A man walks past the logo of the Bombay Stock Exchange (BSE) building in Mumbai. File
| Photo Credit: REUTERS

Equity benchmark indices Sensex and Nifty hit fresh lifetime high levels before closing flat due to profit-taking in select banking and telecom shares amid concerns over rich valuations on Tuesday.

The 30-share BSE Sensex declined 34.74 points or 0.04% to settle at 79,441.45 in a volatile trade. 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.

Among the Sensex pack, Kotak Mahindra Bank, Bharti Airtel, IndusInd Bank, Tata Motors, ICICI Bank, Bajaj Finance, State Bank of India and Titan were the biggest laggards.

Larsen & Toubro, Infosys, HDFC Bank, Tata Consultancy Services, HCL Technologies and Tata Steel were the biggest gainers.

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

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

European markets were trading down. U.S. markets ended in the green on Monday.

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

Global oil benchmark Brent crude climbed 0.66% to $87.17 a barrel.

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

Benchmark Sensex closed above the 77,000 level for the first time, and broader Nifty scaled a fresh peak on Tuesday as key equity indices stayed on the record-breaking run powered by a rally in index majors ICICI Bank, HDFC Bank and Infosys.

Besides, renewed foreign fund inflows amid a firm trend in global equities boosted investor confidence, traders said.

In a range-bound session, Sensex and Nifty settled at their new closing all-time high levels amid intense demand for realty, consumer durable and utility stocks.

Rising for the third straight session, the 30-share BSE Sensex climbed 308.37 points or 0.40% to settle at a new closing peak of 77,301.14. During the day, it jumped 374 points or 0.48% to hit the fresh lifetime peak of 77,366.77.

As many as 2,167 stocks advanced while 1,836 declined and 147 remained unchanged on the BSE.

The NSE Nifty went up by 92.30 points or 0.39% to hit a record closing high of 23,557.90 for the fourth straight session. It rallied 113.45 points or 0.48% to hit the new all-time high of 23,579.05 during the day trade.

“The Indian market touched record highs again and is gradually expanding the gains achieved following the national election. It is responding positively to the upcoming budget, which is anticipated to strike a balance between growth and populism.

“Similarly, it is also taking cues from positive global market trends, with the U.S. moving steadily towards the presidential election in November. Market volatility has decreased over the month, which is contributing to a short-term trend,” said Vinod Nair, Head of Research, Geojit Financial Services.

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

Among the 30 Sensex companies, Power Grid, Wipro, ICICI Bank, Titan, Mahindra & Mahindra, Axis Bank, HDFC Bank, Infosys, JSW Steel and State Bank of India were the biggest gainers.

In contrast, Maruti, UltraTech Cement, Tata Steel, Tata Motors, ITC and Tata Consultancy Services were among the laggards.

“Indian equities are trading at an all-time high zone led by positive macros and US markets scaling to new highs. Further, 27% growth in advance direct tax receipts for the Q1 FY25 supported the sentiments,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, said.

In the broader market, the BSE smallcap gauge jumped 0.96%, and midcap index climbed 0.43%.

Among the indices, realty jumped 2.11%, utilities (1.05%), telecommunication (1%), consumer discretionary (0.90%), bankex (0.83%), services (0.74%) and capital goods (0.73%).

On the other hand, auto, metal and oil & gas were the laggards.

“Global equities ticked higher on Tuesday, following a tech-led rally in the US the previous night and as an uneasy calm held in Europe post the recent selloff and traders awaited remarks from a horde of US Federal Reserve officials,” Deepak Jasani, Head of Retail Research at HDFC Securities, said.

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

European markets were quoting with gains in mid-session deals. U.S. markets ended higher on Monday.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,175.86 crore on Friday, according to exchange data.

Global oil benchmark Brent crude declined 0.27% to $ 84.02 a barrel.

Equity markets were closed on Monday on account of Eid-ul-Adha.

Rising for the third day in a row, the BSE benchmark climbed 181.87 points or 0.24% to settle at 76,992.77 on Friday. The Nifty rallied 66.70 points or 0.29% to 23,465.60.

“We expect the momentum in equities to continue driven by positive global cues, strong domestic macros, and focus on increased government spending in the upcoming budget,” Mr. Khemka said.

Benchmark equity indices Sensex and Nifty hit their new closing lifetime highs on Friday, following buying in market heavyweights HDFC Bank, Reliance Industries and Mahindra & Mahindra amid encouraging export data.

However, foreign capital outflows amid lack of fresh triggers capped sharp gains, traders said.

Rising for the third straight session, the 30-share BSE Sensex climbed 181.87 points or 0.24% to settle at a new closing peak of 76,992.77. During the day, it jumped 270.4 points or 0.35% to 77,081.30.

The NSE Nifty rallied 66.70 points or 0.29% to hit a record closing high of 23,465.60. Intra-day, it rose 91.5 points or 0.39% to hit a fresh all-time high of 23,490.40.

On a weekly basis, the BSE benchmark climbed 299.41 points or 0.39%, while the Nifty advanced 175.45 points or 0.75%.

“There is a temporary blip in the market momentum, due to a lack of fresh triggers after the hawkish commentary from the U.S. Fed, lowering the plausibility of a rate cut in the short-term. A near-term consolidation seems probable as domestic investors await cues from the upcoming union budget,” said Vinod Nair, Head of Research, Geojit Financial Services.

Among the 30 Sensex companies, Mahindra & Mahindra, Titan, HDFC Bank, Reliance Industries, UltraTech Cement, Bajaj Finance, Axis Bank, Tata Motors and Asian Paints were the biggest gainers.

On the other hand, Tech Mahindra, Tata Consultancy Services, Wipro, HCL Technologies, Larsen & Toubro and State Bank of India were among the major laggards.

India’s merchandise exports in May 2024 rose by 9% to $38.13 billion, from $34.95 billion in the year-ago month, according to government data released on Friday.

Imports also increased by 7.7% to $61.91 billion from $57.48 billion in May 2023.

In the broader market, the BSE midcap gauge jumped 1.18%, and smallcap index climbed 1.03%.

Among indices, industrials jumped 1.68%, capital goods (1.62%), telecommunication (1.31%), auto (1.26%), consumer discretionary (1.15%) and realty (0.94%).

In contrast, IT and teck were the laggards.

“Asian stocks were mixed on Friday as Japanese shares rose after the Bank of Japan surprised markets by signalling no near-term changes to its bond-buying programme, while Chinese markets were the worst performers for the day, hit by new European Union tariffs against the country’s major electric vehicle makers,” Deepak Jasani, Head of Retail Research at HDFC Securities, said.

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

European markets were quoting lower in mid-session deals. U.S. markets ended on a mixed note on Thursday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,033 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude dipped 0.12% to $82.65 a barrel.

Meanwhile, the wholesale inflation rose to a 15-month high of 2.61% in May, as heatwave conditions pushed up prices of food items, especially vegetables and costlier manufactured products.

The wholesale price index (WPI) based inflation has been rising for three months in a row. It was 1.26% in the previous month and (-) 3.61% in May 2023.

Equity markets will remain closed on Monday on account of Bakri Id.

The BSE benchmark jumped 538.89 points or 0.70 to hit its lifetime peak of 77,145.46 on Thursday. It later ended at 76,810.90, up 204.33 points or 0.27%. The Nifty rallied 75.95 points or 0.33% to settle at 23,398.90.

Benchmark equity indices ended higher on Wednesday, with the Nifty hitting its fresh record closing level, mainly due to buying in power, capital goods and industrial stocks amid a largely positive trend in global equities.

Besides, a heavy rush on select index-heavyweight counters like HDFC Bank and Reliance Industries boosted investors’ sentiment, traders said.

In a highly volatile trade, the 30-share BSE Sensex climbed 149.98 points or 0.20% to settle at 76,606.57. During the day, it jumped 593.94 points or 0.77% to 77,050.53. The BSE benchmark is just 28.51 points away from breaching its previous lifetime peak of 77,079.04.

The NSE Nifty went up by 177.1 points or 0.76% to hit its new all-time intra-day high of 23,441.95. It ended at a new closing peak of 23,322.95, up 58.10 points or 0.25%.

Power Grid was the biggest gainer on the Sensex chart, rising 2.54%, followed by Tech Mahindra, Bajaj Finance, NTPC, UltraTech Cement, Larsen & Toubro, Tata Steel, Bharti Airtel, Bajaj Finserv and HCL Technologies.

In contrast, Mahindra & Mahindra, Hindustan Unilever, Infosys and Titan were among the laggards.

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

European markets were trading mostly with gains during the mid-session deals. U.S. markets ended mostly higher on Tuesday.

Global oil benchmark Brent crude climbed 1.16% to $82.87 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹111.04 crore on Tuesday, according to exchange data.

The BSE benchmark Sensex declined 33.49 points or 0.04% to settle at 76,456.59 on Tuesday. In a volatile trade, the Nifty ended marginally up by 5.65 points or 0.02% at 23,264.85.

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

Benchmark equity indices Sensex and Nifty ended nearly 1% higher on Thursday, continuing their rally for the second straight day as Prime Minister Narendra Modi is poised to form the government for the third consecutive term.

Regaining the 75,000 level, the 30-share BSE Sensex jumped 692.27 points or 0.93% to settle at 75,074.51. During the day, it soared 915.49 points or 1.23% to 75,297.73.

The NSE Nifty climbed 201.05 points or 0.89% to 22,821.40. Intra-day, it rallied 289.8 points or 1.28% to 22,910.15.

Among the 30 Sensex companies, Tech Mahindra, HCL Technologies, State Bank of India, NTPC, Infosys, Larsen & Toubro, Tata Consultancy Services and Wipro emerged as the biggest gainers.

Hindustan Unilever, Asian Paints, Mahindra & Mahindra, Nestle, IndusInd Bank and Sun Pharma were among the laggards.

Prime Minister Narendra Modi is poised to form the government at the Centre for a third consecutive term after the BJP-led National Democratic Alliance (NDA) won the majority in the just-concluded parliamentary polls.

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

European markets were trading with gains. U.S. markets ended in positive territory on Wednesday.

Global oil benchmark Brent crude climbed 0.09% to $78.43 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,656.26 crore on Wednesday, according to exchange data.

Bouncing back from Tuesday’s debacle, the BSE Sensex jumped 2,303.19 points or 3.20% to settle at 74,382.24 on Wednesday. The Nifty climbed 735.85 points or 3.36% to 22,620.35.

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

Stock markets snapped their five-day losing run on Friday with the benchmark BSE Sensex closing higher by 75 points on value-buying in banking and oil shares after recent losses.

The 30-share BSE Sensex rose by 75.71 points or 0.10 per cent to settle at 73,961.31. During the session, it hit a high of 74,478.89 points and a low of 73,765.15 points.

Halting its five-day losing streak, the 50-share NSE Nifty rose by 42.05 or 0.19% to end at 22,530.70. Nifty and Sensex tanked more than 2% in the five days to Thursday amid high volatility ahead of the results of the Lok Sabha polls.

“The pre-election trading strategy has come to an end, and all eyes will be on the release of the exit poll for further action. Regional diversions, marginally low voter turnout and strong resistance at current range are prompting investors to adopt a cautious stance,” Vinod Nair, Head of Research, Geojit Financial Services said.

From the Sensex pack, Tata Steel, Bajaj Finance, HDFC Bank, Power Grid, IndusInd Bank, Larsen & Toubro, ICICI Bank were among the gainers.

Nestle India, Tata Consultancy Services Maruti Suzuki India, Infosys, Axis Bank, Hindustan Unilever were the laggards..

In Asian markets, Shanghai, Tokyo, Seoul and Hong Kong were closed on a mixed note. European stock markets were trading lower. Major indices on Wall Street ended lower on Thursday.

Global oil benchmark Brent crude went lower 0.40% to $81.53 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,050.15 crore on Thursday, according to exchange data.

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai. File
| Photo Credit: REUTERS

Benchmark equity indices Sensex and Nifty declined nearly 1% on Thursday, continuing their falling streak for the fifth day running due to profit booking amid monthly expiry in the derivatives segment.

The 30-share BSE Sensex plunged by 617.30 points or 0.83% to settle at 73,885.60. The barometer hit the day’s low of 73,668.73 due to selling in blue-chips.

The NSE Nifty dropped by 216.05 points or 0.95% to close at 22,488.65.

Benchmark indices closed at lifetime high levels on May 23 which triggered profit-taking amid growing nervousness among investors ahead of the results of the Lok Sabha polls on June 4. Since then, Nifty and Sensex have declined around 2% in the five straight sessions.

“The benchmark index is taking cues from the U.S. market as treasury yields continue to climb following the stickiness of global inflation, delaying the central bank’s interest rates cut policy,” Vinod Nair, Head of Research at Geojit Financial Services, said.

From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards.

ICICI Bank, Axis Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank were the gainers.

“Meanwhile, the broader market continued the weak trend, led by profit booking, due to feeble closing of monthly expiry owing to lack of interest to hold short-term positions, as exit poll is slated in the weekend,” Mr. Nair said.

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

European markets were trading with gains, while U.S. markets ended in the negative territory on Wednesday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,841.84 crore on Wednesday, according to exchange data.

The last phase of polling is scheduled for June 1. The results of the ongoing general elections will be declared on June 4.

Global oil benchmark Brent Crude fell 0.41% to $83.19 a barrel.

On Wednesday, the 30-share BSE Sensex declined 667.55 points or 0.89% to settle at 74,502.90. The NSE Nifty dropped 183.45 points or 0.80% to close at 22,704.70.

Equity benchmark indices ended with gains on May 22 amid buying in blue-chips Reliance Industries and Infosys amid mixed cues from global markets.

The 30-share BSE Sensex climbed 267.75 points or 0.36% to settle at 74,221.06. During the day, it jumped 354.48 points or 0.47% to 74,307.79.

Similarly, the NSE Nifty advanced 68.75 points or 0.31% to finish at 22,597.80.

“Despite mixed global market sentiments ahead of the U.S. Fed minutes, Indian markets exhibited a subtle positive trend. Investors are optimistic about stable Q4 earnings and easing election jitters that had previously increased volatility.”

“Interest in the FMCG sector has risen due to the potential for an early onset of monsoon. Nevertheless, markets may underperform in the short term as they wait for the election outcome, with FIIs staying on the sidelines,” Vinod Nair, Head of Research, Geojit Financial Services, said.

Among the Sensex firms, Hindustan Unilever, Reliance Industries, Infosys, Asian Paints, ITC and UltraTech Cement were the major gainers.

State Bank of India, JSW Steel, Axis Bank, ICICI Bank, Tata Steel and Tata Motors were among the laggards.

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

European markets were trading lower. Wall Street ended in the green on Tuesday.

Global oil benchmark Brent crude declined 0.84% to $82.18 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,874.54 crore on Tuesday, according to exchange data.

The BSE benchmark declined 52.63 points or 0.07% to settle at 73,953.31 on Tuesday. The Nifty, however, ended higher by 27.05 points or 0.12% to 22,529.05.

Benchmark BSE Sensex declined by nearly 53 points in a volatile trade on May 21 amid weak trends from Asian and European markets and fresh foreign fund outflows.

The 30-share Sensex declined 52.63 points or 0.07% to settle at 73,953.31. During the day, it hit a high of 74,189.19 and a low of 73,762.37.

The broader Nifty of NSE, however, closed higher by 27.05 points or 0.12% to 22,529.05.

Among the Sensex components, Nestle, Maruti, IndusInd Bank, ICICI Bank, Hindustan Unilever, Larsen & Toubro, Tata Consultancy Services, Infosys, HDFC Bank and Axis Bank were the major laggards.

Tata Steel, JSW Steel, Power Grid, Tech Mahindra and State Bank of India were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower. European markets were trading in the negative territory. Wall Street ended mostly higher on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹92.95 crore on Saturday, according to exchange data.

Global oil benchmark Brent crude declined 0.55% to $83.25 a barrel.

The BSE benchmark climbed 88.91 points or 0.12% to end at 74,005.94 in a special trading session on Saturday. The NSE Nifty advanced 35.90 points or 0.16% to 22,502.

The National Stock Exchange (NSE) and BSE conducted a special trading session in the equity and equity derivative segments on May 18 to check their preparedness for handling major disruptions or failures at the primary site.

Markets were closed on May 20 due to general elections in Mumbai.

Equity benchmarks Sensex and Nifty closed higher for a second straight day on Friday as buying in index majors M&M, Reliance Industries, and ITC helped the indices rebound from early lows.

However, relentless foreign fund outflows capped the sharp gains in domestic equities, traders said.

In a largely range-bound trade, the 30-share BSE Sensex climbed 253.31 points, or 0.34%, to settle at 73,917.03.

The NSE Nifty advanced 62.25 points, or 0.28%, to 22,466.10.

M&M was the biggest gainer on the Sensex chart, rising 5.97% , followed by JSW Steel, Ultra Cement, Kotak Mahindra Bank, ITC and NTPC.

Reliance Industries gained 0.73% to close at ₹2,871 apiece.

In contrast, TCS, HCL Tech, HUL, Nestle India, Bajaj Finserv, Wipro and Infosys were among the losers.

“Despite mixed global signals and uncertainties surrounding the U.S. Fed, the Indian market experienced a robust recovery, largely fuelled by the outperformance of the broader market and positive Q4 earnings.”

“Further, some index heavyweight earnings surpassed expectations, and midcap and smallcap stocks continued to exhibit buying interest during dips. Auto and consumer durables particularly stood out with strong earnings momentum,” said Vinod Nair, Head of Research, Geojit Financial Services.

In the broader market, the BSE midcap gauge rose 1.18% and smallcap index gained 1.39%.

Sectorally, consumer durables jumped 2.41%, followed by auto (1.80%), realty (1.68%), metal (1.50%), commodities (1.55%), industrials (1.26%) and oil & gas (1.19%).

On the other hand, IT and tech were the laggards.

“World equities were mostly lower on Friday as traders now expect just one rate cut in 2024, though Chinese stocks reversed earlier losses following the announcement of fresh measures to revive the ailing property market,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

In Asian markets, Shanghai and Hong Kong logged gains, while Seoul and Nikkei closed in the red.

European markets were trading in the negative territory. Wall Street ended in the green in the overnight trade on May 16.

Global oil benchmark Brent crude rose 0.25% to $83.48 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹776.49 crore on May 16, according to exchange data.

On Thursday, the BSE benchmark climbed 676.69 points or 0.93% to settle at 73,663.72. The NSE Nifty surged 203.30 points or 0.92% to 22,403.85.