According to a stock analysit, the stock markets may continue to exhibit intra-day volatility ahead of the monetary policy announcement on Friday, October 6.
| Photo Credit: The Hindu

Equity benchmark indices declined in early trade on Wednesday, October 4, 2023, extending their previous day’s fall, in line with weak global market trends and unabated foreign fund outflows.

The 30-share BSE Sensex plunged 533.13 points to 64,978.97. The Nifty declined 153.35 points to 19,375.40.

Among the Sensex firms, NTPC, Axis Bank, IndusInd Bank, Maruti, UltraTech Cement, ICICI Bank, Tata Steel and Bajaj Finserv were the major laggards.

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

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

The US markets ended with over 1 per cent fall on Tuesday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,034.14 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude declined 0.10 per cent to USD 90.83 a barrel.

“Global cues are negative for markets in the near-term. The sustained rise in the US bond yields, which has triggered continuous FII selling, is showing no signs of abating. The dollar index is now clearly above 107 and the US 10-year bond yield is at 4.83 per cent. This means FIIs will continue to sell and the bulls will be on the back foot,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

He further said that on the positive side, valuations in some segments are becoming attractive and this may push DIIs (Domestic Institutional Investors) and retail investors to buy stocks in such segments.

The BSE benchmark had declined 316.31 points or 0.48 per cent to settle at 65,512.10 on Tuesday. The Nifty fell 109.55 points or 0.56 per cent to end at 19,528.75.

“Markets may continue to exhibit intra-day volatility ahead of the monetary policy announcement on Friday. The real culprit over the current pessimism is FII selling,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Equity benchmark indices climbed in early trade on Monday, August 28, 2023, tracking strength in global markets.

The BSE Sensex climbed 177.63 points to 65,064.14 in early trade. The NSE Nifty gained 62.2 points to 19,328.

From the Sensex pack, Jio Financial Services Ltd, Tata Steel, Larsen & Toubro, Sun Pharma, Power Grid, HDFC Bank and JSW Steel were among the gainers.

HCL Technologies, Hindustan Unilever, Bharti Airtel, Asian Paints, Nestle and Titan were among the laggards.

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

The US markets ended in the positive territory on Friday.

“The market will be keenly watching for signals from the RIL AGM today,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global oil benchmark Brent crude declined 0.11 per cent to USD 84.39 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,638.21 crore on Friday, according to exchange data

The BSE benchmark had ended lower by 365.83 points or 0.56 per cent at 64,886.51 on Friday. The Nifty declined by 120.90 points or 0.62 per cent to end at 19,265.80.

A traffic signal in the foreground of the Bombay Stock Exchange on Dalal Street seems to reflect the mood of the stock markets in Mumbai.
| Photo Credit: The Hindu

The equity benchmark indices fell in early trade on Friday, August 25, 2023, amid a weak trend in global markets.

The BSE Sensex fell 452.68 points to 64,799.66. The NSE Nifty declined 125.95 points to 19,260.75.

From the Sensex pack, Jio Financial Services Ltd fell 4.98 per cent to touch the lower circuit limit of Rs 205.15, falling for the fifth day running. IndusInd Bank, Larsen & Toubro, Bharti Airtel, Axis Bank, UltraTech Cement and ITC were among the other laggards.

Bajaj Finserv, Tata Motors, Asian Paints and Maruti were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in negative territory.

The US markets ended lower on Thursday.

“The message from Fed chief Jerome Powell tonight will be keenly watched for any clues on the future trajectory of interest rates in the US,” said V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.20 per cent to $83.53 a barrel.

Foreign Institutional Investors (FIIs) were buyers on August 24 as they bought equities worth ₹1,524.87 crore, according to exchange data.

“Traders will continue to maintain caution and may trim their equity exposure in case the global mood worsens ahead of Federal Reserve Chairman Jerome Powell’s speech at the annual Fed Jackson Hole symposium later today.

“Traders would gauge from the Fed’s speech whether inflation continues to remain a challenge and more rate hikes could be in the offing going ahead,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

The BSE benchmark had pared early gains to settle 180.96 points or 0.28 per cent lower at 65,252.34 on Thursday. The Nifty declined 57.30 points or 0.29 per cent to settle at 19,386.70.