IndusInd Bank was the top gainer in the Sensex pack, rising around 2 per cent, followed by Axis Bank, HDFC, ICICI Bank, HDFC Bank, Kotak Bank and SBI. On the other hand, ONGC, Tech Mahindra, NTPC, Sun Pharma and TCS were among the laggards.
M&M was the biggest gainer in the Sensex chart, rising 6.51 per cent, followed by NTPC, PowerGrid, SBI, HDFC Bank, Asian Paints and Wipro. In contrast, Axis Bank, ITC, HUL, Nestle India and Sun Pharma were among the laggards.
Among major Sensex movers, Ultratech Cement rose over 4 per cent, Bajaj Finance by 2.63 per cent and Maruti by 2 per cent. BSE Sensex closed up by 133.14 points at a record high of 47,746.22. NSE Nifty rose by 49.35 points at its lifetime high of 13,981.95.
Kotak Bank was top loser among Sensex stocks, dropping by 3.28 per cent. HDFC Bank declined by 1.86 per cent, HDFC by 1.28 per cent and ICICI Bank by 0.99 per cent. SBI fell 0.5 per cent while Bajaj Finance by 0.72 per cent. Larsen & Toubro dropped 0.16 per cent.
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
Sensex has shed over 150 points in afternoon trade.
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
The decision will embolden populists across the continent.
Nifty ends above 8,600; Tata Motors, RIL top leaders
While Nifty 50 reflects changes in 40 years, it also shows what is missing: Low-cost manufacturers at one end, and deep-value players at the other. Also missing are technology players, observes T N Ninan.
Stock specific action is seen with some of the prominent companies posting their quarterly numbers.
Citing the impact of the second wave of the pandemic over the economy and consumer sentiment, Swiss brokerage Credit Suisse has lowered its nominal GDP growth forecast by 150-300 bps to 13-14 per cent, but expects a stronger recovery in the second half as it sees the lockdowns having limited impact on tax collections. Last month, Neelkanth Mishra, the co-head of equity strategy for Credit Suisse Asia Pacific, and India equity strategist, had told PTI that he expected the real GDP to fall to 8.5-9 per cent in FY22 due to the more severe pandemic attack. The virus case load has crossed the 25-million mark, death toll from the same is nearing 2.9 lakh mark, which is one of the highest in the world as the test positivity rate has been around 15 per cent for long.
Snapping its 3-day winning spree against the American currency, the rupee on Wednesday dropped by 21 paise to end at 66.64 on fag-end dollar demand from banks and importers despite a sharp rally in domestic equities.
Based on a feedback, the exchange could cap a sector's weight at 25 per cent, or align with the broader market.
Maruti Suzuki, Asian Paints, L&T, ONGC and Infosys have gained between 1%-1.5%.
Mixed global cues and decline in crude oil prices further dent the sentiments.
Broader market outperformed the benchmark indices with S&P BSE Midcap gaining over 1%
Asian Paints was the top gainer after the paints major posted robust first quarter earnings.
The Sensex has slid 18.5 per cent from its January 2015 peak.
There are few strategies to invest safely in a volatile market.
Participants are keenly awaiting the rollovers to the next series ahead of the expiry of June F&O.
The regional fallout could continue.
Sensex, Nifty have lost about 6%, against 0.5-5% decline in other key Asian indices.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
TCS, ICICI Bank, Sun Pharma,Tata Motors and HDFC among the top losers for the day
Investors widened their bets on optimism that upcoming general budget -- to be unveiled next month - would contain incentives for corporates, which will help boost the economy
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
Stocks of companies having operations and exports to Europe were the top losers.
Investor sentiment got a boost following remarks from the Russian President Putin that allayed fears of an imminent military conflict in Ukraine
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
The broader markets outperformed the benchmark indices- BSE Midcap and Smallcap indices gained 0.4% each
In the Sensex pack, Vedanta took the biggest hit (5.55 per cent), followed by Tata Motors, SBI, Yes Bank, Bharti Airtel and Infosys, which lost up to 4.50 per cent.
The rally in index heavyweight ITC has boosted the sentiment across the board.
Gains were led by index heavyweights with Reliance Industries contributing the most.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
Losers included Bharti Airtel, SBI, Wipro, Vedanta, Maruti Suzuki, ICICI Bank, Axis Bank and Reliance Industries, falling up to 2.18 per cent.
The dollar is king in an intermediate correction, says Sonali Ranade
In India, however, the Nifty continues to climb a wall of worry as general elections loom, fiscal deficit surges and the current account deficit is barely under control following subdued gold and crude prices, says Sonali Ranade.
Time to take profits and move to the sidelines in an euphoria, says Sonali Ranade
