Equity benchmark indices declined in early trade on October 26. Mahindra & Mahindra, Bajaj Finserv, Bajaj Finance, JSW Steel, Tata Motors, Nestle and Titan were the other major laggards.
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Equity benchmark indices declined in early trade on October 26, continuing their weak momentum, amid negative trend in global markets and fresh foreign fund outflows.

The 30-share BSE Sensex plunged 502.5 points to 63,546.56. The Nifty fell 159.55 points to 18,962.60.

Among the Sensex firms, Tech Mahindra traded nearly 3% lower after the company posted 61% decline in consolidated net profit to ₹505.3 crore for July-September period mainly on account of reduced spending by clients.

Mahindra & Mahindra, Bajaj Finserv, Bajaj Finance, JSW Steel, Tata Motors, Nestle and Titan were the other major laggards.

Axis Bank emerged as the only gainer after the firm reported a 10% increase in September 2023 quarter net profit to ₹5,864 crore on higher interest income.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were quoting lower. The U.S. markets ended in the negative territory on October 25.

“There is risk-off in global equity markets triggered by a combination of economics and geopolitics. The Israel-Hamas conflict continues to be a major headwind for markets. If the conflict lingers for long it has the potential to impact global growth,too, when the global economy is already in the midst of a slowdown.”

“In the near-term, however, the strongest headwind for the market is the stubbornly high U.S. bond yields. With the 10-year bond yield at near 5% FPIs are likely to be in the sell mode,” said V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global oil benchmark Brent crude declined 0.29% to $89.87 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,236.60 crore on Wednesday, according to exchange data.

The BSE benchmark tanked 522.82 points or 0.81% to settle at 64,049.06 on October 25. The Nifty fell 159.60 points or 0.83% to 19,122.15.

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Equity benchmark indices Sensex and Nifty declined for the second straight session on October 13, following selling in banking, financial and select IT shares amid a weak trend in global markets.

The 30-share BSE Sensex dropped by 125.65 points or 0.19% to close at 66,282.74 as 16 of its constituents fell and 14 advanced. The index opened lower and fell further by around 513 points to the day’s low of 65,895.41 in morning deals.

However, a rebound in auto shares helped Sensex trim losses and touch a high of 66,478.90 in the pre-close session before settling lower.

The broader Nifty of NSE fell by 42.95 points or 0.22% to close at 19,751.05, with 27 of its components ending in the red and 23 in the green.

“Weak revenue guidance of the IT sector and the current uptick in crude prices weighed on the sentiment. While higher-than-expected U.S. inflation data pulled down the week’s early uptrend, which was positive on a remark of a less hawkish U.S. Fed meeting.

“However, some optimism was visible from domestic factors such as a steep decline in domestic inflation and impressive industrial production data, along with bright earnings expectations for Q2,” Vinod Nair, Head of Research at Geojit Financial Services, said.

In the broader market, BSE Midcap declined by 17.11 points or 0.05% to 32,305.62 and SmallCap by 13.67 points or 0.04% to 38,184.83.

Key Asian indices declined following losses in the U.S. markets due to a rebound in U.S. bond market yields. The Hang Seng in Hong Kong dropped 2.2% and the Shanghai Composite index fell 0.6% after weak Chinese trade data. Japan’s Nikkei 225 declined 0.6%. Stock markets in France, Germany and the U.K. also traded lower.

“Rising U.S. 10-year bond yield as well as a fall in Asian markets impacted domestic equities,” analysts said. Foreign Institutional Investors (FIIs) were net sellers on Thursday as they sold shares worth ₹1,862.57 crore, according to data available with BSE.

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Benchmark equity indices Sensex and Nifty erased early gains to trade lower on October 12 as IT shares declined after TCS stated that headwinds continue for the sector amid a sluggish economic climate.

The 30-share Sensex opened higher and rose further by 104 points to hit a high of 66,577.60 as banking, auto and metal shares advanced in line with positive global markets.

However, the gains were offset by losses in IT shares, dragging to the 30-share index down by 84.16 points or 0.13% to 66,388.89 at 9.50 a.m.

The broader Nifty also retreated from early highs to trade 23.70 points or 0.12% down at 19,787.65. It moved between a high of 19,843.30 and a low of 19,784.55 in morning trade.

Rate-sensitive stocks gained after the U.S. Federal Reserve’s meeting minutes released on October 11 suggested that the U.S. central bank would not raise interest rates in the near future amid uncertain economic conditions.

Among Sensex shares, IndusInd Bank, Axis Bank, SBI, Tata Motors, JSW Steel, ICICI Bank, Maruti, Tata Steel, and M&M advanced in early trade. However, the gains were negated by more than 1% fall in IT major TCS which emerged as leading Sensex loser.

The company has stated that the headwinds for the IT sector continue amid a sluggish economic climate. The country’s largest software exporter TCS on Wednesday reported an 8.7% increase in its September quarter net profit to ₹11,342 crore.

The Tata Group company also announced a ₹17,000-crore share buyback on top of committing a nearly ₹3,300-crore dividend payout.

Other IT stocks such as Tech Mahindra, Infosys and Wipro also declined. Losses in Reliance, HUL, L&T and Bharti Airtel also weighed on the benchmark index.

V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, “There are positive developments that can strengthen the rally in the market.”

“Steadily declining trend in the dollar index and the U.S. bond yields, declining crude and sharp dip in FII selling in the cash market are big positives for the market. If the U.S. CPI inflation data expected tonight dips below 3.6% that will be a shot in the arm for the bulls.” Asian markets, including Japan, China and Hong Kong, were trading with gains following advances in the U.S. markets overnight.

The Hang Seng in Hong Kong advanced 1.75%, Nikkei 225 in Japan gained 1.48% while South Korea’s Kospi was up 0.93%.

On the domestic front, Sensex had spurted by 393.69 points or 0.6% to close at 66,473.05 while Nifty climbed 121.50 points or 0.62% to settle at 19,811.35 on Wednesday.

Foreign Institutional Investors (FIIs) continued to be net sellers as they offloaded shares worth ₹421.77 crore on Wednesday, according to data available with the Bombay Stock Exchange.

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Equity benchmark indices rebounded in early trade on September 22 after a three-day decline but later gave up initial gains to quote in the negative territory.

The 30-share BSE Sensex climbed 187.71 points to 66,417.95 in early trade. The Nifty advanced 49.8 points to 19,792.15.

But, later both the benchmark indices pared early gains and were trading lower. The Sensex quoted 123.33 points lower at 66,106.91 and the Nifty traded 71.25 points down at 19,671.10.

Among the Sensex firms, State Bank of India, Bajaj Finserv, IndusInd Bank, Maruti and Mahindra & Mahindra were the major gainers. Wipro, Power Grid, Titan and Tata Steel were among the laggards.

In Asian markets, Seoul and Tokyo were trading in the negative territory while Shanghai and Hong Kong quoted in the green. The U.S. markets ended in the negative territory on September 21.

“FIIs have reversed their ‘Buy India strategy’ which they have been following in the last three months with selling to the tune of ₹16,934 crore in September,” said V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

“Countering this negative trend is the hugely positive news of JP Morgan including India in the emerging market bond index with a weightage of 10% from June 2024 onwards,” Vijayakumar said.

“This will reduce bond yields and the consequent decline in the cost of borrowing will boost the bottom line of companies,” he added. Global oil benchmark Brent crude climbed 0.53% to $93.79 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,007.36 crore on Thursday, according to exchange data.

“India’s inclusion in JP Morgan emerging markets bond index is great news which would give a booster access to global investors to participate in the world’s fastest-growing large economy,” Rakeshh Mehta, Chairman, Mehta Equities Limited said.

The BSE benchmark fell 570.60 points or 0.85% to settle at 66,230.24 on Thursday. The Nifty declined 159.05 points or 0.80% to end at 19,742.35.

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Equity benchmark indices declined in early trade on September 21, falling for the third day running, due to a weak trend in global markets and foreign fund outflows.

Global equities fell after the U.S. Federal Reserve signalled that they expect to raise rates once more this year to fight inflation.

The 30-share BSE Sensex fell 333.64 points to 66,467.20. The Nifty declined 99.8 points to 19,801.60.

Among the Sensex firms, HCL Technologies, ICICI Bank, Tata Consultancy Services, Larsen & Toubro, UltraTech Cement, Nestle, HDFC Bank and ITC were the major laggards. State Bank of India, Tata Steel, Axis Bank and NTPC were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the negative territory. The U.S. markets ended in the red on Wednesday.

The Federal Reserve left its key interest rate unchanged on Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. But Fed officials also signalled that they expect to raise rates once more this year.

“Even though the ‘hawkish pause’ from the Fed was on expected lines, the U.S. markets reacted negatively since the indication from the Fed is that rates will remain ‘higher for longer’.

“For Nifty the biggest drag will be more FII selling in response to the rising dollar and U.S. bond yields,” said V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global oil benchmark Brent crude declined 0.71% to $92.87 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,110.69 crore on Wednesday, according to exchange data.

“A rough start to the trading session is on the cards as overnight weakness in the U.S. markets has triggered a slump in other Asian counterparts after the U.S. Federal Reserve hinted at one more rate hike by the end of this year even as it kept rates unchanged in its FOMC (Federal Open Market Committee) meeting yesterday.

“Another negative catalyst has been the frenzied selling by foreign institutional investors as they sold shares worth ₹3,110.69 crore in the domestic equity markets on Wednesday, which could further dampen the sentiment,” Prashanth Tapse, Senior VP (Research), Mehta Equities Limited, said in his pre-opening market comment.

The BSE benchmark had tumbled 796 points or 1.18% to settle at 66,800.84 on Wednesday. The NSE Nifty declined 231.90 points or 1.15% to end below the 20,000 mark at 19,901.40.

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Equity benchmark indices Sensex gained more than 140 points and Nifty rose 57 points in early trade on September 1 as investors seemed to be relatively cautious amid mixed global cues.

Economic growth of 7.8% in the three months ended June, the highest in the past four quarters, helped investor sentiments.

The 30-share Sensex climbed 142.02 points or 0.22% to 64,973.43 points while the broader Nifty went up 57.60 points or 0.3% to 19,311.40 points. Majority of the stocks in both Sensex and Nifty were in the positive territory. In the Sensex pack, Tata Steel gained more than 3%.

Most of the Asian markets were in the green on Friday while European and U.S. shares had closed in the red on August 31. On Thursday, Sensex declined 255.84 points to close at 64,831.41 points while Nifty dropped 93.65 points to settle at 19,253.80 points.

Deepak Jasani, Head of Retail Research at HDFC Securities, said U.S. stocks finished mostly lower on Thursday to end August on a sour note after the Federal Reserve’s preferred inflation gauge proved largely in line with expectations for July, leaving investors looking ahead to Friday’s August jobs report.

“Stocks in Asia broadly advanced as China rolled out more stimulus to aid its ailing economy,” he added.

Official data released on Thursday showed that the Indian economy grew 7.8% in the June quarter, mainly on the back of double-digit expansion in the services sector, and retained its position as the world’s fastest-growing major economy. Crude futures were marginally higher at $87.02 per barrel.

On Thursday, Foreign Institutional Investors (FIIs) were net sellers of domestic equities as they offloaded shares worth ₹2,973.10 crore, as per exchange data.

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Equity benchmark indices began the trade on an optimistic note on August 22, extending their previous day’s rally amid a firm trend in global markets.

The 30-share BSE Sensex climbed 92.83 points to 65,308.92 in early trade. The NSE Nifty gained 35.5 points to 19,429.10.

From the Sensex pack, NTPC, Mahindra & Mahindra, ITC, Tata Motors, Axis Bank, Bajaj Finserv, JSW Steel and Larsen & Toubro were the major gainers. Jio Financial Services, Tata Consultancy Services, Infosys and Titan were the laggards.

Shares of Jio Financial Services, the demerged financial services unit of Reliance Industries, listed on the bourses on Monday.

With the company’s listing, the BSE Sensex and the NSE Nifty added Jio Financial Services to their pack. This has been done to ensure price stability and limit volatility in shares of RIL in view of the demerger as part of the revised methodology of the exchanges to treat demergers.

The newly listed entity would be removed from the indices after the end of the day on the third day of its listing. In Asian markets, Seoul, Tokyo and Hong Kong were quoting in the green while Shanghai traded lower. The U.S. markets ended mostly in the positive territory on Monday.

“There are two dominant factors influencing equity markets now. One, the resilient U.S. economy is supporting global growth and global equity markets; this is a positive. Two, the sharp spike in U.S. bond yields (the 10-year yield at 4.34% is the highest since 2007) is impacting capital flows to emerging markets like India; this is a negative for Indian markets.

“Sustained rise in FII inflows will happen only if the U.S. bond yields decline. Clarity on this will emerge only after trends in U.S. inflation and Fed’s monetary stance indicate softening,” said V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Global oil benchmark Brent crude declined 0.14% to $84.34 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,901.10 crore on Monday, according to exchange data. The BSE benchmark had climbed 267.43 points or 0.41% to settle at 65,216.09 on Monday. The Nifty gained 83.45 points or 0.43% to end at 19,393.60.

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Equity benchmark indices rebounded in early trade on August 4 after three days of fall amid buying in IT counters and mixed global market trends.

Bouncing back from a three-day decline, the 30-share BSE Sensex climbed 300.1 points to 65,540.78 in early trade. The NSE Nifty advanced 105.9 points to 19,487.55.

From the Sensex pack, Tech Mahindra, Wipro, HCL Technologies, Tata Consultancy Services, Infosys, JSW Steel, Titan and ITC were among the biggest gainers.

Power Grid, Hindustan Unilever, Tata Motors and ICICI Bank were among the laggards. In Asian markets, Shanghai and Hong Kong were trading in the positive territory while Seoul and Tokyo quoted lower. The U.S. markets ended marginally lower on August 3.

“India’s services sector growth touched a 13-year high in July as a substantial improvement in demand conditions and pick-up in international sales induced the strongest increase in new business and output,” a monthly survey said.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹317.46 crore on Thursday, according to exchange data. Global oil benchmark Brent crude climbed 0.12% to $85.24 a barrel.

The BSE benchmark fell by 542.10 points or 0.82% to settle at 65,240.68 on Thursday. The Nifty declined 144.90 points or 0.74% to end at 19,381.65.