Indian equities rose in tandem with global peers after the release of US inflation data in October raised investor hopes that inflation has peaked. Barring minor downtick in the Nifty Auto, FMCG, and PSU Bank indices, all other sectoral indices advanced on the bourses. The Nifty IT index led from the front with around 4 per cent surge.
Meanwhile, HDFC twins, information technology (IT), and other heavyweighs including Reliance Industries, Tata Steel, L&T, and Bajaj twins propelled the S&P BSE Sensex to a fresh 52-week high of 61,841, while the Nifty50 touched 18,362.
The indices, eventually, ended at 61,795, and 18,350 levels, up 1,181 points and 322 points, respectively.
In the broader markets, the BSE MidCap, and the BSE SmallCap indices added 0.15 per cent, and 0.33 per cent, respectively, as against the frontline indices’ 2-per cent gain.
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A tug of war between bulls and bears was ultimately won by the bulls on Thursday, the day of the expiry of the weekly F&O contracts. That apart, buoyancy in the global markets on the back of a $2 trillion US government spending plan, and record GST collection for the month of March back home gave the requisite armour to investors.
Among the frontline indices, the benchmark S&P BSE Sensex reclaimed the 50,000-mark on a closing basis and closed at 50,030, after advancing 521 points or 1.05 per cent. Earlier in the day, the index had briefly slipped in the red to touch a low of 49,478.5. On the NSE, the Nifty50 index closed at 14,867 levels, up 177 points or 1.2 per cent.
The index breadth remained firmly in the favour of the bulls as 25 of the 30 constituents on the Sensex and 41 of the 50 constituents on the Nifty settled the session in the green. IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Bajaj Finance, Sun Pharma, Axis Bank, and UltraTech Cement outperformed the Sensex today, up between 2 per cent and 4 per cent. JSW Steel, Hindalco, Adani Ports, Tata Steel, and Hero MotoCorp were the additional gainers on the Nifty, rallying up to 8 per cent.
On the downside, HUL, Nestle India, TCS, Divis Labs, HDFC Life, TCS, and Titan ended lower between 0.32 per cent and 1.3 per cent.
Taking into consideration the BSE MidCap and SmallCap indices’ 1.66 per cent and 2 per cent gains, respectively, the overall market breadth was in the ratio of 1:3 in the favour of advances.
As regards sectoral performance, the Nifty Metal index settled over 5 per cent higher on the NSE today, followed by the Nifty PSU bank index, up 2.6 per cent. The Nifty Bank, Auto, Financial Services, Private Bank, and Pharma indices, meanwhile, gained up to 2 per cent. The Nifty IT and Realty indices closed with less than a per cent gain.
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Source: https://stockarchitect.com/sector/Footwear
After surging 500 points in the intra-day trade, the S&P BSE Sensex witnessed a sharp fall at the fag-end of the session, mainly due to profit-booking to end at 38,024, up 269 points or 0.71 per cent. Financial stocks such as HDFC Bank and ICICI Bank contributed the most to the index’s gains while Reliance Industries (RIL), ITC and Hindustan Unilever (HUL) emerged as the biggest drags.
The NSE’s benchmark index Nifty50 closed above 11,400 level at 11,427, up 84 points or 0.74 per cent. The index hit a high of 11,487 levels during the day.
Both Sensex and Nifty reclaimed their crucial levels of 38,000 and 11,400 levels, respectively in the intra-day trade after a gap of six months.
On a weekly basis, Sensex gained 3.68 per cent and Nifty added 3.54 per cent.
Market breadth remained in favour of declines as out 2,860 companies traded on BSE, 1,476 declined and 1,209 advanced while 175 remained unchanged. A total of 59 securities hit their 52-week highs while 111 scrips hit their one-year lows.
In the broader market, the S&P BSE MidCap index ended 83 points, or 0.55 per cent higher at 15,172, while the S&P BSE SmallCap index settled at 14,837, up 51 points or 0.34 per cent.
Banking barometer Nifty Bank, too hit a fresh record high of 29,520.70 during the day. It ended at 29,381.45, up over 1.50 per cent with 10 out of 12 constituents ending in the green.
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Snapping their three-day losing streak, the benchmark indices settled around 1 per cent higher on Friday ahead of the outcome of state exit polls due later in the day.
That apart, market will also closely watch the outcome of OPEC-Russia meet, which is expected to come later in the day.
The S&P BSE Sensex climbed 361 points or 1.02 per cent to settle at 35,673 while NSE’s Nifty50 index added 93 points or 0.87 per cent to end at 10,694.
Among sectoral indices, the Nifty Bank index rose 1.5 per cent led by a rise in ICICI Bank and HDFC Bank. The Nifty Auto index, too, rose 0.9 per cent led by Bajaj Auto and Maruti Suzuki.
In the broader markets, the S&P BSE MidCap index rose 0.2 per cent to end at 14,717, while the S&P BSE SmallCap index slipped 0.3 per cent to 14,105.
On the political front, market participants are awaiting exit poll results of five state elections due after market hours today. The result of the assembly elections will likely set the tone for the general elections next year.
The rupee traded on a firm note during the day rising to 70.45 against the US dollar amid fall in oil prices ahead of the crucial OPEC meet outcome. The domestic unit on Thursday closed at 70.90.
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The benchmark indices ended over 0.5 per cent higher led by a rise in the financial stocks and Reliance Industries (RIL).
The S&P BSE Sensex ended at 35,457, up 197 points (0.56 per cent), while the broader Nifty50 index settled at 10,682, up 66 points (0.62 per cent). In the broader markets, the S&P BSE MidCap index ended flat at 14,998, while the S&P BSE SmallCap slipped 0.4 per cent to end at 14,486.
Among sectoral indices, the Nifty PSU Bank index settled 2 per cent higher led by Oriental Bank of Commerce and Bank of India.
The rupee traded on a firm note on Friday rising to 71.71 per US dollar in intra-day trade, up from its previous close of 71.98 against the greenback.
Shares of RIL on Friday rose 2.7 per cent to Rs 1,127 on the BSE helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation. On the BSE, RIL’s market capitalisation was at Rs 7,14,668.54 crore, while India’s largest IT firm by revenue TCS slipped to the second spot with a valuation of Rs 7,06,292.61 crore.
Shares of Rallis India, Deepak Fertilisers & Chemicals, Dixon Technologies (India), Hexaware Technologies, Take Solutions and BASF were among 22 stocks from the S&P BSE Allcap index hitting their respective 52-week lows on Friday in intra-day trade.
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Benchmark indices gained on Friday, as the Modi government is expected to win the no-confidence vote, to be held at 6 pm today. In the 545-member (including the Speaker) Lok Sabha, the BJP-led NDA can bank on around 311 members.
The S&P BSE Sensex ended the day at 36,496, up 145 points while the broader Nifty50 index settled at 11,010, up 53 points.
IT and pharma stocks gained as the rupee hit an all-time low. The Nifty IT index was trading up by 1.5 per cent with Infosys, Tech Mahindra and HCL Tech up between 1.6 per cent to 2.6 per cent. Meanwhile, in the pharma sector, Sun Pharma and Cipla gained over 2.5 per cent each.
Among individual stocks, Bajaj Finserv hit a record high, after the Bajaj Group-owned asset & wealth management firm posted a 41 per cent surge in its first-quarter profit on Thursday.
Bajaj Auto, on the other hand, dipped 9 per cent after the company reported a lower than expected 21% year on year (YoY) growth in standalone net profit Rs 11.15 billion in June quarter (Q1FY19). Analysts on an average had expected a profit of around Rs 13 billion for the quarter
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Benchmark indices edged lower on Friday as losses in financials offset gains in auto stocks, with investor focus shifting to the monsoons.
The S&P BSE Sensex ended at 35,227, down 95 points while the broader Nifty50 index settled at 10,696, down 40 points.
Among sectoral indices, the Nifty Bank index ended over 1% lower led by a fall in the shares of IndusInd Bank and Federal Bank.
Meanwhile, government data showed on Thursday that Indian economy grew 7.7% year-on-year in January-March, its quickest pace in nearly two years driven by higher growth in manufacturing, the farm sector and construction.
Adani Power Mundra, a subsidiary of Adani Power, is likely to approach the National Company Law Tribunal (NCLT) for bankruptcy protection. This comes after its lenders stepped back from stake-sale negotiations with Gujarat Urja Vikas Nigam (GUVNL), the state power distribution company.
Sun TV Network fell for fifth straight session, down 3.9% at Rs 881.85, on the NSE. Sun TV Network jumped 5.69% in last one year as compared to a 10.94% rally in Nifty and a 1.48% spurt in the Nifty Media index.
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The benchmark indices erased entire losses to settle near day’s high thanks to gains in metal, oil & gas and banking stocks, while the pharma index was the sole sectoral loser. Almost all constituents of the Nifty pharma index, which shed as much as 2.5% intraday, were in red.
The Sensex ended at 32,325, up 87 points, while the Nifty50 closed at 10,066, up 52 points. Both indices settled the week marginally higher.
Metals and oil marketing companies also led support to the market but the correction in Reliance Industries and healthcare stocks capped gains. Equity benchmarks opened lower and remained range bound till recovery in later part of the session.
In the broader market, the BSE Midcap outperformed to gain 0.6%, while the BSE Smallcap index settled little changed.
The breadth, indicating the overall health of the market, was negative. On the BSE, 1,388 shares fell and 1,198 shares rose. A total of 172 shares remained unchanged.
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The benchmark indices on Friday settled marginally lower after market heavyweight Tata Consultancy Services slumped on worries about its future following key management changes.
The S&P BSE Sensex ended at 27,238, down 9 points, while the broader Nifty50 closed at 8,400, down 7 points.
In the broader market, the BSE Midcap (down 0.03%) and BSE Smallcap indices (up 0.03%) closed flat.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,493 shares declined and 1,236 shares rose. A total of 177 shares were unchanged.
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