The Sensex and Nifty ended at fresh lifetime peaks on Tuesday amid a largely firm trend in other Asian markets and continuous foreign fund inflows. The 30-share BSE Sensex gained 177.04 points or 0.28 per cent to settle at 62,681.84, its fresh record closing high. During the day, it jumped 382.6 points or 0.61 per cent to its lifetime intra-day peak of 62,887.40.
The NSE Nifty 50 has slipped 3.4 per cent, or 764 points, in the last five trading sessions, after registering a fresh all-time high at 22,794.70 on Friday, May 03, 2024. In the process, the Nifty 50 index is seen quoting close to its 100-DMA (Daily Moving Average) of 21,970 for the second time in less than a month. Earlier on April 19, 2024, the Nifty 50 had tested the 100-DMA support, and then staged a smart rally of 4.7 per cent, or 1,017 points, to hit the new peak of 22,794.70.
Hotel companies, which have experienced substantial share price gains in the past six months, are not only expected to post robust revenue growth in the seasonally weak July-September quarter (second quarter, or Q2) of 2023-24 (FY24), with the trend continuing in the second half (H2) of FY24, but according to some analysts, they will also benefit from a structural uptrend in progress. To begin with, larger players in the listed hotel sector are expected to report strong growth in Q2 compared to the year-ago quarter. Led by higher demand from the business segment, the sector is expected to achieve a growth rate of 15-30 per cent.
Rupee depreciation to cut earnings 3-4 per cent in FY14.
Rupee has depreciated 8 per cent against the US dollar since beginning May'13.
PowerGrid was the top gainer in the Sensex pack, rising around 4 per cent, followed by ITC, Bajaj Finance, Infosys, NTPC and Tech Mahindra. NSE Nifty advanced 117.15 points to 17,072.60.
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Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank. Nifty fell 143.60 points to 17,873.60.
ICICI Bank was the top gainer in the Sensex pack, soaring nearly 11 per cent, followed by Axis Bank, Dr Reddy's, SBI, M&M and Tech Mahindra. NSE Nifty advanced 10.50 points to 18,125.40.
Benchmark stock indices Sensex and Nifty spurted over 1 per cent at close on Monday following buying in IT, oil and gas and banking shares bolstered by firm global trends. Rising for a second straight session, the 30-share BSE Sensex rallied 760.37 points or 1.41 per cent to settle at 54,521.15. During the day, it jumped 795.88 points or 1.48 per cent to 53,760.78. The broader NSE Nifty advanced 229.30 points or 1.43 per cent to 16,278.50 as 41 of its constituents advanced.
Asian shares have begun the week on a plaintive note.
Equity benchmark indices Sensex and Nifty bounced back on Thursday to close higher by nearly 1 per cent on gains in banking, IT and auto shares amid mixed global trends. The 30-share BSE Sensex rose by 443.19 points or 0.86 per cent to settle at 52,265.72. During the day, it rallied 694.26 points or 1.33 per cent to 52,516.79. The NSE Nifty advanced 143.35 points or 0.93 per cent to 15,556.65.
Bajaj Finance was the top gainer in the Sensex pack, rising around 3 per cent, followed by Infosys, Titan, Reliance Industries and HCL Tech. NSE Nifty rose 27 points to 17,248.40.
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.
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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.
PowerGrid was the top gainer in the Sensex pack, spurting 2.76 per cent, followed by NTPC, M&M, L&T, Hindustan Unilever, HDFC, and Infosys.
IndusInd Bank was the top gainer in the Sensex pack, soaring over 7 per cent, followed by Bharti Airtel, HCL Tech, Tata Steel, Tech Mahindra and Dr Reddy's.
Tata Steel was the top gainer in the Sensex pack, jumping over 6 per cent, followed by Sun Pharma, L&T, M&M, PowerGrid, Bajaj Finserv, TCS and Infosys. On the other hand, Wipro, Asian Paints, HDFC Bank, IndusInd Bank and HCL Tech were among the laggards.
PowerGrid was the top loser in the Sensex pack, shedding around 3 per cent, followed by Asian Paints, Axis Bank, Kotak Bank, Bajaj Auto, SBI and M&M.
Equity benchmark Sensex rallied 478 points on Monday after gains in index majors HDFC, Infosys and Kotak Bank despite a negative trend in the global markets.
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M&M was the top laggard in the Sensex pack, cracking over 7 per cent, after the home-grown auto major on Saturday reported 73 per cent decline in consolidated quarterly net profit.
Equity benchmark Sensex on Monday crashed about 1,546 points to sink below the 58,000-level due to across-the-board selloff tracking sluggish global markets. Besides, persistent foreign capital outflows continued to affect the market sentiment, traders said. Benchmark indices started the session on a weaker note and the selling intensified during afternoon trade, with almost all sectoral indices ending in the red. The 30-share BSE Sensex ended 1,545.67 points or 2.62 per cent lower at 57,491.51.
Micro-cap stocks are in the line of fire as market regulator Securities and Exchange Board of India (Sebi) is tightening its noose around investment in small-cap stocks. Given this, analysts suggest investors exit the segment, at least, for the time being. Independent market analyst, Ambareesh Baliga, for instance, said that regulators have gotten worried on the valuation front, though belated, which could prove to be the last straw on the camel's back.
Tech Mahindra was the top gainer in the Sensex pack, rising over 3 per cent, followed by Dr Reddy's, PowerGrid, Kotak Bank, Sun Pharma, ICICI Bank and M&M. On the other hand, IndusInd Bank, Asian Paints, Maruti and Bharti Airtel were among the laggards.
Maruti was the top loser in the Sensex pack, shedding around 3 per cent, followed by L&T, IndusInd Bank, Axis Bank, ONGC, Reliance Industries, Asian Paints and HDFC. On the other hand, HCL Tech, TCS, Sun Pharma and Tech Mahindra were among the gainers.
The rupee extended its losses and slumped 60 paise to close at a record low of 77.50 (provisional) against the US dollar on Monday, pressured by the strength of the American currency overseas and unabated foreign fund outflows. Forex traders said risk appetite has weakened amid mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks. At the interbank foreign exchange market, the rupee opened lower at 77.17 against the greenback, and finally settled for the day at 77.50, down 60 paise over its previous close.
HUL was the top gainer in the Sensex pack, rising around 2 per cent, followed by TCS, ITC, Asian Paints, HDFC, HCL Tech and Nestle India.
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Bharti Airtel was the top laggard in the Sensex pack, shedding over 2 per cent, followed by Sun Pharma, ITC, SBI, Axis Bank, HDFC twins and Nestle India.
UltraTech Cement was the top loser in the Sensex pack, shedding around 3 per cent, followed by M&M, HDFC Bank, IndusInd Bank, Axis Bank and Reliance Industries. NSE Nifty fell 50.80 points or 0.38 per cent to 13,478.30.
Domestic equity benchmarks ended marginally higher on Thursday, with the Nifty settling at a fresh record, amid mixed cues from global markets.
Bajaj Finance was the top gainer in the Sensex pack, spurting around 4 per cent, followed by SBI, Tata Steel, HDFC, Bajaj Finserv, HCL Tech and M&M. On the other hand, ONGC, Tech Mahindra, TCS, HUL and Maruti were among the laggards.
M&M was the top gainer in the Sensex pack, jumping around 6 per cent, followed by Titan, HCL Tech, Tata Steel, Infosys and TCS. On the other hand, Axis Bank, HUL, Kotak Bank and Bharti Airtel were among the laggards.
Shares of public sector enterprises have corrected by up to 22 per cent month-to-date until March 19, 2024. Analysts attribute this steep fall to the valuation exuberance seen after a sharp run in these counters last year and suggest investors remain selective regarding the stocks in this space. "The rally in public sector undertaking (PSU) stocks has been stretched and sharp, although it is somewhat justified by improvements seen in earnings, operations, balance sheets, and overall profitability.
IndusInd Bank was the top laggard in the Sensex pack, shedding around 3 per cent, followed by ICICI Bank, Titan, Infosys, HDFC Bank, Nestle India, Sun Pharma and Reliance Industries. The broader NSE Nifty slipped 41.20 points or 0.35 per cent to 11,896.45.
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