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Sensex Today | Stock Market LIVE Updates: Sensex jumps 200 points, Nifty near 23,600 in pre-open trade
21 Jun 2024 | 09:04:36 AM IST
On Thursday, the stock markets ended with slight gains after trading positively throughout the day, supported by robust Foreign Institutional Investor (FII) activity and favorable macroeconomic conditions.
Siddhartha Khemka, Head of Retail Research at Motilal Oswal, highlighted that optimism is bolstered by expectations of a budget aimed at fostering growth, which is anticipated to spur targeted movements within specific sectors.
Show moreSiddhartha Khemka, Head of Retail Research at Motilal Oswal, highlighted that optimism is bolstered by expectations of a budget aimed at fostering growth, which is anticipated to spur targeted movements within specific sectors.
1 New Update
Stock Market LIVE Updates: Sensex jumps 200 points, Nifty near 23,600 in pre-open trade
The market is in a consolidation phase, and this is likely to continue. There are no major triggers for aggressive buying or selling. Even in this consolidation phase the undertone of the market is bullish and, therefore, buying on dips will emerge imparting resilience to the market. Strong up moves will attract profit booking and, therefore, sustained rally would be difficult. Even when the market consolidates, leading private sector banking stocks have the potential to move up further. Large delivery based buying is happening in this segment. This is perhaps the only segment which offers value in this overvalued market.
- Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Sensex Today | Stock Market LIVE Updates | Brokerage Radar: Goldman Sachs on wires & cables
- Polycab: Maintain Buy; Hike Target Price to Rs 7,100 from Rs 6,360
- KEI: Maintain Neutral; Hike Target Price to Rs 3,690 from Rs 3,330
- Target price hike owing to rally in copper prices
- Rally in copper to drive a revenue uptick
Sensex Today | Stock Market LIVE Updates | Brokerage Radar: Macquarie on consumption
- Nature and timing of such stimuli to the consumer is unknown
- See upside risk to Jubilant; remove from Marquee Sell List
- Also prefer HUL, Titan and Asian Paints
Sensex Today | Stock Market LIVE Updates | Brokerage Radar: Macquarie on consumption
- Crop support price increase similar to earlier years
- Focus will now move to the budget in July on potential actions to provide stimuli to the consumer
- There is a potential of such budgetary support coming in form of reduction in personal taxes
- Such an action would also benefit urban masses
Sensex Today | Stock Market LIVE Updates | Brokerage Radar: JPMorgan on India consumer
- Directional correlation between EPS revisions and stock price performance
- Relative valuations are now close to Long term averages
- Buy on any dips: Asian Paints, Tata Consumer, Jubilant Food, United Spirits
- Key avoids - Nykaa, Adani Wilmar, Britannia, HONASA
- On sidelines - Crompton Greaves Consumer, Colgate
- Compounding earnings growth - Avenue Supermarts, Titan, Nestle, Pidilite, Havells
- Attractive risk-reward - HUL, Godrej Consumer
- Potential Turnaround - United Breweries (Source: ETNow)
Sensex Today | Stock Market LIVE Updates | Brokerage Radar: JPMorgan on India consumer
- Demand recovery slow for staples & mass discretionary but expect pace to pick up in FY25
- Comfort on margin trajectory; Modest gains ahead
- Competitive intensity stays stiff
- Premiumization and portfolio expansion in focus
- Multiple dynamics at play in distribution ecosystem
- Overseas Overseas - Limited capital deployment
- Capex trending up across Foods, QSR and Paints
- DIIs add while FIls are more selective (Source: ETNow)
Wall Street bucks global rally as bond yields rise
On Thursday, Wall Street stocks retreated from earlier record highs in line with gains seen in international markets, despite soft U.S. economic data. Treasury yields, anticipating new supply next week, rebounded after an initial dip.
Meanwhile, the dollar strengthened as higher U.S. yields widened the gap compared to rates in other currencies, which are generally lower. The dollar approached the 160 yen mark, a level that prompted Tokyo to intervene in late April to stabilize its currency.
Meanwhile, the dollar strengthened as higher U.S. yields widened the gap compared to rates in other currencies, which are generally lower. The dollar approached the 160 yen mark, a level that prompted Tokyo to intervene in late April to stabilize its currency.
Dollar extends gains against yen with US economic strength in focus
The dollar rose to a seven-week high against the yen on Thursday, while the sterling and euro fell amid on the U.S. economy is coming off the boil while traders watch for more data bolstering the case for a Federal Reserve rate cut this year.
May retail sales released this week were tepid and the labor market appears to be weakening. The number of Americans filing new claims for unemployment benefits fell last week, but was still more than expected, data released on Thursday showed, indicating the jobs market remained strong despite a gradual cooling.
May retail sales released this week were tepid and the labor market appears to be weakening. The number of Americans filing new claims for unemployment benefits fell last week, but was still more than expected, data released on Thursday showed, indicating the jobs market remained strong despite a gradual cooling.
Oil prices slip as rate hike worries come into focus
In early trading on Friday, crude oil futures declined due to expectations of prolonged higher interest rates in Asia and the United States. However, prices were supported by a decrease in U.S. oil inventories.
Specifically, Brent futures for August delivery fell by 11 cents to $85.60 per barrel as of 0013 GMT, while U.S. crude prices dropped 9 cents to $81.20 per barrel.
Specifically, Brent futures for August delivery fell by 11 cents to $85.60 per barrel as of 0013 GMT, while U.S. crude prices dropped 9 cents to $81.20 per barrel.
Sensex Today | Stock Market LIVE Updates | Forex News
- The euro was little changed at $1.0705
- The Japanese yen was little changed at 158.92 per dollar
- The offshore yuan was little changed at 7.2918 per dollar
- The Australian dollar was little changed at $0.6659
Sensex Today | Stock Market LIVE Updates | Global Markets Wrap
- S&P 500 futures were little changed as of 9:10 a.m. Tokyo time
- Hang Seng futures fell 0.5%
- Japan’s Topix rose 0.6%
- Australia’s S&P/ASX 200 rose 0.3%
- Euro Stoxx 50 futures rose 1.2%
- Nasdaq 100 futures rose 0.1%
