FIIs offloaded equities worth ₹3,404.04 crore on Friday (November 8, 2024). File
| Photo Credit: Reuters

Benchmark-sensitive indices Sensex and Nifty fell in early trade on Monday (November 11, 2024) as continuous foreign fund outflows, disappointing quarterly earnings and weak trends from Asian markets dented investors’ sentiment.

Forex traders said the volatility in the equity market is likely to continue as the short-term trend continues to be choppy, and this consolidation is likely to continue in the near-term with a weak bias.

The BSE benchmark Sensex fell by 484.98 points to 79,001.34 in early trade. The NSE Nifty declined 143.6 points to 24,004.60.

From the 30-share Sensex pack, Asian Paints tumbled over 8% after the company on Saturday (November 9, 2024) reported a 43.71% decline in consolidated net profit to ₹693.66 crore for the September quarter, impacted by soft-demand conditions, material price inflation and a decline in decorative and coatings business in the domestic market.

Axis Bank, Adani Ports, Nestle, Reliance Industries, Tata Steel and IndusInd Bank were also among the laggards.

However, Tata Motors, Power Grid, Maruti and HCL Technologies were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,404.04 crore on Friday (November 11, 2024), according to exchange data.

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, Indian markets remain under pressure, largely due to relentless foreign investor selling.

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

Wall Street ended in the positive territory on Friday (November 11, 2024).

“The sustained rally in the U.S. markets which have taken the Dow and S&P 500 above 40,000 and 6,000 respectively is no longer a tailwind for Indian markets. In India, in contrast, worse-than-expected earnings downgrades for FY25 are weighing on stock prices favouring the bears in the near-term,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

Global oil benchmark Brent crude dipped 0.42% to $73.56 a barrel.

On Friday (November 11, 2024), the BSE benchmark gauge Sensex declined by 55.47 points or 0.07% to settle at 79,486.32. The Nifty dipped 51.15 points or 0.21% to 24,148.20.

Image used for representative purpose only
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty fell in early trade on Wednesday (October 30, 2024) dragged down by bank stocks and weak trends in Asian markets.

The BSE Sensex declined 366.53 points to 80,002.50 in early trade. The NSE Nifty dropped 129.25 points to 24,337.60.

From the 30-share Sensex pack, Sun Pharma, ICICI Bank, Axis Bank, Bajaj Finserv, Kotak Mahindra Bank, State Bank of India, HCL Technologies and Bharti Airtel were among the laggards.

In contrast, Maruti, Tata Motors, IndusInd Bank and Larsen & Toubro defied broader market trend and were trading in the positive territory.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth ₹548.69 crore, according to exchange data.

“In the near term the market will be influenced by two factors – one positive and the other negative. The positive is the sharp decline in FII selling to just ₹548 crore on Tuesday. This is an indication that the FII tactical trade of ‘Sell India, Buy China’ is coming to an end.

“With more Domestic Institutional Investors (DII) and retail money coming to the market and FII selling tapering off, the market may get a near-term boost, aided by the festive mood. But the uptrend is unlikely to sustain since the Q2 earnings numbers indicate softness in earnings for FY25,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

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

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

Global oil benchmark Brent crude climbed 0.48% to USD 71.46 a barrel.

The BSE benchmark climbed 363.99 points or 0.455% to settle at 80,369.03 on Tuesday. The Nifty rose 127.70 points or 0.52% to 24,466.85.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,261.83 crore. File
| Photo Credit: The Hindu

Equity market benchmark indices rebounded in early trade on Tuesday (October 22, 2024) amid buying in blue-chip stocks and persistent fund inflows by domestic institutional investors.

After falling in the previous trade, the BSE Sensex bounced back and climbed 239.33 points to 81,390.60 in early trade. The NSE Nifty went up by 72.95 points to 24,854.05.

From the 30 Sensex pack, UltraTech Cement, Titan, Infosys, ICICI Bank, Power Grid, Tech Mahindra, Nestle and Bajaj Finserv were among the biggest gainers.

Tata Steel, Kotak Mahindra Bank, Tata Motors and NTPC were among the laggards.

Domestic Institutional Investors (DIIs) bought equities worth ₹3,225.91 crore on Monday (October 21, 2024), according to exchange data. However, Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,261.83 crore.

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

The U.S. markets ended on a mixed note on Monday (October 21, 2024).

Global oil benchmark Brent crude dipped 0.24% to $ 74.11 a barrel.

The BSE benchmark declined 73.48 points or 0.09% to settle at 81,151.27 on Monday (October 21, 2024). The Nifty dipped 72.95 points or 0.29% to 24,781.10.

BSE Sensex jumped 545.27 points to 81,770.02 in early trade. File
| Photo Credit: PTI

Equity benchmark indices began the trade on a buoyant note on Monday (October 21, 2024), helped by buying in blue-chip HDFC Bank, but later gave up all the initial gains amid a sharp fall in Kotak Mahindra Bank and unabated foreign fund outflows.

The BSE Sensex jumped 545.27 points to 81,770.02 in early trade. The NSE Nifty climbed 124.25 points to 24,978.30.

However, soon the benchmark indices succumbed to profit-taking and were trading lower. The BSE benchmark gauge quoted 136.52 points down at 81,060.86 and the Nifty traded 100.70 points lower at 24,753.35.

From the 30 Sensex firms, Titan, HDFC Bank, Asian Paints, Axis Bank, Tata Steel and HCL Technologies were among the biggest gainers.

HDFC Bank climbed nearly 3% in early trade after the firm on Saturday (October 19, 2024) reported a 6% increase in September quarter net profit to ₹17,825.91 crore on a consolidated basis.

On a standalone basis, the largest private sector lender’s post-tax net grew to ₹16,820.97 crore during the reporting period, as against ₹15,976.11 crore in the year-ago period.

Kotak Mahindra Bank, Bharti Airtel, IndusInd Bank, Mahindra & Mahindra and NTPC were among the laggards.

Kotak Mahindra Bank tanked over 5% after the company’s quarterly earnings failed to cheer investors.

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

The U.S. markets ended higher on Friday (October 18, 2024).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,485.70 crore on Friday (October 18, 2024), according to exchange data. However, Domestic Institutional Investors (DIIs) bought equities worth ₹5,214.83 crore.

Global oil benchmark Brent crude climbed 0.44% to $73.38 a barrel.

Recovering from its early lows, the BSE benchmark climbed 218.14 points, or 0.27%, to settle at 81,224.75 on Friday (October 18, 2024). The Nifty ended 104.20 points, or 0.42%, higher at 24,854.05.

Image used for represnetative purpose only
| Photo Credit: The Hindu

Equity benchmark indices declined in early trade on May 17 amid weak global trends and unabated foreign fund outflows.

The 30-share BSE Sensex declined 185.42 points to 73,478.30. The NSE Nifty dipped 50.35 points to 22,353.50.

Among the Sensex components, Axis Bank, IndusInd Bank, Nestle, Hindustan Unilever, Larsen & Toubro and Bajaj Finserv were the major laggards.

Mahindra & Mahindra, Tata Motors, Tata Steel and UltraTech Cement were the gainers.

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

Wall Street ended in the negative territory on Thursday.

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

Global oil benchmark Brent crude climbed 0.25% to USD 83.48 a barrel.

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.

Image used for represnetative purpose only
| Photo Credit: MUSTAFAH KK

The rupee opened on a flat note against the U.S. dollar in early trade on May 17, weighed down by a negative trend in domestic equities and the strength of the American currency in the overseas markets.

Forex traders said the Indian rupee underperformed among the Asian currencies amid higher imported commodity prices and foreign fund outflows amid worries about election results.

At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.50 against the American currency and touched 83.49 in the initial trade.

On Thursday, the rupee had settled at 83.50 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was at 104.61, higher by 0.15%.

Brent crude futures, the global oil benchmark, rose 0.26% to USD 83.49 per barrel.

“Indian rupee was again sold off despite gains in other Asian currencies on Thursday and closed at RBI-controlled level of 83.50,” said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

Bhansali further noted that the rupee is likely to trade in a narrow range of 83.45 to 83.55 during the day.

On the domestic equity market, the 30-share BSE Sensex was trading 196.15 points, or 0.27% lower at 73,467.57 points. The broader NSE Nifty was down 44.00 points, or 0.2%, to 22,359.85 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday, as they offloaded shares worth ₹776.49 crore, according to exchange data.

Image used for representative purpose only. File.
| Photo Credit: Reuters

Benchmark equity indices bounced back in early trade on May 10 amid firm global market trends and buying in ITC and Reliance Industries.

Recovering from the sharp decline in the previous trade, the 30-share BSE Sensex climbed 203.52 points to 72,607.69 in early deals. The NSE Nifty went up by 83.7 points to 22,041.20.

From the Sensex basket, ITC, Axis Bank, NTPC, JSW Steel, Hindustan Unilever, Asian Paints, Bharti Airtel and Reliance Industries were the biggest gainers.

Infosys, HDFC Bank, HCL Technologies and Larsen & Toubro were the laggards.

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

Wall Street ended in positive territory on Thursday.

“Gains in overseas markets are likely to help local benchmark indices register gains in early trade on Friday after yesterday’s sharp sell-off,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd said in his pre-opening market comment.

Global oil benchmark Brent crude climbed 0.55% to USD 84.34 a barrel.

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

Declining for the third day running, 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.

Image used for representative purpose only
| Photo Credit: Reuters

Equity benchmark indices declined in early trade on April 25, giving up their gains of last four days, amid heavy selling in Kotak Mahindra Bank and foreign fund outflows.

The 30-share BSE Sensex declined 296.79 points to 73,556.15. The NSE Nifty dipped 97.15 points to 22,305.25.

From the Sensex basket, Kotak Mahindra Bank tanked over 12% after the RBI barred the company from onboarding customers online and issuing credit cards.

Cracking down on repeated non-compliance of 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, Asian Paints, Titan, Maruti and Mahindra & Mahindra were the other major laggards.

Axis Bank, Sun Pharma, Nestle and State Bank of India were among the gainers.

In the last four days, the BSE benchmark climbed 1,363.95 points or 1.88%.

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

Wall Street ended on a mixed note on Wednesday.

Global oil benchmark Brent crude climbed 0.02% to USD 88.04 a barrel.

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

The BSE benchmark climbed 114.49 points or 0.16% to settle at 73,852.94 on Wednesday. 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.