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.

Equity benchmark indices Sensex and Nifty found firmer ground on Friday, propelled by a rally in market heavyweights Reliance Industries, ITC and Bharti Airtel amid a supportive trend overseas.

Recovering from the sharp decline in the previous trade, the 30-share BSE Sensex climbed 260.30 points or 0.36% to settle at 72,664.47. During the day, it rallied 542.37 points or 0.74% to 72,946.54.

The NSE Nifty climbed 97.70 points or 0.44% to 22,055.20.

From the Sensex basket, Power Grid, NTPC, JSW Steel, Asian Paints, ITC, Bharti Airtel, Hindustan Unilever and Tata Motors were the biggest gainers.

On the other hand, Tata Consultancy Services, Kotak Mahindra Bank, Infosys, Wipro, Mahindra & Mahindra and HDFC Bank were among the laggards.

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

European markets were trading in the green. Wall Street ended in positive territory on Thursday.

Global oil benchmark Brent crude climbed 0.41% to $84.22 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹6,994.86 crore on Thursday, according to exchange data.

In the previous session, the BSE benchmark dropped 1,062.22 points or 1.45% to settle at 72,404.17 on Thursday. The NSE Nifty dived 345 points or 1.55% to 21,957.50.

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

Benchmark equity indices Sensex and Nifty tumbled about 1.5% on May 09 amid heavy foreign fund outflows and selling in HDFC Bank, Larsen & Toubro and Reliance Industries.

Declining for the third day running, the 30-share BSE Sensex dropped 1,062.22 points or 1.45% to settle at 72,404.17. During the day, it tanked 1,132.21 points or 1.54% to 72,334.18.

The NSE Nifty dived 345 points or 1.55% to 21,957.50. During the day, it tumbled 370.1 points or 1.65% to 21,932.40.

From the Sensex basket, Larsen & Toubro tanked over 5% after March quarter earnings.

Asian Paints, JSW Steel, ITC, Bajaj Finance, IndusInd Bank, Tata Steel, NTPC, Bajaj Finserv, HDFC Bank, Reliance Industries and Power Grid were among the laggards.

In contrast, Tata Motors, Mahindra & Mahindra, State Bank of India, Infosys and HCL Tech were the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹6,669.10 crore on May 08, according to exchange data.

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

European markets were trading on a mixed note.

Wall Street closed mixed in overnight trade on Wednesday.

Global oil benchmark Brent crude climbed 0.48% to $83.89 a barrel.

The 30-share BSE Sensex declined 45.46 points or 0.06% to settle at 73,466.39 on May 08. The NSE Nifty remained unchanged at 22,302.50.

An employee of a stock trading firm looking at share prices. File
| Photo Credit: Vivek Bendre

Equity benchmark Sensex plummeted over 700 points to sink below the 74,000 level and Nifty retreated from a record high on Friday as investors pared exposure to telecom, capital goods and tech stocks.

Heavy selling pressure in Reliance Industries, L&T and HDFC bank counters also pulled indices down, traders said.

The 30-share BSE Sensex dropped 732.96 points or 0.98% to settle at 73,878.15 after soaring 484.07 points earlier in the day. From its intra-day high of 75,095.18, the benchmark tanked 1,627.45 points to the day’s low of 73,467.73.

The NSE Nifty also declined 172.35 points or 0.76% to 22,475.85. The benchmark hit a record 22,794.70 in the early trade, up 146.5 points or 0.64%.

From the Sensex basket, Larsen & Toubro, Maruti, Reliance Industries, Nestle, Bharti Airtel, UltraTech Cement, Kotak Mahindra Bank and JSW Steel were among the major laggards.

Bajaj Finance climbed nearly 1% higher. The Reserve Bank of India (RBI) has lifted restrictions on Bajaj Finance on sanctioning and disbursal of loans through eCOM and Insta EMI Card, the company said in a regulatory filing on Thursday.

In November last year, the central bank directed Bajaj Finance to stop sanction and disbursal of loans under its two lending products – eCOM and Insta EMI Card – due to the company’s non-adherence to the extant provisions of digital lending guidelines.

Bajaj Finserv, Mahindra & Mahindra, State Bank of India, ICICI Bank and Infosys were among the other gainers.

“Profit-booking and a degree of caution ahead of the release of the US non-farm payroll resulted in selling pressure in the market. However, the absence of significant negative surprises in Q4 earnings thus far, along with a decline in oil prices, might help to mitigate the downside.”

“Though the correction was broad-based, the large-cap stock was the key underperformer due to the moderation of FII’s exposure to the domestic market,” said Vinod Nair, Head of Research, Geojit Financial Services.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹964.47 crore on Thursday, according to exchange data.

In Asian markets, Hong Kong settled in the positive territory, while Seoul ended lower. Markets in Tokyo and Shanghai were closed for the holidays.

European markets were trading in the green. Wall Street ended with gains on Thursday.

Global oil benchmark Brent crude declined 0.06% to $83.62 a barrel.

On Thursday, the BSE benchmark climbed 128.33 points or 0.17% to settle at 74,611.11. The NSE Nifty went up by 43.35 points or 0.19% to 22,648.20.

A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. File
| Photo Credit: REUTERS

Rising for the fifth straight session, equity benchmark Sensex rallied nearly 500 points to reclaim the 74,000 mark while the Nifty closed above the 22,550 level on April 25, driven by heavy buying in banking, financial and metal stocks.

Recovering after a sell-off in early trade, the 30-share BSE Sensex climbed 486.50 points or 0.66% to settle at 74,339.44. During the day, it surged 718.31 points or 0.97% to 74,571.25.

The NSE Nifty advanced 167.95 points or 0.75% to 22,570.35.

From the Sensex basket, Axis Bank jumped 6% after the company reported a consolidated net profit of ₹7,599 crore during the March 2024 quarter.

State Bank of India, NTPC, Nestle, Sun Pharma, JSW Steel, ITC, Mahindra & Mahindra and HCL Technologies were among the other major gainers.

Kotak Mahindra Bank tanked 10.85% after the RBI barred the company from onboarding customers online and issuing credit cards.

Cracking down on repeated non-compliance with IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found “serious deficiencies” in the lender’s IT risk management.

Hindustan Unilever, Titan, Bajaj Finance, Maruti and Asian Paints were the other laggards.

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

European markets were trading on a mixed note. Wall Street ended on a mixed note on April 24.

Global oil benchmark Brent crude climbed 0.06% to $88.07 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,511.74 crore on April 24, according to exchange data.

The BSE benchmark rose 114.49 points or 0.16% to settle at 73,852.94 on April 24. The NSE Nifty advanced 34.40 points or 0.15% to 22,402.40.

Equity benchmark indices tanked in early trade on April 19, taking their losing streak to the fifth day running, as escalating tensions in the Middle East weighed heavily on investors’ sentiment.

Fresh foreign fund outflows, uptick in Brent crude oil prices and decline in IT stocks also added to the overall weak sentiment in equities.

The 30-share BSE Sensex tanked 672.53 points to 71,816.46. The NSE Nifty dropped 218.2 points to 21,777.65.

From the Sensex basket, Infosys declined over 2% after the company’s revenue growth guidance for FY25 failed to meet market expectations.

The company expects a revenue growth of 1-3% in constant currency for FY25 and an operating margin of 20-22%.

“Infosys guided for 1-3% constant currency revenue growth for FY25, missing expectations,” as per a report by JM Financial Institutional Securities.

Axis Bank, HCL Technologies, Asian Paints, Larsen & Toubro, Tata Motors, Tata Consultancy Services and Nestle India were the other major laggards.

ITC and HDFC Bank were the gainers.

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

Wall Street ended mostly lower on Thursday.

Global oil benchmark Brent crude climbed 2.27% to USD 89.09 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,260.33 crore on Thursday, according to exchange data.

“Reports of the feared escalation of the Iran-Israel tensions have spooked the markets. Distinct weakness in Asian markets and sharp cuts in US futures reflect heightened nervousness in equity markets,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Meanwhile, the 2024 Lok Sabha polls kicked off on Friday with the beginning of polling for the first phase.

The BSE benchmark tanked 454.69 points or 0.62% to settle at 72,488.99 on Thursday. The NSE Nifty declined 152.05 points or 0.69% to 21,995.85.

Equity benchmark indices Sensex and Nifty faced heavy volatility on April 18 and ended lower, taking their losing streak to the fourth straight session, dragged by bank stocks and foreign fund outflows.

Concerns over fading rate cut hopes and persisting FII fund exodus from domestic equities also dampened investors’ sentiment.

The 30-share BSE Sensex declined abruptly post noon, reflecting heavy fluctuations, wiping out all its early gains. It tanked 454.69 points or 0.62% to settle at 72,488.99. During the day, it gyrated 1,107.38 points between the day’s high and low.

The benchmark quoted 73,135.5 at 13:31 hours but within two minutes it declined to 72,817.03 at 13.34 hours, reflecting a drop of 318.47 points.

The NSE Nifty declined 152.05 points or 0.69% to 21,995.85. It hit a high of 22,326.50 and a low of 21,961.70 during the day.

From the Sensex basket, Nestle declined the most by over 3% amid reports that the global FMCG major sold infant milk products with more sugar content in less developed countries.

Titan Company, Axis Bank, NTPC, Tata Motors, ITC, Tech Mahindra, Bajaj Finserv, ICICI Bank, HDFC Bank and Bajaj Finance were the other laggards.

Bharti Airtel, Power Grid, Infosys and Larsen & Toubro were among the gainers.

“Domestic benchmarks extended losses amid mixed sentiments, emerged from escalating geopolitical tensions in the Middle East, and as hopes of U.S. rate cuts waned. Meanwhile, investors will closely monitor the Q4 outcomes for further directions,” said Vinod Nair, Head of Research, Geojit Financial Services.

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

European markets were trading mostly with gains. Wall Street ended lower on April 17.

Global oil benchmark Brent crude declined 0.63% to $86.74 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,468.09 crore on Tuesday, according to exchange data.

“Markets witnessed frenzied selling towards the closing stages in a highly volatile trading session, as concerns over fading rate cut hopes and persisting FII fund exodus from local stocks dampened investors’ sentiment.”

“Even as the Indian economy has been resilient and managed to dodge global worries, worries of stubborn inflation, rising instances of geopolitical tensions and delay in interest rate cut has fuelled profit-taking,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Stock markets were closed on April 17 for Ram Navami.

The 30-share BSE benchmark tanked 456.10 points or 0.62% to settle at 72,943.68 on Tuesday. The NSE Nifty declined 124.60 points or 0.56% to finish at 22,147.90.

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

Equity benchmark index Sensex registered marginal gains to hit fresh lifetime high on April 05 after the Reserve Bank maintained the status quo on key interest rates amid a negative trend in global markets.

The six-member rate-setting panel of the Reserve Bank of India (RBI) on April 05 kept the benchmark interest rates unchanged at 6.5% for the seventh time in a row. It also expressed concerns over food inflation given IMD’s prediction of above-normal maximum temperatures during April-June.

The 30-share BSE Sensex inched up 20.59 points or 0.03% to settle at a fresh record of 74,248.22. The index oscillated between the intra-day peak of 74,361.11 and the low of 73,946.92.

The broader NSE Nifty ended with a marginal loss of 0.95 points at 22,513.70. As many as 28 components of the 50-share benchmark ended in the red.

“Although the RBI policy meeting unfolded as anticipated, concerns over food inflation and warnings of a heat wave tampered sentiment,” said Vinod Nair, Head of Research, Geojit Financial Services.

Among the Sensex constituents, 18 stocks closed in negative with UltraTech Cement, L&T, Bharti Airtel, Bajaj Finance and Tech Mahindra being major laggards.

Other heavyweights like Asian Paints, Maruti, Titan and JSW Steel also saw heavy selling.

In contrast, Kotak Mahindra Bank, Bajaj Finserve, HDFC Bank, ITC and SBI bucked the trend and ended the session with a gain of up to 2.09%.

BSE largecap gained 0.15%, while midcap and smallcap indices rose 0.50%.

Global oil benchmark Brent crude advanced 0.11% to $90.75 a barrel.

Asian markets were lower, with Japan’s Nikkei 225 losing 1.96% and Hang Seng of Hong Kong declining 0.01%. South Koran index Kospi fell 1.01% .

European markets were trading in the red. Germany’s DAX and London’s FTSE 100 lost 1.57% and 0.90%, respectively, while CAC40 of France went down by 1.36%.

The U.S. markets closed largely lower in the overnight trade on April 04.

“The global sentiment was dampened by the rise in oil prices and tensions in the Middle East. Investors remain attentive to upcoming US non-farm payroll and unemployment data, seeking clarity on the Federal Reserve’s future rate path,” Mr. Nair said.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,136.47 crore on April 04, according to exchange data.

On Thursday, the BSE benchmark Sensex surged 350.81 points or 0.47% to settle at its lifetime high of 74,227.63. The NSE Nifty also hit its fresh peak of 22,514.65, gaining 80 points or 0.36%.

Equity benchmark indices Sensex and Nifty rebounded sharply to hit record fresh highs on April 04, propped up by buying in IT, consumer durables and financial stocks amid expectations of a robust corporate performance.

Besides, investors lapped up select banking stocks expecting a status quo in the interest rate decision of the RBI’s monetary policy committee, analysts said. The six-member rate-setting panel, which began its deliberation on April 03, will announce the decision on April 05.

The 30-share BSE Sensex surged 350.81 points or 0.47% to settle at its lifetime high of 74,227.63. During the day, the index oscillated between the high of 74,501.73 and the low of 73,485.12.

The broader NSE Nifty also hit its fresh peak of 22,514.65, gaining 80 points or 0.36%. As many as 31 components of the 50-share benchmark ended with gains.

Both indices had ended lower in the previous two sessions.

On March 7, Sensex recorded its previous peak of 74,119.39. Nifty scaled its previous high of 22,493.55.

Among the Sensex constituents, 20 stocks ended the session in green with HDFC Bank, Titan, Tech Mahindra, and Asian Paints being the major gainers.

TCS, Maruti, Kotak Mahindra Bank and Bajaj Finserve were the other gainers.

In contrast, SBI, Bharti Airtel, JSW Steel, PowerGrid, ITC and Reliance closed the trading with losses.

BSE LargeCap gained 0.34% and smallcap rose 0.54%, while the midcap index lost marginally by 0.11%.

The breadth of the market displayed a positive trend within a narrow trading range, with attention focused on the RBI’s upcoming monetary policy announcement on April 05. “Expectations lean towards the likely status quo in the repo rate due to prevalent inflation worries.”

“Meanwhile, the broader market has shown resilience in select sectors like banks in anticipation of decent Q4 results and exports based on composite PMI data reflecting strong business conditions,” Vinod Nair, Head of Research, Geojit Financial Services, said.

Elsewhere in Asia, Seoul and Tokyo ended with gains, while Hong Kong and Shanghai were closed for a holiday.

European markets were trading in green. The U.S. markets closed Wednesday’s session on a mixed note.

Meanwhile, global oil benchmark Brent crude climbed 0.36% to $88.67 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,213.56 crore on April 03, according to exchange data.

On April 03, the BSE benchmark Sensex declined by 27.09 points or 0.04% to settle at 73,876.82. The NSE Nifty declined 18.65 points or 0.08% to 22,434.65.

A pedestrian walks past the Bombay Stock Exchange (BSE) building, in Mumbai. File
| Photo Credit: PTI

Benchmark Sensex rebounded 335 points while Nifty closed above the 22,100 level on Thursday as buying in IT and capital goods shares helped broader markets recover from the previous day’s sharp losses.

The 30-share BSE Sensex climbed 335.39 points or 0.46% to settle at 73,097.28 with 20 of its constituents ending in the green and 10 in the red. During the day, it jumped 602.41 points or 0.82% to 73,364.30.

The broader Nifty gained 148.95 points or 0.68% to close at 22,146.65 as 37 of its components settled higher and 13 with losses.

Sensex 906.07 points, or 1.23% while Nifty plunged by 338 points, or 1.51%, to close below the 22,000 level on Wednesday due to heavy selling pressure.

“The market was able to recover half of last trading day’s sell-off as leverage-based square-off neutralised it, while institutional buying sustained the buoyancy,” said Vinod Nair, Head of Research, Geojit Financial Services.

“Wholesale Price Inflation (WPI) eased to a four-month low at 0.2% in February, bringing ease to upcoming CPI trajectory, a relief for future rate cuts,” Mr. Nair added.

From the Sensex pack, HCL Technologies rose the most by 2.96%. Gains in Larsen &Toubro, Infosys, Wipro, Bharti Airtel, Mahindra & Mahindra, Tata Consultancy Services and Asian Paints helped key indices to recover losses.

Axis Bank, IndusInd Bank, Bajaj Finance, JSW Steel, State Bank of India and Tata Steel were among the major laggards.

The broader markets also staged a smart recovery, with the BSE Smallcap gauge jumping 3.11% and midcap index climbing 2.28%.

The broader market is outperforming the headline indices, taking advantage of mid and smallcap as a bargaining strategy, analysts said.

Wholesale inflation rate declined marginally to 0.2% in February compared to 0.27% in the preceding month despite a slight uptick in the food basket.

Fitch Ratings raised India’s economic growth forecast to 7% for the next fiscal year on the back of strong domestic demand and sustained level of business and consumer confidence.

“Markets recovered after Wednesday’s fall and gained over half a per cent. Importantly, it was the rebound in the broader indices, which eased some pressure and aided strong market breadth,” Ajit Mishra, SVP – Technical Research, Religare Broking Ltd, said.

Among the indices, services jumped 3.99%, telecommunication climbed 3.81%, utilities (3.38%), oil & gas (3.11%), power (2.93%), industrials (2.66%) and commodities (2.49%).

Bankex index emerged as the only laggard.

A total of 2,722 stocks advanced while 1,153 declined and 83 remained unchanged on the BSE. Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,595.06 crore on Wednesday, according to exchange data.

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

European markets were trading mostly in the green. The U.S. markets ended on a mixed note on Wednesday.

Global oil benchmark Brent crude climbed 0.76% to $84.67 a barrel.