by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Broadly negative global cues along with profit booking in metals, consumer durables and healthcare stocks and huge outflow of foreign funds led the key Indian equity indices to close on a flat-to-negative note on Tuesday.
According to market observers, investors were cautious ahead of the two-day US Federal Reserve meeting slated for later in the evening (India time).
The wider Nifty50 of the National Stock Exchange (NSE) touched a fresh high of 10,178.95 points during intra-day trade, but failed to sustain that level and closed at 10,147.55 points — marginally lower by 5.55 points or 0.05 per cent — from its previous session’s close.
The 30-scrip Sensitive Index (Sensex) of the BSE closed at 32,402.37 points — down 21.39 points, or 0.07 per cent, from its previous close, touching a high of 32,524.11 points and a low of 32,358.63 during intra-day trade.
The BSE market breadth was bearish with 1,309 declines and 1,297 advances.
In contrast, the broader market indices outperformed the Sensex, with the S&P BSE mid-cap index rising by 0.13 per cent and the small-cap index by 0.36 per cent.
“Markets ended marginally lower on Tuesday after a range bound session. Today’s losses came after the breakout seen yesterday indicating that the markets have taken a breather,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Major Asian markets have ended on a mixed note. European indices like FTSE 100 and CAC 40 traded higher,” he added.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market traded on a flat note as investors are turning more cautious on account of Fed policy meeting. Also, the concern on valuation and lack of supportive cues to outpace the resistance influenced investors to book some profit.”
During the day, the Indian rupee weakened by 19-20 paise to 64.33 against the US dollar from its previous close at 64.13-14.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 1,719.62 crore while domestic institutional investors (DIIs) divested stocks worth Rs 77.68 crore.
According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the Nifty hit a record high on Tuesday before erasing gains to trade slightly lower, dragged down by market heavyweights such as ITC.
“Broader sentiment was also cautious with investors awaiting the Federal Reserve’s policy statement this week for fresh hints on the possible pace and timing of further US monetary tightening,” Desai told IANS.
Sector-wise, the S&P BSE metals automobile index fell by 81.10 points, capital goods index by 71.14 points and consumer durables index by 58.81 points.
On the other hand, the S&P BSE oil and gas index surged by 175.67 points, automobile index by 151.97 points and banking index was up 36.94 points.
Major Sensex gainers on Tuesday were: Tata Motors, up 4.58 per cent at Rs 423.90; Tata Motors (DVR), up 3.22 per cent at Rs 240.65; Kotak Bank, up 1.63 per cent at Rs 1,035.50; Cipla, up 0.61 per cent at Rs 573.50; and ICICI Bank, up 0.60 per cent at Rs 294.35.
Major Sensex losers were: Coal India, down 2.49 per cent at Rs 258.20; HDFC, down 1.02 per cent at Rs 1,752.85; Larsen and Toubro, down 0.92 per cent at Rs 1,226.40; State Bank of India, down 0.87 per cent at Rs 267.80; and Sun Pharma, down 0.84 per cent at Rs 516.60.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Positive global cues, along with healthy buying in automobile, capital goods and banking stocks, lifted the Indian equity markets, with the NSE Nifty50 touching record high levels during the mid-afternoon trade session on Monday.
According to market observers, the rally was aided by persistent pumping in of funds by domestic investors.
At 12.30 p.m., the wider 51-scrip Nifty50 of the National Stock Exchange (NSE) traded at a fresh new level of 10,164.25 points — up 78.85 points or 0.78 per cent — after touching a record intra-day high of 10,167.15 points.
Earlier, the Nifty50 had touched a record intra-day high of 10,137.85 points on August 2.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,361.37 points, traded at 32,474.38 points — up 201.77 points, or 0.63 per cent, from its Friday’s close at 32,272.61 points.
The Sensex has so far touched a high of 32,508.06 points and a low of 32,361.25 during intra-day trade.
The BSE market breadth was bullish — 1,586 advances and 827 declines.
“Benchmark indices opened higher with Nifty hitting new record high, crossing 10,150, surpassing the previous milestone of 10,137,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
“Strong buying from domestic institutional investors (DIIs) has supported the 24 per cent rally in Indian stock markets this year. According to estimates, they have pumped in around Rs 70,000 crore into stock markets this year till September,” Desai told IANS.
On Friday, the benchmark indices closed on a flat note as weak global cues on the back of recurring geo-political tensions, coupled with profit booking, subdued investors’ sentiments.
The Sensex closed with marginal gains at 32,272.61 points — up 30.68 points, or 0.10 per cent, while the Nifty50 inched down 1.20 points, or 0.01 per cent, to close at 10,085.40 points.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Weak global cues on the back of recurring geo-political tensions, coupled with profit booking in banking, capital goods, FMCG and healthcare sectors, subdued investors’ sentiments and led the key Indian equity indices — the BSE Sensex and NSE Nifty50 — to close on a flat note on Friday.
The 30-scrip Sensitive Index (Sensex) of the BSE, which slid into the red during the day’s trade, closed with marginal gains at 32,272.61 points — up 30.68 points, or 0.10 per cent.
However, the BSE market breadth was bearish — with 1,457 declines and 1,112 advances.
On the other hand, the wider 51-scrip Nifty50 of the National Stock Exchange (NSE) inched down 1.20 points, or 0.01 per cent, to close the day at 10,085.40 points.
“Markets ended flat on Friday after a volatile session. The volatility came on the back of return of geopolitical tensions as North Korea launched a missile near east of Japan,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Major Asian markets ended on a positive note, barring the Shanghai and Straits indices. European indices like FTSE 100, DAX and CAC 40 traded lower,” he added.
In terms of broader market indices, the S&P BSE mid-cap index fell by 0.28 per cent, whereas the small-cap index rose by 0.38 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Nifty continued to face resistance above 10,100 level due to weak global cues and continued hostility in Asia. US bond yields rose as CPI August data inched higher to 0.4 per cent leading to risk of Fed interest rate hike in December.”
“Continued FII (foreign institutional investors) selling and tightening monetary policies in US will curtail the easy liquidity, which is making investors cautious,” said Nair.
In investments, provisional data with the exchanges showed that FIIs sold scrip worth Rs 8,043.58 crore during September 1-14.
On a daily basis, the FIIs purchased scrip worth Rs 418.86 crore and the DIIs (domestic institutional investors) worth Rs 125.55 crore during the day’s trade.
The Indian rupee strengthened by 4-5 paise to 64.07-08 against the US dollar from its previous close at 64.12.
“Indian shares fell on Friday tracking lower Asian markets, as geo-political tensions following another missile launch by North Korea dampened sentiment and as profit taking was seen in recent outperformers such as banks and pharma stocks,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
“Sun Pharmaceutical Industries and Dr. Reddy’s Laboratories, which gained in the last three sessions, fell 1.65 per cent and 1.94 per cent, respectively. State-owned Oil and Natural Gas Corporation, however, rose as much as 4.4 per cent, the top percentage gainer on the NSE index, and in line to snap a three-session losing run,” Desai told IANS.
Sector-wise, the S&P BSE banking index fell by 98.30 points, capital goods index by 66.19 points, and the healthcare and FMCG indices by 26.42 points each.
On the other hand, the S&P BSE IT index was up 103.78 points, Teck (technology, media and entertainment) index by 43.63 points and the oil and gas index by 43.13 points.
Major Sensex gainers on Friday were: ONGC, up 4.71 per cent at Rs 166.90; Bajaj Auto, up 3.19 per cent at Rs 3,022.05; Coal India, up 1.94 per cent at Rs 259.90; Infosys, up 1.83 per cent at Rs 908.60; and Wipro, up 0.65 per cent at Rs 285.75.
Major Sensex losers were: Dr. Reddy’s Lab, down 1.77 per cent at Rs 2,210.25; ITC, down 0.92 per cent at Rs 269.35; NTPC, down 0.77 per cent at Rs 167.30; State Bank of India, down 0.68 per cent at Rs 272.05; and Tata Motors, down 0.66 per cent at Rs 401.25.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Key Indian equity indices — the NSE Nifty50 and the BSE Sensex — traded on a flat note during the mid-afternoon session on Thursday on the back of broadly positive Asian markets and healthy buying in automobile, metal and healthcare stocks.
Around 12 p.m., the wider 51-scrip Nifty50 of the National Stock Exchange (NSE) was up 12.25 points, or 0.12 per cent, to trade at 9,928.45 points.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,738.74 points, traded at 31,677.34 points — up 15.37 points, or 0.05 per cent, from its previous close at 31,661.97 points.
The Sensex has so far touched a high of 31,814.96 points and a low of 31,666.70 points during intra-day trade.
The BSE market breadth was bullish with 1,421 advances and 878 declines.
“The markets opened higher taking lead from Asian markets and Wall Street after US President Donald Trump and congressional leaders agreed to raise the government debt limit until December, eliminating the risk of a government shutdown for now,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“The Indian rupee strengthened marginally against the US dollar. The shares of Coal India, Adani Ports, ICICI Bank rose, whereas the shares of NTPC and HDFC Bank fell.”
On Wednesday, the benchmark indices were pulled lower by negative global cues, coupled with heavy selling pressure in index heavyweights like Sun Pharma and ITC and substantial outflow of foreign funds.
The Nifty50 fell by 36 points, or 0.36 per cent, to close at 9,916.20 points, while the Sensex closed at 31,661.97 points — down 147.58 points, or 0.46 per cent.
—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
