Representational image of Bombay Stock Exchange in Mumbai File
| Photo Credit: PTI

The 30-share BSE Sensex benchmark increased by 464.66 points, or 0.55%, to 84,335.98 in early trade. The 50-share NSE Nifty appreciated by 134.70 points, or 0.52%, to 25,829.65.
| Photo Credit: Reuters

Bharti Airtel, Nestle, Adani Ports and Hindustan Unilever were the gainers. File
| Photo Credit: AFP

Benchmark indices Sensex and Nifty slumped in early trade on Friday dragged down by metal stocks, foreign fund outflows and weak global cues.

The 30-share BSE benchmark Sensex tumbled 412.8 points to 80,877.16 in early trade. The NSE Nifty tanked 129.85 points to 24,418.85.

Among the 30-share Sensex blue-chip pack, Tata Steel, JSW Steel, IndusInd Bank, Axis Bank, Mahindra & Mahindra, Larsen & Toubro, State Bank of India and Reliance Industries were the biggest laggards.

Bharti Airtel, Nestle, Adani Ports and Hindustan Unilever were the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,560.01 crore on Thursday, according to exchange data.

Retail inflation declined in November to 5.48 per cent and came within the Reserve Bank’s comfort zone mainly due to easing food prices, creating headroom for a rate cut at the central bank’s rate-setting panel meeting under new Governor Sanjay Malhotra in February.

The Consumer Price Index (CPI) based headline inflation was at 6.21 per cent in October and 5.55 per cent in November 2023.

India’s industrial production (IIP) growth slowed to 3.5 per cent year-on-year in October 2024, mainly due to poor performance of mining, power and manufacturing, as per official data released on Thursday.

“In the near-term the market has a headwind and a tailwind. The headwind is the resumption of selling by the FIIs who sold stocks for Rs 3,560 crore yesterday. Given the high valuations in India, FIIs are likely to sell more at every market rise.

“The tailwind which can support the market is the declining inflation,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

In Asian markets, Tokyo, Shanghai and Hong Kong were trading lower while Seoul quoted higher.

Wall Street ended in the negative territory on Thursday.

“The Federal Reserve’s upcoming interest rate decision on December 18 has added to market uncertainty. FIIs sold heavily, dampening market sentiment further,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Global oil benchmark Brent crude dipped 0.04 per cent to USD 73.38 a barrel.

The 30-share BSE benchmark declined 236.18 points or 0.29 per cent to settle at 81,289.96 on Thursday. The Nifty dropped 93.10 points or 0.38 per cent to 24,548.70.

The BSE benchmark Sensex tanked 984.23 points or 1.25% to settle at 77,690.95, extending its previous day’s fall. File. 
| Photo Credit: Reuters

Benchmark indices Sensex and Nifty tumbled more than 1% on Wednesday (November 13, 2024) amid retail inflation soaring to a 14-month high of 6.21% in October and unabated foreign fund outflows.

Muted quarterly earnings, selling in frontline stocks — HDFC Bank, Reliance Industries — along with weak trends in the US and Asian peers also hit markets’ sentiment, traders said.

The BSE benchmark Sensex tanked 984.23 points or 1.25% to settle at 77,690.95, extending its previous day’s fall. During the day, it slumped 1,141.88 points or 1.45% to 77,533.30.

Registering its fifth day of decline, the NSE Nifty tumbled 324.40 points or 1.36% to 23,559.05.

From the 30-share Sensex pack, Mahindra & Mahindra, Tata Steel, Adani Ports, JSW Steel, IndusInd Bank, Reliance Industries, HDFC Bank and Kotak Mahindra Bank were the biggest laggards.

Tata Motors, NTPC, Hindustan Unilever, Asian Paints and Infosys were the gainers.

The latest data showed retail inflation breached the Reserve Bank’s upper tolerance level, soaring to a 14-month high of 6.21% in October, mainly on account of rising food prices.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,024.31 crore on Tuesday, according to exchange data.

In Asian markets, Seoul, Tokyo and Hong Kong settled lower while Shanghai ended in the positive territory.

European markets were trading higher.

The U.S. markets ended in the negative territory on Tuesday.

Global oil benchmark Brent crude climbed 0.93% to $72.56 a barrel.

The BSE benchmark tumbled 820.97 points or 1.03% to settle at 78,675.18 on Tuesday. The Nifty tanked 257.85 points or 1.07% to 23,883.45.

Image used for representative purpose only
| Photo Credit: Reuters

Equity benchmark indices declined in early trade on Wednesday (November 13, 2024) amid retail inflation soaring to a 14-month high of 6.21% in October and unabated foreign fund outflows.

Muted quarterly earnings and weak trends in global markets were also the spoilsport for the markets, traders said.

The BSE benchmark Sensex declined 239.69 points to 78,435.49 in early trade. The NSE Nifty went down 103.15 points to 23,780.30.

From the 30-share Sensex pack, Mahindra & Mahindra, Maruti, Tata Steel, Sun Pharma, Nestle, and ITC were the biggest laggards.

Titan, HDFC Bank, Bharti Airtel, and NTPC were among the gainers.

Retail inflation breached the Reserve Bank’s upper tolerance level, soaring to a 14-month high of 6.21% in October mainly on account of rising food prices.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,024.31 crore on Tuesday, according to exchange data.

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

The U.S. markets ended in the negative territory on Tuesday.

Global oil benchmark Brent crude climbed 0.35% to USD 72.14 a barrel. The BSE benchmark tumbled 820.97 points or 1.03% to settle at 78,675.18 on Tuesday. The Nifty tanked 257.85 points or 1.07% to 23,883.45.

Representational file image.
| Photo Credit: ANI

A sharp fall in the equity market made investors poorer by ₹5.29 lakh crore on Tuesday when the BSE benchmark Sensex tumbled over 800 points.

A host of negative triggers — muted quarterly earnings, continuous foreign fund outflows and weak trends in Asian and European markets — dragged the benchmark indices lower.

The BSE benchmark gauge tumbled 820.97 points or 1.03% to settle at 78,675.18. During the day, it plunged 948.31 points or 1.19% to 78,547.84.

The market capitalisation of BSE-listed companies eroded by ₹5,29,525.42 crore to ₹4,37,24,562.57 crore ($5.18 trillion).

“Domestic earnings disappointment and weak Asian & European market cues fuelled another round of massive correction as key benchmark indices slumped. The expensive valuations of Indian markets and the rising bond yields coupled with worries of Trump’s likely protectionist policies going ahead has continued to fuel pessimism amongst the local investors,” Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.

From the 30-share Sensex pack, NTPC, HDFC Bank, Asian Paints, State Bank of India, Tata Motors, Maruti, JSW Steel and Power Grid were among the major laggards.

On the other hand, Infosys, Sun Pharma, ICICI Bank and Tata Consultancy Services were the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,306.88 crore on Monday, according to exchange data.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the negative territory.

European equity markets were also trading in the red. Wall Street ended higher on Monday.

The BSE smallcap gauge tanked by 1.26% and midcap index declined by 0.98%.

Among sectoral indices, power slumped the most 2.79%, followed by utilities (2.20%), capital goods (2.14%), auto (1.95%), industrials (1.82%) and metal (1.52%).

Realty and Focused IT were the gainers.

A total of 2,742 stocks declined while 1,226 advanced and 93 remained unchanged on the BSE.

Bombay Stock Exchange (BSE) building in Mumbai
| Photo Credit: AP

Benchmark equity indices Sensex and Nifty fell in early trade on Thursday (November 7, 2024) after two days of rally as investors remained on the sidelines ahead of the U.S. Federal Reserve interest rate decision.

Market analysts said unabated foreign fund outflows and mixed global cues further dented investor sentiments.

The BSE Sensex declined 237.93 points to 80,140.20 in early trade. The NSE Nifty dropped 109.1 points to 24,374.95.

From the 30-share Sensex pack, Bajaj Finserv, UltraTech Cement, Power Grid, ICICI Bank, Bajaj Finance, Kotak Mahindra Bank, Adani Ports and Nestle were among the biggest laggards.

Tata Steel climbed over 1% after the firm reported a net profit of ₹758.84 crore for the September 2024 quarter.

HCL Technologies, Tata Consultancy Services and JSW Steel were also the gainers from the pack.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,445.59 crore on Wednesday, according to exchange data.

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

Wall Street ended significantly higher on Wednesday.

“In overnight trade, Wall Street hit record highs, driven by optimism surrounding Trump’s presidency and hopes for increased fiscal spending and tax cuts to boost growth,” Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.

Republican leader Donald Trump won the U.S. presidential election for a second term, handing a shock defeat to his Democratic rival Kamala Harris, in one of the most remarkable comebacks in American electoral history, by rising from the political wilderness four years after his eviction from the White House and subsequent failed attempt to overturn the 2020 election outcome.

Global oil benchmark Brent crude climbed 0.92% to USD 75.61 a barrel.

The BSE benchmark jumped 901.50 points or 1.13% to settle at 80,378.13 on Wednesday. The Nifty soared 270.75 points or 1.12% to 24,484.05.