Trading in Samvat 2074 on Thursday got off to a rocky start, with the benchmark indices ending more than half a percent lower and the gauge for banking stocks dropping 1.25%.
Last October's circular meant that downstream investment by such funds by way of subscription or acquisition of shares would have been considered "indirect foreign investment" if their investment manager or sponsor is owned or controlled by a non-resident. The finance ministry has now said that mutual funds that invest more than 50 per cent in equity shall be omitted from the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
The broader NSE Nifty sank 177.65 points or 1.53 per cent to 11,419.25.
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.
Investors turned cautious weighing weak GDP numbers and continued drop in automobile sales, bringing banking and auto sector stocks under pressure.
The Sensex ended at 22,877, higher by 118 points and the Nifty ended at 6840, up 25 points.
The broader 50-issue NSE Nifty too slipped from its record high, shedding 10.30 points or 0.09 per cent to end at 11,346.20.
On a weekly basis, the Sensex scored a moderate gain of 76.57 points, or 0.22 per cent while the Nifty rose 8.75 points, or 0.08 per cent.
An appreciating rupee, sustained buying by domestic institutional investors, fresh foreign capital inflows and encouraging start to the earnings season contributed to the uptrend
The stock markets, which had opened in the green on rate cut hopes, tumbled after the monetary policy announcement.
The Sensex sky-rocketed to 22,994, stronger by 650 points, after scaling 23k on an intra-day basis, and ditto with the Nifty, which zoomed by 198 points to end at 6858.
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.
The NSE Nifty after shuttling between 10,397.60 and 10,279.35 points, ended 47 points, or 0.45 per cent lower at 10,301.05.
The BSE Sensex spurted 130.00 points to end at 35,980.93, while the broader NSE Nifty advanced 30.35 points to 10,802.15.
The broader 50-issue NSE Nifty slipped from its record closing, shedding 2.30 points or 0.02 per cent to end at 11,132.00.
The Nifty too slipped below the psychologically important 11,000 mark.
According to experts, the Nifty has continued to form lower top-lower bottom formations, a trend seen in the last five weeks, and witnessed sharp selling towards 9,700 zones.
The wider Nifty hit a low of 10,033.35 before finishing at 10,044.10, down 74.15 points or 0.73 per cent.
Both the Sensex and Nifty, however, registered gains for the week.
The RBI, which has no interest or mechanism to get feedback from bank customers, is unaware of this. If made aware, it remains silent, proving that it has no problem in allowing lenders to short-change its customers, says Debashis Basu.
Overall, in the last five straight sessions, the index has lost nearly 1,129 points.
Stocks of IT, power, healthcare, capital goods, oil & gas, banking and auto were the major drivers.
The 50-share NSE Nifty too lost 34.50 points, or 0.33 at 10,458.35 after shuttling between 10,525.50 and 10,447.15.
An appreciating rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend
The biggest gainers on both the bourses were Reliance Industries, Infosys, NTPC, ONGC, HUL, PowerGrid, Asian Paints, ITC and HCL Tech, rising up to 2 per cent.
.jpg)
Bank stocks have underperformed in the second quarter of FY'14 with the BSE Bankex declining 18 per cent compared to fall of 1 per cent in the BSE 30-stock index, Sensex, during this period.
The broader NSE Nifty after recapturing the 9,900-mark advanced to hit a high of 9,947.80, but ended at 9,904.15, up 6.85 points, or 0.07 per cent.
The broader NSE Nifty after shuttling between 10,451.90 and 10,595.75 finally ended 100.30 points, or 0.96 per cent, higher at 10,582.50.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The 30-share Sensex ended at 21,101.03, up 21 points higher from its previous close and the borader 50-unit Nifty gained 10 points at 6,284.50.
BSE Small-Cap and Mid-Cap indices were up more than 1% each, with both these indices outperforming the Sensex today.
The 30-share BSE Sensex shed 0.9% or 186 points at 20,536 while the 50-unit NSE Nifty was off 1% or 61 points at 6,091.
Macro-economic data from China and minutes of the US Federal Reserve's last meeting caused the turmoil as stocks tumbled around the globe.
On BSE, 1,469 shares fell and 1,200 shares rose. A total of 190 shares were unchanged.
Major gainers which contributed to the Nifty were ICICI Bank, State Bank of India, Reliance Industries, ONGC, Tata Consultancy Services, Infosys, Bajaj Auto, Tata Power and Larsen and Toubro.
Capital goods and banking stocks catapulted the indices.
Weakness in the rupee against the US dollar also weighed on domestic stocks. The local unit fell 11 paise to 70.60 against the US dollar intra-day.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances