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Nifty hits fresh high ahead of US CPI, Fed policy outcome; IT stocks lead gains

Money Control

Money Control · 1y ago

Nifty hits fresh high ahead of US CPI, Fed policy outcome; IT stocks lead gains

The Nifty Midcap 100 reached a new record high of 54,094.40, while the Nifty 50 climbed over 150 points to set a fresh lifetime high of 23,441.95. IT and oil & gas stocks led the gains, while FMCG and consumer durables saw declines. The rise in the indices preceded the US CPI data and the Fed policy outcome. Midcap and smallcap stocks are presenting a buy-on-dips opportunity with positive earnings outlook, according to Nirav Karkera, Head of Research at Fisdom. 11 out of the major 13 sectoral indices were in green while Nifty FMCG and Nifty Realty fell slightly.

Related News

Sensex, Nifty end higher, led by IT and financial stocks

VCCircle

VCCircle · 1y ago

Sensex, Nifty end higher, led by IT and financial stocks

Indian shares closed higher on Tuesday, driven by IT and financial stocks, as expectations of an aggressive rate cut by the US Federal Reserve in September boosted sentiment and sparked a global equities rally. The NSE Nifty 50 index rose 0.51% to 24,698.85, and the S&P BSE Sensex settled 0.47% higher at 80,802.86. IT companies saw gains of 0.81% and reached a record high, while financial services and private banks increased by 0.8% to 1.2%. Investors are now waiting for the minutes of the latest Fed policy meeting and Fed Chair Powell's address for further insights.

Sensex, Nifty end lower, volatility index hits a 15-month high

VCCircle

VCCircle · 1y ago

Sensex, Nifty end lower, volatility index hits a 15-month high

Indian shares closed lower on Tuesday as heavyweight financial and auto stocks recorded losses, with market volatility reaching a 15-month high due to ongoing national elections. The Nifty 50 fell 0.62% to 22,302.50 points, while the S&P BSE Sensex dropped 0.52% to 73,511.85. Analysts expect volatility to remain high during the election period, leading some investors to hold back and be cautious. Consumer stocks, however, saw gains on positive corporate earnings, while IT stocks rose on renewed US rate cut expectations. Small- and mid-cap stocks performed poorly, posting their worst session since March 13.

Sensex, Nifty end at 3-week low as financials, IT fall in run-up to election outcome

VCCircle

VCCircle · 1y ago

Sensex, Nifty end at 3-week low as financials, IT fall in run-up to election outcome

Indian stock markets closed at a three-week low as financial stocks and IT stocks declined ahead of the election outcome. The Nifty 50 index fell 0.8% while the Sensex dropped 0.9%. Financial services stocks fell 1.65%, with HDFC Bank losing 1.5%. The election outcome has generated uncertainty among investors, leading to higher volatility. IT stocks, which are sensitive to US interest rate cuts, also declined 1%. Some stocks, however, fared well, such as Hindalco Industries and Paytm, while Prestige Estates Projects recorded a quarterly profit slump.

Nifty, Sensex close near flatline; Bank Nifty hits fresh high of 51,900

Money Control

Money Control · 1y ago

Nifty, Sensex close near flatline; Bank Nifty hits fresh high of 51,900

On June 19, the Indian stock market experienced a choppy and volatile trading session, with Sensex and Nifty ending nearly flat. The Sensex closed up 0.05 percent at 77,337, while the Nifty 50 was down 0.2 percent at 23,521. Banking and IT stocks led the gains in the Nifty 50, while construction and energy stocks declined. Bharti Airtel, Maruti Suzuki, and Titan were among the worst-hit stocks. The volatility index, India VIX, rose nearly 6 percent to 13.7. Investors are now looking forward to the Union Budget in July.

RBI's Rate Cut Sends Market Soaring: Sensex Climbs 700 pts, Nifty Flirts with 25K

OutlookIndia

OutlookIndia · 2m ago

RBI's Rate Cut Sends Market Soaring: Sensex Climbs 700 pts, Nifty Flirts with 25K

The Reserve Bank of India's unexpected 50 basis points rate cut sparked a surge in the stock market, with the Sensex rising nearly 700 points and the Nifty nearing the 25,000 mark. The move shifted the policy stance to 'neutral,' signaling a potential halt in future rate cuts. While banking and realty sectors saw gains, some analysts predict challenges ahead for banking stocks due to margin pressures despite expected credit growth.

Indices hit record highs; Sensex above 84,000, Nifty surpasses 25,600

Money Control

Money Control · 11m ago

Indices hit record highs; Sensex above 84,000, Nifty surpasses 25,600

The Indian stock market witnessed a rebound today, with the Sensex and Nifty reaching record highs. The rally was driven by gains in the banking sector, particularly ICICI Bank, HDFC Bank, and Kotak Mahindra. Metal stocks also saw renewed buying interest following target price upgrades by Macquarie and Morgan Stanley. However, IT stocks continued to decline. Investors are now looking ahead to the Reserve Bank of India's upcoming monetary policy for further market direction. The broader market also bounced back, with the BSE Midcap and Smallcap indices gaining 0.5 percent.

Meta climbs and Microsoft falls as Wall Street ticks higher

Economic Times

Economic Times · 7m ago

Meta climbs and Microsoft falls as Wall Street ticks higher

Stocks saw varied performance as profit reports influenced market activity. Meta Platforms rose on better-than-expected profits and AI investment plans, while Microsoft's weaker cloud-business growth led to a decline. The S&P 500 and Nasdaq remained positive with slight gains, whereas the Dow Jones saw a marginal dip. Major airline stocks fell due to an accident involving an American Airlines plane. Meanwhile, the Fed kept interest rates unchanged, signaling stable economic policy amid uncertain economic outlooks.

Fed rate cut lifts Sensex, Nifty to record high

VCCircle

VCCircle · 11m ago

Fed rate cut lifts Sensex, Nifty to record high

Indian shares reached record highs on Thursday as the US Federal Reserve announced a half-percentage point rate reduction, signaling expectations of an increase in foreign inflows to India. The Nifty 50 index gained 0.15% and the S&P BSE Sensex added 0.29%. However, concerns about weaknesses in the US economy could lead to market volatility. IT and pharma stocks initially rose but reversed gains later in the day, while banks, consumer, and real estate stocks all saw positive gains. Small- and mid-cap stocks experienced losses as valuations reduced due to recent rallies.

Sensex, Nifty log highest closing levels in nearly four months

VCCircle

VCCircle · 4m ago

Sensex, Nifty log highest closing levels in nearly four months

India's benchmark indexes, Sensex and Nifty, hit their highest closing levels in nearly four months due to gains in financials after the central bank relaxed deposit buffer rules. Sensex rose 0.24% and Nifty 0.17%, marking their sixth consecutive session of gains. RBI's measures are expected to increase banks' net interest margin and net profit. Meanwhile, bank and consumer stocks saw gains, whereas IT stocks slightly declined. IndusInd Bank dropped due to audit concerns.

Nifty 50 closes at new high, records longest weekly rising streak of 2024

VCCircle

VCCircle · 1y ago

Nifty 50 closes at new high, records longest weekly rising streak of 2024

India's Nifty 50 index reached a new high and recorded its longest weekly rising streak of the year. Energy stocks offset the decline in HDFC Bank, pushing the Nifty 50 to a 0.09% gain, while the S&P BSE Sensex dipped 0.07%. Both indexes settled at record closing highs for the majority of the week, with the Nifty 50 adding 1.2% overall. IT stocks, including Infosys and Tata Consultancy Services, led the gains with a weekly increase of 4.3%, supported by soft US economic data and expectations of a rate cut in September.

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