The frontline indices snapped their eight-day winning streak run as investors preferred to take home some profits ahead of the weekend and upcoming RBI policy next week. Auto and IT shares, in particular, witnessed selling pressure.
The S&P BSE Sensex dropped to a low of 62,680, and ended 415 points lower at 62,869. In the process, the benchmark trimmed its weekly gain to 575 points.
The NSE Nifty 50 settled just a shade below the 18,700-level, down 117 points on Friday.
Among the Sensex 30 shares, auto stocks were the major losers as they reacted to the monthly auto sales numbers. Mahindra & Mahindra slipped over 2 per cent. Maruti was down 1.5 per cent.
Hindustan Unilever, Nestle India, HDFC, Asian Paints, Bajaj Finance, PowerGrid Corporation, ICICI Bank, Sun Pharma, TCS and Infosys were the other significant losers, down over a per cent each.
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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.
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The Reserve Bank of India’s in-line monetary policy action lifted equities on Friday. The benchmark indices snapped their seven-day losing streak as the RBI delivered a 50-basis point repo rate hike, and underscored the resilience of the Indian economy in his statement.
At the index level, the S&P BSE Sensex climbed 1,313 points intra-day before cooling off a little to end at 57,427, up 1,017 points or 1.8 per cent. The NSE Nifty50, meanwhile, inched closer to 17,200 level before ending at 17,094, up 276 points or 1.64 per cent.
26 of the 30 Sensex constituents, and 41 of the 50 Nifty constituents closed in the positive zone led by Hindalco, Bharti Airtel, IndusInd Bank, Bajaj Finance, Kotak Bank, Titan, HDFC Bank, Bajaj Finserv, Tata Steel, and ICICI Bank. These shares rallied between 2 per cent and 5.6 per cent.
The list of losers included Asian Paints, Coal India, Dr Reddy’s Labs, Britannia, Adani Enterprises, and ITC.
Among sectors, the Nifty PSU Bank, and Private Bank indices advanced around 3 per cent each, followed by the Nifty Metal, and Financial Services indices, up 2 per cent each.
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Bears prowled on Dalal Street on Friday as recession fears hammered global equities. Key indices crumbled under heavy selling pressure today with banks (especially in the public sector), auto, IT, metal, and realty stocks plunging the most on the bourses. Their respective indices on the National Stock Exchange (NSE) declined around 2-4 per cent.
At the headline level, the S&P BSE Sensex crashed 1,247 points intra-day before ending at 58,841, down 1,093 points or 1.82 per cent. The NSE Nifty50, too, sunk to a low of 17,505 before shutting shop at 17,551, down 326 points or 1.82 per cent.
The broader markets witnessed an equally brutal on-slaught with the Nifty MidCap 100 and SmallCap 100 falling in the range of 2.5 per cent to 3 per cent. Volatility index — India VIX — surged 8 per cent today to settle near 20-odd level.
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Benchmark indices settled near the day’s high on Friday as investors lapped up metal and IT shares, along with index heavyweights like Reliance Industries, HDFC twins, Sun Pharma, and Bajaj Finance.
The S&P BSE Sensex soared 712 points, or 1.25 per cent, to end at 57,570, while the Nifty50 shut shop at 17,158, up 229 points or 1.35 per cent. In the broader market, the BSE MidCap and SmallCap indices, too, added over 1 per cent each.
Sectorally, the Nifty Metal index climbed 4 per cent, followed by the Nifty IT index (2 per cent). Public sector banks were the only losers with the Nifty PSB index down 1.2 per cent.
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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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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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Global doom rocked Indian equities on Friday as investors fretted over longer-than-expected sticky inflation, coupled with aggressive monetary policy tightening. Tracking losses in global peers, the benchmark S&P BSE Sensex plunged 1,114 points intra-day, before settling at 54,303, down 1,017 points or 1.84 per cent.
The NSE Nifty50, meanwhile, held the 16,200-mark to close at 16,202, down 276 points or 1.68 per cent. The index had hit a low of 16,173 during the day. In the broader market, the Nifty MidCap 100 and SmallCap100 fell up to 1 per cent.
Over 35 Nifty stocks ended the session in the red with Bajaj Finance, HDFC, Kotak Bank, Hindalco, Wipro, Reliance Industries, Tech M, and Infosys falling between 2.5-4 per cent. The losses were trimmed by gains in Grasim Industries, Asian Paints, Apollo Hospitals, Divis Labs, and Dr Reddy’s Labs, that gained over 0.5 per cent each.
Sectorally, all but Nifty FMCG ended the session in the red. The losses were led by the Nifty IT, Oil & gas, Private Bank, and Financial Services indices as they fell 2 per cent each.
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Fag-end selling engulfed the markets on Friday as investors booked profit in banks and metal stocks. With this, the markets ended lower for the sixth straight day despite upbeat global mood.
The S&P BSE Sensex slumped 992 points from the day’s high to end at 52,794, down 137 points or 0.26 per cent. SBI was the biggest laggard on the index, down nearly 5 per cent, as the lender’s Q4 missed Street’s estimates.
NTPC, ICICI Bank, Axis Bank, Maruti Suzuki, Airtel, HDFC twins, and Bajaj twins were the other draggers.
On the NSE, the Nifty50 shut shop at 15,782, down 26 points or 0.16 per cent, after hitting an intra-day high of 16,084. Meanwhile, in the broader market, the BSE SmallCap index added over 1.3 per cent and the BSE MidCap index gained 0.6 per cent.
Sectorally, the Nifty Metal index fell 2 per cent, followed by the Nifty Bank index (down over 1 per cent). On the upside, the Nifty Auto index gained 2.5 per cent led by Tata Motors. Shares of the Tata Group company settled over 8 per cent higher as investors cheered the company’s long-term growth prospects.
Primary market update (as of 3:30 PM)
Delhivery IPO: Issue subscribed 1.5 times so far on final day with QIB portion at 2.6x; NII at 5 per cent; retail at 54 per cent; and employees at 25 per cent.
Venus Pipes and Tubes: Issue subscribed 14.4 times so far with retail portion at 17.7 times; NIi at 14 times; and QIB at 8.8 times.
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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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