L&T, ONGC and banking scrips power gains in today's trade
ITC was the biggest gainer in the Sensex pack, rising nearly 3 per cent, followed by Kotak Mahindra Bank, ICICI Bank, Maruti, Bharti Airtel, State Bank of India, Sun Pharmaceutical Industries, Axis Bank, Reliance Industries, Hindustan Unilever and JSW Steel. On the other hand, Infosys, UltraTech Cement, HCL Technologies, Bajaj Finserv, Larsen & Toubro, Titan, Tata Consultancy Services and Wipro were the laggards.
Sensex climbs higher on favourable global cues.
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The 30 Sensex companies alone, which are among the biggest companies in the country, now account for nearly 50% or about Rs 47 lakh crore of total investor wealth.
Markets shrugged off RBI's neutral stance on key policy rates.
Investors booked profits at higher levels after the Sensex and Nifty hit all-time highs in the previous session.
The 30-share Sensex ended up 1 point at 27,459 and the 50-share Nifty ended down 1 point at 8,341.
Technical rallies and short covering may arise only if the markets break this 500 point band
Markets ended in green on rate cut hope.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by L&T, Bharti AIrtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries. NSE Nifty rallied 164.70 points to its fresh closing peak of 16,529.10.
The rupee rose by 12 paise to close at 79.78 against the US dollar on Monday due to a weak dollar in overseas markets and an improved appetite for riskier assets. Stronger regional currencies also supported the rupee sentiment ahead of the US Fed policy decision on Wednesday. Weak domestic equities and FII outflows, however, capped sharp gains. At the inter-bank forex market, the local unit opened at 79.86 against the greenback and moved in a range of 79.70 to 79.87 in the day trade.
Investors booked profits at higher levels with oil shares leading the decline
Domestic equity gauges Sensex and Nifty extended their losing run for the third session in a row on Friday as participants remained cautious tracking other Asian markets amid geopolitical uncertainties in eastern Europe. After swinging about 700 points between gains and losses during the session, the BSE Sensex finally closed 59.04 points or 0.10 per cent lower at 57,832.97. On similar lines, the NSE Nifty edged lower by 28.30 points or 0.16 per cent to settle at 17,276.30.
In the case of Indian equities specifically, all eyes will now be on the next RBI monetary policy scheduled for September 29.
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 29,008 and 8,767 respectively.
Markets ended lower on Tuesday, snapping a two-day winning streak, as investors turned cautious and booked profit in financials.
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The Survey shows fiscal consolidation despite slowdown in growth.
Earning woes drag markets lower; TCS, HUL lead fall.
Benchmark share indices ended lower for the third straight session as investors turned cautious amid tensions in Iraq even as consumer durables shares stole the limelight tracking rally in gold prices.
Equity indices gave up early gains to close in the red for the third session on the trot on Wednesday, weighed by selling in banking and finance counters amid inflationary pressures and persistent foreign fund outflows. A weak rupee and lacklustre global cues also kept buying sentiment in check, traders said. The 30-share BSE Sensex opened on a firm footing but failed to hold on the momentum, finishing 237.44 points or 0.41 per cent lower at 58,338.93. On similar lines, the broader NSE Nifty dipped 54.65 points or 0.31 per cent to close at 17,475.65.
The year 2014 has been one of the best for investors in the equity markets.
Pharma shares were the top gainers led by Lupin after the company received EIR from USFDA for its Goa facility
Mostly from the real estate and power sectors, these 25 IPOs were together estimated to raise about Rs 31,000 crore.
Stock markets may soon witness a huge capital inflow from the domestic mutual funds, who are waiting for the right investment opportunity with a cash pile of over Rs 8,000 crore (Rs 80 billion).
The 30-share Sensex ended higher by 46 points at 26,360 and the 50-share Nifty gained 16 points at 7,891.
Benchmark indices finished higher on hopes of economic reforms
On the sectoral front, rate-sensitive sectors such as Bankex and Auto gained by 1% and 0.7% respectively while BSE Consumer Durables gained 1.4%.
Tuesday's top gainers included SBI, UltraTech Cement, HDFC Bank, L&T, Bharti Airtel, Maruti Suzuki and Kotak Bank.
However, in the last few sessions, the stock of Mukesh Ambani-controlled Reliance Industries Limited (RIL), hit its 52-week low level of Rs 2269.75, and has been one of the worst performers among the Sensex pack thus far in calendar year 2023 (CY23). Thus far in CY23, RIL has tanked nearly 11 per cent as compared to a fall of around 5 per cent in the S&P BSE Sensex. The fall in the stock, according to Gaurang Shah, senior vice-president at Geojit Financial Services is mostly due to the overall dip in the market sentiment, which in turn has impacted large-caps, including RIL.
The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
ONGC was the top loser in the Sensex pack, shedding 4 per cent, followed by Bharti Airtel, SBI, IndusInd Bank, NTPC, Sun Pharma and ITC. On the other hand, Bajaj Finance, Bajaj Auto, Reliance, Bajaj Finserv and Asian Paints were among the gainers.
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
The benchmark Sensex on Thursday slipped below the 25,000-level by tanking about 555 points.
Movement of rupee and crude oil prices will also dictate the trend
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
Lower crude oil prices and a rally in domestic equities restricted the losses to some extent, forex dealers said. At the interbank foreign exchange market, the domestic currency opened weak at 79.50 per dollar.
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
Despite gold prices hitting record highs, analysts aren't gung-ho about the outlook for gold financiers Muthoot Finance and Manappuram Finance. This, they said, was due to intense competition from banks, coupled with stagnating loan books and likely pressure on margins.
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