People walk past the Bombay Stock Exchange (BSE) building, in Mumbai.
| Photo Credit: PTI

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.
| Photo Credit: PTI

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 screen displays stock numbers outside the Bombay Stock Exchange (BSE) building, in Mumbai.
| Photo Credit: PTI

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.
| Photo Credit: PTI

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.

Image for representational purposes only.
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Equity benchmark indices Sensex and Nifty ended lower on July 22, dragged down by heavy selling pressure in Reliance Industries and Kotak Mahindra Bank ahead of the Budget.

Besides, a weak trend in global equity markets also hit investors sentiment, traders said.

Falling for the second day in a row, the 30-share BSE Sensex fell 102.57 points or 0.13% to settle at 80,502.08. During the session, it tanked 504 points or 0.62% to 80,100.65.

The NSE Nifty dipped 21.65 points or 0.09% to 24,509.25. During the day, it dropped 168.6 points or 0.68% to 24,362.30.

Reliance Industries declined over 3% among the Sensex pack after the company reported a 5% drop in its June quarter net profit.

Kotak Mahindra Bank also fell more than 3% after its June quarter earnings failed to cheer investors.

ITC, State Bank of India, HCL Technologies and IndusInd Bank were the other big laggards.

NTPC, UltraTech Cement, HDFC Bank and Mahindra & Mahindra were among the gainers.

HDFC Bank climbed over 2% after the company’s consolidated net profit grew 33.17% to ₹16,474.85 crore in the June 2024 quarter.

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

European markets were trading higher in the mid-session deals. U.S. markets ended lower in overnight trade on July 19

According to the Economic Survey, 2023-24 tabled in Parliament on July 22, capital markets are becoming more prominent in India’s growth story, with an expanding share in capital formation and investment landscape on the back of technology, innovation and digitisation.

Further, Indian markets are resilient to global geo-political and economic shocks, it added.

“Despite heightened geo-political risks, rising interest rates and volatile commodity prices, Indian capital markets have been one of the best performing among emerging markets in FY24,” the Economic Survey said.

Meanwhile, global oil benchmark Brent crude dipped 0.08 per cent to $82.53 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,506.12 crore on July 19, according to exchange data.

The BSE benchmark hit its new all-time high of 81,587.76 in the initial trade on July 19 but failed to carry forward the winning momentum and tanked 738.81 points or 0.9% to settle below the 81,000 mark at 80,604.65.

Nifty tumbled 269.95 points or 1.09% and ended at 24,530.90 after hitting its fresh record peak of 24,854.80 during the opening bell on July 19.

Stock prices are displayed on a digital screen at the facade of the Bombay Stock Exchange building, in Mumbai.
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Equity benchmark indices rebounded in early trade on July 11 amid a rally in global markets and continuous foreign fund inflows.

Buying in IT stocks also added to the positive trend in equities.

The 30-share BSE Sensex climbed 245.32 points to 80,170.09 in early trade. The NSE Nifty went up by 78.2 points to 24,402.65.

Among the Sensex pack, Tata Consultancy Services climbed over 1% ahead of its quarterly earnings announcement later in the day.

The other prominent gainers were HCL Technologies, Tata Motors, Tata Steel, Maruti, Infosys and State Bank of India.

Power Grid, Nestle, Sun Pharma, HDFC Bank and Mahindra & Mahindra were among the laggards.

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

U.S. markets ended significantly higher on July 10.

Foreign Institutional Investors (FIIs) bought equities worth ₹583.96 crore on July 10, according to exchange data.

Global oil benchmark Brent crude climbed 0.76% to $85.73 a barrel.

The BSE benchmark closed lower by 426.87 points or 0.53% at 79,924.77 on July 10. 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 July 10.

From the Sensex basket, Tata Motors dropped more than 7%.
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty declined in early trade on May 13 amid continuous foreign fund outflows, weak trends from Asian markets and heavy selling in Tata Motors.

The 30-share BSE Sensex tanked 462.33 points to 72,202.14. The NSE Nifty declined 125.8 points to 21,929.40.

From the Sensex basket, Tata Motors dropped more than 7% despite reporting over three-fold jump in consolidated net profit at ₹17,528.59 crore for the fourth quarter ended March 31, 2024.

JSW Steel, Tata Steel, NTPC, State Bank of India, Power Grid and Mahindra & Mahindra were the other major laggards. Sun Pharma emerged as the only gainer from the pack.

In Asian markets, Seoul, Tokyo and Shanghai were trading lower while Hong Kong quoted in the positive territory. Wall Street ended mostly higher on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,117.50 crore on Friday, according to exchange data. Global oil benchmark Brent crude declined 0.31% to $82.53 a barrel.

The BSE benchmark climbed 260.30 points or 0.36% to settle at 72,664.47 on Friday. The NSE Nifty climbed 97.70 points or 0.44% to 22,055.20.

From the Sensex basket, Larsen & Toubro went lower by more than 3% after March quarter earnings.
| Photo Credit: Reuters

Benchmark equity indices declined in early trade on May 9 amid heavy foreign fund outflows and selling in Reliance Industries and Tata Consultancy Services.

Declining for the third day running, the 30-share BSE Sensex dropped 209.6 points to 73,256.79. The NSE Nifty dipped 77.7 points to 22,224.80. From the Sensex basket, Larsen & Toubro went lower by more than 3% after March quarter earnings.

Tata Consultancy Services, Tech Mahindra, ITC, Bajaj Finserv, Bharti Airtel and Reliance Industries were the other laggards. Mahindra & Mahindra, Titan, Maruti and Tata Motors were among the gainers.

“A major trend in the market now is the aggressive selling by FIIs, which has touched Rs 15,863 crore so far this month. It is important to understand that there is a new factor triggering FII selling, apart from the high US bond yields. This is the outperformance of the Chinese and Hong Kong markets,” said V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹6,669.10 crore on Wednesday, according to exchange data.

In Asian markets, Tokyo, Shanghai and Hong Kong were trading with gains while Seoul traded lower. Wall Street ended on a mixed note on May 8. Global oil benchmark Brent crude climbed 0.43% to $83.94 a barrel.

The 30-share BSE Sensex declined 45.46 points or 0.06% to settle at 73,466.39 on Wednesday. The NSE Nifty remained unchanged at 22,302.50.

From the Sensex basket, Asian Paints, UltraTech Cement, Hindustan Unilever, HDFC Bank, HCL Technologies, Bajaj Finance, Bajaj Finserv and ICICI Bank were the major laggards. 
| Photo Credit: Reuters

Benchmark Sensex declined more than 45 points in highly volatile trade on May 8, tracking weak Asian markets and continuous foreign fund outflows.

Declining for the second straight session, the 30-share BSE Sensex fell 45.46 points or 0.06% to settle at 73,466.39. During the day, it went lower by 437.93 points or 0.59% to 73,073.92. The NSE Nifty remained unchanged at 22,302.50.

From the Sensex basket, Asian Paints, UltraTech Cement, Hindustan Unilever, HDFC Bank, HCL Technologies, Bajaj Finance, Bajaj Finserv and ICICI Bank were the major laggards. On the other hand, Tata Motors, Power Grid, NTPC, Larsen & Toubro and Maruti were among the gainers.

In Asian markets, Tokyo, Shanghai and Hong Kong settled lower, while Seoul ended with gains. European markets were trading with gains. Wall Street ended on a mixed note on May 7. Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,668.84 crore on Tuesday, according to exchange data. Global oil benchmark Brent crude declined 1.65% to $81.79 a barrel.

The BSE benchmark went lower by 383.69 points or 0.52% to settle at 73,511.85 on Tuesday. The NSE Nifty declined 140.20 points or 0.62% to 22,302.50.

From the Sensex basket, Power Grid, IndusInd Bank, Tata Motors, JSW Steel, NTPC, HCL Technologies, Tata Steel, ICICI Bank, Mahindra & Mahindra, Axis Bank, HDFC Bank and Reliance Industries were among the major laggards.
| Photo Credit: Reuters

Equity benchmark indices declined on May 7 dragged by HDFC Bank, Reliance Industries and ICICI Bank amid concerns over rich valuation of equities.

Paring all its early gains, the 30-share BSE Sensex went lower by 383.69 points or 0.52% to settle at 73,511.85. During the day, it tanked 636.28 points or 0.86% to 73,259.26. The NSE Nifty declined 140.20 points or 0.62% to 22,302.50.

From the Sensex basket, Power Grid, IndusInd Bank, Tata Motors, JSW Steel, NTPC, HCL Technologies, Tata Steel, ICICI Bank, Mahindra & Mahindra, Axis Bank, HDFC Bank and Reliance Industries were among the major laggards.

Among the gainers, Hindustan Unilever climbed more than 5%. Tech Mahindra, Nestle, ITC, Wipro, Tata Consultancy Services and Kotak Mahindra Bank were the other major gainers.

In Asian markets, Seoul, Tokyo and Shanghai settled with gains while Hong Kong ended lower. European markets were trading higher. Wall Street ended in the green on May 6. Global oil benchmark Brent crude climbed 0.23% to $83.51 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,168.75 crore on Monday, according to exchange data. The BSE benchmark edged up 17.39 points or 0.02% to settle at 73,895.54 on Monday. The NSE Nifty declined 33.15 points or 0.15% to 22,442.70.