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Economic Times
a day ago
- Business
- Economic Times
Market Wrap: D-Street gains for 4th consecutive day, oil & gas lift sentiment; Sensex ends 303 points higher, Nifty over 25,600
Synopsis Indian benchmark indices continued their winning streak, extending gains in the fourth straight session on Friday, supported by positive global cues and the oil & gas basket. Indian benchmark indices continued their winning streak, extending gains for the fourth straight session on Friday, supported by positive global cues and the oil & gas basket. ADVERTISEMENT The 30-component Sensex closed higher by 303 points or 0.36% at 84,058.90, and the Nifty 50 index ended with gains of nearly 89 points of 0.35% at 25, the Nifty50 pack, Jio Financial shares rallied the most (3.9%), followed by Asian Paints shares (up 3.15%). Meanwhile, Tata Consumer witnessed the sharpest fall of 2.13%, while the shares of Dr. Reddy's Laboratories fell by 1.44%. In the broader market, Himadri Speciality Chemical shares zoomed 11.8%, followed by the shares of Lloyds Enterprises, which rose 11%. The top losers of the day were TD Power Systems (fell by 6.14%) and Aegis Logistics (fell by 5%).Out of 12 sectoral indices, 8 ended up in the green while 4 closed in the red. Nifty oil & gas index today jumped up by 1.19% while Nifty Realty took the steepest hit, falling by 1.55%.The other gainers were- Nifty Healthcare index (0.71%), Nifty Pharma (0.55%), Nifty PSU Bank (0.47%) and Nifty (0.45%), among others. ADVERTISEMENT Other losers were - Nifty IT (down 0.44%), Nifty Consumer Durables (Down 0.36%) and Nifty FMCG (0.02%). 'The Nifty continued to move higher as investor confidence remained strong. With no major resistance seen before 25,750–25,800, the index may continue its upward trajectory. However, the rally might not be sharp, and it could take time to reach the 25,800 mark. A buy-on-dips strategy appears more appropriate at current levels, following the sharp rise over the past few days. On the downside, support is placed at 25,500; a break below this level could lead to consolidation,' said Rupak De, Senior Technical Analyst at LKP Securities. ADVERTISEMENT 'Key catalysts like the ceasefire in the Middle East and optimism on easing trade tensions ahead of the deadline have cleared the clouds in the minds of investors. After consecutive days of selling, FIIs have turned net buyers in the domestic market, contributing to improved market stability in the near term. Moreover, benign oil prices and a strengthening INR influenced investors to focus on domestic growth themes. Expectations of accelerating earnings, driven by resilient consumption and a relatively stable macroeconomic backdrop, are further reinforcing optimism,' added Vinod Nair, Head of Research of Geojit Nikkei 225 index of Japan was up by 1.43% at 40,150.79 while Hong Kong's Hang Seng closed 0.17% lower at 24,284.15. ADVERTISEMENT FTSE 100 index of the UK, meanwhile, was trading 0.44% higher at 8,774.18 around 4 pm Dow Jones index as well as the Nasdaq were up by nearly 1% at 43,386.84 and 43,386.84 respectively. The S&P 500 was trading 0.80% higher at 20,167.91. ADVERTISEMENT Rupee traded strong with gains of 25 paise at 85.49 as the dollar index continued its weak trend below the 97 mark. The rupee has strengthened over the last few sessions, supported by easing tensions in the Middle East and a sharp 12–14% drop in crude prices.'Going ahead, the market will look for cues from the upcoming Fed policy and inflation data. Today's Core PCE Price Index from the US is being closely tracked by participants for direction on dollar movement,' said Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP prices rose on Friday, though they were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium crude futures rose 41 cents, or 0.63%, to $67.08 a barrel while U.S. West Texas Intermediate crude gained 40 cents, or nearly 0.61%, to $65.72. 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Time of India
a day ago
- Business
- Time of India
ET Market Watch: Markets gain for 4th day, oil & gas lead the rally
Transcript Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it: Indian Markets Logged 4th Straight Gain, here's What Drove the Rally The Sensex rose 303 pts to close at 84,058 The Nifty gained 89 pts, ending at 25,637 The rally was supported by oil & gas stocks and positive global cues Top Gainers & Losers Jio Financial was the top Nifty gainer, up 3.9% Asian Paints climbed 3.15% Tata Consumer dropped 2.13%, the biggest loser In the broader market, Himadri Chemical surged 11.8%, while TD Power fell over 6% Sector Snapshot The Oil & Gas index jumped 1.19% Gains were seen in Pharma, Healthcare, and PSU Banks Realty, IT, and FMCG sectors ended in the red Global & Currency Cues Japan's Nikkei rose 1.43%, while Dow & Nasdaq were up nearly 1% The rupee strengthened by 25 paise to 85.49, aided by falling crude Focus is on the US Core PCE inflation data for further direction CRUDE Brent settled at $67, and WTI at $65.7 Despite the uptick, crude was headed for its worst weekly drop since March 2023 Even though markets closed the week on a strong note, it is time to be cautious ahead.
Economic Times
a day ago
- Business
- Economic Times
ET Market Watch: Markets gain for 4th day, oil & gas lead the rally
Transcript Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it: Indian Markets Logged 4th Straight Gain, here's What Drove the Rally The Sensex rose 303 pts to close at 84,058 The Nifty gained 89 pts, ending at 25,637 The rally was supported by oil & gas stocks and positive global cues Top Gainers & Losers Jio Financial was the top Nifty gainer, up 3.9% Asian Paints climbed 3.15% Tata Consumer dropped 2.13%, the biggest loser In the broader market, Himadri Chemical surged 11.8%, while TD Power fell over 6% Sector Snapshot The Oil & Gas index jumped 1.19% Gains were seen in Pharma, Healthcare, and PSU Banks Realty, IT, and FMCG sectors ended in the red Global & Currency Cues Japan's Nikkei rose 1.43%, while Dow & Nasdaq were up nearly 1% The rupee strengthened by 25 paise to 85.49, aided by falling crude Focus is on the US Core PCE inflation data for further direction CRUDE Brent settled at $67, and WTI at $65.7 Despite the uptick, crude was headed for its worst weekly drop since March 2023 Even though markets closed the week on a strong note, it is time to be cautious ahead.
Time of India
a day ago
- Business
- Time of India
Market Wrap: D-Street gains for 4th consecutive day, oil & gas lift sentiment; Sensex ends 303 points higher, Nifty over 25,600
Indian benchmark indices continued their winning streak, extending gains for the fourth straight session on Friday, supported by positive global cues and the oil & gas basket. The 30-component Sensex closed higher by 303 points or 0.36% at 84,058.90, and the Nifty 50 index ended with gains of nearly 89 points of 0.35% at 25,637.80. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Gainers & Losers Within the Nifty50 pack, Jio Financial shares rallied the most (3.9%), followed by Asian Paints shares (up 3.15%). Meanwhile, Tata Consumer witnessed the sharpest fall of 2.13%, while the shares of Dr. Reddy's Laboratories fell by 1.44%. In the broader market, Himadri Speciality Chemical shares zoomed 11.8%, followed by the shares of Lloyds Enterprises , which rose 11%. The top losers of the day were TD Power Systems (fell by 6.14%) and Aegis Logistics (fell by 5%).
New Indian Express
a day ago
- Business
- New Indian Express
Jio Financial gets Sebi nod for brokerage unit
MUMBAI: Jio Financial has said its subsidiary Jio Blackrock has got the Sebi nod to launch a stock broking unit under the name of Jio BlackRock Broking. The announcement saw Jio shares jumping close to 5 per cent on Friday, making it the fourth straight session of gains for the stock, which has advanced over 10 per cent over the past four trading days. Jio BlackRock Broking has received a certificate of registration from Sebi on June 25, allowing it to operate as a stockbroker and clearing member, the company informed the exchanges Friday. In July 2023, Jio Financial and the US-based BlackRock had announced a 50:50 joint venture for an AMC business with a digital-first model. And since then the partners have infused Rs 117 crore in mutual fund business, which got the regulatory approvals earlier this month. And in January this year, both the partners invested another Rs 117 crore into the mutual fund business.
