Business confidence remained positive in August and was driven by upbeat forecasts of sales, an expected improvement in demand and promotional activities
Markets staged a smart recovery in late trades to end higher on Tuesday, amid firm global cues, led by index heavyweights ITC and Reliance Industries.
Yes Bank was the biggest gainer in the Sensex pack, soaring 6.04 per cent, followed by IndusInd Bank, Tata Steel, HeroMotoCorp, Sun Pharma, Bajaj Auto, Power Grid, Tata Motors, SBI and Kotak Bank that gained up to 5.32 per cent.
Top other laggards in the Sensex pack included Tata Motors, Maruti, Axis Bank, Bharti Airtel, RIL, NTPC, Bajaj Auto, Asian Paints, ITC, Kotak Bank, Bajaj Finance and TCS, falling up to 5.10 per cent.
After swinging 439 points during the day, the 30-share Sensex ended 141.33 points, or 0.38 per cent, lower at 37,531.98. It hit an intra-day low of 37,480.53 and a high of 37,919.47.
The broader NSE Nifty gained 17.35 points or 0.16 per cent to end at 10,997.35.
Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent.
The broader NSE Nifty rose 32.15 points or 0.29 per cent to settle at 11,284.30.
Markets pared early gains and ended on a flat note, weighed down by profit-taking in Oil & Gas and Auto shares. The Sensex ended at 17,850 - up three point. Nifty ended flat at 5,415.
The 50-share Nifty plunged by 134.75 points or 1.23 per cent to close at 10,862.60 points as 38 of its constituents declined.
On the employment front, services employment was unchanged in April.
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.
Out of 2,895 stocks traded, 1,113 shares declined while 1,019 shares advanced.
Auto shares gain while banks, realty drop
The broader NSE Nifty sank 252.55 points, or 2.14 per cent, to 11,558.60.
Top gainers in the Sensex pack were Tata Motors, ONGC, Yes Bank, IndusInd Bank and Vedanta -- rising up to 2.71 per cent.
Top gainers in the Sensex pack included Yes Bank, Sun Pharma, IndusInd Bank, Tata Steel, HUL, Vedanta, Tata Motors, ICICI Bank, ITC, HDFC and Bajaj Auto, that rose up to 3.75 per cent.
For the past few years the top brass at Pearson did pretty well to grapple with the threat of digital disruption.
The IOC and the Japanese government postponed the Games last month until July 2021 because of the impact of the coronavirus outbreak. It will be impossible to host the Tokyo Olympic Games next year unless the coronavirus pandemic is contained, Japanese Prime Minister Shinzo Abe said.
In the Sensex pack, Yes bank emerged as the biggest loser, falling 9.13 per cent, followed by IndusInd Bank (6.6 per cent), HeroMotoCorp (6.01 per cent), Sun Pharma (4.79 per cent) and SBI (4.70 per cent).
The overall market breadth was negative as 1,989 stocks declined against 882 advancing ones, on the BSE.
Tata Motors was the biggest loser in the Sensex pack, cracking 4.56 per cent. Bajaj Finance, RIL, Yes Bank, NTPC and Tata Steel too fell up to 3.95 per cent.
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
Bajaj Finance was the top loser in the Sensex pack, tanking over 10 per cent, followed by Axis Bank, Maruti, M&M, Tech Mahindra and ONGC. The gainers included ITC, Bharti Airtel, Kotak Bank and Hero MotoCorp.
On the Sensex chart, losses were mainly driven by Hero MotoCorp, Tata Motors, Axis Bank, Tata Steel, Maruti and SBI -- falling as much as 6.19 per cent.
The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03.
The services sector had slipped into contraction in July as confusion caused by the GST rollout triggered a dip in new business orders.
A reading above 50 represents expansion while one below means contraction.
Yes Bank gained the most, spurting 5.94 per cent. Bajaj Finance, Hero MotoCorp, TCS, HUL, Bajaj Auto, HCL Tech, Infosys, SBI, M&M, ICICI Bank and Tata Motors rose up to 1.65 per cent.
Firms seem to have adopted a wait-and-see approach on their plans until public policies become clearer upon the formation of a government.
Infosys was the top gainer in the Sensex pack, closing 7.20 per cent higher as investors cheered its financial results. The IT major posted better-than-expected 5.3 per cent rise in its June quarter net profit, and raised revenue growth forecast for the current fiscal.
The Nikkei Markit India Manufacturing Purchasing Managers' Index increased to 50.7 in February
The broader NSE Nifty ended 57 points, or 0.49 per cent, lower at 11,498.90 in its fourth straight day of losses.
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
Reflecting a loss of "growth momentum", manufacturing activities in the country slowed down to a six-month low in March amid softer increases in new orders, production and employment, according to a survey.
A reading above 50 indicates expansion while a one below this level means contraction.
Yes Bank topped the gainers' list on the Sensex. It was followed by HDFC, Bajaj Finance, HDFC Bank, ICICI Bank, L&T, SBI, Axis Bank and Kotak Bank -- rallying up to 5.24 per cent.
Japan's Asahi Shimbun, an official partner of the Tokyo 2020 Olympics, called for the Summer Games to be cancelled in an editorial
This is the 22nd consecutive month that the manufacturing PMI has remained above the 50-point mark.
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