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

Benchmark equity indices declined in early trade on July 5 amid profit-taking after a record rally in the last few trading sessions and selling in blue-chips HDFC Bank and ICICI Bank.

The 30-share BSE Sensex plunged 504.27 points to 79,545.40. The NSE Nifty slipped 105.30 points to 24,196.85.

Among the 30 Sensex companies, HDFC Bank, Mahindra & Mahindra, Titan, Tata Steel, ICICI Bank, IndusInd Bank, Power Grid, and Kotak Mahindra Bank were the major laggards.

Sun Pharmaceuticals, JSW Steel, Larsen & Toubro, Hindustan Unilever, Reliance Industries, Infosys and Tech Mahindra were among the gainers.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth ₹2,575.85 crore, according to exchange data.

“FIIs’ huge long position in the index derivatives and strong buying in the cash market can support the market in the near term. An important trigger may come from the U.S. jobs data expected on Friday.

“If the jobs data show a loosening labour market and a slowing economy, it can lead to rate cuts by the Fed in September,” V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

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

“Most markets in the Asia-Pacific region traded lower due to the absence of cues from U.S. peers, with investors keenly awaiting the non-farm payroll data to be published later on Friday,” Avdhut Bagkar, Technical and Derivatives Analyst at StoxBox, said.

U.S. markets were closed on Thursday on the occasion of Independence Day.

Global oil benchmark Brent crude declined 0.37% to $87.11 a barrel.

On Thursday, the 30-share BSE Sensex scaled an intraday record high of 80,392.64 in early trade. Later, the Sensex closed 62.87 points or 0.08% higher at 80,049.67, its all-time closing high.

The broader Nifty also hit an intra-day record high of 24,401 in early trade before closing almost flat. The 50-issue index rose by 15.65 points or 0.06% to settle at a record 24,302.15.

Brokers react as Sensex ends above 79k, Nifty 50 surpasses 24,000 for the first time, in Kolkata on July 3, 2024
| Photo Credit: ANI

Equity benchmark indices Sensex and Nifty hit their lifetime peaks in early trade on Thursday, amid firm global market trends, buying in blue-chip stocks and robust FIIs inflows.

The 30-share BSE Sensex jumped 388.84 points to hit a record peak of 80,375.64 in early trade. Also, the Nifty climbed 114.45 points to hit a lifetime high of 24,400.95.

Among the Sensex pack, Tata Motors, ICICI Bank, Mahindra & Mahindra, Infosys, HCL Technologies and Tata Consultancy Services were the biggest gainers.

HDFC Bank, IndusInd Bank, Adani Ports and Special Economic Zone, and Bharti Airtel were among the laggards.

Foreign Institutional Investors (FIIs) bought equities worth ₹5,483.63 crore on Wednesday, according to exchange data.

“The big FII buying of ₹5,484 crore on Wednesday is largely due to the massive delivery-based buying in banking stocks led by HDFC Bank. This delivery-based buying may sustain for a few more days imparting resilience to the market.

“The FIIs with 3.78 lakh long contracts have taken a ‘U’ turn in their market approach from the big short contracts in early June. A decline in the U.S. 10-year bond yield to 4.35% and the dollar index declining to 105.29 are positives for fund inflows,” V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

Market will start responding to the Q1 results which will start flowing in from next week, he added.

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

U.S. markets ended higher on Wednesday during the shortened trading session. The markets are closed on Thursday on account of Independence Day.

Global oil benchmark Brent crude fell 0.60% to $86.82 a barrel.

On Wednesday, the 30-share Sensex hit the historic 80,000 mark for the first time intra-day trade.

It surged 632.85 points or 0.79% to a record intraday high of 80,074.30. The index later closed near the 80,000 level at 79,986.80, up by 545.35 points or 0.69% over the last close.

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

Benchmark equity indices Sensex and Nifty hit their new all-time high levels in early trade on Tuesday helped by firm trends in global markets, buying in IT stocks and fresh foreign fund inflows.

Rising for the fourth straight session, the 30-share BSE Sensex climbed 334.03 points to hit its fresh lifetime peak of 77,326.80. The NSE Nifty went up by 108.25 points to hit its new all-time high of 23,573.85.

Among the 30 Sensex companies, Wipro, Titan, Mahindra & Mahindra, Tech Mahindra, Infosys, Bharti Airtel and Hindustan Unilever were the biggest gainers.

Maruti, Kotak Mahindra Bank, HDFC Bank and ICICI Bank were among the laggards.

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

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 0.15% to $84.12 a barrel.

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

Rising for the third straight session, the BSE benchmark climbed 181.87 points or 0.24% to settle at a new closing peak of 76,992.77 on Friday. The Nifty rallied 66.70 points or 0.29% to hit a record closing high of 23,465.60.

Representational image of the Bombay Stock Exchange

Benchmark equity indices declined in early trade on Tuesday amid profit taking after a record-breaking rally and selling in bluechips Reliance Industries and HDFC Bank.

Both Sensex and Nifty hit their all-time high levels in early trade on Monday.

The 30-share BSE Sensex declined 113.63 points to 76,376.45. The NSE Nifty dipped 29.6 points to 23,229.60.

Later, both indices faced heavy volatile trends and were trading between highs and lows.

Among the 30 Sensex companies, JSW Steel, Kotak Mahindra Bank, Asian Paints, Reliance Industries, Axis Bank, ICICI Bank, Bharti Airtel, Tata Motors, HDFC Bank and IndusInd Bank were the major laggards.

Larsen & Toubro, Mahindra & Mahindra, Tech Mahindra, UltraTech Cement, Tata Steel and Titan were among the gainers.

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

US markets ended in the positive territory on Monday.

Signalling continuity, Prime Minister Narendra Modi on Monday retained Amit Shah, Rajnath Singh, Nirmala Sitharaman and S Jaishankar in charge of the four high-profile ministries — Home, Defence, Finance and External Affairs — respectively in his new government.

The four ministers in charge of these portfolios make up the crucial Cabinet Committee on Security headed by the prime minister.

“BJP keeping the key portfolios signals continuity in policies. This is a positive from the market perspective,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude declined 0.23% to $81.44 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,572.38 crore on Monday, according to exchange data.

After breaching the 77,000-mark during early trade on Monday, the BSE benchmark came under selling pressure at the fag-end of the session and ended 203.28 points or 0.27% lower at 76,490.08. Halting its three-day rally, the NSE Nifty dipped 30.95 points or 0.13% to settle at 23,259.20.

man checks stock market news on the big screen as Sensex opened in the red when counting began on June 4.
| Photo Credit: ANI

Benchmark equity indices Sensex and Nifty began the trade on an optimistic note on June 5 after facing heavy drubbing in the previous trade as value-buying at lower levels led to an uptrend in the markets.

Making a strong comeback after the June 4 sharp decline, the 30-share BSE Sensex jumped 948.83 points to 73,027.88 in early trade. The NSE Nifty went up by 247.1 points to 22,131.60.

While the NDA is comfortably above the majority mark of 272 in the 543-member Lok Sabha, the BJP has fallen short of the magic number for the first time since 2014 and is critically dependent on its allies for government formation.

The Election Commission has declared results for all 543 Lok Sabha constituencies, with the BJP winning 240 seats and the Congress 99.

“Despite the reduced majority, we expect the policy agenda of Modi 2.0 (investment-led growth, capex, infrastructure creation, manufacturing, etc.) to continue, although with some tweaks. We also expect some populist measures to address rural stress and lift sentiments at the margin, given the nature of the verdict,” as per a report by Motilal Oswal Research.

Among the 30 Sensex companies, Hindustan Unilever, Nestle, Asian Paints, HCL Technologies, HDFC Bank, Kotak Mahindra Bank and ITC were the biggest gainers.

Larsen & Toubro, Power Grid, NTPC and State Bank of India were among the laggards.

“The market will take some time to absorb the unexpected election results. Stability will return to the market soon but volatility will continue till there is clarity on the cabinet and the key portfolios,”said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

One positive of the sharp market correction is that the excessive valuations have moderated a bit and this will facilitate institutional buying once clarity emerges on the formation and composition of the cabinet, he added.

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

U.S. markets ended in positive territory on June 4.

Global oil benchmark Brent crude dipped 0.04% to $77.49 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹12,436.22 crore on June 4, according to exchange data.

Markets had the worst trading day in four years on June 4 as the BJP fell short of the magic number for the first time since 2014.

The BSE benchmark Sensex nosedived 4,389.73 points or 5.74% to settle at a more than two-month low of 72,079.05 on June 4. In the day trade, the barometer tanked 6,234.35 points or 8.15% to hit a nearly five-month low level of 70,234.43.

The NSE Nifty tumbled 1,982.45 points or 8.52% to 21,281.45 during the day. Later, it ended at 21,884.50, a sharp decline of 1,379.40 points or 5.93%.

Representational image of a traffic signal in the foreground of the Bombay Stock Exchange on Dalal Street. File

Equity benchmark indices declined in early trade on Tuesday in line with weak trends from Asian markets and fresh foreign fund outflows.

The BSE Sensex declined 218.11 points to 73,787.83. The NSE Nifty dipped 97.45 points to 22,404.55.

Among the Sensex components, Nestle, Mahindra & Mahindra, Bajaj Finserv, Axis Bank, Hindustan Unilever and ICICI Bank were the major laggards.

Tata Steel, Power Grid, Tata Steel and Asian Paints were among the gainers.

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

Wall Street ended mostly higher on Monday.

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

Global oil benchmark Brent crude declined 0.56% to $83.24 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.

Among individual stocks, Nestle India fell over 2%, walking back gains made in the previous session, as the shareholders of the local arm voted against a royalty hike to Swiss parent Nestle SA.

The KitKat chocolate maker was the top loser on the benchmark Nifty.

Bharat Electronics rose 9% to a record high after reporting a 30% jump in March-quarter profit.

Oil India rose about 4% to an all-time high after reporting a rise in fourth-quarter profit.

Markets were closed on May 20 due to the fifth phase of the Lok Sabha elections in Mumbai.

Benchmark Sensex and Nifty staged a dramatic rebound on Monday to settle higher following buying in HDFC Bank, ICICI Bank and Tata Consultancy Services.

Helped by buying at the fag-end, the 30-share BSE Sensex closed higher by 111.66 points or 0.15% at 72,776.13. The index opened lower and plummetted further 798.46 points or 1.09% to hit a low of 71,866.01 in day trade.

The NSE Nifty rose by 48.85 points or 0.22% to 22,104.05. The 50-issue rebounded around 310 points from the day’s low of 21,821.05 and hit a high of 22,131.65.

From the Sensex basket, Asian Paints, Sun Pharma, HDFC Bank, Tata Consultancy Services, Axis Bank, Tata Steel, JSW Steel, Larsen & Toubro, ICICI Bank and Power Grid were the major gainers.

Tata Motors dropped over 8% despite reporting over three-fold jump in consolidated net profit at ₹17,528.59 crore for the fourth quarter ended March 31, 2024.

NTPC, Bharti Airtel, Titan, State Bank of India and Nestle were the other major laggards.

Vinod Nair, Head of Research, Geojit Financial Services said, “Though the market reversed from the day’s low and ended up with a marginal gain, investors remain concerned over the progressing general election and high valuation.”

An absence of major positive triggers and the flight of FIIs from the domestic market will keep the short-term trend weak, Mr. Nair added.

“The week kicked off with market volatility, but by the end, it managed to eke out marginal gains. Initially bearish sentiments gave way to a recovery, particularly among key heavyweights, which not only erased losses but also propelled the index to close near the day’s peak,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.

Experts said that market volatility was high amid the ongoing Lok Sabha polls. As many as 96 seats went to polls in the fourth phase of elections on Monday.

“VIX’s rise from record lows to above 20 now, has unfolded in just a fortnight’s time. So, while recent history points to more room for upside in VIX and thereby volatility, the abruptness in the rate of change of VIX, may lead to a cool off, perhaps even before the electoral results,” Anand James, Chief Market Strategist, Geojit Financial Services said.

In the broader market, the BSE midcap gauge climbed 0.36% while smallcap index dipped 0.23%.

Among the indices, services climbed 1.41% while realty (1.32%), healthcare (1.15%), industrials (1.03%), commodities (0.79%) and bankex (0.65%) also advanced.

Consumer Discretionary, telecommunication, utilities and auto were among the laggards.

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

European markets were trading mostly lower. Wall Street ended mostly higher on Friday.

Foreign institutional investors (FIIs) offloaded equities worth ₹2,117.50 crore on Friday, according to exchange data.

Global oil benchmark Brent crude climbed 0.28% to $83.02 a barrel.

The BSE benchmark climbed 260.30 points or 0.36% to settle at 72,664.47 on Friday. The NSE Nifty climbed 97.70 points or 0.44% to 22,055.20.

Equity benchmark indices Sensex and Nifty rebounded in early deals on April 29 in tandem with a rally in global markets and buying in ICICI Bank and Reliance Industries.
| Photo Credit: The Hindu

Equity benchmark indices Sensex and Nifty rebounded in early deals on April 29 in tandem with a rally in global markets and buying in ICICI Bank and Reliance Industries.

The 30-share BSE Sensex jumped 411.15 points to 74,141.31 in early trade. The NSE Nifty went up by 94.2 points to 22,514.15.

From the Sensex basket, ICICI Bank climbed nearly 2% after the company on April 27 said its March quarter consolidated net profit grew 18.5% to ₹11,672 crore, helped by lower provisions.

IndusInd Bank, Tech Mahindra, Maruti, Sun Pharma, Reliance Industries and Tata Steel were the other major gainers.

HCL Technologies, Mahindra & Mahindra, ITC and Power Grid were the laggards.

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

Wall Street ended with gains on April 26.

Global oil benchmark Brent crude declined 0.89% to $88.70 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,408.88 crore on April 26, according to exchange data.

The BSE benchmark tanked 609.28 points or 0.82% to settle at 73,730.16 on April 26. The NSE Nifty declined 150.40 points or 0.67% to 22,419.95.

Mumbai:

Equity benchmark indices Sensex and Nifty rebounded sharply to hit record fresh highs today, 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 Wednesday, will announce the decision on Friday.

The 30-share BSE Sensex surged 350.81 points or 0.47 per cent 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 per cent. 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 per cent and smallcap rose 0.54 per cent, while the midcap index lost marginally by 0.11 per cent.

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 Friday. “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 US markets closed Wednesday’s session on a mixed note.

Meanwhile, global oil benchmark Brent crude climbed 0.36 per cent to USD 88.67 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,213.56 crore on Wednesday, according to exchange data.

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

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

File picture of the Bombay Stock Exchange building in Mumbai
| Photo Credit: ANI

Equity benchmark indices declined in early trade on Tuesday after rallying in the past four days amid weak trends from global markets and foreign fund outflows.

After a record-breaking rally, the 30-share BSE Sensex declined 297.97 points to 73,574.32 due to profit-taking. The Nifty dipped 86.05 points to 22,319.55.

Among the Sensex firms, HCL Technologies, Tata Consultancy Services, ICICI Bank, Infosys, Axis Bank and Reliance Industries were the major laggards.

Tata Motors, Mahindra & Mahindra, State Bank of India and NTPC were among the gainers.

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

The US markets ended in the negative territory on Monday.

Global oil benchmark Brent crude dipped 0.18% to $82.64 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 benchmark climbed 66.14 points or 0.09% to settle at an all-time high of 73,872.29 points. The Nifty went up by 27.20 points or 0.12% to settle at a lifetime peak of 22,405.60.