After bouts of volatility in the last two trading sessions, markets took a breather on Friday and traded flat for better part of the day. While financial and banking counters traded in the sea of red throughout the day, index heavyweights like Reliance Industries and Bharti Airtel, that surged 3 per cent and 6 per cent, respectively in the intra-day trade today, provided the necessary support.
In the intra-day trade, the S&P BSE Sensex hit a record high of 42063.93. At close, the 30-share index was at 41,945.37 level, up 12.81 points or 0.031 per cent. Bharti Airtel, that gained over 6 per cent today, was the top gainer at close. The stock hit an over 2-year high of Rs 503.60 on the BSE amid expectations that the telecom company is poised for strong market share gain if payment due to AGR makes Vodafone Idea exit the industry. On the downside, IndusInd Bank was the top loser, down 2 per cent, due to its high exposure towards telecom companies.
On the NSE, the Nifty50 settled 3.15 points, or 0.025 per cent, lower at 12,352.35-mark. Nifty Bank, financial services, metals and IT indices settled the day in the negative territory. On the other hand, Nifty Pharma gained nearly 2 per cent.
For the week, the Sensex has advanced 0.9 per cent, while the broader Nifty50 has gained 0.8 per cent. Nifty mid-cap index, meanwhile, has risen 4 per cent during the week.
The party in the broader markets continued for the ninth straight session. The S&P BSE mid-cap index was up 0.5 per cent at 15,703 level. Meanwhile, the S&P BSE small-cap index ended at 14,708.70 level, up 0.42 per cent.
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Indian equity markets edged higher for the third straight session as positive global cues fueled investors’ risk appetite. While metal stocks charged ahead during Friday’s trading session after US President Donald Trump said Washington and Beijing are very close to signing a “big” trade deal, auto stocks gained as Conservative leader Boris Johnson won election in the United Kingdom, paving way for Brexit-divorce deal by Janurary 31, 2020.
Besides, public sector banks (PSBs) rallied today after reports suggested that the government is considering increasing the government bond investment limit of foreign portfolio investors (FPIs) to at least 10 per cent of the outstanding, from 6 per cent now, with an aim to incorporate local bonds into global bond indices.
At close, the benchmark S&P BSE Sensex settled 428 points, or 1.05 per cent higher, at 41,009.71 level. Vedanta, Axis Bank, State Bank of India, ans Maurti Suzuki ended as the top gainers among the Sensex pack. On the contrary, Bharti Airtel, Bajaj Auto, and Asian Paints settled as top laggards.
On the NSE, the Nifty50 closed near 12,100-mark, up 114 points, or 0.95 per cent, at 12,085.70 level.
For the week, Sensex added 1.5 per cent, Nifty50 advanced 1.4 per cent, and Nifty Bank index gained 2.2 per cent.
Sectorally, all the indices ended the day with gains. Nifty PSU Bank index gained the most, up nearly 4 per cent, followed by Nifty Metal index (up 2 per cent).
In the broader market, both, the S&P BSE mid-cap and small-cap indices closed 0.89 per cent higher at 14,824.80 and 13,334.45, respectively.
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Extending its slide for the second consecutive day, the domestic equity market ended with nearly half a per cent loss on Friday, mainly dragged by information technology (IT) shares. Besides, uncertainty on US-China trade deal talks, too, hurt sentiment.
The S&P BSE Sensex lost 216 points or 0.53 per cent to end at 40,359 levels. During the day, the index hit a high and low of 40,653.17 and 40,276.83, respectively. Tata Steel (up over 4 per cent) was the top gainer on the index while IT major Infosys (down around 3 per cent) was the biggest loser.
On the NSE, the broader Nifty50 index ended at 11,914, down 54 points or 0.45 per cent with 29 constituents declining and 21 advancing.
In the broader market, the Nifty Midcap 100 index ended flat at 16,868, up just 5 points or 0.03 per cent while Nifty Small Cap 100 index ended at 5,702, down over 4 points or 0.08 per cent.
India VIX declined over a per cent to 14.82 levels.
Sectorally, IT stocks declined the most with the Nifty IT index ending 2 per cent lower at 14,996 after reports said Goldman Sachs has downgraded counters such as Tata Consultancy Services (TCS), Wipro, and Mphasis. The brokerage, as per reports, noted that the IT sector, as a whole, will face cyclical hiccup ahead and the current valuation of the sector is at premium to historical average.
Financial and FMCG stocks, too, ended in the negative territory. On the flip side, metal stocks witnessed sharp rally in the fag-end of the session. Nifty Metal index added over 2 per cent to 2,521 levels.
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Extending their gaining streak into the sixth straight session, benchmark indices ended with over half a per cent gains on Friday even as global peers tumbled after China’s GDP growth slipped to a 27-year low of 6 per cent.
Industry heavyweights Reliance Industries (RIL), HDFC Bank, TCS, and Larsen & Toubro (L&T) helped benchmark S&P BSE Sensex settle at 39,298 levels, up 246 points or 0.63 per cent. The 30-share index hit an intra-day and low of 39,361 and 38,964, respectively.
YES Bank (up over 8 per cent) emerged as the top gainer on the index while Tata Motors (down 1 per cent) the biggest loser.
In the broader market, both mid and small-caps outperformed the headline indices. The S&P BSE MidCap index added 253 points or 1.78 per cent to close at 14,420 while the S&P BSE SmallCap index ended at 13,127, up 213 points or 1.65 per cent.
On the NSE, the broader Nifty50 index gained 75.50 points or 0.65 per cent to close at 11,662 levels.
On a weekly basis, both Sensex and Nifty ended with 3 per cent gains.
On the sectoral front, barring Nifty IT, all the other indices ended in the green. Relaty stocks advanced the most, followed by metal and PSU bank stocks. The Nifty Realty index climbed nearly 2 per cent to 262.80 levels.
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Some brisk buying in industry heavyweights such as Infosys, HDFC, ICICI Bank, Hindustan Unilever (HUL), and Bharti Airtel helped benchmark indices settle with decent gains on Friday. Additionally, positive global cues, too, boosted investor sentiment.
The S&P BSE Sensex added 247 points or 0.65 per cent to end at 38,127.08 levels, with Infosys (up 4 per cent) being the top gainer and YES Bank (down over 3 per cent) the biggest loser. During the session, the index hit a high and low of 38,345.41 and 37,737.85, respectively.
In the broader market, the S&P BSE MidCap index ended at 13,780.99 levels, up 33 points or 0.24 per cent and the S&P BSE SmallCap gained 49 points or 0.38 per cent to close at 12,772.07.
On the NSE, the headline index Nifty50 ended at 11,301.25 levels, up 67 points or 0.59 per cent.
Sectorally, barring media and private bank, all the indices on the NSE ended in the green. The Nifty Metal index ended at 2,335.20 levels, up 2.27 per cent.
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Indices settled higher on Friday ahead of finance minister Nirmala Sitharaman’s media address, scheduled later in the day, wherein measures to revive the economy, clarity on the possible rollback of super-rich tax on FPIs, and implementation of direct tax code (DTC) are expected.
That apart, investors were also eyeing Federal Reserve chair Jerome Powell’s speech at Jackson Hole, Wyoming for clarification on whether the US central bank remains on course to deliver another interest rate cut in next month.
The benchmark S&P BSE Sensex settled 228 points, or 0.63 per cent, higher at 36,701 levels lifted by gains in metals, and public sector banks’ stocks. Vedanta, YES Bank, ONGC, and M&M were the top gainers at the 30-share index, while IndusInd Bank, ITC, ICICI Bank, and Power Grid ended as top laggards. The broader Nifty50, too, closed at 10,829-mark, up 88 points or 0.82 per cent.
The Sensex and Nifty50 settled nearly 600 and 192 points higher, respectively from the day’s low.
For the week, both Sensex and Nifty50 settled in the negative territory for second week in a row, down 2 per cent each. Further, Nifty Bank index slipped 4.5 per cent this week, registering the biggest weekly fall in 11 months, while Nifty mid-cap index settled 3 per cent lower, its biggest monthly fall.
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Fresh trade war concerns between the United States and China weighed down investors’ sentiment on Friday leading to a sluggish trade through the day. The benchmark S&P BSE Sensex and the broader Nifty50 plummeted 411 points and 131 points respectively during the intra-day trade before staging a smart recovery during the last trading hour.
Indices inched higher on reports that the PMO took stock of the steep sell-off being witnessed in the market since the presentation of the Union Budget 2019-20. Reports suggested that PMO met officials from the Finance Ministry on Thursday to discuss concerns raised by the FPIs and even considered proposals submitted by them.
The Sensex closed at 37,118 level, up 100 points, or 0.27 per cent with Bharti Airtel, Asian Paints, Bajaj Auto, and Maruti being the top gainers. On the other hand, Tata Steel, SBI, Vedanta, and ONGC ended the day with steep losses. The broader Nifty50 failed to hold the psychological 11,000-mark to end at 10,997, up 17 points, or 0.16 per cent.
In the broader markets, S&P BSE Mid-cap closed at 13,547 level, up 20 points, or 0.15 per cent while the S&P BSE Small-cap settled 55 points, or 0.44 per cent, lower at 12,496 level.
Sectorally, metals slipped the most as risks to global economy increased after US President Donald Trump imposed fresh tariffs Chinese imports. The index dipped 2.16 per cent at close, followed by Nifty PSU Bank, down 1.12 per cent. Among the gainers, Nifty Auto index ended 1.26 per cent higher, followed by Nifty IT index, which gained 0.57 per cent on the back of weaker rupee.
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Benchmark indices erased their early gains to close Friday’s session lower, dragged down by metal stocks.
The benchmark S&P BSE Sensex closed 192 points, or 0.48 per cent, lower, with YES Bank, IndusInd Bank, Tata Motors, Reliance Industries, and ONGC the top losers.
The broader Nifty50 index slipped 53 points, or 0.45 per cent, to 11,789. The market breadth remained in favour of sellers. About 919 stocks declined and 822 advanced on the NSE.
On a weekly basis, however, the indices gained with the Sensex closing 0.5 per cent higher and the Nifty climbing 0.6 per cent.
Among Nifty sectoral indices, only three closed the day in the green. Nifty Metal, down 1.1 per cent, took the deepest cuts while the Nifty Private Bank index dipped 0.6 per cent.
In the broader market, the S&P BSE MidCap index settled 45 points, or 0.3 per cent, lower at 14,808, while the S&P BSE SmallCap index lost 10 points, or 0.07 per cent, to 14,239.
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The S&P BSE Sensex ended 222 points or 0.58 per cent lower at 38,165 while NSE’s Nifty50 index dropped 64 points or 0.56 per cent to settle at 11,457.
At 2:30 PM, the S&P BSE Sensex 236 points lower around 38,150 levels, weighed by losses in Reliance, HDFC Bank, TCS, Kotak Bank and Maruti while slipped 70 points, or 0.61 per cent, to 11,450 levels.
In the broader market, the S&P BSE Midcap index was trading 73 points lower at 15,093, while the S&P BSE SmallCap index was ruling at 14,767, down 57 points or 0.39 per cent.
Among sectoral indices, every Nifty index except Nifty Realty were trading in the red with losses ranging from 0.21 per cent to 1.28%.
Meanwhile, Fitch Ratings on Friday cut India’s economic growth forecast for the next financial year starting April 1, to 6.8 per cent from its previous estimate of 7 per cent, on weaker than expected momentum in the economy.
Shares of InterGlobe Aviation, parent of IndiGo, and SpiceJet rallied up to 14 per cent in early morning trade on Friday, surging up to 33 per cent in past two days on market share gain in the month of February.
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Heavy buying in financials, autos, metals and pharma counters and positive global cues lifted the equity markets on Friday.
The S&P BSE Sensex added 196 points or 0.55 per cent to settle at 36,064, while the NSE’s Nifty50 index closed at 10,863.50, up 71 points or 0.66 per cent.
On a weekly basis, the 30-share index Sensex rose 0.53 per cent while Nifty gained 0.66 per cent.
Among individual stocks, shares of SBI Life Insurance climbed 5.47 per cent to Rs 612.25 on the BSE after CA Emerald Investments (“Emerald”) acquired 9 per cent stake in the company through open market on Friday. The stock made a sharp rebound after falling over 12 per cent in the early trade.
Shares of SML Isuzu were locked in upper circuit of 20 per cent at Rs 682 on the BSE after the company reported strong 33 per cent year-on-year (YoY) growth in total sales at 1,282 units in February.
On the contrary, Bharti Airtel ended over 3 per cent lower at Rs 307.75 apiece on BSE after the company said its board of directors approved a fund raising plan of up to Rs 32,000 crore through a mix of rights issue and bond.
Sectorally, all the indices ended in the green, with media stocks advancing the most, followed by PSU banks and metals. The Nifty PSU Bank index ended over 2.50 per cent higher at 2,832 levels with all the 12 constituents ending in the positive territory.
In the broader market, S&P BSE MidCap index gained 184 points or over 1 per cent to settle at 14,503 while S&P BSE SmallCap surged over 2 per cent to end at 13,982.
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