Investors' wealth fell by Rs 2.39 lakh crore on Monday in line with a weak trend in the global equity markets. The BSE Sensex tanked 861.25 points or 1.46 per cent to settle at 57,972.62. During the day, it tumbled 1,466.4 points or 2.49 per cent to 57,367.47.
India's second largest IT services company Infosys on Thursday made it clear that the company does not support moonlighting and said it has fired employees who were into dual employment over the last 12 months. Infosys, however, did not divulge the exact number of people who were "let go" on account of moonlighting. Last month, Wipro chairman Rishad Premji revealed that some 300 employees were fired as the IT services company had no place for any employee who chose to work directly with rivals while being on Wipro payrolls.
Equity benchmarks shrugged off lacklustre global cues to clock smart gains on Tuesday, buoyed by strong buying interest in index heavyweights Reliance Industries and HDFC twins. However, a depreciating rupee and unabated foreign fund outflows capped the gains, traders said. The 30-share BSE Sensex rallied 562.75 points or 0.94 per cent to settle at 60,655.72.
IndusInd Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Titan, Tata Steel, M&M, Bajaj Finance and SBI. On the other hand, Bharti Airtel, HCL Tech, Tech Mahindra and Kotak Bank were among the gainers. NSE Nifty inched 8.95 points lower to 16,249.85 in early trade.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
Equity markets extended their rally on Friday, with the Sensex and Nifty jumping over 1 per cent each, in tandem with a positive trend in global equities. Buying in Infosys and banking counters helped markets maintain their winning run. The 30-share BSE Sensex rallied 632.13 points or 1.17 per cent to settle at 54,884.66.
Titan was the top loser in the Sensex pack, shedding over 1 per cent, followed by TCS, HCL Tech, Reliance Industries, UltraTech Cement and Bharti Airtel. NSE Nifty settled 45.65 points down at 15,814.70.
The results of Indian IT services players in the just-concluded fourth quarter of 2021-22 are expected to reveal continuing growth momentum as demand surges on the back of digital transformations and the cloud shift, but analysts anticipate margins to be under pressure due to supply challenges. Analysts covering the sector expect revenue commentary should be strong despite the Russia-Ukraine conflict and inflation. Top-line growth will be driven by broad-based demand with a strong uptick for cloud, digital, cybersecurity, data analytics, and artificial intelligence, among other services.
Tech Mahindra was the top gainer in the Sensex pack, rising over 2 per cent, followed by HCL Tech, Infosys, L&T, Tata Steel and ITC. NSE Nifty advanced 41.60 points to 15,853.95.
Reliance Industries was the top gainer in the Sensex pack, rallying nearly 4 per cent, followed by Infosys, Tech Mahindra, HCL Tech, TCS and L&T.
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.
Infosys was the top gainer in the Sensex pack, rising over 2 per cent, followed by Bajaj Finance, HCL Tech, Tata Steel, Tech Mahindra and NTPC. On the other hand, Maruti, Sun Pharma, HUL and ITC were among the laggards. Nifty rose 122.15 points to 17,343.55.
Brokerages expect India Inc to report an upturn in earnings for the March quarter of 2022-23, after a relatively muted showing in the previous two quarters. This growth is expected to be led by banking, financial services and insurance (BFSI) companies, FMCG firms, and automobile makers. The combined net profit of the Nifty50 companies (excluding Adani Enterprises) is expected to have grown 15.6 per cent to Rs 1.77 trillion in Q4FY23, from Rs 1.53 trillion a year ago.
Benchmark indices advanced for the second straight session on Tuesday, with the Sensex and Nifty jumping nearly 2 per cent each, mirroring a rally in global equity markets. Buying in index majors Reliance Industries and IT stocks buoyed the benchmarks. The BSE Sensex zoomed 934.23 points or 1.81 per cent to settle at 52,532.07. During the day, it rallied 1,201.56 points or 2.32 per cent to 52,799.40. The NSE Nifty climbed 288.65 points or 1.88 per cent to finish at 15,638.80.
Benchmark indices fell on Monday with the BSE Sensex declining 306 points, mainly dragged down by Reliance Industries. Foreign funds outflow also added to the overall bearish trend in equities on Monday. The 30-share BSE benchmark fell 306.01 points or 0.55 per cent to settle at 55,766.22. During the day, it declined 535.15 points or 0.95 per cent to 55,537.08. The broader NSE Nifty dipped 88.45 points or 0.53 per cent to 16,631.
Benchmark Sensex declined 224 points on Wednesday, snapping its four-session winning streak, mainly due to sell-off in IT and pharma counters amid rising concerns over possible aggressive interest rate hikes to tame high inflation. The 30-share index rebounded more than 1,200 points from the early lows before settling at 60,346.97 points, a total loss of 224.11 points or 0.37 per cent compared to Tuesday's closing level. The broader NSE Nifty closed lower 66.30 points or 0.37 per cent at 18,003.75 points.
ITC was the top loser in the Sensex pack, shedding nearly 3 per cent, followed by Tech Mahindra, Axis Bank, Asian Paints, TCS, HCL Tech, HDFC and Kotak Bank.
Six of the top 10 most valued Indian firms added a cumulative Rs 86,683.71 crore in market valuation last week, with HDFC twins emerging as the biggest gainers. On the top 10 chart, HDFC Bank, HDFC, ICICI Bank, Kotak Mahindra Bank, Bharti Airtel and HCL Technologies were gainers. While, Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), Hindustan Unilever Ltd (HUL) and Infosys saw erosion in their market valuation.
Benchmark equity indices Sensex and Nifty reversed their early gains to close lower on Wednesday due to selling in oil & gas, banking and IT stocks amid weak trends in European markets. The 30-share BSE Sensex declined by 372.46 points or 0.69 per cent to close at 53,514.15, extending its falling streak to a third day. The index opened higher and touched the day's high of 54,211.22 amid gains in Asian markets.
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
Benchmark indices turned highly volatile in the last hour of trade on Monday, with the Sensex falling 86.61 points after three days of gain amid heavy selling in IT counters and weak trends in global markets. The 30-share BSE benchmark declined 86.61 points or 0.16 per cent to settle at 54,395.23. During the day, it fell by 391.31 points or 0.71 per cent to 54,090.53.
The market capitalisation of BSE-listed firms reached an all-time high of Rs 288.50 lakh crore on Wednesday amid an ongoing rally in equities, as the benchmark Sensex settled above 63,000-level for the first time ever. The 30-share BSE barometer climbed 417.81 points or 0.67 per cent to settle at 63,099.65, its fresh record closing high. During the day, the benchmark jumped 621.17 points or 0.99 per cent to 63,303.01, its lifetime intra-day peak. Extending its winning momentum to seventh day, the Sensex has rallied 1,954.81 points or 3.19 per cent during this time.
S&P Global Ratings on Thursday said about half of the Indian companies that it rates are getting a boost in their core profitability from rupee depreciation. "Much of our rated India corporate portfolio has sizable US-dollar linked revenue and, therefore, is not exposed to rupee depreciation. "This encompasses entities in the IT, metals, and chemicals sectors. About half of the firms we rate are getting an EBITDA boost from currency weakening," the US-based rating agency said in a report.
Investors' wealth plunged over Rs 3.91 lakh crore on Friday amid an extremely weak broader market trend. The BSE benchmark tanked 773.11 points or 1.31 per cent to settle at 58,152.92 after a weak opening. During the day, it tumbled 1,011.93 points to 57,914.10.
