Indian Equities declined in-line with Asian peers on Friday as rapidly spreading Delta variant of Covid-19 in the region fanned fears of a stalled growth. That apart, Washington’s call to add at least 10 Chinese entities to its economic blacklist over alleged human rights abuses and high-tech surveillance in Xinjiang pulled benchmarks in Japan, South Korea, and China down by up to 1 per cent.
Back home, the S&P BSE Sensex dropped 183 points, or 0.35 per cent, to settle at 52,386 levels while NSE’s 50-share benchmark declined 38 points, or 0.24 per cent, to close at 15,690 levels. Heavyweights, TCS, HDFC Bank, Reliance Industries, Axis Bank, Kotak Bank, and HDFC were the top laggards along with Wipro, Bajaj Auto, and M&M.
The broader markets, on the flipside, settled about half a per cent higher. Sectorally, the Nifty Private Bank index was the biggest drag, down 0.6 per cent. On the upside, the Nifty Realty index zoomed 2.4 per cent.
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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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Continuing their gaining streak for the seventh session in a row, the benchmark indices ended nearly a per cent higher on Friday after the monetary policy committee (MPC) of the RBI left the repo rate unchanged at 4 per cent but announced a slew of liquidity measures to support the economy.
Further, RBI Governor Shaktikanta Das said the stance of the policy would remain “accommodative,” for “as long as necessary – at least during the current financial year and into the next year – to revive growth. READ MORE
The S&P BSE Sensex today ended 327 points, or 0.81 per cent higher at 40,509 levels while the Nifty50 index settled above the 11,900-mark at 11,914, up 80 points, or 0.67 per cent. On a weekly basis, Sensex rallied 4.6 per cent and Nifty gained 4.3 per cent.
ICICI Bank and Axis Bank (both up 3.64 per cent) were the top Sensex gainers, followed by SBI, and HDFC Bank (both up 3.5 per cent).
The Nifty sectoral indices were mixed. While Nifty Bank gained nearly 3 per cent to 23,847 levels, Nifty Pharma ended as the biggest loser – down over 1.3 per cent.
In the broader market, the S&P BSE MidCap index slipped 0.42 per cent while the S&P BSE SmallCap ended 0.29 per cent lower at 14,966 levels.
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Erasing all their morning gains, the benchmark indices ended in the negative territory on Friday due to selling in the financial counters.
The S&P BSE Sensex ended 134 points, or 0.34 per cent lower at 38,846 with HDFC Bank (down over 2 per cent) being the biggest loser and Bharti Airtel (up around 4 per cent) the top gainer. HDFC Bank, HDFC, Infosys, and Hindustan Unilever (HUL) were among the major contributors to the index’s loss.
NSE’s Nifty settled at 11,505, up 11 points, or 0.10 per cent. India VIX fell nearly a per cent to 19.93 levels.
Meanwhile, pharma stocks gained big in the trade. The Nifty Pharma index jumped 5 per cent to 12,321 levels with all the 10 constituents advancing. Dr Reddy’s hit a record high of Rs 5,496.95 during the trade after the company said it has settled its patent litigation with Celgene for the latter’s cancer drug capsules. The stock settled at Rs 5,306, up 10 per cent on the NSE.
Nifty Bank index fell 2%; RBL, Bandhan, HDFC Bank down over 3%. Bandhan Bank, RBL Bank, HDFC Bank, and IDFC First Bank were down 3 per cent, while Federal Bank, State Bank of India (SBI), Punjab National Bank, and IndusInd Bank from the index were down in the range of 1 per cent to 2 per cent on the National Stock Exchange (NSE).
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After remaining range-bound for the most part of the session, benchmark indices turned highly volatile in the last hour of the trade on Friday with the indices briefly swinging into positive territory, before settling flat with negative bias. Except for metal stocks, selling was witnessed across the board.
The S&P BSE Sensex ended at 31,098, down 25 points or 0.08 per cent. Of 30 constituents, 20 declined and 10 advanced. Mahindra & Mahindra (down around 5 per cent) ended as the top loser on the index while telecom major Bharti Airtel (up nearly 3 per cent) was the biggest gainer.
ICICI Bank, Axis Bank, HDFC Bank, and Infosys contributed the most to the index’s loss.
On the NSE, Nifty ended at 9,137, down 6 points or 0.06 per cent.
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Source: https://stockarchitect.com/sector/Cars-And-Utility-Vehicles
Snapping three-day losing streak, buying sentiment was back at D-Street with benchmark indices edging a per cent higher on Friday lifted by gains in financial counters.
The S&P BSE Sensex gained 411.38 points, or 1 per cent, to close at 41,575.14 level, with Axis Bank (up 3 per cent), Power Grid (2.2 per cent), SBI (2 per cent), and Bharti Airtel (1.89 per cent) settling as the top gainers on the index. On the flipside, UltraTech Cement (0.22 per cent), and Titan (0.17 per cent) were the top drags.
On the NSE, the Nifty50 ended 124.15 points, or 1.02 per cent highet at 12,250.70-mark.
The Sensex and Nifty50 hit an intra-day high/low of 41,611.27/41,264.92 and 12,258.45/12,157.90, respectively.
On the sectoral front, all the key indices on the NSE settled the day in the positive territory. Nifty PSU Bank index was the best performing index, up 3 per cent, at close, followed by gains in Nifty Realty index (1.6 per cent), and Nifty Bank index (1.3 per cent).
The broader markets, too, followed headlines indices with the S&P BSE mid and small-cap indices gaining 0.86 per cent each.
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Equity market ended an action-packed day in the positive territory on Friday, though the benchmark indices trimmed most of their gains towards the end of the session. Shares of telecom companies – Vodafone Idea and Bharti Airtel surged amid hopes that the government would step in to help the ailing sector, a day after the two companies reported a combined loss of Rs 74,000 crore and warned their ability to operate and make profits would depend on relief from the country.
Besides, rally in PSU banks post Supreme Court ruling in Essar Steel case and reports that important trade issues between India and the US have been resolved and the countries may sign initial trade package boosted investor sentiment. That apart, US-China trade deal hopes, too, cheered market particpants.
The S&P BSE Sensex ended 70 points or 0.17 per cent higher at 40,356.69. During the day, the index hit a high and low of 40,650.06 and 40,308.09, respectively. Bharti Airtel (up around 8.50 per cent) emerged as the biggest gainer on the index while Hero MotoCorp (down nearly 2 per cent) was the top laggard.
SBI, Bharti Airtel, HDFC Bank, Reliance Industries (RIL), and Sun Pharma contributed the most to the index’s gains while ITC, TCS and Maruti were the top drags. In the broader market, the S&P BSE MidCap index ended at 14,773 levels, up 93 points or 0.63 per cent while the S&P BSE SmallCap index slipped 17 points or 0.13 per cent to end at 13,326.40.
On the NSE, the Nifty50 index added 23 points or 0.20 per cent to end at 11,895.30 levels.
Sectorally, PSU bank stocks advanced the most. Pharma counters came second on the list. Nifty PSU Bank index climbed 3.50 per cent to 2,462.75 levels. On the other hand, auto stocks bled the most with the Nifty Auto index falling 0.54 per cent to 8,146.65 levels.
Volatility guage India VIX declined over 4 per cent to 14.96 levels.
On a weekly basis, Sensex added 0.08 per cent while Nifty lost 0.10 per cent.
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Indices settled higher on Friday ahead of finance minister Nirmala Sitharaman’s media address, scheduled later in the day, wherein measures to revive the economy, clarity on the possible rollback of super-rich tax on FPIs, and implementation of direct tax code (DTC) are expected.
That apart, investors were also eyeing Federal Reserve chair Jerome Powell’s speech at Jackson Hole, Wyoming for clarification on whether the US central bank remains on course to deliver another interest rate cut in next month.
The benchmark S&P BSE Sensex settled 228 points, or 0.63 per cent, higher at 36,701 levels lifted by gains in metals, and public sector banks’ stocks. Vedanta, YES Bank, ONGC, and M&M were the top gainers at the 30-share index, while IndusInd Bank, ITC, ICICI Bank, and Power Grid ended as top laggards. The broader Nifty50, too, closed at 10,829-mark, up 88 points or 0.82 per cent.
The Sensex and Nifty50 settled nearly 600 and 192 points higher, respectively from the day’s low.
For the week, both Sensex and Nifty50 settled in the negative territory for second week in a row, down 2 per cent each. Further, Nifty Bank index slipped 4.5 per cent this week, registering the biggest weekly fall in 11 months, while Nifty mid-cap index settled 3 per cent lower, its biggest monthly fall.
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Markets saw the third-worst fall of 2019 on Friday as benchmark indices S&P BSE Sensex and Nifty50, both, fell to two-month low. The indices touched intra-day lows of 38,271 level at Sensex and 11,399 mark at Nifty. ‘Super-rich tax’ concerns on FPI, trade war tenions and weak corporate earnings contributed to the fall.
The Sensex tanked 560 points, or 1.44 per cent, to close at 38,337 levels with 26 of the 30 stocks listed at the index ending in the red. IndusInd Bank, Bajaj Finance, M&M, and YES Bank were the top laggards while only NTPC, TCS, PowerGrid and ONGC ended in the green. The Nifty50, too, lost 178 points, or 1.53 per cent, to settle at 11,419 mark. Of the 50 stocks listed at the index, only 7 stocks advanced while the remaining 43 declined.
In the broader market, S&P BSE MidCap closed 285 points, or 2 per cent, lower at 14,078 level while the S&P BSE SmallCap slipped 248 points, or 1.83 per cent, at 13,310 levels.
Sectorally, all the indices ended in the red. Nifty Auto index, too, tanked to two-month low to end 3.31 per cent lower. This was followed by losses in Nifty Private Bank index and Nifty Pharma index, down 2.45 per cent and 2.23 per cent respectively.
The Nifty Auto index hitting a three-year low on Friday. Thus far in the calendar year 2019, auto index slipped 21 per cent, against 5 per cent rise in the benchmark index. M&M, Motherson Sumi Systems, TVS Motor Company, Exide Industries, Escorts, MSIL, Eicher Motors, Hero MotoCorp, Bosch and Ashok Leyland have seen market value erosion of more than 22 per cent during the period.
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