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

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| Photo Credit: The Hindu

The Rupee was trading in a narrow range and appreciated three paise to 83.25 against the U.S. dollar in early trade on October 19, amid a negative trend in domestic equities.

Forex traders said the Rupee is trading in a narrow range as sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments.

At the interbank foreign exchange, the domestic unit opened at 83.26 against the dollar and then touched an early high of 83.25, registering a gain of three paise over its previous close. On Wednesday, the Rupee settled at 83.28 against the U.S. dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.04% higher at 106.60. Brent crude futures, the global oil benchmark, fell 0.55% to $91 per barrel.

Forex traders said crude oil prices fell as markets await further development from the Israel-Hamas war, while focus remained on upcoming signals from the U.S. Fed.

In the domestic equity market, the 30-share BSE Sensex was trading 435.23 points or 0.66% lower at 65,441.79. The broader NSE Nifty declined 131.00 points or 0.67% to 19,540.10.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on October 18 as they sold shares worth ₹1,831.84 crore, according to exchange data.

“FPIs continued their relentless selling in stocks and this buying of dollars from oil companies who due to steep rise in oil prices have been on the U.S. dollar buy side for the last one month keeping rupee in range as RBI sold dollars,” Anil Kumar Bhansali, head of Treasury and executive director at Finrex Treasury Advisors LLP, said.

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| Photo Credit: Reuters

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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| Photo Credit: Reuters

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 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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| Photo Credit: The Hindu

The Rupee appreciated by 10 paise to 82.93 against the U.S. dollar in early trade on September 12, tracking a positive trend in domestic equities and foreign fund inflows.

Forex traders said the Rupee is trading in a narrow range as the soft U.S. dollar and positive domestic markets provided support, while concerns over global economic slowdown and rising expectations of a rate hike by FOMC amid strong economic data from the U.S. may cap sharp gains for the local unit.

At the interbank foreign exchange, the domestic unit opened at 82.93, registering a rise of 10 paise over its last close.

On Monday, the Rupee closed on a flat note at 83.03 against the American currency. In the initial trade, the Rupee also touched a low of 83 against the greenback.

“Major crosses have been weighed down in the last few weeks following broader strength in the dollar. Safe haven buying in the greenback is also witnessed as economic concerns in China continue to weigh on the overall market sentiment,” Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said.

Mr. Somaiya further said that “we expect the USDINR (spot) to trade sideways and quote in the range of 82.80 and 83.20”.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell marginally by 0.02% to 104.55. Brent crude futures, the global oil benchmark, rose 0.39% to $90.99 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 310.36 points or 0.46% higher at 67,437.44. The broader NSE Nifty advanced 80.40 points or 0.4% to 20,076.75.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they purchased shares worth ₹1,473.09 crore, according to exchange data.

The rupee appreciated by 9 paise to 82.61 against the US dollar in early trade on Friday, September 1, 2023 tracking cues from positive domestic equity markets on the back of robust macroeconomic data.

However, outflow of foreign funds and crude prices hovering around USD 87 per barrel weighed on the domestic unit, according to forex traders.

As per the government data released on Thursday, India recorded GDP growth of 7.8 per cent during the April-June period of 2023-24, the highest in the past four quarters, retaining its position as the world’s fastest-growing major economy.

At the interbank foreign exchange, the domestic unit opened strong at 82.58, then touched the lowest level of 82.63 against the greenback.

Later, the rupee was trading at 82.61 against the dollar, registering a gain of 9 paise from its previous close.

On Thursday, the rupee closed at 82.70 against the dollar.

Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said: “Rupee rose marginally after data showed growth accelerated at 7.8 per cent in April-June quarter of FY24. However, the growth in the manufacturing sector fell to 4.7 per cent in the first quarter of the current fiscal as against 6.1 per cent in the year-ago period.

“Yesterday, the dollar rose marginally after core PCE index rose 4.2 per cent, a slightly stronger pace than the 4.1 per cent increase recorded in June. Today, volatility is expected to low ahead of the important non-farm payrolls and ISM manufacturing PMI number that will be released from the US. Lower-than-expected data could keep the dollar weighed down against its major crosses. We expect the USDINR (Spot) to trade sideways with a negative bias and quote in the range of 82.30 and 82.80,” Mr. Somaiya added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03 per cent to 103.65.

Brent crude futures, the global oil benchmark, was trading 0.23 per cent higher at USD 87.03 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 71.05 points or 0.11 per cent higher at 64,902.46 points. The broader NSE Nifty advanced 36.90 points or 0.19 per cent to 19,290.70 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth ₹2,973.10 crore, according to exchange data.

Benchmark equity indices declined in early trade on Monday, August 14, 2023 falling for the third day running, amid weak global market trends and fresh foreign fund outflows.

Caution also prevailed in the market ahead of announcement of wholesale and retail inflation numbers for July later in the day.

The 30-share BSE Sensex fell 461.48 points to 64,861.17. The NSE Nifty declined 154.1 points to 19,274.20.

From the Sensex pack, Tata Motors, State Bank of India, JSW Steel, Bajaj Finance, Tata Steel, Bajaj Finserv, Tech Mahindra, Power Grid, Mahindra & Mahindra, Tata Consultancy Services, HCL Technologies and HDFC Bank were the major laggards.

Sun Pharma and Nestle were the gainers.

The US markets ended mostly lower on Friday.

Global oil benchmark, Brent crude, declined 0.85 per cent to $86.07 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,073.28 crore on Friday, according to exchange data.

“The market construct has turned a bit negative. The spike in the dollar index to 103 and the US 10-year bond yield rising to 4.18 are negative for capital flows to emerging markets. The FPI sell figure of ₹3,073 crore last Friday is in tune with these negative trends,” said V.K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.