Analysts say traders have been building long positions on expectations the BJP would sail through in the five Assembly elections
The Sensex ended at at 27,676, lower by 210 points and the Nifty broke the psychological level of 8,400 to end at 83877 down 70 points.
Investor wealth plummeted by nearly Rs 5 lakh crore in early trade on Monday as equity markets crashed tracking global equity selloff amid rising uncertainty over the economic impact of coronavirus outbreak. Market capitalisation (m-cap) of BSE-listed companies saw a massive decline after the 30-share index plunged 1515.01 points, or 4.03 per cent, to 36,061.61. The NSE Nifty too cracked 417.05 points, or 3.80 per cent, to 10,572.40.
The stock was the top gainer among the blue-chips on both Sensex and Nifty.
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Investor wealth slumped by Rs 1.55 lakh crore on Thursday today, dragged down by massive selling in the stock markets where nearly seven out of ten shares closed lower.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
Costlier oil due to rising conflict in Iraq threatens to hurt the India economy that is already battling price rise and slowing growth.
Auto stocks are weighing on the indices.
The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400.
Axis Bank was the top loser in the Sensex pack, tanking over 28 per cent, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T. NSE Nifty nosedived 1,135.20 points or 12.98 per cent to settle at 7,610.25.
Financials were the top losers after sharp gains in the previous session along with ITC
The 30-share Sensex ended 53 points higher at 28,439 and the 50-share Nifty closed 18 points higher at 8,494.
The 30-share Sensex ended down 39 points at 26,265 and the 50-share Nifty ended down 1 point at 7,954.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
India is Asia's third-best performing equity market.
Top companies in China are valued at 7.7 times the trailing 12-month earnings against a P/E ratio of 18.6 times for Nifty 50 companies.
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Bigger and broader indices do relatively poorly as investors get selective; experts see opportunity if scrips chosen with care.
Maruti Suzuki, Asian Paints, L&T, ONGC and Infosys have gained between 1%-1.5%.
Market players said the sell-off was triggered by pessimism that the government may not be able to balance growth with macro-stability.
BSE Metal and Capital Goods indices plunged over 2% followed by counters like Consumer Durables, Auto, Banks and Realty, all falling down between 1-2%.
From the Sensex pack, Mahindra & Mahindra climbed 3.81 per cent and Axis Bank advanced 2.68 per cent, followed by Tata Motors, Larsen & Toubro, Tata Steel, ICICI Bank, Reliance Industries, Maruti, IndusInd Bank and Sun Pharma. Asian Paints, Tech Mahindra, Nestle, Hindustan Unilever, Kotak Mahindra Bank and ITC were among the laggards.
Nifty crosses 9,750-mark; Bharti Airtel, TCS, Wipro, Lupin and Coal India gained the most on BSE Sensex
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
According to a report by BofA-ML, capital markets are 'usually jittery prior to the declaration of election results as it is uncertain about the outcome'.
Investors are pushing back more often against companies' resolutions on what is paid out to top executives. In the first four months of financial year 2022-23 (FY23), there have already been five such rejections, according to shareholder voting data from tracker Adrian, a platform maintained by the proxy advisory firm Institutional Investor Advisory Services India (IiAS). Two of these have been at multiplex chain PVR and direct-to-home company Dish TV India.
Bombay Stock Exchange Sensex closed 30 points lower at 21,140 levels.
According to Merrill Lynch (BofA-ML) report, Domestic capital markets are likely to remain volatile in the September-November period due to factors like US Fed's policy action, second quarter corporate earnings and Bihar state elections.
The 30-share BSE index reclaimed the 30,000-mark to trade at a new record high of 30,071.61 by surging 128.37 points, or 0.42 per cent. This surpassed the previous record high of 30,024.74 (intra-day) that the Sensex touched on March 4, 2015.
Through the past 12 months, the Bank Nifty has risen 55%
Besides foreign flows, corporate earnings and US Federal Reserve chief Janet Yellen's testimony to the nation's legislature are also likely to impact investor sentiment.
Markets ended in green on rate cut hope.
Sensex gains 2.4%, Nifty crosses 7,000; investors feel exit polls have vindicated their stand
India's premium benchmark equity index, the S&P CNX Nifty, also the fastest growing index on SGX, will be traded for 16 hours on that exchange, compared to the six-and-a-half hours that it traded on the National Stock Exchange in India. The SGX will be traded from 6.30 am to 10.30 pm IST.
Any change in rates would mean more volatility; else, poll outcome-fuelled rally expected to continue.
The inclusion of Tata Consultancy Services in the BSE Sensex from June may act as a drag on it in the same way as it dampened movement in the Nifty since April 19, when the company announced its disappointing Q4 results.
