Domestic markets ended a tumultuous week on a flat note amid subdued trade in Asia and bleak UK economic data. The Office for National Statistics said on Friday that the UK’s gross domestic product shrank 9.9 per cent in 2020, its biggest decline on record.
Indices turned sharply lower in the fag-end of the session but recovered marginally to end mildly higher. The benchmark S&P BSE Sensex tumbled 543 points from the day’s high to hit an intra-day low of 51,261. At close, the index was at 51,544 levels, up 13 points or 0.02 per cent. The NSE’s Nifty50, meanwhile, ended at 15,163 level, down 10 points or 0.07 per cent.
ICICI Bank, Infosys, HDFC, and Axis Bank were the top gainers on the Sensex index while Adani Ports, ICICI Bank, Infosys, and Wipro were the top performing stocks on the Nifty. ITC, Sun Pharma, ONGC, and Bharti Airtel were the top drags on both the indices.
Broader markets, too, ended mixed today. The S&P BSE MidCap index was up 0.06 per cent at close while the S&P BSE SmallCap index settled 0.02 per cent lower.
On the sectoral front, the Nifty Metal index skid 1.7 per cent, followed by the Nifty FMCG index declined 1.5 per cent. At the other end of the spectrum, Nifty Private Bank and the Nifty Bank indices gained 1 per cent each.
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The domestic equity market ended in the negative territory on Friday after the Reserve Bank of India (RBI) decided to cut the policy rate by 40 basis points from 4.4 per cent to 4 per cent to trim the impact of coronavirus on the economy. That apart, the central bank also extended the moratorium on loan repayments by three more months, resulting in sell-off in financial stocks.
Nifty Bank today tumbled nearly over 2.5 per cent to 17,279 levels while Nifty Private Bank declined around 3 per cent to 9,421.55 points, with 8 out of 10 constituents ending in the red.
The benchmark S&P BSE Sensex shed 260 points or 0.84 per cent to settle at 30,672.59. HDFC, HDFC Bank, ICICI Bank, and Axis Bank contributed the most to the Sensex’s fall. On the other hand, IT majors, Infosys and TCS, supported the index.
NSE’s Nifty ended at 9,039, down 67 points or 0.74 per cent.
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Benchmark indices once again failed to hold on to the day’s high levels on Friday and pared most of its gains at the end of the session, amid selling in financial, auto and metal stocks. However, oil-to-telecom behemoth Reliance Industries (RIL) and FMCG giant Hindustan Unilever (HUL) helped the indices to settle in the positive territory.
The S&P BSE Sensex ended at 31,642.70, up 199 points or 0.63 percent, with HUL (up nearly 5 percent) being the top gainer and NTPC (down nearly 4 percent) the biggest loser.
On the NSE, the benchmark Nifty ended at 9,251.50, up 52 points or 0.57 percent. Volatility index, India VIX, declined nearly 3.5 percent to 38.53 levels.
In the broader market, the S&P BSE MidCap index ended flat at 11,423.81 while the S&P BSE SmallCap index slipped 0.45 percent to 10,638.70 levels.
Shares of Cyient were locked in a 10% lower circuit on lower-than-expected Q4 results. A combined 2.65 million equity shares had changed hands on the counter and there were pending sell orders for around 82,000 shares on the NSE and BSE. The stock of the IT consulting and software firm was trading close to its 52-week low of Rs 200 touched on April 28, 2020.
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After a one-day blip, benchmark indices once again slipped into the negative territory on Thursday, pulled down by heavyweights such as Reliance Industries (RIL), HDFC Bank, TCS, HUL and Asian Paints. Further, investors awaited more clarity on US President Donald Trump’s statement ahead of his visit to India that the two countries were working on a major trade deal.
The S&P BSE Sensex lost 153 points or 0.37 per cent to settle at 41,170, with Asian Paints (down over 2 per cent) being the top loser and IndusInd Bank (up over 3.5 per cent) the biggest gainer.
NSE’s Nifty50 index ended the session at 12,081, down 45 points or 0.37 per cent.
Among individual stocks, IRCTC gained over 5 per cent to end at 1,928 . Adani Gas rallied 13 per cent to Rs 185.50 apiece on the BSE after media reports said Petroleum and Natural Gas Regulatory Board (PNGRB) disposed November 29 showcause notice to the company and the regulator has approved TOTAL’s 37 per cent stake buy in the company.
In the broader market, the S&P BSE Midcap index added 62.5 points or 0.4 per cent to 15,694 while the S&P BSE SmallCap index rallied 0.5 per cent to settle at 14,747.
On the sectoral front, IT stocks bled the most, followed by FMCG and media counters. On the other hand, PSU bank stocks advanced the most. The Nifty PSU Bank index climbed 1 per cent to 2,169 levels.
Markets remained shut on Friday on account of Mahashivratri.
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After reclaiming the crucial 40,000 and 12,000 levels, respectively in the early deals, the benchmark indices S&P BSE Sensex and Nifty50 index turned volatile in the afternoon session.
The S&P BSE Sensex ended at 39,714, down 118 points while the broader Nifty50 index settled at 11,923, down 23 points.
The S&P BSE Sensex was trading 132 points or 0.33 per cent lower at 39,700 levels while the NSE’s Nifty50 index was quoting 33 points or 0.28 per cent lower at 11,913 levels. Nifty Bank saw a swing of 1,200 points during the session. Volatility index India VIX was trading over 4 per cent higher at 16.24.
Sectorally, barring IT and FMCG counters, all the indices were trading in the red with the Nifty PSU Bank index taking the hardest knock, followed by media and realty stocks. The Nifty PSU Bank index was trading nearly 2 per cent lower at 3,232.50 levels.
In the broader market, the S&P BSE MidCap index was trading flat at 15,070 levels while the S&P BSE SmallCap index was ruling at 14,876, down 88 points or 0.59 per cent.
Putting rest to all speculation, the President of India on Friday released the portfolio details of new Cabinet, a day after Narendra Modi took oath as the country’s 16th Prime Minister. There were expectations that Amit Shah, a seasoned stock broker and a key architect of NDA’s victory for the second consecutive time will be handed over reigns of the Finance Ministry. This is after Arun Jaitley expressed his desire to stay away from any role in the new government citing health reasons. However, Nirmala Sitharaman has been appointed the new Finance Minister, while Amit Shah will handle the Home Ministry. Smriti Irani, who was expected to be awarded handsomely for defeating Rahul Gandhi in Amethi, has been made the Minister of Women and Child Development and Minister of Textiles.
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The benchmark indices settled marginally lower on Friday weighed by IT bellwether Tata Consultancy Services (TCS) and select banking and automobile stocks.
The S&P BSE Sensex ended at 36,010, down 97 points or 0.27 per cent, while the broader Nifty50 index ended at 10,795, down 27 points or 0.25 per cent. On a weekly basis, the S&P BSE Sensex rose 0.88 per cent, while Nifty50 rose 0.63 per cent.
In the broader market, the S&P BSE MidCap index ended at 15,177, down 19 points or 0.13 per cent, while S&P BSE SmallCap index slipped 28 points or 0.19 per cent to 14,600.
Shares of Eveready Industries India (EIIL) jumped 13 per cent to settle at Rs 205 per share on the BSE on reports that promoter BM Khaitan is likely to sell the flagship company, a leader in dry cell batteries and flashlights.
IT bellwether Infosys gained 0.58 per cent to settle at Rs 684 on the BSE ahead of the board meeting today to consider the financial results for the third quarter of the financial year 2018-19 (FY19). Its peer Tata Consultancy Services (TCS) declined 2.45 per cent to Rs 1,842 even as it earned its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19).
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The benchmark indices ended higher on Friday aided by strong gains in automobiles and metal stocks after the rupee firmed against US dollar. The S&P BSE Sensex ended at 38,390, up 147 points while the broader Nifty50 index settled at 11,589, up 52 points.
Among the sectoral indices, the Nifty Auto index settled 2.2 per cent higher led by a rise in the share prices of Hero MotoCorp, Bajaj Auto, Mahindra and Mahindra, and Tata Motors. Nifty Metal index, too, rose 1.9 per cent led by MOIL and Jindal Steel & Power.
The rupee was trading higher by 24 paise to 71.75 against the US currency in late morning deals on Friday due to sustained bouts of dollar selling from banks and exporters. Earlier, the rupee resumed slightly higher at 71.95 against yesterday’s closing level of 71.99 a dollar at the interbank foreign exchange market here.
Shares of YES Bank hit an over four-month low of Rs 322 per share, down 5% on the BSE on the back of heavy volumes. The stock was the largest loser among the S&P BSE Sensex and Nifty 50 index.
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The benchmark indices settled over 1 per cent higher on Friday after falling for two consecutive days, led by a rise in the financial stocks and a ‘normal’ monsoon forecast during August-September by the India Meteorological Department (IMD). They also rose taking cues from their Asian peers which inched higher following a tech-led rise on Wall Street.
The S&P BSE Sensex ended at 37,556, up 391 points while the broader Nifty50 index settled at 11,361, up 116 points.
Among sectoral indices, the Nifty Bank index rose 1.24 per cent led by a rise in the shares of Axis Bank, YES Bank and Punjab National Bank. The Nifty Fin Service index, too, settled 1.54 per cent higher led by Indiabulls Housing Finance and Edelweiss Financial Services.
Shares of VIP Industries have moved higher by 10% to Rs 538 per share, also their record high on the BSE, after the company reported a strong 55% year on year (yoy) jump in its consolidated net profit at Rs 634 million in June quarter (Q1FY19). The company, which is engaged in manufacturing and marketing of luggage and bags, had a profit of Rs 410 million in the same quarter year ago.
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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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