Latest news with #MehtaEquities
News18
a day ago
- Business
- News18
Gold Prices Fall In Mumbai, Delhi, Other Cities: Check Latest Rates In Your City On June 27
Last Updated: Gold Price Today, June 27: In Mumbai, the price of gold stands at Rs 90,690 per 10 grams for 22-carat and Rs 98,940 per 10 grams for 24-carat. Gold Prices In India Today, June 27: Gold and silver prices in India on Friday witnessed a decline amid easing geopolitical tensions in the Middle East and a recovery in global equities capped further upside. In Mumbai, the price of gold stood at Rs 90,690 per 10 grams for 22-carat and Rs 98,940 per 10 grams for 24-carat. Silver was also trading down at Rs 1,07,900 per kg in the city. These spot prices do not include making charges and 3% GST. On the other hand, on the MCX, gold futures fell by 1.04% to around Rs 96,082 per 10 grams. Silver also traded lower by 0.46% to trade at 1,06,268 per kg in the morning trade. Rahul Kalantri, vice-president (commodities) of Mehta Equities, said, 'Easing geopolitical tensions in the Middle East and a recovery in global equities capped further upside in gold." First Published: June 27, 2025, 09:34 IST
India Today
2 days ago
- Business
- India Today
Sensex, Nifty open higher for 4th straight session as global cues aid momentum
Benchmark equity indices opened higher on Friday, extending gains for the fourth consecutive session, buoyed by sustained foreign fund inflows and firm global cues. Optimism over potential rate cuts by the US Federal Reserve and a drop in crude oil prices following a ceasefire announcement in West Asia added to the positive BSE Sensex opened with a gain of over 140 points and was trading 89.06 points higher at 83,844.93 around 9:22 am. The NSE Nifty50 breached the 25,600-mark at the open before paring some gains to trade 25.35 points up at 25, Tapse, Senior VP (Research) at Mehta Equities, noted that markets may build on Thursday's strong rally as investors respond to dovish signals from the US Federal Reserve. "Firm global cues coupled with growing expectations that the Fed may cut interest rates sooner than anticipated could emerge as the biggest positive catalyst," he said. Tapse also highlighted the impact of falling oil prices, with crude staying depressed at $65.50 per barrel after the West Asia ceasefire news. He pointed to the Reserve Bank of India's latest bulletin, which indicated India's economic resilience, as another source of investor confidence. 'We suspect the Nifty IT index could catch investors' attention on dovish bets from the Fed,' he added, predicting that Nifty's ongoing rally may target the all-time high of 26,277.35, unless it falls below the 25,300 V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, pointed out a major development in the currency market that is adding momentum to the rally. 'The dollar index's decline to around 97 has triggered a surge in foreign institutional investor (FII) inflows, with net investments totalling 12,594 crore yesterday—an unusually large figure, even factoring in bulk deals.'According to Vijayakumar, this wave of FII buying lifted heavyweight stocks like HDFC Bank, ICICI Bank, Bharti Airtel, Reliance Industries, and Bajaj Finance, contributing significantly to the rally. 'The ongoing bull market has climbed multiple walls of worry—be it high inflation, rate hikes, or geopolitical tensions—and appears unlikely to be derailed even by the upcoming July 9 tariff deadline,' he said, noting that expectations of a deadline extension are also supporting market he cautioned that some profit booking may occur in the near term, given the rapid run-up in indices.- Ends
India Today
3 days ago
- Business
- India Today
Sensex rises over 500 points, crosses 83,000: Why is stock market rising today?
After weeks of sideways movement and jittery global cues, Dalal Street woke up to a broad-based rally on Thursday morning, with the BSE Sensex soaring over 500 points to cross the 83,000 mark for the first time this year. The Nifty50, too, surged past 25,400 in early trade, buoyed by easing geopolitical tensions and a return of risk appetite in global 9:59 am, the Sensex had gained 549 points to touch 83,305.06, while the Nifty rose by 172.75 points to 25,417.50. The mood across the broader market was upbeat, and volatility remained surprisingly DRIVING THE RALLY?At the heart of Thursday's rally was a glimmer of diplomatic relief: easing tensions between Israel and Iran have reassured global investors, shifting sentiment to a more 'risk-on' mode. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that 'with ceasefire between Israel and Iran, globally markets are in a risk-on mode.' However, he cautioned that the rally could be short-lived if unresolved trade issues, such as the reciprocal tariff dispute, resurface after July 9, when the current pause ends.'The focus will shift quickly to what happens around that deadline,' he added. 'Positive news on a potential India-US deal could boost markets, while disappointment may constrain the rally.'DOMESTIC TAILWINDSadvertisementThe rally wasn't just a global spillover. Bullishness was underpinned by the Reserve Bank of India's latest bulletin highlighting India's economic resilience, along with low oil prices—hovering around $65.50 per barrel—and buoyant cues from Wall Street, where the S&P 500 is flirting with record Tapse, Senior VP (Research) at Mehta Equities, said Thursday's rally had the hallmarks of a breakout. 'Nifty is hovering near its all-time high of 26,277.35, supported by strong macro indicators and easing geopolitical concerns,' he said. 'Technically, Nifty is poised for further gains with targets at 25,319 and 25,500. Support holds strong around the 25,000 mark.'Among sectoral performers, financials and metals led the charge, with notable stock-specific momentum in names like Vodafone Idea and Lupin. Tapse also highlighted bullish trades in Bank Nifty and picks such as Prestige Estate, Indus Tower, and M& GAP CONCERNSYet, not everyone is celebrating without caveats. Dr. Vijayakumar pointed out that Indian equity valuations have entered overheated territory. 'Valuations are stretched—trading at over 22 times estimated FY26 earnings,' he said. 'In contrast, Chinese stocks, as represented by the Hang Seng Index, are trading at a PE of around 15.'This disparity, he warned, could trigger a 'Sell India, Buy China' pivot among foreign institutional investors (FIIs), especially if global risk appetite shifts or profit-taking begins. However, domestic institutional investors (DIIs), flush with liquidity, may cushion any such INDICATORSadvertisementOn the technical side, momentum remains strong, but analysts advise vigilance. Akshay Chinchalkar, Head of Research at Axis Securities, noted that while Wednesday's Nifty rally of 200 points suggests near-term bullishness, the inside-day pattern points to an imminent large move—though the direction remains uncertain.'Immediate resistance lies between 25,310 and 25,360, with a higher band at 25,500,' he said. 'Support levels are at 24,960–25,010, and deeper at 24,800. If bulls defend these levels, a push toward the 25,800 zone could be on the cards.'WHAT NEXT?The current rally reflects optimism, but it's not without fragility. Geopolitical risks remain on the radar, and trade tensions could flare again in July. Meanwhile, India's elevated valuations demand caution, especially as global investors scan for value now, the Sensex's leap past 83,000 is a positive sign, but whether it marks the start of a sustained uptrend or just a relief rally in disguise will depend on what happens next on the global stage.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsMust Watch
News18
3 days ago
- Business
- News18
Gold Prices Rise In Mumbai, Delhi, Other Cities: Check Latest Rates In Your City On June 26
Last Updated: In Mumbai, the price of gold stood at Rs 90,690 per 10 grams for 22-carat and Rs 98,940 per 10 grams for 24-carat. Silver was also trading down at Rs 1,07,900 per kg in the city. Latest gold prices in India. Gold Prices In India Today, June 26: Gold and silver prices in India has seen a modest rebound after two days of steep losses, supported by global uncertainty and a weaker dollar index. In Mumbai, the price of gold stood at Rs 90,690 per 10 grams for 22-carat and Rs 98,940 per 10 grams for 24-carat. Silver was also trading down at Rs 1,07,900 per kg in the city. These spot prices do not include making charges and 3% GST. On the other hand, on the MCX, gold futures rose 0.10% to around Rs 97,458 per 10 grams. Silver also traded higher by 0.42% to trade at 1,06,427 per kg in the morning trade. Rahul Kalantri, vice-president (commodities) of Mehta Equities, said, 'Gold and silver saw a modest rebound on Wednesday after two days of steep losses, supported by global uncertainty and a weaker dollar index. The precious metals found support as the dollar index dropped to its lowest in over three years, driven by weak US consumer confidence data and recession concerns." Meanwhile, increased NATO defence budgets and ongoing Russia-Ukraine tensions added to the bullish undertone. However, de-escalation in the Middle East continues to limit the upside in bullion, he added. International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country. In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals. With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends. First Published: June 26, 2025, 09:30 IST
Reuters
6 days ago
- Business
- Reuters
Online trading platform Plus500 gains approval to enter Canada's OTC market
June 23 (Reuters) - London-listed Plus500 (PLUSP.L), opens new tab said on Monday that it has received approval from the Canadian Investment Regulatory Organization that will allow the online trading platform to offer its services in the over-the-counter market. The company, which provides equity, commodity and options trading services and is active in more than 60 countries, has made investments in new products and expanded into global markets. In March, it bought Indian financial services company Mehta Equities for about $20 million. Plus500 said in April that it expects annual results to exceed market expectations, supported by increased trading activity amid global market volatility.
