Equity benchmarks fell sharply on Thursday in line with an extremely weak trend in the global markets, with the Sensex plunging 1,154.78 points in early trade. Persistent foreign fund outflows and a spurt in crude oil prices also dampened sentiment. The 30-share BSE benchmark was trading 1,154.78 points lower at 53,053.75. The broader NSE Nifty tumbled 335.65 points to 15,904.65.
From the Sensex pack, Tata Motors, Sun Pharma, Wipro, Tata Consultancy Services, UltraTech Cement, Tech Mahindra, Bajaj Finserv, HCL Technologies, Infosys and IndusInd Bank were the major laggards. NTPC, Power Grid, Reliance Industries, Tata Steel, HDFC and HDFC Bank were the major winners.
Audit firm Deloitte has resigned as auditors of Byju's citing a delay in submission of financial statements while almost simultaneously three of the edtech firm's board members have quit in what is being seen as a deepening crisis at the decacorn. Deloitte Haskins & Sells, which was slated to audit Byju's until 2025, stepped down with "immediate effect" mid-term stating that "the financial statements of the company are long delayed. In a letter sent to the board of Think & Learn Pvt Ltd (known as Byju's), Deloitte said it has not been able to start an audit due to the delays and that will have a "significant impact" on its ability to "plan, design perform and complete" the audit as per standards.
Benchmark indices Sensex and Nifty ended with gains on Wednesday, extending the previous day rally amid lower level of inflation on domestic front and better-than-expected inflation readings from the US. The 30-share BSE Sensex climbed 144.61 points or 0.23 per cent to settle at 62,677.91. During the day, it jumped 301.81 points or 0.48 per cent to 62,835.11.
A rocket-propelled grenade hit the Punjab police's intelligence wing headquarters in Mohali on Monday night.
Equity benchmarks ended lower on Thursday as a fag-end sell-off wiped out early gains, with IT and bank stocks playing spoilsport amid monthly derivatives expiry. After remaining in the positive territory for most part of the trade, the BSE Sensex suddenly came under selling pressure during the last half-hour of the session, declining 310.71 points or 0.53 per cent to settle at 58,774.72. During the day, it hit a high of 59,484.35 and a low of 58,666.41.
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Benchmark indices continued their downtrend for the fifth session on the trot on Thursday, with the Sensex tumbling nearly 817 points in early trade, tracking weak global trends and selling in index majors Reliance Industries and HDFC Bank. Unabated selling by foreign institutional investors also weighed on the sentiment. The 30-share BSE Sensex was trading 816.78 points lower at 53,271.61. The NSE Nifty declined 234.05 points to 15,933.05.
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.
Equity benchmark Sensex declined nearly 390 points on Friday, pressured by heavy selling in IT, tech and energy stocks despite a positive trend in the global markets. Besides, rising crude oil prices and relentless foreign capital outflows further weighed on sentiment, traders said. The 30-share BSE Sensex opened strong but came under severe selling pressure to close 389.01 points or 0.62 per cent lower at 62,181.67.
Benchmark BSE Sensex and Nifty ended lower on Wednesday, dragged down by losses in banking stocks amid weak global market trends. The 30-share Sensex declined by 168.08 points or 0.28 per cent to settle at 59,028.91. During the day, it fell 474.1 points or 0.80 per cent to 58,722.89. The broader NSE Nifty dipped 31.20 points or 0.18 per cent to 17,624.40.
Benchmark indices Sensex and Nifty closed marginally down in a volatile trade on Friday following profit booking in financials and IT shares amid a weak trend in global equity markets. Snapping its two-day gaining streak, the 30-share BSE Sensex declined 30.81 points or 0.05 per cent to settle at 58,191.29. During the day, it fell 370.95 points or 0.63 per cent to 57,851.15.
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Equity benchmark Sensex declined over 215 points on Wednesday, weighed by losses in index heavyweight Reliance Industries, Bajaj Finserv and Tata Steel, after the Reserve Bank raised the key interest rate by 35 basis points. Subdued Asian markets and continued selling by foreign investors also weighed on sentiment, traders said. Extending its losses for the fourth straight session, the 30-share BSE Sensex ended 215.68 points or 0.34 per cent lower at 62,410.68.
Benchmark indices Sensex and Nifty bounced back on Tuesday to close over 2 per cent higher amid positive trends in global equity markets. The 30-share BSE Sensex spurted 1,276.66 points or 2.25 per cent to settle at 58,065.47. During the day, it zoomed 1,311.13 points or 2.30 per cent to 58,099.94. The broader NSE Nifty rallied 386.95 points or 2.29 per cent to end at 17,274.30.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
Among Sensex shares, Bajaj Finserv fell the most by 4.08 per cent. Bajaj Finance declined by 3.01 per cent, Tata Steel by 2.2 per cent, Wipro by 2.09 per cent, Tata Motors by 1.96 per cent, IndusInd Bank by 1.9 per cent, SBI by 1.75 per cent, Tech Mahindra by 1.66 per cent and HCL Tech by 1.2 per cent. TCS, Infosys, Power Grid, Maruti, Reliance, HDFC twins, L&T, M&M, NTPC and Ultratech Cement were also among the losers.
The Sensex pull-back was mainly staged by constant selloffs in banking shares, led by ICICI Bank, Axis Bank and IndusInd Bank. Of the Sensex constituents, 19 shares suffered losses.
Benchmark indices Sensex and Nifty took a beating on Thursday and dropped over 1 per cent each, weighed by selling in index major Reliance Industries, IT and banking stocks amid weak global trends. The BSE Sensex fell 770.48 points or 1.29 per cent to settle at 58,766.59. During the day, it tanked 1,014.5 points or 1.70 per cent to 58,522.57. Similarly, the NSE Nifty declined 216.50 points or 1.22 per cent to close at 17,542.80.
Equity benchmark Sensex dropped over 430 points on Tuesday as investors booked profits in banking and financial stocks after sharp gains in the previous session. Investor focus returned to the Russia-Ukraine war and rising oil prices, traders said. The 30-share BSE gauge ended 435.24 points or 0.72 per cent lower at 60,176.50.
Ultratech Cement was the top gainer in the Sensex pack, spurting nearly 5 per cent, followed by Axis Bank, IndusInd Bank, HDFC, Bajaj Finserv, Infosys and Bajaj Finance.
An explosion took place at the headquarters of the intelligence wing of the Punjab police in Mohali Monday night, sources said in Chandigarh.
Equity benchmark indices fell sharply on Tuesday, with the Sensex tumbling nearly 844 points, in line with weak global market trends and foreign fund outflows. The 30-share BSE benchmark slumped 843.79 points or 1.46 per cent to settle at 57,147.32. During the day, it tanked 940.71 points or 1.62 per cent to 57,050.40.
Equity markets maintained their winning momentum for the second day in a row on Thursday, with the Sensex surging over 874 points, propelled by index majors Reliance Industries, Infosys and HDFC twins amid a mixed trend in global markets. The BSE benchmark Sensex zoomed 874.18 points or 1.53 per cent to finish at 57,911.68. During the day, it jumped 954.03 points or 1.67 per cent to 57,991.53. The NSE Nifty rallied 256.05 points or 1.49 per cent to 17,392.60.
Since March 31, 2022, the PSBs' market cap has risen 43.7 per cent, from Rs. 7.29 trillion to Rs. 10.47 trillion. It's time for the government, the majority owner of public sector banks, to reap the benefit of the rally in bank stocks, recommends Tamal Bandyopadhyay.
Purnendu Maji and Srinivas Bhogle list IPL 2020's 50 Most Valuable Players up to Game 41.
The Hinduja group is learnt to have backtracked from making a minimum Rs 8,950-crore offer for Reliance Capital (RCap) - a deal that it had belatedly put forth in December, after Torrent Investments emerged as the highest bidder for the bankrupt firm in the challenge process. The Hindujas' latest move has put Indian lenders, with an exposure of Rs 24,000 crore, in a spot as it was the former's revised offer that led to a call for a second auction and litigation by Torrent, which had placed a bid of Rs 8,649 crore in the first auction. Torrent has moved the Supreme Court and plans to wait for the apex court verdict before participating in any fresh auction. A banking source said there was an informal meeting of a few lenders of Reliance Capital with the bidders - the Torrent group and the Hinduja group on Friday when the latter changed its stand. The meeting of RCap's committee of creditors (CoC) is scheduled for Monday.
Benchmark BSE Sensex rose by 160 points on Thursday in choppy trade following gains in select banking and auto counters amid mixed global cues. The 30-share index gained 160 points to settle at 62,570.68 as 13 of its components advanced while 17 declined. The barometer opened lower but later gained momentum to touch a high of 62,633.56 in the day's trade.
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Benchmark indices ended nearly 1 per cent lower on Wednesday, tracking a weak trend in global markets and continuous foreign fund outflows. The 30-share BSE Sensex fell 509.24 points or 0.89 per cent to settle at 56,598.28. During the day, it tanked 621.85 points or 1.08 per cent to 56,485.67. Similarly, the broader NSE Nifty declined 148.80 points or 0.87 per cent to end at 16,858.60.
IndusInd Bank was the top loser in the Sensex pack, shedding around 5 per cent, followed by Kotak Bank, HUL, Titan, Bajaj Finserv and HDFC. NSE Nifty plunged 263.20 points to 16,985.20.
A day after suffering their worst session in about two years, benchmark indices Sensex and Nifty rebounded up to 2.5 per cent on Friday, in line with higher global markets as the US and allies put up a united front to punish Russia with harsher sanctions over the Ukraine conflict. Snapping their seven-day losing streak, the BSE Sensex climbed 1,328.61 points or 2.44 per cent to settle at 55,858.52, while the NSE Nifty went soared 410.45 points or 2.53 per cent to 16,658.40. Barring HUL and Nestle, all Sensex shares closed with gains -- with Tata Steel, IndusInd Bank, Bajaj Finance, NTPC and Tech Mahindra surging as much as 6.54 per cent.
The global turmoil in the banking sector has made analysts cautious, who advise that investors stay away from stocks of this sector till the overall sentiment improves. The recent trouble for the banking sector started with the collapse of US-based Silicon Valley Bank (SVB), Silvergate Capital and Signature Bank. On its part, Moody's Investors Service has also cut its outlook for the US banking system to 'negative' from 'stable', citing the run on deposits at these three banks that led to the collapse of these banking majors in less than a week.
ITC, Sun Pharma, Maruti, M&M, Tata Motors, HCL Tech, Wipro, Infosys, HUL, Bharti Airtel and Reliance were among the major losers. Kotak Bank rose the most by 1.59 per cent, followed by IndusInd Bank, Bajaj Finance and Bajaj Finserv. L&T, SBI, TCS and HDFC Bank also closed higher.
Equity benchmark Sensex plunged by 554.05 points on Tuesday, tracking deep losses in realty, auto and metal stocks amid widespread selling pressure in global markets. The 30-share index slumped by 554.05 points or 0.90 per cent to end at 60,754.86. The broader NSE Nifty fell by 195.05 points or 1.07 per cent to 18,113.05.
Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
Purnendu Maji and Srinivas Bhogle list IPL 2020's 50 Most Valuable Players before the IPL 2020 Final.
IndusInd Bank was the top gainer in the Sensex pack, spurting over 5 per cent, followed by Bajaj Finserv, HCL Tech, Bajaj Finance, Kotak Bank and Axis Bank. NSE Nifty jumped 203.15 points to 17,780.00.
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