ICICI Direct, Euro moved up by 0.57% yesterday amid weakness in dollar and rise in risk appetite in the global markets.
According to Geojit, The Solvent Extractors' Association of India is set to host three international conferences in the next two months, according to a press release on Monday.
Brent crude futures climbed 20 cents, or 0.3%, to $79.85 a barrel by 0133 GMT. U.S. WTI crude futures were up 24 cents, or 0.3%, at $74.35 a barrel.
Sensex Today | Stock Market LIVE Updates: Coal India, Hero MotoCorp, NTPC, BPCL and Power Grid are among the top gainers on the Nifty, while losers are Adani Enterprises, Maruti Suzuki, Infosys, Eicher Motors and Grasim. Among sectors, oil & gas, power and metal indices up 0.5-1 percent each. BSE Midcap and Smallcap indices are trading with marginal gains.
The biggest gainers on the Nifty included Hindalco Industries, UltraTech Cement, Bajaj Auto, JSW Steel and Tata Motors, while losers were ONGC, NTPC, Adani Enterprises, UPL and Adani Ports.
In the realm of commodities, iron ore prices have surged to an 18-month peak, reaching $140 per tone. China remains the dominant force, constituting 70% of the world's demand. Strong requirements in shipping, machinery, automobiles, and infrastructure are fueling this trend. Catch Manisha Gupta as she provides comprehensive insights on today's #Commodities Corner.
As the Indian benchmark indices extended their winning streak to the third session, analysts attribute the strong momentum to the underlying bullish sentiment among investors.
Analysts expect limited downside pressure on the Nifty 50 as the year end approaches.
ICICI Direct, Rupee depreciated yesterday amid month end dollar demand from importers and FII outflows.
According to Geojit, India's total exports of oil meal during 2023-24 (Apr-Mar) are projected at over 4.5 mln tn, up from 4.3 mln tn last year, Ajay Jhunjhunwala, president of the Solvent Extractors' Association of India said in a press release on Monday.
The broader indices underperformed the main indices as BSE midcap and smallcap indices ended with marginal gains.
Brent crude futures fell 18 cents, or 0.22%, to $80.89 a barrel by 0101 GMT. U.S. WTI crude futures were down 22 cents, or 0.29%, at $75.35 a barrel.
Biggest Nifty gainers were Divis Laboratories, Hero MotoCorp, Adani Enterprises, Hindalco and NTPC, while losers were Bajaj Finance, Bajaj Finserv, Infosys, TCS and Tata Motors
Indian equities are poised to enter 2024 on a buoyant note. Given that it is an election year, it will have a significant bearing on sentiment in the market
Alumina prices hit record highs; Gained 7% on Friday to $446/tonne. Copper at 4 mth high on firm physical demand. Mine supply issues in Latin America. Catch Manisha Gupta in conversation with Nishant Kumar, Technical Analyst, N K Charts
Analysts anticipate strong market momentum to continue but also advise investors to exhibit caution as Nifty 50 approaches higher levels.
The market is projected to stay range bound in the final week of the current calendar year, with the Nifty 50 encountering resistance in the 21,500-21,600 range, according to analysts.
Except for Information Technology, all sectoral indices traded in the green. UPL, Tata Steel, Tata Consumer Products, NTPC and Britannia Industries were among the top Nifty gainers, while Infosys, Wipro, Tech Mahindra, TCS and HCL Technologies were the laggards
According to Geojit, The government extended the policy to allow the import of crude soyoil, crude palm oil and crude sunflower seed oil at lower duty by another year till Mar 31, 2025, the Ministry of Finance said in an official notification.
BSE midcap index added 0.7 percent and smallcap index up 0.5 percent.
Brent crude futures fell 26 cents, or 0.3%, to $79.13 a barrel by 0115 GMT while U.S. West Texas Intermediate crude was at $73.59 a barrel, up 3 cents.
On Friday, Indian rupee ended 12 paise higher at 83.15 per dollar versus Thursday's close of 83.27.
While there has been some success with non-oil trade with a select few countries, rupee continues to be shunned by oil exporters.
For the week, BSE Sensex and Nifty50 down 0.5 percent each.
Nifty and Sensex are likely to continue their upward trend due to a concentrated rally in select stocks. However, the concern in the market now is the excessive valuations in the mid and small-cap segments