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Reliance, metal stocks power Nifty 50 to its best week in three months
VCCircle
·
5m ago
Medial
India's benchmark index Nifty 50 recorded its best week in three months, driven by Reliance Industries and metal stocks amid bargain buying after recent losses. The Nifty rose 1.9% this week, buoyed by market recovery signals and optimism from U.S.-Mexico and Canada trade tariff suspensions. Reliance saw a significant rebound, gaining 4.1%, as global brokers upgraded its valuation. Metals also surged on China's stimulus hopes, despite ongoing market uncertainties.
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Profit booking drags Sensex, Nifty below flatline, snaps record streak
VCCircle
·
11m ago
Medial
Indian shares closed marginally lower on Friday as investors took profits after a week of record-high gains. The Nifty 50 ended down 0.07% and the BSE Sensex dropped 0.3%. Financial stocks, which had risen since the US rate cut, fell nearly 1%. IT companies, on the other hand, rose after US-listed Accenture posted strong quarterly earnings. Metal stocks gained over 7% during the week, thanks to strong metal prices and hopes for Chinese stimulus measures. Ten of the 13 major sectoral indexes had weekly gains.
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Reliance, financials push Sensex, Nifty to record highs ahead of election results
VCCircle
·
1y ago
Medial
Indian shares surged to record highs on Monday, driven by financials, Reliance Industries, and energy stocks, following exit polls projecting a third term for Prime Minister Narendra Modi's government in the recently concluded general elections. The Nifty 50 rose 3.25% to 23,263.90 points, and the Sensex added 3.39% to 76,468.78, with both indexes marking their best session in 40 months. Financials and state-owned lenders experienced the highest gains, while energy and oil & gas sectors also performed well. The official election results are due on June 4.
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Retail investors' favourite stocks that turned multibaggers in FY24
Money Control
·
1y ago
Medial
Indian equities had a remarkable year in 2023-24, with the NSE Nifty 50 index rising 30% and midcap and smallcap indices surging up to 70%. Several stocks, particularly those with a large retail investor base, experienced significant gains and even doubled in value during the year. Among the top-performing stocks were IRFC (435% rise), Suzlon Energy (412% rise), and Zomato (258% rise). Other notable gainers included Reliance Power, Jaiprakash Power Ventures, Punjab National Bank, Tata Motors, Vodafone Idea, Indian Oil Corp, and Tata Power Co Ltd.
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Taking Stock: Markets break 3-day losing streak to hit record high
Money Control
·
11m ago
Medial
Indian markets rallied to a new all-time high after a three-day losing streak. The Nifty closed near 25,400, supported by banking, metal, and energy sectors. The Sensex climbed 0.12% to 82,988.78, and the Nifty rose 0.11% to 25,383.75. However, gains were eroded throughout the day, with buying at lower levels leading to a positive close. Sectoral indices such as banks, capital goods, power, realty, media, and metals ended higher. Meanwhile, smallcap stocks increased by 0.3%, with the BSE midcap index remaining flat.
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Nifty 50 closes at new high, records longest weekly rising streak of 2024
VCCircle
·
1y ago
Medial
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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Sensex, Nifty end higher for second straight week, propelled by gain in financial stocks
VCCircle
·
1y ago
Medial
Indian shares had a positive week, with the Nifty 50 index reaching record highs on all five days due to a rise in financial stocks. Despite a slight dip on Friday, the Nifty 50 and BSE Sensex gained 0.78% and 1% respectively for the week. The strong performance is attributed to factors such as strong corporate profitability and robust domestic inflows. Financial and consumer stocks performed well, while IT stocks saw losses. The rally is expected to continue leading up to the general elections in India later this year.
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Sensex, Nifty 50 rise as Reliance results, foreign inflows boost sentiment
VCCircle
·
4m ago
Medial
Sensex and Nifty 50 rose on a Monday, driven by strong earnings from Reliance Industries and consistent foreign inflows, despite India-Pakistan tensions. The Nifty 50 added 1.2%, while the BSE Sensex gained 1.27%. Reliance Industries surged by 5.26% after exceeding profit expectations. Foreign portfolio investors have maintained their investment streak, supporting market sentiment. Additionally, the prospect of a U.S.-India trade agreement and interest in large-cap stocks, like Reliance, bolstered the market.
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Sensex, Nifty end at 3-week low as financials, IT fall in run-up to election outcome
VCCircle
·
1y ago
Medial
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.
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How RIL, HDFC Bank and ICICI Bank may drive Monday's market move? Anand James shares insights
Economic Times
·
1m ago
Medial
Anand James from Geojit Financial Services suggests that upcoming heavyweight earnings, particularly from Reliance Industries, HDFC Bank, and ICICI Bank, will heavily influence Monday’s market movements. While Reliance might stabilize the market, HDFC Bank shows technical weakness. The Nifty index, having breached its 50-day SMA, appears vulnerable but may find support from Reliance. Bank Nifty shows potential for a bounce despite recent pressures, with technical indicators hinting at a possible short-term pullback in banking stocks.
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Nifty poised to hit 24,700 next week? 3 top stock picks for short-term gains by Jigar Patel of Anand Rathi
Money Control
·
55y ago
Medial
The Nifty 50 experienced a drop in sentiment due to various factors but managed to recover strongly, closing comfortably above the 24,500 mark for the week. The index is expected to test resistance levels at 24,700 and 25,000 in the coming week, while a close below 24,100 could signal a bearish trend. The Nifty Bank index also rebounded and could potentially see a breakout from a falling wedge pattern with an upside target of 52,000. Three stocks – Nestle India, Macrotech Developers, and Bajaj Finance – are recommended for short-term buying opportunities based on technical analysis.
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