Benchmark indices swung wildly in trade on Friday after the government’s move to tax oil refiners’ windfall gain amid soaring crude oil prices hurt index heavyweight Reliance Industries’ stock. Other oil-linked stocks such as ONGC, OIL India, MRPL, and Chennai Petrochemicals, too, bled in the broader markets.
Overall, the BSE Sensex index gyrated 959 points intra-day before closing 111 points, or 0.21 per cent, lower at 52,908. The Nifty50, too, hit an intra-day low of 15,511 before settling at 15,752, down 28 points or 0.18 per cent.
In the broder markets, the BSE MidCap and SmallCap indices fell 0.07 per cent and 0.46 per cent, respectively. Among sectors, the BSE Oil and Gas Index dropped 3.5 per cent.
Shares of oil upstream companies, including Reliance Industries (RIL), ONGC, and Oil India, came under heavy selling pressure on Friday after the government imposed taxes on the export of petrol, diesel, and aviation turbine fuel (ATF), as it mandated exporters of these products to meet the requirements of the domestic market first.
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 →
Bear-hammering continued on Dalal Street for a third straight day on Wednesday as profit booking in banks and financial stocks weighed on the sentiment. The S&P BSE Sensex closed at 58,339 levels today, down 237 points or 0.4 per cent, while the NSE Nifty shut shop at 17,476, down 55 points or 0.31 per cent. In the intra-day deals, the benchmark indices had hit lows of 58,291 and 17,457 levels, respectively.
HDFC, HDFC Bank, Maruti Suzuki, Dr. Reddy’s Labs, Tata Motors, PowerGrid, Asian Paints, Bajaj Finserv, Kotak Bank, Titan, Cipla, and Eicher Motors were the top laggards on the Nifty index today, down between 1 and 2 per cent. On the upside, ONGC, Apollo Hospitals, Sun Pharma, ITC, UPL, JSW Steel, and Shree Cement added in the range of 1 to 3 per cent.
Meanwhile, in the broader market, the BSE MidCap index slipped 0.21 per cent but the BSE SmallCap index added 0.27 per cent.
Among sectors, the Nifty Private Bank index was the worst hit as it dipped 1 per cent. On the upside, the Nifty Metal index gained the most, rising 0.57 per cent.
Continue Reading →
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.
Continue Reading →
Key benchmark indices ended the record-breaking year 2021 on a high note. The Sensex and the Nifty displayed a firm trend throughout the day on the back of steady gains auto, financials, FMCG and index heavyweight Reliance Industries.
The Sensex touched a high of 58,409, and ended with a gain of 460 points at 58,254. In the process, the BSE benchmark was up 1,130 points for the week.
The 30-share index finished the calendar year with a solid gain of 22 per cent (10,503 points), after having touched a new life-time high of 62,245 on October 19, 2021.
The NSE Nifty settled 150 points higher at 17,354, and was up a whopping 24.1 per cent for 2021.
Among sectoral indices, BSE Metal and Consumer Durables indices were up over 2 per cent each. The Auto and Telecom indices gained 1.7 per cent each. The Bankex, FMCG, Oil & Gas and Realty indices also finished with gains in excess of a per cent each.
The overall breadth too was extremely positive, with 2,438 stocks advancing versus 944 declining stocks on the BSE on Friday.
Titan was the top gainer among the Sensex 30 stocks, it ended 3.5 per cent higher at Rs 2,522. UltraTech Cement and Kotak Bank were up around 2.5 per cent each. Maruti, Axis Bank, SBI, Bajaj Finserv, Hindustan Unilever, Bajaj Finance, HDFC Bank, Nestle and Sun Pharma were the other major gainers.
On the flip side, IT stocks kind-off under-performed in trades on Friday owing to selective profit-taking. Among others, NTPC slipped 2 per cent.
The broader markets outperformed the benchmark indices. The BSE Midcap and Smallcap indices were up 1.4 per cent and 1.2 per cent, respectively.
Continue Reading →
Stocks across the board, barring the IT sector, witnessed significant selling pressure in trades on Friday as unwinding of global stimulus packages dented sentiment. That apart, unforseen threat from the Omicron virus and high inflation kept bulls at bay all through the day.
The BSE Sensex tanked to a low of 56,951, and evenutally settled with a heavy loss of 889 points at 57,012. In the process, the BSE benchmar ended the week with a significant loss of 3 per cent (1,775 points).
The NSE Nifty slumped to a low of 16,966, and finally ended with a loss of 263 points at 16,985.
Index heavyweight Reliance Industries plunged 2.6 per cent to Rs 2,341, and alone accounted for a loss of 176 points on the BSE benchmark. That apart, the HDFC twins were the other major dragggers (223 points loss).
Continue Reading →
The markets exhibited a high amount of volatility for the second day in a row on the back of unabated selling pressure in select index heavyweights. The BSE Sensex tumbled to a low of 59,089, but eventually ended 678 points lower at 59,307. In the process, the BSE index has now shed 5 per cent (2,938 points) from its recent peak of 62,245.
The NSE Nifty logged its second straight weekly loss, down 185 points at 17,672. The Nifty has declined 3.8 per cent (677 points) in the last two weeks. In intra-day trades on Friday, the 50-share index dipped to a low of 17,613, and was within striking distance of its 50-DMA (Daily Moving Average) at 17,570-odd levels.
The broader markets outperformed the benchmark indices in trades today. The BSE Midcap index edged 0.2 per cent higher, while the Smallcap index ended slipped 0.4 per cent, as against a 1.1 per cent decline in the Sensex.
Among sectors, the BSE Energy index plunged 1.9 per cent, and the IT index shed 1.6 per cent. The Bankex was down over a per cent. The Auto, Healthcare and Realty indices ended marginally in the positive zone.
The overall breadth was marginally negative at close. Out of 3,399 stocks traded on the BSE, 1,796 declined, while 1,452 advanced.
Continue Reading →
The Indian benchmark indices erased early gains partially but were still trading positively in the afternoon. The S&P BSE Sensex held the 60,000-mark, up 220 points at 60,106 while the Nifty was below the 17,900-level at 17,865.
The top gaining sectors were Nifty Realty and Nifty IT, up 1 per cent each, while the laggards were the metals, public sector banks, FMCG and media stocks. The broader indices were trading mixed. The Nifty Midcap 50 fell over a per cent, while the Smallcap 50 rose 0.2 per cent.
Shares of information technology (IT) companies were on roll with most of the frontline stocks trading at fresh all-time highs on the bourses on strong revenue guidance by global IT firm Accenture for the financial year 2021-22 (FY22). Accenture forecasted 12-15 per cent revenue growth for FY22, on top of the $50.5 billion revenue it achieved in the current fiscal.
Continue Reading →
It was a freaky Friday for Dalal Street investors as bears came roaring amid weakness in Asian markets and unabated rise in Covid-19 cases along with hiccups in vaccination drive back home. Profit booking too weighed on markets following four straight sessions of gains that led to a 4 per cent rally in the benchmark indices this week.
The benchmark indices eased 2 per cent today amid massive selling in all but pharma sector. The Nifty Bank and Financial Services indices took the sharpest knock and dropped 3 per cent each while the Nifty FMCG, Auto, IT, and Realty indices slipped up to 1.5 per cent. The Nifty Pharma index bucked the trend and gained settled 1 per cent higher.
In effect, NSE’s 50-share index erased 264 points to close at 14,631 levels dragged mainly by HDFC (down 4.2 per cent), HDFC Bank (4 per cent), ICICI Bank, Kotak Mahindra Bank, Asian Paints, M&M, TCS, Tata Motors, and Adani Ports. The losses were, however, capped by gains in ONGC (4 per cent), Coal India, Divi’s Labs, Grasim, and Indian Oil Corporation.
On the BSE, the Sensex index nursed losses in 25 of the 30 constituents and ended at 48,782 levels today, down 983.5 points.
On a weekly basis, both the frontline indices snapped their 3-week losing streak and added around 2 per cent higher each.
SmallCap scrips, meanwhile, remained resilient in the weak market with stocks such as Uttam Sugar, Tata Metaliks,Jay Bharat Maruti, and Confidence Petroleum India rallying between 174 per cent and 16 per cent. At the index level, the S&P BSE SmallCap settled just 0.07 per cent lower.
The MidCap index, on the other hand, slipped 0.65 per cent.
Continue Reading →
Snapping their 3-day winning streak, domestic equity markets traded range-bound in the negative territory on Friday, with a few episodes of gains. Amid mixed global cues and record Covid-19 cases back home, coupled with reports of a vaccine supply crunch, the benchmark indices dropped 0.3 per cent today.
Among headline indices, the S&P BSE Sensex ended the day at 49,591 level, down 155 points. 50 per cent of the constituents ended the day in the red with Bajaj Finance (down 3 per cent), Ultratech Cement, NTPC, ICICI Bank, Axis Bank, IndusInd Bank, and Reliance Industries leading the list of losers. On the upside, Sun Pharma, HUL, Tech Mahindra, Titan Company, Dr Reddy’s Labs, and HCL Tech were the top gainers on the index, up in the range of 1 per cent to 3.5 per cent.
On the NSE, the 50-share barometer settled at 14,835 levels, down 39 points dragged down by UPL, Tata Steel, Coal India, and Axis Bank.
Trends in the broader markets were mixed as the S&P BSE SmallCap index closed 0.7 per cent higher while the S&P BSE MidCap index dipped 0.07 per cent.
The SmallCap index hit fresh record peak of 21,667, for second day in a row on the back of gains in Srei Infra, Butterfly Gandhimathi, Kilitch Drugs, Subex, Bank of Maharashtra, Aarti Surfactants, Vimta Labs, and Sasken Technologies.
Sectorally, investors appeared to be defensive with the Nifty Pharma index ending over 3 per cent up. The Nifty IT and FMCG indices, meanwhile, settled 0.8 per cent higher each.
On the downside, the Nifty Bank, Private Bank, and Auto indices slipped up to 1 per cent.
Continue Reading →
