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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Bears prowled on Dalal Street on Friday as recession fears hammered global equities. Key indices crumbled under heavy selling pressure today with banks (especially in the public sector), auto, IT, metal, and realty stocks plunging the most on the bourses. Their respective indices on the National Stock Exchange (NSE) declined around 2-4 per cent.
At the headline level, the S&P BSE Sensex crashed 1,247 points intra-day before ending at 58,841, down 1,093 points or 1.82 per cent. The NSE Nifty50, too, sunk to a low of 17,505 before shutting shop at 17,551, down 326 points or 1.82 per cent.
The broader markets witnessed an equally brutal on-slaught with the Nifty MidCap 100 and SmallCap 100 falling in the range of 2.5 per cent to 3 per cent. Volatility index — India VIX — surged 8 per cent today to settle near 20-odd level.
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Benchmark indices turned sharply lower in the last hour of trade as investors booked profits at higher levels. The S&P BSE Sensex, which had touched a high of 57,975, tanked 1,073 points to hit a low of 56,902. The index, however, closed at 57,061, down 460 points or 0.8 per cent.
On the NSE, the Nifty50 dropped 325 points from the day’s high of 17,378 to hit a low of 17,053. It ended at 17,102.5, down 142.5 points or 0.83 per cent.
Axis Bank was the biggest loser on the benchmark indices, down 6.5 per cent, as analysts do not expect valuation to catch up with peers in light of the NII undershoot, impending dilution to fund the Citi deal, and higher operating expenditure guidance.
Coal India, Adani Ports, Power Grid, Maruti Suzuki, Bajaj Auto, ONGC, Wipro, and Britannia Industries were the other laggards, down between 2.5 per cent and 4 per cent.
On the upside, HDFC Life, Tata Consumer Products, Kotak Bank, Sun Pharma, HDFC Bank, Tata Motors, Tata Steel, and Ultratech Cement were the only gainers.
In the broader markets, the MidCap and SmallCap indices slipped about 1 per cent each. Sectorally, all the indices ended the day in the red zone, dragged by Nifty Oil and Gas index, down 2.5 per cent.
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Indian equities rose in-line with global markets as they cheered progress on ceasefire negotiations between Russia and Ukraine. That apart, investors also welcomed a 25-bps rate hike by the US Federal Reserve, which was on expected lines.
The benchmark indices ended near the day’s high level at 57,864, up 1,047 points or 1.84 per cent. The Nifty50, meanwhile, zoomed 312 points or 1.84 per cent to settle at 17,287. Both the indices had hit an intra-day high of 58,096 and 17,345, respectively.
HDFC was the top index gainer today, rallying 5.4 per cent on the NSE. JSW Steel, Titan Company, SBI Life, RIL, Kotak Bank, Tata Consumer Products, Tata Steel, Nestle India, and Eicher Motors were the other notable gainers, up between 3 and 5 per cent.
Only four large-cap counters ended in the red, including Infosys, Cipla, Indian Oil, and HCL Tech. All these stocks dipped between 0.4 and 1 per cent.
In the broader market, the BSE MidCap and SmallCap indices added 1 per cent each.
For the week, the benchmark Sensex and Nifty indices climbed over 4 per cent while the BSE MidCap and SmallCap indices zoomed 2 per cent each.
Sectorally, the Nifty Realty index advanced over 3 per cent today, ending as the top sectoral gainer for a second straight day. The Nifty Financial Services, Bank, and Metal indices edged between 2 and 2.5 per cent higher.
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Market bulls reigned on the bourses for the sixth consecutive session on Thursday as strong Q2 show by Infosys and Wipro, along with hopes of a better-than-anticipated economic recovery, lifted sentiment. The benchmark BSE Sensex reached the 61,000-mark milestone for the first time while the Nifty50 index surpassed 18,300 today.
An across-the-board rally lifted the 30-share pack 569 points or 0.94 per cent on the bourses, helping the index to settle at 61,306 levels. The Nifty50, meanwhile, shut shop at 18,336 levels, up 174 points or 0.96 per cent. Both the indices hit fresh record peaks of 61,353 and 18,351 in the intra-day deals.
In the broader markets, the BSE MidCap index closed 0.54 per cent higher while the BSE SmallCap index added 0.46 per cent.
Overall, market breadth firmly favoured the bulls with 1,719 stocks advancing on the BSE compared with 1,637 stocks that declined. The BSE m-cap stood at Rs 272.8 trillion by close.
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Shares of Reliance Industries single-handedly knocked Sensex and Nifty lower on Friday after the Supreme Court ruled in favour of Amazon, stalling Reliance Retail’s Rs 24,000 crore deal with Future Retail. Further, while RBI’s policy decision was along expected lines, the 5:1 vote on maintaining accommodative stance and rise in CPI projection for FY22 to 5.7 per cent from 5.1 per cent earlier also concerned markets, indicating that debate on inflation is gaining centre stage.
The domestic benchmark indices snapped their 4-session winning run. The 30-pack Sensex closed the day at 54,278, down 215 points or 0.39 per cent. Meanwhile, NSE Nifty settled the day 56 points or 0.35 per cent at 16,238.
IndusInd Bank, Tech Mahindra, Bharti Airtel, Maruti were the top gainers in the 30-pack Sensex while Reliance Industries, Ultratech Cement, Tata Steel, HCL Tech were the top losers.
The broader markets outperformed, with Nifty Midcap index rising 0.06 per cent and Nifty Smallcap 0.04 per cent. Sectorally, Nifty Realty and Nifty Media were the top losers while Nifty IT was the best performer.
Overall, for the five days ended Friday, Nifty ended the historic week, up 1.97 per cent high, above 16,000 mark for the worst time and also snapped its two-week losing run.
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A healthy buying in auto, technology, and select bank stocks helped benchmark indices settle in the green on Friday.
The S&P BSE Sensex settled 127 points, or 0.31 per cent higher at 40,686 levels while NSE’s Nifty ended at 11,930, up 34 points, or 0.28 per cent. The volatility index, India Vix, slipped over 3.5 per cent to 21.82 levels.
On a weekly basis, Sensex gained 1.75 per cent while Nifty added 1.42 per cent.
Auto major Maruti (up over 4 per cent) ended as the biggest gainer on Sensex while UltraTech Cement (down over 2 per cent) was the top loser.
The broader market continued to outperform frontline indices. The S&P BSE MidCap index gained 0.59 per cent while the S&P BSE SmallCap index rallied 0.7 per cent to 15,135 levels.
Among sectoral indices, Nifty Auto gained nearly 3 per cent to 8,095 levels.
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Benchmark indices settled on a flat note tracking mixed cues from global peers after ECB unexpectedly reduced its monthly asset buys but pledged to keep its quantitative easing (QE) program beyond 2017, if needed. Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today’s session.
S&P BSE Sensex settled the day 53 points higher at 26,747 while Nifty50 gained 15 points to end at 8,262. In broader markets, BSE Midcap gained 0.21% while BSE small cap was up 0.52%.
Banking sector gained after RBI reversed its order forcing lenders to surrender all their extra cash and place it under the cash reserve ratio.
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Snapping previous session’s losses, the benchmark indices on Friday staged a smart recovery led by gains in IT and pharma stocks after the rupee on Thursday hit its all-time low against dollar. Positive global cues as dollar retreated from 14-year high mark also added to the gains.
The S&P BSE Sensex settled the day at 26,316, up 456 points, while the broader Nifty closed at 8,114, up 149 points. In broader markets, BSE Midcap was up 1.3% while smallcap ended 2% higher.
Export-driven businesses like information technology (IT) and pharmaceutical rallied on the index today after rupee touched its record low on Thursday. These stocks earn more revenues on rupee depreciation as every dollar earned through exports means more rupees added to their bottom line.
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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