The NSE Nifty 50 closed 1.07% lower at 22,277.85, while the BSE Sensex closed 1.16% higher at 73,383.11.
Despite bumper production, prices of cumin (jeera) are staying at elevated levels, causing industry to suspect hoarding by the traders and big farmers in anticipation of even higher prices.
According to Dinesh Patel, chairman, Agricultural Produce Market Committee (APMC) Unjha, world’s largest cumin market, “Thanks to robust production recorded in the latest season (Feb-May) on the back of highest ever acreage, cumin prices had come down sharply to around Rs 20,000 – 22,000 per quintal in mid-April, from Rs 60,000 per quintal in the festival season last year. However, prices of the commodity are on the upswing again and hovering around Rs 30,000 per quintal.”
He added that prices were expected to stabilize at this level for another month or two due to the farmers’ and traders’ reluctance to sell at lower prices, and could touch last year’s level around October as the festive season commences.
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Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in negative territory on April 15. The NSE Nifty 50 lost 241 points or 1.07% to close at 22,277.85, while the BSE Sensex pulled back 860 points or 1.16% to finish at 73,383.11. Nifty Bank dropped 817 points or 1.68% to close at 47,747.45.
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GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 69 points or 0.31% at 22,044 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 gained 247.35 points or 1.14% to settle at 21,894.55, while the BSE Sensex ended higher by 847.27 points or 1.18% to 72,568.45.
“The Nifty index exhibited significant strength, securing a notable breakout on the daily chart as it surpassed the key resistance level of 21,800. This bullish move positions the index for potential short-term targets of 22,000 and 22,200. Traders are advised to consider buying opportunities on any dips toward the support level. The momentum indicator RSI has also provided a buy crossover, further confirming the bullish sentiment in the market,” said Kunal Shah…
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded down by just 4.50 points or 0.02% at 22,435 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 ended down by 49.30 points or 0.22% to settle at 22,356.30, while the BSE Sensex dropped 195.16 points or 0.26% to 73,677.13.
“The domestic market experienced range bound movement post hitting new record high in the preceding day, influenced by cautious trend in global peers ahead of the Fed Chair’s congressional testimony and key U.S. jobs data. The absence of significant stimulus measures from China further dampened sentiment,” said Vinod Nair, Head of Research, Geojit Financial Services.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, …
Last month, Crisil Ratings upgraded the Rs 4,054 crore worth of bank facilities of Suzlon Energy and removed ‘rating watch with developing implications.’
“The rating upgrade factors in sharp reduction in debt (paying off the entire term debt) done from the proceeds of a recent QIP, ” the agency had noted.
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GIFT Nifty traded flat at 19,434.5, down marginally 0.08% during Wednesday’s early trading session, indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. On Tuesday, the benchmark domestic indices settled in negative territory. The NSE Nifty 50 fell 0.56% to settle at 19,528.75, while the BSE Sensex tumbled 316.31 points to 65,512.10.
“Consolidation continued given the rising US bond yields and dollar index, prompting FIIs to pull funds. While the moderation in oil prices may provide respite on the downside. Infrastructure activity indicates an acceleration led by the rise in core sector output. The auto stocks declined due to mixed bag monthly data, while a near-normal monsoon will aid positive sentiment for consumption in the near term,” said Vinod Nair, Head of Research at Geojit Financial Services.
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Rising crude oil prices and high valuations of domestic equities propelled Foreign Portfolio Investors to turn net sellers in FMCG, automobile, and several other sectors during the second half of March. They even moderated their fund infusions in capital goods and real estate sectors, which have been among their hot favourite bets in India during the year, leading to overall net outflows of $673 mln from Indian equities between Mar 16-Mar 31, data from National Securities Depository Ltd showed.
While the heavy inflows seen in the first half led to March seeing the highest net inflows in three months at $4.24 billion, the trend seen in the second half of March has continued in the initial few sessions in FY25.
“Two things happened in the first half of March. First was CAD (Current Account Deficit) number, which was much better-than-expected. We also had GDP number at roughly 8%,”said Priyam Shah, partner at Falcon Capital Partners, talking about the heavy …