News for IDBI Bank Limited (IDBI.NS)

Indian markets tumbled to seven-month lows on Monday, with Sensex and Nifty 50 down 1.08% and 1.14%, respectively, as weak earnings and global uncertainties rattled investor sentiment. FIIs selling and economic concerns added to the decline.

The Indian market closed lower on Friday, ending a three-day winning streak, primarily due to losses in Infosys and Axis Bank following their quarterly results. Weak sentiment in IT and banking stocks, coupled with concerns about earnings growth and liquidity, led to the decline. The BSE Sensex fell by 0.55% and Nifty 50 declined by 0.47%, as investors adopted a cautious stance.

The Indian market extended its winning streak to a third session, driven by gains in financials and Reliance Industries. Positive sentiment followed softened U.S. inflation data, boosting hopes for a Federal Reserve rate cut. Wall Street also saw strong earnings reports, further enhancing market sentiment.

The Nifty IT index closed 0.49 per cent at 43188.85.

The Nifty Realty index closed 0.67 per cent at 927.05.

The Nifty Auto index closed 0.65 per cent at 22861.25.

The NSE Nifty index closed 98.6 points up at 23311.8

The Nifty Pharma index closed 0.29 per cent at 21909.75.

The Nifty Auto index was trading 0.55 per cent at 22837.05.

The Nifty IT index was trading 0.16 per cent at 43331.25.

In the Nifty 50 index, 31 stocks were trading in the green, while 19 stocks were trading in the red.

The NSE Nifty index was trading 97.6 points up at 23310.8

AMFI rejig: Stocks that have been excluded from the largecap list included Adani Total Gas, IDBI Bank Ltd, Shree Cement Ltd, Union Bank of India Ltd and BHEL.

The Nifty formed a long bearish candle, indicating ongoing pressure. A minor pullback or sideways consolidation may occur in the next one to two days. Support is at 24,100 and 24,000, while immediate resistance is at 24,450–500, with crucial resistance at 24,700–750. Open interest data shows the highest call OI at 24,400 and 24,300, with put OI at 24,200.

Indian equity indices Sensex and Nifty50 ended a three-day losing streak, driven by Axis Bank gains, despite foreign fund outflows causing a third consecutive weekly loss for benchmarks.

Domestic benchmark equity indices, Sensex and Nifty50, closed marginally lower on Friday, weighed down by FMCG and energy stocks. However, they recorded their best weekly performance since the end of June, ahead of a likely rate cut by the Federal Reserve.

The Nifty Auto index closed 0.16 per cent up at 25820.85.

The Nifty Realty index closed 1.73 per cent up at 1053.65.

The Nifty Bank index was trading 0.2 per cent up at 51873.45.