Financial shares came to the rescue of the benchmark indices for the second straight day, as select index heavyweights weighed under selling pressure.
The BSE benchmark index, the Sensex, opened 120-odd points higher at 61,044, and rallied to a high of 61,420 on the back of fresh buying in early trades. Selling pressure re-emerged in second half of the trading session, with ITC, technology and metal stocks leading the fall. The BSE 30-share index slid to a low of 60,551 – down 869 points from the day’s high.
The Sensex eventually ended with a minor loss of 100 points at 60,822. The NSE Nifty from a high of 18,314, dropped to a low of 18,034, and finally settled 63 points lower at 18,115. The India VIX declined 1.8 per cent to 17.70.
Among sectors, the Bank Nifty rallied to a fresh all-time high at 40,587, and ended 0.7 per cent higher at 40,315. The Realty index surged 2.4 per cent to 509.75. On the flip side, the NSE Metal index tumbled over 3 per cent to 5,686. The Media index shed 2.3 per cent, while the ITC and Pharma indices were down 1.5 per cent each.
In the broader markets, the BSE Midcap and Smallcap indices were down over a per cent each. The overall breadth too was fairly negative, with 1,967 declining stocks versus 1,327 advancing shares on the BSE.
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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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The bulls continued to be in the driver’s seat on Friday as the benchmark indices scaled fresh all-time highs after the Reserve Bank of India (RBI) revised upwards the economic growth projections for the fiscal year 2020-21 (FY21) and assured ample liquidity for the stressed sectors.
The S&P BSE Sensex hit a new milestone today as the index breached the crucial 45,000 level for the first time ever to end at 45,080 levels, up 447 points, or 1 per cent. On similar lines, NSE’s Nifty ended at 13,259, up 125 points, or 0.95 per cent. Volatility index, India VIX, dropped over 5 per cent to 18 levels.
On a weekly basis, Nifty gained 2.2 per cent while Sensex added 2 per cent.
In the broader market, the S&P BSE MidCap index ended 0.44 per cent higher at 17,389 levels while the S&P BSE SmallCap index settled at 17,317, up 72 points, or 0.42 per cent.
On the NSE, all sectoral indices ended in the green with Nifty Bank surging the most – up 2 per cent or 604 points to 30,052 levels.
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Extending its slide for the second consecutive day, the domestic equity market ended with nearly half a per cent loss on Friday, mainly dragged by information technology (IT) shares. Besides, uncertainty on US-China trade deal talks, too, hurt sentiment.
The S&P BSE Sensex lost 216 points or 0.53 per cent to end at 40,359 levels. During the day, the index hit a high and low of 40,653.17 and 40,276.83, respectively. Tata Steel (up over 4 per cent) was the top gainer on the index while IT major Infosys (down around 3 per cent) was the biggest loser.
On the NSE, the broader Nifty50 index ended at 11,914, down 54 points or 0.45 per cent with 29 constituents declining and 21 advancing.
In the broader market, the Nifty Midcap 100 index ended flat at 16,868, up just 5 points or 0.03 per cent while Nifty Small Cap 100 index ended at 5,702, down over 4 points or 0.08 per cent.
India VIX declined over a per cent to 14.82 levels.
Sectorally, IT stocks declined the most with the Nifty IT index ending 2 per cent lower at 14,996 after reports said Goldman Sachs has downgraded counters such as Tata Consultancy Services (TCS), Wipro, and Mphasis. The brokerage, as per reports, noted that the IT sector, as a whole, will face cyclical hiccup ahead and the current valuation of the sector is at premium to historical average.
Financial and FMCG stocks, too, ended in the negative territory. On the flip side, metal stocks witnessed sharp rally in the fag-end of the session. Nifty Metal index added over 2 per cent to 2,521 levels.
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Source: https://stockarchitect.com/sector/2-OR-3-Wheelers
The S&P BSE Sensex partially recovered after crashing over 1,400 points in from the day’s high to settle 280 points lower at 36,842 on Friday.
The Nifty 50 index hit a low of 10,866 levels, but settled 91 points lower at 11,143.
The decline came on the back of a sharp fall in NBFC stocks. DHFL skidded over 50% in intraday trade on fears of a liquidity crisis. The management, however, assuaged investor concerns and said the company has not defaulted on any repayments. The stock settled nearly 45 per cent lower at Rs 337.80 on the BSE. According to the analysts, the IL&FS crisis was the main reason behind the selloff. That apart, a rise in bond yields also weighed on the sentiment.
In the broader markets, the S&P BSE SmallCap index fell 3 per cent to 15,763 levels, while the S&P BSE MidCap index lost 1.7 per cent to end at 15,596 levels.
NSE’s Volatility Index (India VIX), or the fear gauge, rose by over 11%
YES Bank fell 34 per cent in intra-day trade after the Reserve Bank of India (RBI) trimmed Rana Kapoor’s tenure as its MD & CEO. The private sector lender said on Wednesday that the Reserve Bank of India (RBI) had allowed Kapoor to continue only till January 31. According to sources, the RBI has cited corporate governance and regulatory issues for not extending Kapoor’s term. Further, the lender has been directed to search for a successor.
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Equity benchmarks closed sharply higher for the second consecutive session as investors cheered macro data and hopes raised for an early resolution to telecom NPAs post telecom deals.
The 30-share BSE Sensex was up 250.47 points at 32,432.69 and the 50-share NSE Nifty rose 71.10 points to 10,167.50.
The market breadth was weak as about 1,431 shares declined against 1,293 advancing shares on the BSE.
Bharti Airtel was up 6 percent, Tata Teleservices up 9 percent and Tata Communications up 2 percent after Airtel decided to buy consumer telecom business of Tata Sons. Bharti Infratel was up 3 percent.
Markets also got a boost after data showed inflation held steady, instead of accelerating as expected, raising tentative hopes the Reserve Bank of India (RBI) would be less hawkish about interest rates.
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