Latest news with #AkshayChinchalkar
Mint
2 hours ago
- Business
- Mint
Nifty, Sensex open in red due to consistent FPI selling, US tariff uncertainty
Mumbai [India], : The Indian stock markets opened on a weak note on Tuesday, weighed down by persistent foreign portfolio investor selling and concerns over a delay in the India-US trade deal, which may lead to a 15 per cent tariff. The Nifty 50 index opened at 24,609.65, down by 71.25 points or 0.29 per cent, while the BSE Sensex opened lower at 80,620.25, registering a loss of 270.77 points or 0.33 per cent. Market experts noted that Indian equities are currently in an oversold zone, and while a short-term technical bounce is possible, a sustained rally will likely return only if FPI flows turn positive. Ajay Bagga, a banking and market expert, told ANI, "Indian markets are facing consistent FPI selling, with secondary market FPI sales in July crossing ₹ 36,000 crores. The market is bipolar, with the primary market offering seeing strong interest and promoter selling crossing ₹ 130,000 crores year-to-date. There is no catalyst on the horizon, as the US-India trade deal seems delayed and at a 15 per cent tariff rate at best." He added, "Indian stocks are in a heavily oversold zone and the monthly expiry of a very long July is approaching with a fifth week of weak sentiment, weak positioning and underwhelming earnings. Somewhere a technical bounce will come from these oversold levels, but right now a catalyst for this is lacking. Time to hunker down and wait for things to consolidate. Ten months are over since the last all-time highs. It seems to be a lower-for-longer wait ahead." On the global front, markets shrugged off the US-EU trade deal and focused on a week packed with data on earnings, job growth, unemployment, and central bank actions. Experts noted that markets are experiencing "Trump Tariff ennui," a weariness from repeated cycles of aggressive trade threats, temporary reliefs, and eventual deals settled around the 15 to 20 per cent tariff range. Asian markets were cautious ahead of the outcome of the US-China trade talks in Stockholm, expected to conclude tonight. According to the South China Morning Post, the China tariffs deadline may be pushed by 90 days. Deals with China, Canada, and Mexico are still awaited, while markets are focusing on economic indicators and central bank policy guidance. Back home, in the broader NSE indices, the Nifty 100 was trading flat. The Nifty Midcap 100 index was up by 0.11 per cent, while the Nifty Smallcap index was down by 0.04 per cent. Among sectoral indices, Nifty IT continued its decline, down by 0.36 per cent at the time of filing this report. Other sectoral performers included Nifty Auto, up by 0.06 per cent, Nifty FMCG gained 0.22 per cent, Nifty Media surged 0.34 per cent, Nifty Metal rose by 0.41 per cent, Nifty Pharma gained 0.19 per cent, Nifty PSU Bank up by 0.28 per cent, and Nifty Realty was higher by 0.20 per cent. Akshay Chinchalkar, Head of Research at Axis Securities, said, "The Nifty finished 156 points down yesterday and ended below the crucial 24,700 mark. Technically speaking, the ongoing decline has the 24,400-500 support area in its sights as long as immediate resistance at 25,000 is not challenged. The real test for bulls will be at 24,200 should prices get there." On the earnings front, several major Indian companies including Larsen & Toubro, NTPC, Asian Paints, Varun Beverages, GMR Airports, GE Vernova, TD India, Bank Of India, Apar Industries, Piramal Enterprises, New India Assurance Company, Amber Enterprises India Limited, Star Health & Allied Insurance Company, Welspun Corp, and Deepak Fertilisers and Petrochemicals Corporation are scheduled to announce their Q1 results today. In other Asian markets, Japan's Nikkei 225 index fell by 0.83 per cent, Singapore's Straits Times declined by 0.44 per cent, Hong Kong's Hang Seng index lost 1.25 per cent, Taiwan's weighted index dropped 1.01 per cent, while South Korea's KOSPI index bucked the trend, gaining 0.61 per cent. This article was generated from an automated news agency feed without modifications to text.
NDTV
4 days ago
- Business
- NDTV
Nifty Falls Below 25,000, Sensex Slips Under 82,000 In Early Trade
Mumbai: Indian stock markets came under pressure on Friday as selling by Foreign Portfolio Investors (FPIs) weighed on investor sentiment. At the time of reporting, the Nifty 50 stood at 25,010.35, down 51.75 points or 0.21 per cent, while the BSE Sensex was trading at 82,065.76, a decline of 118.41 points or 0.14 per cent. Ajay Bagga, Banking and Market Expert, told ANI, "Indian markets are pointing to a continued negative outlook as per the traded futures. FPIs remain sellers while DIIs are absorbing the selling. Once more critical support levels are being challenged, so today's price action is important for the health of the Indian markets. Earnings continued to be weak on the whole, and with no US India Trade deal on the horizon before the August 1st deadline, markets are getting into a worry zone on that front." He further added, "Fasten seat belts, we see key supports holding due to the blessed Indian retail investors who are determinedly buying every dip and keeping their faith in the Indian managements and economy even as FPIs are selling consistently." Broad market indices on the NSE also reflected the pressure. The Nifty 100 was down by 0.53 per cent, Nifty Midcap 100 slipped by 0.34 per cent, and the Nifty Smallcap 100 lost 0.56 per cent. All other major indices were trading in the red. Among the sectoral indices, Nifty Auto declined by 0.66 per cent, Nifty IT by 0.19 per cent, Nifty Media by 0.40 per cent, and Nifty Metal by 0.46 per cent. The only gainer at the time of filing the report was Nifty Pharma, which was up by 0.26 per cent. Akshay Chinchalkar, Head of Research at Axis Securities, said, "The Nifty erased all its Wednesday gains yesterday, as it dropped 159 points to finish the day at 25062. Technically speaking, yesterday's candle completed yet another bearish engulfing, which means we have had two in quick succession - a rare event. The battle lines are clear: 25000 is vital support, while 25245 is key resistance. Bears will continue to have the upper hand until we have a daily close above 25340." On the earnings front, several major companies are scheduled to release their quarterly results today, including Bajaj Finserv, Bank of Baroda, Cipla, Shriram Finance, SBI Cards & Payment Services, Schaeffler India, Steel Authority of India, Petronet LNG, Laurus Labs, Poonawalla Fincorp, Tata Chemicals, Aadhar Housing Finance, Grindwell Norton, and ACME Solar Holdings. Meanwhile, global cues also remained weak. US-China trade talks scheduled in Sweden on Monday are expected to provide the next signal for the trajectory of US-India talks, especially as discussions on Russian oil supplies are also expected in Stockholm. With fiscal action lacking and the monetary policy meet slated for August 6, Indian markets are bracing for a potentially weak end to the week, marking what could be the fourth consecutive negative week. In Asia, Japan's Nikkei 225 index was down 0.79 per cent, Singapore's Straits Times fell by 0.48 per cent, Hong Kong's Hang Seng declined by 1.19 per cent, and Taiwan's Weighted Index was marginally down by 0.08 per cent. South Korea's KOSPI was the only major gainer, up by 0.35 per cent.
The Hindu
6 days ago
- Business
- The Hindu
Markets trade higher in early deals tracking rally in Asian peers
Benchmark indices Sensex and Nifty rallied in early trade on Wednesday tracking a positive trend in Asian markets. Japan securing a trade deal with the U.S. propelled a rally in Asian markets, which in turn added to optimistic trend in domestic equities, an expert said. The 30-share BSE Sensex climbed 288.64 points to 82,475.45 in initial trade. The 50-share NSE Nifty went up by 88.95 points to 25,149.85. From the Sensex firms, Tata Motors, Maruti, Eternal, Mahindra & Mahindra, Adani Ports and Bharti Airtel were among the biggest gainers. However, Titan, State Bank of India, HDFC Bank and Hindustan Unilever were among the laggards. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng traded in positive territory. "Asian cues are positive due to Japan securing a trade deal with the U.S.," Akshay Chinchalkar, Head of Research, Axis Securities, said. The US markets ended mostly higher on Tuesday. "The 11th new record high for 2025 set by S&P 500 yesterday is an indication of the direction and resilience of equity markets globally. Markets are climbing all walls of worries and valuation concerns have been put on the back burner. In the near-term this resilience is likely to continue," V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. A significant takeaway from the early Q1 results is the improving prospects of banking and digital stocks. Q1 results of Eternal and Paytm indicate steady growth potential of the digital stocks which have a long runway of growth, he added. US President Donald Trump has announced a trade deal with Japan, with a 15 per cent tax on goods imported from that nation. Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,548.92 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs) bought stocks worth ₹5,239.77 crore in the previous trade. Global oil benchmark Brent crude climbed 0.23% to $68.75 a barrel. On Tuesday, the Sensex ended 13.53 points or 0.02% down at 82,186.81. The Nifty dipped 29.80 points or 0.12% to settle at 25,060.90.
Mint
6 days ago
- Business
- Mint
Nifty, Sensex open with gains on US-Japan trade deal optimism, Experts see potential for rally
Mumbai [India], : Indian stock markets continued their upward momentum on Wednesday, with both key indices, the Nifty 50 and the BSE Sensex, posting early gains. This positive movement came as investor confidence received a major boost following the recent trade agreement between the United States and Japan. The Nifty 50 index opened at 25,138.50, registering a gain of 77.60 points or 0.31 per cent. Similarly, the BSE Sensex began the day on a stronger note at 82,429.66, rising by 242.85 points or 0.30 per cent. Experts attributed the bullish sentiment to the recent US-Japan deal, which settled tariffs at 15 per cent on Japanese goods, instead of the previously feared 25 per cent. This has lifted investor morale across Asian markets. Ajay Bagga, Banking and Market Expert, told ANI, "Indian markets have held key support levels despite the twin headwinds of tariff uncertainty and weak earnings. The Japan deal raises hopes for a US-India deal in the ballpark 15 per cent range. That could be a huge catalyst for short covering and could lead to a regaining of the September 2024 all-time highs in the Indian markets. Today is promising to be a positive day, with massive inflows from DIIs countering the continued FPI outflows." The US-Japan deal is expected to lead to a short squeeze in Japan, with Japanese automaker stocks reportedly rising as much as 15 per cent in early Tokyo trade. The market now anticipates that similar deals may be announced with other major economies such as the EU and India, providing further support to global equity markets. Despite the positive open, technical analysts remained cautious. Akshay Chinchalkar, Head of Research at Axis Securities, noted, "The Nifty ended down 30 points to close at 25,061. Technically speaking, the market did break above the first hurdle at 25,144 yesterday but wasn't able to close above it, and that's not a good sign. To reiterate, unless we break 25,340 on a closing basis, bulls have very little going for them from these levels. Asian cues are positive due to Japan securing a trade deal with the US." In the broader market, indices on the NSE showed mixed trends. The Nifty 100 was up by 0.15 per cent, while the Nifty 200 gained 0.10 per cent. However, the Nifty Midcap index fell by 0.14 per cent, and the Nifty Smallcap 100 declined by 0.33 per cent. Sector wise performance was also mixed. The Nifty Auto index surged by 1 per cent, supported by gains in Japanese automobile stocks. Nifty Metal gained 0.36 per cent, while Nifty PSU Bank posted a 0.16 per cent increase. On the downside, the Nifty FMCG, IT, and Media indices registered losses. Commenting on the technical outlook, Vikram Kasat, Head, Advisory, PL Capital said, "The tug of war between the bulls and the bears continues. Nifty is failing to cross and sustain above the 40HEMA, which has now moved lower to 25,104. Sustaining above the 40HEMA and closing above the high hourly high of 25,182 can hint towards a trend reversal as it would reinforce a higher top, higher bottom formation. The low of 24,882 will be an important support level." As the markets digest the implications of the US-Japan deal, all eyes are now on potential trade developments involving India, which could serve as a further trigger for the next leg of the market rally. This article was generated from an automated news agency feed without modifications to text.
News18
6 days ago
- Business
- News18
Markets trade higher in early deals tracking rally in Asian peers
Mumbai, Jul 23 (PTI) Benchmark indices Sensex and Nifty rallied in early trade on Wednesday tracking a positive trend in Asian markets. Japan securing a trade deal with the US propelled a rally in Asian markets, which in turn added to optimistic trend in domestic equities, an expert said. The 30-share BSE Sensex climbed 288.64 points to 82,475.45 in initial trade. The 50-share NSE Nifty went up by 88.95 points to 25,149.85. From the Sensex firms, Tata Motors, Maruti, Eternal, Mahindra & Mahindra, Adani Ports and Bharti Airtel were among the biggest gainers. However, Titan, State Bank of India, HDFC Bank and Hindustan Unilever were among the laggards. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng traded in positive territory. 'Asian cues are positive due to Japan securing a trade deal with the US," Akshay Chinchalkar, Head of Research, Axis Securities, said. The US markets ended mostly higher on Tuesday. 'The 11th new record high for 2025 set by S&P 500 yesterday is an indication of the direction and resilience of equity markets globally. Markets are climbing all walls of worries and valuation concerns have been put on the back burner. In the near-term this resilience is likely to continue," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. A significant takeaway from the early Q1 results is the improving prospects of banking and digital stocks. Q1 results of Eternal and Paytm indicate steady growth potential of the digital stocks which have a long runway of growth, he added. US President Donald Trump has announced a trade deal with Japan, with a 15 per cent tax on goods imported from that nation. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,548.92 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs) bought stocks worth Rs 5,239.77 crore in the previous trade. Global oil benchmark Brent crude climbed 0.23 per cent to USD 68.75 a barrel. On Tuesday, the Sensex ended 13.53 points or 0.02 per cent down at 82,186.81. The Nifty dipped 29.80 points or 0.12 per cent to settle at 25,060.90. PTI SUM HVA view comments First Published: July 23, 2025, 10:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
