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
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Equity markets ended Friday’s choppy trade with nominal cuts pulled down by losses in select heavyweights such as Reliance(1 per cent), HUL( 4 per cent), Asian Paints (3 per cent) and Infosys (1 per cent).
The BSE Sensex closed 237 points lower at 60,622 after it touched an intra-day high of 61,001. The NSE Nifty reached the day’s high of 18,145 before fizzling out gains and closing 80 points down at 18,028.
The other top frontline drags included Bajaj twins, Nestle, L&T, Bharti Airtel, Maruti, Tech M, Sun Pharma, JSW Steel and HDFC Life, which lost 1-3 per cent.
While Coal India, Power Grid, HDFC twins, ITC, ICICI Bank, SBI, Tata Motors, Axis Bank, and NTPC were among the handful of index gainers.
Broader markets bled more than benchmarks with the BSE Midcap and Smallcap indices falling up to 0.7 per cent.
Within sectors, Nifty consumer durables, FMCG, metals, realty and pharma indices suffered the most losses ending around 1 per cent lower each, while bank and financial pockets held ground and logged fractional gains.
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Equity markets staged a firm turnaround intra-day to close Friday’s session with nominal gains powered by select index heavyweights such as Infosys, ICICI Bank, TCS and HUL, which gained over 1 per cent each.
Gradual easing in domestic and US retail inflation also aided sentiment and helped narrow the gap-down start. The BSE Sensex recovered 633 points from the day’s low and eventually ended 303 points higher at 60,261.
The NSE Nifty closed 98 points up at 17,957 level after bouncing back from the day’s lowest level of 17,774.
Other frontline stocks that supported the recovery included Tata Steel, IndusInd Bank, Ultratech Cement, Bajaj Finance, NTPC, Airtel, Adani Enterprises, Eicher Motors and BPCL, which gained 1-2 per cent.
On the flip side, top losers across the two benchmark indices included Titan, Nestle, ITC, L&T, Reliance and Apollo Hospitals.
The broader markets closed with slimmer gains. The BSE Midcap and Smallcap indices ended 0.09 and 0.2 per cent higher, respectively.
Within sectors, barring consumer durables, PSB and Metal indices on the Nifty logged in most gains, up over 1 per cent each, followed by IT and financial pockets.
Among stocks, HCL Tech firmly recovered the day’s losses and ended with a 0.4 per cent gain.
L&T Technology Services slumped 5.3 per cent on its plan to buy the smart world & communications business (SWC) from its parent L&T.
Banking stocks will be in the spotlight ahead of their Q3 earnings, particularly when the stock market is going through extreme volatility. HDFC Bank will declare its Q3FY23 results on Saturday, followed by Federal Bank on Monday.
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The key benchmark indices recouped losses, led by fresh buying in select IT and financial shares, to end Friday’s trading session on a flat note. Auto stocks skidded for the second day in a row.
The S&P BSE Sensex, which, touched a low of 61,337, eventually ended at 61,663, down 88 points. In the process, the BSE benchmark also finished the week with a marginal loss of 132 points.
The NSE Nifty 50 settled 36 points lower at 18,308 on Friday.
Among the Sensex 30 stocks, Mahindra & Mahindra slipped 2.4 per cent. NTPC, Bajaj Finance, Maruti, IndusInd Bank and Bharti Airtel were the other notable losers. On the positive side, HCL Technologies and Asian Paints finished with gains of around a per cent each.
The broader indices – BSE Midcap and Smallcap were down nearly 0.5 per cent each. The breadth too was fairly negative, with 2,048 declining stocks against 1,455 advancing shares on the BSE.
The BSE Auto index slipped 1.2 per cent and was the major sectoral loser. The Capital Goods, Oil & Gas and Energy indices were the other prominent losers.
In the broader market, shares of TCPL Packaging hit a record high at Rs 1,696, and ended with a solid gain of 15.4 per cent on healthy business outlook. The stock of the packaging company surpassed its previous high of Rs 1,540.45, touched on September 5, 2022.
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The volatile day in the markets ended mildly above the flat line on Friday as investors awaited India’s retail inflation data for July. The S&P BSE Sensex gyrated around 425 points, before closing 130 points, or 0.22 per cent, higher at 59,463. The Nifty50 closed at 17,698, up 39 points or 0.22 per cent.
In the broader markets, the BSE MidCap and SmallCap indices closed 0.15 per cent and 0.4 per cent higher, respectively. Among sectors, the Nifty IT and Pharma indices fell 1.15 per cent each, while the Nifty Oil and Gas index rose over 2 per cent.
Stock of the day: Tata Elxsi. Shares of Tata Elxsi hit a new high at Rs 10,150 as they rallied 6.8 per cent on the BSE in Friday’s intra-day trade on the back of a strong growth outlook. Tata Elxsi is a subsidiary of Tata Sons.
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Benchmark indices staged a one-way rally, surging nearly a per cent on Friday, despite tepid global cues. The frontline S&P BSE Sensex zoomed 390 points to close at 56,072. The index hit an intra-day high of 56,186.
The Nifty50, on the other hand, ended at 16,719, up 114 points. It hit a high of 16,752. Ultratech Cement, Grasim, UPL, HDFC, HDFC Bank, Eicher Motors, and ICICI Bank were the top gainers, ralling over 2 per cent each. Infosys, Tata Consumer Products, NTPC, and Power Grid, on the other hand, shed over 1 per cent.
Sectorally, the Nifty Bank added 1.6 per cent, followed by the Nifty PSU Bank index (up 1.5 per cent). The Nifty IT fell 0.6 per cent.
In the broader market, the BSE MidCap index fell 0.2 per cent, but the BSE SmallCap index added 0.2 per cent.
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A firm trading session witnessed an anti-climatic end with almost all the sectors giving up their gains. The Nifty Auto index was the worst hit as it shed around 1.8 per cent, while the Nifty Bank, Metal, PSU/Private Banks, and Realty indices fell up to 1 per cent each. The Nifty IT index was the only gainer, up 0.45 per cent.
Overall, the BSE Sensex index fell 664 points from the day’s high to close at 55,769, down 49 points or 0.09 per cent. The Nifty50, too, shut shop at 16,584, down 44 points or 0.26 per cent. It hit an intra-day high of 16,794.
In the broader markets, the BSE MidCap and SmallCap indices fell 1.45 per cent and 1.16 per cent, respectively.
Shares of Reliance Industries (RIL) gained 3 per cent to Rs 2,816.35 on the BSE in Friday’s intra-day trade, having rallied 7 per cent in the past two trading days amid heavy volumes. RIL has seen addition of Rs 1.25 trillion in its total market capitalisation of Rs 19.05 trillion during this period.
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After a one-day hiatus, bulls were back on Dalal Street, tracking global gains, as another volatile trading week comes to a close. The S&P BSE Sensex jumped 1,534 points, or 2.91 per cent, to end at 54,326, while the Nifty50 shut shop at 16,266, up 457 points or 2.89 per cent.
Gains were across the board with all 30 Sensex constituents, and 48 of the 50 Nifty constituents closing the day in the green zone. Dr Reddy’s Labs, JSW Steel, Nestle India, Tata Motors, Tata Steel, Cipla, Adani Ports, L&T, RIL, Axis Bank, and SBI led from the front, rallying over 3.5 per cent each.
On the downside, only UPL and Shree Cement were in the red, down up to 0.8 per cent.
In the broader market, the BSE MidCap and Smallcap indices added 2 per cent each. Sectorally, the Nifty Metal index advanced over 4 per cent as China announced to pump a whopping $5.3 trillion into its economy this year as Covid outbreaks and lockdowns crush activity.
Besides, all other indices added upwards of 2 per cent each.
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Benchmark indices turned sharply lower in the last hour of trade as investors booked profits at higher levels. The S&P BSE Sensex, which had touched a high of 57,975, tanked 1,073 points to hit a low of 56,902. The index, however, closed at 57,061, down 460 points or 0.8 per cent.
On the NSE, the Nifty50 dropped 325 points from the day’s high of 17,378 to hit a low of 17,053. It ended at 17,102.5, down 142.5 points or 0.83 per cent.
Axis Bank was the biggest loser on the benchmark indices, down 6.5 per cent, as analysts do not expect valuation to catch up with peers in light of the NII undershoot, impending dilution to fund the Citi deal, and higher operating expenditure guidance.
Coal India, Adani Ports, Power Grid, Maruti Suzuki, Bajaj Auto, ONGC, Wipro, and Britannia Industries were the other laggards, down between 2.5 per cent and 4 per cent.
On the upside, HDFC Life, Tata Consumer Products, Kotak Bank, Sun Pharma, HDFC Bank, Tata Motors, Tata Steel, and Ultratech Cement were the only gainers.
In the broader markets, the MidCap and SmallCap indices slipped about 1 per cent each. Sectorally, all the indices ended the day in the red zone, dragged by Nifty Oil and Gas index, down 2.5 per cent.
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Benchmark indices snapped their three-day losing run and settled 0.8 per cent higher on Friday. Investors heaved a sigh of relief as the Reserve Bank of India decided to keep the interest rates unchanged and maintained ‘accommodative’ stance despite liquidity unwinding by global central banks. The RBI also announced revised inflation and GDP growth forecasts in-line with market expectations. Yields on 10-year bonds, however, hit multi-year high of 7.075, inching up 2.3 per cent.
Against this backdrop, the S&P BSE Sensex climbed 571 points from the day’s low to end at 59,447, up 412 points against Thursday’s close. The NSE Nifty, too, advanced 145 points to settle at 17,784 in a broad-based rally. Both the indices had hit intra-day highs of 59,654 and 17,843, respectively.
The broader BSE MidCap and SmallCap indices rose in tandem with the frontline indices and closed 0.9 per cent higher each.
Among individual stocks, ITC ended as the top gainer as it advanced 4.7 per cent on the Sensex index. The stock of the cigarettes to fast-moving consumer goods (FMCG) major has rallied 24 per cent in the past six week.
That apart, Dr Reddy’s Labs, M&M, Tata Steel, Titan, Reliance Industries, Asian Paints, Nestle India, and IndusInd Bank were the other gainers, rising upwards of 1.5 per cent each.
On the downside, only Tech M, NTPC, Maruti Suzuki, Sun Pharma, and HCL Tech were the laggards, down up to 1.2 per cent.
Sectorally, the Nifty Metal index was the biggest gainer, rising 2 per cent. Meanwhile, the Nifty IT index ended wee bit in the red.
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