>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
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 top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
The NSE Nifty ended flat at 2807. The market breadth was marginally positive at close - out of 2,569 stocks traded, 1,245 advanced and 1,219 declined.
Markets extended gains for the fourth consecutive day tracking gains in banks, capital goods and oil and gas majors.
Unabated selling in realty, financial and capital goods stocks saw the index slide to a low of 14,687 - down 406 points from the previous close. The BSE Realty index slumped 8% (447 points) to 5,164. The Bankex tanked 5% (368 points) to 6,903, and the Capital Goods index shed 3.7% (468 points) at 12,139.
Top losers in the Sensex pack on Friday included Bajaj Finance, ONGC, IndusInd Bank, PowerGrid, L&T, Axis Bank, NTPC, Bharti Airtel, HDFC, HDFC Bank and Kotak Mahindra Bank, falling up to 2.08 per cent.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
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 ended up 110.10 points at 11,660.79, while Nifty closed up 24 points at 3390.
Experts prefer domestic consumption-driven plays and defensives such as information technology and pharmaceuticals
The markets have opened in the positive terrain on the first day of december, traders have shown their faith in construction, IT, steel, capital goods. The selling pressure was witnessed in oil, auto, telecom stocks.
The NSE Nifty ended at 4,446, up 59 points.
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.
After a strong start to the week on Tuesday, the Sensex this morning opened 15 points higher at 16,868 amid subdued global cues.
Shares of ICICI Bank may outperform those of HDFC Bank in the near-term, analysts said recently, after the Sandeep Bakhshi-led private sector lender reported a strong set of numbers for the July to September quarter (Q2) of financial year 2023-24 (FY24). The result, they said, reiterated that ICICI Bank is maintaining a sustainable and prudent growth led by tech-driven initiatives as against HDFC Bank, which is facing merger related challenges. According to analysts at Prabhudas Lilladher, ICICI Bank is valued at par with HDFC Bank at 2.2x/1.9x on FY25/26E core adjusted book value (ABV) basis.
The NSE Nifty ended at 2771, down 78 points. The market breadth was fairly negative -- out of 2,503 stocks traded, 1,712 declined, 688 advanced and the rest are unchanged.
The breadth was neutral with 1,329 advances and 1,320 declines.
The NSE Nifty ended at 3,491, up 211 points. The market breadth was fairly positive - out of 2,672 stocks traded, 1,687 advanced, 926 declined and the rest were unchanged on Monday.
Banking, realty, energy and capital goods stocks were the major gainers today. The Sensex touched a high of 15,106, and finally ended with a gain of 551 points at 15,050. The BSE Realty index soared 7.3% (367 points) to 5,367, and the Bankex zoomed 6% (425 points) to 7,447.
The NSE Nifty ended up 35 points at 4,249.
The index rising for the fourth straight session surged 564 points.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
Markets closed the day in green on favourable domestic factors,
The 30-share Sensex ended up 292 points at 29,571 and the 50-share Nifty closed up 75 points at 8,910.
Market breadth was weak with 1239 losers and 1078 gainers on the BSE.
Bharti Airtel, HDFC, ONGC, ITC and CIL emerged as the top gainers.
Investor sentiment got a boost following remarks from the Russian President Putin that allayed fears of an imminent military conflict in Ukraine
The 30-share Sensex lost 54 points at end at 27,086 and 50-share Nifty shed 19 points to close at 8,096.
ICICI Bank was the top gainer in the Sensex pack, rising over 3 per cent, followed by ITC, SBI, HCL Tech, Axis Bank, Bajaj Finserv and Tech Mahindra. NSE Nifty advanced 32 points to 15,856.05.
Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets.
HDFC Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by Kotak Bank, Bajaj Finserv, Maruti, Titan, SBI, HUL, HDFC and Tata Steel. On the other hand, Bharti Airtel, M&M, NTPC, Tech Mahindra, Sun Pharma and PowerGrid were among the gainers.
n the broader market, BSE Midcap and Smallcap indices are trading higher by 0.3% each.
The 30-share Sensex ended up 140 points at 28,262 and the 50-share Nifty was up 37 points at 8,551.
From the 30-Sensex pack, 26 stocks ended with gains led by Tata Steel and ICICI Bank
Kotak Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints. On the other hand, ONGC, PowerGrid and IndusInd Bank were the gainers.
the broader NSE Nifty settled 114.90 points, or 0.96 per cent, higher at 12,086.70. Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent. Bharti Airtel slipped 1.98 per cent, Kotak Bank 1.38 per cent, Bajaj Auto 0.88 per cent, Asian Paints 0.31 per cent, HDFC Bank 0.05 per cent and HUL 0.03 per cent.
Yes Bank was the top gainer in the Sensex pack rising 5.80 per cent, followed by Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel.
Benchmark indices Sensex and Nifty retreated from over one-week highs to close lower on Wednesday due to profit booking in banking, IT and metal stocks amid weak global trends. After a two-day rally, the 30-share BSE Sensex dropped by 90.99 points or 0.16 per cent to settle at 57,806.49 in volatile trade. As many as 19 of its constituents declined while 11 advanced. The broader Nifty slipped by 19.65 points or 0.11 per cent to close at 17,213.60 with 31 of its stocks ending in the red.
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