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Economic Times
8 minutes ago
- Economic Times
Where is Nifty headed this week amid trade deal uncertainty?
Agencies A stock-specific approach remains key, with picks like Divi's Lab, Balkrishna Industries, BPCL, IOC, Chennai Petro, CSB Bank, and Navin Fluorine likely to show strength. The market remained range-bound last week as investors awaited clarity on the upcoming US-India trade deal and the US tariff deadline on July 9. Analysts expect the benchmark Nifty to find support in the 24,900–25,200 range this week. A decisive breakout above the 26,000 level could pave the way for a continued rally toward new all-time highs. Analysts suggest that investors consider using market dips as buying opportunities. DHARMESH SHAH VICE PRESIDENT, HEAD OF TECHNICAL, ICICI SECURITIES Where is Nifty headed this week? Equity benchmarks have taken a breather amid increasing anxiety ahead of the trade deal deadline. Nifty dropped 1% to settle the week at 25,400. Sectorally, consumption, pharma, defence remained at the forefront; while, realty, financials (ex- PSU Banks) underwent profit booking. The weekly price action formed a small bear candle carrying higher low, indicating pause in upward momentum after past two weeks up move. Better-than-expected quarterly numbers may fuel momentum to challenge the all-time high of 26,277. From a seasonality perspective, July has historically been a favourable month for the Nifty. Since 1991, it has delivered positive returns 71% of the time, with an average gain of 2.5%. Trading strategies for the week: Any dip from current levels should be viewed as a buying opportunity, with strong support seen near the 24,900 mark. Furthermore, persistent FII inflows, the bilateral trade agreement between India and the US, a decline in the US Dollar Index, and easing Brent crude prices are expected to provide support to the market. On the sectoral front, BFSI, metals, capital goods, pharma, and consumption are likely to remain in focus. Reliance, HDFC Bank, Titan, Tata Steel, L&T and IOC look good for 5-6% gains. Among midcaps, Auro Pharma, Engineers India, Federal Bank, CESC, Gokaldas Exports, Canara Bank, BEML, JSW Infra, Vguard look good for 8-10% upside. TANMAY SHAH RESEARCH HEAD, SIHL Where is Nifty Headed This Week? After a strong trending move, market has shifted into a rangebound phase, largely driven by anticipation around the upcoming trade deal between India and the US. The market may remain sideways between 25,100 and 25,600. A decisive close above 25,600 could open the path toward 26,000. On the downside 25,100 is likely to serve as a strong support. Trading strategies for the week: Recent RBI data signals a strong economic rebound with rising consumer spending, robust export growth, and capacity utilisation exceeding long-term averages. With fundamentals strengthening, market sentiment is likely to remain upbeat. Any dip or consolidation should be viewed as a buying opportunity. Sectors poised to benefit from this momentum include banking, consumer discretionary, infrastructure, and textiles. Among the large caps, HDFC Bank, UltraTech Cement, Hindalco, and M&M look good. In the mid-cap space, Hindustan Copper, Zydus Life, and Max Healthcare stand out, while Nitin Spinners, and Poonawalla Fincorp offer small-cap potential. SUDEEP SHAH HEAD - TECHNICAL AND DERIVATIVE RESEARCH DESK, SBI SECURITIES Where is the Nifty headed? The global backdrop remains supportive for risk assets. While Nifty and the broader small-cap and mid-cap indices traded in a tight range last week, it reflects market indecision and consolidation ahead of the key July 9 tariff deal deadline. From a medium-term view, the broader trend remains bullish, with Nifty trading above key short- and long-term moving averages, keeping the structural uptrend intact. The 20-day EMA zone of 25,250–25,200 will act as immediate support. On the upside, 25,600–25,650 remains a key hurdle. A decisive breakout on either side will likely trigger a trending move in the index. Trading strategies for the week: The ongoing consolidation offers a good opportunity for long-term investors to accumulate quality largeand mid-cap stocks. Traders should focus on banking & financials, consumer durables, pharma, and oil & gas, which may outperform in the near term. A stock-specific approach remains key, with picks like Divi's Lab, Balkrishna Industries, BPCL, IOC, Chennai Petro, CSB Bank, and Navin Fluorine likely to show strength.
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Business Standard
38 minutes ago
- Business Standard
Sensex, Nifty trade flat as tariff updates keep D-street mood in check
Benchmark equity indices were trading flat, albeit with a negative bias, as market sentiment remained cautious amid fresh concerns over trade tariffs. While the US government is planning to send letters to trade partners outlining new tariffs, Commerce Secretary Howard Lutnick mentioned that the likely tariff deadline will go into effect on August 1. Meanwhile, SEBI's probe into Jane Street is also keeping investors on edge. At 11:50 am, BSE Sensex was down by a mere 78 points, trading at 83,355.91 level. Whereas, NSE Nifty was trading below the psychological 25,500 level, down by just 21 points. D-Street's fear gauge, Nifty VIX, surged by over 2 per cent as tariff-related uncertainties dominated market sentiment. Sectorally, Nifty FMCG was among the top-performing indices after several big players in the industry released their quarterly updates. Nifty PSU Bank was just marginally up by 0.19 per cent, trading at 7,166. However, major sectors were trading in red, with Nifty Media being the worst performer, down by 1.31 per cent. From the Sensex pack, Hindustan Unilever (HUL), NTPC, Asian Paints and Reliance were among the top gainers. On the flip side, Tech Mahindra, Bharat Electronics, Eternal (Zomato), UltraTech Cement and Maruti Suzuki were the top laggards. Broader markets also stayed volatile. The Nifty Midcap 100 was trading at 59,581, down by 0.16 per cent. The pain was deeper in the Nifty Smallcap 100, which slipped 0.48 per cent to 18,942. Consumer stocks shine Shares of major FMCG players, including Dabur and Godrej Consumer Products, witnessed a sharp rise of as much as 5 per cent on the bourses as investor mood turned euphoric after healthy quarterly updates. For instance, Dabur is expecting strong performance in its healthcare, home and personal care segment. However, the beverage portfolio might see some pain due to uneven monsoons. Hindustan Unilever shares experienced similar momentum and were among the top gainers from the Sensex pack. The Nifty FMCG index, which has struggled to trade in green territory so far this year, was trading at 55,500 level, experiencing an increase of 1.4 per cent. In contrast, the benchmark Nifty index was trading flat. Momentum in check The ongoing geopolitical events will keep markets consolidated in the near-term, as per analysts. But the earnings season might bring out some movement if Q1 delivers some surprises. "The short-term issues are unlikely to have any long-term impact on the market. Short-term dips can be used by long-term investors to buy high quality stocks, preferably in fairly valued largecaps," said VK Vijayakumar, chief investment strategist at Geojit Investments.
Time of India
an hour ago
- Time of India
Cryogenic OGS IPO subscribed 169 times on final day; GMP hints at 55% listing pop
GMP hints strong listing Live Events Anchors, advisors and financials (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Rs 17.77 crore initial public offering of Cryogenic OGS drew robust investor interest, with an overall subscription of 169.79 times by 10:30 AM on Monday, July 7, the final day of bidding. Backed by strong demand from retail and non-institutional investors, the SME issue is now headed for a likely sharp debut, with the grey market premium suggesting a 55% listing investors led the charge, subscribing to 239.90 times their allotted quota. Non-institutional investors followed with 146.78 times subscription, while the qualified institutional buyers ' (QIB) portion was taken up 12.91 of 8:30 AM on July 7, the latest grey market premium for Cryogenic OGS stood at Rs 26. With the issue priced at Rs 47 per share, the estimated listing price is Rs 73, implying a gain of 55.32%.Cryogenic OGS, which manufactures precision measurement and filtration systems for the oil, gas, and chemical sectors, had opened its book-built IPO on July 3. The offering comprised 37.80 lakh fresh equity shares in the Rs 44–47 price band. At the upper end, retail investors had to shell out Rs 2.64 lakh for the minimum application of 6,000 the total shares on offer, 1.89 lakh were reserved for market maker Spread X Securities. The net offer to the public was 35.91 lakh shares, with 47.38% allocated to QIBs, 14.29% to NIIs, and 33.33% to retail IPO allotment is expected to be finalized on Tuesday, July 8, with listing scheduled on the BSE SME platform for Thursday, July of the IPO, Cryogenic OGS raised Rs 5.05 crore from anchor investors on July 2 by allotting 10.74 lakh shares. The anchor lock-in for 50% of these shares will expire on August 7, 2025, while the remainder will unlock on October Vadodara-based firm, founded by promoters Nilesh Natvarlal Patel, Kiranben Nileshbhai Patel and Dhairya Patel, operates an 8,300 square meter facility in Gujarat. Its products include basket strainers, air eliminators, prover tanks, dosing skids, and truck loading of March 2024, Cryogenic OGS had 23 permanent employees and zero outstanding borrowings. In FY25, the company posted a revenue of Rs 33.79 crore and net profit of Rs 6.12 crore, reflecting year-on-year growth of 32% and 15%, Capital Advisors is the book-running lead manager, and MUFG Intime India (Link Intime) is the registrar to the issue.
