesterday, foreign investors offloaded a massive Rs 5,062.45 worth of equities, while domestic investors remained net buyers, purchasing around Rs 3,620.47 crore worth of shares. Thus far in October, foreign investors have pulled out a record Rs 97,205.42 crore from Indian markets. Shrikant Chouhan, Head Equity Research, Kotak Securities expects that the "market sentiment will continue to be weighed down by weaker-than-expected Q2FY25 earnings prints and continued weak commentary. FPI flows are expected to remain volatile in the days to come". "Indian equity markets corrected sharply this week as FII continued with selling in Indian markets. Benchmark indices (Nifty 50 and Sensex 30) declined between 2-3% this week. The midcap and the <keyword id="20187540" type="General" weightage="20" keywordseo="smallcap-stocks" source="keywords">smallcap stocks</keyword> witnessed selling pressure. As a result, the BSE Midcap and the BSE Smallcap indices underperformed the larger peers and were down between 5-8% on a weekly basis. All the sectoral indices ended the week in the red with multiple indices seeing a weekly fall in excess of 6%", added Chouhan Per Chouhan, in the coming weeks, key events that will determine the market's course of action include the US elections and the US FOMC meet. Stock specific action will continue based on Q2FY25 financial performance and management commentary. Garg also anticipates that in the near term, the markets will trade rangebound. Market veteran Raamdeo Agrawal, who heads Motilal Oswal Financial Services, called the ongoing <keyword id="22528556" type="General" weightage="20" keywordseo="market-downturn" source="keywords">market downturn</keyword> the "healthiest possible correction".

Massacre continues on Sensex and Nifty as foreign investors withdraw Rs 97,205.42 crore in October

Both <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> registered significant gains before closing for the week. While Sensex inched up about 820 points to close at 79,705.91 points, Nifty closed at 24,355.75, up by 0.99% on August 9th, 2024. <keyword id="20023885" type="General" weightage="20" keywordseo="Eicher-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Eicher Motors" meta.hostid="261" meta.entityid="Eicher Motors">Eicher Motors</keyword> (up by 4.8%), <keyword id="22163816" type="General" weightage="20" keywordseo="Shri-Ram-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Shri Ram Finance" meta.hostid="261" meta.entityid="Shri Ram Finance">Shri Ram Finance</keyword> (up by 2.95%), <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> (up by 2.91%), <keyword id="20668233" type="General" weightage="20" keywordseo="Grasim" source="keywords" meta.keywordsubtype="org" meta.entityname="Grasim" meta.hostid="261" meta.entityid="Grasim">Grasim</keyword> (up by 2.63%), and HCL Tech (up by 2.59%) were amongst the top gainers of the day, while HDFC Life (down by 0.37%), Asian Paints (down by 0.19%), Hindustan Unilever (down by 0.15%), Cipla (down by 0.06%) and ITC (down by 0.04%) were amongst the leading laggards. All broad market indices closed the day in green, with Nifty 50, Next 50, 100, 200 and microcap 250 gaining over 1% each, while India VIX dipped by 7.45%. Amongst sectoral indices, auto, IT, media, PSU, realty and oil and gas indices raked in gains of over 1% each to close the week in green. Out of the 2,780 stocks traded during the day, 1,658 stocks saw declines, 1,028 declined while 94 remained unchanged. 122 stocks hit their 52-week high price, while 29 stocks also hit their 52-week low price. 127 stocks managed to stay in the upper circuit today, or the highest permissible trading price during a single trading session, while 44 hit the lower circuit. Amol Athawale, VP-technical Research, <keyword id="19958661" type="General" weightage="20" keywordseo="Kotak-Securities" source="keywords" meta.keywordsubtype="org" meta.entityname="Kotak Securities" meta.hostid="261" meta.entityid="Kotak Securities">Kotak Securities</keyword> notes that during the week, market slipped below 20 day SMA (Simple Moving Average), but in the second half of the week it trimmed some losses and eventually closed at 24,367/79,722. Technically, the larger texture of the market is still in to the weak side. "However, as long as it is trading above 24,200/79,200, the pullback formation is likely to continue up to 20 day SMA or 24,525/80,400. Further upside may also continue which could lift the market till 24,625/80,800. On the other side, dismissal of 24,200/79,200 could accelerate the selling pressure below which it could slip till 24,000/78,700 or 50 day SMA and 23,850/78,200. For Bank Nifty now, 50,000 would be the immediate reference point for the bulls. Above 50,000, it could bounce back up to 50,800 and 50 day SMA or 51,200. On the flip side, below 50,000 uptrend would be vulnerable", he continued. Shrikant Chouhan, Head Equity Research, Kotak Securities explains that the Nifty-50 index and Sensex declined around 1.5% each in the past week, while the mid-cap index lost around 1.3% and small-cap index lost 2% underperforming large-caps. "Market focus has swiftly moved on from the Union Budget, unveiled in the week, to the ongoing QFY25 earnings season and global factors. The market performance was impacted by a confluence of global factors, such as (1) a sharper-than-expected weakening of the US labor markets, (2) a sharp appreciation of USD-JPY, resulting in the unwinding of Yen carry trades globally and (3) increase in geo-political tensions in the Middle East", he said. "Sectoral indices were largely negative a week-on week basis except for Nifty FMCG, pharma and media. Sectoral indices like capital goods, consumer durable, auto, metal, reality, power and oil and gas list between 1 to 3%. While Bank Nifty was also weak falling around 1.5% during the week. Within the Nifty Index, Cipla (+3.1%), Eicher Motors (+2.4%) and JSW Steel (+1.6%) gained the most, while Titan (-4.4%), Hindalco (-4.3%) and Asian Paints (-4.3%) lost the most. Going forward, D-street will focus on the macro trends, inflation and global situation including geo-political concerns", continued Chouhan.

Stock market closing: Sensex inches 800 points up to close at 79,705.91, auto, IT, PSU bank indices rally

Mumbai (Maharashtra) [India], June 11 (ANI): The <keyword id="6357440" type="General" weightage="100" keywordseo="stock-market" source="Orion">stock market</keyword> closed flat on Tuesday amid volatility. The benchmark index, <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword>, ended 33.48 points lower at 76,456.59, while the <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> inched up by 5.65 points to close at 23,264.85. Despite the lacklustre overall market performance, the Construction, Automobile, and Public Sector Undertaking (PSU) banks sectors were the standout performers. Throughout the trading day, the Sensex and Nifty displayed mixed signals, with the benchmark indices maintaining steady gains during intra-day trading. This movement was predominantly fuelled by robust performances from Larsen &amp; Toubro (L&amp;T) and key automobile stocks such as Tata Motors and Maruti. The resilience in these sectors provided a cushion against the broader <keyword id="20152750" type="General" weightage="20" keywordseo="market-volatility" source="keywords">market volatility</keyword>. The broader market indices outshined the benchmarks, with the BSE SmallCap index advancing by 1.08 per cent and the BSE MidCap climbing by 0.81 per cent. These gains indicate strong investor confidence in smaller and mid-sized companies, even amidst an overall uncertain market environment. Among the Nifty companies, there were 28 advancing stocks and 22 declining ones at the close of the trading session. The top gainers included Oil and Natural Gas Corporation (ONGC), Tata Motors, L&amp;T, AdPorts, and Maruti Suzuki. These companies experienced robust buying interest, driven by positive sectoral developments and optimistic market sentiment. Conversely, significant declines were observed in stocks such as Kotak Mahindra Bank, Divi's Laboratories, ITC, Reliance Industries, and Dr. Reddy's Laboratories. These stocks faced selling pressure due to various factors, including sector-specific headwinds and profit booking by investors. Varun Aggarwal, founder and managing director, Profit Idea, said, "Asian markets painted a more somber picture, with the MSCI's broadest index of Asia-Pacific shares outside Japan dipping by 0.5 per cent. Chinese blue-chip stocks, in particular, fell by 1.2 per cent, leading to a decline in the yuan to a seven-month low. This drop underscores growing concerns over China's economic outlook and its impact on regional markets." Investors are closely watching the upcoming U.S. consumer price inflation data and the Federal Reserve's policy decision scheduled for Wednesday. Aggarwal said, "The anticipation of these key economic indicators has kept market participants on edge, with rate futures indicating a reduced expectation of 38 basis points of Federal Reserve easing for the year, down from the previous expectation of 50 basis points." Gold prices remained steady, hovering above one-month lows, as investors awaited further economic data that could influence market sentiment. Meanwhile, oil prices held firm ahead of key supply and demand data releases, with Brent crude futures trading at USD 81.62 a barrel. Tuesday's market session in India was marked by sector-specific performances and broader market resilience amid global economic uncertainties. As investors gear up for critical economic data releases and policy decisions, market volatility is likely to persist in the coming days.

Amid market volatility, Sensex and Nifty close flat; Construction, automobile and PSU banks outperform

The <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">stock market</keyword> closed in the green, with benchmark indices hitting new all-time highs at the end of closing sessions on Monday. The <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> surged by 384.30 points, closing at 84,928.61, while the NSE <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> gained 148.10 points to settle at 25,939.05. Both indices ended the session driven by strong buying in sectors like auto, oil and gas, and <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>. Out of the Nifty 50 companies, 34 stocks advanced, while 16 declined. Bajaj Auto, Mahindra &amp; Mahindra (M&amp;M), ONGC, Hero Motocorp, and SBI Life emerged as the top gainers, contributing significantly to the market's rise. On the flip side, Eicher Motors, ICICI Bank, Divi's Labs, Wipro, and IndusInd Bank were the top losers, experiencing profit booking after recent rallies. The market's bullish momentum was largely influenced by anticipation surrounding the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword>'s (RBI) Monetary Policy Committee (MPC) meeting to be held October 7 to 9 and its decision on the repo rate. As the market gears up for potential rate cuts, India VIX, a volatility index, spiked by more than 9 per cent, also reflecting investor caution. VLA <keyword id="19958748" type="General" weightage="20" keywordseo="ambala" source="keywords">Ambala</keyword>, Co-Founder of Stock Market Today, commented on the session's performance, highlighting the role of macroeconomic factors. "In today's session, the India VIX rose more than 9 per cent as the market awaits the MPC policy and <keyword id="21977342" type="General" weightage="20" keywordseo="repo-rate-cut" source="keywords">REPO rate cut</keyword> decision. Notably, India's fast composite PMI recorded a slightly slower growth in September. This is the slowest rate of growth in 2024 for the manufacturing and service sectors," she said. "According to me, to remain globally competitive, the RBI needs to match the US Fed rate, which will create a significant difference between India's lending growth and the long-term FD rates," she added. Ambala emphasized the importance of the RBI's decision in maintaining India's global competitiveness, particularly in comparison to the US Federal Reserve's rates. She noted that any repo rate cut by the RBI could inject more liquidity into the economy, potentially spurring a bullish trend in the equity market and benefiting asset classes like real estate. "If the RBI chooses a REPO rate cut, it will inject more liquidity into the economy, likely fueling a bullish market trend. On the other hand, account holders could enjoy better returns in asset classes such as the equity market and real estate," she said. "The banking and NBFC sectors are already responding to the potential rate cut, and we may see a decline of 100-200 bps points in the next 1.5 years. Since the market has been resilient, I believe it will adapt quickly to these economic changes," Ambala added. Currently, major indices such as Nifty, Bank Nifty, Financial Services, Mid Cap 100, Mid Cap 150, Next 50, FMCG, Consumption, Metal, Infrastructure, and Auto are trading at all-time highs. Sectors like NBFCs, Realty, Infrastructure, and PSU stocks are expected to remain in focus as potential rate cuts could open up significant opportunities for mid-term investors. The technical indicators show that the broader trend remains bullish, with the Relative Strength Index (RSI) for Nifty standing at 74 on the daily, 75 on the weekly, and 83 on the monthly timeframe. However, Ambala advised investors to approach the market cautiously. "The Nifty index can expect support levels at 25,870 and 25,680 with resistance at 26,050 and 26,130 in the next market session," she stated.

Sensex soars to 84,928, Nifty settles at 25,939 as stock market closes at all-time high

<ul><li>The benchmark <keyword id="19963565" type="General" weightage="20" keywordseo="equity-indices" source="keywords">equity indices</keyword> saw a fresh new high start to Friday's trading session.</li><li>The BSE Sensex climbed 214.40 points to 79,457.58 in the opening trade, while the NSE Nifty 50 opened up 41.40 points at 24,085.90.</li><li>According to provisional data available on the NSE, on June 27, 2024, DII sold shares worth Rs 3.605.93 crore, while FII purchased shares worth Rs 7,658.77 crore.</li></ul>The benchmark equity indices saw a fresh new high start to Friday's trading session. The BSE Sensex climbed 214.40 points, or 0.27 per cent, to 79,457.58 in the opening trade, while the NSE Nifty 50 opened up 41.40 points, or 0.17 per cent, at 24,085.90. The wider indices began trading in a mixed bag. The Bank Nifty index opens at 52,874.95, up barely 63.65 points, or 0.12 per cent, from its opening position. "Indian benchmark indices, Sensex and Nifty 50, are poised to open higher on Friday driven by positive global market cues. The Gift Nifty is indicating an initial premium, trading at approximately 24,200, up by about 105 points from the previous close of Nifty futures," said Varun Aggarwal, MD, Profit Idea. Among the sectoral indices on NSE, Nifty Bank, Financial services, FMCG, IT, Media, Metal, Pharma, Realty, Healthcare, Oil and gas, and consumer durables started in the green territory. According to provisional data available on the NSE, on June 27, 2024, domestic institutional investors (DII) sold shares worth Rs 3.605.93 crore, while foreign institutional investors (FII) purchased shares worth Rs 7,658.77 crore. In Thursday's trading session, both indices achieved new closing highs, with the Sensex climbing 568.93 points to 79,243.18, a gain of 0.72 per cent. Similarly, the Nifty 50 surged 175.70 points to settle at 24,044.50, marking a 0.74 per cent increase. Notably, Nifty 50 displayed a bullish pattern with four consecutive sessions of long bull candles, including a 'three advancing soldiers' pattern earlier in the week, indicating robust upward momentum. "The market sentiment remains positive, bolstered by the impending inclusion of India in the J.P. Morgan GBI-EM Global Series of indices starting June 28. This move is expected to attract substantial foreign inflows estimated between USD 25-30 billion over the next 10 months, gradually increasing India's weightage in the index," Aggarwal added. Internationally, WTI crude prices are trading at USD 82.00, reflecting a modest increase of 0.23%, while Brent crude prices are marginally down at USD 85.45, a decrease of 1.03 per cent. Meanwhile, the US Dollar Index (DXY), which measures the dollar against a basket of foreign currencies, is slightly lower at 105.89, down by 0.15%. In the US, market indices closed mixed on Thursday amid cautious trading ahead of fresh inflation data. The Nasdaq Composite gained 0.30%, closing at 17,858.68, while the S&amp;P 500 and Dow Jones Industrial Average posted modest gains of 0.09% each, closing at 5,482.87 and 39,164.06, respectively. Overall, the Indian markets are positioned optimistically for the near term, contingent upon sustained global economic conditions and investor sentiment. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/allied-blenders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111317150.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/allied-blenders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111317150.cms" target="_blank">Allied Blenders IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-unpacked-scheduled-for-july-10-heres-what-to-expect/articleshow/111286592.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-unpacked-scheduled-for-july-10-heres-what-to-expect/articleshow/111286592.cms" target="_blank">Samsung Galaxy Unpacked scheduled for July 10 – here’s what to expect</a>

Markets surge to record highs: Nifty tops 24,050, Sensex nears 79,500; Media-PSU Bank stocks drive gains

Both <keyword id="20204377" type="General" weightage="20" keywordseo="indices" source="keywords">indices</keyword>, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> opened the day in red. As of 9:30 am, Nifty was down by 0.05% trading at 24,420.30 points, while Sensex was down by 0.15% and was trading at 80,254.37 points as of 9:30 am. All broad market indices opened the day in the green, except for Nifty 50, 100, 200, 500, and midcap and smallcap 50 opened in red. India VIX was up by 1.17%. Amidst sectoral indices, Bank, auto, metal, financial services, PSU, and <keyword id="61519" type="General" weightage="20" keywordseo="Private-banks" source="Orion">private banks</keyword> opened the day in the red. Continuing its momentum from yesterday, <keyword id="6912" type="General" weightage="20" keywordseo="Maruti" source="Orion">Maruti</keyword> opened the day in green and was up by 1.66%. Grasim, Divis Labs, Eicher Motors, and Britannia were the top gainers in early trade this morning. On the other hand, Mahindra and Mahindra, JSW Steel, Axis Bank, Dr. Reddy, and Kotak Bank were among the leading laggards. As Mr. Aditya Gaggar, Director of Progressive Shares, notes, "A strong rally in the auto counters helped the index end on trade at another record level of 24,433 yesterday. The index has breached its previous high convincingly by forming a big green candle and opening the door for further rallying towards the 24,520–24,600 zone. At the same time, 24,340 will be considered strong immediate support. BankNifty oscillates in a well-maintained range of 52,260–52,720; a breakout on either side is a must (mostly on the higher side, considering the strong uptrend). The auto segment ended its consolidation of over 2 weeks with a strong breakout indicating the resumption of its uptrend". "Post the strong breakout, follow-up buying was witnessed in the <keyword id="20421583" type="General" weightage="20" keywordseo="FMCG-segment" source="keywords">FMCG segment</keyword> which boosted our confidence to remain bullish on the sector (ITC is on the verge of a major breakout). Sugar counters regained their momentum and some of them have already given a strong breakout (Andhra Sugar and Dalmia Sugar) and some are at the cusp of a major breakout (Balrampur Chini and Renuka Sugar). We continue to remain positive in the <keyword id="20350923" type="General" weightage="20" keywordseo="Pharma-space" source="keywords">pharma space</keyword>", he continued. Shrikant Chouhan, Head of Equity Research, Kotak Securities noted that among sectors, the auto index gained over 2% while intraday profit booking was witnessed in select IT, oil, and gas stocks. "Currently, 24,300/80,000 would act as a key support zone for trend-following traders. We believe, that as long as the market is trading above it, the bullish sentiment will likely continue. On the higher side, 24,500 -24,600/80,500-80,800 would be the immediate resistance zones for day traders", he said.

You Searched For "psu banks" and got 12 results

Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

ANI

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

Ira Alok Puranik

Stock market closing: Sensex, Nifty close the day in red, markets recover after initial hiccups

Ira Alok Puranik

Sensex, and Nifty rebound to greens, metals and banks lead the rally on bourses today

BI India Bureau

Stock market closing: Sensex, Nifty close the day in green, PSU banks soar by over 3%

Ira Alok Puranik

Stock market rebounds after one-year low; Sensex and Nifty regain ground amid value buying

BI India Bureau

Massacre continues on Sensex and Nifty as foreign investors withdraw Rs 97,205.42 crore in October

Ira Alok Puranik

Stock market closing: Sensex inches 800 points up to close at 79,705.91, auto, IT, PSU bank indices rally

Ira Alok Puranik

Amid market volatility, Sensex and Nifty close flat; Construction, automobile and PSU banks outperform

ANI

Sensex soars to 84,928, Nifty settles at 25,939 as stock market closes at all-time high

ANI

Markets surge to record highs: Nifty tops 24,050, Sensex nears 79,500; Media-PSU Bank stocks drive gains

ANI

Stock Market Today: Maruti, Grasim, and Eicher Motors take lead in early trade

Ira Alok Puranik

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