Benchmark indices surged in the last hour of Friday’s trading session after trading in a range-bound manner for a major part of the day.
The S&P BSE Sensex added 239 points or 0.8 per cent to 37,380 levels. Hero MotoCorp, ICICI Bank, Kotak Mahindra Bank, Maruti Suzuki India, and HCL Tech were the top gainers in the Sensex pack. The broader Nifty50 hovered around 11,080 levels, up 100 points, or 0.9 per cent.
The Nifty sectoral indices, except three, were trading in the green. While Nifty Realty index rose the highest 1.6 per cent, Nifty Auto index also gained 0.9 per cent. On the other hand, Nifty Pharma index was the top loser, down 0.9 per cent.
In the broader market, the S&P BSE MidCap index was trading flat at 13,610 levels. Meanwhile, the S&P BSE SmallCap index surged 64 points, or 0.5 per cent, to 12,970 levels.
Shares of banks and non-banking financial companies (NBFCs) dropped up to 5 per cent in the morning deals on Friday, a day after Altico Capital India, a lender to real estate companies, said it has defaulted on interest payments to Mashreq Bank of Dubai. An interest payment of Rs 19.97 crore was due on September 12, according to a regulatory filing with the BSE. This payment is now in default. The principal amount for the external commercial borrowing on which Altico Capital has defaulted stands at Rs 340 crore, the filing said.
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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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A sudden surge in the benchmark indices, lifted by gains in financials and metals, took Sensex nearly 300 points higher and Nifty beyond the 11,700 mark after a range bound morning trade.
At 2:10 PM, Sensex was trading at 38,980, up 250 points, or 0.64 per cent, with TATA Steel, Axis Bank, ICICI Bank, TCS and State Bank of India being among the top gainers. Nifty broke past the crucial 11,700 mark to trade 80 points, or 0.69 per cent, higher at 11,722.
Most of the sectoral indices on Nifty were trading in green, with Nifty Metal the top gainer at 1.63 per cent higher while Nifty Bank too was up over 1 per cent.
In broader markets, S&P BSE MidCap had slid 0.42 per cent, or 63 points, to trade at 15,067 while S&P BSE SmallCap was down 20 points, or 0.14 per cent, at 14,818.
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Selling in banks, realty and metal counters dragged the domestic equity market lower on Thursday. The headline index, S&P BSE Sensex lost 135 points or 0.34 per cent to settle at 39,140, with YES Bank being the biggest loser and Reliance Industries (RIL) the top gainer.
Out of 30 components, 22 scrips ended in the red and rest eight in the green.
Market breadth remained in favour of declines as out of 2,727 securities traded on BSE, 1,671 declined and 888 advanced while 168 scrips remained unchanged.
The broader Nifty50 index of the National Stock Exchange (NSE) lost 34 points or 0.29 per cent to end at 11,753.
On a weekly basis, both the indices gained around 1 per cent.
In the broader market, the S&P BSE Midcap index slipped 138 points or nearly 1 0.89 per cent to close at 15,382.57 while the S&P BSE Smallcap index ended at 15,021, down around 150 points or 1 per cent.
All the sectoral indices ended in the negative territory with realty stocks taking the hardest knock, followed by media and PSU banks.
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The benchmark indices settled over 0.5 per cent higher on Friday after Finance Minister Piyush Goyal announced a string of populist measures in his Interim Budget 2019 speech in the Parliament.
The S&P BSE Sensex ended at 36,469, up 213 points or 0.59 per cent, while the broader Nifty50 index settled at 10,894, up 63 points or 0.58 per cent.
In the broader market, the S&P BSE MidCap index ended at 14,641, up 81 points or 0.56 per cent, while the S&P BSE SmallCap settled at 13,950, up 24 points or 0.17 per cent.
Among sectors, the Nifty Auto index was the top gainer of the day, rising 2.71 per cent led by Hero MotoCorp and Maruti Suzuki. The Nifty IT index too rose 1.45 per cent led by HCL Technologies and Tech Mahindra.
In a major relief to the middle-class taxpayer, Finance Minister Piyush Goyal, in his Interim Budget 2019 speech announced that those earning up to Rs 5 lakh a year would not have to pay any tax. He also said that those with an annual income of up to Rs 6.5 lakh would not have to file income-tax returns.
Goyal also announced PM Kisan Samadhan Nidhi scheme in which, farmers owning up to 2 hectares of land will get Rs 6,000 per annum, which will be completely funded by the central government. This scheme is likely to benefit 12 crore small and marginal farmers, at an estimated cost of Rs. 75,000 crore, he said. Apart from this, he also said that the government has set aside Rs 60,000 crore for MGNREGA this year, and allocated Rs 19,000 crore for Pradhan Mantri Gram Sadak Yojana.
The finance minister also said that the country’s defence budget for FY20 has been increased to Rs 3 lakh crore.
The government allocated Rs 64,587 crore for railways in FY20, Goyal said adding that the railway operating ratio was seen 96.2 per cent in FY19 vs 95 per cent in FY20.
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After witnessing a rangebound session throughout the day, the domestic equity market ended with marginal gains on Friday, led by buying in telecom, IT and energy stocks. The S&P BSE Sensex added 33 points or 0.1 per cent to settle at 35,963, with Bharti Airtel (up 5 per cent) being the top gainer and HDFC (down nearly 2 per cent) the worst laggard. The broader Nifty50 index of National Stock Exchange (NSE) closed the day at 10,805, up 14 points or 0.13 per cent. Out of 50 constituents, 29 ended in the green while 21 in the red.
A total of 2,704 companies traded on BSE, out of which 1,260 advanced and 1,300 declined while 144 stocks remained unchanged.
Among the sectoral indices, the Nifty Pharma index is trading around 0.5 per cent lower weighed by Aurobindo Pharma and Divi’s Laboratories.
The broader market indices are moving in line with benchmarks. S&P BSE Midcap index is trading 0.16 per cent lower at 15,139 levels, while S&P BSE SmallCap is ruling 0.1 per cent lower at 14,483 levels.
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Benchmark indices Sensex and Nifty ended over 1 per cent lower on Friday, dragged by fall in blue-chip companies such as Reliance Industries (RIL), Infosys and YES Bank amid muted global cues. The S&P BSE Sensex ended 464 points or 1.33 per cent down at 34,316 while NSE’s Nifty50 index settled at 10,303.55, down 150 points or 1.43 per cent.
Among individual stocks, RIL dipped as much 7% to Rs 1,073 on the BSE in the intra-day trade after a mixed bag results for the quarter ended September 2018 (Q2FY19) with its retail and digital services (telecom; Jio) businesses continuing to post strong growth, while its core refining business performance was a bit disappointing amid high expectations. The stock ended at Rs 1,102 apiece on BSE, down 4 per cent.
YES Bank also dropped as much as 8 per cent in the intra-day trade on Friday after the Reserve Bank of India (RBI) on Wednesday once again rejected the lender’s request for extending the term of MD & CEO Rana Kapoor, and reaffirmed the February deadline for finding his successor. Shares of the lender ended at Rs 218, down 6 per cent.
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The benchmark indices ended marginally lower on Friday, weighed down by automobile and information (IT) stocks. The S&P BSE Sensex ended at 36,227, down 97 points, while the broader Nifty50 index settled at 10,930, down 47 points.
In sectoral indices, the Nifty IT index settled 1.1 per cent lower due to a fall in the shares of Infibeam Avenues which crashed 71 per cent to end at Rs 57.90. The Nifty Auto Index, too, fell 2.3 per cent driven by fall in Hero MotoCorp, Apollo Tyres and Mahindra & Mahindra.
Among individual stocks, YES Bank stock fell 9.5 per cent to Rs 183.90 on the BSE. The stock had hit an intraday low of Rs 166.15.
In broader markets, the shares of midcap and smallcap companies continued to remain under pressure on Friday as well, with the S&P BSE Midcap (14,762) and the S&P BSE Smallcap (14,643) indices hitting their respective 52-week lows in intra-day trade on the BSE.
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The S&P BSE Sensex partially recovered after crashing over 1,400 points in from the day’s high to settle 280 points lower at 36,842 on Friday.
The Nifty 50 index hit a low of 10,866 levels, but settled 91 points lower at 11,143.
The decline came on the back of a sharp fall in NBFC stocks. DHFL skidded over 50% in intraday trade on fears of a liquidity crisis. The management, however, assuaged investor concerns and said the company has not defaulted on any repayments. The stock settled nearly 45 per cent lower at Rs 337.80 on the BSE. According to the analysts, the IL&FS crisis was the main reason behind the selloff. That apart, a rise in bond yields also weighed on the sentiment.
In the broader markets, the S&P BSE SmallCap index fell 3 per cent to 15,763 levels, while the S&P BSE MidCap index lost 1.7 per cent to end at 15,596 levels.
NSE’s Volatility Index (India VIX), or the fear gauge, rose by over 11%
YES Bank fell 34 per cent in intra-day trade after the Reserve Bank of India (RBI) trimmed Rana Kapoor’s tenure as its MD & CEO. The private sector lender said on Wednesday that the Reserve Bank of India (RBI) had allowed Kapoor to continue only till January 31. According to sources, the RBI has cited corporate governance and regulatory issues for not extending Kapoor’s term. Further, the lender has been directed to search for a successor.
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The benchmark indices ended higher on Friday aided by strong gains in automobiles and metal stocks after the rupee firmed against US dollar. The S&P BSE Sensex ended at 38,390, up 147 points while the broader Nifty50 index settled at 11,589, up 52 points.
Among the sectoral indices, the Nifty Auto index settled 2.2 per cent higher led by a rise in the share prices of Hero MotoCorp, Bajaj Auto, Mahindra and Mahindra, and Tata Motors. Nifty Metal index, too, rose 1.9 per cent led by MOIL and Jindal Steel & Power.
The rupee was trading higher by 24 paise to 71.75 against the US currency in late morning deals on Friday due to sustained bouts of dollar selling from banks and exporters. Earlier, the rupee resumed slightly higher at 71.95 against yesterday’s closing level of 71.99 a dollar at the interbank foreign exchange market here.
Shares of YES Bank hit an over four-month low of Rs 322 per share, down 5% on the BSE on the back of heavy volumes. The stock was the largest loser among the S&P BSE Sensex and Nifty 50 index.
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