Benchmark equity indices Sensex and Nifty tumbled in early trade on Wednesday. File
| Photo Credit: PTI

Benchmark equity indices Sensex and Nifty tumbled in early trade on Wednesday (September 4, 2024) after a record-breaking rally, tracking extremely weak trends from the global markets.

The 30-share BSE Sensex tumbled 721.75 points to 81,833.69 after a weak beginning to the trade. The NSE Nifty tanked 196.05 points to 25,083.80.

Among the 30 Sensex firms, JSW Steel, Infosys, Larsen & Toubro, State Bank of India, Tata Steel, Mahindra & Mahindra, Bharti Airtel and Axis Bank were the major laggards.

Asian Paints, Bajaj Finserv, Bajaj Finance, and Hindustan Unilever were the gainers.

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

The U.S. markets ended significantly lower on Tuesday (September 3, 2024).

“The selloff in U.S. markets yesterday (Tuesday) was triggered by growth concerns. There are indications of U.S. manufacturing moving into contraction, thereby threatening the soft landing expectation, which has been the pillar of support for the mother market U.S. and consequently for other markets, too,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Halting its 10-day rally on Tuesday, the BSE benchmark dipped 4.40 points or 0.01% to settle at 82,555.44. The Nifty, however, eked out a marginal gain of 1.15 points to settle at 25,279.85, its highest-ever closing level.

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

According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth ₹1,029.25 crore on Tuesday. Global oil benchmark Brent crude declined 0.61% to $73.30 a barrel.

The 30-share BSE Sensex jumped 349.05 points or 0.43% to settle at an all-time closing high of 82,134.61, extending its winning momentum to the eighth day in a row. File
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty hit their all-time high levels on Thursday (August 29, 2024), driven by a rally in index majors Reliance Industries and Tata Motors.

The 30-share BSE Sensex jumped 349.05 points or 0.43% to settle at an all-time closing high of 82,134.61, extending its winning momentum to the eighth day in a row. During the day, it soared 500.27 points or 0.61 per cent to hit a lifetime intra-day peak of 82,285.83.

Rallying for the 11th straight session, the NSE Nifty surged 99.60 points or 0.40% to settle at a new closing high of 25,151.95. During the trade, the benchmark climbed 140.55 points or 0.56% to hit a fresh record intra-day peak of 25,192.90.

Among the 30 Sensex firms, Tata Motors jumped over 4%, followed by Bajaj Finserv, Bajaj Finance, HCL Technologies, ITC, Reliance Industries, Tech Mahindra, Maruti and State Bank of India.

Reliance Industries climbed nearly 2% after Mukesh Ambani, chairman and managing director of the firm, said the board of the company will meet on September 5 to consider issuing bonus shares in the ratio of 1:1.

“When Reliance grows, we reward our shareholders handsomely,” Mr. Ambani said.

Mahindra & Mahindra, Sun Pharma, JSW Steel, Kotak Mahindra Bank, Infosys and Tata Steel were among the biggest laggards.

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

European markets were trading in the positive zone. The U.S. markets ended lower on Wednesday (August 28, 2024).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,347.53 crore on Wednesday(August 28, 2024), according to exchange data.

Global oil benchmark Brent crude declined 0.60% to USD 78.27 a barrel.

Rising for the tenth straight session on Wednesday (August 28, 2024), the NSE Nifty went up by 34.60 points or 0.14% to settle at a new closing high of 25,052.35. The benchmark surged 111.85 points or 0.44% to hit a fresh intra-day all-time peak of 25,129.60.

Extending its winning run to the seventh day in a row, the BSE benchmark climbed 73.80 points or 0.09 per cent to settle at 81,785.56.