The Bombay Stock Exchange (BSE) building in Mumbai. File
| Photo Credit: REUTERS

Benchmark equity indices Sensex and Nifty tanked over 5 per cent in late morning trade on Tuesday as the initial trend showed BJP winning lesser number of seats than predicted in exit polls.

The 30-share BSE Sensex dropped 3,311.87 points or 4.33 per cent to 73,156.91. The NSE Nifty tumbled 1,102.55 points or 4.73 per cent to 22,161.35.

Soon after the BSE benchmark dived 4,131.44 points or 5.40 per cent to 72,337.34, and the Nifty slumped 1,263.3 points or 5.43 per cent to 22,000.60.

Among the 30 Sensex companies, State Bank of India tanked over 10 per cent, while Power Grid and NTPC plunged nearly 10 per cent.

Larsen & Toubro, Axis Bank, Tata Steel and Reliance Industries were the other big laggards.

The BJP-led NDA on Tuesday was leading in 280 seats to cross the majority in trends available for 528 seats, while the Congress also crossed the 100-mark in terms of leads, the Election Commission data showed.

The BJP was ahead in 234 seats at 10:30 am and won the Surat seat in Gujarat uncontested.

The Congress-led INDIA bloc was leading in 200 seats, a performance that appeared much better than what was predicted in the exit polls.

Foreign Institutional Investors (FIIs) bought equities worth Rs 6,850.76 crore on Monday, according to exchange data.

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

US markets ended on a mixed note on Monday.

Global oil benchmark Brent crude declined 0.82 per cent to USD 77.72 a barrel.

Markets jumped sharply on Monday after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls.

The BSE benchmark soared by 2,507.47 points or 3.39 per cent to settle at a new closing peak of 76,468.78 on Monday, marking its biggest single-day gain in three years. During the day, the barometer jumped 2,777.58 points or 3.75 per cent to hit a record intra-day peak of 76,738.89.

The NSE Nifty climbed 733.20 points or 3.25 per cent to finish at 23,263.90. During the day, it soared 808 points or 3.58 per cent to hit a fresh intra-day all-time high of 23,338.70.

Benchmark equity indices Sensex and Nifty rebounded sharply on Wednesday following heavy buying in index majors Reliance Industries and HDFC Bank.

The 30-share BSE Sensex climbed 526.01 points or 0.73% to settle at 72,996.31. During the day, it jumped 668.43 points or 0.92% to 73,138.73.

The NSE Nifty went up by 118.95 points or 0.54% to 22,123.65.

From the Sensex basket, Reliance Industries jumped 3.50%, contributing the most to the rise. Maruti, Bajaj Finance, Titan, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Mahindra & Mahindra and Larsen & Toubro were among the major gainers.

Wipro, HCL Technologies, Nestle, Tata Consultancy Services and Tata Motors were among the laggards.

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

European markets were trading on a mixed note. Wall Street ended in negative territory on Tuesday.

Foreign Institutional Investors (FIIs) turned net buyers on Tuesday, as they bought equities worth ₹10.13 crore, according to exchange data.

Global oil benchmark Brent crude declined 0.96% to $85.42 a barrel.

On Tuesday, the BSE benchmark declined by 361.64 points or 0.50% to settle at 72,470.30. The NSE Nifty dropped 92.05 points or 0.42% to 22,004.70.

Benchmark equity indices Sensex and Nifty closed higher for the third straight session on Friday, following gains in index majors L&T, ITC and Maruti and a record rally in the U.S. markets after the Federal Reserve indicated three rate cuts this year.

After falling in early trade, markets staged a smart recovery. The 30-share BSE Sensex climbed 190.75 points or 0.26% to settle at 72,831.94. However, a sharp correction in IT and tech stocks limited the rise. During the day, it jumped 474.43 points or 0.65% to 73,115.62.

The NSE Nifty advanced 84.80 points or 0.39% to 22,096.75.

From the Sensex basket, Sun Pharma, Maruti, IndusInd Bank, Titan, ITC, Tata Motors, Larsen & Toubro and JSW Steel were the major gainers.

On the other hand, Infosys, Wipro, HCL Technologies, Tata Consultancy Services, Tech Mahindra and Bajaj Finserv were among the laggards.

The BSE IT index fell 2%.

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

European markets were trading on a mixed note. Wall Street tapped fresh record peaks on Thursday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,826.97 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude dipped 0.22% to $85.59 a barrel.

The BSE benchmark jumped 539.50 points or 0.75% to close at 72,641.19 on Thursday. The NSE Nifty climbed 172.85 points or 0.79% to 22,011.95.

Benchmark Sensex and Nifty recouped from early losses and settled at fresh record high levels in a volatile trade on Wednesday following buying in bank and select IT shares and gains in European markets.

The 30-share BSE Sensex jumped 408.86 points or 0.55% to settle at a new record high of 74,085.99. During the day, it went up by 474.14 points or 0.64% to hit an all-time high of 74,151.27.

The Nifty climbed 117.75 points or 0.53% to settle at a fresh closing peak of 22,474.05. During the day, it jumped 140.9 points or 0.63% to reach its record high of 22,497.20.

The benchmark indices traded lower in the first half of the session but early gains in European markets helped recoup losses in closed in the green.

Among the Sensex firms, Kotak Mahindra Bank, Axis Bank, Bharti Airtel, Sun Pharma, HCL Technologies, Mahindra & Mahindra, Titan and Tata Consultancy Services were the biggest gainers.

UltraTech Cement, NTPC, Maruti, JSW Steel, Power Grid and Tata Motors were among the laggards.

In Asian markets, Seoul, Tokyo and Shanghai settled lower while Hong Kong ended with gains.

European equity markets were trading in the green. The U.S. markets ended lower on Tuesday.

“Global markets witnessed mixed signals ahead of the U.S. FED chair’s testimony to Congress. The domestic market exhibited a smart recovery in the second half, reversing initial losses as buying picked up in large-cap stocks,” said Vinod Nair, Head of Research, Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.80% to $82.59 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹574.28 crore on Tuesday, according to exchange data.

Taking a breather after a record-breaking rally, the BSE benchmark declined 195.16 points or 0.26% to settle at 73,677.13 on Tuesday. The Nifty dipped 49.30 points or 0.22% to 22,356.30.

A man walks past the bull statue at BSE building in Mumbai. File
| Photo Credit: PTI

Benchmark Sensex declined by 195 points on Tuesday, snapping its four-day gaining streak due to selling in IT shares and index heavyweight Reliance Industries amid weak trends from global markets and foreign fund outflows.

Taking a breather after a record-breaking rally, the 30-share BSE Sensex declined by 195.16 points or 0.26% to settle at 73,677.13 due to profit taking. During the day, the barometer tanked 460.04 points or 0.62% to 73,412.25.

The broader Nifty declined by 49.30 points or 0.22% to close at 22,356.30.

Among Sensex firms, Bajaj Finserv and Bajaj Finance fell by over 4% each. Nestle, Infosys, Tata Consultancy Services, Wipro, UltraTech Cement, HCL Technologies, Larsen & Toubro and Hindustan Unilever were the other major laggards.

Bharti Airtel, State Bank of India, Sun Pharma and NTPC were among the gainers.

Tata Motors, which announced the demerger of its passenger and commercial vehicle businesses into two listed entities, closed higher by 3.52% after rallying to a 52-week high in intra-day trade.

Among Asian markets, Seoul, Tokyo and Hong Kong settled lower while Shanghai ended in the green. European markets were trading lower. The U.S. markets ended in negative territory on Monday.

Global oil benchmark Brent crude dipped 0.21% to $82.63 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth ₹564.06 crore on Monday, according to exchange data.

Extending its rally to the fourth straight session on Monday, the BSE Sensex settled at an all-time high of 73,872.29 points. The Nifty closed at a lifetime peak of 22,405.60. Sensex and Nifty rallied around 2% in four sessions to Monday.

Equity benchmark indices Sensex and Nifty closed higher for the third straight day on Tuesday on gains in market heavyweights ITC, Reliance Industries and Infosys amid a bearish trend in global equities.

Besides, robust domestic macroeconomic data added to the positive momentum, traders said.

The BSE benchmark index climbed 152.12 points or 0.23% to settle at 65,780.26. During the day, it gained 203.56 points or 0.31% to 65,831.70.

The Nifty rose 46.10 points or 0.24% to end at 19,574.90.

“Strong domestic factors are providing crucial support for Indian equities, allowing them to maintain their strength despite attempts by weak global peers to disrupt the mood. India’s service PMI remains robust at 60.1, indicating sustained demand even in the face of inflationary pressures.

“Notably, small and mid-cap stocks have been standout performers, with both indices reaching all-time highs. Conversely, the weak Chinese service PMI has cast a shadow on hopes of an economic rebound in China, impacting global market sentiments,” said Vinod Nair, Head of Research at Geojit Financial Services.

Sun Pharma emerged as the biggest gainer from the Sensex pack, climbing 2.09%, followed by ITC, Titan, Bajaj Finance, Nestle, Infosys, L&T, JSW Steel, Reliance Industries and Kotak Mahindra Bank.

UltraTech Cement, Maruti, HDFC Bank, Wipro, State Bank of India and NTPC were among the laggards.

“Markets held on to gains for the 3rd straight day but strong follow-through buying was, however, missing albeit lack of positive Asian cues. The positive takeaway was that the benchmark Nifty stuck to gains as Nifty Mid-cap and Small-cap indices continued to scale fresh all-time highs.

“The risk mood has improved after Friday’s softer than expected US August payrolls report which suggests that September rate hike is off the table,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

In the broader market, the BSE midcap jumped 1.09%, and smallcap gained 0.61%.

Sectorally, healthcare rallied 1.29%, realty climbed 1.08%, energy (1.01%), consumer durables (0.90%), oil & gas (0.83%) and services (0.72%).

Financial Services, telecommunication and bankex were the laggards.

“Global equities mostly fell on Tuesday as higher Treasury yields weighed on growth stocks, while a slow pace of expansion in services activity in China (8-month low) stoked worries over demand in the world’s second-largest economy,” Deepak Jasani, Head of Retail Research, HDFC Securities, said.

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

European markets were trading on a mixed note in early deals. The U.S. markets were closed on Monday.

“While markets extended gains for the third straight session, the mood was more or less range-bound with a positive bias as U.S. markets were shut on Monday and investors preferred to take selective bets. One needs to be watchful about the sharp volatility in the rupee, which could impact FII flows going ahead,” Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd, said.

The rupee plunged by 35 paise to close at 83.06 (provisional) against the U.S. dollar on Tuesday, amid a strong American currency and higher crude oil prices.

According to a survey, manufacturing activities in India gained momentum in August.

Meanwhile, GST collections grew by 11% to over ₹1.59 lakh crore, and domestic passenger vehicle sales hit a record in August.

Global oil benchmark Brent crude declined 0.62% to $88.45 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,367.67 crore on Monday, according to exchange data.

The BSE benchmark had climbed 240.98 points or 0.37% to settle at 65,628.14 on Monday. The Nifty advanced 93.50 points or 0.48% to close at 19,528.80.

“We expect the broader market participation to continue to outperform and sector rotation is helping Nifty to stay elevated. On the upside we expect the Nifty to target levels of 19650. In terms of levels, 19490 – 19470 shall act as a crucial support and 19650 – 19700 shall act as an immediate hurdle,” Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas, said.