After witnessing a sharp fall on Thursday due to geo-political concerns, markets rebounded and ended flat on the first day of October series despite weak global cues.
The S&P BSE Sensex ended up 38 points to settle at 27,866 and the Nifty50 settled 20 points higher at 8,611. In the broader market, both the BSE Midcap and Smallcap indices outperformed the front-liners with gains of 2% each.
On Thursday, markets ended at their lowest closing levels since August 26, 2016 as risk-aversion prevailed following September F&O expiry and concerns over foreign capital outflows amid geo-political tensions arising between India and Pakistan after the Indian Army conducted surgical strikes across LoC in Pakistan on Wednesday night.
Top gainers from the Sensex pack included GAIL, M&M, ONGC, Power Grid and Tata Steel, all surging between 1%-3%. On the losing side, Cipla, ITC, Coal India, Bharti Airtel and HUL slipped between 1%-3%.
Benchmark indices lost ground in late trades to end lower as investors booked profits after gains in the previous session post the US Federal Reserve’s decision to keep interest rates unchanged.
The S&P BSE Sensex slipped 105 points to close at 28,668 and the Nifty50 settled 36 points lower at 8,832. Among broader markets, BSE Midcap and Smallcap indices ended up 0.1%-0.3% each. Market breadth ended weak with 1496 losers and 1166 gainers on the BSE.
Foreign institutional investors were net buyers in equities worth Rs 337 crore on Thursday, as per provisional stock exchange data.
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Benchmark indices ended higher, amid choppy trades, after weak US data dimmed prospects of an interest rate increase by the Federal Reserve next week.
Besides, India’s trade deficit declined sharply to 38.1% to $7.67 billion in August 2016 from $12.39 billion in August 2015. Exports fell 0.3% to $21.52 billion in August 2016 over August 2015. Imports fell 14.09% to $29.19 billion in August 2016 over August 2015.
The S&P BSE Sensex rose 186 points to end at 28,599 and the Nifty50 gained 37 points at 8,780. In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%.
Among key stocks, Power Grid, ITC, Maruti Suzuki, Reliance Industries and Adani Ports surged between 1.5%-2.5%.
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Markets on Friday ended lower, amid weak global cues, as investors booked profits after sharp gains in the previous session which lifted the benchmarks to 18-month highs. Further, testing of a nuclear weapon by North Korea also dampened sentiment for riskier assets.
The S&P BSE Sensex ended down by 248 points at 28,797 and the Nifty50 slipped 86 points to settle at 8,867. In the broader markets, BSE Midcap and the Smallcap indices eased between 0.5%-1% each. Market breadth ended weak with 1604 losers and 1146 gainers on the BSE.
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Renewed buying interest drove equity benchmarks nearly 3 percent higher during the week, which was the first weekly rally after consolidation for a month.
Late buying helped the Nifty close above psychological 8800 level for the first time since April 2015, driven by banks, auto and telecom stocks.
The 30-share BSE Sensex rose 108.63 points to 28532.11 and the 50-share NSE Nifty gained 35 points at 8809.65.
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This is an interview with Saurabh Mukherjea, author of the book ‘The Unusual Billionaires’. The original post appears here on moneycontrol.com.
Saurabh feels the buy-and-hold approach to investing holds true even as volatile financial markets and disruptive changes across sectors are questioning its validity.
Consistent revenue growth combined with a consistent return on capital employed: if a company has been delivering on these two parameters for over ten years, then look no further. That, in effect, is the theme of Saurabh Mukherjea’s second book ‘The Unusual Billionaires’. The book says that a portfolio of companies which satisfies both these criteria will invariably beat the market over the next decade and more.
Mukherjea, whose day job is CEO, Institutional Equities at Ambit Capital, feels the buy-and-hold strategy for stock investing holds true even as volatile financial markets and disruptive changes across sectors are questioning its validity.
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The flower of optimism wilted on Dalal Street on Friday as Wipro hit its lowest level in more than two years.
The benchmark S&P BSE Sensex shed 54 points to end the day at 27,782. The 50-share gauge Nifty50 closed at 8,572, lower by 19 points.
Shares of Wipro tumbled to their two-year low during the session. The stock plunged another 3 percent after a 3 percent decline seen on Thursday. The company had posted weaker-than-expected numbers for June quarter and investors see it wilting under the pressure that the IT giants are facing this year.
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A Chinese philosopher, Lao Tzu (not Confucius) so rightly said, “A journey of a thousand miles begins with a single step”.
Somewhere in 2010, what started as just another idea, soon developed into a web portal. A portal where people could get real-time views of the people who matter and about the scripts they wanted to gather information about.
Just last week, we hit 15000 users! And as we write, the number has already crossed 15200. While we would like to thank each one of you personally, this, honestly, is a herculean task. This post is our effort to reach out to each one of you and say thank you. We are well and truly humbled by your support, without which, we would not have been able to reach this milestone.
From the team at StockArchitect, here’s to more information, ideas and investing in the years to come. Exciting times ahead as we are bringing in new features including a complete revamp of the website. Should you have any suggestions, please send them to us online. Rest assured, we are listening.
Please follow us on other channels to get the information and a dash of investing humour too.
Thank you once again.
The StockArchitect Team
Markets consolidated with midcaps at record high. The Bank Nifty closed at its highest level in the last 17-months high. The Sensex was down 46.44 points or 0.2 percent at 28077 and the Nifty was down 6.35 points at 8666.90. About 1480 shares have advanced, 1237 shares declined, and 182 shares are unchanged.
In stock specific action SBI remained on buyers’ radar gained 4 percent as investors gave a thumbs up to its merger ratio. All SBI associates including State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner and Jaipur jumped.
BHEL, Tata Steel, HUL and Cipla were other top gainers while Coal India, TCS, Lupin, Sun Pharma and M&M were losers in the Sensex.
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Banks led the major support with the PSU Bank index surging 6.5 percent. State Bank of India and Bank of India rallied 8-9 percent due to stable asset quality in Q1.
Shares of public sector undertaking (PSU) banks have rallied by up to 11% in intra-day trade after the State Bank of India (SBI) and Bank of India (BOI) reported June quarter results in line with the analyst forecast.
SBI and BOI rallied more than 8% each, while Indian Bank, Punjab National Bank, Union Bank of India, Dena Bank, Canara Bank, Oriental Bank of Commerce, Vijaya Bank, Allahabad Bank, Bank of Baroda and Syndicate Bank were up between 3%-6% on the National Stock Exchange (NSE).
The market has ended on a strong note with support from index heavyweights. The Sensex ended up 292.80 points or 1 percent at 28152.40, and the Nifty was up 80 points or 0.9 percent at 8672.15. About 1246 shares have advanced, 1413 shares declined, and 181 shares are unchanged.
SBI was up 7 percent, Axis Bank, Tata Motors, M&M and HDFC were top gainers while Cipla, Infosys, Sun Pharma, Asian Paints and Lupin were losers.
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