Equity markets logged solid gains on Friday, the last trading day of the financial year 2022-23, as fears of contagion risk from the US banking crisis receded. Index heavyweights – Reliance Industries, ICICI Bank and Infosys accounted for almost 60 per cent of the gains on the BSE benchmark.
The S&P BSE Sensex rallied to a high of 59,068, before ending with a solid gain of 1,031 points at 58,992. In the process, the BSE 30-share index edged 0.1 per cent up for the month, and finished FY23 0.7 per cent higher.
The NSE Nifty 50 hit a high of 17,382, and settled 279 points higher at 17,360. The 50-share index advanced 0.3 per cent in March, but was down 0.6 per cent for the fiscal year 2022-23.
The broader indices also logged smart gains. The BSE Midcap index was up a per cent, while the Smallcap index vaulted 1.4 per cent. The overall breadth too was fairly positive, with two advancing shares for every declining stock on the BSE.
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Domestic equities’ losing run entered sixth straight session on Friday as growth concerns, amid fears of elevated interest rates, hurt sentiment. The S&P BSE Sensex fell 142 points, or 0.24 per cent, to close at 59,464, while the Nifty50 declined 45 points, or 0.26 per cent, to end at 17,466.
Adani Enterprises (down 5 per cent), Hindalco, JSW Steel, M&M, Tata Steel, SBI Life, L&T, Tata Motors, BPCL, HDFC Life, HDFC, and HDFC Bank were the top laggards. On the flipside, ONGC, Divis Labs, Asian Paints, Coal India, Adani Ports, Bajaj Auto, Power Grid, and NTPC eked out gains.
In the broader markets, the BSE MidCap index dipped 0.17 per cent, and the BSE SmallCap index eased 0.15 per cent. Sectorally, the Nifty Metal index plunged 3 per cent, followed by the Nifty PSU Bank index (down 0.8 per cent).
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A range-bound trade ended on a flat note on Friday as weak global cues amid escalating crisis in Ukraine weighed on investor sentiment. The S&P BSE Sensex, which hit a high of 59,591 in intra-day trade, settled at 59,307, up 104 points or 0.18 per cent.
The Nifty50, meanwhile, closed at 17,576, up 12 points or 0.07 per cent, after hitting a high of 17,670 during the day.
The gains in benchmark indices were led by Axis Bank (up 9.5 per cent), HUL, ICICI Bank, Kotak Bank, SBI Life, and Apollo Hospitals. On the downside, Bajaj Finserv (down 3.4 per cent), Bajaj Finance, Divis Labs, Adan Ports, UPL, Asian Paints, and L&T capped upside.
In the broader markets, the BSE MidCap and SmallCap indices dipped 0.75 per cent and 0.6 per cent, respectively. Sectorally, The Nifty PSU Bank and Private Bank indices gained the most, up 1.8 per cent and 1.6 per cent, respectively, while the Nifty Pharma index fell 0.8 per cent.
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Equity markets rose for a second consecutive day on Friday, propelled by across-the-board buying. The S&P BSE Sensex hit a high of 54,937 intra-day, before ending at 54,885, up 632 points or 1.17 per cent.
The NSE Nifty, on the other hand, settled the day at 16,352, up 182 points or 1.13 per cent. The index hit a high of 16,371 earlier today. In the broader markets, the Nifty MidCap100 index and the Nifty SmallCap100 indices rose 1.4 per cent each.
Apollo Hospitals, Tech M, HDFC Life, Hero MotoCorp, IndusInd Bank, Bajaj Finance, Wipro, Infosys, L&T, HUL, and Bajaj Finserv zoomed over 2.5 per cent on the Nifty. Dr Lal Path Labs, Whirlpool of India, IndiaMART InterMESH, Page Industries, Route Mobile, Balrampur Chini, and Sonata Software, on the other hand, surged up to 9.5 per cent in the broader market.
Sectorally, the Nifty IT index was the lead gainer, up 2.54 per cent, on the National Stock Exchange (NSE). The only loser was the Nifty Metal index, down 0.06 per cent.
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Benchmark indices, which seemed to be recovering from morning losses, lost ground yet again in the fag-end of the session as investors dumped stocks across the board. Sentiment remained tepid throughout the day after Federal Reserve Chair Jerome Powell said overnight that a half-percentage point rate hike is “on the table” for next month.
While Bank, Financial Services, Pharma, and Metal indices were the worst hit (down around 2 per cent each), Auto, FMCG, and IT indices were the least hit sectors, down 0.6 per cent each.
Overall, the S&P BSE Sensex index shed 714.5 points to end at 57,197, and the Nifty50 index tumbled 221 points to shut shop at 17,172. Both the indices hit intra-day lows of 57,135 and 17,149, respectively.
In the broader markets, the BSE MidCap index and Smallcap index slipped 0.7 per cent and 0.4 per cent, respectively.
Meanwhile, in the money market, 10-year government bond yield hardened by 0.46 percent to hit 7.17 per cent-mark in India. Globally, the 5-year US Treasury yield topped the 3 per cent-mark in early deals.
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Bear-hammering continued on Dalal Street for a third straight day on Wednesday as profit booking in banks and financial stocks weighed on the sentiment. The S&P BSE Sensex closed at 58,339 levels today, down 237 points or 0.4 per cent, while the NSE Nifty shut shop at 17,476, down 55 points or 0.31 per cent. In the intra-day deals, the benchmark indices had hit lows of 58,291 and 17,457 levels, respectively.
HDFC, HDFC Bank, Maruti Suzuki, Dr. Reddy’s Labs, Tata Motors, PowerGrid, Asian Paints, Bajaj Finserv, Kotak Bank, Titan, Cipla, and Eicher Motors were the top laggards on the Nifty index today, down between 1 and 2 per cent. On the upside, ONGC, Apollo Hospitals, Sun Pharma, ITC, UPL, JSW Steel, and Shree Cement added in the range of 1 to 3 per cent.
Meanwhile, in the broader market, the BSE MidCap index slipped 0.21 per cent but the BSE SmallCap index added 0.27 per cent.
Among sectors, the Nifty Private Bank index was the worst hit as it dipped 1 per cent. On the upside, the Nifty Metal index gained the most, rising 0.57 per cent.
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Indian benchmarks cracked in line with global peers, falling 1.3 per cent on Friday, as multi-decade high inflation in the US jolted investor confidence who feared bulkier rate hikes by the world’s biggest economy.
The S&P BSE Sensex plunged 773 points to end at 58,153 and the Nifty50 closed slumped 231 points to close at 17,375. With this, the indices halted their three-day winning streak, slipping 0.8 per cent for the week.
In the broader markets, the BSE MidCap and SmallCap indices shed about 2 per cent each, clocking weekly losses of up to 3.4 per cent.
Given the situation of rate hike in the US, all the sectoral indices settled in the negative territory today with technology and public sector banks being the worst hit. The IT and PSB indices dropped nearly 3 per cent and 2 per cent, respectively, while Bank, Financial Services, and Realty indices slipped upwards of 1 per cent on the NSE.
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The RBI’s seemingly dovish policy, with repo and reverse repo rates unchanged at 4 per cent and 3.35 per cent, respectively, bolstered bull sentiment on Dalal Street on Friday. The central bank also retained the GDP growth forecast at 9.5 per cent for the on-going fiscal year and revised CPI inflation projection downward to 5.3 per cent for the whole fiscal (from 5.7 per cent) which further supported the sentiment.
Overall, the frontline S&P BSE Sensex closed the session at 60,059 levels, up 381 points, while the Nifty50 ended at 17,895 levels, up 105 points.
Reliance Industries, which hit a record high of Rs 2,684 apiece in the intra-day trade, settled nearly 4 per cent higher and contributed nearly 2/3rd towards Sensex’s gains today. Other contributors included Infosys, TCS, L&T, HCL Tech, and ICICI Bank.
In the broader markets, the BSE MidCap index ended 0.15 per cent higher and the BSE SmallCap index added 0.92 per cent. Both the indices hit a record high of 25,956 and 29,358, respectively, earlier today.
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Indian equities logged gains for second straight day as positive global cues supported investment sentiment. No further rhetoric between the United States and Iran, and British Parliament’s vote to finalise Brexit divorce deal by January 31 gave boost to investment sentiment.
Indices further charged ahead and scaled intra-day high after news agency Reuters reported that US President Donald Trump could sign the Phase-1 of trade deal next week. The S&P BSE Sensex hit a high of 41,775.11 (up 322.76 points) in the intra-day deals, while NIfty50 touched 12,311.20 — also its fresh lifetime high.
At close, the Sensex was at 41,599.72 level, up 147.37 points or 0.36 per cent with ICICI Bank, IndusInd Bank, Axis Bank, and Titan being top laggards. On the other hand, Infosys, Sun Pharma and Ultra Tech Cement settled as the top gainers.
The broader Nifty50 index, on the other hand, was 40.60 points, or 0.33 per cent, higher at 12,256.50-mark at close.
Sectorally, Nifty Private Bank and Nifty Bank indices were the only indices that closed in the red, down 0.22 and 0.02 per cent, respectively. Nifty Realty and Metal indices, however, added 1.80 and 1.10 per cent, respectively by close.
In the broader market, the S&P BSE mid-cap index gained 0.4 per cent to close at 15,157.77, while the S&P BSE small-cap index advanced 0.45 per cent to end at 14,153.18.
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Heavy buying in financials, autos, metals and pharma counters and positive global cues lifted the equity markets on Friday.
The S&P BSE Sensex added 196 points or 0.55 per cent to settle at 36,064, while the NSE’s Nifty50 index closed at 10,863.50, up 71 points or 0.66 per cent.
On a weekly basis, the 30-share index Sensex rose 0.53 per cent while Nifty gained 0.66 per cent.
Among individual stocks, shares of SBI Life Insurance climbed 5.47 per cent to Rs 612.25 on the BSE after CA Emerald Investments (“Emerald”) acquired 9 per cent stake in the company through open market on Friday. The stock made a sharp rebound after falling over 12 per cent in the early trade.
Shares of SML Isuzu were locked in upper circuit of 20 per cent at Rs 682 on the BSE after the company reported strong 33 per cent year-on-year (YoY) growth in total sales at 1,282 units in February.
On the contrary, Bharti Airtel ended over 3 per cent lower at Rs 307.75 apiece on BSE after the company said its board of directors approved a fund raising plan of up to Rs 32,000 crore through a mix of rights issue and bond.
Sectorally, all the indices ended in the green, with media stocks advancing the most, followed by PSU banks and metals. The Nifty PSU Bank index ended over 2.50 per cent higher at 2,832 levels with all the 12 constituents ending in the positive territory.
In the broader market, S&P BSE MidCap index gained 184 points or over 1 per cent to settle at 14,503 while S&P BSE SmallCap surged over 2 per cent to end at 13,982.
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