Tata Motors was the biggest gainer in the Sensex pack, rallying 2.94 per cent. It was followed by Vedanta, Bajaj Finance, Sun Pharma, ONGC, ICICI Bank, Bajaj Auto, Tata Steel, RIL, HDFC duo, L&T and SBI, rising up to 2.78 per cent.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The valuation of CIL dropped by Rs 20,875 cr to Rs 2,27,926 cr
Valuation of TCS, ITC declines in the week
Among the Sensex pack, Yes Bank, L&T, HDFC, RIL, HDFC Bank, PowerGrid and Coal India were the biggest losers -- falling up to 2.43 per cent.
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Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
However, TCS, ITC, Infosys, HDFC Bank, ICICI Bank and Sun Pharma added Rs 27k cr in m-cap
Equity markets began the new financial year with smart gains on Friday, with the Sensex rallying over 708 points to recapture the crucial 59,000-mark following gains in index majors HDFC twins and Reliance Industries, along with foreign fund inflows. On the first day of trading in the new financial year, the BSE barometer rallied 708.18 points or 1.21 per cent to settle at 59,276.69. During the day, it jumped 828.11 points or 1.41 per cent to 59,396.62. The broader NSE Nifty advanced 205.70 points or 1.18 per cent to settle at 17,670.45.
While CIL, HDFC Bank, SBI, ICICI Bank and HDFC saw rise in their market cap, TCS, RIL, ONGC, ITC and Infosys witnessed fall in their valuations for the week ended April 25.
Out of the seven companies, Coal India Ltd and SBI were the top gainers in an overall strong stock market. ONGC, ITC and Infosys were the losers for the week ended April 11.
Brokerages expect Nifty50 companies to have cumulatively witnessed strong double-digit growth in their earnings in the first quarter of FY24 (Q1FY24). This growth in the combined earnings is expected to have been driven by banks, automakers, and oil & gas companies. Other sectors may report muted profit growth.
Sensex is trading firm; FMCG, real estate going strong.
The market valuation of top five Sensex companies fell by Rs 36,971.61 crore (Rs 369.71 billion) last week, with ONGC and Sun Pharma being the worst hit.
HCL Tech and ONGC were the top gainers in the Sensex, rising up to 3.40 per cent.
The 30-share Sensex ended up 292 points at 29,571 and the 50-share Nifty closed up 75 points at 8,910.
Reflecting the bullish mood, all sectoral indices ended with gains, led by auto, oil and gas, FMCG, IT and teck. The broader NSE Nifty, after crossing the 10,600-mark, settled 68.40 points, or 0.67 per cent higher at 10,598.40.
Besides financials, shares of telecom, IT, auto and pharma were in demand.
Coal India was the biggest gainer on both Sensex and Nifty
Over the past week, BSE Sensex fell sharply by 701.24 points to 27,366.07
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
While TCS, RIL, ONGC, CIL, HDFC Bank, Bharti, HDFC and HUL saw rise in their market capitalisation (m-cap), ITC and Infosys suffered losses.
The top line growth for the 500 companies slowed down to 8.7 per cent.
Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today's session
In the Sensex pack, index heavyweight Reliance Industries fell 2.84 per cent to Rs 1,057.15 after reports that the company's oil assets may take a hit due to the government's imposition of cost controls on soaring petrol and diesel prices.
With the markets scaling new highs, as many as 43 stocks from the Nifty50 index and 27 of the 30 scrips that are part of the S&P BSE Sensex are trading above their respective 200-day moving average (DMA). The 200-DMA is seen as one of the most relevant trend indicators by investors and traders, who believe that stocks and indices trading above this level possess strength and are likely to rally in the short to medium term, while the ones trading below this level are viewed as bearish and expected to see a sell-off. Wipro, UPL, Kotak Mahindra Bank, Hindalco, Infosys, Cipla, and Adani Enterprises are the only stocks from the Nifty50 pack that are still below their respective 200-DMA, the exchange data suggests.
The Sensex rally was driven by Tata Motors, Vedanta, Bharti Airtel, Maruti, Reliance Industries, Tata Steel, Larsen and Toubro and HCL Tech.
The combined market valuation of top nine Sensex firms advanced by a whopping Rs 1.39 lakh crore with energy majors ONGC and RIL emerging as the star performers, while TCS saw a marginal dip last week when stock market recorded life-time highs.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Sectorally, metal, auto and IT stocks were leading gainers amid sustained foreign fund inflow.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
TCS heads top-10 ranking despite being sole loser; RIL, ITC take second & third place respectively
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
'The correction could take two to three months and traders need to be careful.' 'For investors, this could be a good time to nibble in.'
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
The broader NSE Nifty, after shuttling between 10,600.25 and 10,491.45 points, ended the last session of Samvat 2074 with a rise of 6 points, or 0.06 per cent, to end at 10,530.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
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