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The Nifty experienced a setback, failing to sustain a breakout from its month-long consolidation phase, closing with a weekly loss of 1.14%. Geopolitical tensions, particularly the Israel-Iran conflict, are expected to influence global equity markets, including India. Despite these uncertainties, the Indian market demonstrates resilience, remaining within the 24500-25100 range.
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Amidst escalating geopolitical tensions, Indian markets faced a downturn, with the Nifty and Sensex both declining. Analyst Sudeep Shah suggests a cautious approach, highlighting crucial support levels for the Nifty at 24450 and resistance at 24900. He anticipates pressure on oil marketing and aviation sectors due to rising crude prices, while defense and IT sectors may outperform.
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It shows how many times a company can cover its interest expenses with its earnings before interest and taxes (EBIT).
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During the five trading sessions ending June 13, the Sensex dropped 1.30% or 1,070 points, settling at 81,119. The index closed lower on three of those five days. However, amid the broader market weakness, 11 BSE 500 stocks recorded gains in all five sessions. (Data Source: ACE Equity)
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Spicejet announced a significant profit increase for the March quarter. The airline's standalone profit after tax rose 173% YoY. This marks their highest ever quarterly profit. Spicejet also reported a full-year net profit after seven years. Improved yields and cost optimization drove the growth. The company's Chairman, Ajay Singh, expressed confidence in Spicejet's sustainable growth.
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