The recovery was led by pharma majors led by Dr Reddy's Labs.
Equity indices made an emphatic comeback on Friday after falling for seven straight sessions after the RBI hiked interest rates by 50 basis points on expected lines and projected inflation coming under control from January next year. A strong recovery in the rupee added to the momentum, traders said. Overcoming a wobbly start, the 30-share BSE Sensex soared 1,016.96 points or 1.80 per cent to settle at 57,426.92. During the day, it rallied 1,312.67 points or 2.32 per cent to 57,722.63.
The HDFC duo was the top laggard in the Sensex pack, shedding nearly 4 per cent, followed by PowerGrid, Tech Mahindra, ICICI Bank, ONGC, Kotak Bank, Asian Paints, Infosys and Reliance Industries. NSE Nifty slumped 154.40 points to 14,690.70.
Bajaj Finance was the top loser in the Sensex pack, shedding over 2.5 per cent, followed by SBI, Bajaj Finserv, Tata Steel, Asian Paints and Axis Bank. NSE Nifty dipped 15.40 points to 15,763.05.
IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by HUL, ONGC, ICICI Bank, Axis Bank, Kotak Bank, M&M and Tech Mahindra. NSE Nifty tumbled 154.25 points to 14,696.50.
IT majors weakened ahead of the September US jobs data and telecom stocks ended lower
Titan was the top laggard in the Sensex pack, shedding 1.39 per cent, followed by HDFC, Axis Bank, Kotak Bank, HCL Tech and Tech Mahindra. On the other hand, Asian Paints, SBI, M&M, TCS, Bajaj Finserv and ICICI Bank were among the winners, spurting as much as 3.25 per cent.
Titan was the top gainer in the Sensex pack, soaring nearly 7 per cent, followed by ONGC, L&T, Kotak Bank, Axis Bank, Bajaj Finance and HDFC Bank. NSE Nifty soared 114.15 points to end at its lifetime peak of 15,690.35.
Index heavyweights were the top losers along with bank shares.
Tata Steel was the top gainer among the Sensex constituents, surging around 6 per cent, followed by SBI, HDFC Bank, Bajaj Finance, Axis Bank, LT, Maruti, IndusInd Bank and HDFC. NSE Nifty touched a fresh intra-day high of 12,934.05.
Earnings growth, attractive valuations and change in FPI flows from negative to positive over the next 12 months are some of the key triggers for an upside. "A poor monsoon, high inflation and further rate hike are some of the key risks
In Indian context, among top gainers on the spot National Commodity and Derivatives Exchange, is coriander that saw its price moving up nearly 38 per cent (year-to-date, or YTD).
IndusInd Bank was the top loser in the Sensex pack, shedding around 3 per cent, followed by Dr Reddy's, NTPC, Maruti, Axis Bank, Bajaj Auto, Bharti Airtel and HDFC. NSE Nifty declined 76.15 points to 15,691.40.
On the Sensex chart, HDFC, L&T, SBI, Axis Bank, Bajaj FinServ and HDFC Bank were major laggards - dropping up to 2.62 per cent. NSE Nifty closed with a loss of 164.85 points at 15,080.75.
Bajaj Finance was the top gainer in the Sensex pack, rising around 2 per cent, followed by Sun Pharma, Tech Mahindra, Axis Bank, Bajaj Auto and Infosys. NSE Nifty rose 76.40 points to 15,174.80.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
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.
Powered by a rally in index heavyweight Reliance Industries, equity benchmark Sensex broke its four-session losing run to close above the 55,000-mark on Thursday despite a weak trend overseas. Investors made a cautious return to IT, pharma and bank stocks after their recent sell-off. However, a depreciating rupee and persistent foreign fund outflows capped the gains, traders said. Overcoming a lacklustre start, the 30-share BSE Sensex surged 427.79 points or 0.78 per cent to close at 55,320.28.
Equity indices failed to hold on to their gains in see-saw trade on Tuesday, ending in the red for the third straight session despite a tentative recovery in global equities. The rupee too bounced back from historic lows, but the overall sentiment remained risk-averse amid concerns over economic recovery in a high interest rate scenario. The 30-share BSE Sensex had a choppy start but gained momentum in mid-session trade. However, it succumbed to selling pressure towards the fag end to close 105.82 points or 0.19 per cent lower at 54,364.85. On similar lines, the broader NSE Nifty declined 61.80 points or 0.38 per cent to finish at 16,240.05.
L&T was the top gainer in the Sensex pack, rallying over 4 per cent, followed by Dr Reddy's, Sun Pharma, NTPC, IndusInd Bank, PowerGrid, ONGC and M&M. NSE Nifty jumped 119.20 points to 14,942.35.
ONGC was the top loser in the Sensex pack, shedding around 5 per cent, followed by SBI, Axis Bank, ICICI Bank, Bajaj Auto and Maruti. On the other hand, IndusInd Bank, HUL, Dr Reddy's, NTPC and Reliance Industries were among the gainers.
Maruti was the top loser in the Sensex pack, shedding around 4 per cent, followed by Bharti Airtel, HUL, NTPC, Bajaj Finance, UltraTech Cement, ONGC and Reliance Industries. NSE Nifty declined 224.50 points to 14,324.90.
The 30-share Sensex ended down 245 points at 28,799 and the 50-share Nifty closed down 81 points at 8,750
Titan was the top loser in the Sensex pack, shedding over 4 per cent, followed by IndusInd Bank, Reliance Industries, Axis Bank, Kotak Bank, ONGC, ITC and ICICI Bank. NSE Nifty closed 3.05 points higher at 14,634.15.
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
HDFC twins were the top losers in the Sensex pack, shedding over 4 per cent, followed by ICICI Bank, Kotak Bank, Asian Paints, M&M, HUL, TCS and Maruti. NSE Nifty tanked 263.80 points to 14,631.10.
The broader markets, however, outperformed their larger peers.
NTPC was the top gainer in the Sensex pack, rallying over 4 per cent, followed by HUL, PowerGrid, Reliance Industries, ITC, UltraTech Cement and Bajaj Finance. NSE Nifty surged 186.15 points to finish at 14,744.
ONGC was the top loser in the Sensex pack, declining around 5 per cent, followed by NTPC, Sun Pharma, SBI, IndusInd Bank, Bajaj Auto, PowerGrid and RIL. NSE Nifty slumped 189.15 points to 14,721.30.
Despite gold prices hitting record highs, analysts aren't gung-ho about the outlook for gold financiers Muthoot Finance and Manappuram Finance. This, they said, was due to intense competition from banks, coupled with stagnating loan books and likely pressure on margins.
Equity benchmarks mustered gains for the first time this week on Thursday as investors piled into the recently-battered metal, bank and IT stocks amid expiry of monthly derivative contracts. Snapping its three-session losing streak, the 30-share BSE Sensex rallied 503.27 points or 0.94 per cent to settle at 54,252.53. On similar lines, the broader NSE Nifty gained 144.35 points or 0.90 per cent to end at 16,170.15.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
Sensex hit a record high of 27,225.85 and Nifty hit a record high of 8,141.90 in the intra-day trades today.
Equity investors became poorer by over Rs 6.71 lakh crore on Thursday as domestic benchmark indices tumbled amid a global market meltdown. The 30-share BSE benchmark Sensex tanked 1,416.30 points or 2.61 per cent to settle at 52,792.23, tracking weak global markets and persistent foreign fund outflows. In line with the weak market trend, the market capitalisation of BSE-listed firms tumbled by Rs 6,71,051.73 crore to stand at Rs 2,49,06,394.08 crore.
Benchmark indices started the trade on a weak note on Wednesday with the Sensex falling 564.77 points, following feeble global market trends and persistent foreign capital outflows. The 30-share BSE Sensex was trading 564.77 points lower at 52,612.68. The NSE Nifty dipped 162.4 points to 15,687.80. Among the Sensex pack, IndusInd Bank, Hindustan Unilever, Bajaj Finserv, Titan, Kotak Mahindra Bank and Bajaj Finance were the major laggards in early trade.
All the sectoral indices, led by realty, metal, consumer durables and power were trading in the negative zone on Thursday.
Investor wealth slumped by Rs 3.7 lakh crore on Monday, as the equity market recorded its biggest single-day fall in two months.
The sharp correction in equity markets has taken a toll on mid-and-small cap stocks that have underperformed their large-cap peers. Thus far in calendar year 2022 (CY22), the mid-and-small cap indexes on the BSE have slipped over 8 per cent and 7 per cent respectively, as compared to a fall of around 6 per cent in the S&P BSE Sensex. While investors dumped mid-and small-cap stocks as the markets remained choppy over the past few weeks, analysts still expect these two segments to see good investor interest from a medium-to-long term perspective.
Markets recorded their biggest single-day fall since August 1 amid growth concerns in the euro zone.
