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Financial & Morning Market Updates- 06 May 25
Markets closed yesterday well below it’s resistance level of 24550, but stayed above 24450 levels…
Sensex closed at highest point of 2025 at 80797.
Adani group of shares had best time yesterday, as all shares were up as news of Adani Team meeting US Administration to drop charges against the Adani and his nephew came in. Bank index took the hit as Kotak Bank and SBI results kept them in red.
FII continued their pumping of money to Indian Markets . They were net buyers for nearly Rs 500 cr and DII too bought for nearly Rs 2800 cr.Warren Buffett has announced his retirement as CEO ,Berkshire Hathaway. However he will remain Chairman of the firm
₹ further strengthened against dollar as it closed at 84.25 per dollar
Oil continue to fall as it’s now trading below $60 a barrel
Bank of Baroda cut his Home loan rates to 8%. Bank of Maharashtra and Union Bank of India still remains cheapest Home loan provider at 7.85% and ICICI Bank and Karnataka Bank has highest loan rates starting from 9%.
Those who are looking for savings in fuel , should now use Nayara Energy pumps as they r offering Rs 3 per litre discount on Petrol and Re 1 per litre on Diesel. However payment has to be done digitally to avail these discounts. So on topping up ur car petrol tank of 60 litres, you can save upto Rs 180 per top up.
Markets Today
US markets closed in Red and Asian Markets are trading mixed.
A flat greenish start to day is expected in Indian Market today.
Weak dollar and low oil prices can push FII to continue investing in Indian markets..
A stiff resistance stays at top at 24550 levels, which if broken can bring breakout above 24600 levels.. However a strong lower support of 24300 levels is set , which if broken can bring market to 24100-200 levels…
BUY on DIP is what one should look at.. And a profit booking is advised with SELL ON RISE, as a thin line of Indo-Pak conflict is waiting to be broken to bring market low in short period.
STOCK NEWS
Paras Defence will be in focus after company announced a MoU with Israel based Hevendrines to explore opportunities in defence and civil drone market.
M&M net profit rose by 19.6% yoy in Q4 . Rs 25.3 dividend declared with record date as 04 July.Mahindra sold 2.53 Lakhs in Q4
Bombay Dyeing reported 82.6% decline in profit in Q4
Indian Hotels too came up with good results where profit rose by 25% and they also declared a dividend of Rs 2.25 per share. Moti lal Oswal and Jefferies have given fresh BUY call for Indian Hotels with avg tgt of Rs 950.
Ircon bags a order of Rs 187 cr for rural industrial park in Kerala.
Prataap snacks declare dividend of Rs 10 per share
Epigral declares Rs 3.5 dividend
Rossari Biotech Q4 revenue up by 13.6%
Those holding Yes Bank shares at higher rates may continue holding same, Japans powerhouse SMBC is in advanced talks to buy significant stake in Yes Bank.
Swiggy has temporarily shut down it’s Genie service in many cities citing failure to generate meaningful income
J&K bank reported decline of 8.5% yoy profit in Q4.
Hindustan Petroleum, Godrej consumers, One97 etc are set to declare their Q4 results today.
Gold/Silver
Gold jumped to 99850 levels bringing cheers to investors face.
However Silver remained flat at 97000 levels.
Happy Investing!!
Disclaimer: All investments are subject to market risks. Please check the fundamentals and other stock market parameters carefully in detail before investing. Also, it is always good to consult a qualified financial advisor for stock market investments. Opinions and Recommendations above are Authors’ personal, you are should carry out your own checks & balances and due diligence before investment.
