Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic market have dented investor sentiments. On Monday, the BSE Sensex dropped 175.58 points or 0.30 per cent to end at 59,288.35 points, marking a decline for seven straight trading sessions.
Benchmark share indices ended at record closing highs, amid a volatile trading session on Monday, with IT majors leading the gains.
Christopher Wood, global head of equity strategy at Jefferies reiterate his bullish view on Indian equities on the back of a steady fall in Covid cases coupled with a sharp economic recovery in India, reports Puneet Wadhwa.
From the Sensex pack, State Bank of India, Axis Bank, IndusInd Bank, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Maruti Suzuki, Tata Steel and Tata Motors were the major gainers. Power Grid and HDFC Bank were the laggards from the pack.
Among the Sensex firms, Kotak Mahindra Bank, Tata Steel, ITC, ICICI Bank, Bajaj Finserv, Maruti, Mahindra & Mahindra and State Bank of India were the biggest winners. Tata Consultancy Services, Infosys, HCL Technologies, Tech Mahindra, Asian Paints, Wipro and Tata Motors were the biggest laggards.
Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.
In the broader market, the BSE Midcap index bucked the trend to gain 0.3%
Broader gains were capped as investors awaited corporate results from major firms
Benchmark stock indices Sensex and Nifty closed higher for a second straight session on Monday following buying in index majors Reliance Industries, ICICI Bank and recovery in global markets.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
The turmoil on the Street and a continued fall of the rupee may affect growth stocks, pushing equity investors back to the relative safety of defensive counters, or forcing them to flee markets, or both.
Sensex sinks into red at close on growth concerns.
BSE Smallcap index outperformed the frontline indices to rise 0.6%, while the BSE Midcap was flat
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.5% and 0.4%, respectively.
About 1,556 shares have advanced, 1,211 shares declined, and 182 shares are unchanged.
Bankers have been criticised for not passing the benefits of rate cuts
Sensex lost 184 points to trade at 23,878 and the Nifty has dropped 55 points to quote at 7,254.
The record breaking spree was led by index heavyweights, financials and metal stocks.
Equity benchmark Sensex slumped over 1,000 points to sink below the 55,000-level on Friday, tracking deep losses in IT, finance, banking and energy stocks amid widespread selling in the global markets. A weak rupee, surging crude prices and relentless foreign capital outflows further weighed on sentiment, traders said. The 30-share BSE index ended 1,016.84 points or 1.84 per cent lower at 54,303.44.
Investors' wealth rose by Rs 2,22,763.25 crore in three days of market rally, with the benchmark Sensex closing at an all-time high on Thursday. At close of trade, the 30-share BSE index gained 254.80 points or 0.48 per cent to 53,158.85, its lifetime closing high. During the day, the benchmark also reached its all-time intra-day peak of 53,266.12 points. The benchmark has gained 786.16 points in three days.
Markets end in red; bluechips struggle to keep pace.
Rate sensitive sectors were among the top gainers with Tata Motors and ICICI Bank leading the gains on the Sensex.
The markets may be entering a consolidation phase and are expected to trade sideways for now after a good run in the last few weeks, suggest analysts. In this backdrop, they suggest investors can book profits at the current levels and enter the market again on a decline from a medium-to-long term perspective. Thus far in fiscal 2023-24 (FY24), the S&P BSE Sensex has moved up around 5 per cent to nearly 62,000 levels.
Falling for the sixth straight session, the BSE Sensex plunged 1,114.82 points or 2.96 per cent to close at 36,553.60 on Thursday, tracking a heavy selloff in global markets. The market capitalisation of BSE-listed companies stood at Rs 1,48,76,217.22 crore, down by Rs 11,31,815.5 crore in six sessions. Since September 16, the 30-share BSE benchmark index has fallen by 2,749.25 points.
Mixed earnings and not so encouraging macroeconomic data dented sentiment, Ajit Mishra, VP - Research, Religare Broking Ltd said. In twin blows to Indian economic revival, higher food prices drove retail inflation to a five-month high of 7.4 per cent, while factory output fell for the first time in 18 months. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame high prices. In the broader market, BSE Midcap declined 0.73 per cent while smallcap dropped 0.45 per cent.
Sensex is trading firm; FMCG, real estate going strong.
Markets under pressure; IT financials grab spotlight.
The 30-share Sensex ended up 214 points at 27,890 and the 50-share Nifty closed up 52 points at 8,430.
All BSE sectoral indices ended in the red, with oil and gas, bankex, capital goods and finance falling up to 3.04 per cent.
The 30-share Sensex ended in the red.
D-Street is hoping RBI policy review meeting on Tuesday will uphold its stand on easing of interest rates
Markets closed in the red on domestic worries.
Investor wealth eroded by Rs 6.59 lakh crore on Monday as equities tanked after the UK reported a new strain of the COVID-19 virus. The 30-share BSE Sensex plunged 1,406.73 points or 3 per cent to close at 45,553.96. The benchmark hit an all-time high of 47,055.69 during the session. Following the sharp selling, the market capitalisation of BSE-listed firms plummeted by Rs 659,313.65 crore to Rs 1,78,79,323.05 crore.
The 50-share NSE Nifty shed some ground to settle at 8,699.40 points, up 40.30 points, or 0.47 per cent
Don't get carried away by the current rally; be picky and take a stock-specific approach.
Sectorally, BSE metal, basic materials, energy, realty, power, oil and gas, finance, FMCG, bankex and telecom indices fell up to 1.71 per cent.
The 30 share Sensex ended up 183 points at 27,470 and the 50-share Nifty gained 44 points to close at 8,295.
Many are now cheaper after stock splits. But look at key parameters
No stock on BSE Sensex ended in red while only 3 stocks in the broader Nifty50 index settled the day negative
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
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