Among the 30 Sensex firms, NTPC, Titan, Tata Steel, ITC, Reliance Industries, State Bank of India, Bajaj Finance and JSW Steel were the biggest gainers. File

Benchmark equity indices Sensex and Nifty climbed in early trade on Monday (August 19, 2024) amid buying in blue-chip stocks Reliance Industries and ITC along with encouraging participation from retail investors.

The 30-share BSE Sensex climbed 287.56 points to 80,724.40 in early trade. The NSE Nifty went up by 97.65 points to 24,638.80.

Among the 30 Sensex firms, NTPC, Titan, Tata Steel, ITC, Reliance Industries, State Bank of India, Bajaj Finance and JSW Steel were the biggest gainers.

Mahindra & Mahindra, Nestle, Tata Motors and Bharti Airtel were among the laggards.

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

The U.S. markets ended in the positive territory on Friday (August 16, 2024).

Foreign Institutional Investors (FIIs) turned buyers on Friday (August 16, 2024) as they bought equities worth ₹766.52 crore, according to exchange data.

Domestic Institutional Investors (DIIs) bought equities worth ₹2,606.18 crore on Friday (August 16, 2024).

“The complete dominance of the DII and retail investors over the market is the single major factor driving this bull run even though there are fundamental factors supporting the rally,” said V.K. Vijayakumar, chief investment strategist, Geojit Financial Services.

Global oil benchmark Brent crude dipped 0.19% to $79.53 a barrel.

The BSE benchmark jumped 1,330.96 points or 1.68% to settle at 80,436.84 on Friday, marking its best single-day gains in more than two months. The NSE Nifty surged 397.40 points or 1.65% to settle at a two-week high of 24,541.15.

Mumbai:

Equity benchmark indices Sensex and Nifty ticked higher to close at fresh all-time high levels today, following buying in market heavyweights ICICI Bank, Infosys and TCS amid a largely positive trend in global equities.

The 30-share BSE Sensex scaled an intraday record high of 80,392.64 in early trade. The index pared most of the gains later due to volatility and profit-taking by investors at record levels. Sensex closed 62.87 points or 0.08 per cent higher at 80,049.67, its all-time closing high.

The broader Nifty also hit an intra-day record high of 24,401 in early trade before closing almost flat. The 50-issue index rose by 15.65 points or 0.06 per cent to settle at a record 24,302.15 with 23 of its shares closing higher and 27 with losses.

“The defensive bet on large caps like IT and pharma gained momentum due to the diminishing US inflationary pressure, improvement in QoQ earnings outlook and a resultant sharp fall in the US 10-year bond yield.

“The buoyancy in government spending and the green shoots in corporate earnings are now supporting the premium valuation. Return of FIIs to the domestic market and expectation of a rate cut in September are supporting market sentiment,” Vinod Nair, Head of Research at Geojit Financial Services, said.

Among Sensex shares, HCL Technologies, ICICI Bank, Tata Motors, Sun Pharmaceuticals, Tata Consultancy Services, Infosys, Kotak Mahindra Bank and Mahindra and Mahindra were the gainers.

In contrast, HDFC Bank, Bajaj Finance, Larsen & Toubro, Tech Mahindra, UltraTech Cement and IndusInd Bank were among the laggards.

Analysts said that stock markets traded within a narrow range and ended nearly unchanged.

“The Nifty has approached its immediate target of 24,500 and appears slightly overextended. It would be prudent to take some profits and wait for a potential dip before considering new long positions in the index,” Ajit Mishra – SVP, Research, Religare Broking Ltd said.

In the broader market, the BSE Smallcap gauge jumped 0.62 per cent and the midcap index climbed 0.60 per cent.

Among the indices, healthcare soared by 1.17 per cent, IT jumped by 1.12 per cent, teck by 0.98 per cent, auto by 0.88 per cent and telecommunication rose by 0.73 per cent.

However, consumer durables fell by 0.22 per cent, FMCG (0.15 per cent), financial services (0.13 per cent), and Oil & Gas (0.02 per cent).

A total of 2,185 stocks advanced while 1,742 declined and 94 remained unchanged on the BSE.

As many as 23 Nifty shares advanced, 27 declined on the exchange.

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

European markets were trading in the green territory in mid-session deals.

US markets ended higher on Wednesday during the shortened trading session. Stock exchanges will remain closed on Thursday on account of Independence Day.

Global oil benchmark Brent crude fell 0.52 per cent to USD 86.89 a barre.

Foreign Institutional Investors (FIIs) bought equities worth Rs 5,483.63 crore on Wednesday, according to exchange data.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Mumbai:

Benchmark equity indices Sensex and Nifty plunged nearly 1 per cent today, 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 per cent to settle at 64,049.06. During the day, it dropped 659.72 points or 1.02 per cent to 63,912.16.

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

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 US 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 per cent to USD 88.32 a barrel.

“The market was waiting for an opportunity for profit-booking – the recent hike in bond yields to 5 per cent, 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 Rs 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 per cent to settle at 64,571.88 on Monday. The Nifty fell 260.90 points or 1.34 per cent to 19,281.75.