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

Equity benchmark indices Sensex and Nifty hit fresh lifetime high levels before closing flat due to profit-taking in select banking and telecom shares amid concerns over rich valuations on Tuesday.

The 30-share BSE Sensex declined 34.74 points or 0.04% to settle at 79,441.45 in a volatile trade. 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.

Among the Sensex pack, Kotak Mahindra Bank, Bharti Airtel, IndusInd Bank, Tata Motors, ICICI Bank, Bajaj Finance, State Bank of India and Titan were the biggest laggards.

Larsen & Toubro, Infosys, HDFC Bank, Tata Consultancy Services, HCL Technologies and Tata Steel were the biggest gainers.

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

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

European markets were trading down. U.S. markets ended in the green on Monday.

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

Global oil benchmark Brent crude climbed 0.66% to $87.17 a barrel.

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

Equity benchmark indices Sensex and Nifty hit their fresh record levels on Thursday after lower inflation numbers raised hopes of an interest rate cut by the RBI.

Besides, heavy buying in capital goods, consumer durable and industrial stocks also helped the indices, traders said.

Retail inflation continued its downward slide to reach a one-year low of 4.75% in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank’s comfort zone of below 6%, according to government data released on Wednesday.

Rising for the second day in a row, the 30-share BSE Sensex jumped 538.89 points or 0.70 to hit its lifetime peak of 77,145.46. It later ended at a fresh record high at 76,810.90; up 204.33 points or 0.27%.

The NSE Nifty rallied 75.95 points or 0.33% to settle at a new closing high of 23,398.90. During the day, it climbed 158.1 points or 0.67% to its record peak of 23,481.05.

Among the 30 Sensex companies, Mahindra & Mahindra, Titan, Larsen & Toubro, IndusInd Bank, Tech Mahindra, UltraTech Cement, Wipro, Tata Consultancy Services, Bajaj Finance and Nestle were the biggest gainers.

On the other hand, Hindustan Unilever, Power Grid, Axis Bank, Bharti Airtel, ICICI Bank and ITC were among the laggards.

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

European markets were trading lower. U.S. markets ended mostly with gains.

“There is good news on the inflation front, both in the U.S. and in India. The takeaway from the inflation numbers is that the disinflation process is well on track. From the market perspective, this is positive news, particularly for banking stocks,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Federal Reserve officials said on Wednesday that inflation has fallen further toward their target level in recent months but signalled that they expect to cut their benchmark interest rate just once this year.

The policymakers’ forecast for one rate cut was down from a previous forecast of three, likely because inflation, despite having cooled in the past two months, remains persistently elevated.

Global oil benchmark Brent crude declined 0.71% to $82.01 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹426.63 crore on Wednesday, according to exchange data.

The BSE benchmark climbed 149.98 points or 0.20% to settle at 76,606.57 on Wednesday. The Nifty ended at 23,322.95, up 58.10 points or 0.25%.

The Bombay Stock Exchange (BSE) building, in Mumbai. File
| Photo Credit: PTI

Benchmark equity indices Sensex and Nifty tumbled about 1.5% on May 09 amid heavy foreign fund outflows and selling in HDFC Bank, Larsen & Toubro and Reliance Industries.

Declining for the third day running, the 30-share BSE Sensex dropped 1,062.22 points or 1.45% to settle at 72,404.17. During the day, it tanked 1,132.21 points or 1.54% to 72,334.18.

The NSE Nifty dived 345 points or 1.55% to 21,957.50. During the day, it tumbled 370.1 points or 1.65% to 21,932.40.

From the Sensex basket, Larsen & Toubro tanked over 5% after March quarter earnings.

Asian Paints, JSW Steel, ITC, Bajaj Finance, IndusInd Bank, Tata Steel, NTPC, Bajaj Finserv, HDFC Bank, Reliance Industries and Power Grid were among the laggards.

In contrast, Tata Motors, Mahindra & Mahindra, State Bank of India, Infosys and HCL Tech were the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹6,669.10 crore on May 08, according to exchange data.

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

European markets were trading on a mixed note.

Wall Street closed mixed in overnight trade on Wednesday.

Global oil benchmark Brent crude climbed 0.48% to $83.89 a barrel.

The 30-share BSE Sensex declined 45.46 points or 0.06% to settle at 73,466.39 on May 08. The NSE Nifty remained unchanged at 22,302.50.

Equity benchmark indices Sensex and Nifty rebounded sharply to hit record fresh highs on April 04, 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 April 03, will announce the decision on April 05.

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

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 April 05. “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 U.S. markets closed Wednesday’s session on a mixed note.

Meanwhile, global oil benchmark Brent crude climbed 0.36% to $88.67 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,213.56 crore on April 03, according to exchange data.

On April 03, the BSE benchmark Sensex declined by 27.09 points or 0.04% to settle at 73,876.82. The NSE Nifty declined 18.65 points or 0.08% to 22,434.65.

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.