Samvat 2070 was a great year for top Indian conglomerates in the stock markets.
The broader Nifty, after touching a high (intra-day) of 10,555.50 points, finished at 10,539.75, up 84.80 points, or 0.81 per cent.
M&M was the top gainer in the Sensex pack, rallying around 8 per cent, followed by Bajaj Finserv, Bajaj Finance, Maruti, Axis Bank, ONGC and HDFC Bank. NSE Nifty surged 194 points to 14,504.80.
The fall in metal and mining stocks comes on the back of weak Chinese trade data
HDFC was the top loser in the Sensex pack, shedding over 1 per cent, followed by Nestle India, ICICI Bank, Kotak Bank and HDFC Bank. The NSE Nifty declined 15.35 points to 17,546.65.
The Survey also said that the borrowings by banks have increased significantly.
The Dow has never lost more than 800 points in a day.
Axis Bank was the top gainer in the Sensex pack, surging over 13 per cent, followed by ICICI Bank, IndusInd Bank, Maruti, TCS, Kotak Bank and Reliance Industries. On the other hand, Nestle India, HUL, Tech Mahindra and Sun Pharma ended in the red. NSE Nifty zoomed 273.95 points, or 3.03 per cent, to finish at 9,266.75.
Stock market crash: TCS sheds $21 billion in market capitalisation, Infosys $7 billion and Wipro around $3 billion
Markets end four-day losing streak led by shares of private banks, rebound in L&T and Tata Steel.
The Nifty, after dropping below the 6K mark on Tuesday, once again gained strength. The index, after flip-flopping between the zones ended finally at 5,999 - up 10 points. BSE market breadth was weak. Out of 3,085 stocks traded, 1,872 declined while 1,065 advanced.
In the broader market, the BSE Midcap index bucked the trend to gain 0.3%
Indian equity markets registered their highest single-day percentage gains since early October.
Following a strong performance in the 2022-23 January-March quarter, publicly listed paint industry giants displayed a mixed performance in the 2023-24 (FY24) April-June quarter. While Berger Paints India outperformed its peers and reported results in line with expectations, market leader Asian Paints and Kansai Nerolac Paints fell slightly short of expectations.
Soaring output has left the world awash with cheap crude as supply exceeds demand by 1 million to 2 million barrels per day
Select metal stocks rebounded while power stocks extended losses after SC verdict on coal block allocations.
The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency following a recovery in the domestic stocks and weakness in the greenback in overseas markets. The US dollar retreated from the two-decade high levels against a basket of six currencies which supported the rupee sentiment. At the interbank foreign exchange market, the local currency opened at 79.95 and witnessed an intra-day high of 79.82 and a low of 79.96 against the US dollar in the day trade. ,
The NSE Nifty ended at 4,564 -- down eight points. The market breadth was failry positive. Out of 2,745 stocks traded, 1,709 advanced while 945 declined. The rest were unchanged.
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
Over the next three - six months, UBS believes earnings will be the main driver for EM equities outperformance.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
The 50-share Nifty scaled a high of 10,207.90 intra-day but succumbed to profit-booking to finish at 10,184.15, up 53.50 points
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
While mid-cap and small-cap funds have given category average returns of 73.3 per cent and 89.8 per cent respectively over the past year, large-cap funds' returns have been lower at 53.9 per cent, points out Sarbajeet K Sen.
The upbeat earnings from Reliance Industries will set the tone for the truncated week ahead
The BSE IT index soared 4% (123 points) to 3,218, and the Bankex rallied over 3% (209 points) to 6,688. The Realty index, however, shed 2.3% (82 points) at 3,427. The market breadth was positive - out of 2,672 stocks traded, 1,476 advanced, 1,120 declined and 76 were unchanged on Wednesday.
RBI said the outlook for economic growth for 2016-17 has turned uncertain after the unexpected loss of momentum by 50 basis points in Q2 and the effects of the withdrawal of banned notes
Bolstered by bullish investor sentiments, India witnessed companies mopping up a whopping $9.7 billion through initial share sales in the first nine months of 2021, the highest amount for the nine-month period in two decades, says a report. As many as 72 initial public offerings (IPOs) hit the stock market during the January-September period this year in India and strong sentiments were visible in the global markets as well, according to leading consultancy EY. EY, in its latest report, said the global IPO market continued to boom through Q3 2021 resulting in the most active third quarter by deal numbers and proceeds in the last 20 years.
Markets across the globe are rallying on hopes that the US Federal Reserve won't lift interest rates until 2016.
Motilal Oswal of Motilal Oswal Financial Services tells Puneet Wadhwa why he thinks the current market levels will sustain.
In New York Market, the US dollar rose against the Australian dollar on Tuesday as gold futures dropped more than two per cent and investors anticipated Chinese data that is likely to show a slowing of growth.
The Indian markets achieved another milestone on Friday. The Sensex conquered the 19,000-mark. The Sensex exhibited high volatility in early trades. After opening with a positive gap of 53 points at 18,824, the index tumbled into red to a low of 18,630. The index rebounded sharply and rallied to a high of 19,047 -- up 417 points from the day's low.
Benchmark stock indices Sensex and Nifty rebounded from early lows to close over 1 per cent higher on Tuesday, helped by heavy buying in index heavyweight Reliance Industries, Infosys and TCS amid gains in global equities. The 30-share BSE Sensex closed up by 696.81 points or 1.22 per cent at 57,989.30. It touched a high of 58,052.87 and a low of 56,930.30 in intra-day trade.
More may follow as market indices gain 80 per cent
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
The number of issues were the lowest since FY15, compared to 45 in FY18.
Bajaj Finance was the top gainer in the Sensex pack, rising around 5 per cent, followed by IndusInd Bank, Tata Steel, ITC, Bajaj Finserv, Tech Mahindra and Infosys. On the other hand, Maruti, Bajaj Auto, Nestle India, PowerGrid and Axis Bank were among the laggards.
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