The Sensex and Nifty ended higher for the second straight trading session on Friday backed by renewed buying interest in IT and banking stocks. Realty shares too logged strong gains, while auto and pharma shares signed-off on a weak note.
The S&P BSE Sensex gyrated in a range of 675 points; the index from a high of 58,179 slipped into red to a low of 57,504. The BSE benchmark finally ended 355 points higher at 57,990.
The NSE Nifty 50 advanced 114 points as it reclaimed the 17,100 level.
The broader markets also finished with gains. The BSE Midcap index advanced 0.3 per cent, and the Smallcap index added 0.7 per cent.
Sectorally, the BSE Realty index soared 3.2 per cent and was the top gainer. The Metal index surged 2.4 per cent. The Bankex and IT index gained over a per cent each
Continue Reading →
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).
Continue Reading →
Indian equities rose in tandem with global peers after the release of US inflation data in October raised investor hopes that inflation has peaked. Barring minor downtick in the Nifty Auto, FMCG, and PSU Bank indices, all other sectoral indices advanced on the bourses. The Nifty IT index led from the front with around 4 per cent surge.
Meanwhile, HDFC twins, information technology (IT), and other heavyweighs including Reliance Industries, Tata Steel, L&T, and Bajaj twins propelled the S&P BSE Sensex to a fresh 52-week high of 61,841, while the Nifty50 touched 18,362.
The indices, eventually, ended at 61,795, and 18,350 levels, up 1,181 points and 322 points, respectively.
In the broader markets, the BSE MidCap, and the BSE SmallCap indices added 0.15 per cent, and 0.33 per cent, respectively, as against the frontline indices’ 2-per cent gain.
Continue Reading →
Equity markets were volatile on Friday, swinging rapidly during the day, as every bargain buying witnessed selling pressure on the top. The S&P BSE Sensex hit a high of 58,269, and a low of 57,851 during the day before closing at 58,191. It slipped 31 points, or 0.05 percent, compared to Thursday’s close.
The NSE Nifty50, on the other hand, shut shop at 17,315, down 17 points or 0.1 percent. The benchmark indices were weighed down by energy, IT, FMCG, and financial stocks with Tata Consumer Products, M&M, Coal India, BPCL, SBI, TCS, JSW Steel, Adani Ports, HCL Tech, and ITC being the top laggards. On the upside, Titan Company, IndusInd Bank, PowerGrid, Grasim, and Maruti Suzuki trimmed losses, rising over 1 percent each.
In the broader markets, the BSE MidCap index fell 0.15 percent, while the BSE SmallCap index added 0.3 percent.
The rupee weakened to a new low against the US dollar on Friday as Federal Reserve officials in the US outlined a large quantum of rate hikes going ahead, leading to a stronger greenback globally. The rupee, which weakened past the 82 per dollar mark for the first time, hit a low of 82.42 per dollar during the day. Its previous low was 81.95 per dollar. Meanwhile, yields on 10-year government bonds were back above 7.5 percent during the day.
IPO Market was buzzing with the three-day issue of Electronics Mart India, the consumer durables company was subscribed 62 times till 3:30 PM. The QIB portion subscribed at 138 times, NII at 60.4 times, and Retail at 19 times.
Continue Reading →
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.
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 succumbed to profit booking, even as healthy buying continued in the broader market space, after the Reserve Bank of India (RBI) kept repo rate unchanged for the sixth consecutive time at 4 per cent and maintained the policy stance as Accommodative.
The six-member monetary policy committee (MPC), however, revised the growth projection downward to 9.5 per cent from 10.5 per cent for the current financial year and revised the inflation projection upward to 5.1 per cent.
Furthermore, it announced the third tranche of bond buying worth Rs 40,000 crore under G-SAP 1.0. It also announced G-SAP 2.0, under which it will buy bonds worth Rs 1.2 trillion. The central bank will also buy bonds issued by state governments, unlike G-SAP 1.0 that was only for central government securities.
Post the announcement, 10-year government bond yields hardened by 0.4 per cent to top 6 per cent-mark while the equity markets gave up their gains.
The benchmark S&P BSE Sensex tumbled 436 points from the day’s high and hit a low of 51,953. It, however, trimmed losses marginally to settle the day at 52,100 levels, down 132 points or 0.25 per cent.
On the NSE, the Nifty50 index dropped 64 points from the record high level of 15,734, touched earlier in the day, to close at 15,670 levels.
The benchmark indices were dragged down largely by banking and FMCG counters such as Nestle India, SBI, ICICI Bank, HDFC Bank, HUL, Axis Bank, and Titan.
Overall, the Nifty Bank index ended 1 per cent lower, followed by the Nifty Private Bank and FMCG indices, down 0.8 per cent and 0.4 per cent, respectively. On the upside, the Nifty Metal and Realty indices clocked gains up to 1.3 per cent.
That said, market participants continued to buy stocks in the broader markets after the RBI announced a special, Rs 15,000 crore-liquidity window for sectors like travel and toursim, tour operators, hotels, restaurants, aviation and related companies, spa clinics and beauty parlours.
The BSE MidCap index advanced 0.63 per cent while the BSE SmallCap index added 0.78 per cent. Both the indices hit record peak levels of 22,540 and 24,280, respectively in intra-day trade.
Continue Reading →
A tug of war between bulls and bears was ultimately won by the bulls on Thursday, the day of the expiry of the weekly F&O contracts. That apart, buoyancy in the global markets on the back of a $2 trillion US government spending plan, and record GST collection for the month of March back home gave the requisite armour to investors.
Among the frontline indices, the benchmark S&P BSE Sensex reclaimed the 50,000-mark on a closing basis and closed at 50,030, after advancing 521 points or 1.05 per cent. Earlier in the day, the index had briefly slipped in the red to touch a low of 49,478.5. On the NSE, the Nifty50 index closed at 14,867 levels, up 177 points or 1.2 per cent.
The index breadth remained firmly in the favour of the bulls as 25 of the 30 constituents on the Sensex and 41 of the 50 constituents on the Nifty settled the session in the green. IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Bajaj Finance, Sun Pharma, Axis Bank, and UltraTech Cement outperformed the Sensex today, up between 2 per cent and 4 per cent. JSW Steel, Hindalco, Adani Ports, Tata Steel, and Hero MotoCorp were the additional gainers on the Nifty, rallying up to 8 per cent.
On the downside, HUL, Nestle India, TCS, Divis Labs, HDFC Life, TCS, and Titan ended lower between 0.32 per cent and 1.3 per cent.
Taking into consideration the BSE MidCap and SmallCap indices’ 1.66 per cent and 2 per cent gains, respectively, the overall market breadth was in the ratio of 1:3 in the favour of advances.
As regards sectoral performance, the Nifty Metal index settled over 5 per cent higher on the NSE today, followed by the Nifty PSU bank index, up 2.6 per cent. The Nifty Bank, Auto, Financial Services, Private Bank, and Pharma indices, meanwhile, gained up to 2 per cent. The Nifty IT and Realty indices closed with less than a per cent gain.
Continue Reading →
Images on investors’ trading screens turned around 180 degrees by the end of the session on Friday as bulls fought back to lift indices over a per cent higher. A drop in the US Treasury yield and a GDP growth upgrade by Moody’s for India helped the markets snap 5-day losing streak.
Tracking sluggishness in the global markets, the domestic equity markets opened in a sea of red with the frontline indices dropping over a per cent. The dip was, however, quickly bought-into, pushing markets in the positive territory in less than 120 minutes into the trade.
Mood in the global markets changed after the US Treasury yields slipped to 1.5 per cent from Thursday’s high of 1.74 pe cent. Back home, Moody’s Analytics said India’s economy is likely to grow by 12 per cent in CY2021 following a 7.1 per cent contraction last year as near-term prospects have turned more favourable.
Consequently, bulls reigned on Dalal Street for the first time in six days riding on the back of FMCG and metal counters. Both, the Nifty FMCG and Metal indices, ended over 2 per cent higher each, followed by gains in the Nifty Pharma and PSU Bank indices, up over 1 per cent. Other indices settled with less than a per cent gains, while the Nifty Realty index ended in the red, down 0.7 per cent.
Among the key headline indices, the 50-share barometer on the NSE closed above the 14,700-mark at 14,744 levels, up 186 points or 1.28 per cent. The 30-share benchmark Sensex, on the other hand, advanced 642 points, or 1.3 per cent, to end at 49,858 levels. In the intra-day deals, the Sensex and the Nifty touched 50,003 and 14,788, respectively jumping 1,416 and 350 points from day’s low.
Individually, HUL, Power Grid, JSW Steel, Tata Steel, NTPC, UPL, Reliance Industries, Divis Labs, Gail, and UltraTech Cement were the top gainers on the Nifty, while L&T, Coal India, Tech M, Bajaj Auto, Titan, and ONGC ended as the top laggards.
In the broader markets, the S&P BSE MidCap and SmallCap indices closed 1.35 per cent and 0.4 per cent higher, respectively.
Continue Reading →
The domestic equity market ended in the red on Friday amid weak global cues. The decision of Franklin Templeton Mutual Fund (MF) yesterday to wind up six of its debt schemes also eroded sentiment.
The Association of Mutual Funds of India (AMFI) assured investors that majority of Fixed Income Mutual Funds AUM is invested in superior credit quality securities and schemes have appropriate liquidity to ensure normal operations and hence, investors should remain invested in Mutual Funds to create wealth over the long term.
The S&P BSE Sensex ended 536 points or 1.7 per cent lower at 31,327.22 levels while the NSE’s Nifty ended at 9,154.40, down 159.5 points or 1.7 per cent.
Among individual stocks, Bajaj Finance (down 9 per cent) and IndusInd Bank (down over 6.5 per cent) were the top Sensex laggards. HDFC slipped 5 per cent and HDFC Bank ended nearly 2 per cent lower. On the other hand, Reliance Industries (up over 3 per cent) was the lead gainer.
Secorally, barring Nifty Pharma, all the other indices on the NSE ended in the red. Nifty Bank slipped 3.36 per cent to 19,587 levels while Nifty PSU Bank index declined around 4 per cent to 1,263. Nifty Financial Services index declined nearly 4 per cent to 9,432 levels.
In the broader market, the S&P BSE MidCap index fell 1.77 per cent to 11,464 while the S&P BSE SmallCap index ended at 10,634, down 151.5 points or 1.4 per cent.
Continue Reading →
