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Jane Street Faces SEBI Crackdown for ₹36,500 Crore Market Manipulation in India

July 4, 2025, 6:58 pm

SEBI has initiated a significant crackdown against US-based trading behemoth Jane Street, alleging that it has been manipulating Indian markets to reap illegal returns. The regulator has suspended four Jane Street-associated entities from trading in India and asked them to give back ₹4,843 crore of suspected unlawful returns.

The company allegedly employed “pump-dump” strategies and expiry-day index manipulation to skew Nifty and Bank Nifty levels and generate gains on options trades. It has rebutted the allegations.

What Is Jane Street?

Jane Street is a proprietary quantitative trading firm established in 2000. Based in the US, it has more than 3,000 employees and offices across 45 countries. Its annual revenue was reported to be $20.5 billion in 2024. Its Asia presence, particularly Hong Kong, is growing very quickly.

How Jane Street is Operated in India?

During the period from January 2023 to March 2025, Jane Street made approximately ₹36,671 crore in India by trading in index options. SEBI has now marked ₹4,843 crore of this amount as illegal.

It initially caught the attention of Indians in 2023 when it sued hedge fund firm Millennium Management in a US court. That action reported Jane Street had made $1 billion in India alone on a high-frequency options trading strategy. Press reports in 2024 raised alarms about its trading conduct, and SEBI began a formal investigation.

What SEBI Found?

SEBI’s interim order accuses Jane Street of manipulating Nifty and Bank Nifty index levels on 21 expiry days between January 2023 and May 2025. The firm allegedly used two main tactics:

Morning Pump, Afternoon Dump: Jane Street bought large volumes of Bank Nifty stocks and futures in the morning, artificially pushing the index up. It then sold aggressively later, dragging the index down and creating misleading price signals.

Expiry Day Index Manipulation: On expiry days for options, it made huge trades close to closing times to distort index levels and affect options prices.

The outcome

₹44,358 crore earned from index options
₹7,208 crore in stock futures
₹191 crore lost in index futures
₹288 crore lost in cash market

All these losses notwithstanding, a net profit of ₹36,671 crore was made by Jane Street. SEBI regards ₹4,843 crore of this as illegal and has directed their disgorgement.

Action Taken by SEBI

SEBI has prohibited the following from the securities market:

JSI Investments
JSI2 Investments Pvt Ltd
Jane Street Singapore Pte Ltd
Jane Street Asia Trading

SEBI has also instructed banks to freeze withdrawals from such firms unless permitted by the regulator. The agency explained that Jane Street persisted in its trading practices even after being given a clear warning by NSE in February 2025. SEBI stated the firm demonstrated “clear disregard” for regulatory supervision and could not be regarded as a “good faith actor.”

Sensex and Nifty Reach New Record Highs After US Fed Cuts Interest Rates by 50 Basis Points

September 19, 2024, 10:21 am

The Indian stock market experienced a surge on Thursday, responding positively to the US Federal Reserve’s decision to cut interest rates by 50 basis points—the first reduction since 2020. The Nifty at the National Stock Exchange surpassed the 25,500 mark for the first time, while the Sensex at the BSE climbed to 83,684.18. The Nifty Bank also hit a record high of 53,353.

On Thursday, the NSE Nifty 50 opened 0.47% higher, and the Sensex rose by 0.51%. In the early trading hours, stocks such as LTIMindtree, NTPC, Wipro, Tech Mahindra, and Infosys emerged as major gainers, while ONGC and Bharti Airtel were among the significant losers. Most sectors saw positive openings, except for Media and Oil and Gas.

Global investors had anticipated the Fed’s rate cut, which adjusted the target range for the federal funds rate to 4.75% to 5.0%. In the US markets, however, stocks closed lower following the announcement, with the S&P 500 down 0.29% at 5,618.26, the Nasdaq Composite falling 0.31% to 17,573.30, and the Dow Jones Industrial Average decreasing by 103 points, or 0.25%, to finish at 41,503.10.

Following the Fed’s decision, investors are now looking for potential rate cuts from central banks in emerging economies. Deepak Ramaraju, Senior Fund Manager at Shriram AMC, noted, “The rate cut surprised some market participants. The Fed will likely await incoming macro data before making further monetary decisions, which could mean that future cuts might be less aggressive and more spaced out. This adds uncertainty to equity markets, which reacted negatively and ended lower.”

He added, “Emerging economies may consider rate cuts as well. Domestically, the RBI will be data-focused and may implement a rate cut in December or the fourth quarter of FY25. While foreign institutional investor (FII) flows may be outbound in the short term, they could return to India as the US dollar weakens. Overall, the markets are expected to remain in a range with a positive bias.”

Varun Aggarwal, MD of Profit Idea, mentioned, “Technical analysis indicates that a false downside breakout might occur from the recent narrow range, keeping the short-term trend positive.”

Hindenburg’s Fresh Report: How Will Stock Market React Today?

August 12, 2024, 9:25 am

The previous week saw volatility in the Sensex and Nifty due to global concerns about a possible US recession. Market experts are now anticipating further fluctuations today, influenced by new allegations from the US short-seller firm Hindenburg against SEBI chief Madhabi Puri Buch and her husband, Dhaval Buch.

These claims are expected to affect the stock market, particularly impacting Adani Group companies, including Adani Enterprises Ltd, Adani Power, Adani Green Energy Ltd, and Adani Energy Solutions Ltd, along with shares of 360 ONE WAM Ltd. Additionally, listed REITs may come under scrutiny, as Hindenburg alleged that SEBI proposed and implemented various REIT regulations.

Despite the potential for market disruption, analysts believe any impact will be temporary and short-lived. Vinit Bolinjkar of Ventura Securities commented that Hindenburg’s allegations are a “recycling” of old information, without any new evidence of wrongdoing, describing it as “old wine in a new bottle.”

Deepak Shenoy of Capitalmind expressed a similar sentiment on X (formerly Twitter), suggesting that the report leans toward sensationalism with little substance. Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, noted that most of the claims in the report are already known to the market and do not pose a significant threat to the Adani group’s long-term earnings potential, aside from a possible short-term reaction.

Sensex and Nifty Close Flat After Hitting Record Highs

July 29, 2024, 4:46 pm

The stock markets closed relatively flat on Monday, despite both the BSE Sensex and the NSE Nifty reaching new all-time highs earlier in the day. The BSE Sensex rose by 30.39 points to end at 81,363.11, and the NSE Nifty gained 7.60 points, closing at 24,842.45. These modest gains were driven primarily by strong performances in banking stocks and Larsen & Toubro.

During intraday trading, the Sensex peaked at 81,908.43, while the Nifty hit a high of 24,999.75 before settling lower. Out of the Nifty companies, 25 saw advances, and 25 experienced declines. The top performers included Divi’s Lab, BPCL, Larsen & Toubro, Bajaj Finserv, and M&M. In contrast, the major losers were Bharti Airtel, Titan, Cipla, ITC, and Tata Consumer Products.

In the broader market, the BSE MidCap index increased by 0.4%, and the SmallCap index rose by 0.8%. The Nifty PSU Bank index surged over 3%, reflecting strong investor confidence in public sector banks. The realty sector also saw a positive movement with a 1.68% increase.

Meanwhile, the Indian Rupee fell to a record low due to heightened demand for dollars from importers. Analysts predict a continued negative trend for the rupee due to end-of-month dollar demand and a potential recovery in the US dollar ahead of the Federal Open Market Committee (FOMC) meeting. However, the strength of the domestic market and new Foreign Institutional Investor (FII) inflows might offer some support.

In the commodities market, WTI crude oil prices fell by 4.6% last week, marking the third consecutive weekly decline due to weak demand from China and geopolitical uncertainties in Gaza. Oil prices slightly increased to USD 77.4 per barrel but stayed near the weekly lows. The upcoming OPEC+ meeting on August 1 and recent positive industrial profit data from China are critical factors to monitor.

Varun Aggarwal, founder and managing director of Profit Idea, noted that investors remain cautious ahead of several central bank meetings this week, including those of the Federal Reserve (FOMC), the Bank of England (BoE), and the Bank of Japan (BoJ). These meetings are expected to provide essential insights into future monetary policies, which will influence market directions in the near term.

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.

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.

Market Reactions To Lok Sabha Election Results: Examining Past Vote-Count Day Trends

June 4, 2024, 9:12 am

Analysts assess historical stock market reactions to Lok Sabha election outcomes, anticipating implications for the 2024 results. The stock market has historically demonstrated sensitivity to political events, with election outcomes influencing market behavior, particularly in response to pro-business and stable government victories.

Vinod Nair, head of research at Geojit Financial Services, notes the optimistic market sentiment following exit polls favoring a BJP-led victory. Nair highlights a surge in public sector undertakings (PSUs) and anticipates further market re-rating amid expectations of continued reform momentum.

Neeraj Sharma, AVP of technical and derivatives research at Asit C. Mehta Investment Intermediates, observes bullish market activity on Dalal Street, with record-high openings for the Sensex and Nifty. Sharma attributes this to broad-based buying, particularly in sectors like capital goods, PSU banks, oil and gas, power, and real estate, which saw gains of 5-7%.

To contextualize the market’s response, analysts analyze the market reactions on the result days of the past four Lok Sabha elections, starting from 2019:

2019 Lok Sabha Election Recap:

Date: May 23, 2019
Market Reaction: Positive response to BJP’s decisive victory under Narendra Modi’s leadership. Sensex surged over 1,000 points (around 3.5%), with Nifty also witnessing substantial gains.
Reason: Investors welcomed the continuity of a stable government and anticipated ongoing economic reforms to stimulate growth.

According to data compiled by Livemint, while both Sensex and Nifty remained flat overall in 2019, they experienced intraday fluctuations:

Sensex Intraday High: 40,124.96
Sensex Intraday Low: 38,651.61
Nifty Intraday High: 12,041.15
Nifty Intraday Low: 11,614.5

As India prepares for another pivotal election outcome, market participants closely monitor political developments, anticipating their implications on investment sentiment and market dynamics.

Nifty-Sensex Rally Continues Amid Diminishing Election Result Uncertainty

May 24, 2024, 10:21 am

Indian stock indices Nifty and Sensex commenced trading on Friday with minimal change, remaining close to the record highs achieved the previous day. The Nifty Index opened at 22,930 points, nearing the significant 23,000 mark, while the Sensex continued its momentum from Thursday, starting near 75,335, close to the 75,500 level.

Ajay Bagga, Banking and Market Expert, commented on the substantial net inflow of Rs 4670 crores by FIIs on Thursday, highlighting the importance of monitoring FII activity leading up to the market close on May 31st, the last trading day before the June 1st Exit Polls. Bagga anticipates a moderately positive market amidst diminishing election uncertainties.

Both indices achieved historic highs on Thursday, with the Nifty 50 surpassing the 22,900 mark. The Sensex climbed by 1,196.98 points to 75,418.04, while the Nifty 50 rose by 369.85 points to 22,967.65.

Shrikant Chauhan, Head of equity research at Kotak Securities, pointed out a bullish signal on the daily chart indicating a potential market breakout, with key support levels projected at 22,800/75,000. Chauhan suggested a buying strategy for select stocks within the range of 22,800 to 22,850 levels.

In broader market trends, major indices such as Nifty Next 50, Nifty 100, Nifty Midcap, and Nifty Smallcap began Friday’s session with gains. Among sectoral indices, Nifty Bank and Nifty Financial Services followed the upward trend, while Nifty Auto, Nifty FMCG, and Nifty IT experienced slight declines in the opening session.

In Asian markets, selling pressure persisted, with Japan’s Nikkei index declining by over 1.17 percent, Hong Kong’s Hang Seng dropping by 1.28 percent, and Taiwan’s Weighted Index losing 64 points to reach 21,543. Similarly, China’s Shanghai Composite Index fell to 3,110.09.

In commodity markets, gold prices decreased to 71,500 rupees, marking a decline of over 2,000 rupees in three days following the US Fed’s announcement of policy meeting minutes, which indicated no recent rate cuts.

Indian Stock Markets Rebound From Early Losses, Nifty-Sensex Gained At Closing

May 13, 2024, 5:34 pm

Indian stock markets showed resilience on Monday as they bounced back from initial declines. The Sensex edged up by 0.20 percent to close at 72,809.67, while the Nifty50 ended 0.29 percent higher at 22,120.05 after hitting a low of 21,821 earlier in the session.

Several prominent stocks contributed to the positive momentum in the Nifty 50, including Cipla, Asian Paints, Divi’s Lab, Adani Ports, and Adani Enterprises. Conversely, Tata Motors, BPCL, Shriram Finance, ONGC, and NTPC experienced losses.

Technical analysis by Rupak De, Senior Technical Analyst at LKP Securities, indicated a potential bullish reversal signaled by the hammer pattern on the daily chart. De highlighted the importance of the index’s support levels and resistance zones, suggesting a cautious approach amid market fluctuations.

The market’s recovery on Monday was notable, with most sectoral indices showing gains except for Auto, PSU Bank, Oil & Gas, Consumer Durables, and Media sectors. Sectors like Pharma, Healthcare, and Metal were among the notable gainers.

Internationally, global stock markets were buoyed by expectations of positive economic data releases, including U.S. inflation figures and Chinese activity data. Chinese authorities’ stimulus efforts, such as plans to sell 1 trillion yuan in longer-dated bonds, also influenced market sentiment.

In terms of market performance, the Nifty 50 witnessed 29 stocks closing higher and 21 stocks ending in the red. Market breadth on the NSE reflected mixed sentiments, with 1134 stocks advancing, 1500 declining, and 106 remaining unchanged out of a total of 2,740 stocks traded.

While global stock indices are reaching new highs, factors such as the U.S. economy’s strength supporting the dollar and the Bank of Japan’s hawkish stance impacting bond yields continue to influence currency and financial markets. Investors are advised to stay vigilant and monitor key economic indicators and market trends for informed decision-making in the coming sessions.

Indian stocks off to a weak New Year, trading marginally lower in red

January 1, 2024, 11:23 am

The Indian stock indices had a slightly negative start to the New Year, carrying over losses from the previous trading session. This was mainly because investors were taking profits following an impressive 2023 cumulative performance. As analysts have noted, high valuations are also cause for concern. The benchmark indices, Sensex and Nifty, settled the session marginally lower on Friday, the final active session of 2023, mainly as a result of profit booking and muted global cues. Investing in Indian stocks has yielded excellent returns for investors over the last 12 months. Despite some volatility, primarily during the Adani-Hindenburg scandal and more recently during the early stages of the Israel-Hamas conflict, stock market investors saw substantial financial gains in 2023.

In 2023, Sensex and Nifty gained 18-19 per cent, on a cumulative basis. The indices had gained a mere 3-4 per cent in 2022.
Foreign Portfolio Investors (FPIs) have trained their sight towards India, becoming net buyers in the country’s stock market in the calendar year 2023.
In December, especially, they made a beeline to invest in Indian stock markets, with a cumulative accumulation of Rs 66,135 crore. To put it into context, the entire year saw an inflow of about Rs 171,107 crore, and notably, over one-third of it came in December. In November, the FPI inflow was Rs 9,001 crore, data from the National Securities Depository (NSDL) showed.

Nifty Achieves Historic Milestone, Surpasses 21,000 Mark Amidst Positive Market Trends

December 8, 2023, 1:20 pm

In a historic development, the Nifty index marked a new pinnacle, crossing the unprecedented 21,000 level for the first time on Friday, December 8. Soaring as high as 105 points in intra-day deals, the Nifty index culminated at 21,006.10, showcasing an upward momentum from the previous day’s close at 20,901.15. Notably, it took the Nifty just 61 sessions to ascend from 20,000 to 21,000 after reaching the 20,000 mark on September 11 earlier this year.

Simultaneously, the Sensex also achieved a record high of 69,888.33 in intraday transactions, registering a substantial gain of nearly 367 points. The surge in the market was fueled by the Reserve Bank of India’s decision to maintain the repo rate at 6.5%, coupled with an upward revision in the FY24 GDP forecast to 7% from the prior estimate of 6.5%. Despite retaining the FY24 CPI inflation projection at 5.4%, the Monetary Policy Committee reaffirmed its commitment to a policy stance focused on the “withdrawal of accommodation.”

Anticipating short-term market dynamics, experts predict a range-bound behavior for the Nifty within 20,850-21,000, citing support levels between 20,675 and 20,725, with resistance expected in the 20,940-21,000 range. The Bank Nifty is also forecasted to find support in the 46,500-46,650 range, encountering resistance between 46,925 and 47,000.

This momentous achievement marks the fifth session in December where the Nifty has reached a record high. Factors contributing to this surge include continued foreign investor inflows, robust macro data, declining crude oil prices, and supportive global market trends. As the market undergoes a period of consolidation around current levels, industry experts foresee the initiation of the next phase of the market rally.

Nifty50 – A Journey from 1,000 to 21,000 In a recent report by NSE, it was revealed that Nifty 50, which commenced its journey in November 1995 with a base value of 1,000, reached the remarkable milestone of 20,000 on September 11, 2023. This journey spanned over 27 years, 10 months, and 8 days, with the first 1,000-point rise taking Nifty 9 years, 1 month, and 10 days. The index touched the 2,000 level on December 14, 2004, marking a significant evolution in India’s financial landscape.

Stock Market Wraps Up with Impressive Gains and Bullish Trend

December 6, 2023, 4:18 pm

The Indian stock market continued its upward stride on Wednesday, marking substantial gains as both the Sensex and Nifty surged ahead. The Sensex concluded at 69,653.73, climbing by 357.59 points, while the Nifty closed at 20,937.65, rising by 82.55 points. Amidst Nifty companies, 29 showed progress while 21 faced declines, showcasing a mixed trend.

Top contributors to the bullish sentiment were Wipro, LTIMindtree, ITC, LT, and TCS, while Adani Enterprises, Eicher Motors, CIPLA, NTPC, and Axis Bank experienced setbacks, reflecting varied sectoral performances.

Varun Aggarwal, Founder and Managing Director of Profit Idea, highlighted India’s economic prospects, citing a SandP Global Ratings report that foresees India as the third-largest global economy by 2030. Emphasizing India’s growth potential, Aggarwal urged investors to seize this lucrative opportunity, indicating sectors like petrochemicals, IT, FMCG, media, metals, and banking as favorable investment domains.

However, Aggarwal cautioned about potential short-term resistance at 21,000 levels for the Nifty, advising traders to exercise caution and maintain stop-loss strategies due to overbought RSI on daily time frames.

Acknowledging the ongoing bullish momentum, Aggarwal projected a medium-term target of 21,234–21,410, yet suggested a possible retracement near the 21,000 mark in the short term. He emphasized the importance of portfolio hedging or implementing risk-defined strategies for investors and traders in anticipation of a corrective phase.

The market outlook remains bullish in the larger time frame, Aggarwal asserted, advising investors to focus on the inherent potential rather than short-term index fluctuations.

Stock market opens lower, and the Sensex and Nifty start to decline

November 1, 2023, 12:29 pm

The benchmark indices, Sensex and Nifty, both registered a downward opening in the red as the stock market began its trading day on a bearish note.

The Sensex opened 141.00 points down, commencing the day at 63,809.35. Similarly, the Nifty started with a decline of 13.40 points, opening at 19,070.30. Within the Nifty index, there were 37 advances, 12 declines, and 1 remained unchanged, depicting a mixed start to the day.
Among the Nifty companies, Bajaj Auto, LT, Dr Reddy, Cipla, and SBI Life were the notable gainers at the market opening. In contrast, Bharti Airtel, HDFC Bank, Axis Bank, Hindalco, and JSW Steel faced declines, marking them as the top losers early in the trading session.

“Asian markets soared up to 2 per cent (Japan Index) and US markets advance over 0.5 per cent ahead of the Federal Reserve’s interest rate decision to be released today (India impact tomorrow), and Bank of Japan kept interest rates unchanged on Tuesday,” stated Varun Aggarwal, founder and managing director of Profit Idea. Following the release of positive quarterly results, the US Vix experienced a significant 10% decline to 18 level, and in October, US consumer confidence fell to a five-month low. The early market sentiment was significantly shaped by the dynamics of the global market. Asian markets saw significant increases, with the Japan Index rising to 2%.

Stock market opens in red territory

October 26, 2023, 11:51 am

The stock market opened flat in the red today, extending the bearish sentiment that has been present. The market continued its downward trend. The Nifty opened at 18964.75, down 156.45 points, while the Sensex saw a notable decline of 481.30 points, opening at 63564.74. There were 46 declines and 4 advances among the Nifty companies. The biggest gainers were Axis Bank, HCL Technology, and IndusInd Bank, providing some optimism in the midst of the gloom. Nevertheless, significant losses were experienced by businesses like Tech Mahindra, Hindalco, M&M, Adani Enterprises, and Bajaj Finserv, which contributed to the general pessimistic outlook.

Varun Aggarwal, founder and managing director Profit Idea, said, “Yesterday’s positive opening, Nifty reversed early gains and ended nearly 1 per cent lower to close a 3-month low below the 19200 mark. Downside momentum continued and its effect can be seen on today’s opening as well. Nifty has reached nearly 19000 levels. Today being FO expiry, 19000 OI is maximum, it will be important for bulls to defend this crucial technical as well as psychological level on index”.
The market’s negative momentum persisted from the previous day, where Nifty experienced an early surge only to close nearly 1 per cent lower, marking a 3-month low below the 19200 mark.
The downward trend was exacerbated by today’s futures and options expiry, with 19000 being the maximum Open Interest (OI). Analysts emphasize the importance of defending this crucial technical and psychological level to prevent further declines.

The Indian stock indices are still rising

October 11, 2023, 11:04 am

Benchmark indices for Indian stocks continued to rise on Wednesday, maintaining the gains made the day before. The Nifty and Sensex have increased by 0.5 percent since Tuesday’s closing bell. Following gains in financial, automotive, and IT shares on Tuesday, benchmark indices Sensex and Nifty rebounded nearly 1% from their Monday losses brought on by the Israel-Hamas conflict. The growth projection of India was raised by the multilateral agency IMF, which probably helped the stock indices. The IMF revised its forecast for this fiscal year to 6.3%, which is 20 basis points (one percentage point is equivalent to 100 basis points) higher than what it had predicted in its earlier report. The IMF ascribed the growth estimate’s upward projection to India’s higher-than-expected April–June consumption.

IMG has raised India’s growth outlook for the second time since April – from 5.9 per cent in April, 6.1 per cent in July, and 6.3 per cent now, taking it closer to the 6.5 per cent predicted by the country itself.
The monetary policy committee of the Reserve Bank of India (RBI) in its October review meeting, decided to keep the policy repo rate unchanged at 6.5 per cent, maintaining the status quo for the fourth straight occasion. It too lent some stability to the domestic financial markets. The repo rate is the rate of interest at which the RBI lends to other banks.

Indian stocks in green after hitting a four-week low

September 29, 2023, 11:33 am

Following a nearly four-week low the previous session, Indian stock indices crept moderately higher on Friday morning, tracking Asian counterparts and reasonably robust overnight US market indications.
The benchmark Sensex and Nifty were both up 0.2% from their Thursday closes. This morning’s leading movers were the Nifty metal, pharma, and PSU bank sectoral indices.

“The ‘triple whammy’ of up-trending dollar, US bond yields and Brent crude is showing signs of easing. If this trend continues it will facilitate a recovery in markets. Stability in the US market yesterday also can be a supportive factor,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Lately, the indices slumped sharply after the US central bank, while keeping its interest rate steady in the September meeting, hinted that it may again hike rates going ahead if need be, in its fight against inflation.

Rising global crude oil prices and the resulting strengthening of the US currency weighed on financial markets as well.
Investors will keenly scrutinize the RBI’s monetary policy meeting, which is set for October 4-6. In a regular fiscal year, the RBI has six bi-monthly meetings to deliberate on interest rates, money supply, inflation outlook, and different macroeconomic variables.

The stock market begins with volatility as the values of the Sensex and Nifty fall

September 26, 2023, 11:17 am

As indices declined at the start of trading on Tuesday, the stock market put investors through a roller-coaster-like experience. Key stock indices experienced a decline as the trading day got underway, indicating a bearish start. Investors became cautious and unsure about the day’s trading prospects as a result of the initial price decline.

The Sensex, representing the top companies listed on the Bombay Stock Exchange (BSE), initiated the trading session on a bearish note, opening 83.43 points lower at 65,935.26.
Simultaneously, the Nifty, mirroring the National Stock Exchange’s (NSE) broader market performance, commenced the day with a 16.60 point drop, starting at 19,657.95.
Throughout the trading day, market participantswill be closely watching the performance of Nifty companies.

Among these, 24 stocks registered gains, while 25 experienced declines, leaving only 1 unchanged. Eicher Motors, Tata Steel, Larsen & Toubro (LT), Dr Reddy’s Laboratories, and UltraTech Cement emerged as the top gainers.
Conversely, Apollo Hospitals, Asian Paints, Tata Consultancy Services (TCS), Tech Mahindra, and Infosys grappled with losses.
Varun Aggarwal, the founder and managing director of Profit Idea, shared his insights on the market’s direction. Aggarwal noted, “Open Interest (OI) data suggests the market may consolidate for some more time, with heavy put writing at 19,500 and call writing at 20,000 Nifty levels.”

Indian stocks continue to decline; look to US Fed policy decision for new cues

September 20, 2023, 1:09 pm

Indian stock indices sharply declined on Wednesday, extending losses from the previous session due to weak overnight US markets, rising crude oil prices worldwide, and a stronger US dollar.

Sensex was at 67,213.98 points, down 382.87 points or 0.57 per cent, and Nifty was at 20,024.60 points, down 108.70 points or 0.54 per cent at the opening bell. India stock exchanges were closed yesterday for trading on the occasion of Ganesh Chaturthi.
On Monday, Indian stock indices closed in the red, with the benchmarks largely witnessing profit booking. Investors may have taken some money off the table after the indices hit their fresh highs last week.

Indian stocks subdued despite reaching record highs

September 18, 2023, 11:19 am

The benchmark Indian stock indices saw mild profit taking as they opened the week slightly lower. The indices reached their new highs last week, which may have caused some investors to remove some funds from the market. Due in large part to solid cues from US markets and consistent fund inflows by foreign portfolio investors, Indian stock indices reached new highs on Friday. Also on Thursday, they experienced new highs.

At the opening bell this morning, Sensex was at 67,728.52 points, down 0.16 per cent, and Nifty at 20,176.80 points, down 0.077 per cent.
This week, investors are likely to tread carefully of the U.S. Federal Reserve’s meeting scheduled Tuesday-Wednesday. The US central bank in its July meeting raised its benchmark interest rate by 25 basis points, the highest in the past 22 years at 5.25-5.5 per cent, in its fight against soaring inflation and bringing it back to 2 per cent.

Indian stock indices reached new records

September 15, 2023, 11:25 am

Due in large part to strong overnight cues from US markets and consistent fund inflows by foreign portfolio investors, Indian stock indices reached new highs on Friday. Also on Thursday, they experienced new highs.

Sensex and Nifty hit their fresh all-time highs of 67,774.46 and 20,173.15 points, respectively, at the opening bell. At the time of filing this report, Sensex was at 67,726.82 points, up 0.31 per cent, and Nifty at 20,150.20 points, up 0.23 per cent.

NSE data showed that the sectoral indices of the Nifty banks, Nifty auto, Nifty financial services, Nifty IT, Nifty metal, and Nifty pharma were all in the black, while the Nifty FMCG, Nifty media, Nifty PSU bank, and Nifty realty were just barely in the red. According to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, “Even though the market’s underlying trend is bullish, high valuations and fresh risks like surging crude and rising dollar index can have a negative impact on the market.” According to Vijayakumar, “Brent crude at USD 94 is a major macro worry that the market cannot ignore for long.”

Indian stocks return to the green after a multiple-week losing streak

September 4, 2023, 11:24 am

All sectoral indices in India’s stock market opened positively on Monday as the market continued to advance from the previous week. According to Ajit Mishra, SVP – Technical Research, Religare Broking, markets last week gained almost 1% after a five-week losing streak.

Benchmark Sensex and Nifty were at 65,603.39 and 19,509.95 points, up 0.33 per cent and 0.38 per cent, respectively. Nifty Metal, Nifty IT, and Nifty PSU bank indices were the top movers this morning.
Indian economy witnessing a firm GDP growth rate of 7.8 per cent in the first quarter (April-June) of 2023-24 is likely to have improved investors’ sentiment lately. With a GDP growth of 7.8 per cent, India continues to be the fastest-growing major economy.
Against this backdrop, Morgan Stanley has upwardly revised their economic growth forecast for India for fiscal year 2024 after April-June quarter data showed it grew at its quickest pace in a year. The multinational investment bank raised growth forecast to 6.4 per cent from its earlier estimate of 6.2 per cent.

Notably, in the middle of July, the Sensex first crossed the 67,000 threshold. The bull run in Indian stocks was subsequently fueled by a strong global economy, a strong global stock market, and a relatively moderated inflation rate. According to data from the National Securities Depository (NSDL), foreign portfolio investors (FPIs) have continued to be net buyers in Indian stock markets for the sixth consecutive month as of August.

Stock indices experience early decline amidst global uncertainty

August 25, 2023, 10:33 am

On Friday, the stock market got off to a slow start as early trading saw indices decline.

The Sensex index opened 217.79 points lower at 65,034.55, while the Nifty index was down by 78.70 points at 19,331.25.
Among the Nifty companies, 14 showed advances, while 37 recorded declines at the market opening.
Notable gainers in the Nifty included Bajaj Finance, Bajaj Finserv, ONGC, Asian Paints, and BPCL. Conversely, Jio Financial Services, Dr. Reddy, Cipla, IndusInd Bank, and Hindalco were among the top losers.
Market analysts attributed this early morning decline to global events, particularly the anticipation surrounding the Jackson Hole meeting in the United States. Investors worldwide are eagerly awaiting Federal Reserve Chair Jerome Powell’s speech scheduled for today.

All eyes will be on the Jackson Hole meeting today, said Profit Idea’s founder and managing director Varun Aggarwal in response to the market situation. As markets got ready for Powell’s speech on Friday, stocks dropped. It’s anticipated that the market will remain quiet and cautious. The global market will serve as a guide for Nifty. As the Dow closed at its lowest point of the day in yesterday’s session, the Nifty opened in the deep red. Aggarwal mentioned that “OI support remains at 19200-19000 levels” in order to shed light on potential support and investment opportunities. At 18887, Nifty’s bull market has strong support. In this correction, certain IT, Pharma, financial, and banking stocks can be purchased.

Stock market opens in green as Sensex, Nifty surge

August 21, 2023, 10:31 am

Both the Sensex and Nifty showed gains in early trading as the stock market opened on Monday. Ahead of Jio Financial Services’ IPO on stock exchanges, investors were upbeat as they greeted the new week thanks to favorable economic data and global cues.

At the opening bell, the Sensex, representing the top 30 companies listed on the Bombay Stock Exchange (BSE), showed a significant uptick, rising by 139.79 points to reach 65,088.41.
Simultaneously, the Nifty, tracking the National Stock Exchange (NSE), also made gains, surging by 40.00 points at 19,350.15.

With 39 stocks increasing, 10 declining, and 2 remaining unchanged during the first few minutes of trading, the market seemed to be in a good mood. Companies like Adani Enterprises, Adani Ports, NTPC, Power Grid, and JSW Steel were among the top gainers. These stocks experienced active buying interest and made a significant contribution to the morning rally. Not all stocks, however, had a successful start to the week. Early losses were experienced by companies like M&M, SBI Life, ONGC, Bajaj Finserv, and Maruti, but market analysts predicted that these trends might shift as the trading session went on.

Varun Aggarwal, Founder and Managing Director of Profit Idea, provided insights into the factors shaping the opening market trends.
He said, “China’s 5-year loan prime rate kept unchanged at 4.2 per cent and one-year loan prime rate cut to 3.45 per cent from 3.55 per cent earlier resulting in a stable opening for Nifty. Pause in interest rate cycle suggests rally in the bond market and it can also lead the rally in Nifty & Sensex.”

Stock market sees decline in key indices

August 16, 2023, 10:44 am

Key indices fell during the first few hours of trading on Wednesday, prompting caution in the stock market.

Market sentiment was marked by fluctuations as investors observed a decline in both the Sensex and Nifty indices, reflecting a broader trend of uncertainty in the financial landscape.

As the trading day commenced, the Sensex, the country’s benchmark index, registered a decrease of 233.10 points and registered at 65,179.76 at 10:30 am. This dip raised questions among market participants, signalling the need for close monitoring of market dynamics in the days to come.
Similarly, the Nifty, another influential index, mirrored the downward trend by marking a decline of 71.50 points. The Nifty showed trading at 19,388.55 at 10:30 am, highlighting the challenges and complexities that traders faced in the current market environment.
Market statistics for the day showcased a mixed bag of results. Among the total stocks listed, are 14 advances, 36 declines, and one stock remained unchanged. This distribution emphasized the cautious sentiment prevailing in the market, with investors exercising prudence in their trading decisions.

Stock market sees mixed trends: Sensex, Nifty witness fluctuations

August 9, 2023, 11:18 am

As trading got underway on Wednesday, the stock market experienced some uncertainty. Early fluctuations were seen in both the Sensex and Nifty indices, with the Sensex falling 183.77 points to reach 65,649.73 and the Nifty falling 38.95 points to reach 19,531.65. The trading session that followed, marked by fluctuating share price trends, was characterized by this initial volatility.

As the trading session unfolded, 26 shares recorded gains, 23 shares saw declines, and 2 shares remained unchanged, presenting an intricate interplay of market dynamics.
Notable gainers included Dr Reddy, Adani Ports, SBI Life, Coal India, and Adani Enterprises, contributing to the market’s upward trajectory.
Conversely, Maruti, Hindustan Unilever, Reliance, Indusind Bank, and Hero Motocorp emerged as the top losers at the time of this report.

These swings highlight the precarious balance between market forces and investor sentiment, which leads to a mix of positive and negative trends. Profit Idea’s managing director, Varun Aggarwal, commented on the state of the market. “Nifty and Sensex opened in the red, but the overall market is looking good for more rally,” he said. Markets should remain optimistic and reach new highs. According to Aggarwal, “The majority of the stocks exhibit bullish bias, and the charts point to further upside.”

Indian stocks rise after three straight session losses

August 4, 2023, 10:51 am

The majority of the fresh buying on Friday helped Indian stock indices trade slightly higher after experiencing intense selling pressure over the previous two to three sessions.
At the time this report was being written, the Sensex and Nifty were both 0.3-0.4% higher than where they had closed the day before. All Nifty sectoral indexes were in the green in line with the wider indices, with the exception of Nifty oil & gas, Nifty media, and Nifty auto.

The stock indices declined over the past two-odd sessions due to weak global markets, besides fresh selling by foreign portfolio investors.
Foreign portfolio investors were net buyers for the past five months before turning sellers in August. Data showed they sold stocks worth Rs 2,250 crore thus far in August.
“…FPIs may continue to sell or at least refrain from buying aggressively,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“This is the time to nibble at high-quality large-caps, particularly in banking, capital goods, construction and autos.”

Indian Stock Market witnesses decline on consecutive day

July 28, 2023, 12:02 pm

As the market opened on Friday, the Indian indices kept declining. At the time this article was being written, the Nifty dropped by 0.26% and the Sensex dropped by 0.36%. Twenty of the Nifty companies were green and thirty were red.

Axis Bank, Bajaj Finserv, SBI Life, NTPC, and BPCL were the top losers, while Dr Reddy’s Laboratories, Britannia, Adani Enterprises, Cipla, and M&M were the top gainers. At the end of Thursday, the Nifty was down 0.7% and the Sensex was down 0.6%.

“Investors must exercise caution when pursuing small-cap stocks because they are currently overvalued. In contrast to risky small-caps, large-caps are safe even when they are highly valued, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Indian stock indices rise after US Fed hikes policy rate by 25 bps

July 27, 2023, 10:47 am

Following the US Federal Reserve’s quarter-point increase in interest rates on Wednesday, the Indian stock market saw gains of 0.29 percent in the Nifty and 0.23 percent in the Sensex on Thursday. The indices rose by 0.26 percent as the Indian stock market opened on Thursday. Positive trading occurred on the Indian stock market on Wednesday, with the Nifty and Sensex both finishing the day 0.5% higher.

Out of the Nifty companies, 40 were in green and 9 in red at the start of the stock trading hour.
Power Grid, Adani ports, Divi’s Lab, UPL and Sun Pharma were the top gainers whereas M&M, Tech Mahindra, Hindustan Unilever, Britannia and Eicher Motors were the top losers as of Thursday morning.
Indices increased by a total of 5.37 per cent over the past month.
To address the economy’s rising inflationary pressure, the US Federal Reserve has raised interest rates in a series of successive moves.

The benchmark federal fund rate is at its highest level since 2001, ranging from 5.25 to 5.5 percent at the moment. According to recent data, economic growth has been moderately fast. Significant job growth has occurred recently, and the unemployment rate has remained low. The rate of inflation is still high.

At a longer-term rate of 2%, the US Fed Committee seeks to achieve maximum employment and inflation. In order to further these goals, the Committee decided to raise the target range for the federal funds rate to 5.25–5.5%.

Indian stock indices rise again after trading steady two sessions

July 26, 2023, 10:54 am

On Wednesday morning, trading in Indian stock indices increased. The absence of new bets at higher levels was a major factor in their relative stability over the previous two sessions. Some investors appeared to be taking profits after recently accruing gains. Many analysts have noted that a rally from the current peak seems unlikely given the higher valuations, and that is what has appeared to be happening over the past two or three sessions.

The indices touched all-time highs last week. In the past month, the indices — Sensex and Nifty — have cumulatively gained about 6 percentage points.
Sensex and Nifty were 0.7 per cent higher each at the time of writing this report. Among the Nifty 50 companies, 41 were in the green.
L&T, Reliance Industries, Tata Motors, ITC, and UPL were the top gainers among the Nifty 50 companies, whereas SBI Life, Divislabs, Cipla, Apollo Hospitals, and ONGC were the top losers.

The next US Fed monetary policy meet is scheduled for July 25-26. The outcome of the meeting will be announced Wednesday midnight (Indian time).
The US Federal Reserve’s monetary policy committee paused the key interest rate in its latest meeting. The policy rate has been maintained at 5.0-5.25 per cent, which was near zero after the outbreak of COVID-19.
Barring the latest pause, the US central bank has hiked the interest rate for the tenth consecutive time which was necessitated in the fight against soaring inflation.