The rebound in the Bank Nifty index today came even as broader benchmarks were largely flat. The recovery follows a technical breakdown earlier in the week.
Sensex and Nifty gave up early gains today to slip into mild red, as expiry-day volatility and continued foreign fund outflows kept investor sentiment in check.
Sensex and Nifty touched 52-week highs earlier on Monday, extending last week’s rally driven by strong Q2 earnings from heavyweights like Reliance Industries and HDFC Bank, before giving up part of their gains.
Samir Arora of Helios Capital said that the recent phase of relative under-performance has largely run its course and that multiple supportive triggers could restore momentum.
Corporate earnings have begun to show signs of stabilising after a period of very heavy downgrades over the last 12-15 months, said Sanjeev Prasad, Managing Director and Co-Head of Kotak Institutional Equities.
Sensex and Nifty partially recouped losses in the late afternoon. Markets remained cautious as renewed trade tensions between the US and China continued to unsettle investors, even as sentiment abroad showed early signs of stabilising.
Headline indices Nifty 50 and Sensex may see a tempered start in trade for the October 8 session, pressured by poor global cues.
Today's market rally was dominated by hospital, financial, and technology stocks. The sentiment was boosted by strong updates from leading financial institutions; while Healthcare shares surged after the CGHS decision to revise procedure rates.
Stock markets would also be tracking trading activity of foreign investors who remained net sellers of Indian equities in September
India’s largest asset manager warns IT, pharma and consumer heavyweights are “mature, tired models,” driving investor hunger for new-age IPOs, but valuations remain key.
India has added 287 new FPIs this year, so far, even as foreign funds have net sold shares worth Rs 1.5 lakh crore
The Indian share market ended flat with a negative bias on Tuesday, with gains in banking, auto and steel stocks offset by selling in FMCG, IT and select heavyweight counters.
Share Market Today: The H-1B visa-led IT downdraft and softer pharma have overshadowed GST-aided domestic themes, leaving breadth negative and the Nifty below 25,200.
Sensex jumped around 245% from 25,000 in May 2014 to nearly 86,000 in September 2024 under PM Modi's leadership.
Some analysts opine that a 25 bps rate cut by the US Federal Reserve should be expected, while others hint at a bumper 50 bps cut.
The upmove in Indian equities came on the back of upbeat global cues, easing volatility, and rising expectations that the US Federal Reserve will deliver a rate cut at its policy meeting next week.
Improving trade links with the world’s second-biggest economy add to a string of positives for India, including the prospect of further central bank interest-rate cuts
Persistent foreign portfolio outflows, potential impact of US tariffs and stretched valuations are being cited as some of the reasons behind Indian stock markets' underperformance.
On September 1, all sectoral indices, expect FMCG, were trading in the green with IT stocks leading the gains.
The weak market sentiment will likely continue as long as Nifty remains below 24,600 and Sensex below 80,600, said an analyst
According to LSEG IBES data, forward 12-month earnings estimates for India's large and mid-cap firms have been cut by 1.2% in the past two weeks, the sharpest in Asia
In the most recent fund manager survey, 30% said they are underweight on India, followed by 20% for Thailand and 10% for Malaysia
The rebound came after last week’s tariff-driven volatility, which had dragged the Nifty to a three-month low and marked its longest weekly decline in five years
Yesterday's intraday pullback and strong close indicate possible short-term momentum building up for the sessions ahead
Since 2009, Nifty has had a positive close in July on 75 percent of the occasions, making it the month with the best chance of ending with gains, if only looks at the data for last 16 years.