Maruti Suzuki India, Tata Steel, Bajaj Finance, UltraTech Cement, Nestle India, Axis Bank and Tata Consultancy Services (TCS) were among the laggards. File
| Photo Credit: PTI

Benchmark BSE Sensex jumped nearly 592 points while Nifty reclaimed the 25,000 level on Monday (October 14, 2024) following gains in IT and banking shares amid a firm trend in global markets.

The 30-share BSE Sensex jumped 591.69 points or 0.73% to close at 81,973.05. During the day, it surged 690.81 points or 0.84% to hit a high of 82,072.17.

The NSE Nifty rose 163.70 points or 0.66% to settle at 25,127.95. In the intraday trade, the benchmark indices climbed 195.5 points or 0.78% to 25,159.75.

From the Sensex pack, Tech Mahindra, HDFC Bank, Larsen & Toubro, ITC, Infosys, IndusInd Bank, Kotak Mahindra Bank, Titan and HCL Technologies were among the gainers.

Maruti Suzuki India, Tata Steel, Bajaj Finance, UltraTech Cement, Nestle India, Axis Bank and Tata Consultancy Services (TCS) were among the laggards.

Market capitalisation of BSE-listed companies jumped by nearly ₹1.35 lakh crore to ₹4,63,62,781.71 ($5.51 trillion).

“The Indian market is demonstrating resilience, with subdued Q2 earnings expectations seemingly priced in and oil prices declining. The IT and financial sectors are attracting buying interest after recent corrections,” Vinod Nair, Head of Research, Geojit Financial Services said.

In the broader market, the BSE midcap gauge rose 0.28% and smallcap index by 0.06%.

Sector-wise, Realty surged the most by 1.53%. Bankex (1.03%), IT (1.01%), Financial Service and Teck by 0.88% each, Consumer Durables (0.69%) and Telecommunication (0.68%) were among the gainers.

Commodities slipped by 0.31%, followed by Metal (0.14%), Oil & Gas (0.06%) and Services (0.04%).

On the BSE, Avenue Supermarts, which owns and operates retail chain D-Mart, plunged over 8% to settle at ₹4,184.45 apiece, after the company’s September quarter earnings failed to cheer investors.

“A sharp fall in crude oil prices provided a major impetus to the markets, as markets ended in positive territory led by gains in banking, IT and realty stocks.

“The recovery may not fuel strong bullish sentiment, as FIIs deserting Indian markets this month coupled with lingering West Asia conflict has created a lot of uncertainty among the investors,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

European stocks were mixed on Monday (October 14, 2024) after China’s stimulus plans failed to inspire confidence among investors, who focussed on the earnings season and the European Central Bank’s policy meeting later this week, Deepak Jasani, Head of Retail Research at HDFC Securities, said.

On Monday (October 14, 2024), the wholesale price inflation rose to 1.84% in September as food items, especially vegetables, turned costlier, as per the government data released.

The wholesale price index-based inflation was 1.31% in August. It was (-)0.07% in September last year.

European markets were trading on a mixed note in mid-session deals.

Global oil benchmark Brent crude fell 2.52% to $77.05 a barrel.

In Asian markets, Tokyo, Shanghai and Seoul closed higher while Hong Kong settled in the negative territory. Wall Street ended with gains on Friday (October 11, 2024).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,162.66 crore on Friday (October 11, 2024), while Domestic Institutional Investors (DIIs) bought equities worth ₹3,730.87 crore, according to exchange data.

People walk past the Bombay Stock Exchange (BSE) building, in Mumbai.
| Photo Credit: PTI

Benchmark Sensex climbed nearly 362 points while Nifty ended above 25,000 level higher on Tuesday (September 10, 2024), marking their second straight day of gains following a rebound in the U.S. markets and fresh foreign fund inflows.

The 30-share BSE Sensex climbed 361.75 points or 0.44% to settle at 81,921.29 driven by gains in IT, telecom and select banking shares. During the day, it jumped 637.01 points or 0.78% to 82,196.55.

The NSE Nifty surged 104.70 points or 0.42% to 25,041.10.

Among the 30 Sensex firms, NTPC, HCL Technologies, Bharti Airtel, Tech Mahindra, Power Grid, Axis Bank, Tata Consultancy Services and Adani Ports were the biggest gainers.

Bajaj Finserv, Bajaj Finance, Hindustan Unilever, Mahindra & Mahindra, Tata Motors and State Bank of India were among the laggards.

“The domestic market showcased a gradual rebound driven by the shift in focus towards upcoming U.S. inflation and potential FED policy stance. The U.S. political risk and recession fears may set near-term cautious sentiments in the global market.

“On the domestic front, a strong monsoon, and an expectation of an uptick in demand during festival season will drive investor sentiment,” Vinod Nair, Head of Research, Geojit Financial Services, said.

In the broader market, the BSE smallcap gauge climbed 1.53% and the midcap index went up 0.53%.

Among the indices, telecommunication jumped 2%, utilities (1.76%), power (1.74%), teck (1.62%), IT (1.52%), industrials (1.25%), services (1.20%) and healthcare (1.10%).

Financial Services, oil & gas were the laggards.

A total of 2,587 stocks advanced while 1,352 declined and 103 remained unchanged on the BSE.

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

European markets were trading on a mixed note. The U.S. markets ended significantly higher on Monday.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,176.55 crore on Monday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth ₹1,757.02 crore.

Global oil benchmark Brent crude declined 1.39% to $70.84 a barrel.

“With an overnight rebound on Wall Street, strong net buying from both FIIs and DIIs, and sluggish oil prices, bullish traders are expected to pursue bargains,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Tata Motors, HDFC Bank, Reliance Industries, Tech Mahindra and ITC were among the laggards. File
| Photo Credit: The Hindu

Equity benchmark indices Sensex and Nifty marched higher to scale fresh lifetime closing peaks on Friday (August 30, 2024), tracking a largely firm trend in global markets and renewed foreign fund inflows.

Buying in index majors Bharti Airtel, ICICI Bank and Infosys also fuelled the rally in equities.

Rallying for the ninth straight session, the 30-share BSE Sensex climbed 231.16 points or 0.28% to settle at an all-time closing high of 82,365.77. During the day, it jumped 502.42 points or 0.61% to hit a record intra-day peak of 82,637.03.

The NSE Nifty soared 83.95 points or 0.33% to hit a new lifetime closing high of 25,235.90, taking its victorious run to the 12th day in a row. During the day, it surged 116.4 points or 0.46% to hit a new record intra-day peak of 25,268.35.

Among the 30 Sensex firms, Bajaj Finance, Mahindra & Mahindra, NTPC, Power Grid, Bajaj Finserv, Bharti Airtel and Tata Consultancy Services were the biggest gainers.

In contrast, Tata Motors, HDFC Bank, Reliance Industries, Tech Mahindra and ITC were among the laggards.

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

European markets were trading in positive territory. The U.S. markets ended on a mixed note on Thursday (August 29, 2024).

Foreign Institutional Investors (FIIs) bought equities worth ₹3,259.56 crore on Thursday, (August 29, 2024) according to exchange data.

Domestic Institutional Investors lapped up equities worth ₹2,690.85 crore.

“Continuation of accumulation of quality large-caps by the DIIs (Domestic Institutional Investors) and HNIs and the FIIs reducing their selling significantly and buying on certain days have contributed to the resilience of the market,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.08% to $80 a barrel.

The BSE benchmark jumped 349.05 points or 0.43% to settle at an all-time closing high of 82,134.61 on Thursday (August 29, 2024), extending its winning momentum to the eighth day in a row.

Rallying for the 11th straight session, the Nifty surged 99.60 points or 0.40% to settle at a new closing high of 25,151.95.

Image used for representative purpose only
| Photo Credit: ANI

Equity benchmark BSE Sensex tumbled nearly 700 points to sink below the 79,000 level on Tuesday (August 13), extending its losses for the second straight day due to selling pressure in HDFC Bank, SBI and ITC amid fresh foreign capital outflows.

The 30-share BSE Sensex tumbled 692.89 points or 0.87% to settle at 78,956.03. During the day, it tanked 759.54 points or 0.95% to 78,889.38.

The NSE Nifty slumped 208 points or 0.85% to 24,139.

From the 30 Sensex firms, HDFC Bank declined over 3%. Tata Steel, Bajaj Finance, State Bank of India, Tata Motors, Power Grid and JSW Steel were the other laggards.

In contrast, Titan, HCL Tech, Nestle, Sun Pharma, Reliance and Mahindra & Mahindra were the gainers.

“The MSCI rebalancing is unfolding as anticipated, leading to mixed reactions among stocks – some are seeing gains, while others are experiencing profit-booking. A key focus is HDFC Bank, which will see an increased weight, though with a lower adjustment factor. Consequently, the inflows will occur in two tranches, amounting to over USD 1.8 billion.

“HDFC Bank is currently under pressure after outperforming the market in the days leading up to the MSCI rebalancing, driven by expectations despite its weak earnings. The stock is now facing profit-booking as investors react to the phased inflows,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.

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

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

Foreign Institutional Investors (FIIs) again turned sellers on Monday as they offloaded equities worth ₹4,680.51 crore after a day’s breather, according to exchange data.

“The weightage of HDFC Bank, the biggest private lender in India, would rise in its MSCI Global Standard Index over the course of two tranches. Although the street had expected the same thing to happen all at once,” Arvinder Singh Nanda of Master Capital Services Ltd said.

Meanwhile, retail inflation declined to a five-year low of 3.54% in July mainly on account of subdued prices of food items, and base effect, according to official data released on Monday.

India’s industrial production slowed to a five-month low of 4.2% in June 2024, mainly due to poor performance of the manufacturing sector, though power and mining sectors continue to perform well, as per official data released on Monday.

Global oil benchmark Brent crude declined 0.35% to USD 82.01 a barrel.

The BSE benchmark ended lower by 56.99 points or 0.07% at 79,648.92 on Monday. The Nifty dipped 20.50 points or 0.08% to 24,347.