Stock market investors on Friday became richer by over Rs 1 lakh crore as the share market rose and the benchmark Sensex galloped to a new closing high enthused by the clear win of Narendra Modi-led BJP in Lok Sabha polls.
Additional levy to eat into Rs 6,000-crore income of top promoters
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ICICI Bank, HDFC Bank, IndusInd Bank down between 0.2%-1.4% each.
The broader markets are trading inline with the larger peers with BSE Midcap and Smallcap indices up 1.5% each.
The 30-share Sensex ended down 208 points at 28,261 and the 50-share Nifty closed 64 points lower at 8,571.
Sensex ended above 26,000 led by telecom shares amid TRAI's spectrum sharing norms.
The 30-share Sensex ended up 142 points at 29,462 and the 50-share Nifty gained 26 points to end at 8,895.
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This is its biggest single session fall since August 24, 2015, when it had lost 1,624.51 points.
Richest 10 account for 41% of promoter wealth, up from 33% in December 2018, says Krishna Kant.
The 30-share Sensex was up 188 points at 28,415 and the 50-share Nifty was up 58 points at 8,584.
On Monday, the biggest gainers in the Sensex pack were Sun Pharma, Bajaj Finance, Vedanta, Yes Bank, Tata Motors, HCL Tech, IndusInd Bank and Kotak Bank, HCL Tech, Infosys and Bajaj Auto.
Of these, three stocks belong to the automobile pack and two are from the pharma.
The sentiment got support from better-than-expected earning results by select companies and continuous buying by domestic financial institutions.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
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Financial shares were among the top Sensex gainers along with auto and pharma shares.
L&T was the top loser in the Sensex pack, dropping 4.99 per cent, after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter. Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent. NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
Banking shares saw a renewed buying interest on the hopes of a rate-cut by the central bank post the easing of macro-economic data.
Consolidated net debt of Airtel increased by 24 per cent to Rs 97,395.2 crore.
The BSE Sensex gained 104.63 points to end at 33,147.13, while the broader Nifty spurted 48.45 points to finish at 10,343.80.
The Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
Indian markets ended on a lower note after the stimulus announced by the European Central Bank (ECB) failed to meet expectation.
Benchmark indices gain 30% this year, buoyed by global liquidity, new government
the Sensex lost 23 points to close at 28,185 levels and the Nifty shed 7 points to end at 8,515 mark.
In Friday's market rally post the corporate tax cut, the country's top business promoters recouped more than two-thirds of the losses that they suffered in the post-Budget sell-off in equity markets.
An appreciating rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend
The upbeat earnings from Reliance Industries will set the tone for the truncated week ahead
Marquee recruiters made premium offers, with consulting leading the pack by making 25.04% of the offers, followed by IT/ITeS (18.59%), e-commerce (10.55%) and BFSI (10.13%).
The Sensex and Nifty remained above their key levels of 36,000 and 10,900 throughout the session, indicating strong investor optimism after a prolonged spell of caution.
Reliance Industries (RIL) was the top-performing index stock on Friday (May 26) and closed the day with gains of 2.8 per cent, against a 1 per cent rise in the benchmark S&P BSE Sensex during the day. RIL's performance on the bourses on Friday was, however, an exception, and the stock has struggled to beat the broader market for nearly two years now. The company's share price is currently at the same level as in September 2021, while the benchmark index is up 6 per cent in the period.
Index heavyweights ITC was the top gainer along with RIL and HDFC
Markets ended their lowest close in 2015 on fears of FII outflows as the US Fed may hike rates.
Brokerages expect Nifty50 firms to post 11.8% growth in net profit in Q1 but sales may decline
ICICI Bank was the top laggard in the Sensex pack, sinking over 10 per cent, followed by Bajaj Finance, HDFC, IndusInd Bank, Axis Bank and Maruti. Bharti Airtel and Sun Pharma were the gainers in the BSE index. NSE Nifty suffered a heavy loss of 566.40 points, or 5.74 per cent, to settle at 9,293.50.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
The 30-share Sensex ended up 1 point at 27,459 and the 50-share Nifty ended down 1 point at 8,341.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
