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Trade Setup for May 14: Nifty snaps four-day losing streak, but analysts warn of further downside below 23,100
After Tuesday's sharp sell-off, the index opened on a weak note but witnessed a strong intraday recovery during the first half of trade, climbing to a high of 23,582. However, the momentum faded in the latter half of the session as renewed selling pressure erased most of the gains.
INR seen mildly supported as govt raises gold tariff
The Indian rupee is seen recovering some of its lost momentum from record low levels in opening trades on Tuesday after the govt stepped in to stabilize the local unit. The govt has raised import tariffs on gold and silver to 15%, reversing the 2024 duty cuts, as the government moves to curb surging precious metal imports, narrow trade deficit and support the rupee amid mounting external pressures. INR opened at Rs 95.52 per dollar and rebounded to a high of 95.51 so far during the day. Yesterday the counter closed at 95.68. Indian shares are seen opening little changed on Wednesday after two consecutive heavy sell-off sessions. Yesterday, Indian equity markets experienced a sharp decline, with the Sensex settling 1,456.04 points (1.92%) lower at 74,559.24 and the Nifty 50 falling 436.30 points (1.83%) to close at 23,379.55.
Gainers & Losers: SBI, Indigo and Titan among 8 big movers on Monday
While Nifty plunged 360.30 points or 1.49% to close at 23,815.85, the BSE Sensex settled at 76,015.28, down 1312.91 points or 1.70%.
Sensex sinks 1,313 points as Titan, SBI drag markets; ₹6 lakh crore wiped out in selloff
The Sensex declined 1,313 points to close at 76,015, while the Nifty fell 360 points to settle at 23,816. The selloff erased nearly ₹6 lakh crore in market capitalisation of BSE-listed companies.
Top Gainers & Losers on May 11: Swiggy, Tejas Networks, SBI, Tata Motors, Eternal, Anant Raj among top losers
On May 11, the Indian stock market experienced a sharp decline, with the Nifty and Sensex both recording significant drops. Investor sentiment soured due to rising crude oil prices and stalled U.S.-Iran negotiations.
Nifty Bank crashes 900 points as SBI, IndusInd, Yes Bank, other lender stocks tumble up to 4%. What lies ahead?
The Nifty Bank index plunged nearly 900 points, driven by weak earnings from State Bank of India and broader market sentiment. SBI shares led the decline, while other major banks also saw significant drops. Analysts anticipate continued consolidation in the index, with key support and resistance levels identified.
Ahead of Market: 10 things that will decide stock market action on Monday
Domestic equity benchmarks ended sharply lower on Friday amid rising geopolitical tensions between the US and Iran, rupee weakness and heavy profit-booking in financial stocks. Analysts said the Nifty slipping below key technical levels signals weakening momentum, although select indicators still point towards the possibility of a near-term recovery.
SBI Loses Rs 45,000 Crore In Market Cap After Weak Q4; Emerges As Top Nifty Loser — Check Full List
Bharti Airtel, State Bank of India, Tata Consultancy Services (TCS) and Larsen & Toubro faced erosion from their valuation.
Mcap of 4 most valued firms erodes by ₹1 trn, SBI biggest laggard
The combined market valuation of four of the top-10 most valued firms eroded by Rs 1 lakh crore last week, with State Bank of India taking the biggest hit, amid a range-bound trend in equities. Last week, the BSE benchmark Sensex climbed 414.69 points or 0.53 per cent, and the NSE Nifty went up by 178.6 points or 0.74 per cent. "Indian equity markets witnessed a volatile and range-bound week, with sentiment remaining cautious despite intermittent recovery attempts. Early optimism driven by hopes of de-escalation in the Middle East and easing oil prices faded quickly as renewed tensions between the US and Iran resurfaced," Ponmudi R, CEO - Enrich Money, an online trading and wealth tech firm, said. While Bharti Airtel, State Bank of India, Tata Consultancy Services (TCS) and Larsen & Toubro faced erosion from their valuation, Reliance Industries, HDFC Bank, ICICI Bank, Bajaj Finance, Hindustan Unilever and Life Insurance Corporation of India (LIC) were the gainers from the pack. ...
Sensex Today Ends 516 Points Lower | Nifty Below 24,200 | SBI Plunges 6% - Equitymaster
Sensex Today Ends 516 Points Lower | Nifty Below 24,200 | SBI Plunges 6%Equitymaster
Sensex Today Ends 516 Points Lower | Nifty Below 24,200 | SBI Plunges 6% - Equitymaster
Sensex Today Ends 516 Points Lower | Nifty Below 24,200 | SBI Plunges 6%Equitymaster
Sensex Today Ends 516 Points Lower | Nifty Below 24,200 | SBI Plunges 6% - Equitymaster
Sensex Today Ends 516 Points Lower | Nifty Below 24,200 | SBI Plunges 6%Equitymaster