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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.
Benchmarks pare steep losses; Sensex slides 304 points, Nifty ends below 23,450
The domestic equity benchmarks staged a sharp recovery from intraday lows on Wednesday as bargain hunting emerged after the morning selloff. The Nifty, which slipped to an intraday low of 23,151.50, rebounded nearly 250 points and climbed back above the 23,400 mark in late trade. Sentiment improved as investors accumulated beaten-down stocks. However, caution persisted amid uncertainty surrounding U.S.-Iran ceasefire negotiations, which kept global energy markets volatile and crude oil prices elevated. Despite the recovery, the index settled below the 23,450 level, weighed down by weakness in IT and FMCG stocks. Analysts said the Nifty remains technically weak, with immediate support seen at 23,300 and resistance at 23,600.
Broader markets crash! Physicswallah, Coforge, other small & midcap stocks tumble up to 6%. Do you own?
Indian smallcap and midcap stocks plummeted on Wednesday due to persistent FII selling, a weakening rupee, and global factors. IT stocks, which had surged previously, saw a sharp selloff, with major players like TCS and Infosys dropping significantly. Analysts point to energy shocks and current account deficit concerns impacting market sentiment.
Small-cap stocks to buy: Chalet Hotels, Minda Corp, Navin Fluorine among Axis Securities’ top stock picks for June
Small-cap stocks to buy: The smallcap stock picks for June are Ujjivan Small Finance Bank, Chalet Hotels, Minda Corporation, Navin Fluorine International and Kalpataru Projects International shares.
AI Momentum, Oil Relief, And Nifty's Next Move | Niraj Shah Decodes Global Crosscurrents
Indian equities are starting the new month and derivatives series in a consolidation mode.
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.
Ahead of Market: 10 things that will decide stock market action on Tuesday
Indian equity benchmarks extended gains for a third consecutive session as strong buying in banking, financial, energy and auto stocks lifted market sentiment. Analysts signalled bullish technical momentum for Nifty, while broader market breadth, lower volatility and strong participation across sectors supported the rally.
Market Trading Guide: Buy Ram Ratna Wires and Tata Motors PV on Monday for gains up to 12%
Nifty extended gains for a third straight session, supported by buying in financials, energy and auto stocks. Analysts highlighted improving technical momentum and recommended Ram Ratna Wires and Tata Motors Passenger Vehicles after bullish breakout patterns, rising volumes and strengthening market sentiment indicated further upside potential.
IRFC signs Rs 13,527 cr term loan agreement with L&T Metro Rail (Hyderabad)
The refinancing follows the transfer of 100 per cent ownership of L&TMRHL from Larsen & Toubro to the Government of Telangana through Hyderabad Metro Rail (HMRL), transforming the metro network into a strategic public mobility asset under state ownership and creating a stronger financial foundation for the phased expansion of Hyderabad's metro ecosystem.