Equity benchmark indices began the trade on an optimistic note on Wednesday (August 14, 2024) after two days of plunge, tracking a rally in the US markets, amid hopes of rates cut by the Fed in September.

The 30-share BSE Sensex climbed 144.92 points to 79,100.95 in early trade. The NSE Nifty went up 57.5 points to 24,196.50.

From the 30 Sensex firms, HCL Technologies, Mahindra & Mahindra, Tech Mahindra, Tata Motors, State Bank of India and NTPC were the biggest gainers.

UltraTech Cement, ICICI Bank, Adani Ports and Hindustan Unilever were among the laggards.

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

The US markets ended significantly higher on Tuesday.

“The PPI (Producer Price Inflation) numbers from the US indicate softening of inflation, and a confirmation of this declining trend is likely from the CPI numbers coming today. The US market moved up yesterday in anticipation of this and a rate cut by the Fed in September,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,107.17 crore on August 13. 204, according to exchange data, while Domestic Institutional Investors (DIIs) bought equities worth ₹1,239.96 crore.

Global oil benchmark Brent crude climbed 0.61 per cent to USD 81.18 a barrel.

The BSE benchmark tumbled 692.89 points or 0.87 per cent to settle at 78,956.03 on Tuesday. The NSE Nifty slumped 208 points or 0.85 per cent to 24,139.

A vendor walks past by a poster of bear and bull in south Mumbai, reflecting the mood of the stock markets, as the BSE sensex went down by 640 points in early trader on August 2, 2024. File photo
| Photo Credit: The Hindu

Benchmark equity indices Sensex and Nifty tumbled in early trade on Friday, August 2, 2024, as investors rushed to book profits after record-breaking rallies in the past few sessions as well as tracking cues from global sell-offs.

Economic Survey 2023-24 cautions against significant increase in retail investors in stock market

Massive selling in bellwether stocks like Reliance and ICICI Bank also dragged the investors’ sentiment.

The 30-share BSE Sensex plunged 640.13 points to trade at 81,227.42 in the morning trade. The NSE Nifty declined 271.40 points to 24,739.50. Both the indices slumped up to 1 per cent during early deals.

From the Sensex pack, Tata Motors, Maruti Suzuki India, Tata Steel, JSW Steel, Larsen & Toubro, Adani Ports, Tech Mahindra, NTPC, and Tech Mahindra were the laggards.

HDFC Bank, Hindustan Unilever, Asian Paints, Nestle India and ITC were among the gainers.

“The rally in India has been sustained more by money flows into the market than by fundamentals. Without fundamental support the rally cannot sustain. It remains to be seen whether the buy on dips strategy will work this time too. Since valuations are high some profit booking, particularly in mid and small caps, can be considered,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude rose 0.78 per cent to USD 80.14 a barrel.

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

The US stock market also ended lower on Thursday after a record rally.

Foreign institutional investors bought equities worth ₹2,089.28 crore in the capital markets on Thursday.

The 30-share Sensex climbed 126.21 points or 0.15 per cent to settle at a new lifetime high of 81,867.55, while NSE Nifty rose 59.75 points or 0.24 per cent to settle at an all-time closing peak of 25,010.90.

A monthly survey released on Thursday showed India’s manufacturing sector growth eased slightly in July, on softer increases in new orders and output, while cost pressures and demand strength led to the steepest increase in selling prices since October 2013.

The government’s GST collections in July rose 10.3 per cent to over Rs 1.82 lakh crore, mainly driven by domestic transactions in goods and services, according to official data released on Thursday.

Benchmark BSE Sensex rose by nearly 286 points to close at a record high while Nifty settled above 24,950 level on Wednesday, extending their winning run to the fourth day on gains in metal, power and select auto shares.

The 30-share BSE Sensex settled higher by 285.94 points or 0.35% at 81,741.34, its all-time closing high, with 20 of its components advancing and 10 ending lower. The index opened higher and jumped 372.64 points or 0.45% to hit an intra-day high of 81,828.04.

The NSE Nifty rose 93.85 points or 0.38% to close at an all-time high of 24,951.15. During the day, it surged 127.3 points or 0.51% to hit a high of 24,969.35.

“The domestic market is attempting to cross above the psychological threshold of 25,000, as subdued Q1FY25 earnings and stretched valuations are curbing the challenge, while positive global trends and sector rotation are supporting the traction,” Vinod Nair, Head of Research, Geojit Financial Services said. Positive global sentiment driven by expectations of an easing interest rate cycle by the U.S. Fed and the RBI in the medium term, owing to benign inflation, ignited the rally, he added.

The market capitalisation of BSE-listed companies jumped to a life-time peak of ₹462.38 lakh crore ($5.52 trillion) on July 31 helped by a four-day rally in benchmark indices, making investors richer by ₹5.45 lakh crore.

Top gainers

Among the Sensex stocks, JSW Steel, Asian Paints, Maruti Suzuki India, NTPC, Adani Ports and Special Economic Zone, Bharti Airtel, ITC and Tech Mahindra were the major gainers.

Maruti Suzuki rose by 2.28% as the auto major reported a 47% jump in its net profit for the June quarter. Reliance Industries, Tata Motors, Infosys, Mahindra and Mahindra, Bajaj Finance and Axis Bank were the laggards.

At the market close, the BSE smallcap gauge fell 0.14% in the broader market. However, BSE MidCap gauge jumped 0.86%. During the day, both the indices hit their all-time high level. Among the indices, Utilities surged (1.57%), followed by Power (1.46%), Metal (1.12%), Healthcare (0.91%) and Commodities (0.74%). Energy, Telecommunication and Realty were the laggards.

In the broader market, Torrent Power shares zoomed nearly 17% to finish at ₹1,867.10 per piece on the BSE. Also, Omaxe shares fell 5% on the BSE after SEBI barred the real estate firm, its Chairman Rohtas Goel, MD Mohit Goel and three others from the securities market for two years for irregularities in the company’s financial statements.

Prashanth Tapse, Senior VP (Research) at Mehta Equities, said Nifty ended comfortably in the green ahead of the FOMC outcome, closing just shy of the psychological 25,000 mark, signifying the bulls’ continued strength on Dalal Street. Investors now await key data releases and the FOMC outcome, with expectations set on Jerome Powell’s commentary, he said.

U.S. Fed to announce its policy stance later today

As expected, the Bank of Japan raised its interest rate an now all eyes are on U.S. Fed policy to be announced later in the evening.

The U.S. Federal Reserve (Fed) will announce its fifth interest rate decision for this year later in the night, after a two-day meeting of the Federal Open Market Committee (FOMC). From this meeting, the Fed might offer hints about a possible rate cut in September.

“Indian shares began Wednesday on a positive note, buoyed by strong cues from other Asian markets amid expectations for additional stimulus measures from Beijing to support its ailing economy,” Avdhut Bagkar Technical and Derivatives Analyst at StoxBox, said.

The European markets were trading in the green territory while Asian markets settled higher. Wall Street closed on a mixed note on Tuesday. Global oil benchmark Brent crude rose 1.88% to $80.51 a barrel.

Foreign institutional investors offloaded equities worth ₹5,598.64 crore on July 31, according to exchange data.

At the interbank currency exchange, the domestic currency opened at 83.72, 1 paisa higher than the previous day’s close.
| Photo Credit: Reuters

The rupee rose 2 paise to 83.71 against the U.S. currency in early trade on July 31 following a marginal dip in the dollar in overseas markets.

At the interbank currency exchange, the domestic currency opened at 83.72, 1 paisa higher than the previous day’s close.

The domestic unit moved in the tight range of 83.70-83.72 in early trade.

Forex traders said the rise in Brent crude oil prices offset the rupee’s gains following the decline in dollar rates overseas.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, declined 0.19% to 104.36.

Brent crude futures—the global oil benchmark—rose 1.49% to USD 79.80 per barrel.

Also Read: Sensex, Nifty retreat from record highs to close flat ahead of key US Fed rate decision

All eyes will be on the U.S. Fed rate announcement later in the day. Expectations are ripe that the Federal Reserve might signal a rate cut as early as September.

In the domestic equity market, the 30-share BSE Sensex showed volatility, rising over 200 points in early trade to reach a record high before trading at 81,517.75, up 62.35 points, at 9.35 a.m.

“Foreign institutional investors were net sellers in the capital markets on July 30, offloaded shares worth ₹5,598.64 crore,” according to exchange data.

The bull statue at the Bombay Stock Exchange building, in Mumbai.
| Photo Credit: PTI

Equity benchmark indices climbed on Wednesday, July 31, 2024, as the markets saw volatile trading amid buying in bank stocks in tandem with mixed global trends.

Rallying for the fourth day running, the 30-share BSE Sensex climbed 116.94 points to 81,572.34 in early trade. The NSE Nifty went up 33.75 points to 24,891.05.

From the Sensex pack, NTPC, Asian Paints, JSW Steel, Bharti Airtel, ITC, ICICI Bank, Adani Ports, and Special Economic Zone and Tech Mahindra were the major gainers.

Power Grid, Tata Motors, IndusInd Bank, Axis Bank, Reliance Industries and Kotak Mahindra Bank were among the laggards.

In the Asian markets, Shanghai, Hong Kong, and Seoul are trading higher while Tokyo is quoting in the negative territory.

The U.S. markets settled on a mixed note on Tuesday.

“The global cues are likely to be supportive on expectations of a rate cut from the US Federal Reserve (Fed) in September. The Fed commentary expected tonight is likely to indicate the possibility of rate cut in September.

“It is time for investors to take a long-term call on the market and moderate their expectations to realistic levels. At this juncture in the market safety is important,” V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. Chasing super normal returns from the broader market will be a risky game, he said.

Global oil benchmark Brent crude is rose 1.49 per cent to USD 79.80 a barrel.

Foreign institutional investors offloaded equities worth ₹5,598.64 crore on Tuesday, according to exchange data.

On Tuesday, the 30-share BSE Sensex closed higher by 99.56 points, or 0.12 per cent, at 81,455.40 — its all-time closing high.

The NSE Nifty edged up 21.20 points, or 0.09 per cent, to settle at an all-time closing high of 24,857.30.

The logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai. File photo
| Photo Credit: REUTERS

Equity market benchmark indices Sensex and Nifty hit their new all-time high levels in early trade on Monday, July 29, 2024, in-tandem with a rally in global peers and fresh foreign fund inflows.

The 30-share BSE Sensex jumped 416.62 points to hit a new record peak of 81,749.34 in early trade. The NSE Nifty surged 145.6 points to hit a fresh lifetime peak of 24,980.45.

From the Sensex pack, NTPC, State Bank of India, IndusInd Bank, ICICI Bank and UltraTech Cement were among the biggest gainers.

Titan, Bharti Airtel, ITC and Tech Mahindra were among the laggards.

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

The US markets rallied on Friday.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,546.38 crore on Friday, according to exchange data.

“The undercurrent of this bull market has turned stronger on positive cues. The soft landing scenario for the US economy and the expectation of a rate cut by the Fed in September are intact. This will provide global support to this bull market,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

In a departure from recent trends both FIIs and DIIs (Domestic Institutional Investors) turned buyers last Friday resulting in a total buying of Rs 5,320 crore pushing the market sharply up, he added.

Global oil benchmark Brent crude climbed 0.35 per cent to USD 81.41 a barrel.

The BSE benchmark jumped 1,292.92 points or 1.62 per cent to settle at 81,332.72 on Friday.

The NSE Nifty surged 428.75 points or 1.76 per cent to settle at an all-time closing high of 24,834.85.

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

Indian shares opened lower on July 22, dragged by Reliance Industries and Wipro after both companies posted weaker-than-expected quarterly results, while volatility spiked a day before the Union Budget was due.

The NSE Nifty 50 fell 0.55% to 24,398.75, while the S&P BSE Sensex shed 0.47% to 80,220.7, as of 9:22 a.m. IST. All 13 sectors logged losses. The more domestically-focussed small- and mid-caps fell 1% and 0.7%, respectively.

Oil-to-telecom conglomerate Reliance, which reported first-quarter profit below analysts’ estimates on July 19 hurt by lower margins on fuel sales, lost 2.7%. Wipro, which missed quarterly revenue estimates due to weak demand in Europe and Asia-Pacific, lost 7.5%, becoming the top percentage loser on the Nifty 50 and information technology indexes.

Volatility rose to a six-week high of 15.5%, ahead of the budget.

HDFC Bank, the country’s top private lender and the heaviest stock in the Nifty 50, rose about 1% after beating quarterly profit forecasts on Saturday, as loan-loss provisions fell.

Brokers watch the market trade. File photo
| Photo Credit: ANI

Equity benchmark indices hit their new record high levels in early trade on Friday, July 19, 2024, but failed to hold on to the gains and were later trading lower tracking weak trends from global markets.

The 30-share BSE Sensex hit its new all-time high of 81,587.76 in the initial trade but failed to carry forward the winning momentum and declined 166.93 points to 81,176.53.

The NSE Nifty also dropped 73.1 points to 24,727.75 after hitting its fresh record peak of 24,854.80 during the opening bell.

Among the Sensex pack, Tech Mahindra, UltraTech Cement, Tata Steel, JSW Steel, Sun Pharma and Power Grid were the biggest laggards.

Infosys climbed nearly 3 per cent after the IT major reported a 7 per cent rise in consolidated net profit at Rs 6,368 crore in the April-June quarter and raised its growth outlook for the current financial year, signalling an improvement in the IT segment.

Asian Paints, ITC, Nestle and Adani Ports were the other gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were quoting lower.

The US markets ended in negative territory on Thursday.

Global oil benchmark Brent crude declined 0.41 per cent to USD 84.76 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹5,483.63 crore on Thursday, according to exchange data.

The BSE benchmark Sensex jumped 626.91 points or 0.78 per cent to settle at a fresh closing high of 81,343.46 on Thursday.

The broader Nifty climbed 187.85 points or 0.76 per cent to settle at an all-time closing high of 24,800.85.

A sub-broker makes flower offerings before the statue of a bull outside the Bombay Stock Exchange (BSE) ahead of trading in Mumbai. File photo
| Photo Credit: The Hindu

Equity benchmark indices maintained their winning momentum for the third day running in early trade on Tuesday, July 16, 2024, with the Nifty hitting its new all-time peak, amid foreign fund inflows and a rally in the US markets.

The 30-share BSE Sensex climbed 185.55 points to 80,850.41 in early trade. The NSE Nifty rallied 63.35 points to hit a new all-time peak of 24,650.05.

Among the Sensex pack, Bharti Airtel, Mahindra & Mahindra, Hindustan Unilever, Tata Steel, Adani Ports, Infosys, ICICI Bank and Titan were the biggest winners.

Power Grid, Larsen & Toubro, Kotak Mahindra Bank and Axis Bank were among the laggards.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,684.78 crore on Monday, according to exchange data.

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

US markets ended in positive territory on Monday.

Global oil benchmark Brent crude dipped 0.27 per cent to USD 84.62 a barrel.

The BSE benchmark climbed 145.52 points or 0.18 per cent to settle at a new record high of 80,664.86 on Monday.

The NSE Nifty rallied 84.55 points or 0.35 per cent to settle at an all-time closing high of 24,586.70.

The bull statue at the Bombay Stock Exchange building, in Mumba.
| Photo Credit: PTI

Equity benchmark indices rallied in early trade on Friday, July 12, 2024, amid buying in IT stocks after TCS announced its June quarter earnings.

The 30-share BSE Sensex climbed 226.11 points to 80,123.45 in early trade. The NSE Nifty went up by 82.1 points to 24,398.05.

Among the Sensex pack, Tata Consultancy Services climbed over 2 per cent after the country’s largest IT services player reported 8.7 per cent growth in the June quarter net profit at ₹12,040 crore.

Infosys, Axis Bank, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and HCL Technologies were the other major gainers.

Maruti, Asian Paints, Bharti Airtel and ITC were among the laggards.

“The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

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

US markets ended mostly lower on Thursday.

Global oil benchmark Brent crude climbed 0.25 per cent to USD 85.59 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,137.01 crore on Thursday, according to exchange data.

Retreating from early highs, the BSE benchmark closed lower by 27.43 points or 0.03 per cent at 79,897.34 on Thursday. The NSE Nifty edged down 8.50 points or 0.03 per cent to settle at 24,315.95.