The benchmark indices ended higher on Friday with the Nifty50 settling above its crucial 9,950 mark, buoyed by a jump in Tata Steel on strong quarterly production numbers, while investors stayed cautious as Goods and Services Tax (GST) Council meeting went underway.
The Council is likely to give a major relief to exporters as well as small and medium enterprises (SMEs).
Tata Steel, Sun Pharma, NTPC, SBI, HUL, Bajaj Finance, GAIL and Hindalco Industries lead the rally.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,703 shares rose and 963 shares fell. A total of 111 shares were unchanged.
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Equity benchmarks rebounded in last hour of trade, but ended flat supported by index heavyweights Reliance Industries, HDFC Bank and Infosys. The indices were up 1% for the week.
The S&P BSE Sensex settled at 32,272, up 30 points while the broader Nifty50 index ended at 10,085, down 1 point
Among broader markets, BSE Midcap index underperformed the benchmarks indices, down 0.3% while BSE Smallcap index was up 0.4%
Global stocks remained subdued after North Korea fired another missile over Japan into the Pacific Ocean on Friday, in a sign that Pyongyang remains defiant despite tightening international sanctions.
The Nifty Pharma Index was down 0.5%, breaking its three-day winning streak.
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Benchmark indices rose on Friday and gaining for a third straight week after much weaker-than-expected economic growth data raised hopes the central bank would cut interest rates at its next policy meeting in October.
India’s gross domestic product (GDP) growth slid to a three-year low of 5.7% in the quarter ended June, a marked slowdown from a 6.1% growth in the previous quarter.
However, India’s factory activity unexpectedly expanded in August, snapping back from a contraction the previous month, as disruptions stemming from confusion over GST eased.
Broader markets outperformed the benchmark indices with BSE Midcap and BSE Smallcap up 0.9% and 0.8% respectively.
Shares of Gravita India touched 52-week high of Rs 134.65, rising 11% intraday on the back of strong Q1 numbers.
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The benchmark indices erased entire losses to settle near day’s high thanks to gains in metal, oil & gas and banking stocks, while the pharma index was the sole sectoral loser. Almost all constituents of the Nifty pharma index, which shed as much as 2.5% intraday, were in red.
The Sensex ended at 32,325, up 87 points, while the Nifty50 closed at 10,066, up 52 points. Both indices settled the week marginally higher.
Metals and oil marketing companies also led support to the market but the correction in Reliance Industries and healthcare stocks capped gains. Equity benchmarks opened lower and remained range bound till recovery in later part of the session.
In the broader market, the BSE Midcap outperformed to gain 0.6%, while the BSE Smallcap index settled little changed.
The breadth, indicating the overall health of the market, was negative. On the BSE, 1,388 shares fell and 1,198 shares rose. A total of 172 shares remained unchanged.
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Benchmark indices settled the day flat tracking weaker global cues amid concerns that central banks are moving closer to removing the monetary stimulus. The intra-day losses were recouped after index heavyweight Reliance Industries rallied to hit 9-year high. Losses were also capped as pharma and realty indices surged through the day on value buying.
Nifty was up 1.5% for the week, snapping a three-week losing streak, its biggest weekly gain since late May. On the other hand, BSE Sensex was up 1.4% for the week, extending gains for the second consecutive week.
The S&P BSE Sensex ended at 31,360, down 9 points after while the broader Nifty50 was ruling at 9,666, down 9 points
In the broader market, the S&P BSE Midcap was a little changed but ended in red while S&P BSE Smallcap index gained 0.3%.
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The benchmark indices settled lower on Friday as banking stocks dipped after the government notified the Banking Regulation (Amendment) Ordinance, 2017, while a drop in crude prices dragged down oil explorers such as ONGC and Oil India.
The S&P BSE Sensex ended at 29,858, down 267 points, while the broader Nifty50 closed at 9,285, down 75 points. The Nifty50 index reversed course seconds after hitting its fresh all-time high of 9,367 in early trade.
India VIX, essentially a fear gauge, closed the day at 11.98, rising over 5% from the previous close.
In the broader market, the S&P BSE Midcap and S&P BSE Smallcap indices settled 1% and 0.8% lower, respectively.
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The benchmark indices on Thursday settled the holiday-truncated week lower after index heavyweight Infosys’ revenue guidance and plan to distribute cash to shareholders fell short of expectations, raising concerns at the start of the March quarter earnings.
The geopolitical worries, after the United States launched cruise missiles against an air base in Syria last week and fears of a new weapons test by North Korea, also contributed to the losses.
Investors also took cues from the index of industrial production (IIP) data, which contracted in February and consumer price index (CPI)-based inflation data, which edged up in March.
The S&P BSE Sensex settled at 29,461, down 182 points, while the broader Nifty50 ended at 9,150, down 53 points. For the week, the Sensex shed 245 points or 0.8%, while the Nifty slipped 47 points or 0.5%.
The market on Friday extended fall for the second straight session as investors booked profits after a sharp rally that lifted the benchmark indices to near two-year highs in the previous session.
The negative trade in Asian markets, which slipped on expectations of a US interest rate hike in March, also weighed on sentiment.
The S&P BSE Sensex settled the day at 28,832, down 7 points, while the broader Nifty50 ended at 8,897, down 2 points.
The broader market outperformed the frontline indices. BSE Midcap gained 0.3%, while BSE Smallcap added 0.4%
The market breadth, indicating the overall health of the market, was negative. On BSE, 1,450 shares fell and 1,372 shares rose. A total of 171 shares were unchanged.
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Benchmark indices settled on a flat note tracking mixed cues from global peers after ECB unexpectedly reduced its monthly asset buys but pledged to keep its quantitative easing (QE) program beyond 2017, if needed. Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today’s session.
S&P BSE Sensex settled the day 53 points higher at 26,747 while Nifty50 gained 15 points to end at 8,262. In broader markets, BSE Midcap gained 0.21% while BSE small cap was up 0.52%.
Banking sector gained after RBI reversed its order forcing lenders to surrender all their extra cash and place it under the cash reserve ratio.
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The benchmark indices on Friday settled the day lower as auto makers dropped on sharp decline in monthly sales and stocks of telecom service providers – Bharti Airtel, Idea Cellular, Reliance Communications (RCom) – were hit by worries about intensifying competition with the extension of freebies offered by Reliance Jio (RJio) till March 2017.
Sentiment was also muted ahead of the release of the US monthly jobs data, a referendum in Italy over its constitution, and the Reserve Bank of India’s policy review next week.
The S&P BSE Sensex ended at 26,230, down 329 points, while the broader Nifty50 closed at 8,086, down 106 points.
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