Benchmark equity indices Sensex and Nifty ended on a flat note in a lacklustre trade on Monday (August 19, 2024), as investors preferred to remain on the sidelines awaiting further triggers.

Participants also booked profits in select blue-chip stocks amid high valuation concerns, according to experts.

In a range-bound trade, the 30-share BSE Sensex slipped 12.16 points or 0.02% to settle at 80,424.68. During the day, it hit a high of 80,724.40 and a low of 80,332.65.

The NSE Nifty edged up 31.50 points or 0.13% to 24,572.65 in a volatile trade.

Among the 30 Sensex firms, Mahindra & Mahindra, IndusInd Bank, Bharti Airtel, Axis Bank, Tata Motors and ICICI Bank were the biggest laggards.

In contrast, Tata Steel, Tata Consultancy Services, NTPC, JSW Steel, Asian Paints and Reliance Industries were gainers.

“The Indian market failed to catch up with the initial gains as there is a degree of profit booking witnessed in auto stocks due to a slowdown in demand,” said Vinod Nair, head of research, Geojit Financial Services.

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

European markets were trading mostly higher. The U.S. markets ended in positive territory on Friday.

“Markets began the week on a muted note and ended nearly flat, taking a breather after Friday’s surge. Following an initial uptick, the Nifty traded within a narrow range,” Ajit Mishra, SVP, research, Religare Broking Ltd., said.

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).

Global oil benchmark Brent crude dipped 0.82% to $79.03 a barrel.

The BSE benchmark jumped 1,330.96 points or 1.68% to settle at 80,436.84 on Friday (August 16, 2024), 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.

Benchmark Sensex breaching the 81,000 mark for the first time on July 18, 2024. File
| Photo Credit: PTI

Stock markets remained on record-smashing course for the fourth straight day on July 18 with benchmark Sensex breaching the 81,000 mark for the first time and Nifty scaling the record 24,800 level driven by buying in IT, oil&gas and FMCG shares.

Rebounding from its early lows, the 30-share BSE Sensex rose by 626.91 points or 0.78% to settle at a fresh closing high of 81,343.46. The index opened on a weak note and hit a low of 80,390.37 points in early trade.

However buying in IT shares TCS, Infosys and Tech Mahindra and index heavyweight Reliance Industries helped the index pare losses in the afternoon session. The barometer surged 806 points or 0.99% to hit a new record intra-day peak of 81,522.55.

The broader Nifty also pared early losses and climbed 187.85 points or 0.76% to settle at an all-time closing high of 24,800.85. During the day, it zoomed 224.75 points or 0.91% to hit a fresh lifetime high of 24,837.75.

“The frontline indices firmed up in the second half, reaching fresh highs driven by renewed buying in IT stocks. Investor optimism for the sector grew after strong performance reports from the country’s leading IT firms in the June quarter, coupled with a weakening rupee,” Vinod Nair, Head of Research, Geojit Financial Services, said.

Softening U.S. bond yields on growing hopes of a U.S. Fed rate cut by September also boosted FII flows into Indian equities, analysts said.

Among Sensex shares, Tata Consultancy Services rose the most by 3.33%.

Infosys gained 1.93% ahead of the financial results for the June quarter. The IT major after market hours reported a 7% rise in consolidated net profit to ₹6,368 crore for the April-June period and also raised its growth outlook for the current fiscal.

Bajaj Finserv, Infosys, Mahindra & Mahindra, Tech Mahindra, Hindustan Unilever, State Bank of India and HCL Technologies were the biggest gainers.

On the contrary, Asian Paints, JSW Steel, NTPC and Adani Ports were among the laggards.

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

The U.S. markets ended mostly lower on Wednesday.

Global oil benchmark Brent crude dipped 0.14% to $84.96 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,271.45 crore on Tuesday, according to exchange data. Stock markets were closed on Wednesday on account of Muharram.

Benchmark Sensex and Nifty have been on a record-breaking run since Friday. The indices have traded at lifetime high levels in the four straight sessions. Nifty advanced nearly 485 points or 1.98% while Sensex rose by 1446 points or 1.79% since Friday.

Benchmark Sensex and Nifty closed marginally down in a volatile session on July 11, 2024. File
| Photo Credit: PTI

Benchmark Sensex and Nifty closed marginally down in a volatile session on July 11 as investors booked profits in heavyweights ahead of the announcement of key financial results for the June quarter.

Retreating from early highs, the 30-share BSE Sensex closed lower by 27.43 points or 0.03% at 79,897.34. The index climbed 245.32 points to hit a high of 80,170.09 in early trade but later lost momentum due to selling in index heavyweights. The barometer hit a day’s low of 79,464.38, down by 460.39 points from the last close.

The NSE Nifty edged down 8.50 points or 0.03% to settle at 24,315.95. The broader index gyrated between a high of 24,402.65 and a low of 24,193.75 in day trade.

“The main indices are trading in a narrow range, struggling to justify its premium valuation ahead of the Q1 earnings season, which is forecast to be subdued,” Vinod Nair, Head of Research, Geojit Financial Services said.

Among Sensex shares, Bajaj Finance, Mahindra & Mahindra, Sun Pharma, Nestle, NTPC, Power Grid, NTPC, UltraTech Cement and Larsen & Toubro were the biggest laggards.

The prominent gainers were ITC, Tata Motors, Asian Paints and Titan.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled higher. European markets were trading in positive territory. U.S. markets ended significantly higher on Wednesday.

Foreign Institutional Investors (FIIs) bought equities worth ₹583.96 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.21% to $85.26 a barrel.

The BSE benchmark closed lower by 426.87 points or 0.53% at 79,924.77 on Wednesday. The NSE Nifty dropped 108.75 points or 0.45% to settle at 24,324.45.

Both the benchmark indices had hit their record high levels in opening deals on Wednesday.

The Sensex breached the historic 80,000 mark for the first time ever and the Nifty hit a fresh record peak of 24,292.15 on July 3, 2024.
| Photo Credit: PTI

Equity benchmark indices Sensex and Nifty ticked higher to close at fresh all-time high levels on July 4, 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% 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% 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 U.S. inflationary pressure, improvement in QoQ earnings outlook and a resultant sharp fall in the U.S. 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% and the midcap index climbed 0.60%.

Among the indices, healthcare soared by 1.17%, IT jumped by 1.12%, tech by 0.98 %, auto by 0.88% and telecommunication rose by 0.73%.

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

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.

U.S. 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% to $86.89 a barre.

Foreign Institutional Investors (FIIs) bought equities worth ₹5,483.63 crore on Wednesday, according to exchange data HG MR

In a significant milestone for the Indian stock market, the BSE’s Sensex surpassed the 80,000 mark during intra-day trades on Wednesday, July 3. The milestone comes after the index gained the last 10,000 points in nearly seven months or 139 trading sessions, after it first reached the 70,000 points mark on December 11, 2023. This is also the fastest 10,000 rally for the BSE Sensex.

The broader Nifty 50 index also experienced a significant rise, adding 162.65 points or 0.67 per cent to close at an all-time high of 24,286.5.

The Sensex finally closed at 79,986.8 on Wednesday, up by  545.35 points or 0.69 per cent, following some correction from the peak of 80,074 during the session. The upward momentum continued on Thursday too with the index opening well above the 80,000 mark at around 80,300.

The surge in domestic indices was largely propelled by large-cap stocks, particularly in the financial sector. HDFC Bank shares saw a notable rise, driven by an expected increase in its weight in the MSCI Emerging Markets Index following the MSCI’s August review.

Additionally, gains in Reliance Industries shares and other banking stocks contributed to the overall positive sentiment in the market.

The Sensex, which was launched in January 1986, has a history of reaching significant milestones. It crossed the 10,000 level during intraday deals on February 6, 2006, reached 20,000 on November 5, 2007, and achieved the 40,000 mark on July 5, 2019. The journey from 40,000 to 80,000 took just five years, highlighting the growth of the Indian stock market.

The recent rally can be attributed to several factors, including expectations of continuity in government policies, a higher economic growth forecast, and robust domestic fund buying. These elements have combined to create a bullish fervour among investors, pushing the indices to new heights.

Supportive global data and the progress of the monsoon in the country have boosted investor confidence, leading to the Sensex opening more than 300 points higher on Thursday.

As the market continues to respond to these positive signals, investors are closely watching for further developments that could sustain this upward momentum.

Amid the ongoing surge in Indian equity markets, financial experts are advising mutual fund investors to exercise caution and avoid making substantial investments in the riskier segments of the market.

All the 30 Sensex companies were trading in the green. Power Grid, NTPC, State Bank of India, Larsen & Toubro, Mahindra & Mahindra, IndusInd Bank and Axis Bank were the biggest gainers from the Sensex pack.
| Photo Credit: Reuters

Investors’ wealth jumped ₹12.48 lakh crore in morning trade on June 3 as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls.

The 30-share BSE Sensex jumped 2,777.58 points or 3.75% to hit a record peak of 76,738.89 in early trade.

Also read | GDP growth surges to 8.2% on manufacturing gains

Following the huge rally in equities, the market capitalisation of BSE-listed companies climbed ₹12,48,952.68 crore to hit an all-time peak of ₹4,24,61,833.82 crore ($5.10 trillion) during the morning trade.

Exit polls on June 1 predicted that Prime Minister Narendra Modi will retain power for a third straight term, with the BJP-led NDA expected to win a big majority in the Lok Sabha polls. The counting of votes will take place on June 4.

“The exit poll numbers are very strong for the incumbent government,” Narendra Solanki, Head Fundamental Research – Investment Services, Anand Rathi Shares and Stock Brokers, said.

“Overall it’s positive for the markets in short as well as long term. Also, the recent released good GDP growth data should provide support to existing positive momentum,” he added.

India’s economy grew by 8.2% in the fiscal year that ended in March, cementing the country’s position as the fastest-growing major economy in the world.

“The GDP numbers which came on Friday were better-than-expected with 8.2% growth. This will provide fundamental support to the market,” said V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Also read | How do markets look at election results?

All the 30 Sensex companies were trading in the green. Power Grid, NTPC, State Bank of India, Larsen & Toubro, Mahindra & Mahindra, IndusInd Bank and Axis Bank were the biggest gainers from the Sensex pack.

In Asian markets, Seoul, Tokyo and Hong Kong were quoting with gains while Shanghai traded lower. The U.S. markets ended mostly higher on May 31. Foreign Institutional Investors (FIIs) bought equities worth ₹1,613.24 crore on Friday, according to exchange data.

The 30-share BSE Sensex climbed 269.28 points to an all-time peak of 75,679.67 in early trade on May 27, 2024. File
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty hit their new all-time peaks in early trade on May 27 in tandem with a rally in global markets and optimistic investors’ sentiment days ahead of the results of the Lok Sabha polls announcement.

The 30-share BSE Sensex climbed 269.28 points to an all-time peak of 75,679.67 in early trade. The NSE Nifty went up by 86.1 points to hit a new lifetime high of 23,043.20.

From the Sensex firms, Tata Steel, Bharti Airtel, JSW Steel, Kotak Mahindra Bank, Sun Pharma, Axis Bank and HDFC Bank were among the major gainers.

Wipro, Mahindra & Mahindra, Maruti and Asian Paints were among the laggards.

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

Wall Street ended with gains on Friday.

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

Global oil benchmark Brent crude climbed 0.21% to $82.29 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹944.83 crore on Friday, according to exchange data.

The BSE benchmark dipped 7.65 points or 0.01% to settle at 75,410.39 on Friday. The Nifty breached the 23,000 mark for the first time on Friday. It, however, pared all the gains and ended with a marginal decline of 10.55 points or 0.05% at 22,957.10.

The S&P BSE Sensex shed 0.62% to 72,943.68, extending losses to a third straight session. File
| Photo Credit: PTI

India’s currency, debt and equity markets will be closed on Wednesday, April 17, for Ram Navami. Trading will resume on Thursday, April 18.

The blue-chip NSE Nifty 50 fell 0.56% to 22,147.90 while the S&P BSE Sensex shed 0.62% to 72,943.68, extending losses to a third straight session as receding bets of early U.S. rate cuts and worries over the conflict in the Middle East weighed.

The Indian rupee weakened 0.10% versus the U.S. dollar to a record closing low of 83.5350, weighed down by a selloff in risky assets.

The benchmark 10-year bond was quoted at 99.95 rupees, with the yield up 1 bps at 7.1860%, amid heightened tensions in the Middle East and worries over the U.S. interest rate outlook.

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.

A man walks near the bronze statue of a bull outside the BSE in Mumbai. File
| Photo Credit: AP

The domestic stock markets climbed in early trade on September 28 but later gave up all the early gains to trade lower amid muted global trends and continuous foreign fund outflows.

The monthly derivatives expiry also added to the volatile trends in the markets.

The 30-share BSE Sensex climbed 287.32 points to 66,406.01 in early deals. The Nifty advanced 50.2 points to 19,766.65.

However, both the benchmark indices failed to carry forward the winning momentum and traded in the negative territory later. The 30-share BSE benchmark traded 64.71 points lower at 66,053.98 and the Nifty quoted 14.20 points down at 19,702.25.

Among the Sensex firms, Larsen & Toubro, JSW Steel, Axis Bank, Tata Steel, Sun Pharma and State Bank of India were the biggest gainers.

Tech Mahindra, Asian Paints, Hindustan Unilever, Bajaj Finance, ITC and Kotak Mahindra Bank were the major laggards.

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

The U.S. markets ended on a mixed note on September 27.

“Even though the market is showing resilience, the undercurrent is weak. The dollar index at 106.59, the U.S. 10-year bond yield at 4.62% and Brent crude above $97 are strong headwinds that can pull the market down,” V.K. Vijayakumar, chief investment strategist at Geojit Financial Services, said.

Global oil benchmark Brent crude climbed 0.71% to $97.24 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹354.35 crore on September 27, according to exchange data.

“The rising U.S. bond yields on the back of the firm dollar index has resulted in foreign fund outflows in the month so far. However, India’s structural growth and key indicators would mean that investors cannot be bearish on local markets for long,” Prashanth Tapse, senior VP (Research) at Mehta Equities Ltd., said.

The BSE benchmark had climbed 173.22 points or 0.26% to settle at 66,118.69 on September 27. The Nifty gained 51.75 points or 0.26% to end at 19,716.45.