The 30-share BSE Sensitive Index slipped into the negative region after opening firm.
Earnings growth is expected to accelerate as lingering toxic effects of note ban ease off and GST settles down. However, stock valuations are high and that means market is also overdue for correction, says Devangshu Datta.
The market breadth was weak. Out of 2902 stocks traded on the BSE, there were 1116 advancing stocks as against 1660 declines.
The market breadth was weak. Out of 2873 stocks traded on the BSE, there were 1311 advancing stocks as against 1446 declines.
Shares of small-cap companies have been on a roll with the S&P BSE Small-Cap index hitting a new high in intra-day deals on Thursday. The rally has been fueled by an up move in stocks of chemicals, cement, graphite electrode makers, pharmaceuticals and information technology (IT) shares. In the past two weeks, since March 25, the index has outperformed the market by gaining 7.3 per cent. In comparison, the S&P BSE Midcap index was up 6.1 per cent, while the S&P BSE Sensex gained 3.6 per cent during the same period.
The markets have opened on a lacklustre note in the absence of major cues from the US markets that were closed on account of Independence Day holiday. The Sensex is down 15 points at 17,448. Nifty is flat at 5299.
The broader market outperformed the benchmark indices as focus shifted to value buying in mid-cap and small-cap shares after the sharp gains on Friday. The Sensex was down 31 points at 17,399 and the Nifty closed flat at 5,278.
The market breadth was negative. Out of 2,855 stocks traded on the BSE, there were 1086 advancing stocks as against 1,642 declines.
The Nifty ended at 5833, down 34 points.
The Nifty dropped 10 points to close the day at 5,874.
On a net basis, foreign portfolio investors bought Rs 446 crore worth of domestic stocks on Thursday and domestic institutional investors (DIIs) were net buyers to the tune of Rs 49.68 crore, provisional data available with BSE suggested.
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Nifty lost further ground below the 5400 mark at 5311, down 84 points.
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The Nifty ended at 5650, up 23 points. The market breadth was positive. Out of 2964 stocks traded on the BSE, there were 1768 advancing stocks as against 1073 declines
The Nifty ended at 5452, up 35 points. The market breadth was marginally positive. Out of 3085 stocks traded on the BSE, there were 1505 advancing stocks as against 1413 declines.
Out of 3018 stocks traded on the BSE, there were 956 advancing stocks as against 1946 declines.
On a day when the Asian markets had a healthy session of trade and European markets were also looking in a robust state, the bourses back home remained mired in the confusion that has been their Archilles heel for a prolonged period of time.
Out of 2,939 stocks traded on the BSE, there were 1,438 advancing stocks as against 1,378 declines.
Nifty PSU bank index dropped nearly 2%
The Nifty lost 45 points to settle for the day at 5,348, up 19 points from the day's low of 5,329.
The Nifty shed 18 points to end at 5,420.
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Nifty shed nine points to close at 5,541.
Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.
The benchmark indices surged by as much as 9% during the past week till Thursday to post their highest returns in 21 months, buoyed by the upbeat sentiment on the global market front.
The market breadth was negative. Out of 2940 stocks traded on the BSE, there were 1392 advancing stocks as against 1449 declines.
The Sensex, which had soared by around 600 points in the aftermath of the FM's speech, surrendered more than 400 points from intra-day highs and slipped below the 18k mark to end up a mere 122 points at 17823 and the Nifty ended up 30 points at 5333.
The broader markets underperformed; the midcap index ended at 6662, down 133 points and the smallcap index ended at 8131, down 193 points.
The European indices, including the FTSE, CAC and DAX, had trading in a directionless manner in the middle of the day.
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