On the Sensex chart, NTPC, SBI, UltraTech Cement, ICICI Bank, Tata Steel, Bajaj Finserv and Bjaja Finance were among the major laggards, shedding as much as 1.63 per cent.
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
The S&P BSE Midcap and the S&P BSE Smallcap indices slipped in red to shed over 1% each
On the Sensex chart, Axis Bank, Titan, IndusInd Bank, HDFC Bank, Dr Reddy's, HDFC and Asian Paint were major losers.
'Sectors that had been left out till now will also start participating in the rally.'
The Sensex is quoting at 24,445, higher by 85 points and the Nifty is at 7,282, up 19 points.
In the broader market, the S&P BSE Midcap ended 0.1% down, while the S&P BSE Smallcap index gained 0.3%.
BSE Midcap index outperformed the benchmark indices to end with 0.4% gains.
Reliance was the top gainer in the Sensex pack, surging over 3 per cent, followed by ICICI Bank, Bharti Airtel, Dr Reddy, Maruti and ITC.
The bias for the BSE benchmark index, technical charts suggest, is likely to remain bullish as long as the index holds above 75,600 levels for the rest of the year.
Among the Sensex constituents, 18 stocks closed in negative with UltraTech Cement, L&T, Bharti Airtel, Bajaj Finance and Tech Mahindra being major laggards. Other heavyweights like Asian Paints, Maruti, Titan and JSW Steel also saw heavy selling. In contrast, Kotak Mahindra Bank, Bajaj Finserve, HDFC Bank, ITC and SBI bucked the trend and ended the session with a gain of up to 2.09 per cent.
Yes Bank was the biggest gainer in the Sensex pack, rallying 4.06 per cent. Other gainers were Coal India, Infosys, PowerGrid, Vedanta, Reliance, TCS, HUL, ONGC, HCL Tech, IndusInd Bank, HDFC Bank and Asian Paints, gaining up to 2.72 per cent.
In the broader market, the S&P BSE Midcap added over 1% to finish at record closing high
The mutual fund (MF) industry had an action-packed 2023 as it tackled the scrapping of tax benefits for debt fund investors and surging flows into equity funds.
Since the Budget announcement on July 5, FIIs have been busy unloading their stock.
Wall Street-correlated stock markets are facing the risk of correction, as Christopher Wood, the global head of equity strategy at Jefferies, conveys to investors in his latest edition of GREED & fear. Rising crude oil prices, which are nearing $100 a barrel (Brent), pose a threat to the global central bank's battle against inflation and have led to a re-evaluation of its exposure to Indian stocks. "The potential for more US Federal Reserve (Fed) rate hikes, combined with the risk that monetary tightening finally bites as regards the economy, remains a risk for Wall Street-correlated world stock markets. "There is also the oil factor. This is why GREED & fear continues to believe the pain trade is down. "Areas in Asia, such as Indian midcaps, which have already done very well, are at obvious risk of some profit-taking," writes Wood.
On BSE, 1,469 shares fell and 1,200 shares rose. A total of 190 shares were unchanged.
HDFC Bank, Reliance Industries and ICICI Bank remained among the top mutual fund (MF) buys for the second consecutive month in September. MFs deployed a net of Rs 15,000 crore into these stocks during the two-month period (August-September), revealed Nuvama Alternative & Quantitative Research reports.
Infosys was the top gainer in the Sensex pack, jumping over 4 per cent, followed by Tech Mahindra, Tata Steel, ICICI Bank, ITC, Maruti, SBI and Axis Bank. On the other hand, HCL Tech, M&M, Dr Reddy's, Asian Paints, Bajaj Auto and Bharti Airtel were among the laggards.
The BSE Midcap and the S&P BSE Smallcap indices outperformed to gain 0.6% and 1.1%, respectively
The main gainers on the Sensex were Hindalco, JSPL, SBI, Maruti Suzuki, GAIL, L&T.
rediffGURU Ulhas Joshi answers your mutual fund queries.
Stock markets will be largely driven by global trends in the absence of any major domestic triggers this week, say analysts. The trading activity of foreign investors, global crude oil prices and rupee-dollar movement will also influence market movement, they said. "Anticipating a period of consolidation in the absence of clear global cues, the market's trajectory will likely hinge on the movement of the US bond yields, the dollar index, and crude oil prices, as well as institutional flows.
Given gains in equity prices, it is not surprising that the earnings of asset management companies (AMCs) are growing quicker. The earnings momentum looks set to continue. Good fund performances have thus led to AMC earnings upgrades although valuations are high. Recent market performance and net flow trends have led to earnings upgrades by between 3-8 per cent for FY25-27.
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
ONGC was the top loser in the Sensex pack, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
Prominent exits by promoters included a Rs 15,300 crore share sale in Indus Tower by Vodafone Plc, a Rs 9,300 crore share sale by the Tata group in Tata Consultancy Services.
The S&P BSE Midcap and S&P BSE Smallcap indices hit a new lifetime high
Side indices raced ahead with BSE Midcap and BSE Smallcap advancing 0.4% and 0.3% up, respectively.
The Nifty regained the 6000k mark to end at 6,009, up 48 points.
'.. if you do not want to take the asset allocation call.'' 'This category of funds can offer optimum risk-adjusted returns.'
The mutual fund (MF) industry added a record Rs 10 trillion to its total assets under management (AUM) in 2023, taking the cumulative tally past the Rs 50 trillion mark for the first time, in December. This 20 per cent growth in AUM last year was fuelled by a robust rally in the equity markets and a record Rs 1.62 trillion net inflows into active equity schemes. In another first, the AUM linked to systematic investment plans, too, hit Rs 10 trillion by the end of 2023.
S&P BSE Midcap shed 0.8% while S&P BSE Smallcap tumbled 0.6%
Sectorally, bankex suffered the most by dropping 2.62 per cent, followed by finance 2.44 per cent and realty 1.63 per cent. On the other hand, telecom was among the top sectoral gainers, rising 4.60 per cent. IT index rose 2.62 per cent.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
'The long-term impact of elections is minimal.'
The biggest losers of the session include Reliance, Infosys, TCS, ICICI Bank, HDFC twins, ITC, Maruti, L&T, HUL, Axis Bank, Wipro and IndusInd Bank, cracking up to 4 per cent.
Tata Steel was the biggest gainer in the Sensex pack, rallying 5.78 per cent; followed by Yes Bank, NTPC, L&T, Axis Bank, SBI, M&M, HDFC twins, Vedanta, HUL, PowerGrid, ICICI Bank, Kotak Bank, HCL, TCS and ITC, gaining up to 3.79 per cent.
The market capitalisation of BSE-listed companies soared to an all-time high of Rs 406.52 lakh crore on Monday thanks to a rally in equities where the BSE Sensex climbed over 1 per cent. The 30-share BSE Sensex rallied 941.12 points or 1.28 per cent to finish at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
