by admin | May 25, 2021 | Economy, Markets, News
Mumbai : A massive bout of profit bookings subdued the key indices of the Indian equities markets to close on a flat note after touching their record new intra-day highs on Friday.
Market observers said that expectations of healthy quarterly results and buying support for the auto and banking stocks had lifted the key indices.
On intra-day record high basis, the barometer 30-scrip Sensitive Index (Sensex) of the BSE touched 33,286.51 points, while broader 50-scrip Nifty at the National Stock Exchange (NSE) reached 10,366.15 points.
The NSE Nifty50 slipped by 21 points or 0.20 per cent to close at 10,323.05 points.
However, the Sensex of the BSE, which opened at 33,228.32 points, closed at 33,157.22 points, higher by 10.09 points or 0.03 per cent from Thursday’s close at 33,147.13 points.
The Sensex had touched an intra-day low of 33,164.42 points-mark.
“Nifty ended lower on Friday as selling pressure emerged in the afternoon session,” said Deepak Jasani, Head – Retail Research, HDFC Securities.
“Major Asian markets have ended on a positive note, barring the Jakarta and Taiwan indices. European indices like FTSE 100, CAC 40 and DAX are traded higher.”
According to Anand James, Chief Market Strategist, Geojit Financial Services: “Domestic indices remained volatile within a narrow range as a mixed bag of corporate numbers and profit booking in PSBs crippled the market’s momentum.”
“However, optimism in pharma and FMCG stocks guarded the key support levels. Small and midcap stocks continued to show strength ahead of MSME’s meeting with the GST council scheduled on Sunday.”
In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 640.95crore, whereas domestic institutional investors (DIIs) invested stocks worth Rs 56.57 crore.
On the currency front, the rupee weakened by 22 paise to close at 65.05 against the US dollar from its previous close at 64.82-83.
Sector-wise, the S&P BSE healthcare index surged by 223.88 points, followed by the automobile index higher by 214.01 points and the consumer durables index augmented by 50.79 points.
On the other hand, the S&P BSE banking index receded by 233.70 points and oil and gas index declined by 191.25 points while the telecom index inched-down by 84.14 points.
Major Sensex gainers on Friday were: Adani Ports and Special Economic Zone, up 4.31 per cent at Rs 431.85; Sun Pharma, up 3.65 per cent at Rs 550.35; ONGC, up 3.53 per cent at Rs 183.55; Tata Motors DVR, up 3.10 per cent at Rs 237.70; and Tata Motors, up 2.55 per cent at Rs 430.05.
Major Sensex losers were: Bharti Airtel, down 4.98 per cent at Rs 485.10; State Bank of India, down 3.03 per cent at Rs 310.95; Reliance Industries, down 1.88 per cent at Rs 929.45; Wipro, down 1.74 per cent at Rs 296.60; and NTPC, down 1.19 per cent at Rs 182.45.
—IANS
by admin | May 25, 2021 | Banking, Economy, Markets, News
Mumbai : Global cues, along with healthy buying in banking stocks and expectations of positive quarterly results, buoyed the key Indian equity indices during the mid-afternoon trade session on Tuesday.
According to market observers, healthy buying was witnessed in banking, oil and gas and metal stocks.
At 1.30 p.m., the 30-scrip Sensitive Index (Sensex), traded 80.60 points or 0.25 per cent higher.
The wider Nifty 50 of the National Stock Exchange (NSE) gained 23.15 points or 0.23 per cent at 10,208 points.
The Sensex of the BSE, which opened at 32,619.26 points, traded at 32,587.32 points (at 1.30 p.m.), higher by 80.60 points or 0.25 per cent from Monday’s close at 32,506.72 points.
The Sensex touched a high of 32,670.37 points and a low of 32,534.21 points during the intra-day trade so far.
“The BSE Sensex and the broader NSE’s Nifty 50 maintained their upward movement during the mid-afternoon session after the two key indices rose during the morning hours,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
—IANS
by admin | May 25, 2021 | Banking, Economy, Markets, News
Mumbai : A massive sell-off in banking sector stocks over fears of rising non-performing asset (NPA) levels pulled the key Indian equity indices lower on Wednesday.
According to market observers, heavy selling pressure in the banking, healthcare and consumer durables stocks, along with profit bookings eroded investors’ risk-taking appetite.
The 30-scrip Sensitive Index (Sensex) closed 24.81 points or 0.08 per cent lower during the day’s trade.
Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) closed on a negative note. It inched down by 23.60 points or 0.23 per cent to close at 10,210.85 points.
The Sensex of the BSE, which opened at 32,518.56 points, closed at 32,584.35 points, lower by 24.81 points or 0.08 per cent from Tuesday’s close at 32,609.16 points.
The Sensex touched a high of 32,670.32 points and a low of 32,462.85 points during the intra-day trade.
“Markets ended with modest losses on Wednesday ahead of a long Diwali weekend though volumes were higher. A bounce from the lows of the day helped to curb the losses,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Major Asian markets have ended on a mixed note. European indices like FTSE 100, CAC 40 and DAX traded higher. Technically, while the Nifty has taken a breather, the underlying trend remains up. Further upsides are likely once the immediate resistance of 10,236 points is taken out. Weakness could emerge if the supports of 10,176 points is broken.”
According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, investors’ fear of rising banking sector NPAs dragged the NSE Nifty lower on Wednesday.
“The NSE Nifty edged lower on Wednesday, retreating from record highs hit in the previous three sessions after a rise in bad loans at Axis Bank sparked concerns about the recovery of stressed assets in the country’s banking sector,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“Axis Bank contributed to most of the losses on the NSE index, and also led the losers on the NSE Bank index, which shed about 1.4 per cent.”
In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 1,251.16 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 904.27 crore.
On the currency front, the rupee remained flat. It inched lower by 2 paise to close at 65.04 against the US dollar from its previous close at 65.02.
Sector-wise, the S&P BSE oil and gas index surged by 195.76 points, followed by energy index by 102.65 points and utilities index by 28.05 points.
On the other hand, the S&P BSE banking index fell by 494.76 points, healthcare index by 114.07 points and consumer durables index by 104.53 points.
Major Sensex gainers on Wednesday were: Reliance Industries, up 4.52 per cent at Rs 913.75; PowerGrid, up 4 per cent at Rs 213.10; Wipro, up 1.92 per cent at Rs 295.05; ONGC, up 1.75 per cent at Rs 174.20; and Kotak Bank, up 1.67 per cent at Rs 1,097.40.
Major Sensex losers were: Axis Bank, down 9.52 per cent at Rs 464.35; ICICI Bank, down 3.96 per cent at Rs 263.05; Cipla, down 3.26 per cent at Rs 610.70; State Bank of India (SBI), down 2.77 per cent at Rs 244.20; and Lupin, down 1.66 per cent at Rs 1,048.90.
The day’s trade was also the last session of Samvat 2073, the barometer index (BSE Sensex) gained 4,654 points or 16.6 per cent, whereas the NSE Nifty swelled by 1,585 points or 18.4 per cent.
“Equities have had a good run in Samwat 2073 with the Nifty rising –18 per cent — till Oct 17, 2017,” elaborated Jasani.
—IANS
by admin | May 25, 2021 | Economy, Investing, Markets, News
Mumbai : Better-than-expected macroeconomic data boosted investors’ sentiment, which helped key Indian equity indices to touch a record high on Monday.
The 30-scrip Sensitive Index (Sensex) was trading 122.17 points or 0.38 per cent higher during the afternoon trade.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 39.45 points or 0.39 per cent higher at 10,206.90 points.
The Sensex of the BSE, which opened at 32,488.23 points, was trading at 32,554.86 points (at 1.54 p.m.), higher 122.17 points or 0.38 per cent from Friday’s close at 32,432.69 points.
The Sensex touched a high of 32,687.32 points and a low of 32,445.43 points in the trade so far.
“India’s benchmark Sensex and Nifty indices on Monday hit an all-time high after better-than-expected macroeconomic data boosted investor confidence. BSE Sensex rose 192.38 points, or 0.59 per cent, to 32,625.07, while the Nifty 50 gained 64.35 points, or 0.63 per cent, to 1″,231.80,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
Cooling of food prices helped ease India’s annual rate of inflation based on the Wholesale Price Index (WPI) in September to 2.6 per cent, official data showed on Monday.
According to data released by the Commerce Ministry, the WPI, with the revised base year of 2011-12, eased from 3.24 per cent in August. The wholesale inflation rate was at 1.36 per cent during Sepetember 2016.
“The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from 4.41 per cent in August to 1.99 per cent in September,” the statement said.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Paring the previous day’s losses, key Indian equity indices closed on a higher note on Thursday buoyed by positive global cues and intense buying activity during the last hour of trade.
Index heavyweights like Reliance Industries (RIL), Tata Consultancy Services (TCS), Sun Pharma, Axis Bank and Hindustan Unilever, among others, aided in the upward trajectory of the indices, according to market observers.
The 30-scrip Sensitive Index (Sensex) of the BSE closed above the psychologically important 32,000-mark, which was breached for the first time on July 13.
The Sensex closed at 32,182.22 points — up 348.23 points, or 1.09 per cent — after touching a high of 32,209.03 points and a low of 31,813.67 during intra-day trade.
The wider Nifty50 of the National Stock Exchange (NSE) surged by 111.60 points, or 1.12 per cent, to close at 10,096.40 points.
“After showing decline in the last session, Nifty shifted into a sharp upmove and closed the day higher by around 112 points, closing near the day’s high,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Technically, the Nifty by rising sharply today has nullified the negative pattern created in the last session. This is a positive indication, and one may expect further upmove in the next session,” Jasani asserted.
In terms of the broader markets, the S&P BSE mid-cap index rose by 0.98 per cent, while the small-cap index gained 1.15 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Market regained from yesterday’s loss and stayed close to 10,100-mark ahead of economic data, inflation and IIP (Index of Industrial Production) later during the day.”
“Good demand on consumer stocks on arrival of festival season and ecstasy on pharma stocks amid some positive regulatory approvals fuelled the market. Investor’s expectation on some tail winds in IT stocks ahead of results kept the counter busy,” Nair added.
On the currency front, the rupee strengthened by six paise to close at 65.08-09 against the US dollar from its previous close at 65.14-15.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 668.13 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 872.54 crore.
According to sources, RIL, the most valued company on BSE in terms of market capitalisation, touched its new high of Rs 876.20 per share on an intra-day basis.
On a closing basis, the market capitalisation of the company stood at Rs 5,52,515.10 crore, as shown on the BSE side.
“Shares of Reliance Industries rallied over four per cent to hit its record high of Rs 875 ahead of its September quarter earnings due tomorrow (Friday),” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
“Top gainers on the NSE were Hindalco, Infratel and Reliance Industries, while on the decline were Bharti Airtel, Ultratech Cement and Indian Oil Corporation,” Desai told IANS.
All the 19 sub-indices of the BSE ended in the green.
Sector-wise, the S&P BSE metal index surged by 266.16 points, followed by banking index by 257.27 points and automobile index by 245.75 points.
Major Sensex gainers on Thursday were: RIL, up 3.82 per cent at Rs 872.50; Sun Pharma, up 2.59 per cent at Rs 539.40; TCS, up 1.92 per cent at Rs 2,548.55; Axis Bank, up 1.77 per cent at Rs 524.65; and Hindustan Unilever, up 1.71 per cent at Rs 1,238.20.
Major Sensex losers were: Bharti Airtel, down 0.83 per cent at Rs 400.05; Coal India, down 0.46 per cent at Rs 282.40; Infosys, down 0.37 per cent at Rs 927.15; Asian Paints, down 0.03 per cent at Rs 1,160.10; and Power Grid, down 0.02 per cent at Rs 202.70.
—IANS
