Benchmark indices climbed on Friday as investors cheered US Fed chair Jerome Powell’s comment that the US may be able to avoid a “deep recession” despite aggressive rate hikes. The S&P BSE Sensex, which had erased all the morning gains during the day, clawed back to end at 59,793, up 105 points or 0.18 per cent.
The Nifty50, on the other hand, settled at 17,833, higher by 35 points or 0.19 per cent. In the broader markets, the Nifty MidCap 100 added 0.35 per cent, while the Nifty SmallCap100 edged 0.06 per cent up.
Among individual stocks, Tech M, IndusInd Bank, Infosys, HCL Tech, Maruti Suzuki, SBI, and TCS were the top large-cap winners, while Astral, Godrej Industries, Bajaj Holdings and Investments, All Cargo Logistics, Nazara Technologies, and Stove Kraft were the top broader market gainers.
Sectorally, the Nifty IT index jumped the most, up 2 per cent, while the Nifty Financial Services and Realty indices dipped 0.5 per cent each.
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Equity markets remained listless on Friday, swinging occasionally between gains and losses, as lack of domestic and global cues kept investors on the sideline. The S&P BSE Sensex settled today’s session 37 points, or 0.06 per cent, higher at 58,803. The NSE Nifty50, meanwhile, shut shop at 17,539, down 3 points or 0.02 per cent.
The broader markets, however, exhibited a strong show during the end but ended mixed. The BSE MidCap index dipped 0.35 per cent while the BSE SmallCap index eked out gains of 0.04 per cent.
Among sectors, the Nifty Financial Services and FMCG indices added 0.5 per cent and 0.4 per cent, respectively, while the Nifty PSU Bank index fell 0.77 per cent.
Shares of Adani Enterprises hit a record high of Rs 3,369 after they gained 4 per cent on the National Stock Exchange (NSE) in Friday’s intra-day trade. The spurt comes after the NSE announced the company’s inclusion in the benchmark Nifty 50 index.
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It was a range-bound trade on the bourses on Friday as investors awaited US Fed chief Jerome Powell’s address at the Jackson Hole Symposium later tonight. The S&P BSE Sensex traded between 58,723 and 59,321, and ended at 58,834, up 59 points or 0.1 per cent.
The NSE Nfty50, meanwhile, shut shop at 17,559, up 36 points or 0.21 per cent. It touched a high of 17,686 and a low of 17,519 on the NSE. In the broader markets, the Nifty MidCap 100 and the Nifty SmallCap 100 settled up to 0.7 per cent higher.
Among sectors, the Nifty Metal index rose 1.7 per cent, followed by the Nifty PSU Bank index, up 1 per cent. On the flipside, the Nifty Private bank index fell 0.3 per cent.
Shares of Syrma SGS Technologies (Syrma) soared 42.2 per cent to Rs 313 against its issue price of Rs 220 per share on debut on Friday. The stock of the industrial electronics company listed at Rs 262, a 19 per cent premium when compared to its issue price on the BSE. On NSE, the stock started trading at Rs 260.
The Rs 562-crore IPO of DreamFolks received a bumper response from investors on the last day of the issue. The offer was subscribed nearly 53 times till 3:30 PM with retail investors’ quota at 42x subscription, NII at 37.5 times, and QIB at 64 times.
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Equity markets cracked, while bond yields on the 10-year government securities firmed up, in the second half of the trading session on Friday as growth concerns weighed on investor sentiment. The S&P BSE Sensex crashed 937 points from the day’s high and hit a low of 59,474 during the day. It, eventually, closed at 59,646, down 652 points or 1.08 per cent.
The NSE Nifty50, meanwhile, touched an intra-day low of 17,710 before settling 198 points, or 1.1 per cent, lower at 17,758.
The broad-based sell-off was led by financials including IndusInd Bank (down 4 per cent), Bajaj twins, SBI, ICICI Bank, Kotak Bank, and HDFC duo. That apart, Tata Steel, NTPC, HUL, Maruti Suzuki, RIL, and M&M were the other heavyweight losers. The only Sensex gainers were L&T, Infosys, and TCS.
Sectorally, the BSE Metal index shed 1.8 per cent, the BSE Bankex index 1.7 per cent, and the BSE PSU index 1.6 per cent
In the broader market, the BSE MidCap and SmallCap indices fell 1.27 per cent and 0.93 per cent respectively.
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The volatile day in the markets ended mildly above the flat line on Friday as investors awaited India’s retail inflation data for July. The S&P BSE Sensex gyrated around 425 points, before closing 130 points, or 0.22 per cent, higher at 59,463. The Nifty50 closed at 17,698, up 39 points or 0.22 per cent.
In the broader markets, the BSE MidCap and SmallCap indices closed 0.15 per cent and 0.4 per cent higher, respectively. Among sectors, the Nifty IT and Pharma indices fell 1.15 per cent each, while the Nifty Oil and Gas index rose over 2 per cent.
Stock of the day: Tata Elxsi. Shares of Tata Elxsi hit a new high at Rs 10,150 as they rallied 6.8 per cent on the BSE in Friday’s intra-day trade on the back of a strong growth outlook. Tata Elxsi is a subsidiary of Tata Sons.
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It was a wild ride for the markets on Friday as a hawkish monetary policy by the Reserve Bank of India (RBI) led to a tug of war between bulls and bears. While an in-line repo rate hike of 50 basis points gave ammunition to the bulls, bears tried to drag the indices as inflation projections were maintained for fiscal 2022-23 (FY23) despite three consecutive rate hikes.
Overall, the S&P BSE Sensex oscillated within a band of 405 points during the day, hitting a high of 58,649, and a low of 58,244. The index ended at 58,388, up 89 points or 0.15 per cent. The Nifty50, on the other hand, closed 16 points, or 0.09 per cent, higher at 17,397 levels.
In the broader market, the BSE MidCap and SmallCap indices added up to 0.2 per cent. Among sectors, the Nifty Auto index fell over 1 per cent, bogged down by Balkrishna Industries (down 7 per cent), and M&M (2 per cent). On the upside, the Nifty IT index gained 0.6 per cent.
Rate-sensitive stocks hogged the limelight as Manappuram Finance soared nearly 10 per cent, clocking its biggest intra-day gain in recent times. Meanwhile, shares of State Bank of India were up 1.5 per cent and were seen inching towards a new historic peak; automobile major Bajaj Auto and realty player DLF were trading with modest gains.
The rate hike signaled the entire reversal of the Covid-era cuts. The latest rate action takes the total tally of rate hikes since May to 140 basis points. Accounting for introducing the SDF at a higher rate than the reverse repo rate in April, effective rate hikes stand at 180 bps in 2022.
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Benchmark indices settled near the day’s high on Friday as investors lapped up metal and IT shares, along with index heavyweights like Reliance Industries, HDFC twins, Sun Pharma, and Bajaj Finance.
The S&P BSE Sensex soared 712 points, or 1.25 per cent, to end at 57,570, while the Nifty50 shut shop at 17,158, up 229 points or 1.35 per cent. In the broader market, the BSE MidCap and SmallCap indices, too, added over 1 per cent each.
Sectorally, the Nifty Metal index climbed 4 per cent, followed by the Nifty IT index (2 per cent). Public sector banks were the only losers with the Nifty PSB index down 1.2 per cent.
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Benchmark indices staged a one-way rally, surging nearly a per cent on Friday, despite tepid global cues. The frontline S&P BSE Sensex zoomed 390 points to close at 56,072. The index hit an intra-day high of 56,186.
The Nifty50, on the other hand, ended at 16,719, up 114 points. It hit a high of 16,752. Ultratech Cement, Grasim, UPL, HDFC, HDFC Bank, Eicher Motors, and ICICI Bank were the top gainers, ralling over 2 per cent each. Infosys, Tata Consumer Products, NTPC, and Power Grid, on the other hand, shed over 1 per cent.
Sectorally, the Nifty Bank added 1.6 per cent, followed by the Nifty PSU Bank index (up 1.5 per cent). The Nifty IT fell 0.6 per cent.
In the broader market, the BSE MidCap index fell 0.2 per cent, but the BSE SmallCap index added 0.2 per cent.
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Benchmark indices moved sharply higher at the fag-end of the session, closing in the positive zone for the first time this week. The S&P BSE Sensex zoomed 345 points, or 0.65 per cent, to end at 53,761. The Nifty50, on the other hand, closed at 16,049, up 111 points or 0.7 per cent.
Tata Consumer Products, Titan, Eicher Motors, HUL, Tata Motors, Maruti, M&M, Nestle India, HDFC, L&T, and BPCL topped the charts, rising over 2 per cent each. Metal and IT stocks, including Tata Steel, HCL Tech, Wipro, and JSW Steel continued to lag, down up to 2.6 per cent.
In the broader market, the BSE MidCap index added 0.85 per cent, driven by IDBI Bank, TVS Motors, BEL, Cummins India, and Cholamandalam Finance. The BSE SmallCap index, too, gained 0.5 per cent.
Sectorally, the Nifty Auto index was the biggest gainer, up 2 per cent. The Nifty Metal, on the contrary, eased 0.8 per cent.
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Benchmark indices exhibited range-bound trade on Friday as lack of fresh triggers kept indices directionless. The S&P BSE Sensex remained within a narrow range of 348 points, while the Nifty50 travelled 118 points during the day.
By close, the 30-pack index settled at 54,482 levels, up 303 points or 0.56 per cent. The Nifty50, meanwhile, shut shop with gains of 88 points, or 0.54 per cent, at 16,221. In the broader market, the BSE MidCap and SmallCap indices added 0.2 per cent each.
L&T, PowerGrid, NTPC, ICICI Bank, DR Reddy’s Labs, Axis Bank, Bharti Airtel, and Nestle India were the top large-cap gainers, while M&M Financial Services, Oil India, SRF, Trent, Uttam Sugar, RateGain, and GR Infra surged in the broader market.
On the flipside, Tata Steel, IndusInd Bank, Maruti Suzuki, TCS, Crisil, Ashok Leyland, MFSL, RBL Bank, Ajmera Realty, PSP Projects, and Vakrangee were the top laggards across segments.
Among sectors, the Nifty Metal index was the sole loser, down 0.8 per cent. The Nifty Bank and FMCG indices, meanhile, were the outperformers, up 0.5 per cent each.
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