ICICI Bank, Bajaj Finserv, Titan, Nestle and HDFC Bank were among the gainers. File
| Photo Credit: Reuters

Snapping its record-breaking rally, benchmark BSE Sensex closed marginally down on Tuesday (September 3, 2024) due to profit-taking in metal, oil and IT shares amid weak global trends.

Halting its 10-day winning run, the 30-share BSE Sensex slipped 4.40 points or 0.01% to settle at 82,555.44 in a range-bound trade. During the day, it dropped 159.08 points or 0.19% to 82,400.76.

Broader 50-issue Nifty of NSE eked out gains of 1.15 points to close at a fresh peak of 25,279.85, taking its gaining streak to a record 14 days.

In the 10-day rally, Sensex spurted 2,135 points or 2.61%. Nifty has surged nearly 1,141 points or 4.59% in 14 straight days.

Among the 30 Sensex firms, Bajaj Finance, Infosys, Adani Ports, JSW Steel, HCL Tech, Bharti Airtel, IndusInd Bank and Tata Motors were the biggest laggards.

ICICI Bank, Bajaj Finserv, Titan, Nestle and HDFC Bank were among the gainers.

“Amid mixed global signals and the absence of significant new catalysts, aside from the anticipated Fed rate cut, which is already factored in, the domestic market took a breather. Mild caution emerged due to a recent slowdown in manufacturing activities, which indicates a slowdown in demand,” said Vinod Nair, Head of Research, Geojit Financial Services.

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

European markets were quoting in the negative territory. The U.S. markets were closed on Monday (September 2, 2024) for the Labour Day holiday.

“Markets ended flat in a lacklustre trading session as investors exercised caution on the back of weak Asian and European cues. Also, the markets have been hitting new highs in the recent upsurge and hence investors are a bit sceptical about taking further bullish bets,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

In the broader market, the BSE smallcap gauge climbed 0.54% and midcap index went up by 0.19%.

Among the indices, utilities declined 0.77%, oil & gas (0.69%), realty (0.53%), tech (0.51%) and IT (0.31%).

Financial Services, healthcare, industrials, bankex, consumer durables and services were the winners.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,735.46 crore on Monday (September 2, 2024), according to exchange data.

Global oil benchmark Brent crude declined 1.79% to USD 76.13 a barrel.

People walk past the Bombay Stock Exchange (BSE) building, in Mumbai. File photo
| Photo Credit: PTI

Benchmark equity indices declined in early trade on Tuesday (September 3, 2024) due to emergence of profit-taking after a record rally.

Weak trends from Asian peers also contributed to the tepid investors’ sentiment in the domestic equity market during the early deals.

The 30-share BSE Sensex declined 78.28 points to 82,481.56 in early trade. The NSE Nifty dipped 23.6 points to 25,255.10.

Among the 30 Sensex firms, Bajaj Finance, Bajaj Finserv, Infosys, ICICI Bank, Tech Mahindra and Titan were the biggest laggards.

ITC, Sun Pharma, Hindustan Unilever and Nestle were among the gainers.

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

The US markets were closed on Monday for the Labour Day holiday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,735.46 crore on Monday, according to exchange data.

Global oil benchmark Brent crude declined 0.40 per cent to USD 77.21 a barrel.

Surging for the 10th straight session on Monday, the BSE benchmark jumped 194.07 points or 0.24 per cent to settle at an all-time closing high of 82,559.84. During the day, it surged 359.51 points or 0.43 per cent to reach a new intra-day record peak of 82,725.28.

The Nifty climbed 42.80 points or 0.17 per cent to settle at a lifetime closing high of 25,278.70, taking its winning run to the 13th day in a row. During the day, it soared 97.75 points or 0.38 per cent to hit a fresh all-time intra-day peak of 25,333.65.

In a 13-day gaining streak since August 14, the Nifty has rallied 4.72 per cent or nearly 1,140 points. The BSE benchmark has jumped 2.65 per cent or 2,135.16 points in its 10 straight days of gains.

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.

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.

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.

Brokers react after the Sensex surge in early morning trade. File photo
| Photo Credit: ANI

Equity benchmark indices started the trade on an optimistic note on Wednesday, July 3, 2024, with the Sensex breaching the historic 80,000-mark for the first time ever and the Nifty hitting its fresh lifetime high, amid heavy buying in bank stocks and firm global market trends.

The 30-share BSE Sensex jumped 597.77 points to hit a new lifetime high of 80,039.22. The Nifty climbed 168.3 points to hit a fresh record peak of 24,292.15.

Among the Sensex pack, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel and Nestle were the biggest gainers.

Tata Consultancy Services, Sun Pharma, Infosys and Tata Motors were among the laggards.

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

US markets ended higher on Tuesday.

The BSE benchmark declined 34.74 points or 0.04 per cent to settle at 79,441.45 in a volatile trade on Tuesday. During the day, it jumped 379.68 points or 0.47 per cent to hit a record peak of 79,855.87.

The Nifty declined by 18.10 points or 0.07 per cent to 24,123.85. Intra-day, it climbed 94.4 points or 0.39 per cent to hit a lifetime high of 24,236.35.

Global oil benchmark Brent crude climbed 0.56 per cent to USD 86.72 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,000.12 crore on Tuesday, according to exchange data.