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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Domestic indices ended marginally higher on Friday amid consolidatory mood and mixed global cues.
After starting gap-up, the BSE Sensex index marched ahead to hit a high of 60,130-mark intra-day. However, selling in select heavyweights like Bajaj twins, M&M, HDFC, Bharti Airtel, and L&T in the second half of the session erased gains. The index eventually ended at 59,745 level, up 143 points or 0.24 per cent.
Its NSE counterpart, Nifty50, meanwhile, closed at 17,813, up 67 points or 0.38 percent.
Grasim, ONGC, Hindalco, HDFC Life, Shree Cement, Tata Consumer Products, and Asian Paints were the top Nifty gainers today.
Among large-caps, shares of Titan Company ended 1 per cent lower today after hitting a record high of Rs 2,687 apiece on the BSE earlier today. “The company has witnessed a buoyancy in jewellery demand, driven by festive purchases in October and November which helped the division achieve a 37 per cent growth for the quarter, it said in an update for Q3FY22.
The broader markets, however, outperformed the benchmarks for a second straight day with the BSE MidCap and SmallCap indices ending around 0.5 per cent higher each.
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The markets started Samvat 2078 on an upbeat note in the backdrop of a sharp cut in excise duty on fuel prices and a scale down in its bond-buying program by the US Federal stimulus as per expected.
At the end of its two-day meeting, the US Fed said monthly $120 billion purchases of Treasuries and mortgage-backed securities would be trimmed by $15 billion a month.
The BSE Sensex opened at the day’s high of 60,208 and ended 296 points higher at 60,068. The NSE Nifty gained 88 points at 17,917.
The broader markets also ended on a firm note. The BSE Midcap index was up 0.7 per cent at 25,992, and the Smallcap index added 1.4 per cent to 28,901.
“After a great year for equity markets, investors are looking forward to markets continue rising though not at the same pace,” said Dhiraj Relli, MD & CEO, HDFC Securities.
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Benchmark equity indices slumped over 1 per cent in Friday’s intra-day session but made a sharp V-shaped recovery to end the day with little change. Financials and metals exerted pressure on the bourses, even as gains in Reliance Industries, FMCG and select private bank stocks tried to limit the losses.
The S&P BSE Sensex fell 722 points intra-day but recovered to close 21 points, or 0.04 per cent, higher at 52,344 levels. The broader Nifty50 index, meanwhile, bounced back from the day’s low of 15,451 to end at 15,683 levels, down 8 points or 0.05 per cent.
The correction was deeper in the broader markets where the BSE MidCap and SmallCap indices closed 0.70 per cent and 0.89 per cent down, respectively.
Overall, the market breadth was heavily skewed towards bears with the Advance to Decline ratio standing at 1:2. ONGC, Coal India, Power Grid, JSW Steel, UPL, NTPC, M&M, SBI, and Nestle India were the top laggards among the large-cap stocks while Mahanagar Gas, Ashok Leyland, SAIL, Canara Bank, Max Financial Services, Graphite India, HEG, Hindustan Copper, Affle India, and Wockhardt Pharma cracked in the mid and small-cap segments.
Sectorally, the Nifty PSU Bank declined nearly 2 per cent while the Nifty Auto, Metal, and Realty indices slipped up to 1 per cent each. On the upside, the Nifty FMCG index ended 0.29 per cent higher.
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Market bulls rode the global momentum on Dalal Street on Friday, hitting new lifetime highs on the way. Bond yields in the US and Euro zone fell, with German 10-year yields set for their biggest fall this year, as investors bet on ultra-lose monetary policy to stay in place.
Backed by firm global cues, the frontline S&P BSE Sensex hit an all-time-high of 52,641.5 while the broader Nifty50 index claimed 15,835.5-mark in morning deals. In the broader markets, the BSE MidCap and SmallCap indices, too, touched new peaks of 23,045 and 25,249 levels, respectively.
That said, a fag-end weakness in banking, realty, and FMCG counters dragged the markets off highs. By close, the BSE barometer was at 52,475 levels, up 174 points or 0.33 per cent while the 50-share Nifty index ended at 15,799 levels, up 62 points or 0.39 per cent.
The BSE MidCap index, on the other hand, closed 0.14 per cent up while the BSE SmallCap index ended 0.4 per cent higher.
Sectorally, the Nifty Metal index zoomed nearly 3 per cent on the NSE, followed by the Nifty IT and Pharma indices, up over 1 per cent higher each. On the downside, the Nifty Realty and PSU Bank indices slipped up to 1 per cent.
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The domestic equity market ended Friday’s volatile session on a positive note amid healthy buying in financial, oil and gas, metal, and FMCG stocks.
The benchmark S&P BSE Sensex ended at 46,099, up 139 points, or 0.3 per cent while NSE’s Nifty ended at 13,514, up 36 points, or 0.26 per cent.
During the day, Sensex hit a record high of 46,309.63 while Nifty scaled an all-time high of 13,579.35.
Shares of Hinduja Global Solutions soared 17 per cent to Rs 1,148 on the BSE in intra-day trade on Thursday after the company’s subsidiary, HGS AxisPoint Health, partnered with Parkland Community Health Plan (PCHP) to provide disease management services to approximately 195,000 Medicaid beneficiaries in a seven-county area in North Texas.
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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.
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Despite a range-bound trade, domestic markets hit fresh lifetime highs for the third consecutive day on Friday. Investment sentiment remained in check in the absence of any key global and domestic cues.
The benchmark S&P BSE Sensex closed at 41,681.54-level, up 7.62 points or 0.018 per cent. Tata Steel, YES Bank, SBI, and Hero MotoCorp were the top gainers at the 30-share index, while Vedanta, Tata Motors, ITC, and M&M were the top drags for the day. On the NSE, the broader Nifty50 settled little changed at 12,271.8-mark, up 12.1 points or 0.09 per cent. Markets ended at record closing highs for the fourth straight session.
The benchmark Sensex and Nifty hit fresh highs of 41,809.96 and 12,293.90, respectively.
On the sectoral front, public sector banks gained the most on Friday fter the Reserve Bank of India (RBI) decided to buy and sell bonds worth Rs 10,000 crore via open market operations. At close, the Nifty PSU bank index was the top performer on the NSE, up over 2 per cent. On the downside, Nifty Auto index slipped 0.45 per cent.
For the week, the benchmark S&P BSE Sensex gained 1.6 per cent, while the Nifty50 added 1.5 per cent registering their biggest weekly gains in nearly two months. Besides, Nifty Bank index advanced 1 per cent this week.
In the broader markets, the S&P BSE mid-cap index ended 0.15 per cent higher at 14,835.97 level, while the S&P BSE small-cap index ended unchanged at 13,391.03 level, down 0.03 per cent.
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Benchmark indices ended marginally lower on Friday led by a decline in HDFC, HDFC Bank, Sun Pharma and Axis Bank.
The S&P BSE Sensex ended at 35,809, down 67 points or 0.19 per cent, while the broader Nifty50 index settled at 10,724, down 22 points or 0.20 per cent.
Among the sectorial indices, the Nifty Pharma index ended 3.1 per cent lower led a fall in Glenmark and Lupin. The Nifty Metal index settled 2.07 per cent lower weighed by JSW Steel and Welspun Corp.
In the broader market, the S&P BSE MidCap index ended 167 points, or 1.18 per cent lower at 13,941, while S&P BSE SmallCap index fell 111 points, or 0.83 per cent to settle at 13,253.
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After opening marginally lower, the domestic equity market saw a sharp decline in the trade on Friday as investors booked profit across-the-board. The S&P BSE Sensex was trading nearly 600 points lower, slipping below the 36,000 mark in late noon deals, while NSE’s Nifty50 slipped below the crucial 10,800 level, down over 150 points.
IOC, UPL, Adani Ports, Maruti Suzuki and Indiabulls Housing were top losers among Nifty50 stocks, which fell 3.5-4.5 percent.
HPCL, BPCL, Coal India and NTPC were only gainers, up 1-2 percent.
About two shares declined for every share rising on the BSE.
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