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  • Market Watch: Top Triggers To Shape Indian Markets This Week

    Market Watch: Top Triggers To Shape Indian Markets This Week


    The movement of the rupee against the dollar and crude oil prices will also remain in focus. (Representative image/Reuters)

    Last week, the 30-share BSE benchmark dipped 58.15 points or 0.09 per cent.

    The domestic equity markets will be driven by ongoing quarterly earnings announcements and global factors this week, analysts said.

    Besides, the trading activity of Foreign Portfolio Investors (FPIs) would also be tracked.

    “In the domestic market, the March 2023 quarterly earnings season and Karnataka assembly elections will be in focus. Asian Paints, Cipla, Eicher Motors, Larsen & Toubro and UPL Q4 earnings are in the pipeline for this week,” Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, said.

    The movement of the rupee against the dollar and crude oil prices will also remain in focus, Gour said.

    “Global markets are in a brittle mode because everyone is eyeing US regional banking systems (small banks), which are in trouble,” he added.

    Also, Apollo Tyres, Indian Overseas Bank and Tata Motors would announce their earnings this week.

    “This week, participants will be eyeing macroeconomic data viz. IIP and CPI for cues on May 12. Besides, the US inflation, which is scheduled on May 10, will also be on their radar,” Ajit Mishra, VP – Technical Research at Religare Broking Ltd, said.

    Last week, the 30-share BSE benchmark dipped 58.15 points or 0.09 per cent.

    Markets declined more than 1 per cent on Friday dragged down by a heavy sell-off in index major HDFC twins. Both HDFC Bank and HDFC fell sharply amid reports that the merged HDFC entity could see significant fund outflow.

    According to market analysts, the domestic market continued to be positive at the beginning of the last week, aided by strong FII inflow and favourable domestic macroeconomic data.

    “India outperformed most markets in April. The principal reason for the outperformance is the sustained buying by FPIs. During the last seven trading sessions i.e. from 26th April to 5th May, FPIs have bought equity worth Rs 11,700 crore,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    Read all the Latest Business News, Tax News and Stock Market Updates here

    (This story has not been edited by News18 staff and is published from a syndicated news agency feed)

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    Namit Singh Sengar

    Namit is Senior Sub Editor in the business vertical of News18.com. With over five years of experience, he covers personal finance, brands and economy.…Read More



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  • Market This Week: Inflation Data, Earnings, Global Trends To Guide Movement; What Analysts Say

    Market This Week: Inflation Data, Earnings, Global Trends To Guide Movement; What Analysts Say


    Investors would also focus on the movement of crude oil prices and the trend in the rupee against the US dollar. (Representative image/Reuters)

    Wholesale Price Index (WPI) inflation data for March would be released on Monday.

    WPI inflation data for March, quarterly earnings, global trends and foreign fund trading activity are major factors that will drive equity markets this week, analysts said.

    Investors would also focus on the movement of crude oil prices and the trend in the rupee against the US dollar.

    Wholesale Price Index (WPI) inflation data for March would be released on Monday.

    “Trend in global markets, domestic and global macroeconomic data, crude oil prices and movement of the rupee against the dollar will dictate the trend this week,” said Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd.

    HCL Technologies, Hindustan Zinc, Tata Coffee and Tata Communications are some of the major firms that will announce their quarterly earnings this week.

    “Focus will be on earnings and global markets for cues. On the earnings front, participants will first react to Infosys and HDFC Bank’s numbers in early trade on Monday,” Ajit Mishra, VP – Technical Research, Religare Broking Ltd, said.

    Largest private sector lender HDFC Bank on Saturday reported a 20.6 per cent jump in its consolidated net profit to Rs 12,594.5 crore for the March 2023 quarter, driven by a healthy core performance.

    Infosys on Thursday reported lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24 amid the tightening of IT budgets by clients following turmoil in the US banking sector.

    In a holiday-shortened last week, the 30-share BSE Sensex climbed 598.03 points or 0.99 per cent.

    Equity markets were closed on Friday on account of Dr. Baba Saheb Ambedkar Jayanti.

    “The sentiment will continue to be driven by the movement of the world markets. The market will be keeping an eye on our Q4 earnings and the commentary will be followed closely,” Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd, said.

    Read all the Latest Business News, Tax News and Stock Market Updates here

    (This story has not been edited by News18 staff and is published from a syndicated news agency feed)

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    Namit Singh Sengar

    Namit is Senior Sub Editor in the business vertical of News18.com. With over five years of experience, he covers personal finance, brands and economy.…Read More



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  • Sensex snaps 5-day losing streak on value-buying; Nifty closes near 17,000 level – Times of India

    Sensex snaps 5-day losing streak on value-buying; Nifty closes near 17,000 level – Times of India



    MUMBAI: The domestic equity market on Thursday snapped the five-day losing streak as the benchmark Sensex recouped its lost ground and closed 78 points higher on fag-end value buying in banking, energy and financial stocks. A positive opening in the European market helped the investor sentiments even as clouds hovered over the health of the global banking system amid Credit Suisse woes and bank failures in the US.
    Halting its five-day losing streak, the 30-share BSE benchmark rose 78.94 points or 0.14 per cent to close at 57,634.84 points, with 17 of its constituents ending in the green. During the session, it touched a high of 57,887.46 points and a low of 57,158.69 points.
    The 50-share NSE Nifty advanced 13.45 points or 0.08 per cent to settle at 16,985.60 points. As many as Nifty 32 stocks closed in the green.
    Equity benchmarks bounced back to end in the positive territory after trading lower for the most part of the volatile session.
    Nestle India was the biggest gainer in the Sensex pack, rising 2.54 per cent, followed by Asian Paints, HUL, Titan, Sun Pharma, SBI, PowerGrid and Bajaj Finserv.
    On the other hand, Tata Steel, IndusInd Bank, Bharti Airtel, Infosys, Wipro, HCL Tech and Reliance were among the losers, slipping up to 3.31 per cent.
    In Asian markets, Shanghai, Tokyo, Hong Kong and Seoul ended with significant losses.
    European stock markets marched higher in early trade on Thursday after embattled lender Credit Suisse announced its plans to boost liquidity.
    Credit Suisse has said that it will borrow funds from the Swiss central bank and buy back about USD 3 billion of its debt to help mitigate the growing crisis around it.
    Major indices on Wall Street settled on a mixed note in the overnight trade.
    Meanwhile, the rupee declined 13 paise to close at 82.78 against the US dollar on Thursday.
    Foreign Portfolio Investors (FPIs) offloaded shares worth Rs 1,271.25 crore on Wednesday, according to exchange data.





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  • Sensex Gains For 3rd Straight Day, Up 123 Points, Nifty Above 17,750; Rupee Weakens 13 Paise

    Sensex Gains For 3rd Straight Day, Up 123 Points, Nifty Above 17,750; Rupee Weakens 13 Paise


    Covering-up of short positions by bears supported the late recovery in stocks, helped wipe off losses.

    Of the 30 shares on the Sensex, 17 companies ended the day in the green, while the remaining 13 were recorded loss

    Rising for the third straight session, the domestic equity market on Wednesday ended the day on a positive note on robust fag-end buying in banking and financial stocks amid a bearish trend in global equity markets. The BSE Sensex gained 123.63 points to settle at 60,348.09, while the NSE Nifty rose 42.95 points to 17,754.40. The rupee, however, weakened by 13 paise to close at 82.05 (provisional) against US dollar.

    Of the 30 shares on the Sensex, 17 companies ended the day in the green, while the remaining 13 were recorded loss. The Sensex had lost over 300 in the early trade in the morning, However, later, it recovered to the green territory with a gain of 123.63 points. The BSE benchmark saw the day’s low of 59,844.82 and the day’s high of 60,402.85.

    Most Asian markets, including Hang Seng and MSCI AC Asia Pacific, witnessed a decline. Equity exchanges in Europe were trading with losses in the afternoon session. The US markets had ended significantly lower in the overnight session.

    Besides, covering-up of short positions by bears supported the late recovery in stocks, helped wipe off losses, according to traders. However, a weak rupee against major rivals overseas weighed on market sentiment and restricted gains, they added.

    On the Sensex, IndusInd Bank was the biggest gainer rising 4.75 per cent, followed by M&M, L&T, NTPC, ITC, Ultra Cement, Tata Steel, Maruti and SBI.

    In contrast, Bajaj Finance, Tech Mahindra, Infosys and Sun Pharma were among the top losers, falling up to 2.30 per cent.

    Vinod Nair, head of (research) at Geojit Financial Services, said, “The global market has fallen back into the grip of uncertainty as the US Fed chief signalled the possibility of a prolonged and faster rate hike, contradicting a dovish comment made by another Fed official last week.”

    He added that the market now anticipates a 50 bps rate hike, which has pushed the dollar index to a three-month high. However, a strong recovery was seen in the domestic market towards the end of the day, which kept the bulls on the move.

    International oil benchmark Brent crude was trading 0.16 per cent lower at $83.16 per barrel. Foreign Institutional Investors (FIIs) were net buyers in capital markets as they bought shares worth Rs 721.37 crore on Monday, according to exchange data.

    The rupee on Wednesday fell 13 paise to close at 82.05 (provisional) against US dollar.

    Read all the Latest Business News here

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    Mohammad Haris

    Haris is a business journalist with over eight years of experience. He writes on various issues related to markets, economy and companies.…Read More



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  • Sensex, Nifty decline in early trade – Times of India

    Sensex, Nifty decline in early trade – Times of India



    MUMBAI: Market benchmarks declined in early trade on Thursday amid a largely weak trend in global equities and continuous foreign fund outflows. The BSE Sensex declined 145.4 points to 59,265.68. The NSE Nifty dipped 47.95 points to 17,402.95.
    From the Sensex pack, Tata Consultancy Services, Infosys, Maruti, Axis Bank, Mahindra & Mahindra, Tech Mahindra, Tata Motors, Nestle, Asian Paints and Bajaj Finance were the major laggards.
    Bajaj Finserv, Larsen & Toubro, Tata Steel and UltraTech Cement were the gainers. In Asian markets, Japan and Hong Kong were trading lower, while China and Seoul were quoting in the green.
    The US markets had ended mostly lower on Wednesday.
    “The major concern for global equity markets continues to be the rising bond yields in the US, which will act as a drag for FII inflows into emerging markets like India. Yesterday the US 10-year bond yield touched 4 per cent. FIIs cannot be expected to turn buyers in this scenario,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
    The BSE benchmark had advanced 448.96 points or 0.76 per cent to settle at 59,411.08 on Wednesday. The Nifty climbed 146.95 points or 0.85 per cent to end at 17,450.90.
    “Bears are seen making a comeback in early trade on Thursday following weak sentiment in American and Asian markets. The negative catalyst is that the 10-year US Treasury note yields have spiked to 4 per cent – the highest in four months.
    “There is a lot of scepticism among the investors on concerns that if interest rates continue to rise due to inflation uptick, the existing slowdown would take a recessionary turn sooner or later,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
    Foreign Portfolio Investors (FPIs) again offloaded shares worth Rs 424.88 crore on Wednesday, according to exchange data.





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  • No Major Domestic Trigger, Focus On Global Trends; Here’s How Analysts See Markets This Week

    No Major Domestic Trigger, Focus On Global Trends; Here’s How Analysts See Markets This Week


    Last Updated: February 19, 2023, 15:00 IST

    Markets may face volatile trends amid derivatives expiry during the week, they added.

    FPIs turned net buyers last week with an investment of over Rs 7,600 crore against net outflows of Rs 3,920 crore in the preceding week (From February 7-12).

    With the third quarter earnings calendar coming to an end and no major domestic trigger in sight, equity investors will focus on global trends and foreign fund movement this week, analysts said.

    Markets may face volatile trends amid derivatives expiry during the week, they added.

    “Global cues and F&O expiry may cause volatility this week. Although FIIs have shown some interest in purchasing over the past few days, there were a few block purchases last week, so their flow will be crucial,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.

    FPIs turned net buyers last week with an investment of over Rs 7,600 crore against net outflows of Rs 3,920 crore in the preceding week (From February 7-12).

    Brent crude oil movement and the trend in the rupee would also be in focus this week.

    “With all major events behind us, the performance of the global markets, especially the US, will be in focus for cues. Besides, crude and rupee movement will continue to offer indications in between,” Ajit Mishra, VP Technical Research, Religare Broking Ltd, said.

    Also Read: What Are Basel III Reforms? Why RBI Wants Boundary Between Bank’s Trading And Banking Books?

    The BSE benchmark last week climbed 319.87 points or 0.52 per cent. “Dominated by the release of key macroeconomic numbers and persistent FII buying, domestic markets witnessed a positive trend during the last week.

    “However, the unfavourable combination of higher-than-expected inflation and a stronger job market in the US market dragged markets lower towards the end of the week, raising concerns about tighter monetary policy,” said Vinod Nair, Head of Research at Geojit Financial Services.

    The lack of major triggers in the domestic market will attract global cues to dictate the market’s trend going forward, Nair added.

    Read all the Latest Business News here

    (This story has not been edited by News18 staff and is published from a syndicated news agency feed)



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  • Markets see volatile trade; Sensex slides 196 points – Times of India

    Markets see volatile trade; Sensex slides 196 points – Times of India



    MUMBAI: Equity market witnessed volatile trading in the morning session on Monday, with benchmark indices Sensex and Nifty shedding their marginal gains amid mixed cues from Asian markets. Starting off the week on shaky note, the 30-share BSE Sensex declined 196.61 points or 0.32 per cent to 60,486.09 points while the NSE Nifty fell 38.50 points or 0.22 per cent to 17,818 points.
    As many as 18 stocks in the Sensex were in the negative territory, with most of the IT shares, including Infosys, Tata Consultancy Services and Wipro slipping in the morning session.
    V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said there is no clear direction in the market.
    “There are both negative and positive signs. The rise in the dollar index to 103.7 and the hardening of bond yields are unfavourable for emerging market equity. Rising yields indicate that rates will remain higher for longer. Also, the spike in Brent crude to around $86 is a macro concern for India,” he said.
    Foreign Portfolio Investors (FPIs) were net buyers on February 10, purchasing shares worth Rs 1,458.02 crore. The reversal in selling by FPIs is a positive for the domestic market.
    Most of the Asian markets, including Japan and Hong Kong were in the red while China was in the positive territory.
    On Friday, the US market closed on a mixed note whereas the European market ended with losses.





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  • Sensex Falls 200 Points And Nifty 50 below 17,800

    Sensex Falls 200 Points And Nifty 50 below 17,800


    Last Updated: February 06, 2023, 09:56 IST

    A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (File photo/Reuters)

    Meanwhile, Asian shares slipped on Monday after a run of upbeat economic data from the United States and globally lessened the risk of recession,

    Sensex Today: Indian equity markets saw a negative start on Monday with Sensex falling 200 points and Nifty 50 below 17,800 in early trade.

    Sensex declined 203.71 points to 60,638.17 in early trade. Nifty slipped 64.05 points to 17,790.

    Rupee declined by 35 paise to 82.43 against US dollar in today’s early trade.

    Last week, Sensex and Nifty rallied over 1 per cent on Friday due to heavy buying in banking and financial counters amid mixed trend in the global markets.

    The 30-share BSE benchmark Sensex zoomed 909.64 points or 1.52 per cent to settle at 60,841.88. During that day, it jumped 973.1 points or 1.62 per cent to 60,905.34.

    From RBI MPC To IIP Data: Top Trends To Drive Market This Week

    Foreign Institutional Investors (FIIs) again offloaded shares on Thursday after a day’s breather. They sold shares worth Rs 3,065.35 crore, according to exchange data.

    Meanwhile, Asian shares slipped on Monday after a run of upbeat economic data from the United States and globally lessened the risk of recession, but also suggested interest rates would have to rise further and stay up for longer, mews agency Reuters reported.

    The dollar extended its rally on the yen to a three-week top of 132.60 on Monday amid reports the Japanese government had offered the job of central bank governor to the current deputy, Masayoshi Amamiya.

    In equity markets, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.5%, with South Korea down 0.6%. Chinese blue chips lost 1.0%.

    Japan’s Nikkei added 1.1%, encouraged by hopes the BOJ would keep policy easy.

    S&P 500 futures and Nasdaq futures eased 0.2% as the stellar January payrolls report forced investors to price in the risk of more hikes from the Federal Reserve, and less chance of cuts later in the year.

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