Latest news with #NIFTYIT
Reuters
23-06-2025
- Business
- Reuters
Indian stocks set to slip after US attack on Iran's nuclear sites
June 23 (Reuters) - India's shares are set to open lower on Monday, in line with Asian peers, as investors anxiously wait to see if Iran retaliates after the U.S. attacked its key nuclear sites. The Gift Nifty futures were trading at 25,008, as of 7:51 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open below the previous close of 25,112.4. The U.S. attacked key Iranian nuclear sites over the weekend, joining Israel in the biggest Western military action against the Islamic Republic since the 1979 revolution. Most Asian stocks were lower on the day, with MSCI Asia ex Japan (.MIAPJ0000PUS), opens new tab down more than 1%, while the oil prices briefly hit a five-month high. The concerns that Iran may shut the Strait of Hormuz, through which around 20% of global oil and gas flows, triggered fears of a supply disruption. Goldman Sachs flagged risks to global energy supply amid the concerns, and said it would lead to significant spikes in oil and natural gas prices. Higher crude oil prices do not bode well for India, which relies on imports for its energy requirement, as they may fuel inflation and raise the government's fiscal deficit. The surge in oil prices could also be detrimental to corporate earnings growth as they could raise input costs. India's benchmark indexes rose about 1.6% last week, driven by gains in financials. ** Information technology companies (.NIFTYIT), opens new tab will be in focus due to concerns over persistent weakness in technology spending as global software major Accenture (ACN.N), opens new tab posted third consecutive quarter of yearly decline in outsourcing orders ** Bharat Electronics ( opens new tab gets orders worth 5.85 billion rupees ($67.6 million) for fire control and sighting system for missiles, communication equipment, jammers, spares, and services ($1 = 86.5600 Indian rupees)
Time of India
12-06-2025
- Automotive
- Time of India
Top stocks to buy today: Stock recommendations for June 12, 2025
Top stocks to buy today (AI image) Top stock market recommendations: According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, Tata Motors, Mphasis, and Hero Motocorp are the top buy calls for today. Here's his view on Nifty, Bank Nifty and the top stock picks for June 12, 2025: Index View: Nifty Outlook Nifty has broken out from its 3 week consolidation and now stands at an eight month closing highs. With the index holding above 25050 resistance level for the past 3 consecutive days. This confirms a breakout from the range for higher targets of 25400 / 25600 however the support is far below at 24650. This is because for the past two days markets have closed lower than its open despite ending in green. Bank Nifty Bank Nifty broke out into fresh all-time highs after the monetary policy announcement as the index reclaimed its wall of worry. Outperformance of Bank Nifty is likely to continue for this week's trade as well as the index resumes further upside towards 57200 / 57600 odd, however fresh longs are likely to provide good risk to reward only on dips towards 56200. TATAMOTORS (BUY): LCP: Rs 736.40 Stop Loss: Rs 712 Target: Rs 782 Tata Motors stock has seen a 5-7% corrective consolidation in the past 3 weeks of trade which was an after effect of a sharp 40% rally before that. With supportive news flow for domestic players in the new EV policy acting as tailwind, passenger vehicle stocks are likely to see further momentum. Tata Motors is a cleaner set up amongst the peers on charts for another 6-8% rally from CMP. MPHASIS (BUY): LCP: Rs 2,679.90 Stop Loss: Rs 2,550 Target: Rs 2,870 After trading at an 18 month low in April, Mphasis has been rising in a steep upward moving channel. A typical higher high – higher low formation underlines the bullish set up and inflows on the counter. The stock has widely outperformed its benchmark NIFTYIT index on a YTD basis which is down over 12% while LTIM is down 6% in the same period of 2025. A move towards the higher range of the bullish channel is likely to unfold for a target of 2850-2900. HEROMOTOCO (BUY): LCP: Rs 4,410.00 Stop Loss: Rs 4,150 Target: Rs 4,800 Having run up nearly 30% from its recent low in March – Hero Motocorp is now on verge of breaking out from an inverse head and shoulder pattern formation for fresh upside retesting its December 2024 highs. A bullish flag breakout is about to commence for targets aimed 10% higher from CMP. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
29-05-2025
- Business
- Time of India
Top stocks to buy today: Stock recommendations for May 29, 2025
Top stocks to buy today (AI image) Top stock market recommendations: According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, Chennai Petroleum Corporation, LTIMindtree , and Zydus Lifesciences are the top buy calls for today. Here's his view on Nifty, Bank Nifty and the top stock picks for May 29, 2025: Index View: Nifty For the past 9 trading days, Nifty has been static within a 2% band, however the highs of 25000 has been constantly providing supply non index longs. Unless a closing above 25050 is not confirmed, the downside swing towards 24300 / 24100 remains open on the index. Nifty has had a nearly 15% run up in the past 6 weeks without a 2% correction. With the price action seen from the start of this week, it is fair for the index to retest 200 DMA support on downside which currently reads below 24100. Bank Nifty Bank Nifty has broken from its 6 week rising trendline in last week's trading. This puts the index back on track to retest its polarity support of its original 5 year rising trendline. Targets for this breakdown hint for a 1200-1500 point breakdown from CMP. Negation for this down move is seen only when the index closes above 55600. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo CHENNPETRO (BUY):LCP: 719.05Stop Loss: 681Target: 777 After a bullish head and shoulder breakout on daily and weekly charts earlier this month, prices are consolidating after crossing the 200 DMA resistance on shares on Chennai Petroleum Corporation. This consolidation in a range is a typical price behaviour on this stock historically observed before another round of up move. A follow up move of 7-9% is likely to be unfolded post this monthly derivative expiry. LTIM (BUY):LCP: 5099Stop Loss: 4950Target: 5525 After trading at a 3 year low in April, LTIMindtree has been rising within a channel and has gained 25% since its April lows. A typical higher high – higher low formation underlines the bullish set up and inflows on the counter. The stock has widely outperformed its benchmark NIFTYIT index on a YTD basis which is down over 13% while LTIM is down 8% in the same period of 2025. A move towards higher range of the bullish channel is likely to unfold for target of 5525. ZYDUSLIFE (BUY): LCP: 925.60Stop Loss: 888Target: 980 Zydus Lifesciences stock has closed at a 2 month high, after breaking out from a falling trendline earlier this month which was in place since August 2024. Repeated higher lows have been seen from the start of this month on daily charts, this 2 high note closing on charts is likely to allow further thrust on the stock for a resistance meet at its 200 DMA near 980 odd. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
28-05-2025
- Business
- Mint
Stock Picks: Sagar Doshi suggests Chennai Petroleum, LTIMindtree, Zydus Life shares to buy in a muted market today
Stock market today: India's main stock indexes started the day relatively unchanged on Wednesday, as investments in large block transactions and the primary market balanced out the benefits from positive global sentiment. The Sensex dropped by 200.32 points to reach 81,351.31 in early trading, while the Nifty 50 fell by 61.2 points to settle at 24,765. Market analysts observed that encouraging signals from the US markets, a weak dollar, and lower gold prices will create a favourable macroeconomic environment for the equity markets today. The MPC is highly likely to reduce policy rates by 25 basis points during the policy meeting on June 6th. As a result, rate-sensitive sectors will be in focus in the upcoming days. Sagar Doshi of Nuvama recommends Chennai Petroleum Corporation, LTIMindtree, and Zydus Lifesciences shares to buy today. Here's what Doshi says about the overall market. For the past 8 trading days, Nifty 50 has been static within a 2% band, however the highs of 25,000 has been constantly providing supply non index longs. Unless a closing above 25,050 is not confirmed, downside swing towards 24,300 / 24,100 remain open on the index. Nifty 50 has had a nearly 15% run up in the past 6 weeks without a 2% correction. With the price action seen from the start of this week, it is fair for the index to retest 200 DMA support on downside which currently reads below 24,100. Bank Nifty has broken from its 6 week rising trendline in last week's trading. This puts the index back on track to retest its polarity support of its original 5 year rising trendline. Targets for this breakdown hint for a 1,200-1,500 point breakdown from CMP. Negation for this down move is seen only when the index closes above 55,600. On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Chennai Petroleum Corporation Ltd, LTIMindtree Ltd, and Zydus Lifesciences Ltd. After a bullish head and shoulder breakout on daily and weekly chart earlier this month, prices are consolidating after crossing the 200 DMA resistance on shares on Chennai Petroleum Corporation. This consolidation in a range is a typical price behaviour on this stock historically observed before another round of up move. A follow up move of 9-12% is likely to be unfolded post this monthly derivative expiry. After trading at a 3 year low in April, LTIMindtree share price has been rising within a channel and has gained 25% since its April lows. A typical higher high – higher low formation underlines the bullish set up and inflows on the counter. The stock has widely outperformed its benchmark NIFTY IT index on a YTD basis which is down over 13% while LTIMindtree share price is down 8% in the same period of 2025. A move towards higher range of the bullish channel is likely to unfold for target of 5525. Zydus Lifesciences share price has closed at a 2 month high, after breaking out from a falling trendline earlier this month which was in place since August 2024. Repeated higher lows have been seen from the start of this month on daily charts, this 2 high note closing on charts is likely to allow further thrust on the stock for a resistance meet at its 200 DMA near 980 odd. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Reuters
15-05-2025
- Business
- Reuters
Indian IT firm Persistent Systems drops after report that key client UnitedHealth faces criminal probe
May 15 (Reuters) - Shares of Persistent Systems ( opens new tab declined 3% on Thursday, the most among Indian IT services providers, after a media report said that key client UnitedHealth Group (UNH.N), opens new tab was under a criminal probe for possible Medicare fraud. The U.S. Department of Justice's healthcare-fraud unit is overseeing the criminal investigation, which focuses on UnitedHealth's Medicare Advantage business practices, the Wall Street Journal had reported. The company said it stood by the integrity of the program. UnitedHealth is one of Persistent Systems' top five clients and has an "over $100 million relationship" with the company, said Rahul Jain, an IT analyst at Dolat Capital. It was not clear how much of Persistent Systems' revenue is linked to UnitedHealth. The company did not respond to a Reuters email seeking comment. The stock was set for its worst day in one month and the biggest drag on the IT index (.NIFTYIT), opens new tab, which was up 0.4%.
