An appreciating rupee, sustained buying by domestic institutional investors, fresh foreign capital inflows and encouraging start to the earnings season contributed to the uptrend
The NSE 50-share index finally concluded at 10,417.15, up 14.90 points
'It is unlikely that foreign portfolio investors (FPIs) might increase their India allocation, given the overweight status for most FPIs.' 'Given the commentary from the Republican Party, an anti-imports approach means money will not flow out of the US.'
The 50-share NSE Nifty stayed in the green for the most of the session and hit a high of 10,397.70, before closing at 10,379.35
An appreciating rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend
Indian equities are no longer cheap vis-a-vis global markets, and only a short distance away from being the most expensive they have ever been.
The 50-share NSE Nifty slipped below the 10,700-mark and finished at 10,679.65 -- down 38.40 points, or 0.36 per cent.
FIIs are looking at the long-term story and initiatives of Indian pharma companies to transform themselves into global entities.
'Sebi has to make sure that investor interests are protected and at the same time, there isn't over-regulation so that companies don't get discouraged to list here.'
A first in 7 years, the combined institutional investor flow stands at Rs 69,000 crore in 2016-17
The wider NSE Nifty too fell by 20.15 points or 0.19 per cent to end at 10,749.75.
The NSE index Nifty ended above the 10,500-mark.
The broader NSE Nifty managed to end higher for the second day at 10,426.85, up by 5.45 points or 0.05 per cent after shuttling between 10,478.60 and 10,377.85, intra-day.
The broader NSE Nifty, in a volatile session, recaptured the key 11,300-mark. It ended at 11,369.90, up 82.40 points or 0.73 per cent.
Top losers include ONGC, SBI, PowerGrid, L&T, Yes Bank, Asian Paints, Bajaj Finance, Maruti and NTPC, falling up to 2.84 per cent. On the other hand, gainers include Tata Motors, TCS, HDFC, HCL Tech, Infosys, ITC, HDFC Bank and HUL, rising up to 2.18 per cent.
Trading such scenarios takes discipline.
Thinning valuation gap between these and mid-caps indicates a shift in investors' preferences.
The 50-share NSE Nifty after moving between 10,374.30 and 10,307.30 settled flat at 10,348.75, up 6.45 points, or 0.06 per cent.
Foreign institutional investors (FIIs), which were the major sellers last month, are on a buying spree.
Mutual funds (MFs) are set to be net sellers of Indian equities for the first time in the past seven financial years, having sold stocks worth about Rs 1.27 trillion so far in 2020-21 (FY21), making it the highest net sales on record in a financial year. MFs had been net buyers in the previous six financial years, including purchases of over Rs 1.41 trillion in FY18, Rs 88,152 crore in FY19, and Rs 91,814 crore in FY20. The last time they offloaded Indian equities was in FY14, when they net sold stocks worth Rs 21,159 crore. In contrast, foreign portfolio investors (FPIs) have ramped up buying in FY21, purchasing more than Rs 2.6 trillion worth of shares.
In the past few years, MFs have emerged as significant institutional buyers, often offsetting the selling by FPIs.
SBI was the biggest loser in the Sensex pack, tumbling 3.29 per cent, followed by Tata Steel, ICICI Bank and Maruti, which shed up to 2.76 per cent.
The BSE Sensex surged over 442 points to close at its life-time high of 38,694.11 and the broader NSE Nifty ended at a fresh record of 11,691.95, rising 134.85 points.
Bharti Airtel, Bajaj Finance, Bajaj Auto, Reliance Industries, Tata Motors, SBI, HUL, NTPC, ONGC, ITC and Asian Paints rose up to 2.19 per cent.
NTPC was the top gainer in the Sensex pack, rallying 3.44 per cent. Bharti Airtel, Bajaj Finance, TCS, HDFC twins, Yes Bank and RIL too gained up to 2.33 per cent.
In the Sensex pack, gainers included HCL Tech, SBI, ITC, Bharti Airtel, Sun Pharma, Yes Bank, Axis Bank, TCS, Asian Paints, ICICI Bank, TCS, Bajaj Finance and Infosys, jumping up to 3.84 per cent.
Yes Bank was the biggest gainer in the Sensex pack, climbing 4.08 per cent, followed by Tata Motors, ICICI Bank, Bajaj Auto, Coal India, Hero MotoCorp, HCL Tech, Vedanta, Sun Pharma, Axis Bank, Maruti, ITC, IndusInd Bank, TCS, HUL and SBI, rising up to 2.67 per cent.
The 50-share Nifty scaled a high of 10,227.30 intra-day but succumbed to profit-booking to finish at 10,155.25
Stretched valuations and slowdown in DII flows are some of the reasons why Goldman Sachs cut its India rating to 'market-weight'
The broad-based NSE Nifty, after shuttling between 10,296.70 and 10,211.90, finally ended 15.80 points, or 0.15 per cent down at 10,226.85.
Infrastructure, power, capital goods, PSU, healthcare, banking, oil and gas and metal stocks nosedived
HCL Tech and ONGC were the top gainers in the Sensex, rising up to 3.40 per cent.
Investor sentiment remained upbeat on narrowing trade deficit and sustained foreign fund inflows.
The 50-share NSE Nifty, however, was little changed, ending 1.20 points down
Technology stocks rallied, with the IT index up 2.45 per cent as TCS, Infosys, Wipro and HCL Technologies spurted following favourable rupee movement.
The NSE Nifty after regaining the 10,600-mark hit a high of 10,604.90 on the back of widespread gains, and finally concluded 72.25 points or 0.69 per cent higher at 10,584.75.
The NSE Nifty, after hitting a high of 10,758.55, closed at 10,717.80, up just 2.30 points, or 0.02 per cent.
Bajaj Finance was the biggest gainer in the Sensex pack, spurting 3.64 per cent. Tata Motors, Infosys, Vedanta, ONGC, PowerGrid, NPTC, Axis Bank, ICICI Bank, Kotak Bank, SBI, HDFC Bank, Tata Steel, TCS and RIL too rose up to 3.48 per cent.
Selling took hold at the start of October futures and options series in the derivatives segment as investors were concerned over the surging crude oil prices and escalating trade tensions between the US and China
The Sensex was mainly dragged by Reliance Industries, HDFC, HDFC Bank, ICICI Bank and SBI, which lost up to 3.35 per cent.
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