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Equity markets are likely to extend their consolidatory phase, as per experts, who suggest that traders maintain a strict stop loss as caution roils sentiment.
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The local currency remains resilient in the last few days due to positive signals surrounding a potential US-India trade deal
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Broader indices exhibited muted trends in early trade, with Nifty Midcap 100 and Nifty Smallcap 100 dipping in the negative territory
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According to Geojit Financial Services, Sowing of summer crops across India progressed to 7.3 million hectares as of Friday, up 15% from 6.3 million hectares sown a year ago, according to data released by the agriculture ministry.
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Nifty, Sensex could continue their consolidation phase, while volatility is expected to remain elevated on account of geopolitical tensions.
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Adani Enterprises, Eternal, Jio Financial, Trent, HDFC Life were among major losers on the Nifty, while gainers were Hero MotoCorp, Tata Steel, Bharti Airtel, M&M, HUL. Except auto, all other sectoral indices ended in the red with PSU Bank index shed 5 percent, Realty index fell 3 percent and pharma, consumer durables, media, oil & gas, power down 1-2 percent. BSE Midcap and Smallcap indices shed 2 percent each.
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FIIs remained net buyers for the 12th consecutive session, supporting the market sentiment as the rupee firmed up against the dollar.
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Last week, Indian rupee witnessed a appreciation of 2.5 percent on positive talks between US and India over tariffs
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Sensex and Nifty surged on Monday amid sustained foreign fund inflows and a sharp drop in crude oil prices.
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At the sectoral level, indices such as Nifty Auto, Nifty FMCG, and Nifty IT posted gains, while Nifty Metal, Nifty PSU Bank, and Nifty Private Bank slipped into the red
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According to Geojit Financial Services, Sowing of summer crops across India progressed to 7.3 million hectares as of Friday, up 15% from 6.3 million hectares sown a year ago, according to data released by the agriculture ministry.
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BSE midcap and smallcap indices added more than a percent each. Except bank, all other sectoral indices ended in the green with auto, power, energy, consumer durables, metal, FMCG, Oil & Gas up 1 percent each. Adani Ports, Adani Enterprises, Trent, Shriram Finance, M&M were among top gainers on the Nifty, while losers were Kotak Mahindra Bank, ONGC, Dr Reddy's Labs, JSW Steel, SBI.
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The announcement that the US and China are open to trade negotiations provided some optimism, but scepticism lingers. Market participants remain wary of how much of this is political posturing versus real progress.
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Oil & gas stocks stole the spotlight, with Reliance Industries leading the charge, and staging a 10 percent rally during the week, its best in five years, becoming the top index gainer on strong earnings.
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On the sectoral front, media, energy, IT, oil & gas were up 0.3-0.7 percent, while power, metal, telecom, pharma, realty, consumer durables were down 0.5-2 percent.
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In today's session, the Smallcap 100 and Midcap 100 indices traded with losses of 0.7 and 0.1 percent. The two are down 6 and 12.5 percent since the start of the year.
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With key U.S. non-farm payrolls report due later today, traders chose to lock in gains amid uncertainty over the global outlook.
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Among sectoral indices, Nifty IT and Bank Nifty continued to trade in the green but gave up part of its early gains
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Investor wealth rose by Rs 3.72 lakh crore on May 2; Adani Ports, Maruti Suzuki, IndusInd Bank among top Nifty gainers
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According to Geojit Financial Services, Sowing of summer crops across India progressed to 7.3 million hectares as of Friday, up 15% from 6.3 million hectares sown a year ago, according to data released by the agriculture ministry.
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Adani Ports, IndusInd Bank, Bajaj Finance, Maruti Suzuki, Tata Steel were among top gainers on the Nifty, while losers included JSW Steel, Eicher Motors, Bajaj Auto, Hero MotoCorp, Nestle. BSE Midcap index was down 0.4 percent, while smallcap index ended flat. On the sectoral front, media, energy, IT, oil & gas up 0.3-06 percent, while power, metal, telecom, pharma, realty, consumer durables down 0.5-1 percent.
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US President Donald Trump’s statement that tariff talks with India are in a positive direction enthused investors, forex dealers said.H
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Foreign investors continue to lend crucial support. In the past 10 trading sessions alone, foreign institutional investors (FIIs) have pumped in a net Rs 37,325 crore into Indian equities.
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Optimism surrounding a potential trade deal between India and the US has also aided the rupee
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Nifty, Sensex are failing to pierce through resistance, signaling that sellers are asserting dominance near higher levels and cautious sentiment still prevails.
