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Indian Markets Rally on Global Optimism and U.S. Trade Moves

April 15, 2025, 9:47 am

Indian stock indices opened sharply higher on Tuesday, driven by positive global sentiment and expectations of reduced trade tensions between the U.S. and China. The Nifty 50 index surged by 539.80 points or 2.36% to open at 23,368.35. Similarly, the BSE Sensex jumped 1,679.20 points or 2.23%, starting the day at 76,836.46. The rally was fueled by investor hopes after the U.S. signaled relief in trade tariffs.

U.S. Signals Temporary Tariff Relief

Recently, the U.S. government hinted at easing some trade restrictions. This includes temporary exemptions on tariffs for key electronics and semiconductors. These moves raised hopes of progress toward a broader deal with China. On Sunday, the U.S. Commerce Secretary confirmed the relief is temporary. Meanwhile, President Donald Trump posted that new tariffs on semiconductors might be announced next week.

Expert View on Market Sentiment

Market expert Ajay Bagga 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.”

Global Markets React Positively

Global stock markets welcomed the developments. On Monday, major indices across Asia, Europe, and the U.S. ended higher. Notably, U.S. tech giants saw gains of more than 6% during pre-market trading.

Domestic Confidence Remains Strong

Even with tight liquidity in March, Indian investors maintained their confidence. SIP (Systematic Investment Plan) inflows into equity mutual funds crossed ₹25,000 crore, providing solid support to the markets.

FII and DII Activity

In the last trading session on April 11, Foreign Institutional Investors (FIIs) sold shares worth ₹2,519 crore. In contrast, Domestic Institutional Investors (DIIs) remained active buyers, investing ₹3,759 crore.

Corporate Earnings in Focus

Several Indian companies will announce their quarterly results today. These include:

ICICI Lombard General Insurance
Indian Renewable Energy Development Agency
GM Breweries
MRP Agro
Hathway Bhawani Cabletel and Datacom
Delta Industrial Resources

Other Asian Markets Also Rise

Elsewhere in Asia, markets showed gains too. Taiwan’s weighted index climbed over 1.6%. South Korea’s KOSPI rose 0.79%, Japan’s Nikkei 225 advanced 0.88%, and Hong Kong’s Hang Seng index inched up 0.07%. On Monday, the U.S. markets also closed in the green. The Dow Jones gained 0.78%, NASDAQ rose 0.64%, and the S&P 500 increased by 0.79%.

Investors Await Further U.S. Announcements

Looking ahead, market participants are closely watching for more statements from the U.S. government. Any new development could influence global trade outlook and steer future market direction.

Historic US Market Crashes: From 1929 to the Pandemic Panic

April 7, 2025, 11:37 am

As 2025 begins with a shaky start for the stock market, American investors are starting to worry. The recent dip mainly happened after President Donald Trump supported global tariffs. At the same time, the economy has shown signs of slowing down.

Although markets often rise and fall, crashes are different. They cause steep drops across large parts of the market in just days. Moreover, experts find it nearly impossible to predict such crashes in advance.

Historically, the US has faced many dramatic crashes—from the Great Depression to the COVID-19 shock. Generally, a crash happens when stock prices drop by 20% or more within a short time.

Let’s look at five of the worst crashes in American history.

1. 1929 Crash – Trigger for the Great Depression

The stock market crash of 1929 remains the most devastating in US history. It followed the roaring success of the 1920s, a time when the economy boomed and stock prices soared. However, things changed drastically when markets suddenly collapsed.

Experts blame excessive borrowing, or leverage, for this crisis. Investors had poured in money they didn’t really own. When the bubble burst, it helped trigger the Great Depression, leading to mass unemployment and years of economic struggle.

2. Black Monday – October 19, 1987

On this day, the US market experienced its biggest single-day percentage loss. The Dow Jones Industrial Average plunged by 22.6%, or 508 points. Analysts mainly blamed computerized trading systems for the crash. These programs triggered massive sell-offs, creating panic. Still, the market managed to recover fully in less than two years.

3. Dot-Com Crash – 2000 to 2002

During the late 1990s, internet companies became the centre of a stock market boom. The NASDAQ index, filled with tech stocks, jumped from 1,000 in 1995 to over 5,000 by 2000. But the bubble didn’t last.

On March 10, 2000, the NASDAQ hit a peak of 5,048.62. Then it began to fall rapidly. By October 4, 2002, it dropped by almost 77% to 1,139.90. The crash exposed how overvalued many internet companies were. The NASDAQ didn’t recover to its earlier peak until nearly 15 years later.

4. 2008 Financial Crisis – Collapse of Subprime Mortgages

This crisis took shape after banks started giving risky home loans to people with poor credit scores. In 1999, Fannie Mae made mortgages easier to get. Many people borrowed more than they could afford.

At the same time, financial firms used cheap debt to boost their investment returns. As more people bought homes, prices soared. However, trouble started in March 2007 when Bear Stearns couldn’t handle its mortgage-related losses.

By September 2008, the major US indexes had fallen by almost 20%. On March 6, 2009, the Dow reached its lowest point—54% below its previous peak. It took four years for the market to bounce back fully.

5. COVID-19 Crash – February to March 2020

The global pandemic caused the most recent stock market crash. During the week of February 24, 2020, the Dow and S&P 500 dropped by 11% and 12%. These were the worst weekly losses since 2008.

On March 12, the Dow fell by 9.99%. Just a few days later, on March 16, it dropped another 12.9%. These were some of the biggest one-day losses ever.

However, this crash didn’t last long. The market recovered by May 2020. The quick rebound happened because of aggressive action. The Federal Reserve slashed interest rates and injected $1.5 trillion into the markets. Meanwhile, Congress passed a $2.2 trillion relief package to support the economy.

Stock Market Hit Hard: Sensex Falls 650 Points, Nifty Down 150

January 21, 2025, 12:20 pm

The stock market took a sharp downturn during the early trading hours on Tuesday, January 21. By 10:40 a.m., the BSE Sensex had dropped by 648.90 points, or 0.84%, reaching 76,424.54. Similarly, the NSE Nifty fell by 149.15 points, or 0.64%, to 23,195.60. Although the market initially opened with optimism, it quickly shifted into the red.

Biggest Stock Declines

Among the biggest losers, Zomato Ltd led the decline, falling by 10.98% to ₹214.50. Following this, Adani Ports and Special Economic Zone dropped 1.96%, trading at ₹1,126.55. Furthermore, Reliance Industries Ltd also saw a loss, falling 1.71% to ₹1,282.65.

Zomato, in particular, reported a significant 57% drop in net profit, despite a 64% increase in revenue. The decline was primarily attributed to rising expenses.

Stocks in the Green

On a more positive note, only three Sensex stocks ended in the green. UltraTech Cement Ltd gained 0.84%, trading at ₹10,713.90. ITC Ltd rose by 0.51%, reaching ₹440.00. Additionally, HCL Technologies Ltd saw an increase of 0.50%, trading at ₹1,804.80.

Sectors Hit Hardest

Among the Nifty Sectoral Indices, Nifty Consumer Durables faced the most significant loss, dropping 3.38% to 38,384.40. In addition, Nifty Realty fell 2.67%, reaching 920.10. Similarly, Nifty Midsmall Financial Services dropped 2.05%, settling at 15,292.30.

Is Stock Market Closed for Maharashtra Election 2024?

November 20, 2024, 9:40 am

Due to the Maharashtra Assembly Election 2024 on November 20, 2024, the Indian stock market will be closed. Investors can check the Bombay Stock Exchange (BSE) website for confirmation.

Stock Market Holiday Details

The BSE lists all the stock market holidays for 2024. In November, there are three holidays: November 1 for Laxmi Pooja, November 15 for Guru Nanak Jayanti, and November 20 for the Maharashtra Election. Originally, there were only two holidays in November, but the election led to the addition of a third.

Next Stock Market Holiday

After November 20, the next stock market holiday is December 25, 2024, for Christmas.

Will Banks Be Open?

Banks in Maharashtra will also be closed tomorrow for the election. The Reserve Bank of India has confirmed this. However, digital services like ATMs, UPI, and online banking will remain available.

Liquor Shops and Other Services

Liquor shops across Maharashtra will close on November 20 to maintain order during voting.

Maharashtra Assembly Elections 2024: Voting Underway Across 288 Seats

Voting for the single-phase Maharashtra Assembly elections began at 7 am and will end at 6 pm today. Polling is taking place in all 288 constituencies of the state.

Candidates and Contesting Parties

A total of 4,136 candidates, including 2,086 independents, are vying for seats. The BJP is contesting 149 seats, Shiv Sena 81, and the NCP 59. Congress has fielded 101 candidates, while Shiv Sena (UBT) and NCP (Sharad Pawar faction) are contesting 95 and 86 seats, respectively. The BSP is contesting 237 seats.

Voter Turnout and Election Results

Maharashtra has around 9.7 crore registered voters. The election results will be declared on November 23, 2024.

Indian Stock Market Tumbles: Why Sensex and Nifty 50 Fell Over 1% Today?

November 4, 2024, 11:01 am

The Indian stock market took a significant hit on Monday, November 4, with widespread selling that impacted major indices. Both the Sensex and Nifty 50 plummeted over 1%, while mid-cap and small-cap stocks experienced losses of up to 2%.

Key Indices Performance

Sensex: The Sensex opened slightly lower at 79,713.14, down from its previous close of 79,724.12. However, it continued to slide, reaching 78,836.99, marking a drop of over 1%.
Nifty 50: Nifty opened at 24,315.75, marginally lower than its previous close of 24,304.35, and further dipped to 24,017.10.
Midcap and Smallcap Indices: Both indices on the BSE fell up to 2%, adding to the market’s losses.

Drop in Market Capitalisation

The market capitalization of companies listed on the BSE declined sharply. From ₹448 lakh crore in the previous session, it fell to nearly ₹442 lakh crore, effectively causing a loss of around ₹6 lakh crore in one trading day.

Sectoral Losses

Sector-wise, several indices saw substantial declines:

Nifty Oil & Gas, Media, Consumer Durables, and Realty: Dropped by 2-3%.

Nifty Bank, Auto, FMCG, Metal, FMCG, and PSU Bank: Each of these sectors fell by around 1%.

Factors Driving the Market Down

Experts identified a few primary reasons behind Monday’s steep fall:

1. Uncertainty Surrounding US Elections

Investor caution ahead of the US presidential election is causing global market jitters. With opinion polls predicting a tight race between Kamala Harris and Donald Trump, market volatility is anticipated in the short term.

“In the next couple of days, markets globally will be focused on the US presidential elections, and there can be near-term volatility in response to the election outcome. However, this is likely to be short-lived and economic fundamentals like US growth, inflation, and the Fed action will influence the market trend,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

2. High Valuations

Even after recent market corrections, valuations remain elevated, which some experts consider uncomfortable. According to Trendlyne, the Nifty 50’s current price-to-earnings (PE) ratio stands at 22.7, which is above its two-year average PE of 22.2 and close to its one-year average PE of 22.7.

Disclaimer: The views and recommendations provided are those of individual analysts, experts, and brokerage firms, and do not reflect the opinions of The Daily Guardian. Investors are encouraged to consult certified financial advisors before making any investment decisions.

Stock Market Decline: Sensex Drops Under 80,000; Nifty Hits 24,450

October 23, 2024, 12:45 pm

Indian Benchmark Indices Decline

New Delhi: On Wednesday, Indian benchmark indices continued their downward trajectory, with both the BSE Sensex and Nifty 50 starting the day in the negative. At the market opening, the Sensex fell by 309.75 points, or 0.39 percent, settling at 79,910.97. Meanwhile, the Nifty 50 decreased by 23.75 points, or 0.1 percent, reaching 24,448.35.

Top Losers on NSE

Several stocks experienced significant losses during the early trading session. Notable losers on the NSE included NTPC, Power Grid, Mahindra & Mahindra, Shri Ram Finance, Coal India, ONGC, and BEL.

Early Gainers on NSE

Despite the overall market decline, some stocks managed to show positive movement. Among the top gainers in early trade were Bajaj Finance, Bajaj Finserv, HDFC Bank, Bajaj Auto, and Britannia.

Performance of Asian Markets

In the Asia-Pacific region, market performances varied. Japan’s Nikkei 225 declined by 0.04 percent, while the Topix index saw a slight increase of 0.19 percent. South Korea’s Kospi rose by 0.43 percent, although the Kosdaq experienced a decrease of 0.72 percent. Australia’s S&P/ASX 200 saw a modest gain of 0.14 percent. In China, the Shanghai Composite fell by 0.08 percent, and the CSI300 dropped by 0.53 percent. Conversely, Hong Kong’s Hang Seng index advanced by 0.39 percent.

Market Recap from the Previous Day

On Tuesday, the markets faced a challenging trading day, with both indices suffering substantial declines. The Sensex plummeted by 930.55 points, or 1.15 percent, closing at 80,220.72. The Nifty 50 also dropped, falling by 309 points, or 1.25 percent, to end the day at 24,472.10.

Monday’s Sensex Drop: A Review of the Five Largest Declines in History

August 5, 2024, 1:17 pm

The Sensex, India’s benchmark stock index, opened sharply lower on Monday. The index has frequently experienced significant declines, often due to global and domestic economic events. The five largest intraday drops in the history of the Sensex include the day of election results on June 4, 2024, and four occurrences during the pandemic.

On June 4, 2024, the most recent and one of the steepest declines happened when the Sensex plummeted to an intraday low of 70,234.43 points. The market opened at 76,285.78, experiencing a dramatic drop of 6,051.35 points, or 7.93%, before closing at 72,079.05. This sharp decline was driven by the uncertainty following the election outcome, with no Indian political party securing a majority in the parliamentary elections.

On March 23, 2020, the Sensex fell to an intraday low of 25,880.83 points, reflecting panic induced by the COVID-19 pandemic. The market opened at 27,608.80, experienced a significant drop of 1,727.97 points, or 6.23%, to the intraday low, and closed slightly higher at 25,981.24. This period marked one of the most volatile times in recent market history.

Just a week earlier, on March 16, 2020, the Sensex experienced another major drop, falling to an intraday low of 31,276.30 points. The index opened at 33,103.24 and witnessed a decline of 1,826.94 points, or 5.51%, as the day’s low, closing at 31,390.07. The ongoing uncertainty due to the pandemic and its economic impact caused severe market reactions.

On March 13, 2020, the Sensex faced a significant intraday fall, reaching a low of 29,388.97 points. The market had opened at 31,214.13 and plunged by 1,825.16 points, or 5.84%, but managed to recover somewhat by the close, ending the day at 34,103.48. The day’s volatility was marked by global market sell-offs and fears of a global recession.

A day earlier, on March 12, 2020, the Sensex dropped to an intraday low of 32,493.10 points. The index opened at 34,472.50 and saw a fall of 1,979.40 points, or 5.74%, before closing at 32,778.14. This decline was part of a series of losses as investors reacted to the rapid spread of COVID-19 and its economic repercussions.

Markets Open Lower as Union Budget Fails to Boost Nifty and Sensex

July 24, 2024, 12:41 pm

Indian benchmark indices started the day on a downward note as the Union Budget was perceived as uneventful by market participants. The Sensex opened at 80,343.38, down by 85.43 points or 0.11 percent, while the Nifty 50 began at 24,445.00, losing 34 points or 0.14 percent. Similarly, the Bank Nifty opened lower at 51,657.70, a decrease of 120.60 points or 0.23 percent.

In the initial trading hours, stocks in sectors such as Banking, Auto, Financial Services, IT, Pharma, Private Banks, Realty, and Healthcare were in the red. Conversely, stocks from the FMCG, Media, Metal, PSU Bank, Consumer Durables, and Oil and Gas sectors also showed negative performance.

The stock market experienced notable volatility during the Union Budget announcements on Tuesday. Following the presentation of the Union Budget 2024, domestic indices closed slightly lower on the final trading day. During the trading hours, consumer durables, FMCG, and pharma sector stocks attracted buyers in response to the Finance Minister’s proposed incentives. The market movement was influenced by the focus on employment, skill development, and ongoing infrastructure investment.

On Tuesday, foreign investors became net sellers in the Indian market after almost a week, offloading stocks worth Rs 2,975.3 crore. In contrast, domestic investors were net buyers, purchasing stocks worth Rs 1,418 crore, according to National Stock Exchange (NSE) data.

Asian markets followed Wall Street’s downward trend, with Japan’s Nikkei 225 and South Korea’s Kospi both trading lower on Wednesday. Hong Kong’s Hang Seng index futures indicated a flat opening.

In the US, major indices closed slightly lower on Tuesday amid earnings reports from Alphabet and Tesla. The Dow Jones fell by 57.35 points (0.14 percent) to 40,358.09, the S&P 500 declined by 8.67 points (0.16 percent) to 5,555.74, and the Nasdaq Composite dropped by 10.22 points (0.06 percent) to 17,997.35. Tesla shares decreased by 2 percent in regular trading and an additional 8 percent in after-hours trading, while Alphabet’s shares saw a modest increase of 0.1 percent.

Indian Markets Dip on Global Weakness: Nifty and Sensex Decline

July 18, 2024, 11:19 am

The Indian markets began Thursday’s trading session with a slight decrease influenced by weak global signals. The Nifty 50 index showed a decline of 85 points, or 0.37 per cent, settling at 24,526, while the BSE Sensex also dropped by 304 points to 80,406 in early trading.

Across the broader market on the National Stock Exchange, major indices like Nifty Next 50, Nifty 100, Nifty Midcap, and Nifty Small Cap faced selling pressure and declined. Among the sectoral indices, except for Nifty FMCG, Nifty IT, and Nifty Realty, all others recorded declines, notably with Nifty Media seeing a drop of over 2 per cent due to significant selling pressure.

Leading gainers in the Nifty 50 included LTIMindtree, Axis Bank, Apollo Hospital, and Infosys, whereas Bajaj Auto and Asian Paints were among the top losers, each experiencing declines of more than 2 per cent, the latter following its financial results. Hero MotoCorp, Eicher Motors, and Tata Steel also featured prominently among the top losers.

Ajay Bagga, a Banking and Market Expert, noted, “Asian markets are down in line with the US, driven by a stronger Yen and reduced exports, which have led the Nikkei to decline nearly 2 per cent. Indian markets are likely to be subdued given weak global cues. Additionally, with the Union Budget scheduled for July 23rd, traders are expected to book profits as they lighten their positions ahead of this significant market event next week. Safe haven demand has driven rallies in Gold and Silver, while lower US inventories are boosting crude oil prices.”

In Asia, markets declined amidst challenges in tech and chip sectors due to geopolitical tensions and US export constraints, with Japan’s Nikkei 225 falling by over 2 per cent and the Kospi by 0.98 per cent. Notably, in India, Foreign Institutional Investors (FIIs) purchased shares worth Rs 1,271.45 crore, contrasting with Domestic Institutional Investors’ (DIIs) net sales of Rs 529.48 crore on July 16.

Crude oil prices saw slight increases, with WTI at USD 83.30 and Brent at USD 85.35. The US Dollar Index (DXY) rose by 0.05 per cent to 103.73. Meanwhile, US markets witnessed significant declines, with the S&P 500 down 1.39 per cent and the Nasdaq Composite plummeting 2.77 per cent.

BSE and NSE Remain Closed Today for Muharram

July 17, 2024, 8:22 am

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are closed today, July 17, in observance of Muharram. As a result, trading in derivatives, equities, SLBs, currency derivatives, and interest rate derivatives is also halted.

However, the commodity derivatives segment will be closed only during the morning session from 9 am to 5 pm but will open for the evening session from 5 pm to 11:55 pm. Trading on both the NSE and the BSE will resume on July 18.

On Tuesday, July 16, the Sensex and Nifty reached record high levels due to buying in FMCG, telecom, and select IT shares. The 30-share BSE Sensex closed at a new lifetime high of 80,716.55, while the NSE Nifty settled at an all-time closing high of 24,613, marking the third consecutive day of gains.

This surge in Sensex and Nifty has been ongoing since last Friday, driven by foreign investors turning net buyers in Indian equities. This positive trend is fueled by increasing expectations of a rate cut by the US Federal Reserve by September this year.

Sensex Crosses 79,000 Milestone; Nifty Sets New All-Time High

June 27, 2024, 12:13 pm

Benchmark indices staged a recovery on Thursday after an initial dip, with the Sensex surging past the historic 79,000-mark for the first time and the Nifty reaching a fresh record high. This upward movement was driven by strong buying in blue-chip stocks.

Starting lower, the 30-share BSE Sensex gained 339.51 points to hit a new peak of 79,013.76, supported by robust purchases in major stocks like Reliance Industries and ICICI Bank.

Simultaneously, the Nifty also rebounded, rising by 97.6 points to achieve a new high of 23,966.40.

Leading the gains among Sensex components were UltraTech Cement, JSW Steel, Reliance Industries, Axis Bank, ICICI Bank, Bajaj Finance, Kotak Mahindra Bank, and Tata Steel. However, Maruti, Tech Mahindra, HCL Technologies, and Larsen & Toubro experienced declines during the session.

Elsewhere, Asian markets such as Seoul, Tokyo, Shanghai, and Hong Kong traded lower, while US markets closed higher on Wednesday.

Foreign Institutional Investors (FIIs) were net sellers of equities worth ₹3,535.43 crore on Wednesday, according to exchange data. Meanwhile, Brent crude, the global oil benchmark, edged down 0.21 per cent to USD 85.07 per barrel.

On Wednesday, the Sensex had closed up 620.73 points or 0.80 per cent at a record of 78,674.25, while the Nifty ended higher by 147.50 points or 0.62 per cent at a record closing of 23,868.80.

BSE Sensex Starts Strong: Up 200 Points, Nifty 50 Above 23,550 in Today’s Market

June 25, 2024, 3:25 pm

Today, the Indian stock market saw a positive opening as both the BSE Sensex and Nifty50 began in the green on Tuesday. The BSE Sensex surged by 200 points, reaching above 77,500, while the Nifty50 climbed past the 23,550 mark. As of 9:21 AM, the Sensex was trading at 77,523.37, marking a gain of 182 points or 0.24%, and the Nifty50 stood at 23,583.15, up by 45 points or 0.19%. Despite starting off slow, the domestic market managed to close Monday with modest gains. Analysts are predicting potential volatility ahead due to the monthly derivatives expiry week.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal, highlighted, “This week, market movements will hinge on global macroeconomic indicators and the progress of monsoon in India. We anticipate the Nifty to stabilize amidst some volatility during the derivatives expiry.”

According to Nagaraj Shetti from HDFC Securities, “In the short term, Nifty’s outlook remains optimistic despite fluctuations. After rebounding from around 23,300 levels, there’s a chance for Nifty to test the upper range of 23,650-23,700 soon, with immediate support seen at 23,350.”

In the US, the stock market closed with mixed results as the Dow Jones Industrial Average hit a one-month high, contrasting with the Nasdaq’s decline of over 1%. This shift was driven by investors moving away from AI-related stocks and reallocating investments amid expectations of potential interest rate cuts by the Federal Reserve later this year. Asian markets, on the other hand, showed resilience, edging higher despite a varied performance on Wall Street, fueled by speculations of a slowdown in the tech sector rally.

Meanwhile, oil prices remained stable on Tuesday despite concerns surrounding China’s economic recovery and geopolitical tensions stemming from Ukrainian attacks on Russian refineries.

Several stocks, including Balrampur Chini Mills, PEL, Chambal Fertilisers, Indus Tower, PNB, SAIL, GNFC, and Granules, are currently in the F&O ban period in the Indian market.

Foreign portfolio investors continued to be net sellers for the second consecutive day, with net sales amounting to Rs 653 crore on Monday. Concurrently, domestic institutional investors also divested shares worth Rs 820 crore.

Overall, the net long position of Foreign Institutional Investors (FIIs) increased from Rs 73,991 crore on Friday to Rs 1.01 lakh crore on Monday, indicating their sustained interest in the Indian equity market.

Stock Markets Start Week Strong, Nifty Hits Record High

June 18, 2024, 11:31 am

Domestic markets maintained their bullish momentum on Tuesday, with both the Nifty 50 and BSE Sensex showing gains in the opening session. The Nifty 50 climbed 60 points to 23,529, while the BSE Sensex rose by 101 points, reaching 77,195 shortly after trading commenced.

With the exception of Nifty Pharma, Nifty Healthcare, and Nifty MidSmall Healthcare, all other sectoral indices began the week positively, advancing in the opening session. The markets had opened today following a closure on Monday for Eid-Al-Agha.

Ajay Bagga, a banking and market expert, commented, “The two big looking triggers are the complexion of the 100-day priorities of the new government and the Union Budget measures. The two big political developments will be the choice of the Speaker of the lower house of parliament, the Lok Sabha and the announcement of the BJP President.”

He also noted, “PSU companies, banks, capital goods, infrastructure, railways, defence stocks remain the preferred bets in the Indian markets.”

Among the top gainers in the Nifty 50 were Adani Enterprises, Wipro, Adani Ports, Mahindra and Mahindra, and Titan, all showing advances in the opening session. On the other hand, the top losers included Dr. Reddy’s, Maruti, TCS, HDFC Life, and Divis Labs.

Shares of Hindustan Aeronautics surged more than 4 percent on Tuesday after the company secured a Defence Ministry tender worth over Rs 45,000 crore for 156 Light Combat Helicopters.

In the broader market on the NSE, all indices, including Nifty 100, Nifty Next 50, Nifty Midcap, and Nifty Smallcap, exhibited gains in early trading on Tuesday.

In Asian markets, stocks advanced, buoyed by gains in US technology giants, although Chinese equities were pressured by a worsening housing slump in May. Australia’s central bank is anticipated to keep its benchmark rate at 4.35 percent, while US markets prepare for retail sales data and Federal Reserve speeches ahead of Wednesday’s holiday.

European stock markets fluctuated between gains and losses amid concerns over the upcoming French election, leading to the highest equity volatility since October. France’s index gained nearly 1 percent, while Germany’s index advanced 0.4 percent.

In the commodity market, gold slid 0.5 percent to USD 2320/ounce as traders looked for indications from US policymakers and economic data regarding the timing of Federal Reserve interest rate cuts. Brent crude rose 2 percent to a one-month high above USD 84/barrel on hopes of rising global demand and OPEC+’s agreement to extend supply cuts.

Chandrababu Naidu’s wife Nara Earns ₹579 Cr in 5 Days

June 7, 2024, 2:50 pm

During a remarkable five-day surge in the stock market, Nara Bhuvaneshwari, the spouse of TDP leader Chandrababu Naidu, amassed a staggering ₹579 crore as Heritage Foods’ stock experienced a substantial upswing.

Despite the broader market downturn following the Lok Sabha election outcomes, Heritage Foods’ FMCG stock surged, propelled by Bhuvaneshwari’s significant 24.37% ownership stake in the company.

With a holding of 2,26,11,525 shares in Heritage Foods, she plays a pivotal role as a prominent promoter, wielding considerable influence over the company’s decisions and performance. This robust influence reflected in the stock’s price, which stood at ₹402.90 per share as of May 31, 2024.

Over the course of five trading sessions, Heritage Foods’ shares consistently rose, even amidst Tuesday’s market downturn. Today, the company’s shares opened with an upward trend, reaching an intraday peak of ₹659 per share.

In the past five consecutive sessions, Heritage Foods’ stock has surged by ₹256.10 per share, resulting in a substantial boost to Nara Bhuvaneshwari’s net worth. This surge coincides with the gathering of newly elected MPs from the National Democratic Alliance (NDA) at the new Parliament House, marking their first meeting following the BJP-led alliance’s victory in the Lok Sabha elections.

Chandrababu Naidu’s Telugu Desam Party (TDP) emerged as a significant player, particularly as the BJP fell short of the majority needed to independently form a government. The NDA secured 293 seats in the 543-member Lok Sabha, with the BJP securing 240 seats, well below the 272 required for a majority.

Sensex, Nifty Open Strong as NDA Confirms Modi’s Third Term

June 6, 2024, 10:33 am

The stock market kicked off positively on Thursday, propelled by the NDA’s announcement of PM Narendra Modi’s third term, set to begin with his oath-taking ceremony on Saturday. The Sensex surged by 378.59 points, starting at 74,804.68, while the Nifty climbed by 105.65 points, commencing the day at 22,726.00. Notable gainers among the Nifty companies included NTPC, SBI, ONGC, Coal India, and Power Grid, whereas Britannia, Hindustan Unilever, Cipla, Hindalco, and Nestle India were among the top losers.

Shrikant Chouhan, Head of Equity Research at Kotak Securities, analyzed the market’s technical performance, observing an initial sell-off followed by a robust rebound. He remarked, “After an early sell-off, Nifty and Sensex found support near 21,700/21,800 levels and bounced back strongly, signaling positivity. The market rallied 880/2600 points from its lowest point of the day, reclaiming the 22,500/74,000 levels or the 50-day SMA (Simple Moving Average), which is also encouraging.”

Chouhan elaborated that the market is currently in an extended pullback phase after Tuesday’s steep decline, suggesting a potential extension up to levels between 22,800 and 22,950. He advised reducing long positions within this range, with a possibility of short covering if the Nifty remains above 23,000. Support levels at 22,400 and 22,300 were highlighted, with a close below 22,300 potentially extending consolidation to 22,000 or 21,800.

Regarding the Bank-Nifty index, Chouhan noted its extended pullback phase, possibly pushing it to levels between 49,500 and 49,800. He identified support at 48,500, suggesting that a close below this level might lead to a retreat to 48,000. Overall, the market’s strong opening reflects investor confidence following the BJP’s electoral victory, with technical indicators indicating potential for further gains and highlighting crucial support and resistance levels for traders to monitor.

Indian Stock Market To Be Shut Due To LS Polls On Monday

May 19, 2024, 5:55 pm

The Indian Stock Market is to remain closed due to Lok Sabha elections 2024 tomorrow in Mumbai.

The normal trading will start on Tuesday. However, the next holiday is scheduled after May 20. Which is June 17 for Bakrid.

Meanwhile, on saturday, the stock exchange organized special session for trading, where investors showed interest, as market closed on green mark.

In BSE, the sensex closed down at 73,959 points, which is the rise of 42 points. In similar manner, Nifty of NSE, closed down at 22,502 points with 35.91 points.

At this situation, Nestle India, Power Grid, Tata Motors, Hindalco, ONGC, Divis Lab, and TCS witnessed an increase in their share prices.

Moreover, after much uncertainty due to electoral outcome, Dalal Street is now showing bullish growth. According to experts, they expect, that this positive trend will continue.

As per Brokerage Prabhudas Lilladher’s report titled ‘India Strategy Report – Mandate 2024, Brace of Volatility, it hopes the continuation of policy, if BJP Led NDA secures its third term and expects, that themes around infrastructure, defense, capital goods (CG), new energy, and tourism will continue to perform well.

Now coming to Elections, the six seats of Mumbai are going on Polls on Monday. These seats are- Mumbai North, Mumbai Northwest, Mumbai Northeast, Mumbai North Central, Mumbai South and Mumbai South Central.

While other constituencies of Maharashtra, that will go on polls, this ongoing fifth phase of the election, include Dhule, Dindori, Nashik, Kalyan, Palghar, Bhiwandi and Thane.

All-in-all, voting in Maharashtra has been concluded in first four phases. While the remaining fifth phase will be held on May 20.

Subsequently, the counting and its results will be declared on June 4th.