by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Key Indian equity indices — the NSE Nifty50 and the BSE Sensex – traded on a flat-to-positive note during the mid-afternoon session on Thursday as investors remained cautious on the day of derivatives expiry.
According to market observers, a weak rupee and broadly negative global cues, too, capped gains.
However, healthy buying witnessed in consumer durables and oil and gas stocks kept the sentiments afloat.
Around 12.45 p.m., the wider 51-scrip Nifty of the National Stock Exchange (NSE) traded at 9,893.90 points — up 9.50 points or 0.10 per cent.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,685.44 points, traded at 31,659.36 points — up 12.90 points or 0.04 per cent from its previous close at 31,646.46 points.
The Sensex has so far touched a high of 31,722.41 points and a low of 31,551.85 points during the intra-day trade.
The BSE market breadth was bullish with 1,170 advances and 765 declines.
“The BSE Sensex opened lower on Monday against the previous session’s closing. The broader NSE’s Nifty, too, fell in the morning hours. The Indian rupee opened weaker against the US dollar,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
“Shares of Wipro and Reliance rose, whereas the shares of NTPC and Sun Pharma fell. Reliance Industries gained 1 per cent after the company said it will make an offer for issuing non convertible debentures (NCDs) worth Rs 2,500 crore next week.”
On Wednesday, the benchmark indices surged on the back of positive global cues and healthy buying in metal, oil and gas, and banking stocks.
The Nifty50 closed at 9,884.40 points — up 88.35 points or 0.90 per cent, while the Sensex closed at 31,646.46 points — up 258.07 points or 0.82 per cent.
—IANS
by admin | May 25, 2021 | Commodities, Commodities News, Economy, Markets, News
Mumbai : A day after closing at their lowest levels in a week’s time, key Indian equity indices — the NSE Nifty50 and the BSE Sensex — on Wednesday surged on the back of positive global cues and healthy buying in metal, oil and gas, and banking stocks.
According to market observers, easing geo-political tension in East Asia and healthy buying in index heavyweights like Reliance Industries, Adani Ports, HDFC and Tata Steel aided the upward trajectory of the indices.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) reclaimed the psychologically important 9,900-mark to touch a high of 9,909.45 points during intra-day trade.
However, the Nifty50 could not retain that level and closed at 9,884.40 points — up 88.35 points or 0.90 per cent.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,534.57 points, closed at 31,646.46 points — up 258.07 points or 0.82 per cent from its previous close at 31,388.39 points.
The Sensex touched a high of 31,727.98 points and a low of 31,533.02 points during the intra-day trade.
The BSE market breadth was bullish with 1,805 advances and 770 declines.
“Markets rallied sharply on Wednesday after the sharp correction seen on Tuesday. Positive global cues aided the market sentiments,” Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market recouped from the previous day’s loss, taking cues from positive global markets due to no further escalation in the geopolitical tensions. The domestic market was also filliped by the better than anticipated tax collection under the GST regime.”
“Mid and small-caps outperformed the broader market as investors saw buying opportunity in corrections,” Nair added.
In terms of the broader markets, the S&P BSE mid-cap index rose by 1.49 per cent, and the small-cap index by 1.35 per cent.
On the currency front, the Indian rupee closed on a flat note at 64.02 to a US dollar from its previous close.
“Trading volumes, however, were muted as floods caused by heavy seasonal monsoon rains destroyed homes and disrupted traffic in Mumbai, India’s financial capital on Tuesday, causing many people to stay home on Wednesday,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
“Oil marketing companies traded higher. Auto and auto ancillary stocks continued to trade higher even after the Cabinet cleared an ordinance to hike cess on luxury cars and sport-utility vehicles to 25 per cent from 15 per cent under the GST regime at present,” Desai told IANS.
Sector-wise, all the 19 sub-indices of the BSE ended in the green, led by the S&P BSE metal index, which surged by 342.40 points.
This was followed by the S&P BSE oil and gas index, which rose by 341.57 points, the banking index by 214.44 points and the consumer durables index by 211.93 points.
Major Sensex gainers on Wednesday were: Reliance Industries, up 2.12 per cent at Rs 1,564.15; Adani Ports, up 1.94 per cent at Rs 389.65; HDFC, up 1.83 per cent at Rs 1,759.50; Coal India, up 1.39 per cent at Rs 241.50; and Tata Steel, up 1.35 per cent at Rs 638.65.
Major Sensex losers were: Mahindra and Mahindra, down 1.28 per cent at Rs 1,360.10; Power Grid, down 0.35 per cent at Rs 215.05; NTPC, down 0.30 per cent at Rs 168; Cipla, down 0.19 per cent at Rs 566.85; and Dr. Reddy’s Lab, down 0.16 per cent at Rs 2,040.35.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Rising geo-political tension in East Asia along with foreign fund outflows and upcoming derivatives expiry dragged the key Indian equity indices — the NSE Nifty50 and the BSE Sensex — to close deep in the red on Tuesday.
The two key indices closed at their lowest levels in a week’s time as heavy selling pressure in banking, consumer durables and capital goods stocks weighed on markets’ sentiments and spanned four consecutive sessions of gains.
Consequently, the wider 51-scrip Nifty of the National Stock Exchange (NSE) closed at 9,796.05 points — down 116.75 points or 1.18 per cent.
Similarly, the 30-scrip Sensitive Index (Sensex) of the BSE closed in the red. It opened at 31,724.84 points, closed at 31,388.39 points — down 362.43 points or 1.14 per cent from Monday’s close at 31,750.82 points.
The Sensex touched a high of 31,739.80 points and a low of 31,360.81 points during the intra-day trade.
Investors’ risk-taking appetite got eroded amid geo-political tensions in the Korean peninsula.
“Markets corrected sharply on Tuesday after a weak opening. The main indices lost over one per cent as weak European and Asian markets weighed on the market sentiments,” Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.
“The Sensex and Nifty hit one-week lows and all the major sectoral indices on the BSE closed in the red. Major Asian markets have ended on a negative note, barring the Shanghai index. European indices like FTSE 100, DAX and CAC 40 also traded lower.”
According to market observers, Anand James, Chief Market Strategist, Geojit Financial Services, concerns of heavy floods in the financial capital and the selling by FIIs in equities over the past one month “ensured that risk appetite was down to a trickle, especially as Asian markets were in a sea of red following North Korea threats”.
“The speeding process of NPA resolution may provide some respite to the market ahead of the F&O expiry, after it managed to hold the crucial 60 DMA level,” James said.
On the currency front, the Indian rupee weakened by 11 paise to 64.02 to a US dollar from its previous close at 63.91.
In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 1,459.64 crore, while domestic institutional investors (DIIs) purchased stocks worth Rs 1,391.33 crore.
“The selling pressure was broad-based with all the sectoral indices in the red,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
“Banking, IT, Pharma and FMCG stocks led the sell off. Coal India, HDFC, Sun Pharma and Hindalco were down over 2 per cent.”
Sector-wise, all the 19 sub-indices of the BSE ended in the red, led by the S&P BSE banking index, which plunged by 290.54 points, followed by the S&P BSE consumer durables index, down 258.72 points and the capital goods index which edged-lower by 187.72 points.
The lone Sensex gainer on Tuesday was: Wipro, up 0.02 per cent at Rs 290.95.
On the other hand, major Sensex losers were: NTPC, down 2.80 per cent at Rs 168.50; Tata Motors (DVR), down 2.57 per cent at Rs 219.85; Sun Pharma, down 2.35 per cent at Rs 481.15; HDFC, down 2.20 per cent at Rs 1,727.85; and Reliance Industries, down 2.17 per cent at Rs 1,531.75.
—IANS
by admin | May 25, 2021 | Banking, Economy, Markets, News
Mumbai : Key Indian equity indices — the NSE Nifty50 and the BSE Sensex — opened on a higher note during the early morning trade session on Monday with healthy buying witnessed in IT and banking stocks.
Around 9.19 a.m., the wider 51-scrip Nifty of the National Stock Exchange (NSE) traded at 9,905.35 points — up 48.30 points or 0.49 per cent.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,756.87 points, traded at 31,747.10 points — up 151.04 points or 0.48 per cent from Thursday’s close at 31,596.06 points.
The Sensex has so far touched a high of 31,775.06 points and a low of 31,734.64 points during the intra-day trade.
The BSE market breadth was bullish with 843 advances and 293 declines.
On Thursday, the benchmark indices closed on a flat-to-positive note as short covering in healthcare stocks, coupled with positive European markets and a strong rupee, kept investors’ sentiments afloat.
The Nifty closed fractionally higher by 4.55 points or 0.05 per cent at 9,857.05 points, while the Sensex closed at 31,596.06 points — up 28.05 points or 0.09 per cent.
The Indian equity markets were closed on Friday on account of Ganesh Chaturthi.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Key Indian equity indices — the NSE Nifty50 and the BSE Sensex — on Thursday closed on a flat-to-positive note as short covering in healthcare stocks, coupled with positive European markets and a strong rupee, kept investors’ sentiments afloat.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) closed fractionally higher by 4.55 points or 0.05 per cent at 9,857.05 points.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,673.44 points, provisionally closed at 31,596.06 points — up 28.05 points or 0.09 per cent from the previous close at 31,568.01 points.
The Sensex touched a high of 31,678.19 points and a low of 31,546.05 points during the intra-day trade.
The BSE market breadth was bullish with 1,452 advances and 1,119 declines.
In terms of the broader markets, the S&P BSE mid-cap index rose by 0.80 per cent, and the small-cap index by 0.46 per cent.
“Benchmark indices traded flat on Thursday following Asian markets, which shrugged off comments from US President Donald Trump about a shutdown of his government if the US Congress fails to fund a Mexico border wall,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“Investors also kept a close eye on a central banking conference in Jackson Hole, Wyoming, which begins (later) on Thursday, where Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are both due to speak,” Desai added.
On the currency front, the Indian rupee strengthened by 7-8 paise to 64.03-04 to a US dollar from its previous close at 64.11.
In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 696.93 crore, while domestic institutional investors (DIIs) purchased stocks worth Rs 1,044.38 crore.
“After opening on a positive note today, the Nifty failed to display upside momentum and remained within a small range of 32 points through the day. Highlight for the day was outperformance of pharma stocks,” said Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.
“Sectorally, most of the sectors of the broader markets moved up marginally except NSE pharma which rose sharply. European indices like FTSE 100, DAX and CAC 40 traded higher,” he added.
Sector-wise, the S&P BSE healthcare index surged by 326.98 points, followed by capital goods index by 90 points and the IT index by 68.42 points.
On the other hand, the S&P BSE FMCG index fell by 23.67 points, the oil and gas index by 17.93 points, and the realty index by 17.50 points.
Major Sensex gainers on Thursday were: Lupin, up 3.87 per cent at Rs 991.75; Sun Pharma, up 3.10 per cent at Rs 483.30; Dr. Reddy’s Lab, up 2.88 per cent at Rs 2,087.90; Cipla, up 2.47 per cent at Rs 573.40; and Infosys, up 2.01 per cent at Rs 912.50.
Major Sensex losers were: Adani Ports, down 1.32 per cent at Rs 379.95; Bajaj Auto, down 1.04 per cent at Rs 2,731.85; Reliance Industries, down 0.88 per cent at Rs 1,567.40; HDFC, down 0.73 per cent at Rs 1,750; and Hindustan Unilever, down 0.72 per cent at Rs 1,178.95.
The Indian equity markets will remain closed on Friday on account of Ganesh Chaturthi.
—IANS
