This is how analysts read the market pulse:
“The market witnessed a smart recovery from yesterday’s volatile session due to the impact of the STT hike on F&O and the government’s higher borrowing plan for FY27. At the same time, the policy continuity of the Budget, with a clear emphasis on growth and fiscal prudence, has helped boost confidence in the medium to long-term earnings prospects. A sharp decline in global crude oil prices has also provided some relief, reflecting signs of easing geopolitical tensions between the US and Iran. In the near term, market sentiment is expected to remain cautious due to understated third-quarter earnings and ongoing global tensions,” said Vinod Nair, head of research at Geojit Investments.
American markets
The S&P 500 and Nasdaq swung between gains and losses on Monday as markets absorbed a sharp sell-off in precious metals at the start of a week of corporate earnings and major economic data.
Gold fell as much as 6% and silver tumbled 10% before recouping some losses after commodity exchange CME Group raised margin requirements for precious metals following a historic plunge on Friday. US-listed gold and silver miners managed to offset declines and trade higher.
European markets
European shares were higher, while in the US they were under pressure on renewed concerns that technology valuations are too frothy.
But in Europe, the major indexes were all up almost a percentage point by mid-afternoon, despite heavy losses from heavy miners, as oil fell and the dollar stabilized. Gold and silver began to tumble on Friday after news that US President Donald Trump had picked Kevin Warsh to become the new head of the US Federal Reserve, seen as more hawkish than some of the other names mentioned.
Traders view Kevin Warsh, a former Morgan Stanley investment banker and Fed governor, as the most powerful inflation fighter among the eventual candidates, raising expectations that his monetary policy would support the dollar.
Technical view
After a sharp decline, the Nifty has seen a strong rebound, which is a normal market reaction, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the broader trend remains weak.
“As long as the index remains below the 200-DMA, sentiment is likely to remain negative, and any rebound should be used to exit leveraged long positions or create short positions. On the upside, immediate resistance is at 25,200, while on the downside, support is seen around 24,900,” De said.
Most active stocks in terms of turnover
Hindustan Copper (Rs 459 crore), Anant Raj (Rs 203 crore), Delhivery (Rs 144 crore), Vedanta (Rs 131 crore), Hindustan Zinc (Rs 112 crore), HAL (Rs 111 crore) and Aegis Logistics (Rs 1,891 crore) were among the most active stocks on BSE by value. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Vodafone Idea (shares traded: Rs 4.7 crore), YES Bank (shares traded: Rs 80.69 crore), Hindustan Copper (shares traded: Rs 65.34 lakh), RPower (shares traded: Rs 70.56 lakh), Suzlon Energy (shares traded: Rs 67.32 lakh), Bharat Coking Coal (shares traded: Rs 58.18 lakh) and Ola Electric (shares traded: Rs 58.18 lakh). 56.13 crore) were among the most actively traded stocks on NSE by volume.
Stocks that show buying interest
Shares of MRPL, Anant Raj, Sundaram Finance, Latent View Analytics, Century Plyboards, Power Grids and Hindustan Zinc were among the stocks that witnessed strong buying interest from market participants.
52 Week High
More than 68 stocks hit their 52-week highs today, while 253 stocks fell to their 52-week lows. Aether Industries, Bajaj Consumer, Borana, MTAR Technologies and Simandhar Impex were among those that hit 52-week highs.
Stocks see selling pressure
Stocks that witnessed significant selling pressure were Intellect Design Arena, Cholamandalam Finance Holding, PB Fintech (Policybazaar), Bharat Dynamics, Godfrey Phillips, Jyoti CNC and Oil India.
Sentiment meter bullish
Market sentiment was bullish. Of the 4,428 shares traded on the BSE on Monday, 1,898 shares saw a decline, 2,384 rose, while 146 shares remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times)
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