Quick Wrap: Nifty FMCG Index records a surge of 1.68%
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
23 minutes ago
- Hans India
Nifty eyes record highs as late rally sparks optimism; All eyes on US trade deal
After a sluggish start on July 9, the Nifty 50 rebounded impressively, closing near the day's high and gaining 61 points to end at 25,522. A late-session rally—fueled by renewed interest in largecap financials—helped the index break out of a narrow trading range, with analysts now eyeing a potential push towards record highs. Financial giants like Kotak Mahindra Bank, which surged over 3% following a strong Q1 update, were instrumental in lifting market sentiment. Other top gainers included Eternal and Asian Paints, while Titan, Dr. Reddy's, and Bajaj Auto dragged the index, with Titan tumbling nearly 6% on weak jewellery segment performance. The broader markets mirrored the recovery. Despite early losses, the Nifty Midcap 100 slipped only 0.17%, while the Smallcap 100 fell by just 0.29%, signaling a broad-based bounce-back. Sectoral performance was mixed. Nifty Realty, Financial Services, and Private Banks led the gainers, while Consumer Durables, Pharma, and Healthcare saw profit booking. In thematic plays, textile stocks gained sharply after the US imposed a 35% tariff on Bangladesh, raising hopes for increased Indian exports. AMC stocks also saw action following SEBI's proposal to ease mutual fund norms under tighter regulations. Foreign institutional investors (FIIs) continued to sell in the cash market, while domestic institutional investors (DIIs) stepped in as net buyers, cushioning the fall. Market experts remain bullish. Siddhartha Khemka of Motilal Oswal highlighted improving sentiment driven by trade deal hopes and the upcoming earnings season. Technically, analysts see key resistance levels ahead. HDFC Securities' Nandish Shah noted that Nifty has been forming higher highs and lows, with resistance at 25,669. A breakout could target the 26,000 mark, while 25,331 is the support. LKP Securities' Rupak De pointed to a bullish setup on the charts, citing a green candle forming after a hammer and doji pattern—often a signal of further upside. He placed resistance at 25,600–25,800 and support around 25,400. Angel One's Rajesh Bhosale added that a move above 25,700 could trigger fresh highs, with 25,300–25,450 acting as a buffer zone on the downside. Nagaraj Shetti of HDFC Securities echoed the positive trend, saying a breakout above 25,700 may push Nifty towards the 26,000–26,200 zone. Immediate support lies at 25,425. As global cues, especially the US trade negotiations, remain pivotal, traders are advised to watch key levels for the next leg of market movement.
India Gazette
an hour ago
- India Gazette
Sensex, Nifty recovered on anticipation of mini trade deal with US: Experts
Mumbai (Maharashtra) [India], July 8 (ANI): The Indian stock markets on Tuesday ended higher, recovering from the flat opening due to the news of a possible mini trade deal between India and the United States late in the night. Stock markets opened under pressure as concerns over US President Donald Trump's fresh tariff measures took center stage. At the end of the trading session, the Sensex was up 270.01 points or 0.32 per cent, at 83,712.51, and the Nifty was up 61.20 points or 0.24 per cent, at 25,522.50. The Financial heavyweights helped Nifty and Nifty Bank close in the green. Kotak Bank remained the top gainer and rose over 3 per cent on a strong first-quarter update. Tital was the top Nifty loser, down 6 per cent after reporting below-estimate jewellery business growth. 'Today marked the third day the Nifty had opened and closed the market within a narrow range of 25,400 to 25,500. This shows the market is waiting for a trigger before the next move at the index level,' said VLA Ambala, Co-Founder of Stock Market Today. 'The market remained in an uptrend position, showing no signs of reversal, but volatility is expected as crude, gold, and dollar prices may fluctuate due to the outcome of Donald Trump's trade deal,' she said. Observing the markets, Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity - Ashika Stock Broking, said despite global uncertainties stemming from U.S. President Donald Trump's announcement of 25-40 per cent tariffs on 14 nations, the Indian equity markets opened flat and traded largely sideways throughout the session 'Trump Tariffs occupied centre stage, on expected lines, on Monday, as letters detailing tariffs were issued to 14 countries. Markets reacted slightly and were not in the panic mode of April 2nd to April 9th. Over the past 90 days, the markets have become more resilient, looking past the Trump policy ambiguity to Trump actions,' Ajay Bagga, Banking and Market Expert, told ANI. He added, 'The big takeaway on Monday was that the July 9th tariff imposition deadline has been moved to August 1st. This gives 23 more days for further negotiations, even to the 14 countries that were sent letters on Monday imposing tariffs.' (ANI)
Time of India
2 hours ago
- Time of India
Did Jane Street engage in market manipulation? Everything to know about SEBI's allegations against the 25-year-old trading firm
Trading firm Jane Street, which was founded over 25 years ago in August 1999, has run into a major regulatory setback in India, with the Securities and Exchange Board of India (SEBI) accusing the organization of market manipulation. As a consequence, Jane Street is currently barred from buying or selling securities on the Indian stock market. Furthermore, SEBI has seized $567 million of the company's funds. Jane Street has hit back against SEBI's allegations, denying all wrongdoing, and intends to contest the ban by appealing to the Securities Appeals Tribunal. According to SEBI, Jane Street deliberately manipulated Bank Nifty and Nifty 50 options by buying up cash and futures shares in those stock exchanges to pump up their price. Jane Street have been accused of subsequently dumping these Bank Nifty shares in order to bring the index's value down and make a profit at the expense of other futures traders. Jane Street is accused of manipulating the Bank Nifty and Nifty 50 index What if I told you that Jane Street made ₹36,500 crores from Indian markets in just 2 years, and ₹4,800 crores of that was allegedly through market manipulation? They turned India's stock market into their personal ATM using a strategy so clever. Here's the complete details 🧵 Jane Street's market manipulation has been characterized as a 'cunning pump and dump' according to financial blogger Finshots. Jane Street allegedly exploited loopholes in futures and options trading to rig the stock market in their own favor. By buying up major bank shares in the Bank Nifty index, such as ICICI, HDFC and Axis Bank, Jane Street pumped up the value of the index in its entirety, thus enticing retail investors to buy up call options in order to take advantage of this market boom and make some quick money. However, Jane Street would subsequently bet against the Bank Nifty index by secretly selling call options and buying up put positions. Both of these moves would indicate that Jane Street was betting on the Bank Nifty index collapsing, and by dumping the shares it had bought up earlier, Jane Street effectively rigged this very eventuality. Jane Street pushes back against SEBI's allegations Someone seriously needs to find out what in blazes is going on at Jane Street. Despite the aggressive crackdown against Jane Street by SEBI, the trading firm continues to deny any wrongdoing. Jane Street claims that the arbitrage trades the firm conducted were "a core and commonplace mechanism of financial markets that keeps the prices of related instruments in line". It remains to be seen how the firm's appeal to the Securities Appeals Tribunal will pan out.
