Market benchmark Sensex tumbled over 323 points after an intense last-hour sell-off on Wednesday, triggered by losses mainly in index heavyweights Infosys, Reliance and HDFC.
The BSE Sensex maintained its winning run for the fourth session on the trot on Wednesday to reclaim the 60,000-level after a gap of over four months as investors remained upbeat amid softening crude oil prices and persistent foreign fund inflows. A strengthening rupee and positive Asian markets further bolstered sentiment, traders said. The 30-share BSE benchmark jumped 417.92 points or 0.70 per cent to settle at 60,260.13 -- closing above the psychologically key 60,000-mark for the first time since April 5 this year.
Despite Prime Minister Narendra Modi's tall claims that no one has served nature more than India, some of the steps taken by his BJP government proves that the ground reality is exactly opposite, says Devanik Saha.
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
Mid- and small-cap indices have outperformed the frontline benchmarks - the S&P BSE Sensex (up around 10 per cent) and the Nifty50 (13 per cent) - in the first half of calendar year 2021 (H1-CY21) by rallying 26 per cent and 39 per cent, respectively. The trend, analysts believe, is likely to continue in H2-CY21 as well. The outperformance in H1-CY21 comes on the back of improved earnings and strong inflows from the foreign portfolio investors (FPIs) in Indian equities. However, good monsoon so far, gradual opening up of the economy and the pick-up in the pace of vaccination provides support to the market.
M&M was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, Hero MotoCorp, RIL, Titan and Bajaj Auto. On the other hand, ONGC, Tech Mahindra, PowerGrid, Infosys and Kotak Bank were among the laggards.
The 30-share Sensex ended 50 points lower at 28,112 and the 50-share Nifty declined 12 points to close at 8,531.
'...to come back to power because it was not doing well.'
Equity indices gave up early gains to close in the red for the third session on the trot on Wednesday, weighed by selling in banking and finance counters amid inflationary pressures and persistent foreign fund outflows. A weak rupee and lacklustre global cues also kept buying sentiment in check, traders said. The 30-share BSE Sensex opened on a firm footing but failed to hold on the momentum, finishing 237.44 points or 0.41 per cent lower at 58,338.93. On similar lines, the broader NSE Nifty dipped 54.65 points or 0.31 per cent to close at 17,475.65.
Industrial production growth entered positive territory after a gap of two months with a record 22.4 per cent rise in March this year, mainly due to the low-base effect and good show by manufacturing, mining and power sectors. The manufacturing sector -- which constitutes 77.63 per cent of the index of industrial production (IIP) -- grew by 25.8 per cent in March 2021, as per the data released by the National Statistical Office (NSO) on Wednesday. The mining sector output too grew 6.1 per cent in March, while power generation increased by 22.5 per cent.
Industrial production contracted by 1.9 per cent in November, entering the negative territory after a two-month gap, mainly due to poor showing by manufacturing and mining sectors, official data showed on Tuesday. The manufacturing sector -- which constitutes 77.63 per cent of the index of industrial production (IIP) -- recorded a contraction of 1.7 per cent in November 2020, as per data released by the National Statistical Office (NSO). Mining sector output too witnessed a decline, shrinking 7.3 per cent.
The BSE Metal index surged 1.6% to 12,364. The BSE Bankex, Consumer Durables, FMCG, Oil & Gas and Auto indices advanced over 1% each. The market breadth was marginally negative - out of 2,725 stocks traded, 1,411 declined, 1,212 advanced and 102 were unchanged on Friday.
The NSE Nifty ended at 4,235, down 78 points. The market breadth was negative- out of 2,675 shares traded, 1,493 declined and 1,114 advanced on the BSE.
Sustained buying in heavyweights like L&T, Reliance and ICICI Bank and power scrips (BHEL, NTPC and REL) saw the index zoom to a high of 17,838 - an intra-day gain of nearly 890 points - towards the closing bell. The NSE Nifty finished with a gain of 273 points (5.5%) at 5,202.
The Sensex opened with a positive gap of 56 points at 15,806 and moved up to a high of 16,003 in late morning deals. The Sensex finally closed with a gain of 82 points at 15,832. Satyam, Wipro, TCS, Infosys, HUL, Reliance, Tata Steel and Hindalco were major gainers. BHEL, Reliance Energy, Maruti and M&M were major losers. Reliance Capital was the most active counter with a turnover of Rs 250 crore followed by GSS America (Rs 245cr), also BHEL, Reliance Petroleum and Reliance.
The broader NSE Nifty, after shuttling between 10,651.60 and 10.532.70 points on alternate bouts of buying and selling, closed 6.20 points, or 0.06 per cent, down at 10,576.30.
Asian shares ended higher following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election.
The markets breadth was negative - out of 2,717 stocks traded, 1,804 declined, 842 advanced and 71 were unchanged on Thursday. The index moved in a range of 207 points between 15,052 (low) and 15,259 (high). The NSE Nifty ended with a loss of 78 points at 4,504.
The market breadth was negative - out of 2,716 stocks traded, 2,066 declined, 600 advanced and 50 were unchanged on Monday. The NSE Nifty ended with loss of 130 points at 4,740.
The Sensex opened with a positive gap of 108 points at 20,836 and touched a high of 20,873 in early deals. The index slipped into negative zone soon, and exhibited a weak trend for the rest of the trading day.
All the sectoral indices, too, rallied sharply today. The BSE IT index zoomed over 6% (261 points) to 4582. The BSE Bankex, Power, PSU and TECk indices moved up 3-5% each today.
The Sensex finally ended with a gain of 240 points at 19,603. The Nifty gains 102 points at 5,865.
The Nifty lost 83 points to close at 3,466.
The NSE Nifty ended at 4,446, up 59 points.
Leader of Opposition Mallikarjun Kharge, speaking on the Motion of Thanks on the President's address, charged the government with not delivering on its various promises, including generating two crore jobs per year.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
The Sensex opened with a positive gap of 145 points at 15,840. It finally closed with a gain of 113 points (0.72%) at 15808. BHEL moved up 3.7% to Rs 1,830. L&T added 3.6% at Rs 2,774. Reliance Energy gained 2% at Rs 1,281.Reliance advanced over 3% to Rs 2,550. Satyam, SBI, Hindalco, M&M and RCom also finished with gains. Ambuja Cements, Infosys, ICICI Bank, HUL and ITC declined. Reliance was the most active counter with a turnover of Rs 361 cr followed by Reliance Petroleum.
Government-owned companies are more generous in rewarding their shareholders with dividends.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
He said India has also opened its defence industry 'like never before' and sought investments in the sector.
HUL, ITC, Nestle, Colgate, Dabur, Britannia, Asian Paints, P&G are trading at nearly 48 times. The previous record high was 53 times at the end of March 1994.
Shares of IT companies were in focus with the Nifty IT and S&P BSE IT index gaining more than 2% in an otherwise lower market
RBI targets to keep inflation at 4 per cent, (+/- 2 per cent), and its rise beyond this comfort zone will put pressure on the central bank to hike rates.
The fare will be cheaper as it will be capped at Rs 2,500 per passenger.
Fortune's third annual 'World's 50 Greatest Leaders' list features men and women from across the globe from the fields of business, government, philanthropy and the arts who are "transforming the world and inspiring others to do the same."
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
The broader NSE Nifty cracked below the key 10,400-mark to touch a low of 10,336.30, before finally ending 15.95 points, or 0.15 per cent, down at 10,410.90.
The broader NSE Nifty, after cracking below the key 10,300-mark, touched a low of 10,211.25, before finally ending 134.75 points, or 1.30 per cent, down at 10,226.55.
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