by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Key Indian equity indices on Friday closed the last trading day of calendar year 2017 on a higher note as positive global cues, along with a strong rupee and healthy buying in auto, IT and consumer durables stocks gave a boost to investors’ sentiments.
On a closing basis, the broader Nifty50 of the National Stock Exchange (NSE) rose by 52.80 points or 0.50 per cent to 10,530.70 points.
The barometer 30-scrip Sensitive Index (Sensex) reclaimed the important 34,000-level and closed at 34,056.83 points — up 208.80 points or 0.62 per cent — from its previous session’s close.
The BSE market breadth indicated a bullish trend as 1,562 stocks advanced as compared to 1,213 declines.
“Markets surged higher on Friday after two sessions of negative closings. It was the first trading session of the January 2018 derivative series and it was the last trading session of the year 2017,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
“The rally came on the back of positive global cues. Broad market indices like the BSE mid-cap and small-cap indices gained more, thereby outperforming the main indices,” he added.
The S&P BSE mid-cap index closed higher by 0.74 per cent and the small-cap index by 0.64 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market surprised the investors with a positive note on the final trading day of 2017. Expectation of a pick up in third quarter earnings and strengthening of rupee supported the sentiment.”
“Focus on upcoming union budget and government’s reforms will direct investors to turn sector/stock specific. We feel that though the outlook on main indices is moderate in the short to medium-term, the broad market will maintain its vibrancy as businesses flourish,” he added.
On the currency front, the Indian rupee strengthened by 21 paise to close at 63.87 against the US dollar from its previous close at 64.08.
Provisional data with the exchanges showed that foreign institutional investors purchased scrips worth Rs 595.04 crore while domestic institutional investors bought stocks worth Rs 461.37 crore.
Sectorwise, the S&P BSE auto index rose by 306.74 points, followed by consumer durables index by 191.32 points and IT index by 134.27 points.
On the other hand, the S&P BSE oil and gas index fell by 75.45 points, metal index by 66.12 points and energy index by 12.46 points.
Major Sensex gainers on Friday were: Tata Motors, up 3.06 per cent at Rs 431.20; Tata Motors (DVR), up 2.99 per cent at Rs 244.80; Axis Bank, up 2.74 per cent at Rs 562.40; Tata Consultancy Services, up 2.72 per cent at Rs 2,700.40; and Hero MotoCorp, up 2.38 per cent at Rs 3,802.
Major Sensex losers were: Dr. Reddy’s Lab, down 0.71 per cent at Rs 2,414.40; Reliance Industries, down 0.36 per cent at Rs 921.05; Tata Steel, down 0.30 per cent at Rs 732.45; Bharti Airtel, down 0.20 per cent at Rs 530; and HDFC Bank, down 0.19 per cent at Rs 1,871.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Amid volatility on the day of futures and options (F&O) expiry, key Indian equity indices on Thursday gave up all gains to close on a flat note — marginally in the red — with heavy selling pressure in banking, auto, and oil and gas stocks.
On a closing basis, the broader NSE Nifty50 of the National Stock Exchange (NSE) slipped by 12.85 points or 0.12 per cent to 10,477.90 points — falling below the important 10,500-level.
The barometer 30-scrip Sensitive Index (Sensex) closed at 33,848.03 points — down 63.78 points or 0.19 per cent — from its previous session’s close.
However, the BSE market breadth indicated a bullish trend with 1,436 stocks advancing as compared to 1,332 declines.
“Markets ended with marginal losses on Thursday on the back of the derivatives expiry of the December 2017 series. Selling in the last half an hour of trade pulled the indices into negative territory,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
“The sudden increase in volatility was probably due to the roll-over of positions in the F&O segment from the December series to the January 2018 series. Metal and mining stocks rose as copper prices rose in global markets,” he added.
In terms of the broader markets, the S&P BSE mid-cap index closed higher by 0.10 per cent and the small-cap index by 0.32 per cent.
On the currency front, the Indian rupee strengthened by seven paise to close at 64.08 against the US dollar from its previous close at 64.15.
Provisional data with the exchanges showed that foreign institutional investors purchased scrips worth Rs 562.55 crore while domestic institutional investors sold stocks worth Rs 774.09 crore.
Anand James, Chief Market Strategist, Geojit Financial Services, said: “Short covering rallies did not gather momentum ahead of the New Year weekend, but the metal and realty sectors gave some respite to an otherwise insipid session.”
“Soaring oil prices potential for exceeding the fiscal deficit targets, are closely eyed, as the Oil Ministry has estimated a 15 per cent swell in the oil imports bill. Also, investors cautiously waited for updates on the IBC (Insolvency and Bankruptcy Code) Amendment Bill tabled in the Lok Sabha, which dragged the PSU bank stocks,” he added.
Sectorwise, the S&P BSE auto index fell by 94.03 points, followed by banking index by 78.09 points and oil and gas index by 75.32 points.
On the other hand, the S&P BSE metal index surged by 300.27 points, realty index by 74.90 points and basic materials index by 35.53 points.
Major Sensex gainers on Thursday were: Tata Steel, up 1.78 per cent at Rs 734.65; Dr. Reddy’s Lab, up 1.30 per cent at Rs 2,431.75; HDFC Bank, up 0.82 per cent at Rs 1,873; Wipro, up 0.72 per cent at Rs 307.55; and ICICI Bank, up 0.51 per cent at Rs 314.25.
Major Sensex losers were: State Bank of India, down 1.86 per cent at Rs 308.30; Hero MotoCorp, down 1.74 per cent at Rs 3,713.50; Sun Pharma, down 1.70 per cent at Rs 567.90; Adani Ports, down 1.35 per cent at Rs 398.10; and Axis Bank, down 1.29 per cent at Rs 547.40.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Wiping off the day’s initial losses, the key indices of the Indian equity markets provisionally closed Tuesday’s trade at new highs.
The barometer 30-scrip Sensitive Index (Sensex) closed above the 34,000-level for the first time at 34,010.61 — up 70.31 points or 0.21 per cent from Friday’s closing high of 33,940.30 points.
The Sensex scaled a fresh high of 34,061.88 points on an intra-day basis, surpassing its Friday’s (December 22) intra-day high of 33,964.28 points.
The BSE market breadth was bullish as 1,676 stocks advanced as compared to 1,071 declines.
On the National Stock Exchange, the wider Nifty50 closed higher by 38.50 points or 0.37 per cent at a fresh level of 10,531.50 points. The Nifty touched a new high of 10,545.45 points on an intra-day basis.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : After trading on a tepid note for the entire day, the key Indian equity indices on Thursday closed a rangebound trade session in the red as weak global cues, along with heavy selling in auto stocks, kept investors’ sentiments subdued.
According to market observers, the sentiment in the market was weak after the release of minutes of the Reserve Bank of India’s (RBI) latest monetary policy meeting on Wednesday where sharp warnings on inflation trend were issued.
However, following the day’s development, telecom stocks like Reliance Communications (up 4.05 per cent) and Idea Cellular (up 3.37 per cent) closed higher after a Delhi court acquitted all the accused in the alleged multi-thousand crore rupee 2G spectrum scandal.
On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) inched lower by 3.90 points or 0.04 per cent to 10,440.30 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,756.28 points — down 21.10 points or 0.06 per cent — from its previous close.
In contrast, the BSE market breadth remained bullish as 1,689 stocks advanced as compared to 1,030 declines.
“Markets ended lower on Thursday for the second consecutive session after a range-bound session of trade. Global cues too were subdued,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
“Technically, the Nifty seems to be in consolidation mode after the recent rise. Further, directional cues are likely to emerge on a move beyond the 10,410-10,495 trading range,” Jasani added.
In the broader markets, the S&P BSE mid-cap index was up by 0.77 per cent and the small-cap index by 1.11 per cent.
On the currency front, the Indian rupee strengthened by 5-6 paise to close at 64.05-06 against the US dollar from its previous close at 64.11.
Provisional data with the exchanges showed that foreign institutional investors sold scrips valued at Rs 383.99 crore while domestic institutional investors purchased stocks valued at Rs 1,574.30 crore.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market showed signs of consolidation due to lack of fresh triggers to cross the next resistance while RBI’s cautious view on slow pace in economic recovery and inflation impacted the sentiment.”
“Construction companies rallied owing to expectation of improvement in execution in H2FY18 and growth in order booking led by governments program to boost infrastructure growth,” he added.
Sector-wise, the BSE S&P auto index declined by 203.68 points, followed by banking index by 75.19 points and oil and gas index by 22.88 points.
On the other hand, the S&P BSE capital goods index rose by 266.25 points, healthcare index by 109.06 points and metal index by 96 points.
Major Sensex gainers on Thursday were: Larsen and Toubro, up 1.92 per cent at Rs 1,253.80; Tata Steel, up 1.84 per cent at Rs 715.50; Hero MotoCorp, up 1.45 per cent at Rs 3,795; NTPC, up 0.90 per cent at Rs 180.15; and Infosys, up 0.81 per cent at Rs 1,021.55.
Major Sensex losers were: Mahindra and Mahindra, down 3.74 per cent at Rs 742.10; Maruti Suzuki, down 1.11 per cent at Rs 9,629.15; Hindustan Unilever, down 1.09 per cent at Rs 1,346.50; Bajaj Auto, down 1.08 per cent at Rs 3,265.45; and Axis Bank, down 0.99 per cent at Rs 549.40.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Negative European indices, coupled with heavy selling pressure in banking and auto stocks, pulled the key Indian equity indices lower on Wednesday.
The equity indices recorded fresh intra-day high levels before giving up gains to provisionally close in the red.
On an intra-day basis, the barometer 30-scrip Sensitive Index (Sensex) of the BSE touched a record high level of 33,956.31 points, surpassing its previous high of 33,865.95 points recorded on November 7.
The BSE Sensex provisionally closed (at 3.30 p.m.) at 33,777.38 points — down 59.36 points or 0.18 per cent — from its previous close.
However, the BSE market breadth was bullish as 1,585 stocks advanced as compared to 1,122 declines.
The wider Nifty50 of the National Stock Exchange (NSE) provisionally closed lower by 19 points or 0.18 per cent at 10,444.20 points.
During the day’s trade, the NSE Nifty50 edged higher to a new intra-day level of 10,494.45 points, crossing its previous intra-day high of 10,490.45 points scaled on November 6.
Dr. Reddy’s Lab, Bharti Airtel, Mahindra and Mahindra, Tata Steel and HDFC were the top losers on the BSE.
On Tuesday, the benchmark equity indices closed at new highs as sentiments were given a boost by soaring automobile stocks, along with a strengthened rupee.
On a closing basis, the BSE Sensex scaled a new high of 33,836.74 points — up 235.06 points or 0.70 per cent from its previous close, while the NSE Nifty50 edged higher by 74.45 points or 0.72 per cent to a new closing high 10,463.20 points.
—IANS
