man checks stock market news on the big screen as Sensex opened in the red when counting began on June 4.
| Photo Credit: ANI

Benchmark equity indices Sensex and Nifty began the trade on an optimistic note on June 5 after facing heavy drubbing in the previous trade as value-buying at lower levels led to an uptrend in the markets.

Making a strong comeback after the June 4 sharp decline, the 30-share BSE Sensex jumped 948.83 points to 73,027.88 in early trade. The NSE Nifty went up by 247.1 points to 22,131.60.

While the NDA is comfortably above the majority mark of 272 in the 543-member Lok Sabha, the BJP has fallen short of the magic number for the first time since 2014 and is critically dependent on its allies for government formation.

The Election Commission has declared results for all 543 Lok Sabha constituencies, with the BJP winning 240 seats and the Congress 99.

“Despite the reduced majority, we expect the policy agenda of Modi 2.0 (investment-led growth, capex, infrastructure creation, manufacturing, etc.) to continue, although with some tweaks. We also expect some populist measures to address rural stress and lift sentiments at the margin, given the nature of the verdict,” as per a report by Motilal Oswal Research.

Among the 30 Sensex companies, Hindustan Unilever, Nestle, Asian Paints, HCL Technologies, HDFC Bank, Kotak Mahindra Bank and ITC were the biggest gainers.

Larsen & Toubro, Power Grid, NTPC and State Bank of India were among the laggards.

“The market will take some time to absorb the unexpected election results. Stability will return to the market soon but volatility will continue till there is clarity on the cabinet and the key portfolios,”said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

One positive of the sharp market correction is that the excessive valuations have moderated a bit and this will facilitate institutional buying once clarity emerges on the formation and composition of the cabinet, he added.

In Asian markets, Seoul and Hong Kong were quoting with gains while Tokyo and Shanghai traded lower.

U.S. markets ended in positive territory on June 4.

Global oil benchmark Brent crude dipped 0.04% to $77.49 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹12,436.22 crore on June 4, according to exchange data.

Markets had the worst trading day in four years on June 4 as the BJP fell short of the magic number for the first time since 2014.

The BSE benchmark Sensex nosedived 4,389.73 points or 5.74% to settle at a more than two-month low of 72,079.05 on June 4. In the day trade, the barometer tanked 6,234.35 points or 8.15% to hit a nearly five-month low level of 70,234.43.

The NSE Nifty tumbled 1,982.45 points or 8.52% to 21,281.45 during the day. Later, it ended at 21,884.50, a sharp decline of 1,379.40 points or 5.93%.

Among the Sensex components, Bharti Airtel, Infosys, Tech Mahindra, HCL Technologies, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the major gainers.
| Photo Credit: Reuters

Equity benchmark indices rallied in early trade on May 16 amid firm global market trends and buying in Reliance Industries and Tata Consultancy Services.

The 30-share BSE Sensex rallied 409.72 points to 73,396.75 in early trade. The NSE Nifty went up 129.45 points to 22,330.

Among the Sensex components, Bharti Airtel, Infosys, Tech Mahindra, HCL Technologies, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the major gainers.

Maruti, Tata Motors, Power Grid and Larsen & Toubro were among the laggards. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading with gains. Wall Street ended higher on May 15.

“The global market construct continues to be supportive with the U.S. indices setting new records. The decline in U.S. CPI inflation in April to 3.4% sets the stage for a rate cut by the Fed,” said V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

“Global oil benchmark Brent crude climbed 0.40% to $83.08 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,832.83 crore on Wednesday,” according to exchange data.

Halting its three-day rally, the 30-share BSE Sensex declined 117.58 points or 0.16% to settle at 72,987.03 on Wednesday. The NSE Nifty dipped 17.30 points or 0.08% to 22,200.55.

From the Sensex basket, Tata Motors dropped more than 7%.
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty declined in early trade on May 13 amid continuous foreign fund outflows, weak trends from Asian markets and heavy selling in Tata Motors.

The 30-share BSE Sensex tanked 462.33 points to 72,202.14. The NSE Nifty declined 125.8 points to 21,929.40.

From the Sensex basket, Tata Motors dropped more than 7% despite reporting over three-fold jump in consolidated net profit at ₹17,528.59 crore for the fourth quarter ended March 31, 2024.

JSW Steel, Tata Steel, NTPC, State Bank of India, Power Grid and Mahindra & Mahindra were the other major laggards. Sun Pharma emerged as the only gainer from the pack.

In Asian markets, Seoul, Tokyo and Shanghai were trading lower while Hong Kong quoted in the positive territory. Wall Street ended mostly higher on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,117.50 crore on Friday, according to exchange data. Global oil benchmark Brent crude declined 0.31% to $82.53 a barrel.

The BSE benchmark climbed 260.30 points or 0.36% to settle at 72,664.47 on Friday. The NSE Nifty climbed 97.70 points or 0.44% to 22,055.20.

From the Sensex basket, Larsen & Toubro went lower by more than 3% after March quarter earnings.
| Photo Credit: Reuters

Benchmark equity indices declined in early trade on May 9 amid heavy foreign fund outflows and selling in Reliance Industries and Tata Consultancy Services.

Declining for the third day running, the 30-share BSE Sensex dropped 209.6 points to 73,256.79. The NSE Nifty dipped 77.7 points to 22,224.80. From the Sensex basket, Larsen & Toubro went lower by more than 3% after March quarter earnings.

Tata Consultancy Services, Tech Mahindra, ITC, Bajaj Finserv, Bharti Airtel and Reliance Industries were the other laggards. Mahindra & Mahindra, Titan, Maruti and Tata Motors were among the gainers.

“A major trend in the market now is the aggressive selling by FIIs, which has touched Rs 15,863 crore so far this month. It is important to understand that there is a new factor triggering FII selling, apart from the high US bond yields. This is the outperformance of the Chinese and Hong Kong markets,” said V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹6,669.10 crore on Wednesday, according to exchange data.

In Asian markets, Tokyo, Shanghai and Hong Kong were trading with gains while Seoul traded lower. Wall Street ended on a mixed note on May 8. Global oil benchmark Brent crude climbed 0.43% to $83.94 a barrel.

The 30-share BSE Sensex declined 45.46 points or 0.06% to settle at 73,466.39 on Wednesday. The NSE Nifty remained unchanged at 22,302.50.

From the Sensex basket, Asian Paints, UltraTech Cement, Hindustan Unilever, HDFC Bank, HCL Technologies, Bajaj Finance, Bajaj Finserv and ICICI Bank were the major laggards. 
| Photo Credit: Reuters

Benchmark Sensex declined more than 45 points in highly volatile trade on May 8, tracking weak Asian markets and continuous foreign fund outflows.

Declining for the second straight session, the 30-share BSE Sensex fell 45.46 points or 0.06% to settle at 73,466.39. During the day, it went lower by 437.93 points or 0.59% to 73,073.92. The NSE Nifty remained unchanged at 22,302.50.

From the Sensex basket, Asian Paints, UltraTech Cement, Hindustan Unilever, HDFC Bank, HCL Technologies, Bajaj Finance, Bajaj Finserv and ICICI Bank were the major laggards. On the other hand, Tata Motors, Power Grid, NTPC, Larsen & Toubro and Maruti were among the gainers.

In Asian markets, Tokyo, Shanghai and Hong Kong settled lower, while Seoul ended with gains. European markets were trading with gains. Wall Street ended on a mixed note on May 7. Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,668.84 crore on Tuesday, according to exchange data. Global oil benchmark Brent crude declined 1.65% to $81.79 a barrel.

The BSE benchmark went lower by 383.69 points or 0.52% to settle at 73,511.85 on Tuesday. The NSE Nifty declined 140.20 points or 0.62% to 22,302.50.

Benchmark equity indices declined in early trade on May 8 in line with weak trends from the Asian markets and continuous foreign fund outflows
| Photo Credit: PTI

Benchmark equity indices declined in early trade on May 8 in line with weak trends from the Asian markets and continuous foreign fund outflows.

Extending its previous day’s downtrend, the 30-share BSE Sensex declined 363.09 points to 73,148.76. The NSE Nifty dropped 116.9 points to 22,185.60.

From the Sensex basket, Asian Paints, Larsen & Toubro, Hindustan Unilever, HDFC Bank, Nestle and Mahindra & Mahindra were the major laggards.

Tata Steel, Maruti, State Bank of India and JSW Steel were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong quoted lower.

Wall Street ended on a mixed note on May 7.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,668.84 crore on May 7, according to exchange data.

Global oil benchmark Brent crude declined 0.30% to $82.91 a barrel.

Paring all its early gains, the BSE benchmark went lower by 383.69 points or 0.52% to settle at 73,511.85 on May 7. The NSE Nifty declined 140.20 points or 0.62% to 22,302.50.

From the Sensex basket, Power Grid, IndusInd Bank, Tata Motors, JSW Steel, NTPC, HCL Technologies, Tata Steel, ICICI Bank, Mahindra & Mahindra, Axis Bank, HDFC Bank and Reliance Industries were among the major laggards.
| Photo Credit: Reuters

Equity benchmark indices declined on May 7 dragged by HDFC Bank, Reliance Industries and ICICI Bank amid concerns over rich valuation of equities.

Paring all its early gains, the 30-share BSE Sensex went lower by 383.69 points or 0.52% to settle at 73,511.85. During the day, it tanked 636.28 points or 0.86% to 73,259.26. The NSE Nifty declined 140.20 points or 0.62% to 22,302.50.

From the Sensex basket, Power Grid, IndusInd Bank, Tata Motors, JSW Steel, NTPC, HCL Technologies, Tata Steel, ICICI Bank, Mahindra & Mahindra, Axis Bank, HDFC Bank and Reliance Industries were among the major laggards.

Among the gainers, Hindustan Unilever climbed more than 5%. Tech Mahindra, Nestle, ITC, Wipro, Tata Consultancy Services and Kotak Mahindra Bank were the other major gainers.

In Asian markets, Seoul, Tokyo and Shanghai settled with gains while Hong Kong ended lower. European markets were trading higher. Wall Street ended in the green on May 6. Global oil benchmark Brent crude climbed 0.23% to $83.51 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,168.75 crore on Monday, according to exchange data. The BSE benchmark edged up 17.39 points or 0.02% to settle at 73,895.54 on Monday. The NSE Nifty declined 33.15 points or 0.15% to 22,442.70.

From the Sensex basket, Hindustan Unilever, Nestle, ITC, Asian Paints, State Bank of India and Tech Mahindra were the major gainers.
| Photo Credit: Reuters

Equity benchmark indices began the trade on an optimistic note on May 7 but later encountered volatile trends and were trading flat.

The 30-share BSE Sensex climbed 123.82 points to 74,019.36 in early trade. The NSE Nifty went up by 56.35 points to 22,499.05. Later, both the benchmark indices faced volatility and were trading with marginal gains.

From the Sensex basket, Hindustan Unilever, Nestle, ITC, Asian Paints, State Bank of India and Tech Mahindra were the major gainers. HCL Technologies, Power Grid, Mahindra & Mahindra and Tata Steel were among the laggards.

In Asian markets, Seoul and Tokyo traded with gains while Shanghai and Hong Kong quoted lower. Wall Street ended in the green on April 6. Global oil benchmark Brent crude climbed 0.29% to $83.57 a barrel.

“Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,168.75 crore on Monday,” according to exchange data. The BSE benchmark edged up 17.39 points or 0.02% to settle at 73,895.54 on April 6. The NSE Nifty declined 33.15 points or 0.15% to 22,442.70.

From the Sensex basket, Mahindra & Mahindra, Maruti, Tata Motors, UltraTech Cement, HCL Technologies and Nestle were the major gainers.
| Photo Credit: Reuters

Equity benchmark indices extended their rally in early trade on April 30, following optimism in global markets and fresh foreign fund inflows.

The 30-share BSE Sensex climbed 152.31 points to 74,823.59 in morning deals. The NSE Nifty went up by 52.9 points to 22,696.30.

From the Sensex basket, Mahindra & Mahindra, Maruti, Tata Motors, UltraTech Cement, HCL Technologies and Nestle were the major gainers. Bharti Airtel, Tech Mahindra, HDFC Bank and State Bank of India were among the laggards.

In Asian markets, Seoul, Tokyo and Hong Kong were quoting in the positive territory while Shanghai traded lower. Wall Street ended with gains on April 29.

“Today, the outlook remains positive with factors like net buying by FIIs (Foreign Institutional Investors) and DIIs (Domestic Institutional Investors), WTI oil slipping below $83 a barrel, and anticipation of a pre-election rally. Focus shifts to the FOMC (Federal Open Market Committee) meeting decision on May 1 and the April jobs report on May 3,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Limited.

Global oil benchmark Brent crude declined 0.11% to $88.30 a barrel. Foreign Institutional Investors (FIIs) turned buyers on Monday after continuous offloading. They bought equities worth ₹169.09 crore, according to exchange data.

The BSE benchmark jumped 941.12 points or 1.28% to settle at 74,671.28 on Monday. The NSE Nifty went up by 223.45 points or 1 per cent to 22,643.40.

From the Sensex basket, Tech Mahindra jumped more than 12.50%.
| Photo Credit: Reuters

Equity benchmark indices climbed in early trade on April 26, extending their rally for the sixth day running, on heavy buying in Tech Mahindra and firm trends in Asian markets.

The 30-share BSE Sensex climbed 176.47 points to 74,515.91 in early trade. The NSE Nifty went up by 50.05 points to 22,620.40.

From the Sensex basket, Tech Mahindra jumped more than 12.50% after the IT services company’s CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins.

Tech Mahindra CEO Mohit Joshi said the company hopes to come back to growth in H2 FY25. Tata Steel, Wipro, JSW Steel, HCL Technologies, HDFC Bank and ITC were among the other major gainers. Bajaj Finance, Bajaj Finserv, Mahindra & Mahindra and Nestle were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory. Wall Street ended lower on April 25. Global oil benchmark Brent crude climbed 0.33% to $89.30 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,823.33 crore on Thursday, according to exchange data. The BSE benchmark climbed 486.50 points or 0.66% to settle at 74,339.44 on Thursday. The NSE Nifty advanced 167.95 points or 0.75% to 22,570.35.