Image Source: The Hindu
Markets at Mid-day and Key Highlights
India’s equity benchmarks rebounded from a 4-day slide today, as the Sensex surged over 400 points and the Nifty 50 gained around 50 points, trading above the 25,200 mark. Improved domestic inflation data and positive signals from Asian peers fueled the market’s reversal from last week’s subdued mood.
Indian Stock Market: In-Depth Sector and Stock Movements
Opening notes: Both Nifty50 and Sensex opened in green, buoyed by a drop in retail inflation and broadly positive cues from Asia. The Nifty 50 traded near 25,250 while the Sensex jumped past 82,400 intraday.
Sector snapshot: Most major sectors were in the green, except metals. Standout performers were auto, PSU banks, financial services, FMCG, realty, and private banks, all gaining considerable ground. IT and pharma wavered, with some stocks facing mild pressure.
Stock-specific action: Bharat Electronics, Bharti Airtel, and Sun Pharma ranked among the top Sensex gainers, along with Mahindra & Mahindra, Tata Motors, Bajaj Finserv, Infosys, and Maruti Suzuki. HCL Tech, Tata Steel, UltraTech Cement, KOTAK Bank, ICICI Bank, and Axis Bank were among the laggards.
Broader markets: The BSE Midcap and Smallcap indices rose smartly, reflecting healthy risk appetite in the broader market. Notable gainers included Rallis India (+7%), along with Fact Ltd, Godfrey Phillips, and Sobha Limited which saw significant intraday swings.
Institutional flows: Foreign Institutional Investors remained net sellers, while Domestic Institutional Investors bought heavily, cushioning downside risks.
Market Sentiment and Technical Overview
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The Nifty maintained support above 25,000, signaling potential for further upward movement if this level holds. However, momentum indicators like RSI and MACD trailed, hinting at possible near-term resistance and consolidation.
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India VIX, the volatility gauge, remained stable, suggesting investor confidence despite consolidation.
Key Global Market Developments
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US indices closed marginally higher yesterday with S&P 500, Dow Jones, and Nasdaq all posting slight gains as investors awaited crucial bank earnings and fresh inflation numbers.
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Asian stocks performed mixed; Nikkei closed higher by 0.53%, Hang Seng rallied strongly, and Kospi slipped slightly. Market participants viewed recent tariff threats from the US as negotiating tools rather than triggers for major market disruptions.
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European bourses also edged up moderately, led by technology shares, while global commodity markets saw gold rise and oil prices slip due to geopolitical uncertainty and ongoing trade talks.
Sources: NDTV Profit, Business Standard, CNBC-TV18, Reuters, The Times of India, Moneycontrol, Equitymaster, The Hindu Business Line, Angel One
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