Markets continued to fall on Monday, with the Sensex declining 94 points as investors remained cautious amid unabated selling by foreign funds and elevated crude oil prices ahead of the RBI's policy decision later this week. The 30-share BSE Sensex declined 93.91 points or 0.17 per cent to end at 55,675.32. During the day, it tanked 473.49 points or 0.84 per cent to 55,295.74.
Nine of the top-10 most valued companies together lost a whopping Rs 309,178.44 crore in market valuation last week as selloffs continued. In a holiday-shortened past week, the 30-share BSE Sensex plummeted 1,836.95 points or 3.11 per cent amid geopolitical tensions, global sell-off triggered by a hawkish US Federal Reserve and unabated foreign fund outflows. From the top-10 list, State Bank of India was the lone gainer as its valuation jumped Rs 18,340.07 crore to reach Rs 467,069.54 crore.
The domestic equity market on Thursday snapped the five-day losing streak as the benchmark Sensex recouped its lost ground and closed 78 points higher on fag-end value buying in banking, energy and financial stocks. A positive opening in the European market helped the investor sentiments even as clouds hovered over the health of the global banking system amid Credit Suisse woes and bank failures in the US. Halting its five-day losing streak, the 30-share BSE benchmark rose 78.94 points or 0.14 per cent to close at 57,634.84 points, with 17 of its constituents ending in the green.
Benchmark indices rebounded sharply on Tuesday after falling for the past two sessions, with the Sensex rallying nearly 777 points, helped by buying in index major Reliance Industries and recovery in global markets. The 30-share BSE benchmark jumped 776.72 points or 1.37 per cent to end at 57,356.61. During the day, it rallied 862.35 points or 1.52 per cent to 57,442.24. The broader NSE Nifty gained 246.85 points or 1.46 per cent to finish at 17,200.80.
Benchmark indices Sensex and Nifty declined in early trade on Wednesday due to selling in financials, oil and IT stocks amid weak global trends.
Even as raw material prices start cooling off from their peaks, fast-moving consumer goods (FMCG) companies' margins are expected to remain under pressure at least in the next quarter. This is because commodity prices continue to remain high year-on-year (YoY). Consumer companies will also continue to increase rates as they have been taking price hikes in a staggered manner. They have not yet passed the entire price increase of raw materials to consumers.
It may be a little early to cheer the recovery in the fast-moving consumer goods (FMCG) space as a deceleration in discretionary demand, after the festival season, may offset fragile rural recovery, analysts have cautioned. "The overall demand environment for staples remains muted, while discretionary demand trends have seen some deceleration after the festival season. "We believe margins in staples have bottomed out, but we expect only a gradual uptick with the ongoing softening in raw material prices.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
Equity benchmark Sensex declined over 410 points to close below the 61,000-mark on Thursday, tracking weakness in M&M, Bajaj Finserv and Reliance Industries amid widespread selling pressure in global markets. A depreciating rupee also put pressure on domestic equities, traders said. In a subdued session, the 30-share BSE Sensex ended 419.85 points or 0.69 per cent lower at 60,613.70.
The government will develop a mechanism to ensure that e-commerce companies and entities that have adopted Open Network for Digital Commerce (ONDC) architecture are compliant with the rules. Non-compliance may result in a penalty. "We will have our own evaluation system, and if we find any player is not sticking to it, then we will take action. "Participants will have to be compliant with the rule of the land," Sanjiv, joint secretary at the Department for Promotion of Industry and Internal Trade (DPIIT), told reporters on Thursday.
Tech Mahindra was the top gainer in the Sensex pack, rising over 3 per cent, followed by TCS, Nestle India, Titan, Infosys and HUL. NSE Nifty advanced 51.55 points to 16,614.60.
Tata Steel was the biggest gainer in the Sensex chart, rising 2.39 per cent, followed by Tata Motors, Power Grid, Reliance Industries, UltraTech Cement, NTPC, Nestle, HUL, Mahindra & Mahindra, Wipro, Kotak Mahindra Bank and Asian Paints. In contrast, Bajaj Finance, IndusInd Bank, Axis Bank, Bharti Airtel, Bajaj Finserv, ICICI Bank, Infosys and Titan were among the laggards.
Private equity player Everstone Capital has sold Modern Foods, which it had taken over in early 2016 from Hindustan Unilever, to Mexican baking major Grupo Bimbo for an undisclosed sum.
IndusInd Bank was the top loser in the Sensex pack, shedding around 5 per cent, followed by Kotak Bank, HUL, Titan, Bajaj Finserv and HDFC. NSE Nifty plunged 263.20 points to 16,985.20.
Among Sensex stocks, SBI, IndusInd Bank, HDFC Bank, Axis Bank, HDFC, Tech Mahindra, ICICI Bank, Ultratech Cement, L&T, Bajaj Finserv, Reliance, HCL Tech, Asian Paints, Wipro and M&M were the major losers. On the other hand, HUL advanced the most by 1.14 per cent. Maruti, Tata Steel, NTPC and Sun Pharma also posted gains.
A day after suffering their worst session in about two years, benchmark indices Sensex and Nifty rebounded up to 2.5 per cent on Friday, in line with higher global markets as the US and allies put up a united front to punish Russia with harsher sanctions over the Ukraine conflict. Snapping their seven-day losing streak, the BSE Sensex climbed 1,328.61 points or 2.44 per cent to settle at 55,858.52, while the NSE Nifty went soared 410.45 points or 2.53 per cent to 16,658.40. Barring HUL and Nestle, all Sensex shares closed with gains -- with Tata Steel, IndusInd Bank, Bajaj Finance, NTPC and Tech Mahindra surging as much as 6.54 per cent.
Equity benchmark Sensex surged over 1,300 points on Monday to reclaim the 60,000-level, boosted by intense buying in banking and financial stocks after the announcement of merger between HDFC and HDFC Bank. Strong global cues and receding crude oil prices also propped up the domestic equity markets, according to traders. Shares of HDFC and HDFC Bank rallied nearly 10 per cent as investors lapped up the merger deal.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr Reddy's and Titan. NSE Nifty surged 157.90 points to 17,234.15.
Hindustan Unilever (HUL) hiked prices across its portfolio of products by 3-13 per cent in multiple tranches in February, with the sharpest increase of 13 per cent seen in the 100 gm Lux soap pack, the price of which increased to Rs 35 from Rs 31 earlier. The price of the 125 gms soap pack of Lifebuoy was hiked from Rs 31 to Rs 33, a rise of 6.5 per cent. In January, the company had hiked the price of the same stock-keeping unit from Rs 29 to Rs 31.
Equity benchmark Sensex declined over 215 points on Wednesday, weighed by losses in index heavyweight Reliance Industries, Bajaj Finserv and Tata Steel, after the Reserve Bank raised the key interest rate by 35 basis points. Subdued Asian markets and continued selling by foreign investors also weighed on sentiment, traders said. Extending its losses for the fourth straight session, the 30-share BSE Sensex ended 215.68 points or 0.34 per cent lower at 62,410.68.
Bajaj Finserv was the top loser in the Sensex pack, shedding 4.57 per cent, followed by Infosys, TCS, Sun Pharma, HCL Tech, HUL, Dr Reddy's, HDFC and Reliance Industries. NSE Nifty plunged 181.40 points to 17,757.00.
Nine of the top-10 most valued domestic companies together added a whopping Rs 2,22,591.01 crore in market valuation last week, with heavyweights RIL, TCS and HDFC twins gaining the most. During the last week, the BSE benchmark Sensex rallied 1,690.88 points or 3.21 per cent. The index reached its all-time high of 54,717.24 on August 5. Barring Bajaj Finance, rest nine companies -- Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever Ltd (HUL), ICICI Bank, HDFC, State Bank of India and Kotak Mahindra Bank -- logged gains.
The government is at a "fairly advanced stage" of finalising a well-coordinated e-commerce policy and consumer protection rules, which will incorporate provisions of Open Network for Digital Commerce (ONDC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Rajesh Kumar Singh said on Thursday. "E-commerce rules and e-commerce policy will be congruent with each other... That exercise is at a fairly advanced stage," Singh told reporters. The remarks come on a day the number of daily transactions on the platform has gone up 500 times since the beginning of this year with the number of retail merchants added to its roster growing 40-fold.
In spite of a severe second wave of the coronavirus pandemic, and a widespread disruption in public life therefore, India's fast-moving consumer goods (FMGC) sector seems to have emerged as one of the most resilient segments of the economy. The early numbers and estimates for the April-June quarter indicate a steady recovery in FMCG players' business, which is now set to exceed the pre-pandemic level. Amid nationwide lockdowns because of the first Covid wave, FMCG revenues had been severely affected in mid-2020.
Nine of the 10 most valued firms together added over Rs 2.12 lakh crore in their market valuation last week, with HDFC Bank and TCS emerging as the lead gainers. Last week, the 30-share BSE benchmark jumped 844.68 points or 1.38 per cent. The stock markets were closed on Tuesday for Guru Nanak Jayanti.
FMCG distributors on Thursday said it has suspended their boycott of certain products of oral care maker Colgate after talks with the company representatives over the issue of the price disparity between the traditional distributors and organised business-to-business channel. A day after a virtual meeting with Colgate-Palmolive (India) Ltd (CPIL) representatives, the All India Consumer Products Distributors Federation (AICPDF) called off its stir to boycott certain products of the company starting from January 1, 2022. "From today, the movement against Colgate is postponed till further notice," the AICPDF said in a statement.
IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by HUL, ONGC, ICICI Bank, Axis Bank, Kotak Bank, M&M and Tech Mahindra. NSE Nifty tumbled 154.25 points to 14,696.50.
Investors' wealth tumbled over Rs 5.78 lakh crore in two days of market fall amid a weak trend in global markets after a host of central banks hiked interest rates and gave hawkish commentary. The 30-share BSE Sensex declined 461.22 points or 0.75 per cent to settle at 61,337.81 on Friday. In the previous trade, the BSE benchmark had tanked 878.88 points or 1.40 per cent to settle at 61,799.03.
ITC, Sun Pharma, Maruti, M&M, Tata Motors, HCL Tech, Wipro, Infosys, HUL, Bharti Airtel and Reliance were among the major losers. Kotak Bank rose the most by 1.59 per cent, followed by IndusInd Bank, Bajaj Finance and Bajaj Finserv. L&T, SBI, TCS and HDFC Bank also closed higher.
Eight of the top-10 most valued companies suffered a combined erosion of Rs 2,61,812.14 crore in market valuation last week, with Reliance Industries emerging as the biggest laggard. In the top-10 list, Infosys and Wipro were the only gainers. During the last week, the BSE benchmark slumped 1,774.93 points or 3.01 per cent.
Equity market capitalisation dropped to a seven-month low in February, with the top 10 companies losing a whopping Rs 3,33,307.62 crore in market valuation last week. The total equity market capitalisation (m-cap) in February 2022 stood at Rs 2,49,97,053.39 crore. The previous low was in July 2021, when the m-cap of BSE-listed companies was at Rs 2,35,49,748.9 crore. In January, the m-cap stood at Rs 2,64,41,207.18 crore.
Asian Paints was the top loser in the Sensex pack, shedding 2.66 per cent, followed by Axis Bank, HUL, Wipro, M&M, HDFC and Bharti Airtel. On the other hand, TCS, Infosys, L&T, Tech Mahindra and HDFC Bank were among the gainers.
Equity benchmark Sensex rallied 515 points on Thursday to reclaim the 59,000-level, propelled by heavy buying in IT, banking and financial stocks amid sustained foreign fund inflows. The 30-share BSE index ended 515.31 points or 0.88 per cent higher at 59,332.60. Similarly, the broader NSE Nifty gained 124.25 points or 124.25 per cent to close at 17,659.
Axis Bank was the top loser in the Sensex pack, tanking over 6 per cent, followed by Bajaj Finance, Bajaj Finserv, IndusInd Bank, HUL and Tata Steel. NSE Nifty fell 57.45 points to 18,210.95.
Sensex ends in green, bluechips in spotlight.
HDFC was the top loser in the Sensex pack, shedding nearly 2 per cent, followed by Kotak Bank, Asian Paints, UltraTech Cement, HDFC Bank, HUL and Tech Mahindra.
Benchmark BSE Sensex gained 130 points on Friday after gains in index majors Reliance Industries, ICICI Bank and Tata Steel ahead of the release of inflation and factory output data. Recovering from its early losses, the 30-share BSE index ended 130.18 points or 0.22 per cent higher at 59,462.78 in a range-bound trade. The broader NSE Nifty advanced 39.15 points or 0.22 per cent to close at 17,698.15.
Ultratech Cement was the top gainer in the Sensex pack, surging nearly 3 per cent, followed by M&M, Maruti, Tata Steel, TCS, L&T, SBI and HUL. NSE Nifty advanced 52.35 points to 18,308.10.
NTPC was the top gainer in the Sensex pack, rallying over 4 per cent, followed by HUL, PowerGrid, Reliance Industries, ITC, UltraTech Cement and Bajaj Finance. NSE Nifty surged 186.15 points to finish at 14,744.
ICICI Bank, HUL, HDFC Bank, M&M, Ultra Cement, IndusInd Bank and Tech Mahindra were among the losers in the Sensex pack. NSE Nifty slipped 13.95 points to 17,355.30.
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