Markets oscillated between gains and losses in Friday’s intra-day session as investors remained torn between strong corporate earnings back home and mixed global cues.
The benchmark S&P BSE Sensex ended today’s choppy trade 19 points down at 53,140 levels while the broader Nifty50 shut shop at 15,923-mark, down 1 point. Both the indices hit their respective lifetime highs of 53,291 and 15,962 in intra-day session.
HCL Tech (down over 3 per cent), Eicher Motors, Bajaj Finserv, Infosys, Tata Consumer Products, and Adani ports were the top drags on the benchmarks today. On the flipside, Divis Labs, Bharti Airtel, Ultratech Cement, and Tata Steel were the top gainers.
The mid- and small-cap indices meanwhile, outperformed and ended over 0.4 per cent higher each amid gains in shares of brokerage firms, IRCTC, AB Capital, Datamatics, and RPP Infra.
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Earnings optimism and positive global cues fuelled a broad-based rally in the markets with benchmark indices settling over a per cent higher on Friday. IT stocks led from the front and contributed nearly half of Sensex’s 600-point gains today. Reliance Industries, Maruti Suzuki, HDFC Bank, and L&T provided the remaining fillip to the BSE barometer.
The S&P BSE Sensex notched 689 points, or 1.43 per cent, to end at fresh closing peak of 48,782.5. The index hit a new lifetime high of 48,854.34 levels earlier in the day. The Sensex index gained 2 per cent during the week and clocked the longest stretch of weekly gains since 2009.
Maruti Suzuki jumped 6 per cent and remained the top Sensex gainer, followed by Tech Mahindra, up 5 per cent. The IT company today entered the elite Rs 1-trillion market capitalisation club, becoming the fifth IT firm to achieve the feat. At close, its m-cap was Rs 1.01 trillion.
That apart, Tata Consultancy Services (TCS) hit a record high of Rs 3,127.55 apiece in the intra-day trade and closed 3 per cent higher ahead of the announcement of Q3FY21 results. The IT firm’s revenue in constant currency (CC) terms is expected to rise in the range of 2.4-4 per cent on quarter-on-quarter (QoQ) basis while it may grow between 3-4.5 per cent in dollar revenue.
The broader Nifty50 too, ended at fresh closing peak of 14,347, closing 210 points or 1.48 per cent higher on the NSE. 41 of the 50 constituents ended the day in the green. The index touched lifetime high of 14,367 in noon deals today. For the week, the index was up 2.3 per cent.
In the mid-cap space, S&P BSE MidCap index, though underperformed the frontline index, settled 1 per cent higher at 19,138.7 level after hitting a record peak of 19,161 earlier in the day, and clocked a 5-per cent weekly gain. The S&P BSE SmallCap index, on the other hand, ended at 18,908.59 levels, up 0.72 per cent.
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Benchmark indices climbed off the day’s top but still ended around 0.5 per cent higher on Friday amid buying in IT, auto, and FMCG counters.
The S&P BSE Sensex ended at 36,021, up 178 points or 0.5 per cent, having risen to as high as 36,110 earlier in the day. The Nifty50 index settled above the 10,600 level at 10,607, up 56 points or 0.53 per cent. India VIX slipped 3 per cent to 25.69 levels.
On a weekly basis, Sensex gained 2.41 per cent while Nifty added 2.16 per cent.
Bharti Airtel (up 4 per cent) and Bajaj Auto (up 2.5 per cent) were the top Sensex gainers. Reliance Industries gained 1.5 per cent after the company announced that Intel has invested Rs 1,894.5 crore in Jio Platforms for a 0.39 per cent stake.
Further, shares of defence companies rallied in the trade and climbed up to 12 per cent on the BSE after the Ministry of Defence (MoD) approved the purchase of weapons and equipment worth Rs 38,900 crore. Bharat Dynamics ended 12.55 per cent higher at Rs 375.80 on the BSE while Bharat Electronics gained 9 per cent to Rs 97.25
Moreover, JB Chemicals rose 3 per cent during the day after it said global investment firm KKR will pick up a controlling stake of 54 per cent in the company. The stock, however, ended flat. Meanwhile, HDFC Life gained around 4.5 per cent as the company will replace Vedanta on Nifty with effect from July 31.
In the broader market, the S&P BSE MidCap index rose 0.56 per cent while the S&P BSE SmallCap index gained 0.47 per cent
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After days of brutal sell-off, the domestic equity market witnessed a sharp rebound on Friday and ended with around 6 per cent gains as positive global cues and coordinated efforts by countries across the globe to fight coronavirus (Covid-19) pandemic soothed investors’ nerves.
The S&P BSE Sensex rallied 1,628 points or 5.75 per cent to settle at 29,916. Of 30 constituents, 28 advanced and just 2 declined. Reliance Industries (RIL), HDFC and TCS contributed the most to the index’s gains. ONGC jumped over 18.5 per cent to Rs 72.45 apiece. It ended as the top gainer on the index. Other heavyweights such as RIL, Hindustan Unilever (HUL), and TCS gained in the range of 10-12 per cent.
On the downside, HDFC Bank slipped over 1 per cent to Rs 882 after global brokerage house Bernstein downgraded the stock to ‘underperform’ and sharply slashed the target price to Rs 750 from Rs 1,400 earlier.
On the NSE, headline index Nifty gained 482 points or 5.83 per cent to settle at 8,745 levels.
On a weekly basis, both Sensex and Nifty slipped over 12 per cent.
All the sectoral indices on the NSE ended in the green. Nifty FMCG advanced the most – up around 9 per cent to 26,073 levels while Nifty IT surged over 8.5 per cent to 12,306 points. Metal stocks, too, witnessed solid buying as the Nifty Metal index ended 7.7 per cent higher at 1,695 levels.
In the broader market, the Nifty Midcap 100 index jumped around 5 per cent to 12,642 levels while the Nifty SmallCap index gained over 2 per cent to 3,874 points.
Market breadth was in favour of buyers as out of 2,605 companies traded on the BSE, 1,447 advanced and 1,008 declined while 150 remained unchanged. Volatility index India VIX declined over 7 per cent to 66.92 levels.
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Following the global sell-off, Indian equity markets, too, settled lower on Friday after US military killed Iran Revolutionary Guards’ commander Qasem Soleimani in a surprise air-strike. The middle-east tensions sent Brent Crude Futures soaring, while market sentiment turned sour at D-Street.
Brent crude futures jumped nearly $3 on Friday after a US air strike in Baghdad killed top Iranian and Iraqi military commanders, sparking concerns of disruption to Middle East oil supplies. At 3:10 pm, Brent Crude Futures were at $68.62 per barrel-mark, up 3.5 per cent.
The S&P BSE Sensex, which hit an intra-day low of 41,348.68, recovered slightly in the fag-end of the session and settled 162.03 points, or 0.39 per cent, lower at 41,464.61 level. 20 of the 30 constituents ending the day in the red. Oil-linked stocks, such as paints, aviation, oil-marketing companies (OMCs), and financial counters remained under pressure.
In the intra-day trade, Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL), for instance, declined 2.9 per cent each on the BSE. Reliance Industries, Indraprastha Gas Ltd (IGL), and Indian Oil Corporation (IOC), too, slumped up to 0.7 per cent.
On the NSE, the Nifty50 lost 55.50 points, or 0.45 per cent, to settle at 12,226.65-mark. Sectorally, Nifty PSU Bank index slipped the most, down 2 per cent at close. Besides, Nifty Bank, Auto, Private Bank indices slipped over 1 per cent. On the upside, Nifty IT index advanced 1.3 per cent on the back of a weaker rupee.
In the broader market, small-caps traded in the green territory, while mid-caps followed benchmarks. The S&P BSE mid-cap index was down 0.44 per cent, while the S&P BSE small-cap index was up 0.01 per cent at close.
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Benchmark indices ended Friday’s volatile session in the red, thus recording fall for the eighth straight day and third consecutive week, as investors remained cautious ahead of the US-China trade negotiation outcome.
India VIX was up almost 4 per cent to 26.49
The benchmark S&P BSE Sensex ended the day 96 points, or 0.26 per cent, lower at 37,463, with Tata Consultancy Services (TCS), HCL Tech, Tata Steel, IndusInd Bank and Infosys contributing the most to the indices’ fall. Twenty-one of the 30 constituents of BSE ended the session with losses.
The broader index Nifty50 gave up the crucial 11,300 mark and slipped 23 points, or 0.20 per cent, at 11,279. About 1,187 shares advanced, 1,270 shares declined, and 162 shares were unchanged.
Among sectoral indices, both Nifty IT and Nifty Metal dipped more than 1 per cent. However, Nifty PSU Bank gained 2.5 per cent, the highest among the gainers.
The broader indices fared better than their benchmark peers with the S&P BSE MidCap index ending 34 points, or 0.24 per cent, higher at 14,390, while the S&P BSE SmallCap index was ruling at 14,106, up 29 points or 0.21 per cent.
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Selling in banks, realty and metal counters dragged the domestic equity market lower on Thursday. The headline index, S&P BSE Sensex lost 135 points or 0.34 per cent to settle at 39,140, with YES Bank being the biggest loser and Reliance Industries (RIL) the top gainer.
Out of 30 components, 22 scrips ended in the red and rest eight in the green.
Market breadth remained in favour of declines as out of 2,727 securities traded on BSE, 1,671 declined and 888 advanced while 168 scrips remained unchanged.
The broader Nifty50 index of the National Stock Exchange (NSE) lost 34 points or 0.29 per cent to end at 11,753.
On a weekly basis, both the indices gained around 1 per cent.
In the broader market, the S&P BSE Midcap index slipped 138 points or nearly 1 0.89 per cent to close at 15,382.57 while the S&P BSE Smallcap index ended at 15,021, down around 150 points or 1 per cent.
All the sectoral indices ended in the negative territory with realty stocks taking the hardest knock, followed by media and PSU banks.
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The benchmark indices ended marginally lower on Friday, weighed down by automobile and information (IT) stocks. The S&P BSE Sensex ended at 36,227, down 97 points, while the broader Nifty50 index settled at 10,930, down 47 points.
In sectoral indices, the Nifty IT index settled 1.1 per cent lower due to a fall in the shares of Infibeam Avenues which crashed 71 per cent to end at Rs 57.90. The Nifty Auto Index, too, fell 2.3 per cent driven by fall in Hero MotoCorp, Apollo Tyres and Mahindra & Mahindra.
Among individual stocks, YES Bank stock fell 9.5 per cent to Rs 183.90 on the BSE. The stock had hit an intraday low of Rs 166.15.
In broader markets, the shares of midcap and smallcap companies continued to remain under pressure on Friday as well, with the S&P BSE Midcap (14,762) and the S&P BSE Smallcap (14,643) indices hitting their respective 52-week lows in intra-day trade on the BSE.
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The benchmark indices settled higher on Friday taking cues from their Asian peers.
The S&P BSE Sensex ended at 37,948, up 284 points while the broader Nifty50 index settled at 11,471, up 86 points.
Among key stocks, the fast moving consumer goods (FMCG) major ITC rose over 2 per cent to end at Rs 313 levels on the BSE. The stock hit a fresh 52-week high of Rs 315 earlier today. ICICI Bank and State Bank of India also ended higher in a range of 1.8 to 3.0 per cent on the BSE.
Among sectors, the Nifty Pharma index ended higher for the fourth straight day, hitting an over six-month high on the National Stock Exchange (NSE). Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, Glenmark Pharmaceuticals, Lupin, Aurobindo Pharma and Cadila Healthcare from the index, were up in the range of 1 per cent to 4 per cent on the NSE.
Shares of paper companies were trading higher on the bourses on expectations of a positive outlook for the current July-September quarter.
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The benchmark indices settled over 1% higher on Friday after the rupee recovered from its all-time low and Asian peers staged a pullback.
The S&P BSE Sensex ended at 35,423, up 386 points while the broader Nifty50 index settled at 10,714, up 125 points.
Among sectoral indices, the Nifty Metal index settled 2.8% higher led by a surge in the shares of Jindal Steel & Power, NMDC and Hindalco Industries. The Nifty PSU Bank index also rose 1.35% led by IDBI Bank, Oriental Bank of Commerce and Syndicate Bank.
On the BSE, the S&P BSE Midcap index rose 1.8% higher on Friday and the S&P BSE Smallcap index ended 1.9% up.
Among individual stocks, Tata Steel was the biggest gainer on S&P BSE Sensex, gaining 3.6% to settle at Rs 567.85. The market heavyweight Reliance Industries also rose 3% to end at Rs 972.95 on Friday.
The rupee, which breached the 69 per dollar mark for the first time on Thursday, recovered tracking a rebound in Asian shares and currencies. The Indian currency had on Thursday breached the 69-mark but covered lost ground to finally close at an all-time low of 68.79 with a fall of 18 paise against the US dollar due to multiple headwinds like weak global cues and concerns related to inflation and fiscal slippage.
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