by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Expectation of a healthy rural demand on the back of the government’s enhanced farm sector support buoyed the key Indian equity indices on Wednesday.
Additionally, positive economic data on services sector and healthy buying in automobile and banking sector stocks pushed the indices higher, despite broadly negative global cues.
Consequently, the 30-scrip Sensitive Index (Sensex) zoomed by 266.80 points or 0.75 per cent.
Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) ended the day’s trade in the positive territory. It gained 70 points or 0.65 per cent at 10,769.90 points.
The Sensex of the BSE, which opened at 35,385.52 points, ended at 35,645.40 points, higher by 266.80 points or 0.75 per cent from the previous day’s close at 35,378.60 points.
The Sensex touched a high of 35,667.31 points and a low of 35,309.67 during the intra-day trade.
“Markets rallied strongly on Wednesday as it broke out of the recent trading
range. The gains came despite mixed Asian cues,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
“Positive economic data (Nikkei India Services Business Activity Index and Nikkei India Composite PMI Output Index) boosted investor sentiments.”
According to Vinod Nair, Head of Research, Geojit Financial Services said: “After an insipid start, the market gained momentum on account of better auto sales and govt’s announcement of increase in minimum support price (MSP).”
“Rural income and spending power will increase due to higher minimum price and progressing monsoon which may result in higher demand for consumption oriented stocks. Gradual fall in domestic yield and stability in oil price may add provide some direction in the market.”
Globally, major Asian markets closed on a mixed note, while European indices like FTSE
100 and DAX traded in the red.
On the currency front, the rupee ended at 68.74 per dollar, 16 paise weaker than its previous close of 68.58 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 284.58 crore while the domestic institutional investors bought stocks worth Rs 611.01 crore.
Sector-wise, the S&P BSE automobile index gained the most, by 313.70 points, followed by the banking index which ended 201.19 points higher while the healthcare index was up 113.85 points.
On the other hand, the S&P BSE consumer durables index fell by 103.05 points, the IT index was down 85.05 points and the TECK index ended lower by 39.89 points from its previous close.
The major gainers on the Sensex were Bajaj Auto, up 3.95 per cent at Rs 2,978.20; Maruti Suzuki, up 2.69 per cent at Rs 9,220.80; HDFC, up 2.09 per cent at Rs 1,922.85; Hindustan Unilever, up 2.03 per cent at Rs 1,676.15; and Reliance Industries, up 1.90 per cent at Rs 990.05 per share.
The top losers were NTPC, down 1.32 per cent at Rs 153; Vedanta, down 1.21 per cent at Rs 228.15; ONGC, down 1.20 per cent at Rs 155.95; Bharti Airtel, down 1.01 per cent at Rs 366.45; and Tata Motors, down 0.93 per cent at Rs 267 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Reviving from early losses, the key Indian equity indices on Tuesday closed in the green, supported by healthy buying in healthcare, auto and oil and gas stocks.
The indices had opened on a flat-to-negative note, tracking mixed Asian markets where caution prevailed due to the ongoing trade war concerns. The European markets, however, traded on a positive note.
According to market analysts, appreciation in the Indian rupee also supported the investor sentiments in the domestic market.
Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,699.90 points — higher by 42.60 points or 0.40 per cent from its previous close of 10,657.30 points.
The barometer 30-scrip Sensex on the Bombay Stock Exchange (BSE), which had opened at 35,344.21 points, closed at 35,378.60 points — up 114.19 points or 0.32 per cent from its previous session’s close of 35,264.41 points.
Sensex touched a high of 35,445.21 points and a low of 35,195.63 points during the intra-day trade. The BSE market breadth was largely even with 1,317 advances against 1,290 declines.
In the broader markets, the S&P BSE mid-cap rose by 0.69 per cent and the S&P BSE small cap ended 0.44 per cent higher from its previous close.
“Nifty witnessed an upside bounce today, amidst a choppy trend,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Asian markets closed mixed and European markets traded in the green, he said, adding that “the underlying short-term trend is slightly positive”.
According to Dhruv Desai, Tradebulls’ Director and Chief Operating Officer, Sensex and Nifty traded cautious amid trade war tensions between the US and China.
On the currency front, the rupee ended at 68.58 per dollar, 22 paise stronger than its previous close of 68.80 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1,043.31 crore while the domestic institutional investors bought stocks worth Rs 278.84 crore.
Sector-wise, the S&P BSE healthcare index gained the most, by 251.26 points, followed by the auto index which ended 238.79 points higher while the oil and gas index was up 105.95 points.
On the other hand, the S&P BSE banking index fell by 55.96 points, the metal index was down 34.59 points and the consumer durables index ended lower by 18.58 points from its previous close.
The major gainers on the Sensex were Sun Pharma, up 1.79 per cent at Rs 573.65; Maruti Suzuki, up 1.72 per cent at Rs 8,979.50; Infosys, up 1.44 per cent at Rs 1,353.65; ONGC, up 1.28 per cent at Rs 157.85; and Hero MotoCorp, up 1.17 per cent at Rs 3,453.50 per share.
The top losers were Vedanta, down 3.25 per cent at Rs 230.95; ICICI Bank, down 1.62 per cent at Rs 272.95; HDFC, down 0.56 per cent at Rs 1,883.45; State Bank of India, down 0.52 per cent at Rs 257.75; and Power Grid, down 0.40 per cent at Rs 184.50 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Broadly negative global markets subdued the key Indian equity indices on Thursday. Indices on both the BSE and the National Stock Exchange (NSE) ended in the red after a largely volatile trade throughout the day.
Concerns of a renewed global trade war dampened investor sentiments in the international markets, analysts said.
The key indices had opened on a positive note but could not hold on to the gains for long, with heavy selling pressure on auto, capital goods and consumer durables stocks.
Index-wise, the wider Nifty50 of the NSE closed at 10,741.10 points, down 30.95 points or 0.29 per cent from the previous close of 10,772.05 points.
Similarly, the BSE Sensex, which had opened at 35,644.05 points, closed at 35,432.39 points — down 114.94 points or 0.32 per cent from its previous session’s close of 35,547.33 points.
The Sensex touched an intra-day high of 35,678.69 points and a low of 35,396.97 points. The BSE market breadth was bearish with 1,793 declines against 808 advances.
“Markets ended lower on Thursday after correcting from a high of 10,810 points (Nifty50). Weak global cues from trade tensions and oil price direction dampened the sentiments,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Major Asian markets have closed on a negative note and the European indices like FTSE 100, CAC 40 and DAX traded in the red, he added.
On the currency front, the Indian rupee appreciated by nine paise against the US dollar to 67.99, from its previous close of 68.08 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors bought scrip worth Rs 1,126.75 crore and the domestic institutional investors bought stocks worth Rs 663.57 crore.
Sector-wise, the S&P BSE oil and gas index was the only gainer on Thursday, ending 85.89 points higher from its previous close.
On the other hand, S&P BSE auto slumped 223.81 points, the capital goods index was down 196.03 points and the consumer durables index ended lower by 171.09 points.
Stock-wise, the major gainers on the Sensex were ICICI Bank, up 1.47 per cent at Rs 297.55; Reliance Industries, up 1.22 per cent at Rs 1,032.35; HDFC, up 0.35 per cent at Rs 1,853; Tata Motors, up 0.31 per cent at Rs 306.55; and Infosys, up 0.24 per cent at Rs 1,246.35 per share.
The top losers were Mahindra and Mahindra, down 2.11 per cent at Rs 883.60; ONGC, down 1.9 per cent at Rs 159.70; Power Grid, down 1.88 per cent at Rs 195.85, State Bank of India, down 1.67 per cent at Rs 268.70; and Sun Pharma, down 1.6 per cent at Rs 554.60 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Broadly negative global cues, along with persistent selling by foreign investors and profit booking subdued the Indian equity indices on Tuesday.
According to market observers, a depreciation in the rupee and a slight rise in global crude oil prices also eroded investor sentiments.
Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,633.30 points — down by 55.35 points or 0.52 per cent — from its previous close of 10,688.65 points.
Similarly, the barometer 30-scrip Sensitive Index (Sensex), which had opened at 35,213.14 points ended in the red. It closed at 34,949.24 points — lower by 216.24 points or 0.61 per cent — from its previous session’s close of 35,165.48 points.
The Sensex touched a high of 35,234.14 points and a low of 34,922.18 points during the intra-day trade.
In the broder market the S&P BSE mid-cap declined by 0.44 per cent and the S&P BSE small-cap ended 0.26 per cent lower that its previous close. The BSE market breadth was tilted towards the bears with 1,470 declines against 1,214 advances.
“Markets corrected on Tuesday after three sessions of gains. The weakness came on the back of weak global cues mainly led by crisis in Italy and its repercussions on EU (European Union),” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Jasani further told IANS: “Major Asian markets have closed on a negative note. European indices like FTSE 100, CAC 40 and DAX are trading in the red.”
Tradebulls’s Director and Chief Operating Officer, Dhruv Desai said: “Sensex and Nifty traded on the lower side, following mixed sentiment in global equities and selling by foreign investors.”
Further, on the currency front, the Indian rupee weakened by 43 paise against the US dollar to 67.87, from its previous close at 67.44 per greenback.
Besides, provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 795.06 crore, while the domestic institutional investors bought stocks worth Rs 1,017.65 crore.
Sector-wise, the S&P BSE auto index rose by 106.12 points, the oil and gas index was up by 69.44 points and the IT index gained by 44.81 points.
On the other hand, the S&P BSE banking index plunged by 480.26 points, the consumer durable index fell by 162.89 points and the healthcare index ended 105.90 points lower.
The major gainers on the Sensex were Mahindra and Mahindra, up 2.26 per cent at Rs 868.80; Bharti Airtel, up 1.08 per cent at Rs 378.25; Tata Consultancy Services (TCS), up 0.54 per cent at Rs 3,522.70; Hero MotoCorp, up 0.43 per cent at Rs 3,612.35; and Infosys, up 0.18 per cent at Rs 1,216.65 per share.
The top losers were ICICI Bank, down 2.87 per cent at Rs 290.65; State Bank of India, down 2.70 per cent at Rs 264.90; IndusInd Bank, down 2.08 per cent at Rs 1,877.55; Yes Bank, down 1.78 per cent at Rs 338.45; and Asian Paints, down 1.54 per cent at Rs 1,299.15 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : The Indian equity markets rose for the second consecutive day on Friday as a fall in global crude oil prices along with strengthened rupee enhanced investors’ risk-taking appetite.
However, geopolitical uncertainties after US President Donald Trump pulled out of the planned talks with North Korea’s leader Kim Jong-un capped gains.
Index-wise, the wider Nifty50 of the National Stock Exchange (NSE) closed at 10,605.15 points, up 91.30 points or 0.87 per cent from the previous close of 10,513.85 points.
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 34,753.47 points, closed at 34,924.87 points — up 261.76 points or 0.76 per cent — from its previous session’s close of 34,663.11 points.
The Sensex touched a high of 35,017.93 and a low of 34,700.52 points. The BSE market breadth was bullish with 1,599 advances and 1,037 declines.
“Continued buying by domestic institutions helped to push the markets higher. Gain in
rupee and fall in crude prices helped sentiments,” HDFC Securities’ Head of Retail Research Deepak Jasani told IANS.
“Major Asian markets have closed on a mixed note. European indices like FTSE 100, CAC 40 and DAX are trading in the green.”
On the currency front, the Indian rupee strengthened by 65 paise against the US dollar to 67.78, from its previous close at 68.43 per greenback.
Besides, provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 768.29 crore, while the domestic institutional investors bought stocks worth Rs 887.76 crore.
Sector-wise, the S&P BSE oil and gas index surged by 412.34 points, the auto index rose by 404.63 points and the banking index gained by 299.14 points.
On the other hand, the S&P BSE consumer durables index was the only sector-wise loser, which fell by 62.27 points.
The major gainers on the Sensex were ONGC, up 4.59 per cent at Rs 175.35; Tata Steel, up 3.43 per cent at Rs 567.20; Yes Bank, up 2.71 per cent at Rs 339.45; Adani Ports, up 2.34 per cent at Rs 379.90; and IndusInd Bank, up 2.33 per cent at Rs 1,914.75 per share.
The top losers were Coal India, down 1.36 per cent at Rs 276.05; ITC, down 1.04 per cent at Rs 271.95; State Bank of India, down 0.56 per cent at Rs 267; Tata Consultancy Services, down 0.43 per cent at Rs 3,589.45; and ICICI Bank, down 0.25 per cent at Rs 296.50 per share.
—IANS
