It won't be an easy ride for the markets, reckon experts, considering the multiple state elections in 2018 and general elections next year.
Rate-sensitive sectors like banks, auto and realty witnessed strong buying demand in trades today
Gold is seen as a preferred asset for all types of investors, even central banks.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
Led by the weak trend in the broader market, the market capitalisation of BSE-listed companies plunged Rs 1,65,437.91 crore to Rs 1,38,54,439.41 crore.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
Top gainers in the Sensex pack included Tata Steel, Vedanta, SBI, Tech Mahindra, Bajaj Finance, Asian Paints, M&M, NTPC and PowerGrid, rising up to 3.95 per cent.
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
Budget is widely seen as a test of Prime Minister Narendra Modi.
On the Sensex chart, losses were mainly driven by Hero MotoCorp, Tata Motors, Axis Bank, Tata Steel, Maruti and SBI -- falling as much as 6.19 per cent.
Top gainers in the Sensex pack included Vedanta, Coal India, ICICI Bank, PowerGrid, HCL Tech and Bajaj Finance, rising up to 2.65 per cent.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
Jhunjhunwala increases stake in DHFL, luggage maker VIP Industries and pharma major Lupin but is cautious on auto holding. At the end of the March quarter, Jhunjhunwala held positions in 29 firms.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
Losers included Bharti Airtel, SBI, Wipro, Vedanta, Maruti Suzuki, ICICI Bank, Axis Bank and Reliance Industries, falling up to 2.18 per cent.
The NSE 50-share index, after moving between 10,469.90 and 10,395.25, finally concluded at 10,458.65, up 41.50 points
The BSE Sensex spurted 130.00 points to end at 35,980.93, while the broader NSE Nifty advanced 30.35 points to 10,802.15.
The market breadth, indicating the overall health of the market, was positive
Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
Nifty PSU bank index dropped nearly 2%
Market breadth turned negative with 1,779 declines over 884 advances on the BSE
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
BSE Smallcap index outperformed the frontline indices to rise 0.6%, while the BSE Midcap was flat
BSE Metal and Capital Goods indices plunged over 2% followed by counters like Consumer Durables, Auto, Banks and Realty, all falling down between 1-2%.
The government is scheduled to release index of industrial growth for November and consumer price inflation for December later today.
Investors will keenly watch out for the Futures & Options expiry for July on Thursday
In the past four months, $7.5 billion has flowed back into domestic stocks, helping the benchmark indices bounce back more than 40 per cent from their 2020 lows.
In the global markets, the US dollar traded lower in early trade after former US Treasury Secretary Larry Summers withdrew himself from the race to be the next Federal Reserve chairman.
We have not suffered such huge price shocks across so many basic commodities, at the same time, in decades. Has the inflationary impact of all this been factored into stock prices as yet, asks Debashis Basu.
The 30-share Sensex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633.
The 30-share Sensex ended lower by 61 points at 29,122 mark and the 50-share Nifty slipped by 12 points to close at 8,797.
One culprit behind the poor recent performance of emerging markets is growing bond market volatility and the knock-on effect that that may be having on so-called carry trades, under which investors borrow money cheaply in one currency and then invest it for what they hope will be higher returns elsewhere.
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
Rate sensitive sectors rallied the most led by banks while metals surged on rebound in commodity prices
A widening probe by US authorities involving top drug companies following complaints of price fixing of generics was a point of worry for the participants, said analysts.
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