Benchmark Sensex and Nifty staged a dramatic rebound on Monday to settle higher following buying in HDFC Bank, ICICI Bank and Tata Consultancy Services.

Helped by buying at the fag-end, the 30-share BSE Sensex closed higher by 111.66 points or 0.15% at 72,776.13. The index opened lower and plummetted further 798.46 points or 1.09% to hit a low of 71,866.01 in day trade.

The NSE Nifty rose by 48.85 points or 0.22% to 22,104.05. The 50-issue rebounded around 310 points from the day’s low of 21,821.05 and hit a high of 22,131.65.

From the Sensex basket, Asian Paints, Sun Pharma, HDFC Bank, Tata Consultancy Services, Axis Bank, Tata Steel, JSW Steel, Larsen & Toubro, ICICI Bank and Power Grid were the major gainers.

Tata Motors dropped over 8% despite reporting over three-fold jump in consolidated net profit at ₹17,528.59 crore for the fourth quarter ended March 31, 2024.

NTPC, Bharti Airtel, Titan, State Bank of India and Nestle were the other major laggards.

Vinod Nair, Head of Research, Geojit Financial Services said, “Though the market reversed from the day’s low and ended up with a marginal gain, investors remain concerned over the progressing general election and high valuation.”

An absence of major positive triggers and the flight of FIIs from the domestic market will keep the short-term trend weak, Mr. Nair added.

“The week kicked off with market volatility, but by the end, it managed to eke out marginal gains. Initially bearish sentiments gave way to a recovery, particularly among key heavyweights, which not only erased losses but also propelled the index to close near the day’s peak,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.

Experts said that market volatility was high amid the ongoing Lok Sabha polls. As many as 96 seats went to polls in the fourth phase of elections on Monday.

“VIX’s rise from record lows to above 20 now, has unfolded in just a fortnight’s time. So, while recent history points to more room for upside in VIX and thereby volatility, the abruptness in the rate of change of VIX, may lead to a cool off, perhaps even before the electoral results,” Anand James, Chief Market Strategist, Geojit Financial Services said.

In the broader market, the BSE midcap gauge climbed 0.36% while smallcap index dipped 0.23%.

Among the indices, services climbed 1.41% while realty (1.32%), healthcare (1.15%), industrials (1.03%), commodities (0.79%) and bankex (0.65%) also advanced.

Consumer Discretionary, telecommunication, utilities and auto were among the laggards.

In Asian markets, Seoul, Tokyo and Shanghai settled lower while Hong Kong ended in the positive territory.

European markets were trading mostly lower. Wall Street ended mostly higher on Friday.

Foreign institutional investors (FIIs) offloaded equities worth ₹2,117.50 crore on Friday, according to exchange data.

Global oil benchmark Brent crude climbed 0.28% to $83.02 a barrel.

The BSE benchmark climbed 260.30 points or 0.36% to settle at 72,664.47 on Friday. The NSE Nifty climbed 97.70 points or 0.44% to 22,055.20.

Representational image.
| Photo Credit: PTI

Benchmark equity indices Sensex and Nifty plunged nearly 1% on Wednesday, in continuation with the pessimistic trend amid the ongoing tensions in the Middle East.

Falling for the fifth day running, the 30-share BSE Sensex tanked 522.82 points or 0.81% to settle at 64,049.06. During the day, it dropped 659.72 points or 1.02% to 63,912.16.

The Nifty fell 159.60 points or 0.83% to 19,122.15.

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Among the Sensex firms, Infosys, Bharti Airtel, NTPC, Tata Motors, IndusInd Bank, Bajaj Finance, ICICI Bank, Tech Mahindra, Titan and Axis Bank were among the major laggards.

Tata Steel, State Bank of India, Mahindra & Mahindra, Maruti and Nestle were the gainers.

In Asian markets, Tokyo, Shanghai and Hong Kong settled in the positive territory while Seoul ended lower.

European markets were trading in the negative territory. The U.S. markets ended in the green on Tuesday.

“Investor sentiment is on edge as tensions in West Asia continue to drag the market. Despite a drop in oil prices and an optimistic view of the progressing Q2 results season, investors took a cautious approach due to the expectation that a higher interest rate scenario would continue slowing future growth,” said Vinod Nair, Head of Research at Geojit Financial Services.

Mr. Nair further said that a positive strategy is evident on large-cap stocks, amid growing geopolitical worries and valuation concerns in mid and small-cap stocks, as overall earnings growth is being sustained.

Global oil benchmark Brent crude climbed 0.30% to $88.32 a barrel.

“The market was waiting for an opportunity for profit-booking – the recent hike in bond yields to 5%, increased geopolitical tensions risking a flare-up in the Middle East as well and early in-line corporate results have all just provided the platform for much-awaited correction,” said Pawan Bharaddia, Co-founder, Equitree.

Foreign Institutional Investors (FIIs) bought equities worth ₹252.25 crore on Monday, according to exchange data.

Equity markets were closed on Tuesday on account of Dussehra festival.

The BSE benchmark plunged 825.74 points or 1.26% to settle at 64,571.88 on Monday. The Nifty fell 260.90 points or 1.34% to 19,281.75.

Investors and brokers react as they watch the stock prices on a digital screen. File
| Photo Credit: PTI

Equity benchmark indices bounced back on Tuesday (October 17) after three days of fall amid recovery in global markets and buying in HDFC Bank post its quarterly earnings.

The 30-share BSE Sensex climbed 261.16 points or 0.39% to settle at 66,428.09. During the day, it jumped 392.89 points or 0.59% to 66,559.82.

The Nifty gained 79.75 points or 0.40% to 19,811.50.

Among the Sensex firms, Power Grid, Kotak Mahindra Bank, Tech Mahindra, Bajaj Finserv, ITC, Bharti Airtel, Nestle, NTPC, Bajaj Finance, Reliance Industries, Infosys and HDFC Bank were the major gainers.

HDFC Bank ended nearly 1 per cent up after the company reported a consolidated net profit of Rs 16,811 crore for the September quarter, its maiden quarterly earnings announcement after merging parent HDFC with itself.

Tata Motors, Larsen & Toubro, IndusInd Bank, Tata Consultancy Services, JSW Steel and Mahindra & Mahindra were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the positive territory.

European markets were trading in the green. The U.S. markets had ended with gains on Monday.

Global oil benchmark Brent crude climbed 0.48% to $90.08 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹593.66 crore on Monday, according to exchange data.

The BSE benchmark had declined 115.81 points or 0.17% to settle at 66,166.93 on Monday. The Nifty had slipped 19.30 points or 0.10% to 19,731.75.

Tech Mahindra was the biggest loser in the Sensex pack, slipping 4.59%, followed by Asian Paints, Wipro, Kotak Mahindra Bank, Bajaj Finserv, Infosys, ITC, Mahindra & Mahindra, Hindustan Unilever, IndusInd Bank, Reliance Industries and JSW Steel. File
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty fell by nearly 1% on Thursday due to unabated foreign capital outflows amid a largely negative trend in global markets.

Besides, heavy selling pressure in index major Reliance Industries, Infosys and ITC also dented market sentiments, traders said.

The 30-share BSE Sensex fell 610.37 points or 0.92% to settle at 65,508.32. During the day, it plunged 695.3 points or 1.05% to 65,423.39.

The Nifty declined 192.90 points or 0.98% to end at 19,523.55.

Tech Mahindra was the biggest loser in the Sensex pack, slipping 4.59%, followed by Asian Paints, Wipro, Kotak Mahindra Bank, Bajaj Finserv, Infosys, ITC, Mahindra & Mahindra, Hindustan Unilever, IndusInd Bank, Reliance Industries and JSW Steel.

In contrast, Larsen & Toubro, Bharti Airtel, Power Grid and Axis Bank were among the gainers.

In Asian markets, Shanghai ended in the green while Tokyo and Hong Kong settled lower. Trading was closed in South Korea for a holiday.

European markets were trading in the negative territory. The U.S. markets ended on a mixed note on Wednesday.

Global oil benchmark Brent crude dipped 0.38% to $96.18 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹354.35 crore on Wednesday, according to exchange data.

“The selling was broad-based, as investors are on alert given the rise of oil prices. If crude continues to stay above the USD 90 level, it will be a threat to inflation and boil the operational margins. Currently, the combination of higher interest rates and US bond yields are influencing FIIs to stay in the selling mode,” said Vinod Nair, Head of Research at Geojit Financial Services.

The BSE benchmark had climbed 173.22 points or 0.26% to settle at 66,118.69 on Wednesday. The Nifty gained 51.75 points or 0.26% to end at 19,716.45.

Image used for representational purpose only.
| Photo Credit: Reuters

Sensex and Nifty darted up to fresh lifetime highs on Friday, propelled by a rally in global markets and fresh foreign capital inflows.

Besides, buying in telecom, auto and tech stocks also helped markets to settle with gains, traders said.

Rallying for the 11th day running, the 30-share BSE Sensex jumped 319.63 points or 0.47% to settle at a record closing of 67,838.63. During the day, it rallied 408.23 points or 0.60% to hit its fresh all-time intra-day high of 67,927.23.

The Nifty went up by 89.25 points or 0.44% to end at its all-time closing high of 20,192.35. During the day, it advanced 119.35 points or 0.59% to hit its lifetime intra-day peak of 20,222.45.

Bharti Airtel was the biggest gainer in the Sensex pack, rising 2.37%, followed by Mahindra & Mahindra, HCL Tech, Tata Motors, Tech Mahindra, HDFC Bank, Wipro, Tata Consultancy Services, Axis Bank and Nestle.

Asian Paints, Hindustan Unilever, Bajaj Finserv and NTPC were among the laggards.

In Asian markets, Seoul, Tokyo and Hong Kong ended with gains, while Shanghai settled lower.

European equities were trading in the green. The U.S. markets ended in positive territory on Thursday.

Foreign Institutional Investors (FIIs) turned buyers on Thursday as they bought equities worth ₹294.69 crore, according to exchange data.

“The market is inching towards a new direction with renewed buying in auto and IT stocks in expectation of strong festive demand and a strong deal wins. Better-than-expected economic data from China and stimulus hopes further added optimism in global markets.

“The ECB (European Central Bank) hinted at a potential pause in rates due to receding inflation, while investors are now focused on central bank meetings next week, with the U.S. FED, BoE (Bank of England), and BoJ (Bank of Japan) set to announce their rate decisions,” said Vinod Nair, Head of Research at Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.26% to $93.94 a barrel.

The BSE gauge had climbed 52.01 points or 0.08% to settle at 67,519 on Thursday. The Nifty advanced 33.10 points or 0.16% to end at its all-time closing high of 20,103.10.