Wipro shares fell sharply on Monday, extending a two-day decline of more than 8% after the stock turned ex-record date for its Rs 15,000 crore buyback. Weak global tech sentiment, rising US bond yields, and cautious commentary from Morgan Stanley further weighed on investor sentiment toward the IT major.
Five Nifty500 stocks appeared on the White Marubozu bullish scanner on June 5, signalling strong buying momentum across select counters. The pattern reflects sustained bullish sentiment throughout the session, with buyers maintaining control from open to close, indicating potential continuation of upward momentum in the near term.
Adani Enterprises and Adani Energy Solutions will be in focus after GQG Partners sold stakes worth about Rs 5,750 crore via block deals, with SBI Mutual Fund buying the shares. The move is seen as portfolio rebalancing following a strong recovery in Adani Group stocks over the past year.
Oil prices surged over 2% on Monday after Israel launched fresh strikes on Lebanon, raising fears of renewed Middle East tensions and potential disruptions to crude flows through the Strait of Hormuz. U.S. crude climbed to $92.64 a barrel, while Brent crude rose to $95.42 a barrel.
The dollar surged to a two-month high following a robust U.S. jobs report, intensifying expectations for a Federal Reserve rate hike this year. The yen, meanwhile, weakened significantly, nearing intervention levels as the Bank of Japan lags behind other central banks in policy normalization.
Volatile trade likely as weak global cues keep sentiment cautious; analysts favour a sell-on-rise strategy until Nifty reclaims 23,700. Stocks in focus today include Adani Enterprises, Adani Energy, Hindustan Zinc, Maruti Suzuki, and IDFC First Bank amid company-specific developments.
India is set to reapply for inclusion in major global bond indices. This follows significant tax exemptions for foreign investors on capital gains and withholding taxes. The country has also expanded its long-dated securities pool. Officials are engaging with global index operators and the Bank for International Settlements. These moves aim to attract substantial foreign investment into Indian government bonds.
Anupam Tiwari of Groww Mutual Fund warns of a potential oil shock. He believes a multicap strategy combined with bottom-up investing is suitable for current market conditions. Valuations in mid and small caps have improved, making active stock picking more viable. Tiwari highlights opportunities in financials, industrials, autos, and specialty chemicals.
Domestic equities ended flat on Friday as MPC matched market expectations, while supportive measures announced by the RBI Governor helped strengthen the rupee.
Warning! Information Posting in this website is only for educational purpose. We are not responsible for losses incurred in Trading based on this information.