Five capital goods stocks, led by Kirloskar Oil Engines, touched fresh 52-week highs on Monday, delivering gains of up to 45% over the past month amid strong market momentum.
US-listed ETFs tracking India and Taiwan saw record outflows in March amid currency weakness, rising yields and energy concerns. Despite this, Asian equities rebounded sharply on hopes of easing geopolitical tensions. Analysts warn sentiment remains fragile, with India’s underperformance and Taiwan’s energy-linked risks still weighing on investor outlook.
NSE has signed an MoU with Bharat Metal Exchange to promote non-ferrous metal derivatives in India, aiming to strengthen price risk management and market participation. The collaboration will combine NSE’s derivatives infrastructure with BME’s industry expertise to expand hedging tools and deepen awareness across the metals value chain.
Reliance Industries is poised for a turnaround, with strong earnings, a Jio Platforms IPO, and AI/energy investments promising significant returns. Small banks are also attractive due to improving fundamentals and valuations. While IT valuations are cheap, earnings growth is a concern. Financials, particularly large private banks and NBFCs, remain a favored sector for their re-rating potential.
Bitcoin held near the $64,000 level on Monday, with mixed short-term price signals as long-term holders accumulated despite weak ETF inflows. Broader crypto markets remained subdued, with fear-driven sentiment persisting. Analysts noted short-term volatility, ongoing macro uncertainty, and cautious institutional flows even as selective accumulation supported price stability.
The Indian rupee held steady as easing U.S.-Iran tensions lowered oil prices, boosting sentiment. However, anticipation of potential U.S. Federal Reserve rate hikes kept traders watchful. Importer demand also capped rupee gains. Despite a roadmap for a U.S.-Iran deal, analysts suggest Asian currencies may face continued pressure from a strong dollar and the need for tighter monetary policy.
Turtlemint Fintech Solutions IPO: The issue, comprising a fresh issue of ₹660.7 crore and an offer-for-sale of ₹221.9 crore, is priced at ₹144-152 per share and will close for subscription on June 23.
IT stocks rebounded after a sharp sell-off triggered by Accenture’s guidance cut, with gains led by Coforge and Tech Mahindra. Analysts see valuations turning attractive but caution that volatility may persist. Technical indicators remain weak, with key support and resistance levels suggesting markets need stabilisation before any sustained recovery.
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