In a range-bound trade, the 30-share BSE Sensex gained for the second day in a row, rising 102.44 points or 0.13% to close at 80,905.30. 
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty closed higher on Wednesday (August 21, 2024), helped by gains in FMCG, consumer durables and health-care stocks amid strong buying support from domestic institutional investors.

“However, recent foreign capital outflows amid a cautious trend in global equities ahead of the release of U.S. Fed minutes restricted the gains in domestic markets,” traders said.

In a range-bound trade, the 30-share BSE Sensex gained for the second day in a row, rising 102.44 points or 0.13% to close at 80,905.30. During the day, it rose 149.97 points or 0.18% to hit an intra-day high of 80,952.83.

Rising for the fifth straight session, the NSE Nifty went up by 71.35 points or 0.29% to end at 24,770.20.

“The Indian market traded on a tight range with a positive bias supported by strong DII flows. While defensive sector outperformed due to a continued shift in portfolio towards FMCG, consumer, commodities, and pharma.

“Global markets exhibited a mildly cautious tone ahead of the release of the FOMC minutes later today. Currently, the expectation of a rate cut remains high, given the fall in U.S. inflation and moderation in overall growth,” Vinod Nair, Head of Research, Geojit Financial Services, said.

Among the Sensex firms, Titan, Asian Paints, ITC, Hindustan Unilever, Nestle India, Bajaj Finserv and Bharti Airtel were among the gainers.

In contrast, UltraTech Cement, Tech Mahindra, Tata Steel, Power Grid, HDFC Bank, HCL Technology, State Bank of India and ICICI Bank were the laggards. The European markets were trading higher on August 21, 2024.

In Asian markets, Tokyo, Shanghai and Hong Kong were closed in the negative territory while Seoul ended higher on Wednesday. The U.S. stock markets settled lower in overnight trade on August 20, 2024.

Foreign Institutional Investors (FIIs) again turned sellers on Tuesday as they offloaded equities worth ₹1,457.96 crore, according to exchange data. Domestic Institutional Investors (DIIs) bought equities worth ₹2,252.10 crore on Tuesday. Global oil benchmark Brent crude rose 0.28% to ₹77.42 a barrel.

The 30-share BSE Sensex rebounded 378.18 points or 0.47% to settle at 80,802.86. Rising for the fourth consecutive session, the NSE Nifty surged 126.20 points or 0.51% to 24,698.85.

Among Sensex shares, State Bank of India, NTPC, UltraTech Cement, Mahindra & Mahindra, Bajaj Finance, Tata Motors, Maruti and ITC were the biggest winners.
| Photo Credit: Reuters

Benchmark Sensex and Nifty closed at new record high levels on July 15 helped by fresh foreign fund inflows and buying in State Bank of India.

The 30-share BSE Sensex climbed 145.52 points or 0.18% to settle at a new record high of 80,664.86. During the day, it advanced 343.2 points or 0.42% to hit a high of 80,862.54.

The NSE Nifty rallied 84.55 points or 0.35% to settle at an all-time closing high of 24,586.70. During the day, it surged 132.9 points or 0.54% to hit a new record peak of 24,635.05.

Among Sensex shares, State Bank of India, NTPC, UltraTech Cement, Mahindra & Mahindra, Bajaj Finance, Tata Motors, Maruti and ITC were the biggest winners.

On the other hand, Asian Paints, Tata Steel, Axis Bank, JSW Steel, Tech Mahindra and Tata Consultancy Services were among the laggards.

In Asian markets, Seoul and Shanghai settled higher while Hong Kong ended lower. European markets were trading lower. The U.S. markets ended in positive territory on July 12.

Foreign Institutional Investors (FIIs) bought equities worth ₹4,021.60 crore on Friday, according to exchange data. Global oil benchmark Brent crude climbed 0.18% to $85.15 a barrel.

The BSE benchmark jumped 622 points or 0.78% to settle at 80,519.34 on Friday. Nifty surged 186.20 points or 0.77% to settle at 24,502.15.

FPIs also invested ₹14,955 crore in the debt market in June. 
| Photo Credit: PTI

After two months of net outflow, foreign investors turned buyers in June, infusing ₹26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets.

“Looking ahead, attention will gradually shift towards the Budget and Q1 FY25 earnings, which could determine the sustainability of FPI flows,” Vipul Bhowar, director, Listed Investments, Waterfield Advisors, said.

According to the data with the depositories, Foreign Portfolio Investors (FPIs) have made a net infusion of ₹26,565 crore in equities this month.

This came following a net outflow of ₹25,586 crore in May on poll jitters and more than ₹8,700 crore in April on concerns over a tweak in India’s tax treaty with Mauritius and a sustained rise in U.S. bond yields.

Before that, FPIs made a net investment of ₹35,098 crore in March and ₹1,539 crore in February, while they took out ₹25,743 crore in January. The net outflow now stood at ₹3,200 crore in the month, data with the depositories showed.

Geojit Financial Services Chief Investment Strategist V. K. Vijayakumar said political stability, despite the BJP not getting a majority on its own, and the sharp rebound in markets aided by steady domestic institutional investors (DIIs) buying and aggressive retail buying, has forced the FPIs to turn buyers in India.

“However, the FPI buying has been focussed on a few specific stocks rather than being widespread across the market or sectors. This is because Indian equities are still considered overvalued by FPIs,” Mr. Bhowar said.

They are favouring the financial, auto, capital goods, real estate, and select consumer sectors.

“With government stability assured, impressive GDP performance and forecasts, stable consumer price index, ample forex reserves and robust banking sector health, I anticipate a steady and substantial FPI inflow,” Kislay Upadhyay, smallcase Manager & Founder Fidelfolio, said.

Additionally, FPIs invested ₹14,955 crore in the debt market in June. With this, FPIs’ investment in the debt market reached ₹68,624 crore in 2024 so far. India’s inclusion in the JP Morgan Bond Index is positive.

In the long term, this will reduce the cost of borrowing for the government and the cost of capital for corporates. This is positive for the economy and therefore, for the equity and debt market.

The BSE Sensex recorded the best monthly gain in June by climbing 7.14%. The Sensex breached the historic 79,000 mark on June 27.
| Photo Credit: Reuters

Nine of the top-10 most valued firms together added ₹2,89,699.42 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in line with a rally in equities. Last week, the BSE benchmark jumped 1,822.83 points or 2.36%.

The BSE Sensex recorded the best monthly gain in June by climbing 7.14%. The Sensex breached the historic 79,000 mark on June 27.

While Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, Hindustan Unilever and ITC were the gainers, Life Insurance Corporation of India (LIC) emerged as the laggard.

The Market Capitalisation (mcap) of Reliance Industries jumped ₹1,52,264.63 crore to ₹21,18,951.20 crore. TCS added ₹34,733.64 crore taking its valuation to ₹14,12,845.09 crore.

The mcap of ICICI Bank soared ₹30,286.99 crore to ₹8,44,201.88 crore and that of Bharti Airtel surged ₹18,267.7 crore to ₹8,22,530.35 crore. The market valuation of Infosys climbed ₹14,656.3 crore to ₹6,50,602.10 crore and that of HDFC Bank zoomed ₹13,808.74 crore to ₹12,80,865.43 crore. State Bank of India’s valuation rallied ₹11,111.14 crore to ₹7,57,565.68 crore.

The mcap of Hindustan Unilever went up by ₹7,953.37 crore to ₹5,81,570.83 crore and that of ITC climbed ₹6,616.91 crore to ₹5,30,475.82 crore. However, the valuation of LIC tumbled ₹22,042.61 crore to ₹6,25,573.90 crore.

Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.

Among the 30 Sensex companies, Reliance Industries, Bharti Airtel, UltraTech Cement, Sun Pharma, Adani Ports, Axis Bank, NTPC and Bajaj Finance were the biggest gainers.
| Photo Credit: Reuters

Stock market benchmark indices Sensex and Nifty ended at their fresh all-time high levels on June 26 in tandem with a rally in Asian peers and buying in Reliance Industries.

The 30-share BSE Sensex climbed 620.73 points or 0.80% to settle at a new closing peak of 78,674.25. During the day, it rallied 705.88 points or 0.90% to hit a fresh all-time high of 78,759.40.

The Nifty went up by 147.50 points or 0.62% to settle at a record closing peak of 23,868.80. Intra-day, it surged 168.6 points or 0.71% to hit the fresh lifetime high of 23,889.90.

Among the 30 Sensex companies, Reliance Industries, Bharti Airtel, UltraTech Cement, Sun Pharma, Adani Ports, Axis Bank, NTPC and Bajaj Finance were the biggest gainers. Mahindra & Mahindra, Tata Steel, Tech Mahindra and JSW Steel were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled with gains. European markets were trading on a mixed note. The U.S. markets ended mostly higher on June 25. Global oil benchmark Brent crude climbed 0.80% to $85.69 a barrel.

“Foreign Institutional Investors (FIIs) bought equities worth ₹1,175.91 crore on Tuesday,” according to exchange data. The BSE benchmark jumped 712.44 points or 0.92% to settle at 78,053.52 on Tuesday. The Nifty went up by 183.45 points or 0.78% to settle at 23,721.30.

Among the Sensex 30 companies, Tech Mahindra, Infosys, HCL Technologies, Tata Consultancy Services, Wipro, Bajaj Finserv, Power Grid and IndusInd Bank were the biggest gainers.
| Photo Credit: Reuters

Benchmark equity indices rallied in early trade on June 21, with the NSE Nifty hitting a fresh all-time peak, helped by buying in IT stocks and continuous foreign fund inflows.

The 30-share BSE Sensex climbed 329.52 points to 77,808.45 in early trade. The Nifty went up by 100.1 points to hit a record peak of 23,667.10.

Among the Sensex 30 companies, Tech Mahindra, Infosys, HCL Technologies, Tata Consultancy Services, Wipro, Bajaj Finserv, Power Grid and IndusInd Bank were the biggest gainers.

Tata Steel, Hindustan Unilever, Kotak Mahindra Bank and HDFC Bank were among the laggards. Foreign Institutional Investors (FIIs) bought equities worth ₹415.30 crore on June 20, according to exchange data.

“The market is in a consolidation phase, and this is likely to continue. There are no major triggers for aggressive buying or selling. Even in this consolidation phase the undertone of the market is bullish and, therefore, buying on dips will emerge imparting resilience to the market,” said V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude declined 0.15% to $85.58 a barrel. Rallying for the sixth straight session on June 20, the BSE benchmark Sensex climbed 141.34 points or 0.18% to settle at a new closing peak of 77,478.93. The Nifty rose 51 points or 0.22% to settle at its fresh closing high of 23,567.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were quoting lower. The U.S. markets ended on a mixed note on Thursday.

Among the 30 Sensex companies, JSW Steel, Tata Steel, Axis Bank, Reliance Industries, ICICI Bank, Hindustan Unilever, Kotak Mahindra Bank and Asian Paints were among the biggest gainers.
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty soared to new lifetime highs on June 20, fuelled by robust buying in market heavyweights Reliance, ICICI Bank and HDFC Bank amid a recent surge in foreign capital inflows.

Rallying for the sixth straight session, the 30-share BSE Sensex climbed 141.34 points or 0.18%s to settle at a new closing peak of 77,478.93. During the day, it surged 305.5 points or 0.39% to 77,643.09.

The NSE Nifty rose 51 points or 0.22% to settle at its fresh closing high of 23,567. Intra-day, it soared 108 points or 0.45% to 23,624. Among the 30 Sensex companies, JSW Steel, Tata Steel, Axis Bank, Reliance Industries, ICICI Bank, Hindustan Unilever, Kotak Mahindra Bank and Asian Paints were among the biggest gainers.

In contrast, Mahindra & Mahindra, Sun Pharma, NTPC, Wipro, State Bank of India and Power Grid were among the laggards. In Asian markets, Seoul and Tokyo settled in the green, while Shanghai and Hong Kong ended lower.

Markets in Europe were trading in positive territory. US markets were closed on Wednesday in observance of Juneteenth. Foreign Institutional Investors (FIIs) bought equities worth ₹7,908.36 crore on June 19, according to exchange data. Global oil benchmark Brent crude climbed 0.16% to $85.21 a barrel.

Rising for the fifth straight session on Wednesday, the BSE benchmark climbed 36.45 points or 0.05% to settle at 77,337.59. However, the Nifty ended at 23,516, down 41.90 points or 0.18%. Intra-day, it rose 106.1 points or 0.45% to 23,664.

Among the 30 Sensex companies, Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IndusInd Bank, State Bank of India, Infosys, Wipro, Tech Mahindra and HCL Technologies were the gainers.
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty ended flat on June 19 after hitting new lifetime peaks during the session on the emergence of profit-taking amid a lack of immediate triggers. In a volatile trade, profit booking in consumer durables, capital goods and energy shares negated strong gains in banking and financial stocks.

Rallying for the fifth straight session, the 30-share BSE Sensex climbed 36.45 points or 0.05% to settle at a new closing high of 77,337.59. During the day, it soared 550.49 points or 0.71% to hit the fresh lifetime peak of 77,851.63.

The NSE Nifty ended at 23,516, down 41.90 points or 0.18%. Intra-day, it rose 106.1 points or 0.45% to hit a new record of 23,664.

Among the 30 Sensex companies, Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IndusInd Bank, State Bank of India, Infosys, Wipro, Tech Mahindra and HCL Technologies were the gainers.

On the other hand, Titan, Maruti, Bharti Airtel, Larsen & Toubro, NTPC, Reliance Industries, Bajaj Finance and Power Grid were among the laggards. In Asian markets, Seoul, Tokyo and Hong Kong settled higher, while Shanghai ended lower.

European markets were trading lower in mid-session deals. The U.S. markets ended in positive territory on June 18. Foreign Institutional Investors (FIIs) bought equities worth ₹2,569.40 crore on Tuesday, according to exchange data. Global oil benchmark Brent crude declined 0.22% to $85.14 a barrel.

The BSE benchmark Sensex climbed 308.37 points or 0.40% to settle at 77,301.14 on Tuesday. The Nifty went up by 92.30 points or 0.39% to hit a record closing high of 23,557.90.

On June 6, the Rupee settled seven paise higher at 83.44 against the dollar.
| Photo Credit: The Hindu

The Rupee depreciated five paise to settle at 83.49 (provisional) against the U.S. dollar on June 6 due to foreign capital outflows and rising crude oil prices overseas.

Forex traders said a weak American currency and firm trend in the equity markets supported the local currency even as investors remained concerned ahead of the RBI’s monetary policy decision to be announced on June 7.

At the interbank foreign exchange market, the local unit opened at 83.40 and touched the intra-day low of 83.50 against the greenback during the session.

The local unit finally settled at 83.49 (provisional) against the American currency, down five paise from its previous close. On Wednesday, the Rupee settled seven paise higher at 83.44 against the dollar.

According to Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, the Rupee depreciated due to a surge in crude oil prices and selling pressure from FIIs (foreign institutional investors). However, a weak U.S. dollar and positive tone in the domestic markets supported the Rupee at lower levels.

“We expect the Rupee to trade with a slight negative bias on worries over rising crude oil prices, and as FIIs continue to sell in the markets. However, positive tone in the domestic markets as NDA is expected to come back to power for the third consecutive term, raising optimism over policy continuity may support the Rupee at lower levels,” Mr. Choudhary said, adding that “USD-INR spot price is expected to trade in a range of ₹83.20 to ₹83.80”.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.03% lower at 104.18. Analysts attributed the weakness in the dollar index to a sharp fall in U.S. Treasury yields after the latest data showed job growth in May was slower than estimated, raising expectations of an interest rate cut by the U.S. Federal Reserve.

“Market participants are likely to take further cues from the weekly employment data and trade balance numbers to be released later in the day. Besides, the decision of RBI’s rate-setting panel is likely to impact investor sentiment,” they added.

The Monetary Policy Committee (MPC) of RBI on Wednesday started its three-day deliberations to decide the next monetary policy. Reserve Bank Governor Shaktikanta Das will announce the outcome on June 7.

“The Reserve Bank of India is set to keep its repo rate at 6.5% at its June 7 review. The policy is turning more restrictive as cooling inflation pushes up real rates, hurting growth,” said Amit Goel, co-founder and Chief Global Strategist at Pace 360.

He further said the RBI’s record dividend payment of ₹2.1 lakh crore to the government for FY24 may alleviate concerns about the growth outlook. Brent crude futures, the global oil benchmark, advanced 0.31% to $78.65 per barrel.

On the domestic equity market, the 30-share BSE Sensex climbed 692.27 points or 0.93% to close at 75,074.51. The broader NSE Nifty rose 201.05 points or 0.89% to 22,821.40.

Foreign investors were net sellers of Indian equities on Wednesday as they offloaded shares worth ₹5,656.26 crore on a net basis. FIIs bought shares worth ₹21,012.72 crore and sold equities worth ₹26,668.98 crore in the cash segment.

All the 30 Sensex companies ended in the green, with IndusInd Bank jumping nearly 8%. Tata Steel, Mahindra & Mahindra, Bajaj Finance, Kotak Mahindra Bank, Axis Bank, HDFC Bank, Hindustan Unilever and JSW Steel also emerged big gainers.
| Photo Credit: Reuters

A day after facing massive erosion from their wealth, equity investors became richer by ₹13.22 lakh crore on June 5 with markets making a strong comeback. The 30-share BSE Sensex jumped 2,303.19 points or 3.20% to settle at 74,382.24. During the day, it rallied 2,455.77 points or 3.40% to 74,534.82.

In line with optimism returning at the Dalal Street, the market capitalisation of BSE-listed companies jumped ₹13,22,847.05 crore to ₹4,08,06,552.32 crore ($4.89 trillion) on June 5.

“Indian market exhibited a spirited recovery driven by broad based buying across various sectors, as political stability appears assured. However, attention will remain on the formation of the government and the forthcoming RBI policy meeting,” said Vinod Nair, Head of Research, Geojit Financial Services.

All the 30 Sensex companies ended in the green, with IndusInd Bank jumping nearly 8%. Tata Steel, Mahindra & Mahindra, Bajaj Finance, Kotak Mahindra Bank, Axis Bank, HDFC Bank, Hindustan Unilever and JSW Steel also emerged big gainers.

Tuesday’s big laggards NTPC, State Bank of India, Larsen & Toubro and Power Grid also ended in the green. In the broader market, the BSE midcap gauge jumped 4.41% and small-cap index rallied 2.93%.

All the indices ended in the green, with telecommunication soaring 6.01%, services jumping 5.74%, metal (5.36%), auto (4.50%), commodities (4.48%), and consumer discretionary (4.29%). As many as 2,597 stocks advanced while 1,221 declined and 100 remained unchanged.

“Over the next few days, there could be a lot of action around NDA staking the claim to form the government, and thereafter a lot of noise could be around key Portfolio/Ministry allocation which will keep the equity markets volatile,” Rupen Rajguru, Head Equity Investments and Strategy, Julius Baer India, said.

In line with weak trend in equities on June 4, the market capitalisation of BSE-listed companies had eroded ₹31,07,806.27 crore to ₹3,94,83,705.27 crore ($4.73 trillion).

The 30-share BSE benchmark cracked 4,389.73 points or 5.74% to settle at 72,079.05 on Tuesday. During the day, the benchmark tanked 6,234.35 points or 8.15%, to hit a nearly five-month low of 70,234.43.