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.

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.

Photo used for representation purpose only.
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty hit their fresh lifetime high levels in early trade on July 2, amid a rally in global markets and buying in IT stocks.

The 30-share BSE Sensex jumped 379.68 points to hit a record peak of 79,855.87 in early trade. The Nifty climbed 94.4 points to hit a lifetime high of 24,236.35.

Among the Sensex pack, HCL Technologies, Tata Consultancy Services, Infosys, Bharti Airtel, HDFC Bank and Power Grid were the biggest gainers.

Tata Motors, Bajaj Finance, Kotak Mahindra Bank and ICICI Bank were among the laggards.

The benchmark indices opened on a bullish note and hit all-time high levels, but soon profit booking emerged, the indices pared early gains and were trading in the negative territory.

The BSE Sensex was trading down 77.93 points, or 0.10 per cent, to 79,398.26 points. The broader NSE Nifty fell 25.65 points, or 0.11 per cent, to 24,116.30 points.

On Monday, the BSE benchmark settled higher by 443.46 points or 0.56 per cent at an all-time high of 79,476.19. The Nifty climbed 131.35 points or 0.55 per cent to settle at a fresh lifetime high of 24,141.95.

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

US markets ended in the green on Monday.

India’s gross GST collection increased 8 per cent to Rs 1.74 lakh crore in June, sources said on Monday.

Global oil benchmark Brent crude climbed 0.23 per cent to USD 86.80 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 426.03 crore on Monday, according to exchange data.

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.

A view of the Bombay Stock Exchange in Mumbai.
| Photo Credit: Reuters

Benchmark indices declined in early trade on June 27 tracking weak trends from Asian markets and foreign fund outflows.

The 30-share BSE Sensex declined 149.41 points to 78,524.84 after hitting a new all-time high of 78,771.64 in early trade. The Nifty dipped 47.45 points to 23,821.35.

Among the 30 Sensex companies, Mahindra & Mahindra, Tech Mahindra, Larsen & Toubro, HCL Technologies, Maruti, Bharti Airtel, Tata Consultancy Services and Nestle were the biggest laggards.

UltraTech Cement, JSW Steel, Tata Steel and Reliance Industries were among the gainers.

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

US markets ended in the positive territory on Wednesday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,535.43 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude declined 0.21 per cent to USD 85.07 a barrel.

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

The Nifty went up by 147.50 points or 0.62 per cent to settle at a record closing peak of 23,868.80. Intra-day, it surged 168.6 points or 0.71 per cent 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.
| 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.