Will Nifty rally 600 points in July to reclaim record highs?
Top performers in Friday's session included Jio Financial, Asian Paints, and Apollo Hospitals, while Tata Consumer, Dr. Reddy's, and Wipro saw profit booking. The Nifty Bank index surged past the 57,400 mark, setting a new all-time high.
Midcap and Smallcap indices extended their gains for the sixth straight session. Nifty Midcap 100 rose 0.27%, and Smallcap 100 gained 0.91%, both reaching their highest levels since January 3.
Among sectors, Oil & Gas, Healthcare, and Pharma led the gains, while Realty, IT, and FMCG ended in the red.
Technical Outlook:
According to HDFC Securities' Nandish Shah, Nifty is now in the downward gap zone of 25,640–25,740 from October 2024. A decisive close above 25,740 may propel the index toward 26,000. Immediate support lies at 25,317.
LKP Securities' Rupak De recommends a "buy-on-dips" strategy, noting limited resistance until 25,800. However, the uptrend could be gradual, with support at 25,500.
Bank Nifty remains constructive above 56,800–57,000. A close above 57,500 may open doors to 58,000, while 55,800 serves as key short-term support, said Om Mehra of SAMCO Securities.
Global Cues:
Positive US futures, falling dollar index, and weak US GDP (Q1 contraction of 0.5%) are supporting Indian equities. Hopes of a US-India trade deal and RBI's liquidity stance further buoy sentiment.
Stocks to Watch on June 30:
BHEL: Bags ₹6,500 crore thermal power order from Adani Power
Hindustan Aeronautics: Recommends ₹15 final dividend for FY25
ITD Cementation: Wins ₹580 crore marine contract in Abu Dhabi
Piramal Enterprises: Infuses ₹700 crore into Piramal Finance
Alembic Pharma: Gets USFDA nod for Doxorubicin Hydrochloride
GAIL: To acquire 106.75 crore shares in Talcher Fertilizer
HOEC: Halts Block B-80 production due to weather issues
Central Bank of India: Acquires 25.18% stake in Future Generali Life
Prestige Estates & Arihant Group: JV to develop ₹1,600 crore Velachery project
Le Lavoir: To acquire 64.5% in Ghantiram Foods via MoU
With technicals aligning and sentiment strong, the July series could begin on a high note, pushing Nifty closer to all-time highs in the weeks ahead.
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Time of India
40 minutes ago
- Time of India
Currency conversion made simple: Tricks for students who hate math
Exchange rates shouldn't require a maths degree to understand. Yet most currency conversion methods throw complicated decimal points and constantly changing numbers at students who simply want quick, practical answers. The reality is that perfect precision rarely matters for everyday student decisions. Whether you're comparing international course fees, budgeting for study abroad programmes, or understanding global economic news, rough estimates work perfectly well and they're far easier to calculate. Why traditional methods fall short Most currency conversion approaches focus on precise calculations using exact exchange rates. While accuracy has its place, this method creates unnecessary complexity for everyday situations. Exchange rates fluctuate constantly, sometimes multiple times per day, making it impractical to memorise exact figures. Additionally, trying to perform precise calculations with numbers like 83.47 or 105.23 in your head often leads to frustration and errors. The solution lies in embracing approximation over precision. For most practical purposes, being within 2–5% of the actual value is perfectly adequate. This approach transforms a complex mathematical exercise into a series of simple mental shortcuts that anyone can master. The foundation: Smart rounding technique The core principle behind effortless currency conversion involves rounding exchange rates to "friendly" numbers that work well with mental arithmetic. Instead of wrestling with the actual USD-INR rate of 83.24, simply use 80 or 85. Rather than struggling with EUR-INR at 90.67, stick to 90 or 100. This rounding strategy serves multiple purposes. Firstly, it eliminates the cognitive load of handling decimal places and odd numbers. Secondly, it creates consistent patterns that become automatic with practice. Finally, it provides a buffer that accommodates daily rate fluctuations without requiring constant updates to your mental reference points. Converting rupees to foreign currencies When converting Indian rupees to foreign currencies, the process involves division by your chosen rounded exchange rate. This mental division becomes surprisingly manageable once you've established your reference numbers. Quick reference rates for mental math: US Dollar (USD): Divide by 80 → 1600 INR ÷ 80 = 20 USD Euro (EUR): Divide by 90 → 2700 INR ÷ 90 = 30 EUR British Pound (GBP): Divide by 100 → 2500 INR ÷ 100 = 25 GBP UAE Dirham (AED): Divide by 25 → 2500 INR ÷ 25 = 100 AED Canadian Dollar (CAD): Divide by 60 → 1200 INR ÷ 60 = 20 CAD Australian Dollar (AUD): Divide by 55–60 → 1650 INR ÷ 55 = 30 AUD For US dollars, dividing by 80 provides a reliable baseline that works consistently across different amounts. European euros follow a similar pattern using 90 as your reference point, while British pounds benefit from the convenient divisor of 100, making mental calculations particularly straightforward. Regional currencies popular among Indian students also follow predictable patterns, with UAE dirhams aligning well with 25 as a reference rate and both Canadian and Australian dollars working comfortably with rates around 55–60. Converting foreign currencies to rupees The reverse process requires converting foreign currencies to rupees. This involves multiplication rather than division. This direction often feels more intuitive since multiplication typically seems less daunting than division. Quick multiplication guide: 20 USD → 20 × 80 = 1600 INR 25 EUR → 25 × 90 = 2250 INR 30 GBP → 30 × 100 = 3000 INR 200 AED → 200 × 25 = 5000 INR 15 CAD → 15 × 60 = 900 INR 25 AUD → 25 × 55 = 1375 INR The beauty of this approach lies in its consistency with the division method used for the opposite conversion. US dollars multiply by 80, European euros by 90, and British pounds by the wonderfully convenient multiplier of 100. For students frequently dealing with Middle Eastern opportunities, UAE dirhams maintain their 25-to-1 relationship with simplified rupee amounts. Meanwhile, both Canadian and Australian dollars preserve their 55–60 range, allowing you to choose the multiplier that feels most comfortable for your mental arithmetic style. Handling complex amounts through decomposition Large or awkward numbers needn't intimidate you when using the decomposition technique. This approach breaks complex amounts into simpler components that align with your mental math comfort zone. Consider converting 7350 INR to US dollars. Rather than attempting 7350 ÷ 80 directly, decompose it into 7200 + 150. The first component becomes 7200 ÷ 80 = 90, while the second becomes 150 ÷ 80 ≈ 2. Combined, you get approximately 92 USD. This technique proves especially valuable when dealing with amounts that don't divide evenly. For 3750 INR to euros (÷90), decompose into 3600 + 150. The calculation becomes 3600 ÷ 90 = 40, plus 150 ÷ 90 ≈ 1.7, totalling approximately 41.7 EUR. Fine-tuning with percentage adjustments Once you've mastered basic conversions, percentage adjustments allow for greater precision without sacrificing simplicity. When market conditions push actual rates significantly above or below your reference numbers, apply quick percentage modifications. Common adjustment scenarios: Rate higher than reference: Add 5–10% to your result Rate lower than reference: Subtract 3–8% from your result Volatile periods: Stick to basic estimates and verify when precision matters For example, if your reference rate of 80 for USD-INR seems low during a period when the actual rate hovers around 85, add approximately 6% to your calculations. Conversely, if rates drop to around 78, subtract about 3% from your initial estimate. The beauty of this approach lies in its flexibility. 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Economic Times
43 minutes ago
- Economic Times
Indian envoy, Brazil's President discuss deepening bilateral strategic partnership, PM Modi's visit
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The 17th BRICS Leaders' Summit will be held in Rio de Janeiro from July 6 to a post on X, the Indian Embassy in Brazil stated, "Amb @dineshbhatia presented credentials to President @LulaOficial and discussed deepening of bilateral Strategic Partnership as well as PM @narendramodi's upcoming participation in BRICS Summit, followed by State Visit to Brazil." 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Indian Express
an hour ago
- Indian Express
Daily Briefing: India eyes tariff edge over China
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