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Stock market today: BSE and NSE shut for Good Friday, Asian stocks gain
Indian stock exchanges remained closed on Friday on account of the Good Friday holiday, halting domestic trading activity for the day. However, several other Asian markets continued their upward march, with key indices registering modest gains amidst relatively quiet global cues. As per ANI, Japan’s benchmark Nikkei 225 advanced by 0.66 per cent, buoyed by continued investor confidence. Similarly, Taiwan’s weighted index edged higher by 0.58 per cent, while South Korea’s KOSPI also saw an uptick of 0.27 per cent at the time of reporting. Apart from these, several other Asian markets remained closed in observance of regional holidays, resulting in subdued activity across the continent. Back in India, even though trading floors are shut for the holiday, a number of corporate earnings are scheduled to be declared today. These include quarterly financial results from companies such as Just Dial, Mastek, Network 18 Media & Investments, Laxmi Goldorna House, Amal, Yaari Digital Integrated Services, Teamo Productions, and Jay Kailash Namkeen. Investors and analysts alike are expected to closely monitor these announcements for insights into sectoral performance and broader market direction. On Thursday, April 17, Indian equities witnessed substantial participation from overseas investors. According to figures reported by ANI, Foreign Institutional Investors (FIIs), also referred to as Foreign Portfolio Investors (FPIs), were net buyers in the cash segment. They purchased shares worth Rs 18,210.41 crore and offloaded holdings to the tune of Rs 13,542.47 crore, thereby resulting in a net inflow of Rs 4,667.94 crore. In contrast, Domestic Institutional Investors (DIIs) were net sellers, with total purchases amounting to Rs 13,773.79 crore against sales worth Rs 15,779.94 crore, leading to a net outflow of Rs 2,006.15 crore. Globally, market signals remained mixed. U.S. stock futures presented a divergent trend—Dow Jones futures plunged sharply by 521 points or 1.32 per cent to 39,148, whereas Nasdaq futures saw a marginal rise of 30 points or 0.17 per cent to 18,287, as per ANI. In Europe, the sentiment was predominantly bearish. France’s CAC futures slipped by 33 points or 0.45 per cent to 7,298. Germany’s DAX futures dropped by 145 points or 0.68 per cent to 21,331, and the U.K.’s FTSE futures declined by 35 points or 0.42 per cent to 8,242. (With inputs from ANI)
18 April,2025 10:51 AM IST | Mumbai | mid-day online correspondent
Stock market today: Sensex and Nifty dip slightly as US tariff tensions loom
Indian equity markets began Wednesday’s trading session on a flat note, as investor sentiment remained cautious due to weak global cues and recent developments surrounding reciprocal tariffs by the United States. At the opening bell, the BSE Sensex was recorded at 76,615.29, a decline of 119.60 points or 0.16 per cent. Similarly, the NSE Nifty opened lower by 36.35 points or 0.16 per cent, standing at 23,292.20, as per ANI reports. Early gainers included Shriram Finance, IndusInd Bank, Apollo Hospitals, Kotak Mahindra Bank, and Axis Bank. In contrast, major laggards in morning trade were Infosys, Maruti Suzuki, Tech Mahindra, Tata Consumer Products, and Cipla. Technical indicators suggest the market may face short-term resistance. Akshay Chinchalkar, Head of Research at Axis Securities, noted that Tuesday’s market movement formed what is referred to as a “hanging man” pattern — typically indicative of slowing upward momentum. “Immediate support lies at 23,207, while the resistance zone is expected between 23,400 and 23,500. Bulls must hold the market above the critical support level of 22,924 to aim for the swing high of 23,870,” Chinchalkar explained. Ajay Bagga, a market and banking expert, stated that Indian indices remain roughly 12 per cent below their record highs witnessed at the end of September. He added that broader market indices have faced an even sharper correction. However, the recent return of foreign portfolio investors (FPIs) as net buyers and continued domestic investment could fuel a robust rally. “Strong FPI inflows in the cash segment gave a lift to all indices, and the Indian Rupee has shown signs of strengthening,” Bagga said. Bagga further added that market participants are closely tracking earnings season and whether FPIs will continue their buying trend. “The markets are waiting for strong cues, especially regarding earnings and potential US-China trade progress,” he told ANI. The recent announcement by the US Commerce Department to launch investigations into pharmaceutical and semiconductor imports—potentially leading to more tariffs—has created further uncertainty. Officials also confirmed that certain tariffs, including a 20 per cent ‘reciprocal’ tax (previously reduced by former President Trump to 10 per cent), as well as levies on cars and metals, would not be immediately lifted. (With inputs from ANI)
16 April,2025 11:56 AM IST | Mumbai | mid-day online correspondent
Stock market today: Nifty climbs 500 points as global cues turn positive
Indian stock markets surged at the opening bell on Tuesday, buoyed by renewed global optimism and growing hopes that trade tensions between the United States and China may ease following recent statements from the US administration. The BSE Sensex soared by 1,679.20 points, or 2.23 per cent, opening at 76,836.46, while the NSE Nifty 50 index leapt 539.80 points, or 2.36 per cent, to start the session at 23,368.35. The bullish sentiment followed signals from Washington suggesting temporary tariff relief, which investors view as a step towards a potential resolution in the long-standing trade dispute. According to ANI, global cues turned significantly positive after US President Donald Trump hinted at further concessions in the ongoing tariff row, particularly in the semiconductor and electronics sectors. Market watchers believe this could be the beginning of a broader détente between the US and China. Ajay Bagga, a banking and market expert, told ANI, “Indian markets are determined to see the positives today. The worst of Trump Tariff Tantrums is perhaps over, at least for 90 days at the worst. Markets will look at earnings and management guidance for clarity through the Trump Policy Uncertainty. India stands out as a strong structural domestic story and should attract some FPI flows once the Trump Policy is crystallised.” As per ANI, the recent move by US customs to temporarily exempt key consumer and industrial electronics – including semiconductors – from tariffs played a crucial role in lifting market sentiment. Although US Commerce Secretary later clarified that the relief is short-term, and Trump confirmed new semiconductor tariffs could be introduced as early as next week, markets still reacted with optimism. On Monday, global equity markets mirrored the positive sentiment. Major indices in Asia, Europe and the US ended higher. Big Tech stocks in the US also rallied sharply, with several gaining over 6 per cent in pre-market trading. In India, the market confidence remained strong despite tight liquidity conditions in March. As per ANI reports, retail investors continued to support equity mutual funds through systematic investment plans (SIPs), with over Rs 25,000 crore invested during the month. While Foreign Institutional Investors (FIIs) were net sellers on 11 April, withdrawing Rs 2,519 crore, Domestic Institutional Investors (DIIs) stepped in with a net investment of Rs 3,759 crore, providing a buffer against foreign outflows. According to ANI, several Indian corporates are expected to announce their March quarter results today. These include ICICI Lombard General Insurance Company, Indian Renewable Energy Development Agency, GM Breweries, MRP Agro, Hathway Bhawani Cabletel and Datacom, and Delta Industrial Resources. Asian markets also reflected the upbeat mood. Taiwan’s weighted index rose over 1.6 per cent, South Korea’s KOSPI advanced 0.79 per cent, Japan’s Nikkei 225 gained 0.88 per cent, and Hong Kong’s Hang Seng inched up by 0.07 per cent. In the US, all three key indices closed in the green on Monday. The Dow Jones rose by 0.78 per cent, NASDAQ by 0.64 per cent, and the S&P 500 by 0.79 per cent. (With inputs from ANI)
15 April,2025 11:02 AM IST | Mumbai | mid-day online correspondent
Indian stock markets closed today for Ambedkar Jayanti
Indian stock markets are closed today in observance of Dr. B.R. Ambedkar Jayanti, marking the birth anniversary of Dr. Bhimrao Ramji Ambedkar, revered as the principal architect of the Indian Constitution and a pioneering social reformer. Born on 14 April 1891, Ambedkar’s legacy is commemorated across the nation with a public holiday, during which banks, government offices, and educational institutions remain shut in his honour, as per ANI reports. While trading remains suspended on this national holiday, markets had concluded the previous week on a notably positive note, rebounding after a period of turbulence earlier in the week. Monday saw a sharp downturn in Indian equities, prompted by global unease following the United States government’s announcement of retaliatory tariffs, which stirred widespread fears of a looming trade war. The already fragile investor sentiment took a further hit after China responded with its own set of retaliatory measures, intensifying concerns across global markets. However, markets regained composure mid-week when the U.S. administration decided to delay the imposition of tariffs for countries other than China. This strategic shift brought some much-needed relief and led to a partial recovery in stock prices globally, including in India. By the end of the week on Friday, benchmark indices posted impressive gains. The BSE Sensex closed at 75,157.26, registering a rise of 1,310.11 points or 1.77 per cent. Meanwhile, the NSE Nifty ended at 22,828.55, up by 429.40 points or 1.92 per cent. Sectoral indices, particularly those representing metals, consumer durables, and oil & gas, emerged as the key drivers of this upward movement, as per ANI. Domestically, investor confidence was bolstered by the Reserve Bank of India’s latest monetary policy announcement. The central bank not only cut interest rates but also signalled a dovish outlook, indicating a willingness to offer additional policy support if necessary. This accommodative stance was welcomed by the markets and played a significant role in offsetting earlier losses. Ajit Mishra, Senior Vice President, Research at Religare Broking, noted that the forthcoming week—though shortened due to the public holiday—will be closely watched for further developments on the U.S.-China trade front. “On the domestic side, focus will shift to corporate earnings, with key results expected from IT giants such as Wipro and Infosys, along with major private banks like HDFC Bank and ICICI Bank,” he stated, according to ANI. (With inputs from ANI)
14 April,2025 10:59 AM IST | Mumbai | mid-day online correspondent
Indian stock markets rebound after Monday’s plunge, Nifty crosses 22,500
Indian stock indices opened on a positive note on Tuesday morning, staging a strong comeback following the steep decline witnessed a day earlier. According to ANI, the benchmark indices surged at the opening bell, with the BSE Sensex climbing 1,193.10 points (1.63 per cent) to touch 74,331.00. The NSE Nifty 50 also jumped 385.50 points (1.74 per cent), crossing the 22,500 mark to reach 22,547.10. As per ANI, all sectoral indices opened in the green, reflecting improved investor confidence after Monday’s market rout, which was largely triggered by the announcement of new tariffs on Indian goods by the Donald Trump-led US administration. The imposition of these reciprocal tariffs sent shockwaves across global financial markets, with Indian indices not spared. Tuesday's gains were led by major players including Titan Company, Tata Steel, Hindalco Industries, Tata Motors, and Shriram Finance on the NSE. On the BSE, the broader Midcap and Smallcap indices also showed strong momentum, rising 2 per cent each. Analysing the market movement, Akshay Chinchalkar, Head of Research at Axis Securities, stated: “The Nifty suffered its biggest fall for the year yesterday, but the over 400-point recovery at close was encouraging for bulls. The rebound resulted in a bullish belt-hold line formation with the 22,572–22,685 area as the next upside hurdle. On the downside, the 22,015–22,130 zone remains critical.” According to ANI, Monday’s market drop mirrored deepening concerns over the future of global trade. The sudden imposition of tariffs by the United States has sparked fears of a wider slowdown in international commerce, which could weigh heavily on corporate earnings and global economic growth. During Monday’s session, the Sensex had plunged as much as 5 per cent in early trade, though it recovered partially to end around 3 per cent lower. The market sentiment, ANI reports, was further impacted by simultaneous declines across Asian and European bourses. Experts warn that the volatility may persist, with investors now closely watching global macroeconomic indicators and the upcoming corporate earnings season for further cues. The broader outlook remains cautious amid uncertainty over the trajectory of global trade policies and inflationary pressures. (With inputs from ANI)
08 April,2025 10:43 AM IST | Mumbai | mid-day online correspondent
Stock market today: Indian markets gain momentum as IT, banking stocks shine
Indian stock markets opened on a positive note on Wednesday, registering marginal gains driven by banking and IT sector stocks. Market participants are keenly awaiting the scheduled announcement of US tariffs later today, a development that is expected to have significant implications for global trade and Indian exporters, according to ANI. At the opening bell, the benchmark indices showed a modest upward movement. The BSE Sensex stood at 76,136.09, marking a gain of 111.58 points or 0.15 per cent, while the NSE Nifty recorded an increase of 30.50 points or 0.13 per cent to reach 23,196.20, as per ANI. According to ANI reports, major gainers at the National Stock Exchange (NSE) included Tata Consumer, Trent, Tech Mahindra, Zomato, and ONGC. Meanwhile, stocks of HUL, HCL Technologies, Dr Reddy’s Laboratories, NTPC, and Reliance Industries were among the major losers during the early trade session. Market expert Ajay Bagga observed that while it is ‘Liberation Day,’ the uncertainty surrounding global trade policies remains intact. “Liberation Day will not liberate the markets from uncertainty, rollbacks, retaliations, and the spectre of a full-blown trade war. T-Day is not victory from uncertainty day,” he remarked. Bagga further stated that the markets have drawn a line in estimating the potential impact of US tariff impositions and are presently adopting a ‘wait and watch’ approach. “India is also set to face 20 per cent tariffs under the US policy and will have to negotiate a phased agreement over the coming months. The damage to Indian exporters has already begun, so further declines should be limited. However, we are not making any risky bets at this stage and are instead conserving capital,” he added, as per ANI. Meanwhile, Akshay Chinchalkar, Head of Research at Axis Securities, shared his technical perspective on the markets, stating, “Yesterday’s drop in the Nifty has weakened the tactical bull case that began at 21,964 but has not negated it entirely. For the day, key support lies within the 23,090 – 23,141 zone, with a possible downside extension in the 22,800 – 22,900 range. This level serves as a long-term threshold between bullish and bearish trends. The 50-day moving average is stabilising near 23,000, making it another crucial support level. Bulls will regain dominance only if the index moves above 23,565.” As per ANI reports, experts believe the market will continue to experience pressure until further clarity emerges regarding the Trump administration’s tariff announcement. The decision is expected to significantly impact trade relations, especially for Indian businesses exporting to the United States. (With inputs from ANI)
02 April,2025 11:08 AM IST | Mumbai | mid-day online correspondent
Sensex climbs 311.90 points, Nifty at 23,751.50 as market rally stays strong
Indian equity markets extended their rally for the seventh consecutive session on Tuesday, as both the Nifty 50 and BSE Sensex opened on a positive note, buoyed by strong foreign institutional buying and improving global sentiment. According to ANI, the Nifty 50 index commenced trading at 23,751.50, marking a gain of 93.15 points or 0.39 per cent, while the BSE Sensex opened 311.90 points higher, up 0.40 per cent at 78,296.28. Analysts attribute the sustained uptrend to foreign portfolio investors (FPIs) stepping up their purchases, alongside domestic investors capitalising on the recent rally. Ajay Bagga, a banking and market expert, told ANI that Indian markets have benefited from significant short-covering by FPIs, as well as domestic investors who were caught off guard by last week's strong performance. "The benchmark indices saw a sharp 4 per cent jump last week, while the broader indices surged over 7 per cent. This has led to renewed investor interest. Notably, the FPI net inflow into the cash markets is the first significant positive movement since December and September of 2024," Bagga stated. He further pointed out that improving global sentiment has also contributed to the market rally. However, he cautioned that global trade concerns remain, particularly with former US President Donald Trump expected to announce new reciprocal trade tariffs on April 2. "The news, first reported by The Wall Street Journal, suggests that the proposed tariffs will be less broad-based and will include multiple sectoral and national exemptions. This has led to a relief rally in global markets," Bagga explained. As per ANI reports, all sectoral indices on the National Stock Exchange (NSE) opened in positive territory, indicating a broad-based recovery. The Nifty PSU Bank index rose 0.62 per cent, continuing its strong momentum from Monday’s 3 per cent surge. Additionally, Nifty Auto gained 0.51 per cent, Nifty IT advanced 0.87 per cent, and Nifty PSU Bank also recorded a 0.62 per cent gain. Among the top gainers in the Nifty 50 opening session were Ultratech Cement, HCL Technologies, Tata Consultancy Services (TCS), Infosys, and Wipro. Meanwhile, Dr. Reddy’s Laboratories, Britannia, IndusInd Bank, and Apollo Hospitals emerged as the biggest losers. Akshay Chinchalkar, Head of Research at Axis Securities, told ANI that while the Nifty has maintained its upward trajectory for six consecutive sessions, there is an increased demand for protection via the India VIX due to the swift nature of the rally. "Although market breadth has remained positive, the rapid ascent has created three upside gaps since the March 17 low. This has pushed certain near-term indicators into overbought territory, necessitating caution among bullish traders. Key resistance levels for the day are expected around the 23,827-23,960 range, while immediate support is likely to be found near 23,402," Chinchalkar noted. (With inputs from ANI)
25 March,2025 01:52 PM IST | Mumbai | mid-day online correspondent
Markets bounce back after early decline; Sensex reaches 76,095.26 points
Equity benchmark indices Sensex and Nifty opened lower on Friday but quickly regained lost ground, buoyed by fresh foreign institutional investor (FII) inflows that uplifted market sentiment, as per PTI. The Bombay Stock Exchange (BSE) benchmark Sensex initially declined by 252.8 points to 76,095.26 in early trade, while the broader National Stock Exchange (NSE) Nifty slipped 57.85 points to 23,132.80. However, both indices staged a swift recovery, reversing early losses to trade in positive territory. According to PTI, the Sensex rebounded, gaining 205.09 points to reach 76,550.97, while the Nifty advanced by 70.05 points to trade at 23,262.55. Among the Sensex constituents, Bajaj Finance, Nestlé, Kotak Mahindra Bank, NTPC, Maruti, Power Grid, Adani Ports, Tata Motors, Reliance Industries, and Bajaj Finserv emerged as the top gainers. Meanwhile, Infosys, Titan, HCL Technologies, Tata Consultancy Services, HDFC Bank, IndusInd Bank, Tech Mahindra, Asian Paints, and Zomato faced losses. Asian markets presented a mixed picture, with Seoul and Tokyo trading in positive territory, whereas Shanghai and Hong Kong witnessed declines. In the United States, Wall Street closed slightly lower on Thursday. According to PTI reports, foreign institutional investors made net equity purchases worth Rs 3,239.14 crore on Thursday, reflecting renewed buying interest. Stock market today: Global crude oil prices also move higher V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that the ongoing rally in Indian equities this week, which saw the Nifty surge by 3.5 per cent, came amid escalating trade tensions. "The primary driver of the rally is the strong buying activity by FIIs in the cash market over the past two days," Vijayakumar stated, as per PTI. Global crude oil prices also moved higher, with the Brent benchmark rising by 0.43 per cent to reach USD 72.31 per barrel. On Thursday, the BSE Sensex had recorded an impressive gain of 899.01 points, or 1.19 per cent, closing at 76,348.06, reclaiming the 76,000 level. The Nifty surged 283.05 points, or 1.24 per cent, settling at 23,190.65, marking a strong rally and surpassing the key 23,000 level. With sustained foreign fund inflows and strong market momentum, investors remain cautiously optimistic about the near-term outlook, PTI reports. (With inputs from PTI)
21 March,2025 01:22 PM IST | Mumbai | mid-day online correspondent
US stocks plunge as Dow drops 1,000 points amid economic uncertainty
The US stock market experienced a sharp sell-off on Monday, with Wall Street facing one of its worst days in years as mounting economic concerns and uncertainty over President Donald Trump's trade policies weighed heavily on investor confidence. The S&P 500 dropped 3.2% in afternoon trading, setting it up for its steepest decline since 2022, when soaring inflation severely strained household budgets. The Dow Jones Industrial Average plummeted by 1,042 points, or 2.4%, with just over an hour left in the trading session. Meanwhile, the Nasdaq composite tumbled 4.6%, reflecting a particularly rough day for tech stocks. According to AP, the S&P 500 is now down 9.1% from its record high set on February 19. The market’s latest drop comes amid heightened volatility, with the index swinging by more than 1% — either up or down — in seven of the past eight sessions. The turbulence stems largely from Trump’s inconsistent tariff policies, which have left businesses and investors uncertain about the future. The fear is that these sharp market fluctuations could either directly weaken the economy or trigger enough uncertainty to stall corporate investment and consumer spending. Signs of economic fragility are already emerging. Surveys have shown increased pessimism among businesses and consumers, and real-time indicators compiled by the Federal Reserve Bank of Atlanta suggest that the US economy may already be contracting. When asked over the weekend if he anticipated a recession in 2025, Trump told Fox News, "I hate to predict things like that. There is a period of transition because what we're doing is very big. We're bringing wealth back to America. That's a big thing. It takes a little time. It takes a little time." Trump has justified his tariff strategy as a means of encouraging the return of manufacturing jobs to the US. Treasury Secretary Scott Bessent acknowledged that the economy might go through a "detox" phase as it adjusts to less government-driven spending. Despite the market turmoil, the US job market remains stable for now, and the economy ended last year on solid footing. However, economists are scaling back their growth projections for 2025. David Mericle of Goldman Sachs recently lowered his forecast for US economic growth to 1.7% from 2.2%, citing larger-than-expected tariffs as the key factor. He also increased the probability of a recession over the next year to one-in-five, noting that the White House retains the option to ease policy changes if economic risks become more pronounced. "There are always multiple forces at work in the market, but right now, almost all of them are taking a back seat to tariffs," said Chris Larkin, managing director for trading and investing at E-Trade from Morgan Stanley. Big Tech stocks, which have powered much of the market’s recent strength, took some of the hardest hits. Nvidia sank 5.9%, bringing its total loss for the year to 21%. This marks a stark reversal from its meteoric rise of nearly 820% over 2023 and 2024. Tesla plunged 15.1% on Monday, deepening its year-to-date decline to nearly 45%. While the stock initially surged after Trump’s re-election on hopes that Elon Musk’s close ties with the administration would benefit the electric vehicle maker, it has since fallen sharply amid growing concerns over the brand’s political and public image. Protests over US government job cuts and other policy moves have even targeted Tesla dealerships. Consumer-driven stocks also stumbled. United Airlines fell 8.4%, while Carnival, the cruise ship operator, lost 9.2%. Other asset classes also reflected investor unease. Bitcoin’s value slid below $78,000 after peaking at over $106,000 in December, reflecting broader caution in the market. Treasury bonds, on the other hand, saw increased demand as investors sought safer assets. The yield on the 10-year Treasury fell to 4.21% from 4.32% on Friday, continuing a downward trend from January’s high of nearly 4.80%. Lower yields reflect rising demand for bonds, as investors brace for further economic uncertainty. Despite the turmoil, dealmaking on Wall Street remains active. Shares of Redfin soared 64.7% after Rocket Companies announced plans to acquire the digital real estate brokerage in an all-stock deal valued at $1.75 billion. Rocket’s stock, however, fell 17.2% following the announcement. ServiceNow fell 7.9% after the AI platform company revealed plans to acquire AI-assistant maker Moveworks for $2.85 billion in cash and stock. European markets also suffered, with major indexes falling after a mixed session in Asia. Hong Kong’s market declined 1.8%, while Shanghai slipped 0.2% following data showing that China’s consumer prices fell in February for the first time in 13 months, pointing to weakness in the world’s second-largest economy. As per AP reports, the early timing of the Lunar New Year holiday added to the downward pressure on China’s economy. Investors remain on edge as markets grapple with the uncertain fallout from Trump’s trade policies and broader economic headwinds. The coming months are likely to remain volatile as Wall Street adjusts to shifting economic and political realities. (With inputs from AP)
11 March,2025 01:14 PM IST | New York
Sensex slips below 75,000 as Nifty tumbles 188 points amid weak global trends
Indian equity benchmark indices Sensex and Nifty witnessed a sharp decline in early trade on Monday, impacted by weak trends in US markets, sustained selling by Foreign Institutional Investors (FIIs), and concerns over global trade tensions, particularly regarding US tariffs. As per PTI reports, the 30-share BSE Sensex plunged 567.62 points, falling below the crucial 75,000 mark to settle at 74,743.44. Similarly, the NSE Nifty dropped 188.4 points, trading at 22,607.50 in the opening session. According to PTI, stocks from the Sensex pack that recorded the most significant losses included HCL Tech, IndusInd Bank, Zomato, Tech Mahindra, Tata Consultancy Services, ICICI Bank, HDFC Bank, and Power Grid. However, Maruti Suzuki and Mahindra & Mahindra emerged as the only gainers in the early session. The market downturn follows continued heavy outflows by foreign investors. On Friday, FIIs offloaded equities worth Rs 3,449.15 crore, as per exchange data. PTI reports that foreign investors have withdrawn over Rs 23,710 crore from Indian equity markets so far in February, bringing the total outflows beyond Rs 1 lakh crore in 2025. The selling pressure is attributed to growing global trade tensions, especially concerns over the tariff policies of former US President Donald Trump, who is a key contender in the upcoming elections. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated, "The market is facing headwinds from relentless FII selling and global uncertainties relating to Trump tariffs. Additionally, the sharp surge in Chinese stocks presents another near-term challenge. In the US, long-term inflation expectations are rising, making it unlikely for the Federal Reserve to implement the expected rate cut." PTI reports that major Asian markets, including Seoul, Shanghai, and Hong Kong, were trading lower, mirroring the weak sentiment from Wall Street, where US markets closed significantly lower on Friday. Global oil prices also continued their decline, with the benchmark Brent crude slipping 2.13 per cent to USD 74.43 per barrel, further weighing on investor sentiment. "As we advance, continued foreign fund outflows and concerns over US President Donald Trump’s tariff stance in his potential second term may keep investors on edge in a holiday-shortened week," said Ameya Ranadive, Chartered Market Technician, CFTe, and Senior Technical Analyst at StoxBox. On Friday, the Sensex had already logged its fourth consecutive session of decline, losing 424.90 points or 0.56 per cent to close at 75,311.06, while the Nifty fell 117.25 points or 0.51 per cent to settle at 22,795.90. (With inputs from PTI)
24 February,2025 10:47 AM IST | Mumbai
Indian markets decline: Sensex opens at 75,795, Nifty at 22,876 amid FII selling
Benchmark indices Sensex and Nifty opened on a weak note on Tuesday, as sustained foreign fund outflows continued to dampen investor sentiment, PTI reports. After a brief respite in the previous session, the 30-share BSE benchmark Sensex fell by 201.44 points, reaching 75,795.42 in early trade. Similarly, the NSE Nifty dropped 82.65 points, settling at 22,876.85, as per PTI. Among the major laggards from the Sensex pack were Tata Steel, NTPC, IndusInd Bank, State Bank of India, UltraTech Cement, and Tata Motors. On the other hand, Tech Mahindra, Maruti, Infosys, HCL Tech, and Tata Consultancy Services were among the gainers in the early session, PTI reports. According to exchange data, Foreign Institutional Investors (FIIs) continued to offload equities, selling shares worth ₹3,937.83 crore on Monday. The ongoing selling pressure from FIIs has contributed to the market's downward trajectory, as per PTI. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that despite Monday’s mild recovery, market sentiment remains weak. "The market construct doesn’t favour a rally at this point. FIIs are likely to continue selling, and overall news flows are not positive," he stated. Despite the weak performance in the domestic market, key Asian markets were trading in the green. Seoul, Tokyo, Shanghai, and Hong Kong all registered gains in early trade, PTI reports. Meanwhile, US markets remained closed on Monday in observance of 'President’s Day', which limited global trading activity. In the commodities market, the global oil benchmark Brent crude saw a slight uptick of 0.24 per cent, reaching USD 75.40 per barrel. On Monday, fag-end buying helped the Sensex snap its eight-day losing streak, with the index rising 57.65 points or 0.08 per cent to close at 75,996.86. The Nifty also recovered 30.25 points or 0.13 per cent to settle at 22,959.50, as per PTI. As investors continue to assess market conditions, attention remains on foreign fund movements, corporate earnings, and global economic trends that could influence further market direction. (With inputs from PTI)
18 February,2025 11:08 AM IST | Mumbai