Will stock-specific trading continue to drive market gains?
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Mumbai: India's equity indices eked out gains on Friday after early losses as the optimism around the Reserve Bank of India's dovish policy stance fizzled out and trading turned stock-specific.
The NSE Nifty closed at 24,894.25, up 0.2% or 57.95 points, while the BSE Sensex ended 0.3% higher at 81,207.17, a gain of 223.86 points.
"Although the market advanced in the last two sessions, it is expected to be a pullback move rather than a reversal," said Bhavik Joshi, Business Head at INVasset PMS. "Stock-specific rallies are becoming common in the current set up as investors chase momentum while the indices remain flat." Both indices gained nearly 1% in this truncated trading week after declining 2.7% last week. Financial markets were shut for trading on Thursday for Mahatma Gandhi Jayanti and Dussehra.
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Elsewhere in Asia, South Korea gained 2.7% on Friday, while Japan and Taiwan rose 1.9% and 1.5% respectively. China and Indonesia advanced around 0.5% each. Hong Kong moved 0.5% lower.
At home, the Nifty Midcap 150 and Smallcap 250 index moved 0.9% higher on Friday. Out of the 4,339 shares traded on the BSE, 2,636 advanced and 1,568 declined. Over the past week, the midcap and smallcap indices gained around 2% each.
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The Nifty Metal index rose 1.8% while the PSU Bank and consumer durables indices moved over 1% higher on Friday.Joshi said that metals and PSU Bank indices are close to record highs of October last year and both have been underperformers in the last few months. "Since metals are priced in dollar terms, the fall in the dollar as it loses value is supportive for metal companies," said Joshi. "The government announcement of the merger of banks in the PSU space is a tailwind for that sector."
"Any dips towards the support zone of 24,400-24,600 can be used as a buying opportunity and the index might face a hurdle at 25,000 levels in the near term," said Ruchit Jain, Head Technical Research, Motilal Oswal Financial Services.
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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 ...
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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 ...
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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...
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