From the 30 Sensex firms, Kotak Mahindra Bank tanked more than 4% after the company’s quarterly earnings failed to cheer investors.
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty gave up initial gains and ended lower on Monday (October 21, 2024) tracking a sharp fall in Kotak Mahindra Bank and relentless foreign fund outflows.

The 30-share Sensex declined 73.48 points or 0.09% to settle at 81,151.27. The barometer shot 545 points at the opening but succumbed to selling pressure later and hit a low of 80,811.23. The index gyrated 958.79 points between the day’s high and the low level. The NSE Nifty dipped 72.95 points or 0.29% to 24,781.10.

From the 30 Sensex firms, Kotak Mahindra Bank tanked more than 4% after the company’s quarterly earnings failed to cheer investors. Bajaj Finserv, IndusInd Bank, Adani Ports, UltraTech Cement, Bajaj Finance, Tata Consultancy Services, Infosys, Bharti Airtel, Hindustan Unilever and JSW Steel were the other big laggards.

HDFC Bank climbed nearly 3% 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. Asian Paints, Mahindra & Mahindra, Reliance Industries, Maruti and Tech Mahindra were also among the gainers.

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.

In Asian markets, Tokyo and Hong Kong settled lower while Seoul and Shanghai ended higher. European markets were trading lower. The U.S. markets ended higher on Friday. Global oil benchmark Brent crude climbed 1.04% to ₹73.82 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. The Nifty ended 104.20 points or 0.42% higher at 24,854.05.

Market benchmark indices Sensex and Nifty slumped on Thursday (October 17, 2024), taking their downward trend to the third day
| Photo Credit: Getty Images

Market benchmark indices Sensex and Nifty slumped on Thursday (October 17, 2024), taking their downward trend to the third day running amid unabated foreign fund outflows.

Intense selling in realty, auto, consumer discretionary and consumer durable stocks also dragged the markets lower.

The BSE Sensex tanked 494.75 points or 0.61% to settle at 81,006.61. During the day, it tumbled 595.72 points or 0.73% to 80,905.64.

The NSE Nifty slumped 221.45 points or 0.89% to 24,749.85.

From the 30 Sensex firms, Nestle declined over 3% after the FMCG major reported a decline of 0.94% in its net profit at ₹899.49 crore for the second quarter that ended September 2024, as some of its key brands faced softer consumer demand and high commodity prices.

Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Titan, Maruti, Axis Bank and Tata Steel were among the other big laggards.

However, Tech Mahindra, Infosys, Power Grid, Larsen & Toubro and State Bank of India were among the biggest gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,435.94 crore on Wednesday (October 16), according to exchange data.

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

European markets were trading higher in mid-session deals. The U.S. markets ended in positive territory on Wednesday (October 16, 2024).

Global oil benchmark Brent crude climbed 0.27% to $74.42 a barrel.

Falling for the second day, the BSE benchmark declined by 318.76 points or 0.39% to settle at 81,501.36 on Wednesday (October 16, 2024). The Nifty declined by 86.05 points or 0.34% to 24,971.30.

According to a stock analysit, the stock markets may continue to exhibit intra-day volatility ahead of the monetary policy announcement on Friday, October 6.
| Photo Credit: The Hindu

Equity benchmark indices declined in early trade on Wednesday, October 4, 2023, extending their previous day’s fall, in line with weak global market trends and unabated foreign fund outflows.

The 30-share BSE Sensex plunged 533.13 points to 64,978.97. The Nifty declined 153.35 points to 19,375.40.

Among the Sensex firms, NTPC, Axis Bank, IndusInd Bank, Maruti, UltraTech Cement, ICICI Bank, Tata Steel and Bajaj Finserv were the major laggards.

Nestle, Hindustan Unilever, HDFC Bank and Asian Paints were among the gainers.

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

The US markets ended with over 1 per cent fall on Tuesday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,034.14 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude declined 0.10 per cent to USD 90.83 a barrel.

“Global cues are negative for markets in the near-term. The sustained rise in the US bond yields, which has triggered continuous FII selling, is showing no signs of abating. The dollar index is now clearly above 107 and the US 10-year bond yield is at 4.83 per cent. This means FIIs will continue to sell and the bulls will be on the back foot,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

He further said that on the positive side, valuations in some segments are becoming attractive and this may push DIIs (Domestic Institutional Investors) and retail investors to buy stocks in such segments.

The BSE benchmark had declined 316.31 points or 0.48 per cent to settle at 65,512.10 on Tuesday. The Nifty fell 109.55 points or 0.56 per cent to end at 19,528.75.

“Markets may continue to exhibit intra-day volatility ahead of the monetary policy announcement on Friday. The real culprit over the current pessimism is FII selling,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.