The key benchmark indices bounced back with panache in opening trades this morning taking cues from the global peers. The S&P BSE benchmark index soared to a high of 58,435 in intra-day deals led by strong gains in IT major Infosys and the HDFC twins.
Infosys rallied over 5 per cent to a high of Rs 1,494 on the back of healthy Q2 performance and Rs 9,300 crore share buyback. Analysts expect the stock to log further gains in the coming trading sessions. READ MORE
The key indices, however, pared gains in the latter half of the trading sessions as the overall sentiment remained cautious in the backdrop of a high inflation scenario globally. The Sensex eventually ended 685 points higher at 57,920. Thanks to the Friday-rally, the BSE index was able to trim its weekly loss to 271 points.
The NSE Nifty 50 index rallied past the 17,300-level in early deals, but finally settled at 17,186 – up 171 points.
The broader indices erased the entire day’s gain towards the close. The BSE Midcap index was up 0.1 per cent, while the Smallcap index ended unmoved.
Sectorally, the BSE IT and Bankex surged 1.7 per cent each. The Capital Goods index was the other notable gainer. On the other hand, Oil & Gas and Power indices slipped over a per cent each.
The overall breadth was marginally positive, with 1,835 stocks advancing versus 1,608 declining shares on the BSE.
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Benchmark indices climbed on Friday as investors cheered US Fed chair Jerome Powell’s comment that the US may be able to avoid a “deep recession” despite aggressive rate hikes. The S&P BSE Sensex, which had erased all the morning gains during the day, clawed back to end at 59,793, up 105 points or 0.18 per cent.
The Nifty50, on the other hand, settled at 17,833, higher by 35 points or 0.19 per cent. In the broader markets, the Nifty MidCap 100 added 0.35 per cent, while the Nifty SmallCap100 edged 0.06 per cent up.
Among individual stocks, Tech M, IndusInd Bank, Infosys, HCL Tech, Maruti Suzuki, SBI, and TCS were the top large-cap winners, while Astral, Godrej Industries, Bajaj Holdings and Investments, All Cargo Logistics, Nazara Technologies, and Stove Kraft were the top broader market gainers.
Sectorally, the Nifty IT index jumped the most, up 2 per cent, while the Nifty Financial Services and Realty indices dipped 0.5 per cent each.
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Equity markets snapped their four-day losing run and ended near day’s high on Friday as gains in pharma and banking counters, and select heavyweights lent support to the indices. Breaking away from a lackluster trade, the frontline indices picked pace in the second half of the session as ICICI Bank, Reliance Industries, SBI, and HDFC gained between 0.7 per cent and 1.6 per cent.
The S&P BSE Sensex closed with gains of 166 points, or 0.32 per cent, at 52,485 levels while the NSE’s Nifty50 settled at 15,722 levels, up 42 points or 0.27 per cent.
However, trading action was skewed towards small-cap stocks as hefty buying in Mangalam Cement, Omaxe, OnMobile Global, Route Mobile, and Indoco Remedies, pushed the BSE SmallCap index up 1 per cent. Gains in mid-cap index remained capped amid sell-off in Adani Transmission, Adani Enterprises, Adani Green Energy, JSW Energy, SAIL, and Vodafone Idea. The BSE MidCap index ended little changed.
Sectorally, the Nifty Pharma index was the top gainer, up 0.6 per cent, followed by the Nifty Bank index, up 0.4 per cent. Conversely, the Nifty Metal index was the top sectoral loser on the NSE, down 1.5 per cent.
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Bulls ruled on Dalal Street on Friday, the first day of the June F&O series, as a trinity of steady decline in Covid-19 cases, the announcement of unlock in the national capital, and $6 trillion fiscal stimulus in the US held up investor confidence.
The benchmark Nifty index scaled a fresh record peak of 15,469.6 on the National Stock Exchange (NSE) today, surpassing its previous record peak of 15,432 hit on February 16. The index traded higher for the sixth consecutive session as India recorded its lowest daily count of new Covid-19 cases in 44 days. The country, on Thursday, logged 186,364 fresh virus cases while death remained above 3,500-mark.
Add to it, Delhi Chief Minister Arvind Kejriwal announced earlier on Friday that the national capital will begin to unlock from Monday and said that construction activities and factories will be reopened from May 31.
Reading these developments as the first step towards a gradual uptick in economic activities, benchmark indices zoomed to day’s high of 51,529 on the S&P BSE Sensex and record peak on the Nifty. By the close, the Sensex index was quoting at 51,423 levels, up 308 points or 0.6 per cent while the Nifty50 was at 15,436-mark, up 98 points or 0.64 per cent.
Reliance Industries was the biggest contributor towards the indices’ rally today after the stock clocked its sharpest intra-day rally in two months and zoomed 6.4 per cent. The stock, which settled 5.8 per cent higher on the BSE, looks firm on both, fundamental and technical, grounds. Analysts at Jefferies maintained their ‘buy’ rating on the counter with a target of Rs 2,580 per share. READ MORE
That apart, Grasim, Adani Ports, M&M, Eicher Motors, Coal India, HDFC, Kotak Bank, and IndusInd Bank remained the top gainers of the day, up between 1 per cent and 3 per cent. On the downside, Sun Pharma, ICICI Bank, Bajaj Finserv, NTPC, PowerGrid, Shree Cement, and Nestle India were the top laggards, down up to 4.5 per cent.
Broader markets, however, settled the day in the red on the back of profit-booking. The BSE Midcap index fell 0.12 per cent and the BSE SmallCap index dropped 0.48 per cent.
In terms of sectoral participation, the Nifty PSU Bank index gained 0.7 per cent, followed by the Nifty Private Bank index, up 0.3 per cent. On the contrary, the Nifty Pharma index slipped 1.2 per cent on the NSE.
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Investors lightened their portfolios and decided to sit on cash on Friday as they await Finance Minister Nirmala Sitharaman’s third Union Budget presentation due on Monday, February 1. In a sea-saw trade today, stock specific moves swayed markets even as overall mood remained subdued.
At the index level, the benchmark S&P BSE Sensex swung 1,260 points in the intra-day trade and hit an intra-day high and low of 47,424 and 46,160. The index eventually settled 588 points, or 1.26 per cent, lower at 46,286 levels. Dr Reddy’s Labs (down 5.5 per cent) was the top loser on the index after the pharmaceutical major’s consolidated net profit came in at Rs 19.8 crore for the quarter ended December, sharply lower than analysts’ estimate of Rs 726.5 crore.
That apart, Maruti Suzuki, Bajaj Auto, Infosys, Bharti Airtel, and Bajaj Finserv, down between 5 per cent and 2.5 per cent, were the top drags. On the flipside, IndusInd Bank (up nearly 6 per cent), Sun Pharma, HDFC Bank, and ICICI Bank were the only gainers on the Sensex.
On the NSE, the Nifty50 index closed at 13,635 levels, down 183 points or 1.32 per cent. The index hit an intra-day low of 13,597.
Both the benchmarks have erased around 5 per cent during the week.
The broader market, however, remained relatively stable with the S&P BSE MidCap and S&P BSE SmallCap index down 0.69 per cent and 0.25 per cent, respectively at close.
On the sectoral front, financial and realty stocks held their ground with the Nifty PSU Bank and Realty indices settling 1.7 per cent and 0.7 per cent higher, respectively. On the downside, Nifty Auto index tumbled around 3 per cent, while Nifty Pharma and Metal indices declined around 2 per cent each.
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Source: https://stockarchitect.com/sector/Pharmaceuticals
The S&P BSE Sensex partially recovered after crashing over 1,400 points in from the day’s high to settle 280 points lower at 36,842 on Friday.
The Nifty 50 index hit a low of 10,866 levels, but settled 91 points lower at 11,143.
The decline came on the back of a sharp fall in NBFC stocks. DHFL skidded over 50% in intraday trade on fears of a liquidity crisis. The management, however, assuaged investor concerns and said the company has not defaulted on any repayments. The stock settled nearly 45 per cent lower at Rs 337.80 on the BSE. According to the analysts, the IL&FS crisis was the main reason behind the selloff. That apart, a rise in bond yields also weighed on the sentiment.
In the broader markets, the S&P BSE SmallCap index fell 3 per cent to 15,763 levels, while the S&P BSE MidCap index lost 1.7 per cent to end at 15,596 levels.
NSE’s Volatility Index (India VIX), or the fear gauge, rose by over 11%
YES Bank fell 34 per cent in intra-day trade after the Reserve Bank of India (RBI) trimmed Rana Kapoor’s tenure as its MD & CEO. The private sector lender said on Wednesday that the Reserve Bank of India (RBI) had allowed Kapoor to continue only till January 31. According to sources, the RBI has cited corporate governance and regulatory issues for not extending Kapoor’s term. Further, the lender has been directed to search for a successor.
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Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching 33,726 levels.
Investor sentiment has been upbeat in India with the government’s recent announcement of a recapitalisation plan for banks.
The broader NSE Nifty ended 0.3% up at 10,452 to end the week 1.2% higher while Sensex ended 0.3% higher at 33,685, to post a weekly gain of 1.6%.
About 1,429 shares advanced against 1,316 declining shares on the BSE.
Tata Power Co Ltd reported an about 44 per cent slump in quarterly profit, hurt by lower income from its power generation business, missing analysts’ forecasts.
Shares of Amtek Group companies – Amtek Auto, Metalyst Forgings and Castex Technologies – have locked in their respective upper limit of circuit breaker on the BSE after Bharat Forge said that it has participated in the process of acquiring Amtek Auto.
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Benchmark indices rose on Friday and gaining for a third straight week after much weaker-than-expected economic growth data raised hopes the central bank would cut interest rates at its next policy meeting in October.
India’s gross domestic product (GDP) growth slid to a three-year low of 5.7% in the quarter ended June, a marked slowdown from a 6.1% growth in the previous quarter.
However, India’s factory activity unexpectedly expanded in August, snapping back from a contraction the previous month, as disruptions stemming from confusion over GST eased.
Broader markets outperformed the benchmark indices with BSE Midcap and BSE Smallcap up 0.9% and 0.8% respectively.
Shares of Gravita India touched 52-week high of Rs 134.65, rising 11% intraday on the back of strong Q1 numbers.
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The benchmark indices on Friday settled the day lower as auto makers dropped on sharp decline in monthly sales and stocks of telecom service providers – Bharti Airtel, Idea Cellular, Reliance Communications (RCom) – were hit by worries about intensifying competition with the extension of freebies offered by Reliance Jio (RJio) till March 2017.
Sentiment was also muted ahead of the release of the US monthly jobs data, a referendum in Italy over its constitution, and the Reserve Bank of India’s policy review next week.
The S&P BSE Sensex ended at 26,230, down 329 points, while the broader Nifty50 closed at 8,086, down 106 points.
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