Stock prices are displayed on a digital screen at the facade of the Bombay Stock Exchange building, in Mumbai.
| Photo Credit: PTI

Equity benchmark indices rebounded in early trade on July 11 amid a rally in global markets and continuous foreign fund inflows.

Buying in IT stocks also added to the positive trend in equities.

The 30-share BSE Sensex climbed 245.32 points to 80,170.09 in early trade. The NSE Nifty went up by 78.2 points to 24,402.65.

Among the Sensex pack, Tata Consultancy Services climbed over 1% ahead of its quarterly earnings announcement later in the day.

The other prominent gainers were HCL Technologies, Tata Motors, Tata Steel, Maruti, Infosys and State Bank of India.

Power Grid, Nestle, Sun Pharma, HDFC Bank and Mahindra & Mahindra were among the laggards.

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

U.S. markets ended significantly higher on July 10.

Foreign Institutional Investors (FIIs) bought equities worth ₹583.96 crore on July 10, according to exchange data.

Global oil benchmark Brent crude climbed 0.76% to $85.73 a barrel.

The BSE benchmark closed lower by 426.87 points or 0.53% at 79,924.77 on July 10. The NSE Nifty dropped 108.75 points or 0.45% to settle at 24,324.45.

Both the benchmark indices had hit their record high levels in opening deals on July 10.

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%.

The rupee appreciated 8 paise to 83.44 against the U.S. dollar in early trade on Thursday, as the American currency retreated from its elevated levels.
| Photo Credit: C. Venkatachalapathy

The rupee appreciated 8 paise to 83.44 against the U.S. dollar in early trade on Thursday, as the American currency retreated from its elevated levels.

Forex traders said a negative trend in domestic equities and foreign fund outflows weighed on the local unit and restricted the up move.

At the interbank foreign exchange market, the local unit opened at 83.49 against the greenback. It later touched 83.44 in initial trade, registering a rise of 8 paise from its previous close.

On Wednesday, the rupee stayed range-bound and settled 1 paisa lower at 83.52 against the U.S. dollar.

“Indian rupee was sold against the dollar as FPIs continued to sell stocks worth over ₹6,000 crore on Wednesday and bought dollars keeping US dollar higher,” said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

Dollar buying could reemerge despite U.S. dollar selling by the Reserve Bank of India (RBI) to protect the rupee, Mr. Bhansali added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 105.51, lower by 0.03%.

“The US FED speakers warned that interest rates could remain higher for longer. More speakers would give their rhetoric on Thursday and Friday. The dollar index was stable at 105.54 while the US 10-year bond yield rose from 4.46% to 4.50%,” Mr. Bhansali said.

Brent crude futures, the global oil benchmark, rose 0.43% to USD 83.94 per barrel.

On the domestic equity market front, the 30-share BSE Sensex declined 176.2 points or 0.24% to 73,290.19 in early trade. The NSE Nifty fell 49.75 points or 0.22% to 22,252.75 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth ₹6,669.10 crore, according to exchange data.

Benchmark equity indices declined in early trade on May 8 in line with weak trends from the Asian markets and continuous foreign fund outflows
| Photo Credit: PTI

Benchmark equity indices declined in early trade on May 8 in line with weak trends from the Asian markets and continuous foreign fund outflows.

Extending its previous day’s downtrend, the 30-share BSE Sensex declined 363.09 points to 73,148.76. The NSE Nifty dropped 116.9 points to 22,185.60.

From the Sensex basket, Asian Paints, Larsen & Toubro, Hindustan Unilever, HDFC Bank, Nestle and Mahindra & Mahindra were the major laggards.

Tata Steel, Maruti, State Bank of India and JSW Steel were among the gainers.

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

Wall Street ended on a mixed note on May 7.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,668.84 crore on May 7, according to exchange data.

Global oil benchmark Brent crude declined 0.30% to $82.91 a barrel.

Paring all its early gains, the BSE benchmark went lower by 383.69 points or 0.52% to settle at 73,511.85 on May 7. The NSE Nifty declined 140.20 points or 0.62% to 22,302.50.

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.

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 declined in early trade on April 12 after a record-breaking rally in the previous trade.
| Photo Credit: REUTERS

Equity benchmark indices declined in early trade on April 12 after a record-breaking rally in the previous trade as investors went in for profit-taking amid weak trends from Asian markets.

The hotter-than-expected U.S. inflation data also hit investors’ sentiment as it reduced hopes of rate cuts by the Federal Reserve.

The 30-share BSE Sensex declined 324.12 points to 74,714.03. The NSE Nifty dipped 96.6 points to 22,657.20.

From the Sensex basket, JSW Steel, Maruti, Asian Paints, ITC, Kotak Mahindra Bank and HDFC Bank were the major laggards.

NTPC, Tata Motors, Larsen & Toubro and Nestle were among the gainers.

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

Wall Street ended mostly with gains on April 11.

“The hotter-than-expected US inflation has spiked the U.S. bond yields. This is negative for FPI inflows but is unlikely to impact the Indian market which is resilient, and the rally is driven mainly by domestic liquidity,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

From the global equity market perspective, sticky U.S. inflation is a negative since it has reduced hopes of three rate cuts by the U.S., he added.

“But it is important to note that there is a real positive factor in the sticky inflation, and that is the exceptionally strong US economy which is showing no signs of a slowdown, let alone recession. This resilience of the US economy will support earnings growth and, therefore, the US stock market. This favourable backdrop will be positive for other markets, including India,” Mr. Vijayakumar said.

Global oil benchmark Brent crude climbed 0.58% to $90.26 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,778.17 crore on April 10, according to exchange data.

“Market sentiments were shaken by the US CPI inflation data, questioning the Fed’s rate-cut plans and prompting a bearish outlook on potential rate cuts for 2024,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Despite this, hopes for robust Q4 corporate earnings and a pre-election rally remain positive catalysts, as reflected in net buying by both FIIs and DIIs, he added.

The BSE benchmark climbed 354.45 points or 0.47% to settle at an all-time high of 75,038.15 on April 10. The Nifty advanced by 111.05 points or 0.49% to reach a record closing peak of 22,753.80. During the day, it jumped 132.95 points or 0.58 per cent to hit a lifetime intra-day peak of 22,775.70.

Stock markets were closed on April 11 on account of Eid-Ul-Fitr.

Benchmark equity indices Sensex and Nifty rebounded sharply on Wednesday following heavy buying in index majors Reliance Industries and HDFC Bank.

The 30-share BSE Sensex climbed 526.01 points or 0.73% to settle at 72,996.31. During the day, it jumped 668.43 points or 0.92% to 73,138.73.

The NSE Nifty went up by 118.95 points or 0.54% to 22,123.65.

From the Sensex basket, Reliance Industries jumped 3.50%, contributing the most to the rise. Maruti, Bajaj Finance, Titan, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Mahindra & Mahindra and Larsen & Toubro were among the major gainers.

Wipro, HCL Technologies, Nestle, Tata Consultancy Services and Tata Motors were among the laggards.

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

European markets were trading on a mixed note. Wall Street ended in negative territory on Tuesday.

Foreign Institutional Investors (FIIs) turned net buyers on Tuesday, as they bought equities worth ₹10.13 crore, according to exchange data.

Global oil benchmark Brent crude declined 0.96% to $85.42 a barrel.

On Tuesday, the BSE benchmark declined by 361.64 points or 0.50% to settle at 72,470.30. The NSE Nifty dropped 92.05 points or 0.42% to 22,004.70.

Equity benchmark indices Sensex and Nifty on October 27, 2023 reversed their six-session losing streak and rebounded more than 1%/ 
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty on Friday (October 27) reversed their six-session losing streak and rebounded more than 1% on value buying in auto, IT, financial and energy stocks.

Better than expected quarterly financial results of corporates also boosted investor sentiments even as uncertainties persisted over the escalating tensions in the Middle East, according to analysts.

In a largely range-bound trade, the 30-share BSE Sensex rose 634.65 points or 1.01% to settle at 63,782.80 points. During the session, it swung between a high of 63,913.13 points and a low of 63,393.37 points.

Likewise, the wider gauge Nifty surged 202.45 points or 1.07% to 19,059.70 points.

“The domestic market recovered well compared to yesterday’s sharp corrections, due to restrained FII selling along with moderation in currency and global bond yield volatility.

“To date, the Q2 results outcome is decent, which is in line with the buoyant estimate. Yet, the market is not enthusiastic as we are at the cusp of earnings downgrade in anticipation of a further slowdown in the world economy due to elevated interest rates and geopolitical risk,” Vinod Nair, Head of Research at Geojit Financial Services, said.

Axis Bank was the biggest gainer in the Sensex pack, rising 3.07%, followed by HCL Tech, SBI, NTPC, Tata Motors, Nestle India, and Infosys.

Shares of index heavyweight Reliance Industries witnessed heavy buying as it surged 1.75% to close at ₹2,265.25 apiece. The company will announce its quarterly financial numbers after market hours.

Maruti Suzuki India on Friday reported a whopping 80.3% increase in net profit at ₹3,716.5 crore in the July-September quarter driven by better sales, softening commodity prices, cost reduction efforts and higher non-operating income.

On the other hand, Asian Paints, Ultratech Cement and ITC were the laggards.

In the broader market, the BSE midcap gauge gained 1.70% and the smallcap index rose 1.89%.

All the sectoral indices ended in the green, utility gained 2.22%, power jumped 2.04%, services (1.79%), industrial (1.63%), realty (1.63%) and IT (1.36%).

In six trading sessions till October 26, Sensex had declined 3,279.94 points.

In Asian markets, Seoul, Shanghai, Tokyo and Hong Kong ended with significant gains on Friday.

European markets were trading on a mixed note. The U.S. equity indices ended in negative territory on Thursday.

Global oil benchmark Brent crude rose 2.50$ to $90.13 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹7,702.53 crore on Thursday, according to exchange data.

Equity benchmark indices rebounded in early trade on October 27 after facing massive drubbing of late amid recovery in Asian markets.
| Photo Credit: Paul Noronha

Equity benchmark indices rebounded in early trade on October 27 after facing massive drubbing of late amid recovery in Asian markets.

The 30-share BSE Sensex jumped 411.17 points to 63,559.32 in early trade. The Nifty climbed 115.9 points to 18,973.15.

Among the Sensex firms, NTPC, Mahindra & Mahindra, State Bank of India, Infosys and Maruti were the major gainers.

Asian Paints emerged as the only laggard from the pack.

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

The U.S. markets ended lower on October 26.

The European Central Bank left interest rates unchanged on October 26 for the first time in over a year.

“After six continuous days of losses triggered by the elevated bond yields in the U.S. and tensions in West Asia, the market appears to be oversold,” V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

He added that the US economy’s resilience is surprising.

“The Q3 GDP growth at 4.9% means the Fed will continue to be hawkish and the likely ‘higher for longer’ interest rate regime is negative from the stock market perspective,” Mr. Vijayakumar added.

On the positive side, valuations in India, which were high, have now turned fair, and in sectors like banking valuations are attractive, he said.

Global oil benchmark Brent crude jumped 1.25% to $89.03 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹7,702.53 crore on October 26, according to exchange data.

The BSE benchmark slumped 900.91 points or 1.41% to settle below the 64,000 mark at 63,148.15 on October 26. The Nifty dived 264.90 points or 1.39% to 18,857.25.