Image used for representational purpose.
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty crashed 1.6% on Monday (January 6, 2025) due to an across-the-board selloff, as concerns over third-quarter earnings growth and the continued flight of foreign capital sapped risk appetite.

Besides, traders said that the new HMP virus scare, depreciating rupee and weak trend in Asian markets further weighed on sentiment.

Extending losses, the 30-share BSE benchmark Sensex tanked 1,258.12 points or 1.59% to close below the 78,000 level at 77,964.99. During the day, it plunged 1,441.49 points or 1.81% to 77,781.62.

The NSE Nifty slumped 388.70 points or 1.62% to 23,616.05.

From the 30-share blue-chip pack, Tata Steel, NTPC, Kotak Mahindra Bank, IndusInd Bank, Power Grid, Zomato, Adani Ports, Asian Paints, Mahindra & Mahindra and Reliance Industries were among the biggest laggards.

Titan and Sun Pharma were the only gainers.

“The Indian equity markets are witnessing a sharp decline today, with both Nifty and Bank Nifty slipping below their 200-day moving averages (DMA). The sell-off can be attributed to a rise in Foreign Institutional Investor (FII) selling and concerns surrounding the upcoming Q3 earnings season.

“Additionally, fears related to the new HMPV have added to the bearish sentiment, triggering fresh rounds of selling after the recent counter-trend pullback rally,” Santosh Meena, Head of Research, Swastika Investmart, said.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,227.25 crore on Friday after a day’s breather, according to exchange data.

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

European markets were trading on a mixed note. US markets ended in positive territory on Friday.

Global oil benchmark Brent crude dipped 0.25% to $76.32 a barrel.

The BSE benchmark tumbled 720.60 points or 0.90% to close at 79,223.11 on Friday. The Nifty tanked 183.90 points or 0.76% to 24,004.75.

From the Sensex pack, Zomato, HDFC Bank, Tech Mahindra, Adani Ports, Tata Consultancy Services, ICICI Bank, Sun Pharma, Larsen & Toubro, HCL Tech and ITC were the major laggards. File
| Photo Credit: PTI

Equity benchmark indices Sensex and Nifty buckled under selling pressure to settle nearly 1% lower on Friday (January 3, 2025) as investors pared exposure to bank and IT stocks ahead of the earnings season starting next week.

“A depreciating rupee against the U.S. dollar further weighed on sentiment,” traders said.

The 30-share BSE Sensex tumbled 720.60 points or 0.90% to close at 79,223.11 despite a positive beginning. During the day, it slumped 833.98 points or 1.04% to 79,109.73.

The NSE Nifty tanked 183.90 points or 0.76% to 24,004.75.

From the Sensex pack, Zomato, HDFC Bank, Tech Mahindra, Adani Ports, Tata Consultancy Services, ICICI Bank, Sun Pharma, Larsen & Toubro, HCL Tech and ITC were the major laggards.

On the other hand, Tata Motors, Nestle, Titan, Hindustan Unilever and Reliance Industries were among the gainers.

In Asian markets, Seoul and Hong Kong settled in the positive territory while Shanghai ended lower. Japanese markets were closed for the New Year holiday.

Markets in Europe were trading lower. U.S. stocks were in the negative territory on Thursday (January 2, 2025).

Foreign Institutional Investors (FIIs) turned buyers on Thursday (January 2, 2025) after remaining net sellers for the past many days. They bought equities worth Rs 1,506.75 crore, according to exchange data.

The rupee dropped 3 paise to close at a record low of 85.78 (provisional) against the U.S. dollar on Friday (January 3, 2025).

Global oil benchmark Brent crude declined 0.43% to $75.60 a barrel.

In the previous session, the BSE benchmark jumped 1,436.30 points or 1.83% — its best single-day gain in more than a month — to settle at 79,943.71. The Nifty surged 445.75 points or 1.88% to 24,188.65.

Among the 30-share Sensex blue-chip pack, Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, Titan, UltraTech Cement, HCL Technologies, and Power Grid, were the biggest gainers. File
| Photo Credit: The Hindu

Benchmark indices Sensex and Nifty ended sharply higher on Friday (December 13, 2024) amid heavy buying in telecommunication stocks and encouraging domestic inflation data.

After falling 1,207.14 points in morning trade, the 30-share BSE benchmark Sensex recovered all the lost ground later and jumped 843.16 points or 1.04% to settle at 82,133.12. During the day, it surged 923.96 points or 1.13% to 82,213.92.

The NSE Nifty climbed 219.60 points or 0.89% to settle at 24,768.30 after falling 367.9 points in intra-day trade.

Among the 30-share Sensex blue-chip pack, Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, Titan, UltraTech Cement, HCL Technologies, and Power Grid, were the biggest gainers.

Tata Steel, IndusInd Bank, JSW Steel and Bajaj Finserv were the laggards.

Retail inflation declined in November to 5.48% and came within the Reserve Bank’s comfort zone mainly due to easing food prices, creating headroom for a rate cut at the central bank’s rate-setting panel meeting under new Governor Sanjay Malhotra in February.

The Consumer Price Index (CPI) based headline inflation was at 6.21% in October and 5.55% in November 2023.

India’s industrial production (IIP) growth slowed to 3.5% year-on-year in October 2024, mainly due to poor performance of mining, power and manufacturing, as per official data released on Thursday (December 12, 2024).

“The domestic market smartly recovered from the day’s low and moved out of the consolidation path led by index heavyweights. A gradual easing in food inflation and a price hike by FMCG companies, along with a recent correction in valuation, supported the sector to outperform. Currently, the market is anticipating a revival in consumer spending, driven by the festive season and year-end holidays, adding to the sentiments.

“Additionally, expectation of an increase in US spending is propelling the IT sector,” Vinod Nair, Head of Research, Geojit Financial Services, said.

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

Markets in Europe were trading higher. Wall Street ended in the negative territory on Thursday (December 12, 2024).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,560.01 crore on Thursday (December 12, 2024), according to exchange data.

Global oil benchmark Brent crude climbed 0.54% to $73.77 a barrel.

The 30-share BSE benchmark declined 236.18 points or 0.29% to settle at 81,289.96 on Thursday (December 12, 2024). The Nifty dropped 93.10 points or 0.38% to 24,548.70.

In the past five trading days, the BSE benchmark jumped 2,722.12 points, or 3.44%. File
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty ended marginally lower in a highly volatile trade on Friday (December 6, 2024), snapping their five-day rally, after the Reserve Bank of India kept the policy rate unchanged but sharply cut the FY25 GDP growth forecast.

After oscillating between highs and lows during the day, the 30-share BSE benchmark Sensex declined 56.74 points, or 0.07% to finally settle at 81,709.12. Intra-day, it gyrated 419.72 points, hitting a high of 81,925.91 and a low of 81,506.19.

In the past five trading days, the BSE benchmark jumped 2,722.12 points, or 3.44%.

The NSE Nifty dipped 30.60 points, or 0.12%, to settle at 24,677.80.

The Reserve Bank of India on Friday (December 6, 2024) kept its key interest rate unchanged, citing inflation risks, but cut the Cash Reserve Ratio that banks are required to park with the central bank, boosting money with lenders to support a slowing economy.

With India’s GDP seeing a sharper-than-anticipated dip in the July-September period to 5.4% — its slowest pace in seven quarters — inflation on the uptick and rupee under pressure, the Reserve Bank of India (RBI) had few choices to make.

Its monetary policy committee, which consists of three RBI and an equal number of external members, kept the repurchase or repo rate unchanged at 6.5% for a record 11th meeting in a row.

From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies, and ICICI Bank were among the laggards.

Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC, and Tata Steel were among the gainers.

RBI Governor Shaktikanta Das said the Cash Reserve Ratio has been cut by 50 basis points to 4%, effective in two tranches on December 14 and 28.

The cut will infuse ₹1.16 lakh crore into the banking system and soften short-term interest rates. It will also reduce the pressure on bank deposit rates.

“Markets have been rising for the past five trading sessions, and hence a small breather was expected. With the RBI springing no major surprise in its credit policy announcement, investors booked profit on select frontlines.

“Although the undertone remains that of caution, the return of FIIs into local equities through select bullish bets has come as a major reprieve to investors,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Foreign Institutional Investors (FIIs) bought equities worth ₹8,539.91 crore on Thursday (December 5, 2024), according to exchange data.

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

European markets were trading on a mixed note. The U.S. markets ended lower on Thursday (December 5, 2024).

“Though benchmark indices concluded on a flattish trend, Indian broader indices displayed optimism as the RBI acknowledged the downward growth trend while last-mile inflation persisted.

“By lowering the CRR and injecting ₹1.16 lakh crore into the financial system, the RBI aims to stimulate economic growth amid increased liquidity. The overall market exhibited a mixed outlook, reflecting a cautious yet resilient stance, with sector rotation and specific stock movements shaping market sentiment,” Vinod Nair, Head of Research, Geojit Financial Services, said.

Global oil benchmark Brent crude dipped 0.46% to $71.76 a barrel.

Rallying for the fifth day running, the 30-share BSE benchmark jumped 809.53 points, or 1%, to settle at 81,765.86 on Thursday (December 5, 2024). The Nifty surged 240.95 points, or 0.98%, to 24,708.40.

Benchmark Sensex and Nifty closed marginally down in a volatile session on July 11, 2024. File
| Photo Credit: PTI

Benchmark Sensex and Nifty closed marginally down in a volatile session on July 11 as investors booked profits in heavyweights ahead of the announcement of key financial results for the June quarter.

Retreating from early highs, the 30-share BSE Sensex closed lower by 27.43 points or 0.03% at 79,897.34. The index climbed 245.32 points to hit a high of 80,170.09 in early trade but later lost momentum due to selling in index heavyweights. The barometer hit a day’s low of 79,464.38, down by 460.39 points from the last close.

The NSE Nifty edged down 8.50 points or 0.03% to settle at 24,315.95. The broader index gyrated between a high of 24,402.65 and a low of 24,193.75 in day trade.

“The main indices are trading in a narrow range, struggling to justify its premium valuation ahead of the Q1 earnings season, which is forecast to be subdued,” Vinod Nair, Head of Research, Geojit Financial Services said.

Among Sensex shares, Bajaj Finance, Mahindra & Mahindra, Sun Pharma, Nestle, NTPC, Power Grid, NTPC, UltraTech Cement and Larsen & Toubro were the biggest laggards.

The prominent gainers were ITC, Tata Motors, Asian Paints and Titan.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled higher. European markets were trading in positive territory. U.S. markets ended significantly higher on Wednesday.

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

Global oil benchmark Brent crude climbed 0.21% to $85.26 a barrel.

The BSE benchmark closed lower by 426.87 points or 0.53% at 79,924.77 on Wednesday. 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 Wednesday.