Nikkei ends at three-week low on profit-taking as second half of fiscal year begins

[hfe_template id='11223'] [ad_1]
Japan's Nikkei share average ended at a three-week low on Wednesday in a broad sell-off as investors booked profits from the latest rally at the start of the second half of the fiscal year.

The Nikkei fell 0.85% at 44,550.85, its lowest close since September 11. The index lost for a fourth straight session.


The broader Topix lost 1.37% at 3,094.74.

"It is a retreat from the rally that boosted the Nikkei until last month," said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory.


"Investors wanted to take profits, so sold the stocks that rose the most, such as Tokyo Electron and SoftBank Group."

Chip-making equipment maker Tokyo Electron surged 27.6% in September in its largest monthly gain since February 2024, making it a key driver behind the Nikkei's record high hit last month. The index added 5.2% in September in its sixth straight month of gains. On the day, Tokyo Electron fell 2.09% and technology start-up investor SoftBank Group lost 2.38%, becoming the biggest drags on the Nikkei. Chip-testing equipment maker Advantest edged up 0.17%, tracking overnight gains in the U.S. chip index.

All but two of the Tokyo Stock Exchange's 33 industry sub-indexes fell.

The bank index slipped 3.07% to become the worst-performing sector. Mitsubishi UFJ Financial Group and Mizuho Financial Group lost 3.17% and 3.83%, respectively.

The real estate firm index fell 2.83%

Drug makers rose 0.95%, with Otsuka Holdings and Chugai Pharmaceutical up 5.22% and 3.86%, respectively.

Of the 1,600 stocks trading on the TSE's prime market, 91% fell and 7% rose.

Add ET Logo as a Reliable and Trusted News Source
[ad_2] Source link https://mrgaga.in/nikkei-ends-at-three-week-low-on-profit-taking-as-second-half-of-fiscal-year-begins/?feed_id=51507&_unique_id=68ddf39ca8f19

Comments

Post a Comment

Popular posts from this blog

India VIX jumps 100% in one month. Could fear levels take Nifty further down?

Image
[hfe_template id='11223'] [ad_1] Volatility in Indian equity markets has surged sharply over the past month, with the India VIX nearly doubling as geopolitical tensions and global uncertainty triggered aggressive selling in equities. India VIX, often referred to as the market’s fear gauge, has jumped close to 100% over the past month, reflecting growing nervousness among investors. The spike has coincided with a sharp correction in the broader market, with the Nifty 50 declining about 8% during the same period. The escalation of tensions involving the United States, Israel and Iran has intensified market anxiety in recent days, pushing crude oil prices sharply higher and triggering a global risk-off sentiment. However, analysts note that volatility had already been building even before the conflict escalated, reflecting broader concerns around global growth, foreign capital outflows and stretched valuations in equities. The heightened uncertainty translated into a sharp ...
Read more

Can Sensex, Nifty snap 2-day fall on Monday? 7 factors that could decide market mood this week

Image
[hfe_template id='11223'] [ad_1] Benchmark indices Sensex and Nifty ended the week on a bearish note, closing over a percent lower each as a deepening selloff in IT stocks rattled investor sentiment amid mounting fears of AI-led disruption. Further, stronger-than-expected jobs data for January dampened hopes of a US Fed interest rate cut. Here are 7 factors that could decide market action in the coming week: 1.) Infosys, Wipro ADRs rebound - After a brutal two-day selloff that saw Infosys and Wipro ADRs plunge as much as 14.5%, Friday’s session brought a much-needed breather. Bargain hunting kicked in at lower levels, sparking a sharp rebound as Infosys climbed 3% while Wipro gained 4%—helping both stocks close the week on a far stronger note. International brokerage firm JP Morgan has a message for panic-stricken investors: IT services firms are the indispensable "plumbers of the tech world" and their dividend yields have now hit levels last seen only during ...
Read more

Waaree Energies shares in focus after Q4 profit rises 34% to Rs 619 crore, revenue up 36%

Image
[hfe_template id='11223'] [ad_1] Waaree Energies shares will be in focus on Wednesday after the solar panel maker reported a strong Q4 performance, with net profit rising 34.1% year-on-year (YoY) to Rs 618.9 crore for the quarter ended March 31, 2025. In the same quarter last year, the company had reported a profit of Rs 461.5 crore. Revenue from operations jumped 36.4% to Rs 4,003.9 crore, up from Rs 2,935.8 crore in the year-ago period, according to the company’s regulatory filing. EBITDA more than doubled to Rs 922.6 crore in Q4 FY25, up 120.6% from Rs 418.3 crore in the same quarter last year. The EBITDA margin improved to 23% from 14.3% a year ago. The company produced 2.06 GW of solar modules in the fourth quarter, up from 1.35 GW in the same period last year. For the full year, module production reached 7.13 GW, compared to 4.77 GW in FY24. For the full financial year FY25, revenue rose 27.62% YoY to Rs 14,846.06 crore. Profit after tax more than doubled to Rs 1,9...
Read more