Indices settled higher on Friday ahead of finance minister Nirmala Sitharaman’s media address, scheduled later in the day, wherein measures to revive the economy, clarity on the possible rollback of super-rich tax on FPIs, and implementation of direct tax code (DTC) are expected.
That apart, investors were also eyeing Federal Reserve chair Jerome Powell’s speech at Jackson Hole, Wyoming for clarification on whether the US central bank remains on course to deliver another interest rate cut in next month.
The benchmark S&P BSE Sensex settled 228 points, or 0.63 per cent, higher at 36,701 levels lifted by gains in metals, and public sector banks’ stocks. Vedanta, YES Bank, ONGC, and M&M were the top gainers at the 30-share index, while IndusInd Bank, ITC, ICICI Bank, and Power Grid ended as top laggards. The broader Nifty50, too, closed at 10,829-mark, up 88 points or 0.82 per cent.
The Sensex and Nifty50 settled nearly 600 and 192 points higher, respectively from the day’s low.
For the week, both Sensex and Nifty50 settled in the negative territory for second week in a row, down 2 per cent each. Further, Nifty Bank index slipped 4.5 per cent this week, registering the biggest weekly fall in 11 months, while Nifty mid-cap index settled 3 per cent lower, its biggest monthly fall.
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Markets ended flat on Friday dragged by uncertainty over announcement of any revival package by the government and weak global cues. Indices remained lacklustre for better part of the day, only to turn volatile in the afternoon trading session.
The benchmark S&P BSE Sensex settled with gains of 39 points, or 0.10 per cent, at 37,350 levels led by banking and automobile stocks. The gains were, however, capped by losses in the technology and metal scrips. Power Grid, Maruti Suzuki, YES Bank, and IndusInd Bank were the top gainers at the 30-share index, while TCS, Vedanta, HCL Tech, and HDFC were the top laggards. The broader Nifty50, too, closed at 11,048-mark, up 18 points or 0.17 per cent.
Sectorally, public sector banks gained the most, with the Nifty PSU Bank index closing 1.5 per cent higher. This was followed by Nifty auto index, up 1.15 per cent. Nifty IT and pharma indices ended with cuts of 0.65 per cent and 0.77 per cent, respectively.
In the intra-day trade, the Sensex and Nifty50 slumped to lows of 36,974 and 10,924 levels, down 337 points and 105 points respectively.
In the broader market, S&P BSE mid-cap ended the day at 13,491 level, up 14 points or 0.10 per cent. Further, S&P BSE small-cap settled at 12,585 level, up 14 points, or 0.11 per cent.
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Indices remained buoyed on Friday, ahead of the government’s meeting with foreign portfolio investors (FPIs) and representatives from the financial sector, which was scheduled later in the day. Sentiment was further strengthened on reports that government could approach the Goods and Services Tax (GST) Council to relieve the auto-industry from tax payment for three-six months along with measures to relieve real estate sector.
The benchmark S&P BSE Sensex soared 480 points intra-day to 37,807.5 level, while the Nifty50 zoomed 149 points to 11,181 mark.
At close, the Sensex settled 255 points, or 0.68 per cent, higher at 37,582 levels lifted by gains in auto and banking counters. Maruti Suzuki, Vedanta, Bajaj Finance, and HDFC Bank were the top gainers while YES Bank, Tech Mahindra, Tata Steel, and ITC were the top laggards. The broader Nifty50, too, ended at 11,110 mark, up 77 points, or 0.7 per cent.
Sectorally, metal, information technology (IT), pharma and public sector bank (PSBs) indices ended in the red while auto, private bank, realty, and FMCG scrips ended with gains. Nifty auto index was the top gainers, up 2 per cent, while Nifty metal index slipped 0.68 per cent.
In the broader market, the S&P BSE mid-cap index ended 104 points, or 0.77 per cent, higher at 13,670 level. The S&P BSE small-cap index, on the other hand, settled 125 points, or 1 per cent, higher at 12,699 level.
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Fresh trade war concerns between the United States and China weighed down investors’ sentiment on Friday leading to a sluggish trade through the day. The benchmark S&P BSE Sensex and the broader Nifty50 plummeted 411 points and 131 points respectively during the intra-day trade before staging a smart recovery during the last trading hour.
Indices inched higher on reports that the PMO took stock of the steep sell-off being witnessed in the market since the presentation of the Union Budget 2019-20. Reports suggested that PMO met officials from the Finance Ministry on Thursday to discuss concerns raised by the FPIs and even considered proposals submitted by them.
The Sensex closed at 37,118 level, up 100 points, or 0.27 per cent with Bharti Airtel, Asian Paints, Bajaj Auto, and Maruti being the top gainers. On the other hand, Tata Steel, SBI, Vedanta, and ONGC ended the day with steep losses. The broader Nifty50 failed to hold the psychological 11,000-mark to end at 10,997, up 17 points, or 0.16 per cent.
In the broader markets, S&P BSE Mid-cap closed at 13,547 level, up 20 points, or 0.15 per cent while the S&P BSE Small-cap settled 55 points, or 0.44 per cent, lower at 12,496 level.
Sectorally, metals slipped the most as risks to global economy increased after US President Donald Trump imposed fresh tariffs Chinese imports. The index dipped 2.16 per cent at close, followed by Nifty PSU Bank, down 1.12 per cent. Among the gainers, Nifty Auto index ended 1.26 per cent higher, followed by Nifty IT index, which gained 0.57 per cent on the back of weaker rupee.
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“Whenever I enter a position I have a predetermined stop. That’s the only way I can sleep at night. I know where I’m getting out before I get in.”- Bruce Kovner
The biggest reasons traders end up unprofitable is simply because their big losses knock out all their previous gains.
If you went back and removed your biggest losses over the past few months or year what would your trading results look like? Many of the best traders I know did this at some point in their trading careers and had an enlightening moment. The major factors that made them unprofitable or caused them big draw downs in capital were the big losses. The roots of the big losses were usually based in emotions and ego not a market event. A big loss is almost always caused by being on the wrong of a trend and then staying there.
What are the top 10 root causes of big losses in trading?
- Too stubborn to exit when proven wrong: You just refuse to take a loss; you think a loss is not real as long as you do not exit the trade and lock in the paper losses.
- Too much ego to take a loss: You are on the wrong side of the market trend but think if you hold a losing position you can be proven right on a reversal. While you are waiting to be proven right your loss gets bigger and bigger.
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Domestic indices ended Friday’s lackluster trade with marginal gains. The benchmark S&P BSE Sensex and broader Nifty50 traded range-bound for better part of the day tracking corporate earnings and weakness in global markets.
The Sensex ended 52 points, or 0.14 per cent, higher at 37,883 levels pulled up by automobile manufacturers, banking and financial stocks. YES Bank, Bajaj Finance, Hero Moto Corp, and M&M ended the day as top gainers while Vedanta, HDFC, Bharti Airtel, and Reliance were the top laggards at the close. On the other hand, Nifty50 settled at 11,284 mark, up 32 points, or 0.29 levels.
In the broader market, S&P BSE MidCap ended 73 points, or 0.53 per cent, higher at 13,856 levels while the S&P BSE SmallCap closed 29 points, or 0.22 per cent, higher at 13,060 levels.
Sectorally, all the indices ended in the green barring Nifty IT index. Nifty Auto index was the top performing index, closing with gains of over 2 per cent. Nifty Bank, including private bank and public sector bank indices, and Nifty Pharma ended with gains of a per cent each. Nifty IT index closed with a cut of 0.82 per cent.
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Markets saw the third-worst fall of 2019 on Friday as benchmark indices S&P BSE Sensex and Nifty50, both, fell to two-month low. The indices touched intra-day lows of 38,271 level at Sensex and 11,399 mark at Nifty. ‘Super-rich tax’ concerns on FPI, trade war tenions and weak corporate earnings contributed to the fall.
The Sensex tanked 560 points, or 1.44 per cent, to close at 38,337 levels with 26 of the 30 stocks listed at the index ending in the red. IndusInd Bank, Bajaj Finance, M&M, and YES Bank were the top laggards while only NTPC, TCS, PowerGrid and ONGC ended in the green. The Nifty50, too, lost 178 points, or 1.53 per cent, to settle at 11,419 mark. Of the 50 stocks listed at the index, only 7 stocks advanced while the remaining 43 declined.
In the broader market, S&P BSE MidCap closed 285 points, or 2 per cent, lower at 14,078 level while the S&P BSE SmallCap slipped 248 points, or 1.83 per cent, at 13,310 levels.
Sectorally, all the indices ended in the red. Nifty Auto index, too, tanked to two-month low to end 3.31 per cent lower. This was followed by losses in Nifty Private Bank index and Nifty Pharma index, down 2.45 per cent and 2.23 per cent respectively.
The Nifty Auto index hitting a three-year low on Friday. Thus far in the calendar year 2019, auto index slipped 21 per cent, against 5 per cent rise in the benchmark index. M&M, Motherson Sumi Systems, TVS Motor Company, Exide Industries, Escorts, MSIL, Eicher Motors, Hero MotoCorp, Bosch and Ashok Leyland have seen market value erosion of more than 22 per cent during the period.
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Domestic indices ended Friday’s choppy session in the negative territory. The markets remained range-bound, in the positive territory, for most part of the day but were dragged lower by index heavyweights like HDFC Bank, Axis Bank, Larsen & Toubro, and Bajaj Finance.
The benchmark S&P BSE Sensex closed at 38,736 levels, down 87 points or 0.22 per cent. Among the gainers, YES Bank, Tata Steel, Sun Pharma and Vedanta topped the charts while ONGC, Bajaj Finance, ONGC and L&T were at the lower end of the spectrum.
The broader Nifty50 too settled with cuts. The 50-share index settled at 11,552 levels, down 30 points, or 0.26 per cent.
In the broader market, the BSE MidCap index ended 59 points, or 0.41 per cent, higher at 14,554 levels while the BSE SmallCap index closed 22 points, or 0.16 per cent, higher at 13,776 levels.
Sectorally, banking, financial services and FMCG counters were under pressure. The Nifty Bank index closed 0.37 per cent lower followed by Nifty Financial Services index, down 0.29 per cent. Among gainers, Nifty metals, pharma and realty counters were up between 0.4-0.7 per cent.
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Domestic indices plummeted on Friday as Modi government’s Union Budget for 2019-20 failed to cheer investors. Even though the markets opened higher with the benchmark S&P BSE Sensex zooming past the 40,000 mark to hit 40,032, the index fell over 500 points from the highs.
The S&P BSE Sensex closed 395 points, or 0.99 per cent, lower at 39,513 levels with the YES Bank, NTPC and Mahindra & Mahindra being the top laggards. The broader Nifty50 index tanked 136 points, or 1.14 levels, to end at 11,811 levels.
In the broader market, S&P BSE Mid-Cap ended 208 points, or 1.39 per cent, lower at 14,726 levels while the S&P BSE Small-Cap dipped 195 points, or 1.36 levels, to settle at 14,142 levels.
Sectorally, all the indices ended in the red except Nifty PSU bank and Nifty Bank index that gained after the finance minister announced that the government will pump in Rs 70,000 crore into public sector banks (PSBs) to strengthen them and enhance their lending capacity.
Metals, realty and auto counters were the biggest losers after the Budget proposed import duty hike for auto-parts, metals and other equipment used for manufacturing capital goods. Each index slipped over 3 per cent. PSU Bank index closed 0.18 per cent higher after gaining nearly 4 per cent intra-day on government’s proposal to recapitalize banks.
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Benchmark indices erased their early gains to close Friday’s session lower, dragged down by metal stocks.
The benchmark S&P BSE Sensex closed 192 points, or 0.48 per cent, lower, with YES Bank, IndusInd Bank, Tata Motors, Reliance Industries, and ONGC the top losers.
The broader Nifty50 index slipped 53 points, or 0.45 per cent, to 11,789. The market breadth remained in favour of sellers. About 919 stocks declined and 822 advanced on the NSE.
On a weekly basis, however, the indices gained with the Sensex closing 0.5 per cent higher and the Nifty climbing 0.6 per cent.
Among Nifty sectoral indices, only three closed the day in the green. Nifty Metal, down 1.1 per cent, took the deepest cuts while the Nifty Private Bank index dipped 0.6 per cent.
In the broader market, the S&P BSE MidCap index settled 45 points, or 0.3 per cent, lower at 14,808, while the S&P BSE SmallCap index lost 10 points, or 0.07 per cent, to 14,239.
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