by admin | May 25, 2021 | Banking, Economy, Markets, News
Mumbai : Profit booking, along with concerns over global protectionist measures, subdued the Indian equity indices on Tuesday.
According to market observers, heavy selling pressure in oil and gas, banking and healthcare stocks capped the gains.
Index-wise, the 30-scrip Sensitive Index (Sensex) closed the day’s trade at 37,665.80 points, down by 26.09 points and 0.07 per cent from its previous close.
The barometer index touched a fresh record high of 37,876.87 points and a low of 37,586.88 points during the intra-day trade.
In contrast, the broader 50-scrip Nifty of the National Stock Exchange (NSE) closed on a flat-to-positive note at 11,389.45 points, up by just 2.35 points or 0.02 per cent.
“Market was range bound after touching a new high and ended up with a marginal gain. Global cues were positive despite concerns of trade tensions,” said Geojit Financial Services’ Head of Research Vinod Nair.
“Back home, PSU banks slid on account of profit booking after two consecutive days of rally. Earnings were largely in line with market expectation while positive guidance for sectors like consumer durables, pharma and select large caps will enthuse the market to have a positive momentum.”
BNP Paribas Mutual Fund’s Senior Fund Manager Equities Market Abhijeet Dey said: “Stock markets in India started the day on a buoyant note and scaled a record high, amidst mild volatility.”
“However, key benchmark indices subsequently reversed initial gains to trade in the negative zone in the mid-morning trade to finally close near the flat line.”
On the currency front, the rupee strengthened by 11 paise to 68.68 against the US dollar from the previous close of 68.89 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors bought scrip worth Rs 314.83 crore, while the domestic institutional investors sold stocks worth Rs 319.90 crore.
Sector-wise, the S&P BSE consumer durables index rose by 267.70 points, the S&P BSE metal index was up 163.47 points and the auto index ended higher by 37.49 points.
Against this, the S&P BSE oil and gas index declined by 155.77 points, followed by the banking index, which was down 80.79 points and the healthcare index which ended lower by 62.41 points.
The major gainers on the Sensex were Tata Steel, up 3.61 per cent at Rs 573.40; Asian Paints, up 1.63 per cent at Rs 1,419.60; NTPC, up 1.31 per cent at Rs 158.60; Vedanta, up 1.25 per cent at Rs 226.80; and Maruti Suzuki up 1.18 per cent from Rs 9396.80 per share.
The major losers were Adani Ports, down 6.49 per cent at Rs 371.95; Coal India, down 2.63 per cent at Rs 275.40; State Bank of India, down 1.47 per cent at Rs 304.00; Bharti Airtel, down 1.26 per cent at Rs 381.35; and ONGC, down 1.24 per cent at Rs 167.10 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
SEBy Rituraj Baruah,
Mumbai : Broadly positive global cues, along with healthy macro-economic data and better-than-expected quarterly earnings, lifted the key Indian equity indices during the week ended Friday.
Analysts pointed out that key macro data of Nikkei India Services Business Activity Index, which showed an exponential rise along with predictions of a revival in monsoon and healthy automobile sales, aided both S&P BSE Sensex and NSE Nifty50 to maintain their upward trajectory.
However, the weekly gains were limited as investor sentiments got eroded after the Reserve Bank of India (RBI) hiked its key lending rates.
On a weekly basis, the BSE Sensex closed at 37,556.16 points, up 219.31 points or 0.59 per cent from the previous close.
The wider Nifty50 on the National Stock Exchange (NSE) settled at 11,360.80 points, higher 82.45 points or 0.73 per cent from its previous week’s close.
Market breadth was positive in all the five trading sessions of the week, analysts said.
“Traders and investors seem impressed by the healthy start to the earnings season and easing crude oil prices,” said Prateek Jain, Director, Hem Securities.
Equity99’s Senior Research Analyst, Rahul Sharma said: “Sustained buying in key index stocks helped the markets to settle higher despite tepid global cues and RBI’s rate hike decision.”
“Buying followed on data showing that Indian service sector has remained in expansion territory for the second consecutive month in July.”
On the currency front, the rupee closed at 68.61 on Friday, strengthening by five paise from its previous week’s close of 68.66 per greenback.
In terms of investments, provisional figures from the stock exchanges showed that foreign institutional investors sold scrips worth Rs 403.51 crore, while the domestic institutional investors sold Rs 1,057.84-crore stocks in the past week.
Figures from the National Securities Depository (NSDL) suggested that foreign portfolio investors (FPIs) invested Rs 962.41 crore, or $139.80 million, in the equities segment during the week ended August 3.
Sector-wise, top gainers were pharma, public sector banks, energy and metals indices, while auto index was the major loser, said Deepak Jasani, Head – Retail Research at HDFC Securities.
The top weekly Sensex gainers were Coal India (up 6.32 per cent at Rs 278.50); Hindustan Unilever (up 6.15 per cent at Rs 1,759.45); Power Grid (up 5.57 per cent at Rs 189.60); Sun Pharma (up 5.01 per cent at Rs 584.85); and State Bank of India (up 4.19 per cent at Rs 298.60 per share).
The major losers were Tata Motors (DVR) (down 4.33 per cent at Rs 142.65); HDFC Bank (down 3.74 per cent at Rs 2,121); HDFC (down 3.43 per cent at Rs 1,974.35); Tata Motors (down 3.34 per cent at Rs 258.75); and Larsen and Toubro (down 1.53 per cent at Rs 1,291.35 per share).
(Rituraj Baruah can be contacted at rituraj.b@ians.in)
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : The key Indian equity indices — S&P BSE Sensex and NSE Nifty50 — rose over 1 per cent each on Friday supported by a healthy macro economic data and prediction of recovery in monsoon rains.
Market observers cited broadly positive global indices coupled with lower crude oil prices as other factors which buoyed investor sentiments.
On Friday, the Nikkei India Services Business Activity Index showed an exponential rise in the rate of output growth during July.
Index-wise, the wider Nifty50 on the National Stock Exchange (NSE) closed at 11,360.80 points, higher by 116.10 points or 1.03 per cent from the previous close of 11,244.70 points.
The benchmark BSE Sensex, which had opened at 37,327.16 points, closed at 37,556.16 points, 391 points or 1.05 per cent higher from the previous close of 37,165.16 points.
On an intra-day basis, it touched a high of 37,582.27 points and a low of 37,319.61 points. The BSE market breadth was bullish with 1,768 advances and 937 declines.
“Stock markets in India traded the day on a positive note as upbeat macro-economic developments gave a fillip to investor sentiment,” said Abhijeet Dey, Senior Fund Manager for Equities, BNP Paribas Mutual Fund.
According to Deepak Jasani, Head of retail research at HDFC securities sentiments were also boosted after the weather department’s forecast of recovery in monsoon in August and September.
On the currency front, the rupee closed at 68.61, strengthened by 10 paise from the previous close of 68.71 per dollar.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 5.87 crore and the domestic institutional investors bought stocks worth Rs 87.08 crore.
Sector-wise, all the indices traded on a positive note on Friday with the S&P BSE banking gaining the most, by 502.75 points. It was followed the consumer durables index which rose 320.27 points and the metal index which ended 188.60 points higher from its previous close.
The major gainers on the Sensex were Axis Bank, up 5.17 per cent at Rs 574.35; Vedanta, up 3.60 per cent at Rs 221.85; Yes Bank, up 2.96 per cent at Rs 372.45; ICICI Bank, up 2.33 per cent at Rs 304.80; Kotak Mahindra Bank, up 2.20 per cent from Rs 1,309.20 per share.
The major losers were Tata Motors, down 0.84 per cent at Rs 258.75; Tata Motors (DVR), down 0.80 per cent at Rs 142.65; Hero MotoCorp, up 0.63 per cent at Rs 3,246.10; Asian Paints, down 0.50 per cent at Rs 1,411.35; and HDFC Bank, down 0.39 per cent at Rs 2,121 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Domestic equity indices continued to set new benchmarks on Monday and settled at their record closing levels, supported by healthy quarterly earnings.
Earlier in the day, the BSE Sensex crossed the 37,500 mark for the first time and touched an all-time intra-day high of 37,533.50 points. The NSE Nifty50 also hit a fresh high of 11,328.10 points.
Index-wise, the wider Nifty50 on the National Stock Exchange closed at 11,319.55 points, higher by 41.20 points or 0.37 per cent from its previous close of 11,278.35 points.
The 30-scrip BSE Sensex, which had opened at 37,491.39 points, closed at 37,494.40 points, higher by 157.55 points or 0.42 per cent from its previous close of 37,336.85 points. It touched an intra-day low of 37,292.45 points.
In the broader markets, the S&P BSE mid-cap rose by 0.30 per cent and the S&P BSE small-cap ended 0.55 per cent higher from its previous close. The BSE market breadth was bullish with 1,606 advances and 1,057 declines.
“Carrying on from last week, markets continued to surge higher on Monday,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Globally, however, equity markets traded in the negative territory.
Major Asian markets closed on a negative note, barring the Jakarta index and the European indices like FTSE 100, CAC 40 and DAX also traded in the red.
On the currency front, the rupee closed at 68.68, depreciating by two paise from the previous close of 68.66 per dollar.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 234.04 crore and the domestic institutional investors purchased stocks worth Rs 48.58 crore.
Sector-wise, the S&P BSE banking index gained the most, by 401.01 points, followed by the auto index, which rose by 119.11 points and the oil and gas index, up 112.79 points.
On the contrary, S&P BSE oil and gas index ended lower by 112.79 points, the capital goods index fell 40.34 points, Teck index (technology, entertainment and media) was down 18.38 points.
The top gainers on the Sensex were Bharti Airtel, up 5.13 per cent at Rs 383.15; ICICI Bank, up 4.76 per cent at Rs 307.25; State Bank of India, up 3.75 per cent at Rs 297.35; and Axis Bank, up 2.67 per cent at Rs 568.45; Mahindra and Mahindra, up 2.52 per cent to Rs 932.70 per share.
The major losers were Infosys, down 1.56 per cent at Rs 1,353.15; HDFC Bank, down 1.41 per cent at Rs 2,172.25; Tata Motors (DVR), down 1.27 per cent at Rs 147.20; Larsen and Toubro, down 1.19 per cent at Rs 1,295.80; and Adani Ports, down 0.90 at Rs 390.70 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
By Rohit Vaid,
Mumbai : The upcoming monetary policy review coupled with the ongoing financial results season and key macro-economic data points will influence the trajectory of key equity indices in the week ahead, analysts opined.
According to market observers, direction of foreign fund flows, rupee’s movement against the US dollar as well as global crude oil prices will also affect investors sentiments.
“The next week is dominated by macro data and RBI monetary policy meeting,” Devendra Nevgi, Founder and Principal Partner, Delta Global Partners, told IANS.
“On the RBI policy, the markets are divided on policy rate hike in the next weeks meeting. The decision weightage given by MPC to core inflation is crucial and whether RBI changes its stance from neutral to hawkish. RBI is likely to be data dependent and cautious on hikes.”
Besides the monetary policy review slated for July 31-August 1, investors will look out for macro-economic data points such as the eight core industries’ (ECI) output and the country’s fiscal deficit numbers.
In addition, the PMI manufacturing and services’ figures, along with monthly automobile sales data will be released during the week.
Furthermore, companies like Axis Bank, HDFC, Idea Cellular, IndiGo, Piramal Enterprises, Tech Mahindra, EIH, Tata Motors, Vedanta, Reliance Infra, ONGC and SAIL are expected to announce their Q1 earning results next week.
“Going forward, besides the movement of rupee against the dollar and crude oil price movement, the next batch of April to June 2018 quarterly earnings and developments in monsoon session of parliament will dictate trend on the bourses next week,” SMC Investments & Advisors Chairman and Managing Director D.K. Aggarwal told IANS.
On a weekly basis, the rupee strengthened by 19 paise to close at 68.66 from its previous week’s close of 68.85 per greenback.
In terms of investments, provisional figures from the stock exchanges showed that foreign institutional investors bought scrip worth Rs 2,539.58 crore during the previous week.
As per technical charts, the underlying trend for the National Stock Exchange (NSE) Nifty remains bullish as it closed last week on a new record high.
“It could now face resistance at 11,410 points-level, while downside support is at 11,071-points-mark,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Last week, the S&P BSE Sensex and NSE Nifty50 closed at their respective high levels on the back of healthy quarterly earnings and GST rate cuts on over 50 consumer items.
Consequently, the barometer 30-scrip Sensex of the BSE closed at 37,336.85 points — up 840.48 points or 2.30 per cent from the previous close.
Similarly, the wider Nifty50 on the National Stock Exchange (NSE) settled at 11,278.35 points, higher by 268.15 points or 2.44 per cent — from its previous week’s close.
(Rohit Vaid can be contacted at rohit.v@ians.in )
—IANS
