The RBI’s seemingly dovish policy, with repo and reverse repo rates unchanged at 4 per cent and 3.35 per cent, respectively, bolstered bull sentiment on Dalal Street on Friday. The central bank also retained the GDP growth forecast at 9.5 per cent for the on-going fiscal year and revised CPI inflation projection downward to 5.3 per cent for the whole fiscal (from 5.7 per cent) which further supported the sentiment.
Overall, the frontline S&P BSE Sensex closed the session at 60,059 levels, up 381 points, while the Nifty50 ended at 17,895 levels, up 105 points.
Reliance Industries, which hit a record high of Rs 2,684 apiece in the intra-day trade, settled nearly 4 per cent higher and contributed nearly 2/3rd towards Sensex’s gains today. Other contributors included Infosys, TCS, L&T, HCL Tech, and ICICI Bank.
In the broader markets, the BSE MidCap index ended 0.15 per cent higher and the BSE SmallCap index added 0.92 per cent. Both the indices hit a record high of 25,956 and 29,358, respectively, earlier today.
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The domestic equity market ended Friday’s session, the last trading day of Samvat 2076 on a positive note after oscillating between gains and losses during the day. The S&P BSE Sensex today gained 86 points, or 0.2 per cent to settle at 43,443 levels. With today’s gain, the index rallied 10.68 per cent during Samvat 2076.
NSE’s Nifty ended Friday’s session at 12,720, up 29 points, or 0.23 per cent. India VIX fell around 4.5 per cent to 19.7 levels.
On a weekly basis, both Sensex and Nifty gained 3.7 per cent each.
Meanwhile, market will open for one hour on Saturday, November 14 for the auspicious “Muhurat Trading session, which will start at 06:15 pm. However, it will remain closed on Monday, November 16 on account of Diwali-Balipratipada.
In the broader market, the S&P BSE MidCap index rose 0.86 per cent to 15,876 levels while the S&P BSE SmallCap index advanced over 1 per cent to 15,639 points.
Sectorally, all the indices but Nifty FMCG, and Nifty Media settled in the green.
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Benchmark indices fell on Thursday, snapping a six-day record-setting rally, as profit-taking hit IT stocks while large state-run lenders slid as they stood to receive less money than expected from a government recapitalisation plan.
The S&P BSE Sensex ended at 36,050, up 111 points while the broader Nifty50 index settled at 11,069, up 16 points.
The government’s Rs 881.39 billion capital infusion in struggling public sector banks should help in part to mitigate risks but resolution of bad assets and continued high credit costs hinder the sector’s near-term performance, Fitch Ratings said on Thursday. While the capital infusion plan was less than half of its estimate of $65 billion needed for the sector, Fitch said yesterday’s announcement will encourage banks to resolve their non-performing loan (NPL) stock faster as improved capital buffers bolster their ability to absorb potential large haircuts.
Jindal Saw dipped 8% to Rs 154, extending Wednesday’s 4% decline on BSE after the company reported 19% growth in net profit at Rs 963 million for the quarter ended December 2017 (Q3FY18). It had a profit of Rs 807 million in the same quarter last fiscal. Total income increased 49% to Rs 21,807 million from Rs 14,666 million in the corresponding quarter of previous year.
Dr. Reddy’s Laboratories Ltd posted a 38.5 percent slump in quarterly net profit as sales declined due to pricing pressure in the United States, its biggest market. Net profit was Rs 3.03 billion ($47.7 million) in the third quarter ended December 31, compared with Rs 4.92 billion a year earlier, the company said.
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The markets settled at their five-week lows as PSU banks and metal stocks tanked, while escalating tensions between the United States and North Korea continued to drive investors away from risk assets.
The Nifty PSU Bank index dipped nearly 5% after Oriental Bank, Union Bank of India and State Bank of India fell 5% each post disappointing earnings for the June quarter. Meanwhile, volatility index India VIX hit its highest in six months, suggesting market participants expect major volatility on the Nifty over the next thirty days.
Benchmark indices ended the session and the week on a negative note, with indices seeing big cuts in the day’s trade.
The Sensex closed down 317.74 points at 31213.59, while the Nifty ended lower by 109.45 points at 9710.80. The market breadth was negative as 1,003 shares advanced against a decline of 1,525 shares, while 135 shares were unchanged.
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The Sensex continued to struggle around the 28,000 mark to finish lower on Friday even as benchmark indices gained on the week. The weakness in Indian equities was in line with the subdued mood in Asian markets.
The Sensex closed at 28,051.86, down 156.76 points over its previous close, and the Nifty shed 27.80 points to close at 8,638.50.
For the week, the Sensex rose 0.9 percent, and the Nifty by 1.1 percent.
About 1221 shares have advanced, 1462 shares declined, and 209 shares are unchanged.
- Nifty 50 closed at 8638.5 with 0.3% loss today. 24 stocks advanced whereas 26 stocks declined and 1 stocks unchanged
- With 6.6% increase EICHERMOT was the top gainer in Nifty. ADANIPORTS, ZEEL increased 3.3% and 2.9% respectively
- ICICIBANK with a loss of 3.6% was the biggest loser in the Nifty. BHARTIARTL , BHEL lost 2.8% and 2.4% respectively
- FIIs bought net 84.6 crores worth of index futures and bought net 1392.9 crores worth of index options
- FIIs sold net 865.8 crores worth of stock futures and bought net 7.2 crores worth of stock options
- Daily volume in ICICIBANK surged 116%, highest growth among NSE stocks
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On Friday, July 1, 2016, Shriram City was the most active stock on Bombay Stock Exchange after multiple block deals. Mahanagar Gas, L&T, Sun Pharma, ITC, SBI and Axis Bank were other most active shares on exchanges.
The Sensex closes up 145.19 points or 0.5 percent at 27144.91, and the Nifty was up 40.60 points or 0.5 percent at 8328.35. About 1559 shares have advanced, 1157 shares declined, and 139 shares are unchanged. ONGC, BHEL, L&T, GAIL and Dr Reddy’s were top gainers while TCS, Coal India, Adani Ports and HDFC were losers.
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The selling pressure continued for second consecutive session on Friday, tracking weakness in global peers again and further profit booking in banks, auto, FMCG and metals stocks. The 30-share BSE Sensex fell 127.71 points to 26635.75 and the 50-share NSE Nifty slipped 33.55 points to 8170.05. The broader markets also caught in bears’ grip with the BSE Midcap and Smallcap indices falling 0.2-0.4 percent. Experts feel the consolidation may continue in near term and says any sharp fall will be buying opportunity as they are bullish on India.
Next week will be very important globally as Federal Reserve will be holding a two day meeting that will start on June 14. After the recent speech by Fed Chairperson Janet Yellen, experts believe that there won’t be a rate hike in June policy but the commentary will be key to watch out for.
Here are some picks from the week gone by.
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