The BSE benchmark climbed 391.26 points or 0.49% to settle at a new closing peak of 80,351.64 on Tuesday. File.
| Photo Credit: PTI

Equity benchmark indices declined after hitting their fresh record high levels in early trade on July 10 amid weak global market trends.

The 30-share BSE Sensex climbed 129.72 points to hit a new all-time high of 80,481.36 during the opening trade. But, soon the benchmark retreated and declined 207.47 points to 80,144.17.

The NSE Nifty also hit its fresh lifetime high of 24,461.05 in opening deals but pared all the gains and dipped 49.6 points to 24,383.60.

Among the Sensex pack, Mahindra & Mahindra, JSW Steel, Kotak Mahindra Bank, Axis Bank, State Bank of India and ICICI Bank were the biggest laggards.

Maruti, Adani Ports, NTPC and Bharti Airtel were among the winners.

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

US markets ended on a mixed note on Tuesday.

Global oil benchmark Brent crude declined 0.24% to $84.46 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 314.46 crore on Tuesday, according to exchange data.

The BSE benchmark climbed 391.26 points or 0.49% to settle at a new closing peak of 80,351.64 on Tuesday.

The NSE Nifty went up by 112.65 points or 0.46% to 24,433.20 — its record closing high.

Investors’ wealth went up ₹1.56 lakh crore on July 8. File 
| Photo Credit: Reuters

The market capitalisation of BSE-listed firms on Kuly 8 hit a fresh lifetime high of ₹451.27 lakh crore on a day when the BSE Sensex reached a record closing level.

The 30-share BSE benchmark climbed 391.26 points or 0.49% to settle at a new closing peak of 80,351.64. During the day, it jumped 436.79 points, or 0.54%, to hit a new lifetime high of 80,397.17.

The market capitalisation of BSE-listed firms hit an all-time high of ₹4,51,27,853.30 crore ($5.41 trillion) and investors’ wealth also went up ₹1.56 lakh crore on July 8.

“After consolidating in the last few days, markets bounced back to make fresh highs amid buying seen in index heavyweights,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Top gainers and losers

Among Sensex components, Maruti Suzuki India jumped 6.60% amid reports that the U.P. Government waived registration taxes on hybrid cars as part of its initiative to promote environmentally friendly vehicles in the State. Mahindra & Mahindra, ITC, Sun Pharma, Titan, Tata Motors, and Nestle were the other big gainers. Reliance Industries, Kotak Mahindra Bank, Bajaj Finance, and JSW Steel were among the laggards.

Among the indices, auto jumped 2.17%, consumer durables (2.01%), realty (1.23%), consumer discretionary (1.21%), healthcare (1%), and utilities (0.76%). Telecommunication, capital goods, and teck were the laggards.

A total of 2,010 stocks advanced while 1,924 declined and 92 remained unchanged on the BSE. Also, 320 stocks hit their upper circuit limit while 242 firms hit the lower circuit levels.

“Both domestic and global factors continue to drive the market momentum. Currently, consumption sectors like FMCG and auto are leading the gains, buoyed by progress in monsoon and kharif sowing,” Vinod Nair, Head of Research, Geojit Financial Services, said.

Mixed cues from Asian markets added to the muted trend in domestic equities. File.
| Photo Credit: PTI

Equity benchmark indices declined in early trade on July 8 as investors opted to book profits after the recent record rally in equities.

Mixed cues from Asian markets also added to the muted trend in domestic equities.

After beginning the trade on a weak note, the 30-share BSE Sensex further declined 204.39 points to 79,792.21. The NSE Nifty dipped 40.75 points to 24,283.10.

Among the Sensex pack, Titan, Asian Paints, Adani Ports, Bajaj Finserv, UltraTech Cement and Maruti were the biggest laggards.

Tata Motors, Tech Mahindra, ICICI Bank and State Bank of India were among the gainers.

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

US markets ended with gains on Friday.

In a volatile session on Friday, the broader NSE Nifty continued its record-breaking run and inched up 21.70 points or 0.09 per cent to close at its lifetime high of 24,323.85. The BSE benchmark, however, dropped 53.07 points or 0.07 per cent to settle at 79,996.60.

Global oil benchmark Brent crude dipped 0.09 per cent to USD 86.46 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,241.33 crore on Friday, according to exchange data.

The Sensex breached the historic 80,000 mark for the first time ever and the Nifty hit a fresh record peak of 24,292.15 on July 3, 2024.
| Photo Credit: PTI

Equity benchmark indices Sensex and Nifty ticked higher to close at fresh all-time high levels on July 4, following buying in market heavyweights ICICI Bank, Infosys and TCS amid a largely positive trend in global equities.

The 30-share BSE Sensex scaled an intraday record high of 80,392.64 in early trade. The index pared most of the gains later due to volatility and profit-taking by investors at record levels. Sensex closed 62.87 points or 0.08% higher at 80,049.67, its all-time closing high.

The broader Nifty also hit an intra-day record high of 24,401 in early trade before closing almost flat. The 50-issue index rose by 15.65 points or 0.06% to settle at a record 24,302.15 with 23 of its shares closing higher and 27 with losses.

“The defensive bet on large caps like IT and pharma gained momentum due to the diminishing U.S. inflationary pressure, improvement in QoQ earnings outlook and a resultant sharp fall in the U.S. 10-year bond yield.

“The buoyancy in government spending and the green shoots in corporate earnings are now supporting the premium valuation. Return of FIIs to the domestic market and expectation of a rate cut in September are supporting market sentiment,” Vinod Nair, Head of Research at Geojit Financial Services, said.

Among Sensex shares, HCL Technologies, ICICI Bank, Tata Motors, Sun Pharmaceuticals, Tata Consultancy Services, Infosys, Kotak Mahindra Bank and Mahindra and Mahindra were the gainers.

In contrast, HDFC Bank, Bajaj Finance, Larsen & Toubro, Tech Mahindra, UltraTech Cement and IndusInd Bank were among the laggards.

Analysts said that stock markets traded within a narrow range and ended nearly unchanged.

“The Nifty has approached its immediate target of 24,500 and appears slightly overextended. It would be prudent to take some profits and wait for a potential dip before considering new long positions in the index,” Ajit Mishra – SVP, Research, Religare Broking Ltd said.

In the broader market, the BSE Smallcap gauge jumped 0.62% and the midcap index climbed 0.60%.

Among the indices, healthcare soared by 1.17%, IT jumped by 1.12%, tech by 0.98 %, auto by 0.88% and telecommunication rose by 0.73%.

However, consumer durables fell by 0.22%, FMCG (0.15%), financial services (0.13%), and Oil & Gas (0.02%).

A total of 2,185 stocks advanced while 1,742 declined and 94 remained unchanged on the BSE.

As many as 23 Nifty shares advanced, 27 declined on the exchange.

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

European markets were trading in the green territory in mid-session deals.

U.S. markets ended higher on Wednesday during the shortened trading session. Stock exchanges will remain closed on Thursday on account of Independence Day.

Global oil benchmark Brent crude fell 0.52% to $86.89 a barre.

Foreign Institutional Investors (FIIs) bought equities worth ₹5,483.63 crore on Wednesday, according to exchange data HG MR

In a significant milestone for the Indian stock market, the BSE’s Sensex surpassed the 80,000 mark during intra-day trades on Wednesday, July 3. The milestone comes after the index gained the last 10,000 points in nearly seven months or 139 trading sessions, after it first reached the 70,000 points mark on December 11, 2023. This is also the fastest 10,000 rally for the BSE Sensex.

The broader Nifty 50 index also experienced a significant rise, adding 162.65 points or 0.67 per cent to close at an all-time high of 24,286.5.

The Sensex finally closed at 79,986.8 on Wednesday, up by  545.35 points or 0.69 per cent, following some correction from the peak of 80,074 during the session. The upward momentum continued on Thursday too with the index opening well above the 80,000 mark at around 80,300.

The surge in domestic indices was largely propelled by large-cap stocks, particularly in the financial sector. HDFC Bank shares saw a notable rise, driven by an expected increase in its weight in the MSCI Emerging Markets Index following the MSCI’s August review.

Additionally, gains in Reliance Industries shares and other banking stocks contributed to the overall positive sentiment in the market.

The Sensex, which was launched in January 1986, has a history of reaching significant milestones. It crossed the 10,000 level during intraday deals on February 6, 2006, reached 20,000 on November 5, 2007, and achieved the 40,000 mark on July 5, 2019. The journey from 40,000 to 80,000 took just five years, highlighting the growth of the Indian stock market.

The recent rally can be attributed to several factors, including expectations of continuity in government policies, a higher economic growth forecast, and robust domestic fund buying. These elements have combined to create a bullish fervour among investors, pushing the indices to new heights.

Supportive global data and the progress of the monsoon in the country have boosted investor confidence, leading to the Sensex opening more than 300 points higher on Thursday.

As the market continues to respond to these positive signals, investors are closely watching for further developments that could sustain this upward momentum.

Amid the ongoing surge in Indian equity markets, financial experts are advising mutual fund investors to exercise caution and avoid making substantial investments in the riskier segments of the market.

A view of the BSE building in Mumbai.
| Photo Credit: Paul Noronha

Benchmark BSE Sensex breached the historic 80,000 level intraday for the first time while Nifty raced more than 162 points to a fresh lifetime high on Wednesday following heavy buying in banking and FMCG shares amid firm global market trends.

The 30-share Sensex hit the historic 80,000 mark for the first time earlier in the day. It surged 632.85 points or 0.79% to hit a record intraday high of 80,074.30. The index later closed near the 80,000 level at 79,986.80, up by 545.35 points or 0.69% over the last close.

The BSE Sensex breached the 78,000 level on June 25 and 79,000 for the first time on June 27.

The Nifty climbed 162.65 points or 0.67% to an all-time high of 24,286.50. During the day, it zoomed 183.4 points or 0.76% to hit a fresh intraday record peak of 24,307.25.

Among the Sensex pack, Adani Ports, Kotak Mahindra Bank, HDFC Bank, Axis Bank, IndusInd Bank, State Bank of India, Power Grid, JSW Steel, Bajaj Finance and Tata Steel were the biggest gainers.

Tata Consultancy Services, Titan, Reliance Industries, Tata Motors and Larsen & Toubro were the laggards.

In Asian markets, Seoul, Tokyo and Hong Kong settled in the positive territory while Shanghai ended lower. European markets were trading with gains. U.S. markets ended higher on Tuesday.

The BSE benchmark declined 34.74 points or 0.04% to settle at 79,441.45 in a volatile trade on Tuesday. During the day, it jumped 379.68 points or 0.47% to hit a record peak of 79,855.87.

The Nifty declined by 18.10 points or 0.07% to 24,123.85. Intra-day, it climbed 94.4 points or 0.39% to hit a lifetime high of 24,236.35.

Global oil benchmark Brent crude climbed 0.09% to $86.32 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,000.12 crore on Tuesday, according to exchange data.

Brokers react after the Sensex surge in early morning trade. File photo
| Photo Credit: ANI

Equity benchmark indices started the trade on an optimistic note on Wednesday, July 3, 2024, with the Sensex breaching the historic 80,000-mark for the first time ever and the Nifty hitting its fresh lifetime high, amid heavy buying in bank stocks and firm global market trends.

The 30-share BSE Sensex jumped 597.77 points to hit a new lifetime high of 80,039.22. The Nifty climbed 168.3 points to hit a fresh record peak of 24,292.15.

Among the Sensex pack, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel and Nestle were the biggest gainers.

Tata Consultancy Services, Sun Pharma, Infosys and Tata Motors were among the laggards.

In Asian markets, Seoul, Tokyo and Hong Kong were trading in the positive territory while Shanghai quoted lower.

US markets ended higher on Tuesday.

The BSE benchmark declined 34.74 points or 0.04 per cent to settle at 79,441.45 in a volatile trade on Tuesday. During the day, it jumped 379.68 points or 0.47 per cent to hit a record peak of 79,855.87.

The Nifty declined by 18.10 points or 0.07 per cent to 24,123.85. Intra-day, it climbed 94.4 points or 0.39 per cent to hit a lifetime high of 24,236.35.

Global oil benchmark Brent crude climbed 0.56 per cent to USD 86.72 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,000.12 crore on Tuesday, according to exchange data.

Photo used for representation purpose only.
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty hit their fresh lifetime high levels in early trade on July 2, amid a rally in global markets and buying in IT stocks.

The 30-share BSE Sensex jumped 379.68 points to hit a record peak of 79,855.87 in early trade. The Nifty climbed 94.4 points to hit a lifetime high of 24,236.35.

Among the Sensex pack, HCL Technologies, Tata Consultancy Services, Infosys, Bharti Airtel, HDFC Bank and Power Grid were the biggest gainers.

Tata Motors, Bajaj Finance, Kotak Mahindra Bank and ICICI Bank were among the laggards.

The benchmark indices opened on a bullish note and hit all-time high levels, but soon profit booking emerged, the indices pared early gains and were trading in the negative territory.

The BSE Sensex was trading down 77.93 points, or 0.10 per cent, to 79,398.26 points. The broader NSE Nifty fell 25.65 points, or 0.11 per cent, to 24,116.30 points.

On Monday, the BSE benchmark settled higher by 443.46 points or 0.56 per cent at an all-time high of 79,476.19. The Nifty climbed 131.35 points or 0.55 per cent to settle at a fresh lifetime high of 24,141.95.

In Asian markets, Tokyo, Shanghai and Hong Kong were trading in the positive territory on Tuesday, while Seoul quoted lower.

US markets ended in the green on Monday.

India’s gross GST collection increased 8 per cent to Rs 1.74 lakh crore in June, sources said on Monday.

Global oil benchmark Brent crude climbed 0.23 per cent to USD 86.80 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 426.03 crore on Monday, according to exchange data.

FPIs also invested ₹14,955 crore in the debt market in June. 
| Photo Credit: PTI

After two months of net outflow, foreign investors turned buyers in June, infusing ₹26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets.

“Looking ahead, attention will gradually shift towards the Budget and Q1 FY25 earnings, which could determine the sustainability of FPI flows,” Vipul Bhowar, director, Listed Investments, Waterfield Advisors, said.

According to the data with the depositories, Foreign Portfolio Investors (FPIs) have made a net infusion of ₹26,565 crore in equities this month.

This came following a net outflow of ₹25,586 crore in May on poll jitters and more than ₹8,700 crore in April on concerns over a tweak in India’s tax treaty with Mauritius and a sustained rise in U.S. bond yields.

Before that, FPIs made a net investment of ₹35,098 crore in March and ₹1,539 crore in February, while they took out ₹25,743 crore in January. The net outflow now stood at ₹3,200 crore in the month, data with the depositories showed.

Geojit Financial Services Chief Investment Strategist V. K. Vijayakumar said political stability, despite the BJP not getting a majority on its own, and the sharp rebound in markets aided by steady domestic institutional investors (DIIs) buying and aggressive retail buying, has forced the FPIs to turn buyers in India.

“However, the FPI buying has been focussed on a few specific stocks rather than being widespread across the market or sectors. This is because Indian equities are still considered overvalued by FPIs,” Mr. Bhowar said.

They are favouring the financial, auto, capital goods, real estate, and select consumer sectors.

“With government stability assured, impressive GDP performance and forecasts, stable consumer price index, ample forex reserves and robust banking sector health, I anticipate a steady and substantial FPI inflow,” Kislay Upadhyay, smallcase Manager & Founder Fidelfolio, said.

Additionally, FPIs invested ₹14,955 crore in the debt market in June. With this, FPIs’ investment in the debt market reached ₹68,624 crore in 2024 so far. India’s inclusion in the JP Morgan Bond Index is positive.

In the long term, this will reduce the cost of borrowing for the government and the cost of capital for corporates. This is positive for the economy and therefore, for the equity and debt market.

The BSE Sensex recorded the best monthly gain in June by climbing 7.14%. The Sensex breached the historic 79,000 mark on June 27.
| Photo Credit: Reuters

Nine of the top-10 most valued firms together added ₹2,89,699.42 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in line with a rally in equities. Last week, the BSE benchmark jumped 1,822.83 points or 2.36%.

The BSE Sensex recorded the best monthly gain in June by climbing 7.14%. The Sensex breached the historic 79,000 mark on June 27.

While Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, Hindustan Unilever and ITC were the gainers, Life Insurance Corporation of India (LIC) emerged as the laggard.

The Market Capitalisation (mcap) of Reliance Industries jumped ₹1,52,264.63 crore to ₹21,18,951.20 crore. TCS added ₹34,733.64 crore taking its valuation to ₹14,12,845.09 crore.

The mcap of ICICI Bank soared ₹30,286.99 crore to ₹8,44,201.88 crore and that of Bharti Airtel surged ₹18,267.7 crore to ₹8,22,530.35 crore. The market valuation of Infosys climbed ₹14,656.3 crore to ₹6,50,602.10 crore and that of HDFC Bank zoomed ₹13,808.74 crore to ₹12,80,865.43 crore. State Bank of India’s valuation rallied ₹11,111.14 crore to ₹7,57,565.68 crore.

The mcap of Hindustan Unilever went up by ₹7,953.37 crore to ₹5,81,570.83 crore and that of ITC climbed ₹6,616.91 crore to ₹5,30,475.82 crore. However, the valuation of LIC tumbled ₹22,042.61 crore to ₹6,25,573.90 crore.

Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.