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INR losses momentum as dollar index spikes above 100 mark
The Indian rupee slipped in opening trades on Monday tracking sharp spike in dollar index above 100 mark. Dollar index spiked above 100 for the first time in two months following a strong jobs data, driving sooner than expected rate hike by Fed. INR opened at Rs 95.35 per dollar and hit a high of 95.28 so far during the day. On Friday, rupee ended at 95.18. Indian shares are seen opening sharply lower on Monday as investors weigh weak global cues and escalating Middle East tension against strong domestic GDP data as well as the Indian government's decision eliminating the 12.5 percent long term capital gains tax on foreign institutional investment in government bonds. India's economy grew an unexpectedly strong 7.8% year-on-year in the January-March quarter, the government said on Friday, as robust private investment, farm output and construction activity offset the early impact of the Middle East conflict.
Why is market crashing today? Sensex plunges 800 points, Nifty below 23,100. 6 factors behind bloodbath on D-Street
Indian stock markets experienced a significant downturn on Monday. The Sensex and Nifty saw substantial drops. Global market declines and foreign investor selling contributed to the slump. Investor sentiment was negatively impacted. The market capitalization of listed companies decreased considerably. Major index constituents faced losses.
Stock market crash: Sensex slumps over 800 points, Nifty 50 slips below 23,100 amid US-Iran war - 5 key reasons - Mint
Stock market crash: Sensex slumps over 800 points, Nifty 50 slips below 23,100 amid US-Iran war - 5 key reasonsMint
GIFT Nifty up 100 pts, signals positive start for Sensex, Nifty despite global selloff; RBI measures offer... - Moneycontrol.com
GIFT Nifty up 100 pts, signals positive start for Sensex, Nifty despite global selloff; RBI measures offer...Moneycontrol.com
Tech View: Support at 23,000–23,100 zone remains critical for Nifty Bulls
Nifty is trading range-bound with a bearish bias below 23,500–23,860 resistance, while 23,000–23,100 acts as crucial support. Analysts suggest a move above 23,500 could revive buying, with a breakout above 23,860 strengthening the bullish case. Selling persisted, with RSI showing a bearish crossover and call writers outnumbering put writers.
Nifty Bank Outlook Today: A close above this level could extend short covering moves
Technical analysts believe that the 55,000 - 55,100 zone is key for the Nifty Bank and a decisive move above those levels could add another 300 points or more to the index's tally in the short-term.
Trade Setup For June 8: Nifty's Immediate Support Lies At 23,230-23,200 Levels Amid Mixed Global Cues, Market Indecisiveness
However, as long as the index sustains above 23,250, a buy-on-dips strategy remains favourable.
Trade Setup for June 8: Nifty still in a narrow range amidst multiple headwinds
According to analysts, the short-term setup remains constructive above 23,550. A move beyond this level could trigger fresh upside momentum.
F&O Talk: Nifty may consolidate further; Sudeep Shah's strategy on TCS, HDFC Bank, Infosys
Indian stock markets, Sensex and Nifty, closed lower following the RBI's hawkish stance, despite falling oil prices. Analyst Sudeep Shah anticipates a consolidation phase for Nifty, with key support at 23,100-23,050 and resistance at 23,550-23,600. Bank Nifty shows resilience, while IT stocks underperform.
Dalal Street Week Ahead: Will Nifty hold 23,000 as markets test key support?
The markets ended lower this week, with Nifty trading below its 50 and 100-week moving averages. While a crucial support zone near 23,000-23,100 is being defended, a sustained breach could trigger further weakness. The coming week is expected to start cautiously, with selective stock-specific opportunities amidst a sideways trajectory.
Weekly Market Wrap: NIFTY50, SENSEX fall nearly 1%, Nifty Midcap 100 lags; check top gainers & losers - Upstox
Weekly Market Wrap: NIFTY50, SENSEX fall nearly 1%, Nifty Midcap 100 lags; check top gainers & losersUpstox
ICICI Prudential AMC caps gold ETF subscriptions amid demand surge
The company said it will not accept direct subscriptions of more than 250 million rupees ($2.63 million) in the ETF until further notice