Image used for representational purposes only. File
| Photo Credit: PTI

Image used for representational purposes only.
| Photo Credit: Getty Images/istockphoto

A vendor walks past by a poster of bear and bull in south Mumbai. File

Stock markets rallied more than 1% on Wednesday (November 6, 2024) with benchmark Sensex soaring 901 points on heavy buying in IT and pharma shares as Donald Trump wins the U.S. presidential elections.

Extending its gains to the second day, the BSE Sensex jumped 901.50 points or 1.13% to settle at 80,378.13. During the day, it soared 1,093.1 points or 1.37% to 80,569.73.

The NSE Nifty soared 270.75 points or 1.12% to close at 24,484.05.

From the 30-share Sensex pack, Tata Consultancy Services and Infosys jumped over 4% each. HCL Technologies, Tech Mahindra, Adani Ports, Larsen & Toubro, Maruti and Reliance Industries were also among big gainers.

Titan, IndusInd Bank, Hindustan Unilever, Axis Bank and HDFC Bank were the laggards.

“Global markets experienced a relief rally following the U.S. election results, reducing political uncertainty with Trump securing a strong mandate. This has led to strong risk-on sentiments, driven by expectations of tax cuts and increased government spending,” Vinod Nair, head of research at Geojit Financial Services said.

The domestic buying was broad-based, with IT leading the charge in anticipation of a rebound in IT spending in the U.S.

“BFSI spending in the U.S. has improved as per the IT Q2 result which is positive for Indian players,” Mr. Nair added.

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

European markets were quoting in the green. Wall Street ended sharply higher on Tuesday (Nov. 5).

Global oil benchmark Brent crude declined 2% to $74.02 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,569.41 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought ₹3,030.96 crore worth of shares, according to exchange data.

Bouncing back from Monday’s (Nov. 4’s) sharp fall, the BSE benchmark jumped 694.39 points or 0.88% to settle at 79,476.63 on Tuesday (Nov. 5). The Nifty climbed 217.95 points or 0.91% to 24,213.30.

Market benchmark indices Sensex and Nifty declined in early trade on Wednesday (October 16, 2024) amid unabated foreign fund outflows and tracking a weak trend in global markets. File
| Photo Credit: Reuters

Market benchmark indices Sensex and Nifty declined in early trade on Wednesday (October 16, 2024) amid unabated foreign fund outflows and tracking a weak trend in global markets.

The BSE Sensex went down by 240.75 points to 81,579.37 in early trade. The NSE Nifty declined 62.7 points to 24,994.65.

From the 30 Sensex firms, Mahindra & Mahindra, Nestle, UltraTech Cement, Tata Consultancy Services, Kotak Mahindra Bank and IndusInd Bank were the major laggards.

HDFC Bank, Bajaj Finserv, Asian Paints and Sun Pharma were among the gainers.

“Market sentiment remained cautious with foreign investors selling ₹63,900 crore in October,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,748.71 crore on Tuesday (October 15, 2024), according to exchange data.

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

The U.S. markets ended lower on Tuesday (October 15,2024).

Global oil benchmark Brent crude climbed 0.23% to $74.42 a barrel.

On Tuesday (October 15, 2024), the BSE benchmark declined 152.93 points or 0.19% to settle at 81,820.12. The Nifty settled lower by 70.60 points or 0.28% to 25,057.35.

Sydney/Seoul:

Hyundai India will start taking orders for its $3.3 billion initial public offering in Mumbai on Monday, the company said in regulatory filings, a deal that will be the country’s largest ever share offering and world’s second biggest IPO in 2024.

The IPO shows that India’s red hot capital markets show no sign of cooling, with 260 companies having raised more than $9 billion so far in 2024, according to LSEG data. The year-to-date volume has already surpassed the $7.42 billion total raised last year.

Hyundai will not issue new shares in the IPO, in which its South Korean parent will sell up to 17.5% of its stake in the wholly-owned unit that will be valued at up to $19 billion.

At that size, Hyundai India will make up about 40% of its parent company Hyundai Motor’s market capitalisation.

There will be 142,194,700 shares on offer in a price band of 1,865 to 1,960 rupees, according to the filings, and the deal will be the first time Hyundai is listed outside of its South Korean home market.

Institutions can bid for the stock from Monday while retail and other investors can place orders on Tuesday and Wednesday. The stock will begin trading in Mumbai on Oct. 22, the regulatory filings show.

Analysts said Hyundai Motor is likely to expand its production in India, potentially including hybrids and electric vehicles. This would help the South Korean automaker strengthen its position in the Indian market as the country focuses on environmentally friendly vehicles.

“With the funds raised by the IPO, Hyundai Motor would secure a sizable investment capacity to close the market share gap with India’s No.1 player Maruti Suzuki as the South Korea automaker would likely invest to expand its production in India,” said Shin Yoon-chul, an analyst at Kiwoom Securities. He added that the IPO seemed timely as the auto sector has been leading the Indian stock market in terms of performance.

Hyundai India’s IPO will be the largest ever in India if successful, eclipsing the previous record of Life Insurance Corporation of India’s 2022 deal when it raised $2.5 billion.

It will be the second largest IPO globally this year in terms of money raised, following Lineage Inc’s $5.1 billion U.S. IPO in July.

Hyundai is India’s second-largest automaker after Maruti and is looking to take market share from domestic rivals by expanding its SUV lineup.

It also plans to launch its first India-made electric vehicle early next year and introduce at least two gasoline-powered models tailored to the market starting in 2026.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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

Benchmark Sensex closed above the 85,000 level for the first time while Nifty settled at a fresh lifetime high on Wednesday (September 25, 2024) as fag-end buying in banking and power shares helped stock markets recoup early losses.

After a see-saw trade during the day, the 30-share BSE Sensex rose by 255.83 points or 0.30% to settle at an all-time high of 85,169.87. During the day, it surged 333.38 points or 0.39% to hit a record intra-day peak of 85,247.42.

The NSE Nifty climbed 63.75 points or 0.25% to close at a record high of 26,004.15. During the day, it went up by 92.4 points or 0.35% to reach a new intra-day peak of 26,032.80.

From the 30 Sensex firms, Power Grid, Axis Bank, NTPC, Bajaj Finserv, Bajaj Finance, Tata Steel, Mahindra & Mahindra and HDFC Bank were the biggest gainers.

Tech Mahindra, Tata Motors, Titan, Kotak Mahindra Bank, State Bank of India and JSW Steel were the biggest laggards.

“After a range-bound trade, the benchmark indices inched higher towards close, led by power and banking stocks, while mid- and small-cap indices experienced corrections driven by valuation concerns,” Vinod Nair, head of research, Geojit Financial Services said.

The domestic market may face short-term challenges owing to a decline in FIIs inflow and shift of funds to other emerging markets due to their cheap valuation, he added.

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

European markets were trading mostly lower. The U.S. markets ended higher on Tuesday (Sept. 24).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,784.14 crore on Tuesday (Sept. 24), according to exchange data.

Global oil benchmark Brent crude dipped 0.35% to $74.91 a barrel.

After oscillating between highs and lows during the day on Tuesday (Sept. 24), the BSE benchmark dipped 14.57 points or 0.02% to settle at 84,914.04. During the day, it jumped 234.62 points or 0.27% to scale a fresh all-time intra-day peak of 85,163.23.

The Nifty eked out a marginal gain of 1.35 points or 0.01% to 25,940.40. During the day, it climbed 72.5 points or 0.27% to hit a new record intra-day high of 26,011.55.

Benchmark equity indices Sensex and Nifty ended on a flat note in a lacklustre trade on Monday (August 19, 2024), as investors preferred to remain on the sidelines awaiting further triggers.

Participants also booked profits in select blue-chip stocks amid high valuation concerns, according to experts.

In a range-bound trade, the 30-share BSE Sensex slipped 12.16 points or 0.02% to settle at 80,424.68. During the day, it hit a high of 80,724.40 and a low of 80,332.65.

The NSE Nifty edged up 31.50 points or 0.13% to 24,572.65 in a volatile trade.

Among the 30 Sensex firms, Mahindra & Mahindra, IndusInd Bank, Bharti Airtel, Axis Bank, Tata Motors and ICICI Bank were the biggest laggards.

In contrast, Tata Steel, Tata Consultancy Services, NTPC, JSW Steel, Asian Paints and Reliance Industries were gainers.

“The Indian market failed to catch up with the initial gains as there is a degree of profit booking witnessed in auto stocks due to a slowdown in demand,” said Vinod Nair, head of research, Geojit Financial Services.

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

European markets were trading mostly higher. The U.S. markets ended in positive territory on Friday.

“Markets began the week on a muted note and ended nearly flat, taking a breather after Friday’s surge. Following an initial uptick, the Nifty traded within a narrow range,” Ajit Mishra, SVP, research, Religare Broking Ltd., said.

Foreign Institutional Investors (FIIs) turned buyers on Friday (August 16, 2024) as they bought equities worth ₹766.52 crore, according to exchange data.

Domestic Institutional Investors (DIIs) bought equities worth ₹2,606.18 crore on Friday(August 16, 2024).

Global oil benchmark Brent crude dipped 0.82% to $79.03 a barrel.

The BSE benchmark jumped 1,330.96 points or 1.68% to settle at 80,436.84 on Friday (August 16, 2024), marking its best single-day gains in more than two months. The NSE Nifty surged 397.40 points or 1.65% to settle at a two-week high of 24,541.15.

Benchmark Sensex breaching the 81,000 mark for the first time on July 18, 2024. File
| Photo Credit: PTI

Stock markets remained on record-smashing course for the fourth straight day on July 18 with benchmark Sensex breaching the 81,000 mark for the first time and Nifty scaling the record 24,800 level driven by buying in IT, oil&gas and FMCG shares.

Rebounding from its early lows, the 30-share BSE Sensex rose by 626.91 points or 0.78% to settle at a fresh closing high of 81,343.46. The index opened on a weak note and hit a low of 80,390.37 points in early trade.

However buying in IT shares TCS, Infosys and Tech Mahindra and index heavyweight Reliance Industries helped the index pare losses in the afternoon session. The barometer surged 806 points or 0.99% to hit a new record intra-day peak of 81,522.55.

The broader Nifty also pared early losses and climbed 187.85 points or 0.76% to settle at an all-time closing high of 24,800.85. During the day, it zoomed 224.75 points or 0.91% to hit a fresh lifetime high of 24,837.75.

“The frontline indices firmed up in the second half, reaching fresh highs driven by renewed buying in IT stocks. Investor optimism for the sector grew after strong performance reports from the country’s leading IT firms in the June quarter, coupled with a weakening rupee,” Vinod Nair, Head of Research, Geojit Financial Services, said.

Softening U.S. bond yields on growing hopes of a U.S. Fed rate cut by September also boosted FII flows into Indian equities, analysts said.

Among Sensex shares, Tata Consultancy Services rose the most by 3.33%.

Infosys gained 1.93% ahead of the financial results for the June quarter. The IT major after market hours reported a 7% rise in consolidated net profit to ₹6,368 crore for the April-June period and also raised its growth outlook for the current fiscal.

Bajaj Finserv, Infosys, Mahindra & Mahindra, Tech Mahindra, Hindustan Unilever, State Bank of India and HCL Technologies were the biggest gainers.

On the contrary, Asian Paints, JSW Steel, NTPC and Adani Ports were among the laggards.

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

The U.S. markets ended mostly lower on Wednesday.

Global oil benchmark Brent crude dipped 0.14% to $84.96 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,271.45 crore on Tuesday, according to exchange data. Stock markets were closed on Wednesday on account of Muharram.

Benchmark Sensex and Nifty have been on a record-breaking run since Friday. The indices have traded at lifetime high levels in the four straight sessions. Nifty advanced nearly 485 points or 1.98% while Sensex rose by 1446 points or 1.79% since Friday.

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