Equity benchmark indices Sensex and Nifty hit their new all-time high levels during early trade. File
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty hit their new all-time high levels during early trade on Friday (August 30, 2024), amid the ongoing bullish rally in domestic stocks, tracking firm trends in Asian markets and fresh foreign fund inflows.

The 30-share BSE Sensex jumped 502.42 points to hit a fresh all-time high of 82,637.03 in early trade. The NSE Nifty surged 105.7 points to hit a new record peak of 25,257.65.

Among the 30 Sensex firms, Bajaj Finserv, HDFC Bank, Titan, Bajaj Finance, NTPC, Power Grid, Asian Paints and HCL Technologies were the biggest gainers.

Tata Motors and Sun Pharma were the laggards.

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

The U.S. markets ended on a mixed note on Thursday (August 29).

Foreign Institutional Investors (FIIs) bought equities worth ₹3,259.56 crore on Thursday, according to exchange data.

Domestic Institutional Investors also bought equities worth ₹2,690.85 crore.

“Continuation of accumulation of quality largecaps by the DIIs (Domestic Institutional Investors) and HNIs and the FIIs reducing their selling significantly and buying on certain days have contributed to the resilience of the market,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.23% to $80.12 a barrel.

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, that key catalysts for markets rally include substantial FII buying, positive global cues, and upbeat U.S. GDP data.

The BSE benchmark jumped 349.05 points or 0.43% to settle at an all-time closing high of 82,134.61 on Thursday, extending its winning momentum to the eighth day in a row.

Rallying for the 11th straight session, the Nifty surged 99.60 points or 0.40% to settle at a new closing high of 25,151.95.

A sub-broker makes flower offerings before the statue of a bull outside the Bombay Stock Exchange in Mumbai. File photo
| Photo Credit: The Hindu

Benchmark equity indices Sensex and Nifty hit their new lifetime peaks in early trade on Wednesday, June 19, 2024, amid a firm global market trends, buying in bank stocks and foreign fund inflows.

The bullish trend in early trade comes a day after the Fitch Ratings raised India’s growth forecast for the current fiscal to 7.2 per cent from 7 per cent projected in March, citing a recovery in consumer spending and increased investment.

Rallying for the fifth straight session, the 30-share BSE Sensex climbed 280.32 points to hit its fresh lifetime peak of 77,581.46 during the early trade. The NSE Nifty went up by 72.95 points to hit a new record high of 23,630.85.

Among the 30 Sensex companies, IndusInd Bank, ICICI Bank, JSW Steel, Axis Bank, Kotak Mahindra Bank, Infosys, Tata Consultancy Services and HDFC Bank were the biggest gainers.

Titan, NTPC, Power Grid and Bajaj Finance were among the laggards.

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

US markets ended in the positive territory on Tuesday.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,569.40 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.01 per cent to USD 85.34 a barrel.

Fitch Ratings on Tuesday raised India’s growth forecast for the current fiscal to 7.2 per cent from 7 per cent projected in March, citing a recovery in consumer spending and increased investment.

Investors and brokers react after monitoring thestock prices on a digital screen. File photo
| Photo Credit: ANI

Benchmark equity indices Sensex and Nifty hit their fresh record high levels in early trade on Thursday, June 13, 2024, after retail inflation slipped to one-year low in May along with buying in IT stocks.

The 30-share BSE Sensex jumped 538.89 points to hit its lifetime peak of 77,145.46. The NSE Nifty climbed 158.1 points to its record peak of 23,481.05.

Among the 30 Sensex companies, Wipro, Tech Mahindra, Nestle, Titan, HCL Technologies, Bajaj Finance, Infosys, Kotak Mahindra Bank, Tata Consultancy Services and Bajaj Finserv were the biggest gainers.

Hindustan Unilever and Power Grid were the laggards.

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

US markets ended mostly with gains.

Retail inflation continued its downward slide to reach a one-year low of 4.75 per cent in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank’s comfort zone of below 6 per cent, according to government data released on Wednesday.

“There is good news on the inflation front, both in the US and in India. The takeaway from the inflation numbers is that the disinflation process is well on track. From the market perspective, this is positive news, particularly for banking stocks,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude declined 0.36 per cent to USD 82.30 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 426.63 crore on Wednesday, according to exchange data.

“The US Fed kept interest rates unchanged for the seventh time in a row at 5.5 per cent. The Fed Chief acknowledged modest progress on inflation as against no progress at all in the last meeting. Markets took this acknowledgement on inflation in a positive stride,” said Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities.

The BSE benchmark climbed 149.98 points or 0.20 per cent to settle at 76,606.57 on Wednesday. The Nifty ended at a new closing peak of 23,322.95, up 58.10 points or 0.25 per cent.

A trader in a Mumbai stock broker’s office, reacts to the stock prices in the BSE sensitive Index. File phpoto
| Photo Credit: The Hindu

Benchmark equity indices Sensex and Nifty hit their fresh all-time peaks in early trade on Friday, May 24, 2024, amid buoyant investors’ sentiment days ahead of the results of the Lok Sabha polls announcement and fresh foreign fund inflows.

The 30-share BSE Sensex climbed 164.24 points to hit its all-time high of 75,582.28 in early trade. The NSE Nifty went up by 36.4 points to breach the 23,000 mark for the first time ever. It hit its lifetime peak of 23,004.05.

From the Sensex firms, Bajaj Finance, Larsen & Toubro, Tata Steel, State Bank of India, HDFC Bank and Bharti Airtel were the major gainers.

Mahindra & Mahindra, Tata Consultancy Services, Maruti and JSW Steel were among the laggards.

Foreign Institutional Investors (FIIs) turned buyers on Thursday after days of offloading equities. They bought equities worth ₹4,670.95 crore on Thursday, according to exchange data.

The results of the ongoing general elections will be declared on June 4.

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

Wall Street ended in negative territory on Thursday.

Global oil benchmark Brent crude climbed 0.05 per cent to USD 81.40 a barrel.

“Yesterday, Nifty neared the 23,000 mark, driven by investor optimism about the current regime’s continuation in the upcoming general elections,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

With nearly a fortnight left for the results of Lok Sabha polls, benchmark stock indices Sensex and Nifty zoomed more than 1.6 per cent to close at lifetime high levels on Thursday.

Regaining the 75,000 level, the BSE Sensex ended at an all-time peak of 75,418.04, up by 1,196.98 points or 1.61 per cent. The NSE Nifty inched closer to the 23,000 mark during the day on Thursday. The 50-issue index went up by 369.85 points or 1.64 per cent to 22,967.65.

Benchmark equity indices climbed in early trade on Thursday, May 23, 2024, amid buying in blue chips Larsen & Toubro and Reliance Industries.

The 30-share BSE Sensex climbed 41.65 points to 74,262.71 in early trade. The NSE Nifty went up by 20.1 points to 22,617.90.

The BSE benchmark later traded 225.06 points higher at 74,456.44 and the Nifty quoted with a gain of 77.50 points at 22,675.30.

Among the Sensex firms, Larsen & Toubro, Asian Paints, Axis Bank, State Bank of India, Reliance Industries, Wipro, Titan and Bharti Airtel were the major gainers.

Power Grid, Sun Pharma, JSW Steel and Tata Steel were the laggards.

RBI dividend to govt

The Reserve Bank of India will pay a record $2.1 lakh crore dividend to the government for the fiscal ended March 31, more than double of what was budgeted expectation, helping shore up revenue ahead of a new government taking office.

The RBI board, at its 608th meeting on May 22, 2024,, approved the transfer of surplus, the central bank said in a statement.

“There are positives and negatives for the market today. The biggest positive is the record Rs 2.11 lakh crore dividend from the RBI to the government, which will give an additional 0.3% of GDP fiscal room for the government,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

This means the government can reduce its fiscal deficit and step up infrastructure spending, he added.

“Brent crude dipping below $82 is positive for India’s macros,” Vijayakumar said.

The negative for equity markets is the Fed meeting minutes which indicate concern over the stubbornness of inflation, he noted.

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

Wall Street ended in negative territory on Wednesday.

Global oil benchmark Brent crude declined 0.40 per cent to USD 81.57 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹686.04 crore on Wednesday, according to exchange data.

The BSE benchmark climbed 267.75 points or 0.36 per cent to settle at 74,221.06 on Wednesday. The NSE Nifty advanced 68.75 points or 0.31 per cent to finish at 22,597.80.

Image used for representational purpose.
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty tumbled nearly 1% on October 9 as investors offloaded finance, utility and energy stocks amid escalating tensions in the Middle East and surging crude oil prices overseas.

Investors stayed on the sidelines and refrained from taking big risks amid huge uncertainty due to the Israel Hamas conflict, analysts said.

Also read | Markets tumble in early trade amid tensions in Middle East

The 30-share BSE Sensex fell 483.24 points or 0.73% to settle at 65,512.39. The Nifty declined 141.15 points or 0.72% to end at 19,512.35.

Only three Sensex stocks traded in the green, while the Nifty-50 saw its 43 stocks closing in the red.

Mahindra & Mahindra was the top laggard in the Sensex pack, sliding 2.05%, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan.

However, IT majors HCL Technologies and TCS defied the trend and gained 1.02% and 0.47%, respectively. FMCG firm Hindustan Unilever rose 0.32%.

Investors were also trading cautiously ahead of macroeconomic data to be announced later this week.

The industrial production and manufacturing data for August are scheduled to be announced on October 12. Inflation rate for September and Wholesale Price Index (WPI) data will be announced on October 13.

On Friday, the Reserve Bank of India expectedly left its key interest rate unchanged and signalled it would keep liquidity tight using bond sales to bring prices closer to the target.

Elsewhere in Asian markets, Hang Seng was trading 0.19% higher. Shanghai Composite Index was down 0.41%, while Taiwan T SEC 50 Index was up 0.28%. The Japanese stock markets were closed on Monday.

European markets were trading on a mixed note. Germany’s DAX declined 0.50%, and France’s CAC 40 was down 0.27%t. London’s FTSE 100 was trading 0.26% higher.

The U.S. markets ended higher on Friday with S&P 500 closing with a gain of 1.18% and Dow Jones Industrial Average Index up 0.87%.

Meanwhile, global oil benchmark Brent crude rose sharply by 3.32% to $87.39 a barrel on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹90.29 crore on Friday, according to exchange data.

The BSE benchmark had climbed 364.06 points or 0.55% to settle at 65,995.63 points on Friday. The Nifty had advanced 107.75 points or 0.55% to end at 19,653.50.

Benchmark equity indices rebounded in early trade on Thursday, October 5, 2023, after two days of decline amid recovery in global markets.

The 30-share BSE Sensex climbed 383.31 points to 65,609.35 in early trade. The Nifty advanced 108.95 points to 19,545.05.

Among the Sensex firms, Titan, ICICI Bank, Larsen & Toubro, Infosys, Tata Consultancy Services, ITC and Tata Motors were the biggest gainers.

Power Grid and Nestle were the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the green.

The US markets ended in the positive territory on Wednesday.

Global oil benchmark Brent crude climbed 0.71 per cent to USD 86.42 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,424.02 crore on October 4, according to exchange data.

“The triple whammy of spiking dollar, US bond yields and crude is slowly easing, paving the way for a recovery in markets. The decline in the dollar and US bond yields are mild and, therefore, not adequate for a reversal of FII selling, which continues to be very high. But the sharp correction in Brent crude to USD 86 is a big positive,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The BSE benchmark went lower by 286.06 points or 0.44 per cent to settle at 65,226.04 on Wednesday. The Nifty declined 92.65 points or 0.47 per cent to end at 19,436.10.

Equity benchmark indices climbed in early trade on Monday, August 28, 2023, tracking strength in global markets.

The BSE Sensex climbed 177.63 points to 65,064.14 in early trade. The NSE Nifty gained 62.2 points to 19,328.

From the Sensex pack, Jio Financial Services Ltd, Tata Steel, Larsen & Toubro, Sun Pharma, Power Grid, HDFC Bank and JSW Steel were among the gainers.

HCL Technologies, Hindustan Unilever, Bharti Airtel, Asian Paints, Nestle and Titan were among the laggards.

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

The US markets ended in the positive territory on Friday.

“The market will be keenly watching for signals from the RIL AGM today,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global oil benchmark Brent crude declined 0.11 per cent to USD 84.39 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,638.21 crore on Friday, according to exchange data

The BSE benchmark had ended lower by 365.83 points or 0.56 per cent at 64,886.51 on Friday. The Nifty declined by 120.90 points or 0.62 per cent to end at 19,265.80.

A traffic signal in the foreground of the Bombay Stock Exchange on Dalal Street seems to reflect the mood of the stock markets in Mumbai.
| Photo Credit: The Hindu

The equity benchmark indices fell in early trade on Friday, August 25, 2023, amid a weak trend in global markets.

The BSE Sensex fell 452.68 points to 64,799.66. The NSE Nifty declined 125.95 points to 19,260.75.

From the Sensex pack, Jio Financial Services Ltd fell 4.98 per cent to touch the lower circuit limit of Rs 205.15, falling for the fifth day running. IndusInd Bank, Larsen & Toubro, Bharti Airtel, Axis Bank, UltraTech Cement and ITC were among the other laggards.

Bajaj Finserv, Tata Motors, Asian Paints and Maruti were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in negative territory.

The US markets ended lower on Thursday.

“The message from Fed chief Jerome Powell tonight will be keenly watched for any clues on the future trajectory of interest rates in the US,” said V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.20 per cent to $83.53 a barrel.

Foreign Institutional Investors (FIIs) were buyers on August 24 as they bought equities worth ₹1,524.87 crore, according to exchange data.

“Traders will continue to maintain caution and may trim their equity exposure in case the global mood worsens ahead of Federal Reserve Chairman Jerome Powell’s speech at the annual Fed Jackson Hole symposium later today.

“Traders would gauge from the Fed’s speech whether inflation continues to remain a challenge and more rate hikes could be in the offing going ahead,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

The BSE benchmark had pared early gains to settle 180.96 points or 0.28 per cent lower at 65,252.34 on Thursday. The Nifty declined 57.30 points or 0.29 per cent to settle at 19,386.70.