The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai. File
| Photo Credit: REUTERS

Benchmark equity indices Sensex and Nifty declined nearly 1% on Thursday, continuing their falling streak for the fifth day running due to profit booking amid monthly expiry in the derivatives segment.

The 30-share BSE Sensex plunged by 617.30 points or 0.83% to settle at 73,885.60. The barometer hit the day’s low of 73,668.73 due to selling in blue-chips.

The NSE Nifty dropped by 216.05 points or 0.95% to close at 22,488.65.

Benchmark indices closed at lifetime high levels on May 23 which triggered profit-taking amid growing nervousness among investors ahead of the results of the Lok Sabha polls on June 4. Since then, Nifty and Sensex have declined around 2% in the five straight sessions.

“The benchmark index is taking cues from the U.S. market as treasury yields continue to climb following the stickiness of global inflation, delaying the central bank’s interest rates cut policy,” Vinod Nair, Head of Research at Geojit Financial Services, said.

From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards.

ICICI Bank, Axis Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank were the gainers.

“Meanwhile, the broader market continued the weak trend, led by profit booking, due to feeble closing of monthly expiry owing to lack of interest to hold short-term positions, as exit poll is slated in the weekend,” Mr. Nair said.

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

European markets were trading with gains, while U.S. markets ended in the negative territory on Wednesday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,841.84 crore on Wednesday, according to exchange data.

The last phase of polling is scheduled for June 1. The results of the ongoing general elections will be declared on June 4.

Global oil benchmark Brent Crude fell 0.41% to $83.19 a barrel.

On Wednesday, the 30-share BSE Sensex declined 667.55 points or 0.89% to settle at 74,502.90. The NSE Nifty dropped 183.45 points or 0.80% to close at 22,704.70.

An employee of a stock trading firm looking at share prices. File
| Photo Credit: Vivek Bendre

Equity benchmark Sensex plummeted over 700 points to sink below the 74,000 level and Nifty retreated from a record high on Friday as investors pared exposure to telecom, capital goods and tech stocks.

Heavy selling pressure in Reliance Industries, L&T and HDFC bank counters also pulled indices down, traders said.

The 30-share BSE Sensex dropped 732.96 points or 0.98% to settle at 73,878.15 after soaring 484.07 points earlier in the day. From its intra-day high of 75,095.18, the benchmark tanked 1,627.45 points to the day’s low of 73,467.73.

The NSE Nifty also declined 172.35 points or 0.76% to 22,475.85. The benchmark hit a record 22,794.70 in the early trade, up 146.5 points or 0.64%.

From the Sensex basket, Larsen & Toubro, Maruti, Reliance Industries, Nestle, Bharti Airtel, UltraTech Cement, Kotak Mahindra Bank and JSW Steel were among the major laggards.

Bajaj Finance climbed nearly 1% higher. The Reserve Bank of India (RBI) has lifted restrictions on Bajaj Finance on sanctioning and disbursal of loans through eCOM and Insta EMI Card, the company said in a regulatory filing on Thursday.

In November last year, the central bank directed Bajaj Finance to stop sanction and disbursal of loans under its two lending products – eCOM and Insta EMI Card – due to the company’s non-adherence to the extant provisions of digital lending guidelines.

Bajaj Finserv, Mahindra & Mahindra, State Bank of India, ICICI Bank and Infosys were among the other gainers.

“Profit-booking and a degree of caution ahead of the release of the US non-farm payroll resulted in selling pressure in the market. However, the absence of significant negative surprises in Q4 earnings thus far, along with a decline in oil prices, might help to mitigate the downside.”

“Though the correction was broad-based, the large-cap stock was the key underperformer due to the moderation of FII’s exposure to the domestic market,” said Vinod Nair, Head of Research, Geojit Financial Services.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹964.47 crore on Thursday, according to exchange data.

In Asian markets, Hong Kong settled in the positive territory, while Seoul ended lower. Markets in Tokyo and Shanghai were closed for the holidays.

European markets were trading in the green. Wall Street ended with gains on Thursday.

Global oil benchmark Brent crude declined 0.06% to $83.62 a barrel.

On Thursday, the BSE benchmark climbed 128.33 points or 0.17% to settle at 74,611.11. The NSE Nifty went up by 43.35 points or 0.19% to 22,648.20.

A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. File
| Photo Credit: REUTERS

Rising for the fifth straight session, equity benchmark Sensex rallied nearly 500 points to reclaim the 74,000 mark while the Nifty closed above the 22,550 level on April 25, driven by heavy buying in banking, financial and metal stocks.

Recovering after a sell-off in early trade, the 30-share BSE Sensex climbed 486.50 points or 0.66% to settle at 74,339.44. During the day, it surged 718.31 points or 0.97% to 74,571.25.

The NSE Nifty advanced 167.95 points or 0.75% to 22,570.35.

From the Sensex basket, Axis Bank jumped 6% after the company reported a consolidated net profit of ₹7,599 crore during the March 2024 quarter.

State Bank of India, NTPC, Nestle, Sun Pharma, JSW Steel, ITC, Mahindra & Mahindra and HCL Technologies were among the other major gainers.

Kotak Mahindra Bank tanked 10.85% after the RBI barred the company from onboarding customers online and issuing credit cards.

Cracking down on repeated non-compliance with IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found “serious deficiencies” in the lender’s IT risk management.

Hindustan Unilever, Titan, Bajaj Finance, Maruti and Asian Paints were the other laggards.

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

European markets were trading on a mixed note. Wall Street ended on a mixed note on April 24.

Global oil benchmark Brent crude climbed 0.06% to $88.07 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,511.74 crore on April 24, according to exchange data.

The BSE benchmark rose 114.49 points or 0.16% to settle at 73,852.94 on April 24. The NSE Nifty advanced 34.40 points or 0.15% to 22,402.40.

Bombay Stock Exchange on Dalal Street. File
| Photo Credit: Vivek Bendre

Benchmark equity indices Sensex and Nifty rebounded nearly 1% on Thursday after a two-day decline, following a rally in global markets amid the U.S. Federal Reserve keeping rates unchanged.

The 30-share BSE Sensex jumped 489.57 points or 0.77% to settle at 64,080.90. During the day, it rallied 611.31 points or 0.96% to 64,202.64.

The Nifty climbed 144.10 points or 0.76% to 19,133.25.

Among the Sensex firms, IndusInd Bank, Tata Steel, Tata Motors, Sun Pharma, Infosys, Mahindra & Mahindra, Infosys, NTPC, Bharti Airtel, HCL Technologies and Axis Bank were the biggest gainers.

Tech Mahindra and Bajaj Finance were the laggards.

“A pause with dovish commentary from the Fed led to a rebound in the global and domestic market sentiment. Further, the fall in U.S. bond yields indicates a prolonged pause in interest rate hikes,” Vinod Nair, Head of Research at Geojit Financial Services said.

“Domestic macros are favourable with positive auto numbers, a surge in GST collection, good factory data and better than estimated Q2 quarter earnings,” Mr. Nair added.

In Asian markets, Seoul, Tokyo and Hong Kong ended in the green while Shanghai settled lower. European markets were trading in positive territory. The U.S. markets ended with gains on Wednesday.

Global oil benchmark Brent crude jumped 1.67% to $86.12 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth ₹1,816.91 crore on Wednesday, according to exchange data.

The BSE benchmark declined 283.60 points or 0.44% to settle at 63,591.33 on Wednesday. The Nifty went down by 90.45 points or 0.47 to 18,989.15.

Benchmark BSE Sensex rallied further 333 points to extend its winning run to a sixth straight session on Friday driven by buying in index heavyweights HDFC Bank, Larsen & Toubro and Reliance Industries.

Shrugging off weak global market trends, the BSE Sensex jumped 333.35 points or 0.50% to close at 66,598.91. During the day, it climbed 501.36 points or 0.75% to 66,766.92.

The broader Nifty advanced 92.90 points or 0.47% to settle at 19,819.95, rising for a sixth session in a row.

Nifty has gained 473 points or three3% in the six trading sessions while Sensex rallied 1,434 points or 2.41%.

From the Sensex pack, NTPC, Tata Motors, Larsen & Toubro, Bajaj Finserv, Bharti Airtel, HDFC Bank, Reliance Industries, Titan, Power Grid and State Bank of India were the major gainers.

ITC, UltraTech Cement, Tech Mahindra, Tata Steel, Wipro, Tata Consultancy Services and JSW Steel were among the laggards.

“Benchmark indices ended the week just a few percentage points away from record highs ahead of the G20 Summit buoyed by good support from the Bank Nifty as well as the PSU & Infrastructure stocks,” S. Ranganathan, Head of Research at LKP securities.

Despite a deficient monsoon, the mood in the market was optimistic as PSU stocks across sectors exhibited positive investor appetite, Mr. Ranganathan said.

Baning shares gained after the RBI announced a phased withdrawal of the incremental CRR which was imposed to absorb surplus liquidity following the withdrawal of ₹2,000 currency notes.

Vinod Nair, Head of Research at Geojit Financial Services said that global markets stumbled as they processed August’s jobless claims data from the U.S. and the rise in gas prices due to strikes in Australia, rekindling further slowdown.

“The domestic market, however, showcased its resilience once more by rallying, seemingly unfazed by global distress signals.”

“Although selling was seen in IT and pharma stocks due to weak global cues, the gains in infra, industrial, and capital goods stocks due to improved order inflows coupled with the persistent preference for mid- and small-cap stocks contributed to the ongoing rally,” Mr. Nair said.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the negative territory. European markets were trading lower. The U.S. markets ended on a mixed note on Thursday.

Global oil benchmark Brent crude climbed 0.07% to $89.98 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹758.55 crore on Thursday, according to exchange data.

The BSE benchmark ended with a gain of 385.04 points or 0.58% at 66,265.56 on Thursday. The Nifty advanced 116 points or 0.59% to settle at 19,727.05.

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

Equity benchmark indices ended in the positive territory on Wednesday on buying in HDFC Bank and a largely firm trend in Asian markets.

Fag-end buying helped the BSE Sensex climb 100.26 points or 0.15% to settle at 65,880.52. During the day, it had declined 292.23 points or 0.44% to 65,488.03.

The Nifty advanced 36.15 points or 0.18% to end at 19,611.05.

From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, ITC, UltraTech Cement, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers.

Tata Steel, Axis Bank, IndusInd Bank, NTPC and ICICI Bank were the major laggards.

In Asian markets, Tokyo, Shanghai and Hong Kong ended in the green while Seoul settled lower.

European equity markets were trading lower. The U.S. markets ended in the negative territory on Tuesday.

Global oil benchmark Brent crude declined 0.70% to $89.41 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,725.11 crore on Tuesday, according to exchange data.

The BSE benchmark had climbed 152.12 points or 0.23% to settle at 65,780.26 on Tuesday. The Nifty advanced 46.10 points or 0.24% to end at 19,574.90.

Equity benchmark indices Sensex and Nifty closed higher for the third straight day on Tuesday on gains in market heavyweights ITC, Reliance Industries and Infosys amid a bearish trend in global equities.

Besides, robust domestic macroeconomic data added to the positive momentum, traders said.

The BSE benchmark index climbed 152.12 points or 0.23% to settle at 65,780.26. During the day, it gained 203.56 points or 0.31% to 65,831.70.

The Nifty rose 46.10 points or 0.24% to end at 19,574.90.

“Strong domestic factors are providing crucial support for Indian equities, allowing them to maintain their strength despite attempts by weak global peers to disrupt the mood. India’s service PMI remains robust at 60.1, indicating sustained demand even in the face of inflationary pressures.

“Notably, small and mid-cap stocks have been standout performers, with both indices reaching all-time highs. Conversely, the weak Chinese service PMI has cast a shadow on hopes of an economic rebound in China, impacting global market sentiments,” said Vinod Nair, Head of Research at Geojit Financial Services.

Sun Pharma emerged as the biggest gainer from the Sensex pack, climbing 2.09%, followed by ITC, Titan, Bajaj Finance, Nestle, Infosys, L&T, JSW Steel, Reliance Industries and Kotak Mahindra Bank.

UltraTech Cement, Maruti, HDFC Bank, Wipro, State Bank of India and NTPC were among the laggards.

“Markets held on to gains for the 3rd straight day but strong follow-through buying was, however, missing albeit lack of positive Asian cues. The positive takeaway was that the benchmark Nifty stuck to gains as Nifty Mid-cap and Small-cap indices continued to scale fresh all-time highs.

“The risk mood has improved after Friday’s softer than expected US August payrolls report which suggests that September rate hike is off the table,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

In the broader market, the BSE midcap jumped 1.09%, and smallcap gained 0.61%.

Sectorally, healthcare rallied 1.29%, realty climbed 1.08%, energy (1.01%), consumer durables (0.90%), oil & gas (0.83%) and services (0.72%).

Financial Services, telecommunication and bankex were the laggards.

“Global equities mostly fell on Tuesday as higher Treasury yields weighed on growth stocks, while a slow pace of expansion in services activity in China (8-month low) stoked worries over demand in the world’s second-largest economy,” Deepak Jasani, Head of Retail Research, HDFC Securities, said.

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

European markets were trading on a mixed note in early deals. The U.S. markets were closed on Monday.

“While markets extended gains for the third straight session, the mood was more or less range-bound with a positive bias as U.S. markets were shut on Monday and investors preferred to take selective bets. One needs to be watchful about the sharp volatility in the rupee, which could impact FII flows going ahead,” Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd, said.

The rupee plunged by 35 paise to close at 83.06 (provisional) against the U.S. dollar on Tuesday, amid a strong American currency and higher crude oil prices.

According to a survey, manufacturing activities in India gained momentum in August.

Meanwhile, GST collections grew by 11% to over ₹1.59 lakh crore, and domestic passenger vehicle sales hit a record in August.

Global oil benchmark Brent crude declined 0.62% to $88.45 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,367.67 crore on Monday, according to exchange data.

The BSE benchmark had climbed 240.98 points or 0.37% to settle at 65,628.14 on Monday. The Nifty advanced 93.50 points or 0.48% to close at 19,528.80.

“We expect the broader market participation to continue to outperform and sector rotation is helping Nifty to stay elevated. On the upside we expect the Nifty to target levels of 19650. In terms of levels, 19490 – 19470 shall act as a crucial support and 19650 – 19700 shall act as an immediate hurdle,” Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas, said.

File.
| Photo Credit: Vivek Bendre

Benchmark equity indices Sensex and Nifty rallied for the second straight session on September 4 following encouraging domestic macroeconomic data amid a firm trend in global markets.

Fresh foreign fund inflows and intense buying in IT and commodity stocks also bolstered sentiment, traders said.

The BSE benchmark Sensex climbed 240.98 points or 0.37% to settle at 65,628.14. During the day, it jumped 296.75 points or 0.45% to 65,683.91.

The Nifty rose 93.50 points or 0.48% to end at 19,528.80.

Wipro was the biggest gainer in the Sensex pack, rising 4.34%, followed by HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India.

Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were among the laggards.

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

European markets were trading in the green in early deals. The U.S. markets ended mostly in the positive territory on Friday.

Manufacturing activities in India gained momentum in August as new orders and output increased at the quickest rates in nearly three years, according to a survey released on Friday.

GST collections grew by 11% to over ₹1.59 lakh crore in August on the back of improved compliance and reduced evasion, with experts forecasting higher mop-up to continue in the upcoming festive season.

Domestic passenger vehicle sales hit a record in August, led by highest-ever monthly dispatches from Maruti Suzuki on the back of festive demand and the continued strong offtake of SUVs.

Global oil benchmark Brent crude climbed 0.09% to $88.64 a barrel.

Foreign Institutional Investors (FIIs) were buyers on Friday as they bought equities worth ₹487.94 crore, according to exchange data.

The BSE barometer had on Friday ended higher by 555.75 points or 0.86% at 65,387.16. The Nifty had spurted by 181.50 points or 0.94% to settle at 19,435.30.

Bombay Stock Exchange in Mumbai. File
| Photo Credit: Vivek Bendre

Benchmark Sensex declined by 365 points and Nifty settled below the 19,300 level in a volatile trade on Friday as financials, IT and oil shares took a hit amid concerns over potential rate hikes and weak trend in global markets.

Falling for a second day in a row, the BSE Sensex closed lower by 365.83 points or 0.56% at 64,886.51. During the day, it dropped 519.77 points or 0.79% to 64,732.57.

The NSE Nifty declined by 120.90 points or 0.62% to end at 19,265.80.

From the Sensex pack, Larsen & Toubro, JSW Steel, IndusInd Bank, Power Grid, ITC, Mahindra & Mahindra, NTPC, HDFC Bank, ITC, Reliance Industries and Tata Motors were among the major laggards.

Bajaj Finserv, Asian Paints Bajaj Finance, Bharti Airtel and Axis Bank were among the gainers.

“Investor caution is evident globally, as concerns about potential rate hikes dominate the prevailing sentiment ahead of the Jackson Hole meeting. Furthermore, the minutes from the RBI MPC meeting reiterated their dedication to managing inflation within the target range, given the elevated domestic inflation levels,” said Vinod Nair, Head of Research at Geojit Financial Services.

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

European markets were trading in the green. The U.S. markets ended lower on Thursday.

Global oil benchmark Brent crude climbed 1.25% to $84.40 a barrel.

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

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

Benchmark equity indices Sensex and Nifty declined for a second straight day on Friday due to losses in HDFC Bank and ICICI Bank and a negative trend in Asian and European markets.

The trend in the domestic market remained weak post the RBI monetary policy and the unexpected announcement of reducing cash in the banking system.

The 30-share BSE Sensex fell by 365.53 points or 0.56% to settle at 65,322.65. During the day, it tanked 413.57 points or 0.62% to 65,274.61.

The NSE Nifty declined by 114.80 points or 0.59% to end at 19,428.30.

From the Sensex pack, IndusInd Bank, NTPC, Asian Paints, Hindustan Unilever, JSW Steel, Tech Mahindra, Bajaj Finance, Infosys, Wipro, ICICI Bank, Bajaj Finserv, HDFC Bank and Tata Motors were among the major laggards.

HCL Technologies, Power Grid, Titan, Reliance Industries, UltraTech Cement, Tata Steel, State Bank of India and Mahindra & Mahindra were the gainers.

“The domestic market continued to experience selling pressure, with banking stocks extending their decline in reaction to the RBI’s liquidity absorption measures,” said Vinod Nair, Head of Research at Geojit Financial Services.

“The escalating concerns about inflation further weighed on domestic market sentiments. Despite the U.S. CPI coming in lower-than-expected and the UK GDP beating estimates, global sentiment remained unfavourable,” Nair added.

The Reserve Bank of India (RBI) on Thursday left its key interest rates unchanged for a third straight meeting but signalled tighter policy if food prices continue to drive inflation higher.

The hawkish stance was also reinforced by the unexpected announcement of reducing the cash in the banking system by raising the incremental cash reserve ratio (I-CRR) to 10% on the incremental NDTL (net demand and time liabilities) over the last three months.

This will help in absorbing a large part of the excess liquidity created through the return of the ₹2,000 notes and the large dividend to the government from RBI.

In Asian markets, Seoul, Shanghai and Hong Kong ended lower.

European markets were trading in negative territory. The US markets ended with gains on Thursday.

Foreign institutional investors (FIIs) were buyers on Thursday as they bought equities worth ₹331.22 crore, according to exchange data.

Global oil benchmark Brent crude declined 0.57% to $$85.91 a barrel.

The BSE benchmark fell 307.63 points or 0.47% to settle at 65,688.18 on Thursday. The Nifty declined 89.45 points or 0.46% to end at 19,543.10.