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Nifty Bank surges 700 points to one-month high; HDFC Bank, Yes Bank, PNB, other stocks rise 2%. What lies ahead?
Bank stocks saw a significant jump on Friday, propelling the Nifty Bank index to a one-month peak. This surge followed news of a potential peace deal between the US and Iran. Oil prices declined and the Indian Rupee strengthened, boosting overall market sentiment. Several major bank stocks experienced gains, indicating renewed investor confidence in the banking sector.
INR pares initial losses and settles largely unchanged
The Indian rupee was largely flat and settled almost unchanged at Rs 95.43 per dollar, down just 2 paise on Wednesday, amid likely intervention from the Reserve Bank of India (RBI) to curb excessive volatility and prevent a further slide in the domestic unit. Rupee pared its initial losses as crude oil prices and the US dollar index retreated from their elevated levels. Indian shares gave up early gains to end little changed on Wednesday as investors weighed rising U.S.-Iran tensions and awaited key U.S. inflation data later in the day for fresh insights into market expectations for future interest rates in the face of rising energy-driven inflation risks. The BSE Sensex ended the day at 73,983.18, up by 64.42 points (0.09%), while the NSE Nifty 50 settled at 23,214.95, slipping by 27.15 points (-0.12%).
Top Gainers & Losers on June 10: Oil India, NLC India, Manappuram, Indian Bank, Redington, among top losers - Mint
Top Gainers & Losers on June 10: Oil India, NLC India, Manappuram, Indian Bank, Redington, among top losersMint
Banks pay 7% on dollar deposits as India seeks fresh foreign currency
Indian banks are significantly increasing rates on foreign-currency deposits to attract overseas residents, testing the central bank's new measures to boost capital inflows and support the rupee. This strategy aims to strengthen the currency amidst high oil prices and intense domestic deposit competition.
Ruchit Jain of Motilal Oswal suggests Grasim, Bank of Maharashtra shares to buy for the short term
Indian equity benchmarks rose on Wednesday, driven by gains in FMCG, oil & gas, financial, and IT stocks, despite geopolitical tensions. The Nifty 50 increased by 0.5% and the BSE Sensex by 0.7%, indicating a strong market sentiment amidst consolidation and support at key levels.
Nifty 500 Q4 Review: HDFC Bank, Indian Oil, Tata Motors Among Top Winners, Losers; Key Sector Trend — Read Motilal Oswal's Report
Of the 23 key sectors, 14 posted double-digit profit growth in Q4 FY26.
GIFT Nifty rises 100 points, hints at positive start; key trading cues for today
Indian markets closed higher on Tuesday, boosted by banking and financial stocks. The Reserve Bank of India's new forex swap facility eased overseas borrowing concerns. Market sentiment improved with hopes of a Middle East truce and falling crude oil prices. Investors remain watchful due to ongoing geopolitical tensions and inflation worries.
Explained: How AI mania has thrown India Inc out of MSCI EM's top 10 and world's top 100 list
Indian companies are no longer in the top 10 of the MSCI Emerging Markets Index. A surge in AI stocks has shifted global capital. Taiwan and South Korea's chipmakers now dominate the index. Reliance Industries and HDFC Bank have fallen in global rankings. India's market weight has hit a six-year low. This concentration is driven by strong company growth.
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.
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%).
Rupee opens 7 paise lower at 95.06 against US dollar
The Indian rupee opened at 95.06 against the US dollar, weakened by crude oil price volatility and foreign investor selling. Despite nearly $25 billion in outflows, the rupee has remained stable due to central bank interventions. Market focus now shifts to RBI policy and US-Iran negotiations.
INR traded with a depreciating bias amidst widening of merchandise trade deficit and rise in oil prices: RBI annual report 2025-26
The Indian Rupee (INR) traded with a depreciating bias during the year amidst trade related uncertainties, geopolitical tensions, and foreign portfolio investment (FPI) outflows in the equity segment, RBI noted in its annual report 2025-26. The Indian Rupee (INR) experienced bouts of volatility amidst rise in geopolitical tensions and tariff related uncertainties. The widening of merchandise trade deficit and rise in oil prices during the last quarter added to the headwinds. The Reserve Bank intervened in the forex market through operations in the onshore/ offshore OTC and exchange traded currency derivatives segments to maintain orderly market conditions and contain excessive volatility in the exchange rate, the report noted.