Stock Market Today: The Indian stock market witnessed a positive trend today, driven primarily by gains in the shares of several major companies. Stocks like Bharat Electronics Limited (BEL), Bharti Airtel, Eternal, Tata Motors, Tata Steel, Maruti Suzuki, and Mahindra & Mahindra (M&M) saw significant buying activity.
On June 26th, the Indian stock market began its trading session with a positive outlook. The BSE Sensex rose by over 100 points, while the Nifty also approached the 25,300 mark. Investors showed b buying interest in several key stocks during the initial trading hours, providing support to the market.
This market rally is based on several domestic and international factors. A slight easing of global tensions, a dovish comment from the U.S. Federal Reserve, and confidence displayed in the recent report from the Reserve Bank of India (RBI) have all contributed to bolstering market sentiment.
Stocks Showing Strength
Key stocks witnessing buying pressure at the market open included BEL, Bharti Airtel, Eternal, Tata Motors, Tata Steel, Maruti Suzuki, and Mahindra & Mahindra. Investors have shown interest in these companies due to their improved business indicators and sector-specific trends.
Stocks of Tata Motors and Tata Steel were closely watched, as investor confidence in the Tata Group’s companies has steadily increased in recent months. Furthermore, shares of automotive sector companies like Maruti and M&M have seen gains driven by the festive season and rural demand.
Latest Updates for Sensex and Nifty
The BSE Sensex opened with a gain of approximately 100 points at 82,882.92. It continued to rise throughout the day, closing at 82,998.30, up 242.79 points, or 0.29 percent.
Similarly, the Nifty also began trading with strength and remained near the 25,300 mark during the initial hours. Purchases in mid-cap and small-cap stocks contributed to the continued momentum in the Nifty.
RBI Report Boosts Confidence
According to the Reserve Bank of India’s ‘State of the Economy’ report, the Indian economy’s infrastructure remains robust despite global uncertainties. The report noted that a 100 basis point reduction in the repo rate has been implemented since February, bringing it to 5.5 percent.
Moreover, the RBI is set to reduce the Cash Reserve Ratio (CRR) by 100 basis points in a phased manner starting September 6th, which is expected to inject approximately 2.5 trillion rupees into the market. This will make loans cheaper for banks and potentially improve liquidity conditions in the market.
Mixed Signals from Global Markets
In international markets, trading was mixed across major Asian-Pacific markets today. Japan’s Nikkei index rose by 0.98 percent, while the टॉपिक्स index increased by 0.48 percent. South Korea’s KOSPI fell by 0.51 percent, and Australia’s ASX 200 also slipped by 0.11 percent.
The stability in the ongoing Iran-Israel conflict in the Middle East has also provided some relief to investors. However, this remains a key risk for the market, and investors will continue to closely monitor its direction.
U.S. Market Activity
U.S. stock markets experienced some volatility during the night. The Dow Jones closed 0.25 percent lower at 42,982.43. The S&P 500 saw a slight decline and closed at 6,092.16, while the tech-heavy Nasdaq Composite rose by 0.31 percent to close at 19,973.55.
During his testimony before the Senate, Fed Chairman Jerome Powell reiterated that interest rate cuts could be considered if inflationary pressures prove to be temporary. This has fueled investor hopes for rate cuts before the end of the year.
Key Data Points to Watch
The market’s attention is now focused on the final figures for the U.S. GDP price index and the weekly unemployment benefit data. These figures could provide insights into the health of the U.S. economy and influence global market trends.
Furthermore, domestic attention is also focused on the next quarter’s estimates and guidance from companies in the IT and banking sectors.
IPO Market Also Sees Activity
In the primary market, significant activity has been observed in the IPO market in recent days. Several companies are preparing to launch new issues, and some have received positive responses. Strong listings and expectations of oversubscription are also supporting the secondary market.
