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.

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

In a significant milestone for the Indian stock market, the BSE’s Sensex surpassed the 80,000 mark during intra-day trades on Wednesday, July 3. The milestone comes after the index gained the last 10,000 points in nearly seven months or 139 trading sessions, after it first reached the 70,000 points mark on December 11, 2023. This is also the fastest 10,000 rally for the BSE Sensex.

The broader Nifty 50 index also experienced a significant rise, adding 162.65 points or 0.67 per cent to close at an all-time high of 24,286.5.

The Sensex finally closed at 79,986.8 on Wednesday, up by  545.35 points or 0.69 per cent, following some correction from the peak of 80,074 during the session. The upward momentum continued on Thursday too with the index opening well above the 80,000 mark at around 80,300.

The surge in domestic indices was largely propelled by large-cap stocks, particularly in the financial sector. HDFC Bank shares saw a notable rise, driven by an expected increase in its weight in the MSCI Emerging Markets Index following the MSCI’s August review.

Additionally, gains in Reliance Industries shares and other banking stocks contributed to the overall positive sentiment in the market.

The Sensex, which was launched in January 1986, has a history of reaching significant milestones. It crossed the 10,000 level during intraday deals on February 6, 2006, reached 20,000 on November 5, 2007, and achieved the 40,000 mark on July 5, 2019. The journey from 40,000 to 80,000 took just five years, highlighting the growth of the Indian stock market.

The recent rally can be attributed to several factors, including expectations of continuity in government policies, a higher economic growth forecast, and robust domestic fund buying. These elements have combined to create a bullish fervour among investors, pushing the indices to new heights.

Supportive global data and the progress of the monsoon in the country have boosted investor confidence, leading to the Sensex opening more than 300 points higher on Thursday.

As the market continues to respond to these positive signals, investors are closely watching for further developments that could sustain this upward momentum.

Amid the ongoing surge in Indian equity markets, financial experts are advising mutual fund investors to exercise caution and avoid making substantial investments in the riskier segments of the market.

Bengaluru:

The shares rose to record highs at the open on Wednesday, led by the country’s top private lender HDFC Bank, which jumped to a record high on hopes of a likely increase in its weightage in a key global index.

The NSE Nifty 50 was up 0.7% at 24,291.75 points, while the S&P BSE Sensex added 0.72% to 80,013.77 points, as of 9:15 a.m. IST.

This is the first time that the 30-stock Sensex has crossed the 80,000 mark.

HDFC Bank rose 3.5% at the open, leading Nifty 50 gains.

“After the solid bull run in markets, now HDFC Bank is set to give another boost,” said Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research.

Foreign institutional investors’ shareholding in HDFC Bank in the June quarter dropped below 55%, data released post market hours on Tuesday showed, raising the possibility of a likely increase in weightage in global index provider Morgan Stanley’s MSCI indexes.

“A weight increase could bring in $3.2 billion-$4 billion inflows over six days,” Nuvama’s Pagaria said.

Inflows into HDFC Bank could further boost the benchmarks as it is the heaviest weighted stock in the Nifty and Sensex, according to analysts.

All 13 major sectors logged gains. The rise in HDFC Bank powered banks, financials and private banks 1.3%-1.5% higher.

All the 30 Sensex companies were trading in the green. Power Grid, NTPC, State Bank of India, Larsen & Toubro, Mahindra & Mahindra, IndusInd Bank and Axis Bank were the biggest gainers from the Sensex pack.
| Photo Credit: Reuters

Investors’ wealth jumped ₹12.48 lakh crore in morning trade on June 3 as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls.

The 30-share BSE Sensex jumped 2,777.58 points or 3.75% to hit a record peak of 76,738.89 in early trade.

Also read | GDP growth surges to 8.2% on manufacturing gains

Following the huge rally in equities, the market capitalisation of BSE-listed companies climbed ₹12,48,952.68 crore to hit an all-time peak of ₹4,24,61,833.82 crore ($5.10 trillion) during the morning trade.

Exit polls on June 1 predicted that Prime Minister Narendra Modi will retain power for a third straight term, with the BJP-led NDA expected to win a big majority in the Lok Sabha polls. The counting of votes will take place on June 4.

“The exit poll numbers are very strong for the incumbent government,” Narendra Solanki, Head Fundamental Research – Investment Services, Anand Rathi Shares and Stock Brokers, said.

“Overall it’s positive for the markets in short as well as long term. Also, the recent released good GDP growth data should provide support to existing positive momentum,” he added.

India’s economy grew by 8.2% in the fiscal year that ended in March, cementing the country’s position as the fastest-growing major economy in the world.

“The GDP numbers which came on Friday were better-than-expected with 8.2% growth. This will provide fundamental support to the market,” said V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Also read | How do markets look at election results?

All the 30 Sensex companies were trading in the green. Power Grid, NTPC, State Bank of India, Larsen & Toubro, Mahindra & Mahindra, IndusInd Bank and Axis Bank were the biggest gainers from the Sensex pack.

In Asian markets, Seoul, Tokyo and Hong Kong were quoting with gains while Shanghai traded lower. The U.S. markets ended mostly higher on May 31. Foreign Institutional Investors (FIIs) bought equities worth ₹1,613.24 crore on Friday, according to exchange data.

The 30-share BSE Sensex climbed 269.28 points to an all-time peak of 75,679.67 in early trade on May 27, 2024. File
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty hit their new all-time peaks in early trade on May 27 in tandem with a rally in global markets and optimistic investors’ sentiment days ahead of the results of the Lok Sabha polls announcement.

The 30-share BSE Sensex climbed 269.28 points to an all-time peak of 75,679.67 in early trade. The NSE Nifty went up by 86.1 points to hit a new lifetime high of 23,043.20.

From the Sensex firms, Tata Steel, Bharti Airtel, JSW Steel, Kotak Mahindra Bank, Sun Pharma, Axis Bank and HDFC Bank were among the major gainers.

Wipro, Mahindra & Mahindra, Maruti and Asian Paints were among the laggards.

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

Wall Street ended with gains on Friday.

The results of the ongoing general elections will be declared on June 4.

Global oil benchmark Brent crude climbed 0.21% to $82.29 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹944.83 crore on Friday, according to exchange data.

The BSE benchmark dipped 7.65 points or 0.01% to settle at 75,410.39 on Friday. The Nifty breached the 23,000 mark for the first time on Friday. It, however, pared all the gains and ended with a marginal decline of 10.55 points or 0.05% at 22,957.10.

The S&P BSE Sensex shed 0.62% to 72,943.68, extending losses to a third straight session. File
| Photo Credit: PTI

India’s currency, debt and equity markets will be closed on Wednesday, April 17, for Ram Navami. Trading will resume on Thursday, April 18.

The blue-chip NSE Nifty 50 fell 0.56% to 22,147.90 while the S&P BSE Sensex shed 0.62% to 72,943.68, extending losses to a third straight session as receding bets of early U.S. rate cuts and worries over the conflict in the Middle East weighed.

The Indian rupee weakened 0.10% versus the U.S. dollar to a record closing low of 83.5350, weighed down by a selloff in risky assets.

The benchmark 10-year bond was quoted at 99.95 rupees, with the yield up 1 bps at 7.1860%, amid heightened tensions in the Middle East and worries over the U.S. interest rate outlook.

The BSE Sensex reached its all-time high of 74,254.62 and the NSE Nifty hit the lifetime peak of 22,529.95 on April 1, 2024.

Benchmark equity indices started the new fiscal on a bullish note on April 1, with the Sensex and Nifty reaching all-time high levels, amid firm trends from Asian markets and foreign fund inflows.

Extending its winning momentum to the third day running, the 30-share BSE Sensex jumped 556.98 points to 74,208.33 in early trade. The NSE Nifty climbed 192.1 points to 22,519.

Later, the BSE Sensex reached its all-time high of 74,254.62 and the NSE Nifty hit the lifetime peak of 22,529.95.

From the Sensex basket, JSW Steel, Tata Steel, Kotak Mahindra Bank, HDFC Bank, Tata Motors, and Larsen & Toubro were the major gainers.

In Asian markets, Seoul and Shanghai were quoting in the green while Tokyo traded lower.

Wall Street ended on a mixed note on March 28.

Foreign Institutional Investors (FIIs) bought equities worth ₹188.31 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude climbed 0.37% to $87.32 a barrel.

“The undertone of the market is bullish and there is momentum in the market,” Geojit Financial Services Chief Investment Strategist V.K. Vijayakumar said.

Equity markets were closed on Friday for Good Friday.

The BSE benchmark jumped 655.04 points, or 0.90%, to settle at 73,651.35 on Thursday. The NSE Nifty climbed 203.25 points, or 0.92%, to end at 22,326.90.

In the 2023-24 financial year, the BSE benchmark jumped 14,659.83 points or 24.85%, while the Nifty soared 4,967.15 points or 28.61%.

The 30-share BSE Sensex climbed 177.73 points to 73,983.88 in early trade on March 4, 2024. 
| Photo Credit: ANI

Equity benchmark indices climbed in early trade on March 4, with the Nifty hitting its fresh all-time high level, amid a rally in global markets.

Optimistic investors’ sentiment after impressive GDP data has propelled rally in the equity markets.

The 30-share BSE Sensex climbed 177.73 points to 73,983.88 in early trade. The Nifty hit its all-time high level of 22,440.90.

Among the Sensex firms, NTPC, Power Grid, Bharti Airtel, IndusInd Bank and Maruti were the biggest gainers.

JSW Steel, Tata Steel, Titan and Mahindra & Mahindra were among the laggards.

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

The US markets ended with gains on Friday.

In a special trading session on Saturday, the BSE benchmark Sensex climbed 60.80 points or 0.08% to reach its all-time closing high of 73,806.15. The Nifty went up by 39.65 points or 0.18% to settle at a new closing high of 22,378.40.

Leading stock exchanges BSE and NSE conducted a special trading session in the equity and equity derivative segments on Saturday to check their preparedness to handle major disruption or failure at the primary site.

Global oil benchmark Brent crude climbed 0.11% to $83.64 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹81.87 crore on Saturday, according to exchange data.

The 30-share Sensex on February 19, 2024, rose 23.96 points or 0.03% to 72,450.60 points, with 16 constituents trading in the green.
| Photo Credit: Reuters

Sensex and Nifty gained marginally in early trade on February 19 as investors seemed to be looking for firm cues amid mixed trends in the Asian markets.

The 30-share Sensex rose 23.96 points or 0.03% to 72,450.60 points, with 16 constituents trading in the green. Bharti Airtel and Bajaj Finance climbed over 1%.

The broader Nifty inched up 32.35 points or 0.15% to 22,073.05 points and 26 scrips in the index were in the positive territory.

Deepak Jasani, Head of Retail Research at HDFC Securities, said Asian shares got off to a slow start on Monday as fading chances for early rate cuts globally soured the mood, though investors are hoping China markets return from holiday with a spring in their step.

U.S. market will be closed on Monday on account of President’s Holiday. On Friday, U.S. stocks closed in the red, with all three major indices logging weekly losses, as investors assessed inflation readings and company earnings.

The key domestic equity indices have made gains in the last four trading sessions, with Sensex rising 376.26 points to close at 72,426.64 points on Friday while Nifty climbed 129.95 points to end the day at 22,040.70 points.

On Friday, Foreign Portfolio Investors (FPIs) were net buyers as they purchased securities worth ₹253.28 crore, according to exchange data.

Mr. Jasani also said that the U.S. stock market appears resilient in the face of hotter-than-anticipated inflation readings.

“Fourth-quarter earnings have come in a lot better than expected. Although U.S. inflation in January, as measured by the consumer-price index and producer-price index, was stronger than Wall Street expected, the trend is lower,” he added.