Tag: Nifty

  • India Stock Market Wobbles: Sensex Sinks 372 Points, Nifty Drops Below 24,000 as Profit Booking Deepens

    India Stock Market Wobbles: Sensex Sinks 372 Points, Nifty Drops Below 24,000 as Profit Booking Deepens

    Indian equity markets ended Monday’s session sharply lower, reversing early gains as broad-based profit booking and IT stock weakness dragged benchmarks. The Sensex plunged 372 points to close at 76,728.37, while the Nifty slipped below the crucial 24,000 mark, settling at 23,978. Persistent Systems led the losers, tumbling nearly 8% after announcing its $1.14 billion acquisition of Germany’s Nagarro.

    Market Overview

    Markets opened on a positive note after a long weekend, but selling pressure accelerated through the morning. The Sensex turned negative within the first hour, losing over 200 points, and continued to slide as the session progressed. The Nifty tested the 24,050 level early on but failed to hold support, closing below 24,000 for the first time in several sessions.

    Key Movers

    • Persistent Systems crashed nearly 8% after announcing its proposed $1.14 billion acquisition of Nagarro. Analysts noted long-term strategic benefits but flagged near-term integration costs.
    • HDFC Bank recovered above Rs. 800 after months of selling pressure, providing some support.
    • Ajanta Pharma hit a fresh all-time high above Rs. 3,400, extending its bullish momentum.
    • Anubhav Plast surged over 623%, leading the gainers list amid extreme volatility.

    Broader Market

    The Nifty Smallcap index fell for a second consecutive session, reflecting continued selling in mid- and small-cap stocks. Volatility was elevated, with stocks like Uhm Vacation, IITL Projects, and Euphoria Infotech witnessing sharp swings.

    Key Triggers This Week

    Investors are closely monitoring:

    • First-quarter earnings season
    • Progress of the monsoon
    • Crude oil prices and US-Iran tensions
    • Foreign institutional investor (FII) flows
    • Reserve Bank of India measures
    • Global economic data

    Analyst Views

    Shrikant Chouhan of Kotak Securities highlighted key support at 24,000 for Nifty and 76,800 for Sensex. A break below could trigger further weakness, while sustained trade above may push indices toward 24,200 and 77,500. LKP Securities’ Rupak De recommended a buy-on-dips strategy, with short-term trend remaining positive above 23,800.

    Other Market Developments

    • GIFT Nifty traded marginally higher at 24,098.50, indicating a flat-to-positive start for Tuesday.
    • The Indian rupee opened nearly flat at 94.35 per US dollar.
    • Gold prices declined, while crude oil edged higher amid geopolitical uncertainty.
    • Delhi Cabinet approved a new Electric Vehicle Policy, effective July 1.
    • Adani Energy Solutions board will meet on July 1 to consider fundraising.
    • Power Grid revoked a ban on KEC International, allowing fresh bids.

    The session ended with broad-based weakness, and market participants now await fresh domestic and global cues for direction.

  • Indian Stock Market Rebound: Sensex Ends Near 77,000, Nifty Closes Above 24,000 with Broad-Based Rally

    Indian Stock Market Rebound: Sensex Ends Near 77,000, Nifty Closes Above 24,000 with Broad-Based Rally

    Indian equity markets staged a strong recovery on June 24, rebounding sharply after the previous session’s selloff. The BSE Sensex surged over 830 points to reclaim the 77,000 mark, while the Nifty 50 crossed the 24,000 level, supported by broad-based buying across sectors.

    Key highlights from the session:

    • Benchmark gains: Sensex closed at 76,991.22, up 790.54 points (1.04%), and Nifty settled at 24,021.65, gaining 0.83%.
    • Top movers: Trent led gainers with nearly 4% rise, followed by ICICI Bank (up 2.29%) and HDFC Bank (up 1.30%). Tata Motors rebounded nearly 4%.
    • Sector performance: Banking stocks dominated volumes, with ICICI Bank and HDFC Bank among the most traded. The Nifty IT weight fell to a record low below 7.6% amid AI concerns.
    • Market breadth: MidCap and SmallCap indices lagged, while India VIX declined, signaling easing volatility.
    • Global cues: Easing crude oil prices and mixed US Fed expectations improved sentiment. Japan’s Nikkei fell 0.88% on Fed rate fears.
    • Corporate and other news: Rashi Peripherals to acquire 67% of VDA Infosolutions for ₹368 crore; EMA Partners India acquires Taggd for ₹95 crore; Amitabh Bachchan sold 0.79% stake in DP Wires; Adani Group announced nuclear energy entry targeting 10 GW by 2035.
    • Currency and commodities: Rupee strengthened marginally to 94.6650/USD. Gold, crude oil, copper, and natural gas traded lower.
    • Market closure: Indian exchanges will remain shut on June 26 for Muharram.

    The recovery was driven by return of buying in heavyweight stocks, improved risk appetite, and positive domestic developments. Analysts noted that sustained support from large caps and stable global conditions remain crucial for maintaining momentum.

  • Sensex Holds 77,000, Nifty Targets 24,500 – Key Levels and Market Outlook

    Sensex Holds 77,000, Nifty Targets 24,500 – Key Levels and Market Outlook

    The Indian equity benchmarks are expected to open on a flat note Monday, tracking weakness in global markets amid renewed Middle East tensions. GIFT Nifty traded at 24,093, a discount of 9 points from the previous Nifty futures close, signaling a cautious start.

    Friday’s Market Wrap

    On Friday, the Sensex gained 109.25 points (0.14%) to end at 77,100.47, while the Nifty 50 rose 34.35 points (0.14%) to settle at 24,056. The rupee opened marginally stronger at ₹94.35 per dollar versus Thursday’s close of ₹94.40.

    Foreign Institutional Investors (FIIs) turned net buyers in Indian equities after five consecutive sessions of selling. On June 25, 2026, FIIs net sold shares worth ₹384 crore, while Domestic Institutional Investors (DIIs) net bought ₹5,748 crore.

    Sensex Outlook

    The Sensex formed a High Wave candle on the weekly chart for the second straight week, signaling indecision among traders. However, the index held above the 77,000 mark, keeping the near-term tone positive.

    Resistance: 77,800–78,000 — a clean break above this zone would strengthen the bullish case, according to Aakash Shah, Research Analyst at Choice Equity Broking.

    Support: 76,200–76,400 — expected to attract buying interest from positional investors. A sustained move below this band could trigger consolidation and short-term profit-booking.

    Nifty 50 Outlook

    The Nifty 50 formed a small bearish candle with a long upper shadow on the daily chart, indicating profit booking after a strong intraday rally.

    • Immediate resistance: 25,250–25,300 (confluence of last week’s high and the gap-down area of May 8, 2026).
    • Immediate support: 23,900–23,800 — Bajaj Broking advises using dips as buying opportunities.
    • Key short-term support zone: 23,500–23,600.
    • Major resistance: 24,600.

    The brokerage expects the Nifty to gradually move toward the 24,500–24,600 range over the coming weeks, supported by a positive overall market structure.

    Bank Nifty Outlook

    Bank Nifty rose 26.70 points (0.05%) to close at 58,177.05 on Friday, forming a small-bodied candle with an upper wick, suggesting profit booking at higher levels.

    Target: 59,200 — the 138.2% external retracement of the previous decline from 57,456 to 52,783.

    Support: 57,000 — the cluster of last two weeks’ lows. As long as the index holds above this level, the short-term trend remains favorable.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any investment decisions.