Equity markets turned sharply lower at the fag-end of the session as investors digested amendments to Finance Bill, 2023. Besides, selling in US index futures and European markets also weighed on the sentiment.
Back home, under the Bill approved by the Parliament, the debt mutual fund (Debt MF) investors will no longer receive the long-term capital gain tax benefit. They will be taxed like bank deposits. It will be applicable from April 1.
The Centre also hiked the securities transaction tax (STT) on the sale of future and option contracts by up to 25 per cent.
The S&P BSE Sensex closed 398 points, or 0.69 per cent, lower at 57,527 levels, while the Nifty50 shut shop at 16,945, down 132 points or 0.77 per cent.
The broad-based selling was led by metal, PSU banks, and realty indices, which were down over 2 per cent each. Individually, Bajaj Finserv (down 4 per cent), Adani Enterprises, Adani Ports, Hindalco, Bajaj Finance, ONGC, Hero MotoCorp, Tata Steel, Coal India. Titan, HDFC Life, Reliance Industries, M&M, JSW Steel, Maruti Suzuki, and L&T.
In the broader markets, the BSE MidCap and SmallCap indices declined around 1.4 per cent each.
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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.
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The volatile streak in the markets extended into a third straight day on Friday as investors continued to be on edge about the ongoing tensions between Russia and Ukraine.
The S&P BSE Sensex ended an extremely choppy day 54 points, or 0.1 per cent, lower at 57,833 levels, while the Nifty50 shut shop at 17,276, down 28 points or 0.16 per cent.
Reliance Industries, Infosys, Ultratech Cement, Bajaj Finance, ICICI Bank, Bharti Airtel, and M&M were the major drags on the Sensex today, accounting for most of the losses. This downside was capped by gains in HDFC twins, L&T, TCS, and Axis Bank.
In the broader markets, the BSE MidCap and SmallCap indices shed 0.8 per cent each with individual stocks, including Gland Pharma, Honeywell Automation, Astral Ltd, Hindustan Media Ventures, Asian Energy Services, and Unichem Labs cracking between 4 per cent and 8 per cent.
On the sectoral front, key indices ended in the negative zone led by the Nifty Realty index (down 1.2 per cent) and the Nifty Pharma index (down 0.8 per cent). On the upside, the Nifty Bank and Financial Services indices managed to close 0.2 per cent higher each.
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Mixed global cues kept the domestic equities volatile throughout the day on Friday as investors digested key updates from both the Bank of England and the European Central Bank. Meanwhile, Brent crude inched closer to $93 per barrel-mark, and bond yields climbed in the US and in India, which added to the nervousness in the markets.
The S&P BSE Sensex index oscillated 517 points intra-day and eventually settled 143 points lower at 58,645. The Nifty50, on the other hand, ended at 17,516, down 44 points. Both the benchmarks were down 0.24 per cent today but were up 2.5 per cent for the week.
In the broader market, the BSE MidCap and SmallCap indices were down 0.7 per cent and 0.45 per cent, respectively.
Sectorally, the Nifty Realty index fell 2.8 per cent on the NSE, while the Nifty PSB index dipped 1.9 per cent. On the contrary, the Nifty Metal index rose 1.2 per cent.
BSE breadth was midly negative as 1,746 stocks ended in the red as against 1,595 stocks that ended in the green. MAS Financial Services (up 15.5 per cent), Spandana Sphoorty, HG Infra, and Torrent Power were among the top gainers today. EI Hotels, Greaves Cotton, Welspun India, and Radico Khaitan, on the flipside, were the top drags.
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Market bulls reigned on the bourses for the sixth consecutive session on Thursday as strong Q2 show by Infosys and Wipro, along with hopes of a better-than-anticipated economic recovery, lifted sentiment. The benchmark BSE Sensex reached the 61,000-mark milestone for the first time while the Nifty50 index surpassed 18,300 today.
An across-the-board rally lifted the 30-share pack 569 points or 0.94 per cent on the bourses, helping the index to settle at 61,306 levels. The Nifty50, meanwhile, shut shop at 18,336 levels, up 174 points or 0.96 per cent. Both the indices hit fresh record peaks of 61,353 and 18,351 in the intra-day deals.
In the broader markets, the BSE MidCap index closed 0.54 per cent higher while the BSE SmallCap index added 0.46 per cent.
Overall, market breadth firmly favoured the bulls with 1,719 stocks advancing on the BSE compared with 1,637 stocks that declined. The BSE m-cap stood at Rs 272.8 trillion by close.
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Benchmark indices closed at fresh record closing highs in trade, led by gains in select index heavyweights, namely L&T, TCS and HDFC. Further, a positive global market sentiment also lent support to the indices.
BSE Sensex ended the day at 56,125, up 176 points or 0.31 per cent. It is for the first time that the index has settled above the 56,000 mark. Meanwhile, NSE Nifty after hitting a new record peak in intra-day session closed 68 points or 0.41 per cent higher at 16,705. It touched a new peak of 16,722.05 in trade earlier.
The broader markets, meanwhile, outperformed, rising for the fourth straight session. The BSE Midcap index added 1.04 per cent and BSE Smallcap rose 0.93 per cent.
The sectoral space was a sea of green as all indices gained on the NSE. Nifty Metal followed by Nifty Pharma were the top gainers, up over 1 per cent each while Nifty Auto gained the least among all indices.
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Indian equities fell in-line with global stocks after minutes released by the US Federal Reserve suggested tapering of the Fed’s stimulus plan by late 2021. Besides, rampant spread of the Delta variant of Covid-19 and faltering global growth worried investors.
The 30-share Sensex index declined 300 points, or 0.4 per cent, and closed at 55,329 levels on Friday while the Nifty50 index ended at 16,451 levels, down 118 points or 0.7 per cent. Both the indices had hit intra-day lows of 55,014 and 16,376, respectively, earlier today.
The broader markets, meanwhile, were hit harder by the selloff as both, the BSE MidCap and SmallCap indices fell 2 per cent each. The advance to decline ratio favoured sellers and India VIX — the volatility index — surged 8.6 per cent.
Sectorally, the Nifty Metal index cracked 6 per cent while the FMCG index rose 2 per cent.
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Domestic equities witnessed sharp profit booking in the fag end of the session as European stocks slipped in early trade and US stock futures hinted at a muted start on Wall Street later today.
After ruling higher for better part of the day, domestic equities witnessed sharp profit booking in the fag end of the session as European stocks slipped in early trade and US stock futures hinted at a muted start on Wall Street later today.
Concerns about the fast-spreading Delta variant and regulatory actions in China dragged the pan-European STOXX 600 index down 0.5 per cent while Dow Jones Futures were quoting 100 points, or 0.3 per cent, lower. Nasdaq Future, meanwhile, tumbled 1.1 per cent and those linked to S&P500 declined 0.6 per cent. Earlier in Asia, Nikkei skidded 2 per cent, and Kospi and Hang Seng erased over 1 per cent each.
Against this backdrop, the frontline S&P BSE Sensex gyrated 376 points in intra-day trade and ended 66 points, or 0.13 per cent, lower at 52,587 levels dragged by Bajaj Finance (down 2.5 per cent), Bajaj Finance, SBI, Tata Steel, Titan, Asian Paints, Axis Bank, IndusInd Bank, and Nestle India.
It’s NSE counterpart, Nifty50, shut shop at 15,763 levels, down 15 points or 0.1 per cent. The broader markets, however, outperformed with the BSE MidCap and SmallCap indices zooming 0.52 per cent an 0.69 per cent, respectively.
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After a volatile start, benchmark indices swiftly rose in noon deals to end near the day’s high level on Friday. ICICI Bank and ITC (up 3 per cent each), followed by Axis Bank, Kotak Bank, SBI, and HCL Tech were the top contributors towards the indices’ rally.
At close, the S&P BSE Sensex quoted at 52,976 levels, up 138.5 points, or 0.26 per cent. The broader Nifty50, meanwhile, settled above the psychological level of 15,850 at 15,856, up 32 points or 0.2 per cent. The BSE MidCap and SmallCap indices, however, underperformed the benchmarks with the former slipping 0.07 per cent while the latter added 0.11 per cent.
Shares of ITC moved higher by 3 per cent at Rs 213.60 on the BSE in the intra-day trade on Friday, on back of heavy volumes, ahead of its April-June quarter (Q1FY22) earnings on Saturday, July 24. In comparison, the S&P BSE Sensex was up 0.39 per cent at 53,041 levels at 02:20 pm. Trading volumes on the counter more-than-doubled with a combined 36 million equity shares having changed hands on the NSE and BSE till the time of writing of this report.
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Markets started the July F&O series with impressive gains on Friday as hefty buying in metals, financials, and pharma sectors lifted indices for the second day. The Nifty PSU Bank index closed 2.7 per cent higher on the National Stock Exchange (NSE) amid renewed privatisation buzz and fund-raising by banks.
That apart, the Nifty Metal index zoomed 2.5 per cent after Russian government said it is preparing new export taxes from August 1 for steel products, nickel, aluminium and copper which will cost their producers $2.3 billion.
The Nifty Bank, Private Bank, Pharma, and auto indices, meanwhile, rose between 0.7 per cent and 1.6 per cent.
Overall, the frontline S&P BSE Sensex index added 226 points, or 0.43 per cent, to settle the session at 52,925 levels while the Nifty50 index shut shop at 15,863-mark, up 73 points or 0.46 per cent.
In the broader market, the BSE MidCap and SmallCap indices advanced 1 per cent and 0.4 per cent, respectively.
Tata Steel (up nearly 4 per cent), Axis Bank, State Bank of India, ICICI Bank, Hindalco, JSW Steel, Maruti Suzuki, and Coal India made it to the list of outperforming stocks in the large-cap segment while Vodafone Idea, Apollo Hospitals, SAIL, Ashok Leyland, Allcargo Logistics, Uttam Sugar Mills, and Ajmera Realty marched aheead in the broader market space.
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