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.

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.

After an initial peak, both the benchmark indices encountered volatile trends and were trading between highs and lows.
| Photo Credit: REUTERS

Stock market benchmark indices climbed in early trade on Wednesday, June 26, 2024, with the Sensex hitting its fresh all-time high level, but soon equities faced volatile trends and were trading flat amid the emergence of profit-taking.

The 30-share BSE Sensex climbed 134.64 points to hit a new all-time high of 78,188.16 in early trade. The Nifty went up by 28.2 points to 23,749.50.

However, later both the benchmark indices encountered volatile trends and were trading between highs and lows.

Among the 30 Sensex companies, UltraTech Cement, ICICI Bank, Larsen & Toubro, Kotak Mahindra Bank, NTPC, Bajaj Finance and Tata Motors were the biggest gainers.

Mahindra & Mahindra, HDFC Bank, Tata Steel and JSW Steel were among the laggards.

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

US markets ended mostly higher on Tuesday.

Global oil benchmark Brent crude climbed 0.41 per cent to USD 85.36 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 per cent to settle at a new closing peak of 78,053.52 on Tuesday. The Nifty went up by 183.45 points or 0.78 per cent to settle at a record closing peak of 23,721.30.

A view of Bombay Stock Exchange (BSE) in Mumbai.
| Photo Credit: REUTERS

Benchmark equity indices tumbled in early trade on Monday, June 24, 2024, amid weak trends from global markets and fresh foreign fund outflows.

Profit-taking after a record-breaking rally also put pressure on the benchmark indices.

The 30-share BSE Sensex declined 463.96 points to 76,745.94. The Nifty dropped 149.6 points to 23,351.50.

Among the 30 Sensex companies, IndusInd Bank, Tata Steel, Adani Ports, State Bank of India, Bajaj Finance and JSW Steel were the biggest laggards.

Sun Pharma, ITC, ICICI Bank and Tata Consultancy Services were among the gainers.

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

US markets ended mostly lower on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,790.19 crore on Friday, according to exchange data.

Global oil benchmark Brent crude declined 0.07 per cent to USD 85.18 a barrel.

Snapping its six-day rally, the BSE benchmark declined 269.03 points or 0.35 per cent to settle at 77,209.90 on Friday. The NSE Nifty slipped 65.90 points or 0.28 per cent to end at 23,501.10.

A stock broker reacts to the fluctuating share prices on the Bombay Stock Exchange in Mumbai. File photo
| Photo Credit: The Hindu

Benchmark equity indices climbed in early trade on Thursday, June 20, 2024 but faced highly volatile trends and were soon trading flat amid the lack of any immediate market moving triggers.

The 30-share BSE Sensex climbed 250.72 points to 77,588.31 in early trade. The NSE Nifty went up by 71.7 points to 23,587.70.

However, both the benchmark indices faced heavy volatility and were quoting between highs and lows.

Among the 30 Sensex companies, Kotak Mahindra Bank, Tata Motors, UltraTech Cement, HDFC Bank, Mahindra & Mahindra and Reliance Industries were among the biggest gainers.

Sun Pharma, Power Grid, Bajaj Finserv and Bajaj Finance were among the laggards.

In Asian markets, Seoul traded in the green while Tokyo, Shanghai and Hong Kong quoted lower.

US markets markets were closed on Wednesday in observance of Juneteenth.

Foreign Institutional Investors (FIIs) bought equities worth Rs 7,908.36 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.64 per cent to USD 85.07 a barrel.

Rallying for the fifth straight session on Wednesday, the BSE benchmark climbed 36.45 points or 0.05 per cent to settle at a new closing high of 77,337.59. During the day, it soared 550.49 points or 0.71 per cent to hit the fresh lifetime peak of 77,851.63.

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