Equity markets roiled in global sell-off as contagion effect of overnight selling in the US markets, especially bank stocks, dented sentiment. The S&P BSE Sensex crashed 671 points, or 1.12 per cent, to close at 59,135. The Nifty50, meanwhile, gave up the 17,450-mark to end at 17,413, falling 177 points or 1 per cent. These indices hit intra-day lows of 58,885, and 17,324, respectively.
Financial stocks were the worst hit today, amid near broad-based selling, with HDFC Bank (down 2.6 per cent), HDFC, SBI, IndusInd Bank, Bajaj Finserv, Axis Bank, ICICI Bank, Kotak Bank, and Bajaj Finance featuring among the top 15 laggards on the Sensex. Index-wise, the Nifty PSU Bank index declined 2.2 per cent, while the Nifty Bank and Private Bank indices fell 1.8 per cent each.
Other large-cap laggards were RIL, L&T, M&M, and Asian Paints, down up to 1.5 per cent.
In the broader markets, the BSE MidCap and SmallCap indices dropped less than 1 per cent each.
Continue Reading →
Selling pressure intensified in late noon deals on Friday after reports emerged of fresh Russian onslaught on Ukrainian soil. According to media reports, at least three cities in Ukraine faced major missile attack on energy facilities and infrastructure. Meanwhile, recession fears in the US and Euro region, coupled with growth slowdown concerns back home, weighed on the sentiment.
Against this backdrop, the S&P BSE Sensex dropped 461 points, or 0.75 per cent, to settle at 61,338. The Nifty50, too, slumped 146 points or 0.79 per cent to end at 18,269.
Dr Reddy’s Labs, M&M, Asian Paints, SBI, TCS, Titan, Power Grid, and Ultratech Cement fell the most among the 27 losers within the Sensex pack. Adani Ports, BPCL, Bajaj Auto, and Hero MotoCorp were the additional laggards on the Nifty.
Tata Motors, HDFC Bank, HUL, and Tata Steel were the only large-cap gainers on the benchmark indices.
Meanwhile, in the broader markets, the BSE MidCap index declined 1.4 per cent, while the BSE SmallCap index dipped 0.9 per cent.
Among sectors, the Nifty PSU Bank index sunk the most, down nearly 3 per cent. This was followd by losses in the Nifty Realty, Pharma, and Media indices, down over 1 per cent each.
Continue Reading →
The key benchmark indices recouped losses, led by fresh buying in select IT and financial shares, to end Friday’s trading session on a flat note. Auto stocks skidded for the second day in a row.
The S&P BSE Sensex, which, touched a low of 61,337, eventually ended at 61,663, down 88 points. In the process, the BSE benchmark also finished the week with a marginal loss of 132 points.
The NSE Nifty 50 settled 36 points lower at 18,308 on Friday.
Among the Sensex 30 stocks, Mahindra & Mahindra slipped 2.4 per cent. NTPC, Bajaj Finance, Maruti, IndusInd Bank and Bharti Airtel were the other notable losers. On the positive side, HCL Technologies and Asian Paints finished with gains of around a per cent each.
The broader indices – BSE Midcap and Smallcap were down nearly 0.5 per cent each. The breadth too was fairly negative, with 2,048 declining stocks against 1,455 advancing shares on the BSE.
The BSE Auto index slipped 1.2 per cent and was the major sectoral loser. The Capital Goods, Oil & Gas and Energy indices were the other prominent losers.
In the broader market, shares of TCPL Packaging hit a record high at Rs 1,696, and ended with a solid gain of 15.4 per cent on healthy business outlook. The stock of the packaging company surpassed its previous high of Rs 1,540.45, touched on September 5, 2022.
Continue Reading →
The key benchmark indices exhibited high volatility in trades on Thursday. The key indices witnessed wilted under severe selling pressure in the first-half of the day, before staging a partially mid-way, only to lose ground once again.
The BSE benchmark index, the Sensex, touched a high of 60,178 in early deals, and soon slipped into the negative zone. The index dropped to a low of 59,377, and eventually ended lower for the third straight trading session, down 372 points at 59,636.
In the process, the Sensex shed 1,082 points in the last three trading sessions, and was down 1.7 per cent (1,051 points) for the week. The markets will be shut for trading on Friday on account of Guru Nanak Jayanti.
The NSE Nifty declined 134 points to 17,765, and was down 1.9 per cent (338 points) for the week.
The broader indices ended with deeper cuts, the BSE Midcap and Smallcap indices were down 1.5 per cent each. Among sectors, the Metal index shed 2.8 per cent, and the Auto index tumbled 2.3 per cent. All sectoral indices ended in the negative zone.
Continue Reading →
Images on investors’ trading screens turned around 180 degrees by the end of the session on Friday as bulls fought back to lift indices over a per cent higher. A drop in the US Treasury yield and a GDP growth upgrade by Moody’s for India helped the markets snap 5-day losing streak.
Tracking sluggishness in the global markets, the domestic equity markets opened in a sea of red with the frontline indices dropping over a per cent. The dip was, however, quickly bought-into, pushing markets in the positive territory in less than 120 minutes into the trade.
Mood in the global markets changed after the US Treasury yields slipped to 1.5 per cent from Thursday’s high of 1.74 pe cent. Back home, Moody’s Analytics said India’s economy is likely to grow by 12 per cent in CY2021 following a 7.1 per cent contraction last year as near-term prospects have turned more favourable.
Consequently, bulls reigned on Dalal Street for the first time in six days riding on the back of FMCG and metal counters. Both, the Nifty FMCG and Metal indices, ended over 2 per cent higher each, followed by gains in the Nifty Pharma and PSU Bank indices, up over 1 per cent. Other indices settled with less than a per cent gains, while the Nifty Realty index ended in the red, down 0.7 per cent.
Among the key headline indices, the 50-share barometer on the NSE closed above the 14,700-mark at 14,744 levels, up 186 points or 1.28 per cent. The 30-share benchmark Sensex, on the other hand, advanced 642 points, or 1.3 per cent, to end at 49,858 levels. In the intra-day deals, the Sensex and the Nifty touched 50,003 and 14,788, respectively jumping 1,416 and 350 points from day’s low.
Individually, HUL, Power Grid, JSW Steel, Tata Steel, NTPC, UPL, Reliance Industries, Divis Labs, Gail, and UltraTech Cement were the top gainers on the Nifty, while L&T, Coal India, Tech M, Bajaj Auto, Titan, and ONGC ended as the top laggards.
In the broader markets, the S&P BSE MidCap and SmallCap indices closed 1.35 per cent and 0.4 per cent higher, respectively.
Continue Reading →
Firm global cues and buying in financial and pharma counters helped domestic benchmark indices settle in the positive territory for the third consecutive session on Friday.
The S&P BSE Sensex gained 269 points or 0.75 per cent to close at 36,077 while the NSE’s Nifty50 index ended at 10,860, up 80 points or 0.74 per cent. Out of 50 constituents on the index, 38 ended in the green and rest 12 in the red.
Volatility benchmark India VIX declined over 6 per cent to 15.03, indicating lower volatility in the market.
As many as 8 stocks hit 52-week high on NSE including names such as Bata India and SPL Industries. On the contrary, 48 securities hit their one-year low.
On a weekly basis, both the headline indices rose around 1 per cent.
Continue Reading →
