Latest news with #NiftyOil&Gas
Economic Times
29-06-2025
- Business
- Economic Times
Global developments, FII activity among 7 cues to drive Dalal Street action this week
Markets ended their five-week-long consolidation phase, buoyed by improving global cues, receding geopolitical risks, and a noticeable pickup in foreign institutional investor (FII) buying during the latter half of the week. After a hesitant start, momentum built during midweek as overall sentiment turned more constructive. ADVERTISEMENT With tensions between Iran and Israel showing signs of easing, global risk appetite improved, driving indices higher. Consequently, benchmark indices closed the week near their highs, with the Nifty settling at 25,637.80 and the Sensex at 84,058.90. Sectorally, the market breadth tilted positive with most NSE indices in the green. Nifty Oil & Gas outshone peers with a 1.19% uptick, followed by Nifty Infrastructure and Nifty Energy, which climbed 1.07% and 1%, respectively. PSU Banks, Pharma, Metals, and Media also posted moderate gains, rising between 0.4% and 0.7%. Financial heavyweights saw mild traction, with Nifty Bank and Nifty Private Bank edging up 0.41% and 0.32%, respectively. On the flip side, Nifty Realty emerged as the biggest drag, slipping 1.55%, while IT and Consumer Durables sectors witnessed mild profit-taking. Meanwhile, market volatility cooled further, with India VIX declining 1.9% to 12.36, signaling a more stable undertone. 'Index has formed a sizable bull candle with a higher high and higher low signaling continuation of the up move. Index in the process on expected lines closed firmly above the last 6 weeks range (25,200-24,500), signaling extension of the positive momentum,' said a note by Bajaj Broking. 'Going ahead, index to maintain overall positive bias and head towards 25,900-26,000 levels in the coming week, being the measuring implication of the last week's range (25,200-24,500). The upper band of the recent consolidation range, 25,100-25,200 is likely to reverse its role and act as key support in coming weeks,' the note added. ADVERTISEMENT Here are the key factors that will likely impact the D-Street action this week: Looking ahead, global cues will continue to drive market direction. Despite improved sentiment, caution persists regarding potential tariff escalations, with U.S. tariffs scheduled to resume from July 9 and updates on trade agreements will remain in focus. ADVERTISEMENT The U.S. President recently announced on a social media platform the signing of a deal with China and indicated a potential deal with India, although details remain scant. Further clarity on these developments will be closely monitored by the high-frequency data such as IIP and PMI figures will be in focus, along with the monsoon progress. ADVERTISEMENT The trend in foreign institutional investor (FII) flows will also be closely monitored. On Friday, foreign institutional investors (FIIs) were net buyers at Rs 1,504.93 crore, while the domestic institutional investors (DIIs) were net sellers at Rs 765.82 crore. Brent and U.S. West Texas Intermediate crude prices fell on Friday, reversing gains after a report that OPEC+ was planning to hike production in August following an increase planned for July. ADVERTISEMENT The Indian rupee had its best week since January 2023, as an Iran-Israel ceasefire cooled oil prices and sapped safe-haven dollar demand, while worries over the Federal Reserve's future independence added pressure on the rupee gained 1.3% on the week, its best performance in two and a half years, to close at 85.4750 per U.S. dollar on Friday."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. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Mint
27-06-2025
- Business
- Mint
52 stocks hit 52-week lows, 164 stocks at 52-week high as Nifty 50, Sensex end higher 4th straight session
Stock market today: On Friday, 164 stocks hit their 52-week high, Abbott India Ltd, Affle 3I Ltd, Bharti Airtel Ltd, Bharti Hexacom Ltd, Dalmia Bharat Ltd, Fortis Healthcare Ltd, Gillette India Ltd, Godfrey Phillips India Ltd, Grasim Industries Ltd, HDFC Life Insurance Company Ltd, InterGlobe Aviation Ltd, Max Healthcare Institute Ltd, Multi Commodity Exchange of India Ltd (MCX), and Poonawalla Fincorp Ltd. In contrast, 52 stocks touched 52-week lows, with notable mentions like Axita Cotton Ltd, Digitide Solutions Ltd, Vikram Kamats Hospitality Ltd, Ola Electric Mobility Ltd, Uma Exports Ltd, and V R Films & Studios Ltd. The Indian stock market concluded the day with a positive trend, showcasing investor confidence due to reduced global tensions and encouraging local factors. The BSE Sensex rose by roughly 303 points, finishing close to 84,058, while the Nifty50 increased by around 88 points to close near 25,637. This upward movement in the market was largely fueled by robust performances in sectors like Oil & Gas and PSU Banks, with the Nifty Oil & Gas index climbing over 0.5%. Vaibhav Vidwani, a Research Analyst at Bonanza, noted that the favourable conclusion was driven by expectations of possible delays in US tariff deadlines, enhanced global market confidence, and a reduction in geopolitical tensions in the Middle East, all of which increased investors' willingness to take risks. Furthermore, the Indian rupee appreciated against the dollar, trading approximately at 85.51, which also contributed to positive market sentiment.
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Business Standard
27-06-2025
- Business
- Business Standard
PSBs, Oil & Gas stocks boost benchmarks in 4th straight upday; SMIDs gain
Shares of public sector banks and oil & gas-related companies were in high demand as the benchmark Indian equity indices — BSE Sensex and NSE Nifty50 — continued their northward march for the fourth consecutive session during intraday trade on Friday, June 27. The sentiments remain favourable among the broader as well as the sectoral markets, with steady buying seen across the counters. At last check, the BSE Sensex was trading higher by 168 points, or 0.20 per cent, at 83,924. The index has so far fluctuated in the range of 83,985.09–83,645.41 during the session. Similarly, the NSE Nifty50 was trading at 25,614, up 65.50 points, or 0.26 per cent. The index was seen at an intraday high of 25,622.50 on Friday. Nifty50 eyes 25,700–25,750 Technically, the Nifty50 index, Aakash Shah, technical research analyst at Choice Broking, believes, is well-positioned above its 10-day and 20-day EMAs, while the RSI crossing 65 indicates rising momentum. As long as Nifty holds above key support levels, Shah sees a buy-on-dips approach as favorable, within further upside towards 25,650 possible. "Nifty gave a strong breakout above its recent consolidation, showing rising optimism among traders. Heavy put writing and call unwinding also confirmed bullish strength. With no major resistance till 25,700–25,750, the rally may extend 150–200 points. Support now lies around 25,300–25,350, keeping the trend firmly positive," said Shah. Furthermore, Jio Financial Services, IndusInd Bank, Power Grid Corporation of India, Asian Paints, and Adani Enterprises were leading the gains among the Nifty50 constituent stocks, rising higher in the range of 4.70 per cent to 1.61 per cent. Conversely, Bajaj Finance, Dr Reddy's Laboratories, Grasim Industries, Eicher Motors, and Bajaj Finserv were among the top laggards of the benchmark constituents, trading lower in the range of 1.31 per cent to 0.95 per cent. Broader markets trade higher Among the broader markets, Nifty Midcap100 and Nifty Smallcap100 indices were trading higher by 0.70 per cent and 0.80 per cent, respectively. Himadri Speciality Chemical was the lead gainer in the space, rising higher by 13.48 per cent. Godfrey Phillips India, Adani Total Gas, Hindustan Petroleum Corporation (HPCL), and Bharti Hexacom were among other gainers in the space, trading higher by up to 6 per cent during intraday deals. Nifty Oil & Gas, PSU Bank indices outperform Nifty Oil & Gas, and PSU Bank indices were outperforming other sectoral indices as well as the benchmarks, ruling higher by 1.29 per cent, and 1.01 per cent, respectively. Adani Total Gas, Gujarat State Petronet, and Mahanagar Gas were among the gainers of Nifty Oil & Gas constituents, rising higher up to 5.6 per cent. Bank of Maharashtra, Union Bank of India, and Punjab & Sind Bank were leading among the Nifty PSU Bank index constituents, trading higher over 1 per cent each. Barring the Nifty Realty index (down 0.94 per cent), all the other sectoral indices on the NSE traded higher during intraday trade on Friday. Market breadth remains positive Market breadth remained positive, with 1,766 out of 2,754 stocks trading higher, 914 trading lower, and 74 unchanged on the NSE during the intraday deals. As many as 70 stocks were quoting at 52-week highs on the NSE, while 18 touched 52-week lows. The number of stocks hitting the upper circuit rose to 76, while 28 were hitting their lower circuit limits. The market cap of the total listed companies on the NSE stood at ₹5.31 trillion. Meanwhile, the India VIX, which gauges volatility in the markets, was trading lower by 1.13 per cent at 12.45 points.
Business Standard
26-06-2025
- Business
- Business Standard
Benchmarks trade with decent gains; oil & gas shares gain
The key equity indices continued to trade with impressive gains in the morning trade. The Nifty traded above the 25,350 mark. Oil & gas shares gained for a second day. At 10:29 ST, the barometer index, the S&P BSE Sensex, jumped 406.99 points or 0.49% to 83,152.90. The Nifty 50 index added 122.40 points or 0.48% to 25,367.40. In the broader market, the S&P BSE Mid-Cap index shed 0.07% and the S&P BSE Small-Cap index fell 0.03%. The market breadth was positive. On the BSE, 1,917 shares rose and 1,604 shares fell. A total of 182 shares were unchanged. The Nifty Oil & Gas index added 0.88% to 11,583.65. The index rallied 1.12% in the two trading sessions. Bharat Petroleum Corporation (up 1.69%), Castrol India (up 1.6%), Aegis Logistics (up 1.26%), Reliance Industries (up 1.17%), Hindustan Petroleum Corporation (up 0.96%), Indian Oil Corporation (up 0.77%), Gujarat Gas (up 0.48%), Oil & Natural Gas Corpn (up 0.47%), Petronet LNG (up 0.44%) and Adani Total Gas (up 0.28%) added. On the other hand, Mahanagar Gas (down 0.53%), Indraprastha Gas (down 0.43%) and Gujarat State Petronet (down 0.31%) edged lower. Stocks in Spotlight: Western Carriers (India) jumped 7% after the company announced that it has secured a work order valued at approximately Rs 558 crore from Jindal Stainless (JSL). DCX Systems shed 0.26%. The company announced that it has secured an order worth Rs 4.36 crore from one of the leading multinational companies specialized in the areas of defence, aerospace, space, and security systems. Lloyds Metals and Energy added 1.86% after the company said that it has received the environmental clearance (EC) to expand its iron ore mining capacity to 55 million tonnes per annum (MTPA).
India Today
24-06-2025
- Business
- India Today
Explained: Why are oil sector stocks rising today?
Oil sector stocks displayed gains today, influenced by recent geopolitical events. A ceasefire between Iran and Israel, announced by US President Donald Trump, led to fluctuations in oil ceasefire announcement triggered a decline in oil prices, which had experienced a prior surge due to geopolitical tensions. The benchmark Brent crude contract fell below $70 per barrel after reaching a peak of $81.40 earlier this decline was further impacted by Iran's decision to refrain from disrupting supply through the Strait of Hormuz, choosing instead to target a U.S. military base in Qatar. The Nifty Oil & Gas index recorded a gain of 0.90%, with individual stocks showing mixed such as Hindustan Petroleum and Bharat Petroleum Corporation Limited saw increases of 4.16% and 3.27%, notable gainers included Indian Oil Corporation (up 2.89%) and Castrol India (up 2.20%). However, some companies faced declines, notably ONGC, which dropped by 1.70%.The positive sentiment in the oil sector was driven by reduced fears of supply disruptions, which had previously put upward pressure on situation is closely tied to India's economic outlook, given its reliance on imported crude oil. A sustained drop in oil prices could ease inflationary this month, the Reserve Bank of India revised its inflation forecast for 2025 to 3.7% and reduced its key lending rate by 50 basis points, a steeper-than-expected cut. This move by the central bank reflects an optimistic view of the inflation trajectory, contingent on stable oil prices. The reduction in lending rates is also aimed at stimulating economic growth by making borrowing cheaper for businesses and consumers.- EndsMust Watch
