A sub-broker makes flower offerings before the statue of a bull outside the Bombay Stock Exchange (BSE) ahead of trading in Mumbai. File photo
| Photo Credit: The Hindu

Equity benchmark indices maintained their winning momentum for the third day running in early trade on Tuesday, July 16, 2024, with the Nifty hitting its new all-time peak, amid foreign fund inflows and a rally in the US markets.

The 30-share BSE Sensex climbed 185.55 points to 80,850.41 in early trade. The NSE Nifty rallied 63.35 points to hit a new all-time peak of 24,650.05.

Among the Sensex pack, Bharti Airtel, Mahindra & Mahindra, Hindustan Unilever, Tata Steel, Adani Ports, Infosys, ICICI Bank and Titan were the biggest winners.

Power Grid, Larsen & Toubro, Kotak Mahindra Bank and Axis Bank were among the laggards.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,684.78 crore on Monday, according to exchange data.

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

US markets ended in positive territory on Monday.

Global oil benchmark Brent crude dipped 0.27 per cent to USD 84.62 a barrel.

The BSE benchmark climbed 145.52 points or 0.18 per cent to settle at a new record high of 80,664.86 on Monday.

The NSE Nifty rallied 84.55 points or 0.35 per cent to settle at an all-time closing high of 24,586.70.

Among Sensex shares, State Bank of India, NTPC, UltraTech Cement, Mahindra & Mahindra, Bajaj Finance, Tata Motors, Maruti and ITC were the biggest winners.
| Photo Credit: Reuters

Benchmark Sensex and Nifty closed at new record high levels on July 15 helped by fresh foreign fund inflows and buying in State Bank of India.

The 30-share BSE Sensex climbed 145.52 points or 0.18% to settle at a new record high of 80,664.86. During the day, it advanced 343.2 points or 0.42% to hit a high of 80,862.54.

The NSE Nifty rallied 84.55 points or 0.35% to settle at an all-time closing high of 24,586.70. During the day, it surged 132.9 points or 0.54% to hit a new record peak of 24,635.05.

Among Sensex shares, State Bank of India, NTPC, UltraTech Cement, Mahindra & Mahindra, Bajaj Finance, Tata Motors, Maruti and ITC were the biggest winners.

On the other hand, Asian Paints, Tata Steel, Axis Bank, JSW Steel, Tech Mahindra and Tata Consultancy Services were among the laggards.

In Asian markets, Seoul and Shanghai settled higher while Hong Kong ended lower. European markets were trading lower. The U.S. markets ended in positive territory on July 12.

Foreign Institutional Investors (FIIs) bought equities worth ₹4,021.60 crore on Friday, according to exchange data. Global oil benchmark Brent crude climbed 0.18% to $85.15 a barrel.

The BSE benchmark jumped 622 points or 0.78% to settle at 80,519.34 on Friday. Nifty surged 186.20 points or 0.77% to settle at 24,502.15.

Quarterly earnings from several blue-chip firms, including Infosys and Reliance Industries, global trends, and trading activity of foreign investors, would act as major driving factors for equity markets’ movement in a holiday-shortened week ahead, analysts said.

The domestic WPI inflation data for June — scheduled to be announced on Monday — will also influence trading sentiments, traders said.

Markets will remain closed on Wednesday for Muharram.

Among major quarterly earnings to be tracked this week are from HDFC Life Insurance Company, Bajaj Auto, BPCL, JSW Steel, Asian Paints, Infosys, and Reliance Industries. “Q1 earnings will be a key focus this week as numerous companies, including heavyweights Infosys, and Reliance, are set to release their results. Additionally, pre-Budget discussions are expected to contribute to market volatility,” Santosh Meena, Head of Research, Swastika Investmart Ltd, said.

On the global front, a significant focus will be on China. The country is scheduled to announce its GDP and Industrial Production (IIP) numbers, Mr. Meena said. “Other global factors to watch include the speech by the US Federal Reserve Chairman, US retail sales figures, and macroeconomic data from Japan,” he added.

Meanwhile, IT services company HCL Tech on July 12 posted a 20.4% rise in consolidated net profit to ₹4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5% for FY25 on GenAI diversification and strong operational execution.

“On Monday, markets will react to India’s inflation data. Key results this week include Jio Financial Services, HDFC Life, Asian Paints, LTIMindtree, Infosys, Wipro, JSW Steel, Paytm, etc. Also globally, investors will take cues from China’s GDP numbers, US core retail sales data, and ECB (European Central Bank) interest rate decision,” Siddhartha Khemka, Head, Retail Research, Motilal Oswal Financial Services Ltd, said.

Retail inflation increased to four-month high of 5.08% in June as food items, including vegetables, became dearer, according to government data released on July 12.

Vinod Nair, Head of Research, Geojit Financial Services, said, “We expect stock-specific moves to gain traction due to the ongoing earnings season; indeed, IT will be in the limelight due to the good start to the earnings and outlook.” In the week ahead, economic data like China GDP, EuroZone CPI inflation, ECB policy, and the US Fed chair speech will be watched by investors to get cues on market momentum, he added.

On a weekly basis, the BSE benchmark jumped 522.74 points, or 0.65%, while the Nifty climbed 178.3 points, or 0.73%. The 30-share BSE Sensex jumped 622 points, or 0.78 per cent, to settle at a record closing level of 80,519.34 on Friday. During the day, it zoomed 996.17 points, or 1.24%, to hit an all-time high of 80,893.51.

The NSE Nifty surged 186.20 points, or 0.77%, to settle at a record closing high of 24,502.15. Intra-day, it jumped 276.25 points, or 1.13%, to hit a new lifetime peak of 24,592.20.

The bull statue at the Bombay Stock Exchange building, in Mumba.
| Photo Credit: PTI

Equity benchmark indices rallied in early trade on Friday, July 12, 2024, amid buying in IT stocks after TCS announced its June quarter earnings.

The 30-share BSE Sensex climbed 226.11 points to 80,123.45 in early trade. The NSE Nifty went up by 82.1 points to 24,398.05.

Among the Sensex pack, Tata Consultancy Services climbed over 2 per cent after the country’s largest IT services player reported 8.7 per cent growth in the June quarter net profit at ₹12,040 crore.

Infosys, Axis Bank, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and HCL Technologies were the other major gainers.

Maruti, Asian Paints, Bharti Airtel and ITC were among the laggards.

“The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

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

US markets ended mostly lower on Thursday.

Global oil benchmark Brent crude climbed 0.25 per cent to USD 85.59 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,137.01 crore on Thursday, according to exchange data.

Retreating from early highs, the BSE benchmark closed lower by 27.43 points or 0.03 per cent at 79,897.34 on Thursday. The NSE Nifty edged down 8.50 points or 0.03 per cent to settle at 24,315.95.

The BSE benchmark climbed 391.26 points or 0.49% to settle at a new closing peak of 80,351.64 on Tuesday. File.
| Photo Credit: PTI

Equity benchmark indices declined after hitting their fresh record high levels in early trade on July 10 amid weak global market trends.

The 30-share BSE Sensex climbed 129.72 points to hit a new all-time high of 80,481.36 during the opening trade. But, soon the benchmark retreated and declined 207.47 points to 80,144.17.

The NSE Nifty also hit its fresh lifetime high of 24,461.05 in opening deals but pared all the gains and dipped 49.6 points to 24,383.60.

Among the Sensex pack, Mahindra & Mahindra, JSW Steel, Kotak Mahindra Bank, Axis Bank, State Bank of India and ICICI Bank were the biggest laggards.

Maruti, Adani Ports, NTPC and Bharti Airtel were among the winners.

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

US markets ended on a mixed note on Tuesday.

Global oil benchmark Brent crude declined 0.24% to $84.46 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 314.46 crore on Tuesday, according to exchange data.

The BSE benchmark climbed 391.26 points or 0.49% to settle at a new closing peak of 80,351.64 on Tuesday.

The NSE Nifty went up by 112.65 points or 0.46% to 24,433.20 — its record closing high.

Mixed cues from Asian markets added to the muted trend in domestic equities. File.
| Photo Credit: PTI

Equity benchmark indices declined in early trade on July 8 as investors opted to book profits after the recent record rally in equities.

Mixed cues from Asian markets also added to the muted trend in domestic equities.

After beginning the trade on a weak note, the 30-share BSE Sensex further declined 204.39 points to 79,792.21. The NSE Nifty dipped 40.75 points to 24,283.10.

Among the Sensex pack, Titan, Asian Paints, Adani Ports, Bajaj Finserv, UltraTech Cement and Maruti were the biggest laggards.

Tata Motors, Tech Mahindra, ICICI Bank and State Bank of India were among the gainers.

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

US markets ended with gains on Friday.

In a volatile session on Friday, the broader NSE Nifty continued its record-breaking run and inched up 21.70 points or 0.09 per cent to close at its lifetime high of 24,323.85. The BSE benchmark, however, dropped 53.07 points or 0.07 per cent to settle at 79,996.60.

Global oil benchmark Brent crude dipped 0.09 per cent to USD 86.46 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,241.33 crore on Friday, according to exchange data.

The Sensex breached the historic 80,000 mark for the first time ever and the Nifty hit a fresh record peak of 24,292.15 on July 3, 2024.
| Photo Credit: PTI

Equity benchmark indices Sensex and Nifty ticked higher to close at fresh all-time high levels on July 4, following buying in market heavyweights ICICI Bank, Infosys and TCS amid a largely positive trend in global equities.

The 30-share BSE Sensex scaled an intraday record high of 80,392.64 in early trade. The index pared most of the gains later due to volatility and profit-taking by investors at record levels. 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 with 23 of its shares closing higher and 27 with losses.

“The defensive bet on large caps like IT and pharma gained momentum due to the diminishing U.S. inflationary pressure, improvement in QoQ earnings outlook and a resultant sharp fall in the U.S. 10-year bond yield.

“The buoyancy in government spending and the green shoots in corporate earnings are now supporting the premium valuation. Return of FIIs to the domestic market and expectation of a rate cut in September are supporting market sentiment,” Vinod Nair, Head of Research at Geojit Financial Services, said.

Among Sensex shares, HCL Technologies, ICICI Bank, Tata Motors, Sun Pharmaceuticals, Tata Consultancy Services, Infosys, Kotak Mahindra Bank and Mahindra and Mahindra were the gainers.

In contrast, HDFC Bank, Bajaj Finance, Larsen & Toubro, Tech Mahindra, UltraTech Cement and IndusInd Bank were among the laggards.

Analysts said that stock markets traded within a narrow range and ended nearly unchanged.

“The Nifty has approached its immediate target of 24,500 and appears slightly overextended. It would be prudent to take some profits and wait for a potential dip before considering new long positions in the index,” Ajit Mishra – SVP, Research, Religare Broking Ltd said.

In the broader market, the BSE Smallcap gauge jumped 0.62% and the midcap index climbed 0.60%.

Among the indices, healthcare soared by 1.17%, IT jumped by 1.12%, tech by 0.98 %, auto by 0.88% and telecommunication rose by 0.73%.

However, consumer durables fell by 0.22%, FMCG (0.15%), financial services (0.13%), and Oil & Gas (0.02%).

A total of 2,185 stocks advanced while 1,742 declined and 94 remained unchanged on the BSE.

As many as 23 Nifty shares advanced, 27 declined on the exchange.

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

European markets were trading in the green territory in mid-session deals.

U.S. markets ended higher on Wednesday during the shortened trading session. Stock exchanges will remain closed on Thursday on account of Independence Day.

Global oil benchmark Brent crude fell 0.52% to $86.89 a barre.

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

A view of the BSE building in Mumbai.
| Photo Credit: Paul Noronha

Benchmark BSE Sensex breached the historic 80,000 level intraday for the first time while Nifty raced more than 162 points to a fresh lifetime high on Wednesday following heavy buying in banking and FMCG shares amid firm global market trends.

The 30-share Sensex hit the historic 80,000 mark for the first time earlier in the day. It surged 632.85 points or 0.79% to hit 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.

The BSE Sensex breached the 78,000 level on June 25 and 79,000 for the first time on June 27.

The Nifty climbed 162.65 points or 0.67% to an all-time high of 24,286.50. During the day, it zoomed 183.4 points or 0.76% to hit a fresh intraday record peak of 24,307.25.

Among the Sensex pack, Adani Ports, Kotak Mahindra Bank, HDFC Bank, Axis Bank, IndusInd Bank, State Bank of India, Power Grid, JSW Steel, Bajaj Finance and Tata Steel were the biggest gainers.

Tata Consultancy Services, Titan, Reliance Industries, Tata Motors and Larsen & Toubro were the laggards.

In Asian markets, Seoul, Tokyo and Hong Kong settled in the positive territory while Shanghai ended lower. European markets were trading with gains. U.S. markets ended higher on Tuesday.

The BSE benchmark declined 34.74 points or 0.04% to settle at 79,441.45 in a volatile trade on Tuesday. During the day, it jumped 379.68 points or 0.47% to hit a record peak of 79,855.87.

The Nifty declined by 18.10 points or 0.07% to 24,123.85. Intra-day, it climbed 94.4 points or 0.39% to hit a lifetime high of 24,236.35.

Global oil benchmark Brent crude climbed 0.09% to $86.32 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,000.12 crore on Tuesday, according to exchange data.

Photo used for representation purpose only.
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty hit their fresh lifetime high levels in early trade on July 2, amid a rally in global markets and buying in IT stocks.

The 30-share BSE Sensex jumped 379.68 points to hit a record peak of 79,855.87 in early trade. The Nifty climbed 94.4 points to hit a lifetime high of 24,236.35.

Among the Sensex pack, HCL Technologies, Tata Consultancy Services, Infosys, Bharti Airtel, HDFC Bank and Power Grid were the biggest gainers.

Tata Motors, Bajaj Finance, Kotak Mahindra Bank and ICICI Bank were among the laggards.

The benchmark indices opened on a bullish note and hit all-time high levels, but soon profit booking emerged, the indices pared early gains and were trading in the negative territory.

The BSE Sensex was trading down 77.93 points, or 0.10 per cent, to 79,398.26 points. The broader NSE Nifty fell 25.65 points, or 0.11 per cent, to 24,116.30 points.

On Monday, the BSE benchmark settled higher by 443.46 points or 0.56 per cent at an all-time high of 79,476.19. The Nifty climbed 131.35 points or 0.55 per cent to settle at a fresh lifetime high of 24,141.95.

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

US markets ended in the green on Monday.

India’s gross GST collection increased 8 per cent to Rs 1.74 lakh crore in June, sources said on Monday.

Global oil benchmark Brent crude climbed 0.23 per cent to USD 86.80 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 426.03 crore on Monday, according to exchange data.

FPIs also invested ₹14,955 crore in the debt market in June. 
| Photo Credit: PTI

After two months of net outflow, foreign investors turned buyers in June, infusing ₹26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets.

“Looking ahead, attention will gradually shift towards the Budget and Q1 FY25 earnings, which could determine the sustainability of FPI flows,” Vipul Bhowar, director, Listed Investments, Waterfield Advisors, said.

According to the data with the depositories, Foreign Portfolio Investors (FPIs) have made a net infusion of ₹26,565 crore in equities this month.

This came following a net outflow of ₹25,586 crore in May on poll jitters and more than ₹8,700 crore in April on concerns over a tweak in India’s tax treaty with Mauritius and a sustained rise in U.S. bond yields.

Before that, FPIs made a net investment of ₹35,098 crore in March and ₹1,539 crore in February, while they took out ₹25,743 crore in January. The net outflow now stood at ₹3,200 crore in the month, data with the depositories showed.

Geojit Financial Services Chief Investment Strategist V. K. Vijayakumar said political stability, despite the BJP not getting a majority on its own, and the sharp rebound in markets aided by steady domestic institutional investors (DIIs) buying and aggressive retail buying, has forced the FPIs to turn buyers in India.

“However, the FPI buying has been focussed on a few specific stocks rather than being widespread across the market or sectors. This is because Indian equities are still considered overvalued by FPIs,” Mr. Bhowar said.

They are favouring the financial, auto, capital goods, real estate, and select consumer sectors.

“With government stability assured, impressive GDP performance and forecasts, stable consumer price index, ample forex reserves and robust banking sector health, I anticipate a steady and substantial FPI inflow,” Kislay Upadhyay, smallcase Manager & Founder Fidelfolio, said.

Additionally, FPIs invested ₹14,955 crore in the debt market in June. With this, FPIs’ investment in the debt market reached ₹68,624 crore in 2024 so far. India’s inclusion in the JP Morgan Bond Index is positive.

In the long term, this will reduce the cost of borrowing for the government and the cost of capital for corporates. This is positive for the economy and therefore, for the equity and debt market.