Equity indices failed to hold on to their gains in see-saw trade on Tuesday, ending in the red for the third straight session despite a tentative recovery in global equities. The rupee too bounced back from historic lows, but the overall sentiment remained risk-averse amid concerns over economic recovery in a high interest rate scenario. The 30-share BSE Sensex had a choppy start but gained momentum in mid-session trade. However, it succumbed to selling pressure towards the fag end to close 105.82 points or 0.19 per cent lower at 54,364.85. On similar lines, the broader NSE Nifty declined 61.80 points or 0.38 per cent to finish at 16,240.05.
The rupee on Wednesday declined by 16 paise to close at its fresh lifetime low of 77.60 against the US dollar amid unabated foreign fund outflows and a stronger greenback in overseas markets. At the interbank foreign exchange market, the rupee opened lower at 77.57 and later hit the day's low of 77.61 as the dollar rebounded in global markets following hawkish comments from US Federal Reserve chief Jerome Powell. Crude oil prices also surged over 1 per cent, which weighed on the rupee.
Forex dealers said besides dollar gaining against other currencies in the global markets, increased demand for the American currency from importers and lower opening in the domestic equity market influenced the rupee.
The benchmark indices have rallied 28 per cent this year, while the broader market has outperformed
Assuming that the value of LIC's holding has risen in line with the markets, its portfolio size today could be around $86 billion, higher than the previous record of $84 billion in March 2018.
Equity indices nursed losses for the second consecutive session on Tuesday as investors continued to dump IT, banking and FMCG stocks amid a bearish trend in global markets. Unabated foreign fund outflows and the rupee dropping to another record low against the US dollar added to the woes, traders said. Participants were also in wait-and watch mode ahead of release of retail inflation and factory output data.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
The S&P BSE Sensex ended the day at 28,226, up 85 points, while the Nifty50 settled at 8,734, up 18 points.
The Nifty Bank index has come off 15 per cent from its peak in February, underperforming the benchmark Nifty which is down 6%.
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
Equity benchmarks shrugged off lacklustre global cues to clock smart gains on Tuesday, buoyed by strong buying interest in index heavyweights Reliance Industries and HDFC twins. However, a depreciating rupee and unabated foreign fund outflows capped the gains, traders said. The 30-share BSE Sensex rallied 562.75 points or 0.94 per cent to settle at 60,655.72.
Heavy offloading by foreign portfolio investors also weighed on the rupee
Yes Bank was the biggest gainer in the Sensex pack, rallying 10.94 per cent. Other gainers included Sun Pharma, IndusInd Bank, L&T, ICICI Bank, Maruti, Bajaj Auto, Tata Motors and ONGC, rallying up to 4.01 per cent.
Benchmark share indices trimmed intra-day gains after global crude oil prices resumed their downward trajectory after sharp gains on Friday.
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
The stock of Aditya Birla Fashion Retail is down 10 per cent from its February high. Even as the revenue performance of the apparel retail major in the October-December quarter's for the 2022-23 financial year (Q3FY23) was better than expected, the company saw brokerage downgrades, given the weak operating performance and the pressure on margins. This the second consecutive quarter of margin miss despite strong traction on the sales front.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
In line with Sensex, the broader indices also saw hefty losses. Large cap index tumbled 0.79 per cent, midcap 0.87 per cent and smallcap 0.57 per cent.
Metal shares were the top gainers with Hindalco up over 5%.
The S&P BSE Sensex ended 190 points up at 23,382.
Market should rebound in the next few days
Gold prices staged a smart rebound to surpass the psychologically important Rs 28,000 milestone.
Tata Steel was the top gainer in the Sensex pack, rising 3.10 per cent, followed by Bajaj Finance, Bajaj Finserv, Reliance Industries, Asian Paints and Titan.
Tech Mahindra was the top gainer in the Sensex pack, rising over 3 per cent, followed by Dr Reddy's, PowerGrid, Kotak Bank, Sun Pharma, ICICI Bank and M&M. On the other hand, IndusInd Bank, Asian Paints, Maruti and Bharti Airtel were among the laggards.
The 30-share Sensex ended up 1 point at 27,459 and the 50-share Nifty ended down 1 point at 8,341.
The breadth, indicating strength of the market was strong
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
Automobile sector accounts for the third-highest equity mutual fund contributions.
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.
Since infrastructure projects have long gestation periods, investors need to enter them with a long horizon of at least 10 years.
The resilience of many emerging markets, notably China and India, in the aftermath of the Lehman shock further strengthened this sense of manifest destiny.
The total market capitalisation of BSE listed companies stood at Rs 1,01,68,542 crore.
Equities in India saw record FPI inflows of $16.8 billion in November and December, taking the benchmark indices to new highs.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
Tata Steel was the top gainer in the Sensex pack, rallying nearly 7 per cent, followed by Bajaj Finserv, SBI, HCL Tech, Sun Pharma, Bajaj Finance and Reliance Industries. NSE Nifty advanced 69.05 points to 15,778.45.
FIIs have offloaded stocks worth Rs 13,110 crore
In absolute terms, the year closed with the market capitalisation of all BSE-listed companies rising by Rs 45.5 lakh crore to Rs 152 lakh crore, or an increase of 42.8 per cent, compared to the closing value on December 30, 2016, says Pavan Burugula.
The past decade saw three full cycles of markets moving up and then going into bear phases.
Equity investors grew richer by Rs 32.49 lakh crore in 2020 on the back of smart returns in the stock market which had a roller-coaster ride during the year hit by the coronavirus pandemic. The COVID-19 outbreak ravaged lives and livelihoods on a global scale, shuttering businesses and jolting world equities. But amid all the gloom, Indian stock indices gave hope of returning to winning ways towards the latter part of the year.
Equity markets braved all odds this fiscal and rewarded investors with high returns as the benchmark Sensex surged more than 66 per cent despite COVID-led disruptions and concerns over its impact on the economy. Market analysts termed FY 2020-21 as a roller coaster ride for not only Indian markets but also for equity indices globally due to the pandemic. In an unprecedented come back, the 30-share BSE Sensex has jumped 19,540.01 points or 66.30 per cent so far this fiscal. This extraordinary rally holds significance as markets faced volatile trends this fiscal.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances