Equity benchmark indices rebounded in early trade on Thursday, May 2, 2024, amid optimistic investors’ sentiment boosted by a record high GST collections in April and foreign fund inflows.

The 30-share BSE Sensex climbed 204.88 points to 74,687.66 in early trade. The NSE Nifty went up by 57.35 points to 22,662.20.

From the Sensex basket, Power Grid, Mahindra & Mahindra, Asian Paints, Tata Steel, Sun Pharma and HDFC Bank were among the major gainers.

Kotak Mahindra Bank, Maruti, Wipro and Titan were among the laggards.

Goods and Services Tax collections grew 12.4 per cent to a record high of Rs 2.10 lakh crore in April, aided by strong economic momentum and increased domestic transactions and imports, the finance ministry said on Wednesday.

The GST collections have breached the ₹2 lakh crore-mark for the first time in April this year, it said in a statement.

“The domestic cues are strongly positive. The GST collection for April setting a record of Rs 2.1 trillion indicates a booming economy,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

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

Wall Street ended on a mixed note on Wednesday.

Global oil benchmark Brent crude climbed 0.53 per cent to USD 83.88 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,071.93 crore on Tuesday, according to exchange data.

“Positive factors include record-high GST revenue, FIIs and DIIs being net buyers, and WTI oil prices falling below USD 80 a barrel,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Domestic equity markets were closed on Wednesday on account of Maharashtra Day.

Snapping its two-day winning run, the BSE benchmark declined 188.50 points or 0.25 per cent to settle at 74,482.78 on Tuesday. The NSE Nifty dipped 38.55 points or 0.17 per cent to finish at 22,604.85.

A security guard walks past the logo of the National Stock Exchange (NSE) in Mumbai. File photo
| Photo Credit: Reuters

Benchmark equity indices rebounded after two consecutive days of fall on Thursday, April 4, 2024, with Sensex and Nifty touching their all-time high levels as investors rushed to value-buying in bellwether stocks ahead of quarterly result announcements amid mixed global trends.

The 30-share BSE Sensex surged 497.06 points or 0.67 per cent to hit all-time high of 74,373.88. The NSE Nifty climbed 144.70 points or 0.64 per cent to hit its fresh peak of 22,579.35.

Both the indices had ended lower in the previous two sessions.

Sensex recorded its previous peak on April 1 when it touched the intra-day high of 74,254.62. It had closed the session at 74,014. On the same day, Nifty also hit its peak closing level of 22,462. The 50-share benchmark had touched the intra-day high of 22,529.95.

Among the Sensex constituents, 28 stocks were trading in green with HDFC Bank, NTPC, PowerGrid, Tata Steel, and Axis Bank being the major gainers.

IndusInd Bank and ICICI Bank were the only two defiants.

On the 50-share barometer NSE Nifty, as many as 46 shares were in the positive zone.

According to V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, global and domestic cues indicate that the market is likely to consolidate in the coming days and start responding to Q4 results as they start coming. So, Q4 results will be the next major trigger for the market from a sectoral and stock-specific perspective.

“Market expects good results from autos, capital goods, telecom and select pharmaceuticals. Financials, too, will report good results despite some NIM compression and, therefore, are likely to be favoured by investors,” he said.

Asian markets were not trading. European markets ended Wednesday’s session in green. The US markets closed with mixed note. S&P 500 and Nasdaq gained while Dow closed with a marginal loss.

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

Global oil benchmark Brent crude climbed 0.37 per cent to USD 88.68 a barrel.

The BSE benchmark fell by 352.67 points or 0.48% to settle at 72,790.13 on Feb. 26. The Nifty declined 90.65 points or 0.41% to 22,122.05.. File (representational image)
| Photo Credit: Reuters

Equity benchmark indices began the trade on a weak note on February 27 tracking sluggish global market trends and fresh foreign fund outflows.

The 30-share BSE Sensex declined 130 points to 72,660.13 in early trade. The Nifty dipped 36.4 points to 22,085.65.

Later, both the benchmark indices recovered the early lost ground and were trading marginally higher. The 30-share BSE benchmark quoted 10.30 points up at 72,800.43, and the Nifty traded 8.85 points higher at 22,135.60.

Among the Sensex firms, Axis Bank, Bharti Airtel, HDFC Bank, Larsen & Toubro, Bajaj Finance, ICICI Bank and Reliance Industries were the major laggards.

Tata Consultancy Services, HCL Technologies, Wipro and UltraTech Cement were among the gainers.

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

The U.S. markets ended marginally lower on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹285.15 crore on Monday, according to exchange data.

The BSE benchmark fell by 352.67 points or 0.48% to settle at 72,790.13 on Monday. The Nifty declined 90.65 points or 0.41% to 22,122.05.

“Volatility is expected this week due to F&O contract expiry,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Global oil benchmark Brent crude dipped 0.12% to $82.43 a barrel.

Image used for representative purpose only

Markets opened on a positive note on Thursday, February 15, 2024, with Sensex and Nifty rising in early trade as investors tracked positive Asian and global cues.

The 30-share benchmark Sensex gained 115.89 points or 0.16 per cent to 71,938.72 points while the broader Nifty climbed 36.90 points or 0.17 per cent to 21,876.95 points.

In the Sensex pack, Mahindra and Mahindra, NTPC, Tata Steel, Wipro and Infosys were among the gainers while Reliance Industries and Maruti Suzuki were trading marginally lower.

Deepak Jasani, Head of Retail Research at HDFC Securities, said equities in Asia opened higher Thursday after Wall Street resumed a rally as robust earnings helped overcome worries about persistent inflation.

“All three major stock indexes in the US finished higher on Wednesday, shaking off weakness seen earlier in the day, as investors considered whether there may have been an overreaction to US inflation data in the previous session,” he said.

On Wednesday, domestic equity market reversed its early losses and closed in the positive territory. While Sensex jumped 267.64 points or 0.37 per cent to close at 71,822.83 points, Nifty went up 96.80 points or 0.45 per cent to end the day at 21,840.05 points.

Foreign Institutional Investors (FIIs) were net sellers on Wednesday as they offloaded shares worth ₹3,929.60 crore, according to exchange data.

Equity benchmark indices declined in early trade on Wednesday, October 18, 2023 amid sluggish global market trends and spike in Brent crude oil prices.

After a day’s breather, the 30-share BSE Sensex declined 161.41 points to 66,266.68. The Nifty skidded 36.7 points to 19,774.80.

Among the Sensex firms, Bajaj Finance, Power Grid, Bajaj Finserv, ICICI Bank, HDFC Bank, NTPC and Larsen & Toubro were the major laggards.

Tata Motors, JSW Steel, Tata Steel and Sun Pharma were among the gainers.

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

The US markets had ended on a mixed note on Tuesday.

Global oil benchmark Brent crude jumped 1.87 per cent to $91.58 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹263.68 crore on Tuesday, according to exchange data.

The BSE benchmark had climbed 261.16 points or 0.39 per cent to settle at 66,428.09 on Tuesday. The Nifty gained 79.75 points or 0.40 per cent to 19,811.50.

Stock brokers react as during the market trading hours in Kolkata.
| Photo Credit: ANI

Benchmark equity indices declined in early trade on Wednesday, September 27, 2023, amid weak trends in the US markets and continuous foreign fund outflows.

The 30-share BSE Sensex fell 202.34 points to 65,743.13. The Nifty declined 60.55 points to 19,604.15.

Among the Sensex firms, Bajaj Finance, Tech Mahindra, Tata Steel, HDFC Bank, Titan and ICICI Bank were the major laggards.

Sun Pharma, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the gainers.

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

The US markets ended lower on Tuesday.

Global oil benchmark Brent crude climbed 0.99 per cent to $94.89 a barrel.

“Foreign fund outflows have been the biggest constraint in the month so far. Besides, uptick in global oil prices and worries over more rate hikes in the near term are keeping investors in a tight spot,” Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹693.47 crore on Tuesday, according to exchange data.

“The triple whammy of rising dollar, spiking US bond yields and high Brent crude continues to impact Indian equity markets. The cues from the mother market US also are negative,” V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

The BSE benchmark fell 78.22 points or 0.12 per cent to settle at 65,945.47 on Tuesday. The broader Nifty dipped 9.85 points or 0.05 per cent to end at 19,664.70.

Equity benchmark indices continued their winning momentum on Tuesday September 12 early trade, climbing for the eighth day running, with the Nifty scaling its fresh all-time high level.

A largely firm trend in global markets and fresh foreign fund inflows also added to the positive trend in equities in initial deals.

The 30-share BSE Sensex jumped 412.02 points to 67,539.10 in early trade. The Nifty climbed 114 points to 20,110.35 — its all-time high mark.

Among the Sensex firms, Larsen & Toubro, ICICI Bank, Sun Pharma, JSW Steel, Infosys, Tata Consultancy Services, Axis Bank and Bharti Airtel were the major gainers.

NTPC, Maruti, Hindustan Unilever and Tata Motors were among the laggards.

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

The US markets ended in positive territory on Monday.

“Optimism regarding India’s growth prospects in a low-growth world and a fast decelerating China has triggered this rally enabling the Nifty to cross the psychological 20,000 mark. FIIs, too, have joined the party with a buy figure of Rs 1,473 crore,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

The participation of the fairly valued large banking stocks and RIL make this rally healthy even when the overall market valuation is turning expensive, he added.

Foreign Institutional Investors (FIIs) turned buyers on Monday as they bought equities worth Rs 1,473.09 crore, according to exchange data.

Global oil benchmark Brent crude climbed 0.39 per cent to USD 90.99 a barrel.

The 30-share BSE benchmark regained the 67,000 level on Monday. The benchmark jumped 528.17 points or 0.79 per cent to settle at 67,127.08. The Nifty ended at 19,996.35, reflecting a gain of 176.40 points or 0.89 per cent. The Nifty scaled the record 20,000 mark for the first time ever in intra-day trade.

Equity benchmark indices continued their winning momentum on Tuesday September 12 early trade, climbing for the eighth day running, with the Nifty scaling its fresh all-time high level.

A largely firm trend in global markets and fresh foreign fund inflows also added to the positive trend in equities in initial deals.

The 30-share BSE Sensex jumped 412.02 points to 67,539.10 in early trade. The Nifty climbed 114 points to 20,110.35 — its all-time high mark.

Among the Sensex firms, Larsen & Toubro, ICICI Bank, Sun Pharma, JSW Steel, Infosys, Tata Consultancy Services, Axis Bank and Bharti Airtel were the major gainers.

NTPC, Maruti, Hindustan Unilever and Tata Motors were among the laggards.

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

The US markets ended in positive territory on Monday.

“Optimism regarding India’s growth prospects in a low-growth world and a fast decelerating China has triggered this rally enabling the Nifty to cross the psychological 20,000 mark. FIIs, too, have joined the party with a buy figure of Rs 1,473 crore,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

The participation of the fairly valued large banking stocks and RIL make this rally healthy even when the overall market valuation is turning expensive, he added.

Foreign Institutional Investors (FIIs) turned buyers on Monday as they bought equities worth Rs 1,473.09 crore, according to exchange data.

Global oil benchmark Brent crude climbed 0.39 per cent to USD 90.99 a barrel.

The 30-share BSE benchmark regained the 67,000 level on Monday. The benchmark jumped 528.17 points or 0.79 per cent to settle at 67,127.08. The Nifty ended at 19,996.35, reflecting a gain of 176.40 points or 0.89 per cent. The Nifty scaled the record 20,000 mark for the first time ever in intra-day trade.

Benchmark equity indices declined in early trade on Monday, August 14, 2023 falling for the third day running, amid weak global market trends and fresh foreign fund outflows.

Caution also prevailed in the market ahead of announcement of wholesale and retail inflation numbers for July later in the day.

The 30-share BSE Sensex fell 461.48 points to 64,861.17. The NSE Nifty declined 154.1 points to 19,274.20.

From the Sensex pack, Tata Motors, State Bank of India, JSW Steel, Bajaj Finance, Tata Steel, Bajaj Finserv, Tech Mahindra, Power Grid, Mahindra & Mahindra, Tata Consultancy Services, HCL Technologies and HDFC Bank were the major laggards.

Sun Pharma and Nestle were the gainers.

The US markets ended mostly lower on Friday.

Global oil benchmark, Brent crude, declined 0.85 per cent to $86.07 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,073.28 crore on Friday, according to exchange data.

“The market construct has turned a bit negative. The spike in the dollar index to 103 and the US 10-year bond yield rising to 4.18 are negative for capital flows to emerging markets. The FPI sell figure of ₹3,073 crore last Friday is in tune with these negative trends,” said V.K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.