A view of the the Bombay Stock Exchange (BSE). File photo
| Photo Credit: REUTERS

Equity benchmark indices Sensex and Nifty climbed in early trade on Monday (October 14, 2024) helped by buying in banking and financial stocks amid a positive trend in global equities.

The 30-share BSE Sensex jumped 460.38 points or 0.57 per cent to 81,841.74 in early trade. The NSE Nifty climbed 138.80 points or 0.56 per cent to 25,103.05.

Among the 30 Sensex companies, Larsen & Toubro, JSW Steel, HDFC Bank, Tech Mahindra, Adani Ports & Special Economic Zone, IndusInd Bank, NTPC and Infosys were the gainers.

In contrast, Axis Bank, Bajaj Finance, UltraTech Cement, Maruti Suzuki India, Tata Consultancy Services (TCS), Asian Paints, Nestle India and Hindustan Unilever were among the laggards.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,162.66 crore on Friday, while Domestic Institutional Investors (DIIs) bought equities worth ₹3,730.87 crore, according to exchange data.

“This month, through 11th October, FPIs have sold equity for ₹58,710 crore. This massive selling didn’t have a serious impact on the market since the entire FPI selling has been absorbed by DIIs who are receiving sustained fund inflows.

“This trend of FII selling and DII buying is likely to sustain in the near-term since Chinese stocks continue to be cheap compared to the elevated valuations in India,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

In Asian markets, Tokyo, Shanghai and Seoul were trading in the green territory while Hong Kong was in the negative.

“IT and banking stocks are likely to remain resilient on the back of expected good Q2 numbers. However, there is only limited scope for the market to move up sharply from here,” Vijayakumar said.

The Wall Street ended with gains on Friday.

The uncertainty surrounding the US presidential elections next month also is likely to weigh on markets along with the geopolitical tensions in the Middle East, he added.

Global oil benchmark Brent Crude fell 1.09 per cent to USD 78.18 a barrel.

On Friday, the BSE Sensex fell 230.05 points to close at 81,381.36, and the NSE Nifty slipped 34.20 points to settle at 24,964.25.

Equity benchmark indices began the trade on an optimistic note on Wednesday (August 14, 2024) after two days of plunge, tracking a rally in the US markets, amid hopes of rates cut by the Fed in September.

The 30-share BSE Sensex climbed 144.92 points to 79,100.95 in early trade. The NSE Nifty went up 57.5 points to 24,196.50.

From the 30 Sensex firms, HCL Technologies, Mahindra & Mahindra, Tech Mahindra, Tata Motors, State Bank of India and NTPC were the biggest gainers.

UltraTech Cement, ICICI Bank, Adani Ports and Hindustan Unilever were among the laggards.

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

The US markets ended significantly higher on Tuesday.

“The PPI (Producer Price Inflation) numbers from the US indicate softening of inflation, and a confirmation of this declining trend is likely from the CPI numbers coming today. The US market moved up yesterday in anticipation of this and a rate cut by the Fed in September,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,107.17 crore on August 13. 204, according to exchange data, while Domestic Institutional Investors (DIIs) bought equities worth ₹1,239.96 crore.

Global oil benchmark Brent crude climbed 0.61 per cent to USD 81.18 a barrel.

The BSE benchmark tumbled 692.89 points or 0.87 per cent to settle at 78,956.03 on Tuesday. The NSE Nifty slumped 208 points or 0.85 per cent to 24,139.

The bull statue at the Bombay Stock Exchange building, in Mumbai.
| Photo Credit: PTI

Equity benchmark indices climbed on Wednesday, July 31, 2024, as the markets saw volatile trading amid buying in bank stocks in tandem with mixed global trends.

Rallying for the fourth day running, the 30-share BSE Sensex climbed 116.94 points to 81,572.34 in early trade. The NSE Nifty went up 33.75 points to 24,891.05.

From the Sensex pack, NTPC, Asian Paints, JSW Steel, Bharti Airtel, ITC, ICICI Bank, Adani Ports, and Special Economic Zone and Tech Mahindra were the major gainers.

Power Grid, Tata Motors, IndusInd Bank, Axis Bank, Reliance Industries and Kotak Mahindra Bank were among the laggards.

In the Asian markets, Shanghai, Hong Kong, and Seoul are trading higher while Tokyo is quoting in the negative territory.

The U.S. markets settled on a mixed note on Tuesday.

“The global cues are likely to be supportive on expectations of a rate cut from the US Federal Reserve (Fed) in September. The Fed commentary expected tonight is likely to indicate the possibility of rate cut in September.

“It is time for investors to take a long-term call on the market and moderate their expectations to realistic levels. At this juncture in the market safety is important,” V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. Chasing super normal returns from the broader market will be a risky game, he said.

Global oil benchmark Brent crude is rose 1.49 per cent to USD 79.80 a barrel.

Foreign institutional investors offloaded equities worth ₹5,598.64 crore on Tuesday, according to exchange data.

On Tuesday, the 30-share BSE Sensex closed higher by 99.56 points, or 0.12 per cent, at 81,455.40 — its all-time closing high.

The NSE Nifty edged up 21.20 points, or 0.09 per cent, to settle at an all-time closing high of 24,857.30.

A sub-broker makes flower offerings before the statue of a bull outside the Bombay Stock Exchange (BSE) ahead of trading in Mumbai. File photo
| Photo Credit: The Hindu

Equity benchmark indices maintained their winning momentum for the third day running in early trade on Tuesday, July 16, 2024, with the Nifty hitting its new all-time peak, amid foreign fund inflows and a rally in the US markets.

The 30-share BSE Sensex climbed 185.55 points to 80,850.41 in early trade. The NSE Nifty rallied 63.35 points to hit a new all-time peak of 24,650.05.

Among the Sensex pack, Bharti Airtel, Mahindra & Mahindra, Hindustan Unilever, Tata Steel, Adani Ports, Infosys, ICICI Bank and Titan were the biggest winners.

Power Grid, Larsen & Toubro, Kotak Mahindra Bank and Axis Bank were among the laggards.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,684.78 crore on Monday, according to exchange data.

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

US markets ended in positive territory on Monday.

Global oil benchmark Brent crude dipped 0.27 per cent to USD 84.62 a barrel.

The BSE benchmark climbed 145.52 points or 0.18 per cent to settle at a new record high of 80,664.86 on Monday.

The NSE Nifty rallied 84.55 points or 0.35 per cent to settle at an all-time closing high of 24,586.70.

The bull statue at the Bombay Stock Exchange building, in Mumba.
| Photo Credit: PTI

Equity benchmark indices rallied in early trade on Friday, July 12, 2024, amid buying in IT stocks after TCS announced its June quarter earnings.

The 30-share BSE Sensex climbed 226.11 points to 80,123.45 in early trade. The NSE Nifty went up by 82.1 points to 24,398.05.

Among the Sensex pack, Tata Consultancy Services climbed over 2 per cent after the country’s largest IT services player reported 8.7 per cent growth in the June quarter net profit at ₹12,040 crore.

Infosys, Axis Bank, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and HCL Technologies were the other major gainers.

Maruti, Asian Paints, Bharti Airtel and ITC were among the laggards.

“The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

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

US markets ended mostly lower on Thursday.

Global oil benchmark Brent crude climbed 0.25 per cent to USD 85.59 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,137.01 crore on Thursday, according to exchange data.

Retreating from early highs, the BSE benchmark closed lower by 27.43 points or 0.03 per cent at 79,897.34 on Thursday. The NSE Nifty edged down 8.50 points or 0.03 per cent to settle at 24,315.95.

After an initial peak, both the benchmark indices encountered volatile trends and were trading between highs and lows.
| Photo Credit: REUTERS

Stock market benchmark indices climbed in early trade on Wednesday, June 26, 2024, with the Sensex hitting its fresh all-time high level, but soon equities faced volatile trends and were trading flat amid the emergence of profit-taking.

The 30-share BSE Sensex climbed 134.64 points to hit a new all-time high of 78,188.16 in early trade. The Nifty went up by 28.2 points to 23,749.50.

However, later both the benchmark indices encountered volatile trends and were trading between highs and lows.

Among the 30 Sensex companies, UltraTech Cement, ICICI Bank, Larsen & Toubro, Kotak Mahindra Bank, NTPC, Bajaj Finance and Tata Motors were the biggest gainers.

Mahindra & Mahindra, HDFC Bank, Tata Steel and JSW Steel were among the laggards.

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

US markets ended mostly higher on Tuesday.

Global oil benchmark Brent crude climbed 0.41 per cent to USD 85.36 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,175.91 crore on Tuesday, according to exchange data.

The BSE benchmark jumped 712.44 points or 0.92 per cent to settle at a new closing peak of 78,053.52 on Tuesday. The Nifty went up by 183.45 points or 0.78 per cent to settle at a record closing peak of 23,721.30.

A view of Bombay Stock Exchange (BSE) in Mumbai.
| Photo Credit: REUTERS

Benchmark equity indices tumbled in early trade on Monday, June 24, 2024, amid weak trends from global markets and fresh foreign fund outflows.

Profit-taking after a record-breaking rally also put pressure on the benchmark indices.

The 30-share BSE Sensex declined 463.96 points to 76,745.94. The Nifty dropped 149.6 points to 23,351.50.

Among the 30 Sensex companies, IndusInd Bank, Tata Steel, Adani Ports, State Bank of India, Bajaj Finance and JSW Steel were the biggest laggards.

Sun Pharma, ITC, ICICI Bank and Tata Consultancy Services were among the gainers.

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

US markets ended mostly lower on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,790.19 crore on Friday, according to exchange data.

Global oil benchmark Brent crude declined 0.07 per cent to USD 85.18 a barrel.

Snapping its six-day rally, the BSE benchmark declined 269.03 points or 0.35 per cent to settle at 77,209.90 on Friday. The NSE Nifty slipped 65.90 points or 0.28 per cent to end at 23,501.10.

A stock broker reacts to the fluctuating share prices on the Bombay Stock Exchange in Mumbai. File photo
| Photo Credit: The Hindu

Benchmark equity indices climbed in early trade on Thursday, June 20, 2024 but faced highly volatile trends and were soon trading flat amid the lack of any immediate market moving triggers.

The 30-share BSE Sensex climbed 250.72 points to 77,588.31 in early trade. The NSE Nifty went up by 71.7 points to 23,587.70.

However, both the benchmark indices faced heavy volatility and were quoting between highs and lows.

Among the 30 Sensex companies, Kotak Mahindra Bank, Tata Motors, UltraTech Cement, HDFC Bank, Mahindra & Mahindra and Reliance Industries were among the biggest gainers.

Sun Pharma, Power Grid, Bajaj Finserv and Bajaj Finance were among the laggards.

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

US markets markets were closed on Wednesday in observance of Juneteenth.

Foreign Institutional Investors (FIIs) bought equities worth Rs 7,908.36 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.64 per cent to USD 85.07 a barrel.

Rallying for the fifth straight session on Wednesday, the BSE benchmark climbed 36.45 points or 0.05 per cent to settle at a new closing high of 77,337.59. During the day, it soared 550.49 points or 0.71 per cent to hit the fresh lifetime peak of 77,851.63.

The Nifty ended at 23,516, down 41.90 points or 0.18 per cent. Intra-day, it rose 106.1 points or 0.45 per cent to hit a new record of 23,664.

A sub-broker makes flower offerings before the statue of a bull outside the Bombay Stock Exchange in Mumbai. File photo
| Photo Credit: The Hindu

Benchmark equity indices Sensex and Nifty hit their new lifetime peaks in early trade on Wednesday, June 19, 2024, amid a firm global market trends, buying in bank stocks and foreign fund inflows.

The bullish trend in early trade comes a day after the Fitch Ratings raised India’s growth forecast for the current fiscal to 7.2 per cent from 7 per cent projected in March, citing a recovery in consumer spending and increased investment.

Rallying for the fifth straight session, the 30-share BSE Sensex climbed 280.32 points to hit its fresh lifetime peak of 77,581.46 during the early trade. The NSE Nifty went up by 72.95 points to hit a new record high of 23,630.85.

Among the 30 Sensex companies, IndusInd Bank, ICICI Bank, JSW Steel, Axis Bank, Kotak Mahindra Bank, Infosys, Tata Consultancy Services and HDFC Bank were the biggest gainers.

Titan, NTPC, Power Grid and Bajaj Finance were among the laggards.

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

US markets ended in the positive territory on Tuesday.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,569.40 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.01 per cent to USD 85.34 a barrel.

Fitch Ratings on Tuesday raised India’s growth forecast for the current fiscal to 7.2 per cent from 7 per cent projected in March, citing a recovery in consumer spending and increased investment.

Benchmark equity indices rebounded in early trade on Thursday, October 5, 2023, after two days of decline amid recovery in global markets.

The 30-share BSE Sensex climbed 383.31 points to 65,609.35 in early trade. The Nifty advanced 108.95 points to 19,545.05.

Among the Sensex firms, Titan, ICICI Bank, Larsen & Toubro, Infosys, Tata Consultancy Services, ITC and Tata Motors were the biggest gainers.

Power Grid and Nestle were the laggards.

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

The US markets ended in the positive territory on Wednesday.

Global oil benchmark Brent crude climbed 0.71 per cent to USD 86.42 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,424.02 crore on October 4, according to exchange data.

“The triple whammy of spiking dollar, US bond yields and crude is slowly easing, paving the way for a recovery in markets. The decline in the dollar and US bond yields are mild and, therefore, not adequate for a reversal of FII selling, which continues to be very high. But the sharp correction in Brent crude to USD 86 is a big positive,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The BSE benchmark went lower by 286.06 points or 0.44 per cent to settle at 65,226.04 on Wednesday. The Nifty declined 92.65 points or 0.47 per cent to end at 19,436.10.