The key benchmark indices wilted under the selling pressure on Friday amid fears of higher interest rates globally. Banks and realty stocks bore brunt of the selling pressure, as the Sensex and Nifty snapped their three-day winning run.
The S&P BSE Sensex started the day with a negative gap of over 300 points at 60,994; the index did recoup losses but could only manage to touch a high of 61,303. A fresh round of selling in noon deals, saw the BSE benchmark slide to a low of 60,811 – down 509 points from the previous day’s close.
Some buying in late trades helped the Sensex trim losses and end at 61,003, down 317 points.
The Nifty 50 registered a low at 17,885, before settling 92 points lower at 17,944.
A vast majority of the Nifty 50 stocks ended in red today. Adani Enterprises was the top loser, down over 4 per cent. Nestle, IndusInd Bank, SBI Life, HDFC Life and Mahindra & Mahindra were the other major losers. On the other hand, Larsen & Toubro gained over 2 per cent. UltraTech Cement, BPCL, Hero MotoCorp and Asian Paints were the other major losers.
Continue Reading →
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.
Continue Reading →
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.
Continue Reading →
Benchmark indices traded within a narrow range on Friday seeking support from firm global cues. The S&P BSE Sensex closed 462 points, or 0.88 per cent, higher at 52,728. The Nifty50, meanwhile, ended at 15,699, up 143 points or 0.92 per cent.
Auto, banking, and FMCG stocks took the centre stage today as easing commodity prices eased input cost and credit off-take pressures. M&M, IndusInd Bank, Bajaj Finance, Hero MotoCorp, HUL, ICICI Bank, Britannia Industries, ONGC, Shree Cement, JSW Steel, Eicher Motors, Tata Consumer Products, Hindalco, and HDFC Bank rose between 1.5 per cent and 4.4 per cent to settle as top Nifty gainers.
On the downside, Tech M, Infosys, Apollo Hospitals, TCS, NTPC, HCL Tech, and Coal India ended as top laggards.
Meanwhile, in the broader market, the Nifty MidCap and SmallCap indices advanced 1.4 per cent and 1.76 per cent, respectively.
Continue Reading →
The S&P BSE Sensex exhibited wild swings in trade on Friday as investors remained worried about global growth outlook. The 30-pack index gyrated in a range of 732 points intra-day, and settled 135 points, or 0.26 per cent, lower at 51,360.
The NSE Nifty50, meanwhile, closed at 15,294, down 67 points or 0.44 per cent. Bajaj twins, Coal India, JSW Steel, Apollo Hospitals, ITC, ICICI Bank, RIL, and HDFC Bank were the top Nifty gainers, rising between 0.8 per cent and 3 per cent.
On the flipside, Titan Company, Wipro, HDFC Life, Shree Cement, BPCL, Dr Reddy’s Labs, and Asian Paints were the top drags, down up to 6 per cent.
Sectorally, the Nifty Pharma index was worst hit, down over 2 per cent on the NSE, while the Nifty Bank added the most, up 0.75 per cent.
In the broader markets, the BSE MidCap and SmallCap indices underperformed the benchmarks and slipped up to 0.9 per cent.
Continue Reading →
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.
Continue Reading →
The key benchmark indices ended with significant losses amid a global market rout as record high inflation fueled fears of a faster rate hike, threatening the world economies.
The S&P BSE Sensex tumbled to a low of 54,587, and finally settled 867 points lower at 54,835. In the process, the BSE index was down 3.9 per cent (2,226 points) for the week. Similarly, the NSE Nifty plunged 272 points to 16,411, ending the week with a huge loss of 4 per cent.
Financial and IT shares bore the brunt of the selling pressure. Bajaj Finance slumped 4.8 per cent, while Bajaj Finserv tanked 3.5 per cent. Axis Bank shed 4 per cent. Nestle India too declined over 3 per cent.
Wipro, HDFC, Infosys, HDFC Bank, UltraTech Cement, Titan, TCS, IndusInd Bank and Asian Paints were the other major losers. Reliance Industries was down 0.6 per cent ahead of its Q4 numbers.
On the positive front, Tech Mahindra and PowerGrid Corporation rallied over 2 per cent each. ITC, SBI and NTPC were the other notable gainers.
The broader markets also ended with steep losses. The BSE Midcap and Smallcap indices were down over 2 per cent each. The overall breadth too was fairly bearish, with more than 2,500 declining stocks versus 850 advancing shares on the BSE.
Sectorally, the BSE metal and realty indices slumped over 3 per cent each. The IT and Consumer Durables indices were the other major losers, down over 2 per cent each. The Auto, Bankex and Healthcare indices declined 1.7 per cent each.
Continue Reading →
Benchmark indices bucked the weak Asian trend and rose on Friday as the Assembly elections’ euphoria extended into a second day. However, developments around the Ukrainian war, commodity prices, and the US inflation data kept the markets volatile through the day.
The S&P BSE Sensex hit a high of 55,834 in early deals but eased off to end at 55,550, up 86 points or 0.15 per cent. The Nifty50, on the other hand, settled at 16,630, up 35 points or 0.2 per cent.
The breadth was well-balanced as equal number of stocks advanced and declined on both the frontline indices. The gainers included Cipla, Sun Pharma, BPCL, JSW Steel, Dr Reddy’s Labs, IOC, Power Grid, Coal India, and ITC, while the losers were Nestle India, Maruti Suzuki, Tata Consumer Products, Tata Steel, Britannia, Axis Bank, Hindalco, NTPC, Eicher Motors, and TCS.
In the broader markets, the Midcap index (up 0.45 per cent) and the Smallcap index (up 0.87 per cent) on the BSE outperformed the benchmarks.
Sectorally, the Nifty Pharma index was the best performing index, rising 2.5 per cent on the NSE. The Nifty Auto index, on the other hand, slipped 0.4 per cent.
Continue Reading →
Benchmark indices oscillated between gains and losses on Friday as concerns over the second wave of Covid-19 in the country and nervousness in the global markets overpowered the risk appetite of bargain hunters.
After starting gap-down, the benchmark S&P BSE Sensex recouped all the losses and jumped nearly 200 points to hit a high of 48,265 in the intra-day deals. However, bears roared back on Street and sent the index down 600 points from the day’s high to a low of 47,669. It eventually nursed losses of 202 points, or 0.42 per cent, to end the day at 47,878.45 levels.
On the NSE, the broader Nifty50 closed at 14,341 levels, down 65 points or 0.45 per cent. The index hit a high and low of 14,461 and 14,273 in the intra-day deals.
Over 30 constituents in the Nifty ended the session in the red including Britannia (down 2.6 per cent), Dr Reddy’s Labs, M&M, Wipro, Grasim, Hindalco, and Tech Mahindra. On the Sensex, HUL, ICICI Bank, Bharti Airtel, and Infosys closed as top laggards.
On the upside, NTPC (up 4 per cent), Power Grid, HDFC Life, SBI Life, BPCL, Coal India, and HDFC outperformed the benchmark indices.
The overall market breadth remained in the favour of the bulls, courtesy rally in the broader markets. The S&P BSE MidCap index gained 0.2 per cent today while the S&P BSE SmallCap index added 0.5 per cent riding on the back of gains in Confidence Petroleum India, HFCL, MTNL, Panacea Biotech, Indian Bank, Indian Hotel, Muthoot Finance, and Varroc Engineering.
The overall advances on the BSE were 1,566 while 1,357 were the declines. About 170 counters remained unchanged.
Continue Reading →
The domestic stock market regained some lost ground on Friday, a day after benchmark indices tumbled around 2.5 per cent. The S&P BSE Sensex ended 255 points, or 0.64 per cent higher at 39,983 levels, thanks to healthy buying in the financial counters. NSE’s Nifty ended at 11,762 levels, up 82 points, or 0.7 per cent. India VIX declined nearly 2 per cent to 21.64 levels.
In the broader market, the S&P BSE MidCap index gained 1 per cent to 14,621 points while the S&P BSE SmallCap index settled nearly 1 per cent higher at 14,787 levels.
Shares of IDBI Bank surged 18% on government stake sale plan report. The government currently owns a 47.11 per cent stake in IDBI Bank. In January 2019, Life Insurance Corporation (LIC) completed the acquisition of 51 per cent controlling stake in the lender. The state-owned life insurer infused Rs. 21,624 crore into the bank.
Shares of steel companies were in demand on Friday, rallying by up to 6 per cent on the BSE on the expectation of demand recovery. JSW Steel advanced 6 per cent to Rs 308, hitting a fresh 52-week high on the BSE. The stock surpassed its previous high of Rs 298 touched on October 9, 2020. Tata Steel, Jindal Steel and Power and Steel Authority of India (SAIL), on the other hand, were up 3 per cent to 6 per cent on the BSE.
Continue Reading →
