Indian equities rose in tandem with global peers after the release of US inflation data in October raised investor hopes that inflation has peaked. Barring minor downtick in the Nifty Auto, FMCG, and PSU Bank indices, all other sectoral indices advanced on the bourses. The Nifty IT index led from the front with around 4 per cent surge.
Meanwhile, HDFC twins, information technology (IT), and other heavyweighs including Reliance Industries, Tata Steel, L&T, and Bajaj twins propelled the S&P BSE Sensex to a fresh 52-week high of 61,841, while the Nifty50 touched 18,362.
The indices, eventually, ended at 61,795, and 18,350 levels, up 1,181 points and 322 points, respectively.
In the broader markets, the BSE MidCap, and the BSE SmallCap indices added 0.15 per cent, and 0.33 per cent, respectively, as against the frontline indices’ 2-per cent gain.
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Benchmark indices snapped their three-day losing run and settled 0.8 per cent higher on Friday. Investors heaved a sigh of relief as the Reserve Bank of India decided to keep the interest rates unchanged and maintained ‘accommodative’ stance despite liquidity unwinding by global central banks. The RBI also announced revised inflation and GDP growth forecasts in-line with market expectations. Yields on 10-year bonds, however, hit multi-year high of 7.075, inching up 2.3 per cent.
Against this backdrop, the S&P BSE Sensex climbed 571 points from the day’s low to end at 59,447, up 412 points against Thursday’s close. The NSE Nifty, too, advanced 145 points to settle at 17,784 in a broad-based rally. Both the indices had hit intra-day highs of 59,654 and 17,843, respectively.
The broader BSE MidCap and SmallCap indices rose in tandem with the frontline indices and closed 0.9 per cent higher each.
Among individual stocks, ITC ended as the top gainer as it advanced 4.7 per cent on the Sensex index. The stock of the cigarettes to fast-moving consumer goods (FMCG) major has rallied 24 per cent in the past six week.
That apart, Dr Reddy’s Labs, M&M, Tata Steel, Titan, Reliance Industries, Asian Paints, Nestle India, and IndusInd Bank were the other gainers, rising upwards of 1.5 per cent each.
On the downside, only Tech M, NTPC, Maruti Suzuki, Sun Pharma, and HCL Tech were the laggards, down up to 1.2 per cent.
Sectorally, the Nifty Metal index was the biggest gainer, rising 2 per cent. Meanwhile, the Nifty IT index ended wee bit in the red.
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Indian equities rose in-line with global markets as they cheered progress on ceasefire negotiations between Russia and Ukraine. That apart, investors also welcomed a 25-bps rate hike by the US Federal Reserve, which was on expected lines.
The benchmark indices ended near the day’s high level at 57,864, up 1,047 points or 1.84 per cent. The Nifty50, meanwhile, zoomed 312 points or 1.84 per cent to settle at 17,287. Both the indices had hit an intra-day high of 58,096 and 17,345, respectively.
HDFC was the top index gainer today, rallying 5.4 per cent on the NSE. JSW Steel, Titan Company, SBI Life, RIL, Kotak Bank, Tata Consumer Products, Tata Steel, Nestle India, and Eicher Motors were the other notable gainers, up between 3 and 5 per cent.
Only four large-cap counters ended in the red, including Infosys, Cipla, Indian Oil, and HCL Tech. All these stocks dipped between 0.4 and 1 per cent.
In the broader market, the BSE MidCap and SmallCap indices added 1 per cent each.
For the week, the benchmark Sensex and Nifty indices climbed over 4 per cent while the BSE MidCap and SmallCap indices zoomed 2 per cent each.
Sectorally, the Nifty Realty index advanced over 3 per cent today, ending as the top sectoral gainer for a second straight day. The Nifty Financial Services, Bank, and Metal indices edged between 2 and 2.5 per cent higher.
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Domestic equities witnessed sharp profit booking in the fag end of the session as European stocks slipped in early trade and US stock futures hinted at a muted start on Wall Street later today.
After ruling higher for better part of the day, domestic equities witnessed sharp profit booking in the fag end of the session as European stocks slipped in early trade and US stock futures hinted at a muted start on Wall Street later today.
Concerns about the fast-spreading Delta variant and regulatory actions in China dragged the pan-European STOXX 600 index down 0.5 per cent while Dow Jones Futures were quoting 100 points, or 0.3 per cent, lower. Nasdaq Future, meanwhile, tumbled 1.1 per cent and those linked to S&P500 declined 0.6 per cent. Earlier in Asia, Nikkei skidded 2 per cent, and Kospi and Hang Seng erased over 1 per cent each.
Against this backdrop, the frontline S&P BSE Sensex gyrated 376 points in intra-day trade and ended 66 points, or 0.13 per cent, lower at 52,587 levels dragged by Bajaj Finance (down 2.5 per cent), Bajaj Finance, SBI, Tata Steel, Titan, Asian Paints, Axis Bank, IndusInd Bank, and Nestle India.
It’s NSE counterpart, Nifty50, shut shop at 15,763 levels, down 15 points or 0.1 per cent. The broader markets, however, outperformed with the BSE MidCap and SmallCap indices zooming 0.52 per cent an 0.69 per cent, respectively.
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Equity market came under pressure on Friday after the Supreme Court (SC) rejected the telecom companies’ plea seeking new schedule of adjusted gross revenue (AGR) payments and directed them to clear their dues to the government by March 17.
The S&P BSE Sensex slid 202 points or 0.49 per cent to settle at 41,258, with IndusInd Bank (down 4 per cent) being the top loser and Bharti Airtel (up nearly 5 per cent) the biggest gainer.
On the NSE, the benchmark Nifty50 index ended at 12,113, down 61 points or 0.5 per cent.
Among telcos, Vodafone Idea tumbled over 23 per cent to Rs 3.44 apiece on the BSE post the AGR verdict. Bharti Infratel settled nearly 6 per cent lower at Rs 231. On the other hand, Bharti Airtel jumped 5 per cent to a fresh lifetime high of Rs 565 on the BSE as investors bet on a potential duopoly in the Indian telephony market after the Supreme Court today rejected the telcos’ review plea on adjusted gross revenues (AGR) payments. The stock settled at Rs 564, up around 4.5 per cent.
Financial and banking stocks, too, took a beating following the decision as, according to reports, they have high exposure to Vodafone Idea’s debt. Nifty Bank tumbled 395 points or over 1 per cent to 30,835 points.
In the broader market, the S&P BSE MidCap index slipped 0.8 per cent while the S&P BSE SmallCap index settled 0.4 per cent lower at 14,683.
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Source: https://stockarchitect.com/sector/Iron-And-Steel-OR-Interm010Products
Benchmark indices ended sharply up on Friday, triggered by corporate earnings and taking cues from global peers.
The S&P BSE Sensex hit an intra-day high of 35,065, but pared gains to end at 34,970 levels, up 256 points. The broader Nifty50 index settled at 10,692, up 75 points.
Reliance Industries (RIL) hit a record high of Rs 1,000 per share, up 2.5% on the BSE in intraday trade on the BSE, ahead of its Q4FY18 results today. The stock surpassed its previous high of Rs 990 recorded on January 23, 2018 in intra-day deal. The textiles-to-telecom conglomerate, RIL is expected to post its best-ever quarterly consolidated net profit, with the figure expected to be close to Rs 100-billion mark.
Country’s largest car maker, Maruti Suzuki, reported a record annual profit of Rs 77.21 billion for the year ended March 31, 2018, helped by a double-digit growth in volumes of cars sold. The Suzuki-promoted firm clocked a near 17 percent jump in sales revenue for the year to Rs 781 billion. Profit, however, grew by just five percent. An increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year impacted net profit, the company said.
Shares of public sector undertaking (PSU) banks were in focus with Nifty PSU Bank index gaining 5%, its sharpest intra-day gain during past one month on the National Stock Exchange (NSE).
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The domestic indices ended 1% higher on Friday taking cues from the global markets. The S&P BSE Sensex ended at 34,142, up 323 points while the broader Nifty50 index settled at 10,491, up 108 points.
Among sectoral indices, the Nifty Metal index ended nearly 3% higher on Friday led by a rise in the shares of Jindal Steel & Power, Tata Steel and National Aluminium Company. The Nifty Pharma index also ended over 2.5% higher led by surge in the stocks of Sun Pharmaceutical Industries and Divi’s Laboratories.
Sun Pharmaceutical Industries turned volatile, trading 3.5% higher at Rs 561 on the BSE at 02:34 pm on Friday, after the company said the US Food and Drug Administration (USFDA) issued Form 483, with three observations, for its Halol facility in Gujarat.
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Benchmark indices rose for the second straight session on Friday amid hopes the ruling Bharatiya Janata Party (BJP) would win critical state elections in Gujarat beginning this weekend, while automakers gained on reports of an expected price hike next year.
The election in Prime Minister Narendra Modi’s home state is a key test for the BJP, ahead of general elections in 2019. The results will be out later this month.
According to polls, the BJP could win, but with a reduced majority – an outcome that would still soothe investors, who are hoping for more political stability and have largely welcomed Modi’s reform agenda.
The S&P BSE Sensex ended at 33,250, up 301 points while the broader Nifty50 index settled at 10,265, up 98 points. Broader markets were in line with the frontline indices with BSE Midcap up 0.9% and BSE smallcap up 1%
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The benchmark indices on Friday extended losses to end lower as global markets dipped after the United States launched cruise missiles against an airbase in Syria, while back home expectations of no further rate cuts this year by Reserve Bank of India (RBI) also impacted the sentiment.
The S&P BSE Sensex ended at 29,706, down 221 points, while the broader Nifty50 settled at 9,198, down 64 points.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower.
The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,620 shares declined and 1,293 shares rose. A total of 129 shares were unchanged.
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