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Oil slide powers India's stock benchmarks to longest weekly winning run 7 months
Indian stock markets achieved their longest winning streak in seven months, with the Nifty 50 and BSE Sensex closing higher. Falling crude oil prices and measures to boost the rupee and attract foreign investment bolstered investor confidence. The Reserve Bank of India's stance against near-term rate hikes also supported sentiment, with the pharma and financial sectors showing notable gains.
Nuvama expects near double-digit growth in FMCG despite weak monsoon concerns
Abneesh Roy, Executive Director at Nuvama Institutional Equities, expects paint companies to sustain double-digit revenue growth despite lower crude prices. He sees Reliance's Campa Cola as a formidable long-term competitor in the consumer space and remains positive on Trent due to improving valuations and strong growth potential.
Nifty 50 reclaims 24,000: Five market experts predict the index's short-term outlook
The Nifty 50 index has surged past the crucial 24,000 mark, driven by short covering and lower crude oil prices. Market experts share their insights on resistance levels, potential pullbacks, and what investors can expect in the near term.
Ruchit Jain of Motilal Oswal suggests AXIS Bank, Genus Power shares to buy for the short term
Indian equity benchmarks surged today, driven by falling crude oil prices and supportive comments from the RBI Governor. The Nifty 50 rose 0.95%, while the BSE Sensex gained 1.27%. However, the broader market remained weak, with smallcap and midcap indices declining.
D-Street set for a positive opening as GIFT Nifty trades higher
Indian markets experienced profit booking after a significant rally, influenced by fluctuating crude oil prices and foreign investor sentiment. Analysts anticipate a sideways trading range with a slight downward bias due to global uncertainties and ongoing foreign outflows. The Nifty found support at a key trendline, suggesting potential near-term recovery, while the India VIX saw an uptick, indicating increased market apprehension.
Karnataka HC directs OMCs to honour ethanol offtake pact
State-run oil companies must honor their ethanol offtake agreements, a high court ruled, offering a significant boost to dedicated ethanol producers. The court rejected the oil marketing companies' attempt to deviate from contractual commitments, emphasizing that arbitrary actions cannot be disguised as discretion. This judgment provides crucial relief to ethanol manufacturers who invested based on these long-term pacts, ensuring they receive their contracted quantities.
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.
Petrol, diesel margins back to above pre-conflict levels: Report
State-run oil companies are poised for improved profitability as falling crude prices boost fuel marketing margins. While recent government excise duty cuts have aided this recovery, rising debt levels and potential tax increases pose risks to long-term earnings. Analysts anticipate better performance from the second quarter onwards, especially if oil prices remain below $80 per barrel, with BPCL and IOC seen as preferred investments.
India will be the biggest driver of global oil demand for the next 25 years: OPEC
India is expected to add 8.1 million barrels per day of oil demand between 2025 and 2050—the highest increase globally—as rising incomes, industrialisation and transport needs outweigh the rapid expansion of renewable energy, according to OPEC's latest long-term outlook.
China to return as major oil buyer in August, JPMorgan says, naming its top stock picks
JPMorgan sees Chinas crude imports rebounding from August after an eight year low, trims long term fuel demand outlook, and highlights PetroChina, Nan Ya Plastics and LG Chem as key picks
Vedanta Aluminium vs Power vs Oil & Gas vs Iron & Steel: Which stock should you buy?
Four Vedanta Group companies debuted on the market, with aluminium, iron & steel, and oil & gas shares tumbling while power stocks rose. Analysts advise patience, focusing on business quality over price action. Experts suggest aluminium offers the best risk-reward for long-term investors due to strong demand and cost efficiencies.
Lower crude may not mean cheaper fuel immediately: NIPFP economist
Global crude oil prices may fall after Middle East peace efforts. However, fuel prices in India might not decrease immediately. Oil companies face pressure, and lower crude prices could offer them relief. A peace deal would benefit India's economy and potentially strengthen the rupee. India's long-term growth remains strong, driven by its young population and government initiatives.