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Market Pulse: Key triggers to watch ahead of the July 3 trading session
Market Pulse July 3: Global cues remain supportive as US stocks traded higher after weaker-than-expected jobs data reinforced hopes of a prolonged pause in Federal Reserve rate hikes. Domestically, investors will track Adani Enterprises’ ₹10,000-crore QIP launch and developments in energy markets after the government ruled out an immediate fuel price cut. Technically, Nifty’s close above its 100-day moving average has improved sentiment, with analysts seeing scope for a move towards 24,300-24,500, while 24,000 remains a key support level.
Stocks to watch: HDFC Bank, Torrent Power, IIFL Finance among shares in focus today; check list here
Stock market today: On Thursday, the Sensex advanced 109.25 points, or 0.14%, to close at 77,100.47, while the Nifty 50 gained 34.35 points, or 0.14%, to settle at 24,056.00
Markets poised for a cautious start as GIFT Nifty trades flat
Indian markets ended Thursday on a high note, with the Nifty 50 climbing nearly 1% from its lowest point. This positive momentum was fueled by declining energy prices, a stronger rupee, and favorable global trends. Analysts anticipate a continued positive outlook for Indian equities, with the Nifty expected to hold above the 24,000 mark, bolstered by stable geopolitical conditions and robust foreign investment.
Sensex closes 109 points higher, Nifty above 24,050; IndiGo, M&M among top gainers
Indian stock markets closed with modest gains on Sensex monthly expiry day, as both indices erased significant intraday advances. Sensex added 109 points to 77,100.47, and Nifty 50 climbed 34 points to 24,056. Strong performances from IndiGo, M&M, and Maruti Suzuki bolstered the gains, while Power Grid shares saw notable declines. The broader market, however, dipped into the red.
Reliance Industries among 5 Nifty stocks showing bullish RSI upswing
Five stocks in the Nifty50 pack featured in the RSI Trending Up scan on June 22 after showing improving momentum. The RSI moved above the 50 mark from lower levels, signalling strengthening price action, improving sentiment and potential short-term buying opportunities for traders tracking bullish technical setups.
Sensex rises 291 points, Nifty tops 24,100 on cooling crude and FII support
Domestic equities advanced on Monday as cooling oil prices and fresh FII inflows fuelled risk appetite. Buying in heavyweight Reliance Industries and healthcare counters propelled the Nifty past the 24,100 level. The gains were partly offset by weakness in consumer durables and FMCG stocks.
Sensex rises 291 points, Nifty tops 24,100: 5 key drivers behind the market rally
Sensex rose 291 to 77094, Nifty gained 90 to 24102, led by HDFC Bank, ICICI Bank, Reliance Industries, Infosys, with IT and pharma stocks like Cipla outperforming
Dollar index renews momentum; US PPI data awaited
The dollar index is edging closer to 100 on Thursday, lingering near its highest levels in two months amid fresh US attacks over Iran and as US consumer inflation accelerated in May to its fastest pace in more than three years due to soaring energy costs. May US inflation accelerated at its fastest pace in over three years due to surging energy costs, though the data matched expectations. Market focus now turns to the upcoming release of May's Producer Price Index (PPI) and Initial Jobless Claims. The yield on the US 10-year Treasury note steadied around 4.55% on Thursday awaiting fresh US economic data for further clues on the Federal Reserves policy outlook.
INR regains momentum with all eyes on RBI monetary policy
The Indian rupee is regaining some momentum in opening trades on Friday as the global crude oil prices eased and market participants keenly awaited the RBI's MPC decision today. Heightened geopolitical tensions between the US and Iran drove energy volatility and aggressive safe-haven buying capped sharp gains in the local unit. INR opened at Rs 95.72 per dollar and hit a high of 95.63 so far during the day. Yesterday, rupee depreciated 7 paise to close at 95.83 against the US dollar. Local markets opened in the green with investors closely watching the Reserve Bank of India (RBI) monetary policy announcement scheduled for today. The Indian benchmark indices are trading higher today, with the NIFTY 50 hovering around 23,442.30 (+0.11%) and the S&P BSE SENSEX trading at 74,556.68 (+0.26%).
Top Gainers & Losers on June 4: Physicswallah, Anant Raj, Force Motors, Hitachi Energy, Voltas among top gainers
The Nifty 50 and Sensex closed 0.14% and 0.03% higher at 23,396 and 74,368, respectively. The broader market, however, outperformed the benchmark indices, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 0.43% and 0.52%, respectively.
Ahead of Market: 10 things that will decide stock market action on Friday
Domestic equity benchmarks ended marginally lower for a second consecutive session as weakness in financial, IT and energy shares offset gains in auto stocks. Analysts expect Nifty to remain range-bound with immediate support near 23,800 and resistance around the 24,000-24,100 zone.
Mirae Asset Sharekhan predicts up to 150% upside in these 3 midcap stocks
Midcaps to buy: Muthuselvaraj, Research Analyst at Mirae Asset Sharekhan expects Adani Total Gas to hit ₹1,850 levels; JSW Energy and Astral to rally over 50% as Nifty MidCap hits new life-time high.