The domestic equity market ended Friday’s volatile session on a positive note amid healthy buying in financial, oil and gas, metal, and FMCG stocks.
The benchmark S&P BSE Sensex ended at 46,099, up 139 points, or 0.3 per cent while NSE’s Nifty ended at 13,514, up 36 points, or 0.26 per cent.
During the day, Sensex hit a record high of 46,309.63 while Nifty scaled an all-time high of 13,579.35.
Shares of Hinduja Global Solutions soared 17 per cent to Rs 1,148 on the BSE in intra-day trade on Thursday after the company’s subsidiary, HGS AxisPoint Health, partnered with Parkland Community Health Plan (PCHP) to provide disease management services to approximately 195,000 Medicaid beneficiaries in a seven-county area in North Texas.
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Buying in financial counters such as HDFC Bank, Bajaj Finance, and Bajaj Finserv helped benchmark indices settle over 0.6 per cent higher on Friday.
The S&P BSE Sensex ended 282 points, or 0.65 per cent higher at 43,882 levels while NSE’s Nifty ended at 12,859, down 87 points, or 0.68 per cent.
Bajaj Finserv ended as the biggest gainer on Sensex – up over 9 per cent to Rs 8,536.50 while Reliance Industries (down nearly 4 per cent) was the top loser. Of 30 constituents, 23 advanced and 7 declined.
Wockhdart was locked in upper circuit of 20 per cent at Rs 393 on the BSE. The stock of pharmaceutical company was trading close to its 52-week high of Rs 412 touched in February 2020. The trading volume jumped over three-fold with a combined 6.3 million shares changing hands. There were pending buy orders for 250,000 shares on the BSE and NSE, exchange data show.
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The domestic stock market ended flat with a positive bias on Friday. The S&P BSE Sensex settled 14 points, or 0.04 per cent higher at 38,854.5 levels while NSE’s Nifty ended at 11,464, up 15 points, or 0.13 per cent. India VIX dropped nearly 3 per cent to 20.68 levels.
SBI (up 2 per cent) ended as the top gainer on the S&P BSE Sensex while IndusInd Bank (down nearly 2 per cent) was the biggest loser. Of 30 constituents, 10 advanced while 20 declined.
On a weekly basis, Sensex gained 1.29 per cent while Nifty added 1.15 per cent.
The broader market, however, fared better than the frontline indices. The S&P BSE MidCap index settled at 14,660 levels, up 0.58 per cent and the S&P BSE SmallCap index ended 0.52 per cent higher at 14,558.
Sectorally, IT stocks rallied the most. The Nifty IT index ended 1.29 per cent higher at 18,633 levels. Nifty PSU Bank index gained 0.79 per cent while Nifty FMCG index settled 0.63 per cent higher at 30,972 levels.
Shares of Wipro and Tata Elxsi hit their respective 52-week highs on the BSE on Friday on the expectation of strong earnings growth in the current quarter (July-September) of the financial year 2020-21 (FY21). READ MORE
Shares of Max Healthcare Institute (MHIL) hit a high of Rs 133.80 on the BSE during the day on the back of heavy block deals. The stock settled at Rs 131.30, up around 17.5 per cent.
Strides Pharma ended nearly 13 per cent higher at Rs 685.90. In the past two months, the stock has rallied over 64 per cent after the company reported strong performance across all business segments in the April-June 2020 quarter (Q1FY21) despite significant disruptions and ambiguity in the business environment due to Covid 19.
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The bulls continued to dominate markets on Friday, thanks to a healthy buying in financial counters. The S&P BSE Sensex gained for the sixth consecutive session to settle at 39,467 levels, up 354 points, or 0.9 per cent.
NSE’s Nifty ended at 11,648, up 88 points or 0.76 per cent. Volatility index, India VIX, continued to decline and ended at 18.24 levels, down nearly 3.5 per cent.
Sun Pharma surges 4%, hits 52-week high; stock rallies 76% from March-low. For the quarter ended June 2020, Sun Pharma had reported a surprise loss due to one-time charges. The company’s US business posted a 33.5 per cent decline during the quarter, while India sales were up 3.2 per cent on a year-on-year (YoY) basis. Consolidated sales from operations at Rs 7,467 crore, a decline of about 9.6 per cent over the same quarter last year.
Shares of Edelweiss Financial Services rose as much as 3.16 per cent to Rs 86.50 on the BSE on Friday after Hong-Kong based private equity group PAG picked up 51 per cent stake in Edelweiss Wealth Management (EWM) for Rs 2,200 crore. The Edelweiss Group runs corporate and retail credit, wealth management, asset management and life and general insurance businesses.
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Equity market ended Friday’s highly volatile session on a subdued note even as the Reserve Bank of India (RBI), in an emergency move, slashed the repo rate by a huge 75 basis points (bps) to arrest the potential downturn in the economy due to coronavirus (Covid-19) pandemic. In addition, the RBI imposed a moratorium on principal and interest payments for three months and told banks and non-banking finance companies that that non-payment won’t be considered as non-performing assets (NPA).
The S&P BSE Sensex closed at 29,816, down 131 points or 0.44 per cent, with Axis Bank (up 5 per cent) being the top gainer and Bajaj Finance (down 9 per cent) the worst performer. Besides Bajaj Finance, stocks that contributed the most to the Sensex’s fall were Bharti Airtel (down 6 per cent), HUL (down 3 per cent), and HDFC Bank (down 1 per cent).
NSE’s frontline index Nifty50 ended at 8,660, up 19 points or 0.22 per cent.
On a weekly basis, Sensex slipped 0.33 per cent while Nifty fell 0.97 per cent.
On the sectoral front, auto stocks slipped the most, thus snapping their three-day gaining streak. The Nifty Auto index ended around 2.5 per cent lower at 4,939 levels. On the other hand, private banks gained the most with the Nifty Private Bank index ending 1.72 per cent higher at 10,738 levels.
Volatility index India VIX eased 0.77 per cent to 70.97 levels.
In the broader market, the S&P BSE MidCap index ended at 10,538, up 0.29 per cent while the S&P BSE SmallCap index ended 0.28 per cent higher at 9,497 levels.
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Selling in banks, realty and metal counters dragged the domestic equity market lower on Thursday. The headline index, S&P BSE Sensex lost 135 points or 0.34 per cent to settle at 39,140, with YES Bank being the biggest loser and Reliance Industries (RIL) the top gainer.
Out of 30 components, 22 scrips ended in the red and rest eight in the green.
Market breadth remained in favour of declines as out of 2,727 securities traded on BSE, 1,671 declined and 888 advanced while 168 scrips remained unchanged.
The broader Nifty50 index of the National Stock Exchange (NSE) lost 34 points or 0.29 per cent to end at 11,753.
On a weekly basis, both the indices gained around 1 per cent.
In the broader market, the S&P BSE Midcap index slipped 138 points or nearly 1 0.89 per cent to close at 15,382.57 while the S&P BSE Smallcap index ended at 15,021, down around 150 points or 1 per cent.
All the sectoral indices ended in the negative territory with realty stocks taking the hardest knock, followed by media and PSU banks.
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Benchmark indices ended marginally lower on Friday led by a fall in ICICI Bank, State Bank of India (SBI), HDFC, RIL and Axis Bank.
The S&P BSE Sensex ended at 36,671, down 54 points while the broader Nifty50 index settled at 11,035, down 23 points.
Among sectoral indices, Nifty Metal index ended 1.5 per cent lower with Jindal Steel & Power and MOIL among the top losers. The Nifty IT index, too, settled 1.1 per cent lower, dragged by Wipro and Infibeam Avenues
In the broader market, the S&P BSE MidCap index ended 12 points, or 0.08 per cent lower at 14,804, while the S&P BSE SmallCap index settled at 14,529, down 11 points, or 0.08 per cent.
Shares of Wipro fell 5 per cent to Rs 256 in intra-day trade on the BSE in after huge block deals were executed on the counter. Till 11:22 am, a combined 57.86 million equity shares, representing 1.3 per cent equity, of Wipro had changed hands on the National Stock Exchange (NSE) and BSE. The stock ended at Rs 256.50, down 4.6 per cent.
Shares of Allahabad Bank hit a 52-week high of Rs 58.20, up 6.5 per cent on the BSE in the intra-day trade, extending its past three weeks’ rally after the government announced capital infusion of Rs 6,896 crore in the bank.The stock settled 4.39 per cent higher at Rs 57.05.
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Markets ended lower on Friday after the Reserve Bank of India (RBI) sprung a surprise and kept the repo rate unchanged at 6.50 per cent. Most experts had expected the central bank to hike rates by 25 bps.
The S&P BSE Sensex lost 792 points, or 2.25 per cent, to settle at 34,377 while the broader NSE’s Nifty50 index dropped 283 points, or 2.7 per cent, to close at 10,316. Among specific stocks, shares of oil marketing companies such as HPCL, BPCL and IOCL hit 52-week lows after the government announced that it will cut excise duties on petrol and diesel prices and OMCs will absorb Re 1 per litre.
Heavy losses were also visible in banking stocks with the Nifty Bank index slipping 1.5 per cent. YES Bank, State Bank of India (SBI), Bank of Baroda (BoB), IDFC Bank and ICICI Bank lost up to 5.1 per cent.
Earlier, the monetary policy committee (MPC) of the Reserve Bank on Friday kept the repo rate unchanged at 6.50 per cent in its fourth bi-monthly monetary policy review of 2018-19. The central bank changed the policy stance to ‘Calibrated tightening’ from ‘Neutral’. Calibrated tightening means rate will be maintained or hiked in this cycle.
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The benchmark indices on Friday settled marginally lower after market heavyweight Tata Consultancy Services slumped on worries about its future following key management changes.
The S&P BSE Sensex ended at 27,238, down 9 points, while the broader Nifty50 closed at 8,400, down 7 points.
In the broader market, the BSE Midcap (down 0.03%) and BSE Smallcap indices (up 0.03%) closed flat.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,493 shares declined and 1,236 shares rose. A total of 177 shares were unchanged.
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