Equity markets turned volatile on Thursday after the Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.5 per cent during its bi-monthly policy meeting. This was against Markets’ expectations of a 25-basis point hike. The dovish decision lifted investors’ spirits marginally as governor Shaktikanta Das said the move was only “a pause and not a pivot”.
Given this, the benchmark S&P BSE Sensex swung 430 points during the day, before ending 144 points, or 0.24 per cent, higher at 59,833. The Nifty50, too, settled near 17,600-mark at 17,599, up 42 points or 0.24 per cent.
The broader markets, meanwhile, outran the frontline indices with 0.7 per cent gain each on the BSE MidCap and SmallCap indices.
Among sectors, rate-sensitive Realty index surged nearly 3 per cent, followed by the Nifty Auto index (up 0.9 per cent), and the Nifty PSU Bank index (up 0.33 per cent). The Nifty IT index, however, capped gains as it fell 0.75 per cent.
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Equity markets logged solid gains on Friday, the last trading day of the financial year 2022-23, as fears of contagion risk from the US banking crisis receded. Index heavyweights – Reliance Industries, ICICI Bank and Infosys accounted for almost 60 per cent of the gains on the BSE benchmark.
The S&P BSE Sensex rallied to a high of 59,068, before ending with a solid gain of 1,031 points at 58,992. In the process, the BSE 30-share index edged 0.1 per cent up for the month, and finished FY23 0.7 per cent higher.
The NSE Nifty 50 hit a high of 17,382, and settled 279 points higher at 17,360. The 50-share index advanced 0.3 per cent in March, but was down 0.6 per cent for the fiscal year 2022-23.
The broader indices also logged smart gains. The BSE Midcap index was up a per cent, while the Smallcap index vaulted 1.4 per cent. The overall breadth too was fairly positive, with two advancing shares for every declining stock on the BSE.
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Equity markets turned sharply lower at the fag-end of the session as investors digested amendments to Finance Bill, 2023. Besides, selling in US index futures and European markets also weighed on the sentiment.
Back home, under the Bill approved by the Parliament, the debt mutual fund (Debt MF) investors will no longer receive the long-term capital gain tax benefit. They will be taxed like bank deposits. It will be applicable from April 1.
The Centre also hiked the securities transaction tax (STT) on the sale of future and option contracts by up to 25 per cent.
The S&P BSE Sensex closed 398 points, or 0.69 per cent, lower at 57,527 levels, while the Nifty50 shut shop at 16,945, down 132 points or 0.77 per cent.
The broad-based selling was led by metal, PSU banks, and realty indices, which were down over 2 per cent each. Individually, Bajaj Finserv (down 4 per cent), Adani Enterprises, Adani Ports, Hindalco, Bajaj Finance, ONGC, Hero MotoCorp, Tata Steel, Coal India. Titan, HDFC Life, Reliance Industries, M&M, JSW Steel, Maruti Suzuki, and L&T.
In the broader markets, the BSE MidCap and SmallCap indices declined around 1.4 per cent each.
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The Sensex and Nifty ended higher for the second straight trading session on Friday backed by renewed buying interest in IT and banking stocks. Realty shares too logged strong gains, while auto and pharma shares signed-off on a weak note.
The S&P BSE Sensex gyrated in a range of 675 points; the index from a high of 58,179 slipped into red to a low of 57,504. The BSE benchmark finally ended 355 points higher at 57,990.
The NSE Nifty 50 advanced 114 points as it reclaimed the 17,100 level.
The broader markets also finished with gains. The BSE Midcap index advanced 0.3 per cent, and the Smallcap index added 0.7 per cent.
Sectorally, the BSE Realty index soared 3.2 per cent and was the top gainer. The Metal index surged 2.4 per cent. The Bankex and IT index gained over a per cent each
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Equity markets roiled in global sell-off as contagion effect of overnight selling in the US markets, especially bank stocks, dented sentiment. The S&P BSE Sensex crashed 671 points, or 1.12 per cent, to close at 59,135. The Nifty50, meanwhile, gave up the 17,450-mark to end at 17,413, falling 177 points or 1 per cent. These indices hit intra-day lows of 58,885, and 17,324, respectively.
Financial stocks were the worst hit today, amid near broad-based selling, with HDFC Bank (down 2.6 per cent), HDFC, SBI, IndusInd Bank, Bajaj Finserv, Axis Bank, ICICI Bank, Kotak Bank, and Bajaj Finance featuring among the top 15 laggards on the Sensex. Index-wise, the Nifty PSU Bank index declined 2.2 per cent, while the Nifty Bank and Private Bank indices fell 1.8 per cent each.
Other large-cap laggards were RIL, L&T, M&M, and Asian Paints, down up to 1.5 per cent.
In the broader markets, the BSE MidCap and SmallCap indices dropped less than 1 per cent each.
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Domestic markets rallied smartly in trades on Friday, as positive global cues coupled with the Rs 15,446 crore stake buy by GQG Partners in Adani Group boosted sentiment. The Group shares along with PSU Banks and select index heavyweights were the major gainers.
The S&P BSE Sensex soared to a high of 59,967, and ended with a gain of 900 points at 59,809. In the process, the BSE benchmark was up 345 points for the week.
The NSE Nifty 50 touched a high of 17,645, before signing-off at 17,594 – up 272 points. The Nifty was up 128 points for the week.
The positive sentiment had a spillover effect on PSU Banks. The Nifty PSU Bank index soared 5.4 per cent to 3,970. UCO Bank and Union Bank galloped over 8 per cent each. Maharashtra Bank, Punjab & Sind Bank, Indian Overseas Bank, Bank of India and Indian Bank rallied over 6 per cent each. SBI and Canara Bank vaulted over 5 per cent each.
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Domestic equities’ losing run entered sixth straight session on Friday as growth concerns, amid fears of elevated interest rates, hurt sentiment. The S&P BSE Sensex fell 142 points, or 0.24 per cent, to close at 59,464, while the Nifty50 declined 45 points, or 0.26 per cent, to end at 17,466.
Adani Enterprises (down 5 per cent), Hindalco, JSW Steel, M&M, Tata Steel, SBI Life, L&T, Tata Motors, BPCL, HDFC Life, HDFC, and HDFC Bank were the top laggards. On the flipside, ONGC, Divis Labs, Asian Paints, Coal India, Adani Ports, Bajaj Auto, Power Grid, and NTPC eked out gains.
In the broader markets, the BSE MidCap index dipped 0.17 per cent, and the BSE SmallCap index eased 0.15 per cent. Sectorally, the Nifty Metal index plunged 3 per cent, followed by the Nifty PSU Bank index (down 0.8 per cent).
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The key benchmark indices wilted under the selling pressure on Friday amid fears of higher interest rates globally. Banks and realty stocks bore brunt of the selling pressure, as the Sensex and Nifty snapped their three-day winning run.
The S&P BSE Sensex started the day with a negative gap of over 300 points at 60,994; the index did recoup losses but could only manage to touch a high of 61,303. A fresh round of selling in noon deals, saw the BSE benchmark slide to a low of 60,811 – down 509 points from the previous day’s close.
Some buying in late trades helped the Sensex trim losses and end at 61,003, down 317 points.
The Nifty 50 registered a low at 17,885, before settling 92 points lower at 17,944.
A vast majority of the Nifty 50 stocks ended in red today. Adani Enterprises was the top loser, down over 4 per cent. Nestle, IndusInd Bank, SBI Life, HDFC Life and Mahindra & Mahindra were the other major losers. On the other hand, Larsen & Toubro gained over 2 per cent. UltraTech Cement, BPCL, Hero MotoCorp and Asian Paints were the other major losers.
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It was a lacklustre session for the markets on Friday as lack of fresh triggers kept indices within a narrow range. The S&P BSE Sensex fell 123.5 points, or 0.2 per cent, to settle at 60,682.7 levels today amid profit booking in HCL Tech (down 2.7 per cent), Tata Steel, Reliance Industries, Wipro, ITC, ICICI Bank, Infosys, and HUL.
The Nifty50, meanwhile, closed at 17,857, down 37 points or 0.2 per cent. In the broader markets, the BSE SmallCap indices outshone its peers by rising 0.48 per cent. The BSE MidCap index settled flat with a positive bias.
Among individual shares, shares of Gautam Adani group companies continued to reel under pressure Adani Green Energy, Adani Transmission and Adani Total Gas hitting their respective 52-week lows on the BSE in Friday’s intra-day trade.
Besides, shares of digital financial services firm One97 Communications, which owns Paytm, slipped 9 per cent to Rs 640 on the National Stock Exchange (NSE) in Friday’s intra-day trade on the back of heavy volumes.
Sectorally, the Nifty Metal index slipped 2 per cent, while the Nifty Realty index gained 1.36 per cent.
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Bulls roared on Dalal Street Friday as benchmark indices ended with strong gains led by financial stocks. The BSE Sensex zoomed 910 points to end at 60,842, while the Nifty50 index climbed to 17,854 level with a gain of 254 points as select Adani group stocks saw an impressive pullback from days of relentless selling.
On the Nifty, Adani Ports closed in green after two days with a firm gain of 6 per cent., while Adani Enterprises erased over 50 per cent of its day’s losses to close 2 per cent down. Titan, Bajaj twins, HDFC twins, SBI, IndusInd Bank, Eicher Motors, M&M, Airtel and SBI Life were the other frontline winners, which ended 3-7 per cent higher.
IT majors Tech M, Wipro, HCL Tech were the only losers on the Sensex, while Divi’s Lab, BPCL, Tata Consumer, HDFC Life and Hindalco ended in red on Nifty.
The frontline gains did not seep into the broader markets with the BSE Midcap and Smallcap indices ending up to 0.5 per cent lower.
Within sectors, the PSB index on the NSE soared 3 per cent led by the strong Q3 result of Bank of Baroda. Nifty Bank also gained 2 per cent, while pharma, oil & gas and realty indices closed up to 1 per cent lower.
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