The Indian stock market ended 1.5 per cent higher on Friday, led by buying in Reliance Industries (RIL), HDFC Bank, ICICI Bank, and HUL.
The S&P BSE Sensex settled 548 points or 1.5 per cent higher at 37,020 levels. Of 30 constituents, 25 advanced and the rest five declined. ONGC (up 5.5 per cent) ended as the biggest gainer on the index while TCS (down around 1.5 per cent) was the biggest loser. NSE’s Nifty advanced 162 points or 1.5 per cent to end at 10,902. Meanwhile, the volatility index, India VIX, slipped 5.4 per cent to 23.99 levels.
On a weekly basis, Sensex gained 1.16 per cent while Nifty added 1.24 per cent.
Sectorally, barring Nifty IT index, all the other indices ended in the positive territory. Nifty PSU Bank index rose 1.83 per cent to 1,431.60 levels while the Nifty Bank ended 1.7 per cent higher at 21,967 points. Nifty IT, on the other hand, slipped 0.62 per cent to 16,821 levels.
In the broader market, the S&P BSE MidCap gained 1.55 per cent while the S&P BSE SmallCap rose 1.11 per cent.
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The Indian stock market ended Friday’s volatile session in the negative territory amid weak global cues. The relentless rise in Covid-19 cases both in India as well as on the global front weighed on investor sentiment. The S&P BSE Sensex slipped 143 points or 0.39 per cent to settle at 36,594 levels while NSE’s Nifty ended at 10,768, down 45 points or 0.42 per cent.
HDFC, HDFC Bank, ICICI Bank, and Axis Bank contributed the most to the Sensex’s fall. Axis Bank ended as the top loser on the index while Reliance Industries (RIL) ended as the biggest gainer – up around 3 per cent. RIL hit a fresh lifetime high of Rs 1,884.40 during the day before settling at Rs 1,878.50 on the BSE.
On a weekly basis, Sensex gained 1.6 per cent while Nifty rose 1.5 per cent.
The sectoral trends on the NSE remained mixed. While financials, metals and auto stocks declined in the trade, pharma, FMCG, and realty counters rallied. The Nifty Pharma gained 0.85 per cent to 10,072.25 levels. On the other hand, Nifty Bank slipped over 2 per cent to 22,398.45 points.
In the broader market, the S&P BSE MidCap index fell 0.72 per cent while the S&P BSE SmallCap index declined 0.35 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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Extending their rally into the second straight day, the benchmark indices ended Friday’s session with around 1.5 per cent gains, led by Reliance Industries (RIL) as the company announced it has become net debt-free, much before its original schedule of March 31, 2021. The stock rallied 6.5 per cent to end at Rs 1,764. In the process, the company scaled the market capitalisation of Rs 11 trillion.
The S&P BSE Sensex today gained 524 points or 1.53 per cent to settle at 34,732. Of 30 stocks on the index, 18 ended in the green and rest 12 in the red. Besides RIL, ICICI Bank, HDFC Bank, Bajaj Finance, and Bharti Airtel were the major contributors to the index’s gains.
NSE’s Nifty50 ended at 10,244, up 153 points or 1.5 per cent with 33 constituents advancing, 16 declining and 1 remaining unchanged. Volatility index, India VIX, dipped over 5 per cent to 29.78 levels.
On a weekly basis, Sensex gained nearly 3 per cent while Nifty added 2.7 per cent.
Sectorally, all the indices except Nifty IT and Nifty Metal ended in the green. Nifty Realty index zoomed over 6 per cent to 29.78 levels. On the other hand, Nifty IT slipped 0.35 per cent to 14,500.
In the broader market, the S&P BSE MidCap index gained 1.37 per cent to 12,804 while the S&P BSE SmallCap index rallied around 1.4 per cent to 12,277.
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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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Equity market was highly volatile in the afternoon session on Friday with the benchmark indices oscillating berween the positive and negative territories after Moody’s Investors Services downgraded India’s sovereign outlook from ‘stable’ to ‘negative’, saying concerns mount the economic slowdown will be prolonged and debt will rise.
After hitting a fresh record high of 40741.69 levels during the session, the frontline S&P BSE Sensex was trading around 100 points lower. Private Banks were trading higher, with ICICI Bank, IndusInd Bank and YES Bank up in the range of 3-7 per cent. On the downside, Sun Pharma was trading nearly 3 per cent lower.
On the NSE, the Nifty50 slipped below the crucial 12,000-mark to hover around 11,950 levels. .
Sectorally, Nifty Realty index was the top gainer, up 2.3 per cent, followed by gains in Nifty Private Bank (up 0.74 per cent), and Nifty Auto (up 0.58 per cent) indices. On the flipside, Nifty Pharma and FMCG indices, each, were trading over a per cent lower.
The broader markets, however, were trading in the green. The S&P BSE mid-cap index was up 0.06 per cent, while the S&P BSE small-cap index was up 0.12 per cent.
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