India Inc could be embarking upon a new phase of capital expenditure (capex) cycle, observed analysts, and suggest its revival would lead to a rerating of industrial stocks. Assisted by a property upcycle, analysts at Jefferies said several government initiatives were likely to drive capex. Indicators, they said, include a private project announcement at Rs 25 trillion for 2022-23 (up 150 per cent from pre-pandemic levels) and credit growth at about 16 per cent, which is closer to pre-pandemic highs.
The 30-share BSE Sensex surged by 477.24 points or 0.83 per cent to close at more than one-week high of 57,897.48. As many as 28 of its constituents closed with gains while two declined. The broad-based Nifty of the National Stock Exchange rose by 147.20 points or 0.86 per cent to settle 17,233.45, tracking gains in Sun Pharma, Asian Paints, and Reliance Industries.
Among the Sensex stocks, Tata Motors emerged as the top gainer, rising by 7 per cent. Yes Bank, ICICI Bank, Vedanta Ltd and Tata Steel were among the gainers.
Investors, who invested in capital goods companies like Larsen & Toubro, Siemens, BHEL and ABB, would have made money even in falling markets.
L&T was the top gainer in the Sensex pack, spurting over 6 per cent, followed by Hero MotoCorp, HDFC Bank, IndusInd Bank, Maruti, HDFC and HCL Tech. On the other hand, ITC, SBI and Bharti Airtel ended in the red.
Capital goods and banking stocks catapulted the indices.
L&T was the top loser in the Sensex pack, dropping 4.99 per cent, after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter. Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent. NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
Top losers in the Sensex pack on Friday included Bajaj Finance, ONGC, IndusInd Bank, PowerGrid, L&T, Axis Bank, NTPC, Bharti Airtel, HDFC, HDFC Bank and Kotak Mahindra Bank, falling up to 2.08 per cent.
Infrastructure, realty are the current favourites.
The NSE Nifty ends at 4,619, up 53 points.
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.
Having opened with a huge positive gap of 128 points at 15,772 and moved up to a high of 15,834 in morning deal, the Sensex dropped to 15,298 - an intra-day swing of 536 points. It finally closed with a marginal loss of 18 pts at 15,627. BHEL, L&T, M&M, Wipro, Tata Steel, Bharti, ICICI Bank & Infosys were major losers. HUL, ITC, Reliance, ONGC & Reliance Energy were major gainers. GSS America was the most active counter with a turnover of Rs 468cr followed by Reliance Capital
At first glance, the numbers show a mixed trend.
The BSE Capital Goods index soared over 4% to 16,631, and the IT index surged over 3% to 5049. The Metal index was up 2.5% at 14,444. The market breadth was marginally negative - out of 2,806 stocks traded, 1,417 declined, 1,325 advanced and 64 were unchanged on Wednesday.
The Sensex opened marginally higher at 14,415
The Sensex has dropped below the 10,700-mark, and is now at the day's low at 10,686 - down 49 points.
The NSE Nifty closed at 3,638, down 133 points.
The markets opened on a strong note due to continued optimism on the back of expected robust third quarter corporate performances
The markets opened on a positive note but became volatile
The Sensex closed at 11,706.85 up 87 points. The Nifty gained 25 points to close at 3426.
The markets have opened in the positive terrain in line with global peers on account of buying interest seen in construction, pharma, banking and capital goods
The broader 50-issue NSE Nifty dropped 38.35 points, or 0.38 per cent, to close at 10,186.60
BSE Midcap and BSE Smallcap indices registered an uptick of 0.06%, and 0.05%, respectively
For the week, the Sensex recorded a fall of 371 points, or 1.10 per cent, and the NSE Nifty 130.75 points, or 1.25 per cent.
For the second straight week, the Sensex rose, notching up a significant gain of 528.34 points, or 1.59 per cent. The Nifty was up 129.45 points, or 1.25 per cent, during the week.
A strong set of industrial output numbers for January provided the perfect backdrop to reap more dividends, with the IIP having expanded 2.7 per cent year-on-year.
Broader market underperformed the headline indices with BSE Midcap and BSE Smallcap finishing in red
Markets at close: Sensex ends in green; Nifty rises to new closing peak.
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
Broader market outperformed the frontline indices and also hit their respective all-time highs
Profit-booking and selling pressure on below-normal monsoon forecast, marred sentiments, traders said.
Market breadth was weak with 1239 losers and 1078 gainers on the BSE.
The NSE Nifty, comprising 50 shares, breached the 8,300-mark for the first time to hit a new lifetime high of 8,330.75.
The Nifty has gained 2.6% so far this week, while the Sensex has climbed 2.85%
The turmoil on the Street and a continued fall of the rupee may affect growth stocks, pushing equity investors back to the relative safety of defensive counters, or forcing them to flee markets, or both.
Benchmark share indices trimmed intra-day gains after global crude oil prices resumed their downward trajectory after sharp gains on Friday.
The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
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