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Benchmark equity indices rebounded in early trade on Thursday (September 5, 2024) amid steady foreign fund inflows along with buying in frontline stocks Reliance Industries and HDFC Bank.

The 30-share BSE Sensex rebounded 264.85 points to 82,617.49 in early trade. The NSE Nifty climbed 76.75 points to 25,275.45.

Among the 30 Sensex firms, UltraTech Cement, Tata Steel, ITC, Titan, ICICI Bank, JSW Steel, Reliance Industries and HDFC Bank were the biggest gainers.

Nestle, Bharti Airtel, Bajaj Finserv, Bajaj Finance and Mahindra & Mahindra were among the laggards.

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

The U.S. markets ended on a mixed note on Wednesday.

Foreign Institutional Investors (FIIs) bought equities worth ₹975.46 crore on Wednesday, according to exchange data.

“FIIs turning net buyers of domestic equities in past few sessions has been lending a major support,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

India’s services sector activity growth touched a five-month high in August on stronger rise in new work orders, while payroll numbers rose solidly as companies remained upbeat regarding the economic outlook, a monthly survey said on Wednesday.

The BSE benchmark dropped 202.80 points or 0.25% to settle at 82,352.64 on Wednesday.

Snapping its 14-day rally, the Nifty declined 81.15 points or 0.32% to 25,198.70. The Nifty had surged nearly 1,141 points or 4.59% in 14 straight days.

Meanwhile, global oil benchmark Brent crude traded 0.19% higher at $72.84 a barrel.

People walk past the Bombay Stock Exchange (BSE) building, in Mumbai.
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Equity benchmark Nifty rose marginally to hit a fresh lifetime high of 25,052 and Sensex gained over 70 points on Wednesday (August 28, 2024), helped by buying in IT stocks amid a largely positive global market.

Recent foreign fund inflows and lower global crude oil prices also strengthened investor sentiments, traders said.

Rising for the tenth straight session, the NSE Nifty went up by 34.60 points or 0.14% to settle at a new closing high of 25,052.35. The benchmark surged 111.85 points or 0.44% to hit a fresh intra-day all-time peak of 25,129.60.

Extending its winning run to the seventh day in a row, the 30-share BSE Sensex climbed 73.80 points or 0.09% to settle at 81,785.56. During the day, it jumped 327.5 points or 0.40% to 82,039.26.

Among the 30 Sensex firms, Bharti Airtel, Infosys, IndusInd Bank, Sun Pharma, Tech Mahindra, Mahindra & Mahindra, Bajaj Finance and JSW Steel were the biggest gainers.

Asian Paints, Maruti, Nestle, Kotak Mahindra Bank, Axis Bank and UltraTech Cement were among the laggards.

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

European markets were trading in positive territory. The U.S. markets ended with marginal gains on Tuesday (August 27, 2024).

“The market has entered a consolidation phase with low volatility and this trend is likely to continue in the near-term. Falling bond yields in the U.S. have restrained FII selling and they have even turned marginal buyers. Going by previous trends, DIIs are likely to sell if FIIs continue to buy.

“This trend will keep the market within a range with a slight upward bias. This is a desirable and healthy trend, given the elevated valuations in the market,” V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,503.76 crore on Tuesday, according to exchange data.

Domestic Institutional Investors (DIIs) offloaded equities worth ₹604.08 crore.

Global oil benchmark Brent crude declined 0.82% to $78.90 a barrel.

After oscillating between highs and lows, the BSE benchmark eked out a marginal gain of 13.65 points or 0.02% to settle at 81,711.76 on Tuesday. The NSE Nifty ended almost flat, up 7.15 points or 0.03%, at 25,017.75— its ninth straight session of gains.

People walk past the Bombay Stock Exchange (BSE) building, in Mumbai.
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Equity benchmark indices Sensex and Nifty began the trade on a positive note on Friday (August 23, 2024) but later pared gains to quote lower amid a muted trend in global markets and selling in IT stocks.

Market analysts said investors are awaiting cues from the U.S. Federal Reserve Chair Jerome Powell’s comments at Jackson Hole Symposium.

The 30-share BSE Sensex opened 37.32 points or 0.05% higher at 81,090.51 points. The NSE Nifty gained 18.25 points to 24,829.75.

Later, both the benchmark indices pared their early gains and were trading in the negative territory. The BSE benchmark quoted 117.82 points or 0.15% lower at 80,935.37 and the Nifty traded at 24,776.95, down by 34.55 points.

From the Sensex pack, Infosys, Titan, Tata Steel, UltraTech Cement, ITC, Tata Consultancy Services, Tech Mahindra and Asian Paints were the laggards.

On the contrary, Tata Motors, Reliance Industries, Sun Pharmaceuticals, Mahindra & Mahindra, Bajaj Finserv and ICICI Bank were among the gainers.

“Globally the market’s focus on Friday will be on U.S. Federal Reserve Chair Jerome Powell’s comments at Jackson Hole on the economy and the possible rate cut trend. Powell is likely to sound dovish indicating a rate cut in September,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

In Asian markets, Tokyo, Shanghai were trading higher, while Hong Kong and Seoul were quoting in the red territory on Friday.

The U.S. markets were closed lower on Thursday (August 22, 2024).

Foreign Institutional Investors (FIIs) bought equities worth ₹1,371.79 crore on Thursday, according to exchange data.

Meanwhile, Domestic Institutional Investors (DIIs) again bought equities worth ₹2,971.80 crore on Thursday.

Global oil benchmark Brent crude rose 0.06% to $77.27 a barrel.

On Thursday, the 30-share BSE index rose 147.89 points to close at 81,053.19, registering gains for the third day in a row.

Extending gains to a sixth session in a row, the NSE Nifty went up by 41.30 points to end at a two-week high of 24,811.50.

A view of the BSE building in Mumbai.
| Photo Credit: The Hindu

Equity benchmark index Sensex ticked higher on Thursday (August 22, 2024) to settle at 81,000 level while Nifty closed above 24,800 following buying in commodity, telecom and consumer stocks amid a firm trend in global markets.

Rising for the third straight day, the 30-share BSE Sensex rose 147.89 points or 0.18% to close at 81,053.19, registering gains for the third day in a row. During the day, it climbed 331.15 points to hit an intra-day high of 81,236.45.

Extending gains to a sixth session in a row, the NSE Nifty went up by 41.30 points or 0.17% to end at 24,811.50.

Bharti Airtel was the biggest gainer in the Sensex pack, rising 1.63%, followed by Tata Steel, ICICI Bank, Titan, Asian Paints and Ultratech Cements.

On the other hand, M&M, NTPC, Tata Motors, TCS and PowerGrid were the major losers.

“The domestic market witnessed modest gains owing to the positive global sentiments. Particularly, the recent signs of weakness in the U.S. non-farm payroll data have strengthened the case for potential interest rate cuts in September,” Vinod Nair, Head of Research at Geojit Financial Services said.

In Asian markets, Tokyo, Seoul and Hong Kong closed with gains, while Shanghai ended in the negative territory on Thursday.

European markets were trading with significant gains in the mid-session deals.

The U.S. stock markets gained in overnight trade on Wednesday (August 21, 2024).

Foreign Institutional Investors (FIIs) again turned sellers on Wednesday as they offloaded equities worth ₹799.74 crore, according to exchange data.

Global oil benchmark Brent crude rose 0.21% to $76.21 a barrel.

On Wednesday, the 30-share index rose by 102.44 points to close at 80,905.30. The NSE Nifty went up by 71.35 points to end at 24,770.20.

A view of the BSE building in Mumbai.
| Photo Credit: The Hindu

Benchmark equity indices Sensex and Nifty climbed in early trade on Tuesday (August 20, 2024), which was in line with optimism in global markets and steady investments by retail investors.

The 30-share BSE Sensex climbed 338.21 points to 80,762.89 in early trade. The NSE Nifty rallied 87.65 points to 24,660.30.

Among the 30 Sensex firms, Tata Consultancy Services, IndusInd Bank, NTPC, Axis Bank, UltraTech Cement, Power Grid, Infosys and Bajaj Finserv were the major gainers.

Bharti Airtel, Tata Steel, JSW Steel and Tata Motors were among the laggards.

In Asian markets, Seoul and Tokyo traded higher while Shanghai and Hong Kong quoted lower.

The U.S. markets ended in positive territory on Monday.

“Much of the strength and rally at Dalal Street is in the backdrop of steady SIP flows by retail investors. Global factors will be keenly watched as local investors would be eyeing the July FOMC (Federal Open Market Committee) meeting minutes to be released on Wednesday,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,667.46 crore on Monday (August 19, 2024), according to exchange data. However, Domestic Institutional Investors (DIIs) bought equities worth ₹1,802.92 crore.

Global oil benchmark Brent crude dipped 0.79% to $77.05 a barrel.

In a range-bound trade, the BSE benchmark on Monday slipped 12.16 points or 0.02% to settle at 80,424.68. The NSE Nifty edged up 31.50 points or 0.13% to 24,572.65 in a volatile trade.

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.

Among the 30 Sensex firms, NTPC, Titan, Tata Steel, ITC, Reliance Industries, State Bank of India, Bajaj Finance and JSW Steel were the biggest gainers. File

Benchmark equity indices Sensex and Nifty climbed in early trade on Monday (August 19, 2024) amid buying in blue-chip stocks Reliance Industries and ITC along with encouraging participation from retail investors.

The 30-share BSE Sensex climbed 287.56 points to 80,724.40 in early trade. The NSE Nifty went up by 97.65 points to 24,638.80.

Among the 30 Sensex firms, NTPC, Titan, Tata Steel, ITC, Reliance Industries, State Bank of India, Bajaj Finance and JSW Steel were the biggest gainers.

Mahindra & Mahindra, Nestle, Tata Motors and Bharti Airtel were among the laggards.

In Asian markets, Shanghai and Hong Kong quoted higher while Seoul and Tokyo traded lower.

The U.S. markets ended in the positive territory on Friday (August 16, 2024).

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).

“The complete dominance of the DII and retail investors over the market is the single major factor driving this bull run even though there are fundamental factors supporting the rally,” said V.K. Vijayakumar, chief investment strategist, Geojit Financial Services.

Global oil benchmark Brent crude dipped 0.19% to $79.53 a barrel.

The BSE benchmark jumped 1,330.96 points or 1.68% to settle at 80,436.84 on Friday, 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.

A screen displays stock numbers outside the Bombay Stock Exchange (BSE) building, in Mumbai.
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Equity benchmark indices Sensex and Nifty surged in early trade on Friday (August 16, 2024) following a sharp rally in global markets along with buying in IT stocks and Reliance Industries.

The 30-share BSE Sensex jumped 805.96 points to 79,911.84 in early trade. The NSE Nifty surged 252.05 points to 24,395.80.

All the 30 Sensex firms were trading higher in early trade. Mahindra & Mahindra, Tata Motors, Tech Mahindra, Tata Consultancy Services, HCL Technologies, Reliance Industries, ICICI Bank, JSW Steel, Infosys and IndusInd Bank were the biggest gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading significantly higher.

The U.S. markets ended with sharp gains on Thursday (August 15, 2024).

“Globally stock markets have turned around smartly from the August 5th sell-off triggered by U.S. recession fears and the unwinding of the yen carry trade. Latest data on U.S. inflation and unemployment relief do not indicate an economy tipping into recession. On the other hand, the 2.9% annual inflation number and slightly softening labour markets set the stage for a Fed rate cut in September, which the market is pencilling in now,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,595.27 crore on Wednesday, while Domestic Institutional Investors (DIIs) were buyers as they bought equities worth ₹2,236.21 crore, according to exchange data.

Global oil benchmark Brent crude dipped 0.25% to $80.84 a barrel.

“Traders are likely to adopt a risk-on approach, driven by strong cues from Wall Street, the expectation of a rate cut by the Federal Reserve in September, and robust US retail sales figures, which have eased recession concerns,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

The Indian stock markets were closed on Thursday (August 15, 2024) on account of Independence Day.

The BSE benchmark climbed 149.85 points or 0.19% to settle at 79,105.88 on Wednesday (August 14, 2024). The NSE Nifty ended marginally up by 4.75 points or 0.02% at 24,143.75.

People walk past the Bombay Stock Exchange (BSE) building, in Mumbai.
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Equity benchmark indices Sensex and Nifty declined in early trade on Tuesday (August 13, 2024) dragged by blue-chip HDFC Bank and fresh foreign fund outflows.

Also mixed trends from global markets failed to give direction to the domestic equities.

The 30-share BSE Sensex declined 134.27 points to 79,514.65 in early trade. The NSE Nifty dipped 38.65 points to 24,308.35.

From the 30 Sensex firms, HDFC Bank, Tata Motors, Asian Paints, Bajaj Finance, Power Grid and Hindustan Unilever were the biggest laggards.

Bharti Airtel, Sun Pharma, Tata Consultancy Services and Axis Bank were among the gainers.

Nine of the ten Adani group firms bounced back during the early trade after declining sharply during intra-day on Monday (Aigust 12, 2024)

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

The U.S. markets ended on a mixed note on Monday.

Foreign Institutional Investors (FIIs) again turned sellers on Monday as they offloaded equities worth ₹4,680.51 crore after a day’s breather, according to exchange data.

Retail inflation declined to a five-year low of 3.54% in July mainly on account of subdued prices of food items, and base effect, according to official data released on Monday.

“Market’s dismissal of the Hindenburg report as inconsequential is significant. The market which has been climbing all walls of worries has climbed this Hindenburg wall too, instilling confidence in retail investors and DIIs flush with money,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

The dip in CPI inflation in July to 3.54% is positive, he added.

India’s industrial production slowed to a five-month low of 4.2% in June 2024, mainly due to poor performance of the manufacturing sector, though power and mining sectors continue to perform well, as per official data released on Monday.

Global oil benchmark Brent crude declined 0.90% to $81.56 a barrel.

The BSE benchmark ended lower by 56.99 points or 0.07% at 79,648.92 on Monday. The Nifty dipped 20.50 points or 0.08% to 24,347.

Stock markets crashed nearly 3% on August 5 due to across-the-board selling in banking, IT, metal and oil & gas shares following a global equity rout, wiping out more than ₹15 lakh crore of investor money in a single day.

The 30-share BSE Sensex plummeted 2,222.55 points or 2.74% to settle at over a month’s low of 78,759.40, marking its worst single-day retreat since June 4, 2024. During the day, the index tanked 2,686.09 points or 3.31% to 78,295.86.

The NSE Nifty slumped 662.10 points or 2.68% to settle at more than a month’s low of 24,055.60. During the day, it tumbled 824 points or 3.33% to 23,893.70. Nifty also saw its worst single-day fall since June 4, 2024, when markets crashed more than 5% due to general election results.

Sensex and Nifty had declined more than 1% in the previous session on August 2. In two sessions to August 5, the key indices have corrected around 4%.

Investors lost more than ₹15 lakh crore in the market crash as the total valuation of BSE-listed companies dropped to ₹441.84 lakh crore on August 5. Investors lost ₹4.46 lakh crore on August 2, taking the total losses in two days to more than ₹19 lakh crore.

In the broader market, the BSE smallcap gauge dropped 4.21% and midcap index plummeted 3.60%.

An over 12% plunge in Japan’s Nikkei and geopolitical tensions in the Middle East dented market sentiment, analysts said.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled sharply lower.

Japan’s benchmark stock index plunged 12.4% on August 5, compounding a global market rout set off by investor concerns that the U.S. economy could be headed for recession.

A report on August 2 showing hiring by U.S. employers slowed last month by much more than expected convulsed financial markets, vanquishing the euphoria that had taken the Nikkei 225 to all-time highs of over 42,000 in recent weeks.

On August 5, the Nikkei closed down 4,451.28 points at 31,458.42. It had dropped 5.8% on August 2, making this its worst two-day decline ever. Its worst single-day rout was a plunge of 3,836 points, or 14.9%, on October 19, 1987, a global markets crash that was dubbed “Black Monday” but proved to be only a temporary setback despite fears it might have augured a worldwide downturn.

European markets were also trading with deep cuts. The U.S. markets ended significantly lower on August 2.

From the Sensex pack, Tata Motors slumped over 7%. Adani Ports, Tata Steel, SBI, Power Grid, JSW Steel and Maruti were the other big laggards.

However, Hindustan Unilever and Nestle ended in positive territory.

“The global markets were jolted into a cautious mode by recessionary fears in the U.S. following disappointing job statistics and unwinding of carry trade following the rapid rise of the yen. The effects were felt by the domestic market as well and are expected to impact in the near term,” said Mr. Vinod Nair, Head of Research, Geojit Financial Services.

Foreign institutional investors (FII) offloaded equities worth ₹3,310 crore on August 2, according to exchange data.

“The global market is reeling as bears enter with a cocktail of bad news. The fear of a reverse Yen carry trade, following an interest rate hike in Japan, was the initial catalyst. This was compounded by fears of a recession in the U.S. after extremely poor jobs data, which spooked market sentiment,” said Santosh Meena, Head of Research, Swastika Investmart Ltd. 

All indices ended lower. Services index nosedived 4.56%, utilities tanked 4.30%, realty by 4.25%, capital goods by 4.13%, industrials by 4.08%, power by 3.91%, oil & gas by 3.88% and commodities by 3.82%.

“Nifty fell more than 2.6% driven by global sell-off post signs of U.S. recession setting in and rise in interest rates in Japan. A disappointing job scenario in the U.S. coupled with the fear of a reverse Yen carry trade, following an interest rate hike in Japan, led Asian markets to plunge on August 5 with Nikkei falling more than 12%.

“European stocks fell, extending last week’s decline amid a deepening global rout in equities and a rotation away from the technology shares that have powered this year’s rally,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

“The Bank of Japan’s rate hike has significantly impacted global markets, causing the market to reconsider the financial landscape. Additionally, renewed speculation about a long-anticipated U.S. recession has emerged, partly due to a slightly higher-than-expected unemployment rate,” Vikas V. Gupta, CEO & Chief Investment Strategist, OmniScience Capital, said.

A total of 3,414 stocks declined while 664 advanced and 111 remained unchanged on the BSE.

Global oil benchmark Brent crude declined 1.93% to $75.33 a barrel.