by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Negative global cues along with a weak rupee led the the key domestic equity indices in the negative territory, during the afternoon session of the trade on Thursday.
Consequently, the barometer Sensex slipped below the 34,000-mark and the NSE’s Nifty50 also dropped below the psychological 10,200 point mark.
Except for IT, oil and gas counters, all the sectors witnessed heavy selling pressure led by banking, finance and healthcare stocks.
The domestic currency was trading at Rs 73.30 to a US dollar from its previous close of 73.15. Also, the crude oil prices continued to ease at around $75.76 a barrel.
The S&P BSE Sensex opened at 33,778.60 points from its previous close of 34,033.96 points and at 1.12 p.m it traded at 33,768.19 points down 265.77 points or 0.78 per cent.
It touched an intra-day high of 33,807.93 points and a low of 33,553.18 points.
The NSE Nifty50 traded at 10,149.10 points during the afternoon trade session, down 75.65 points and 0.74 per cent.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Key equity indices rose on Monday, wiping off initial losses, as wholesale inflation grew at a slower pace and amid bets of robust corporate earnings in the second quarter ended September 30.
However, a slight rise in global crude oil prices pressured the Indian rupee, capping the gains.
Healthy buying was witnessed in information technology and healthcare counters, market participants said.
“Market traded in a rangebound manner, ending on a positive note. However, concerns about global growth due to trade war (between the US and China) and rising cost of funds are weighing on the market,” said Vinod Nair, Head of Research, Geojit Financial Services.
The benchmark S&P BSE Sensex settled at 34,865.10 points, up 131.52 points or 0.38 per cent. The NSE Nifty closed at 10,512.50, up 40 points or 0.38 per cent. The Sensex touched an intra-day high of 35,008.65 and a low of 34,559.98.
India’s annual rate of inflation based on wholesale prices accelerated 5.13 per cent on year in September from a 4.53 per cent increase in August, official data showed here on Monday.
“The rupee continued to be under pressure, as oil prices resumed an uptrend due to tension between the US and Saudi Arabia. Second-quarter results began on a positive note,” said V.K. Sharma, Head, PCG and Capital Markets Strategy, HDFC Securities.
Astha Jain, Senior Analyst, Hem Securities, told IANS: “Today’s rise can be attributed to healthy buying after the major correction last week.”
On Monday, the Indian rupee closed at 73.83, sliding 27 paise from its previous close of 73.56 per US dollar.
Provisional data with the exchanges showed that foreign institutional investors sold stocks worth Rs 67.86 crore, whereas domestic institutional investors bought Rs 294.78 crore worth of stocks.
The top gainers in Sensex were Infosys, up 2.95 per cent at Rs 699.10; ITC, up 2.51 per cent at Rs 281.60; ONGC, up 1.78 per cent at Rs 160; TCS, up 1.60 per cent at Rs 1,949.15.
Major losers included Hindustan Uniliver, down 2.68 per cent at Rs 1,526.60; Mahindra and Mahindra, down 2.63 per cent at Rs 748.60; ICICI Bank, down 1.76 per cent at Rs 313.20; Vedanta, down 1.52 per cent at Rs 210.95; and Axis Bank, down 1.51 per cent at Rs 575.85 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Positive global cues on easing trade protectionist measures along with an appreciation in the Indian rupee lifted the key equity indices — S&P BSE Sensex and the NSE Nifty50 — to settle at fresh high levels on Monday.
On a intra-day basis, the BSE Sensex touched a fresh high of 38,340.69 points, while the Nifty50 climbed a peak of 11,565.30 points.
Index-wise, the wider NSE Nifty50 closed at 11,551.75 points, up 81 points or 0.71 per cent from its previous close of 11,470.75 points.
The benchmark BSE Sensex which had opened at 38,075.07 points, closed at 38,278.75 points, higher by 330.87 points or 0.87 per cent from its previous close of 37,947.88 points. It touched an intra-day low of 38,050.69 points.
In the broader markets, the S&P BSE Mid-cap ended higher by 1.05 per cent and the S&P BSE Small-cap rose by 0.14 per cent.
The BSE market breadth was tilted towards the bulls with 1,437 advances and 1,307 declines.
“Positive global stocks, optimism over a trade resolution between the USA and China and strong institutional activity at home fuelled investor sentiment and pushed the bourses to close the day with gains,” Abhijeet Dey, Senior Fund Manager for equities at BNP Paribas Mutual Fund.
The two economic giants are expected to hold lower-level trade talks this month, offering hope that they might resolve an escalating tariff war, Dey added.
Accordingly, major Asian markets closed on a positive note, barring the Nikkei and Straits indices and European indices including FTSE 100, DAX and CAC 40 traded in the green, said Deepak Jasani, Head of Retail Research at HDFC Securities.
Besides, global cues, the appreciation in Indian rupee supported the indices’ upward movement.
On Monday, the Indian rupee appreciated by 33 paise to settle at 69.83 per US dollar, from its record closing low of 70.16 per dollar on the previous trade session.
“The rupee has appreciated today as the US dollar index has witnessed profit booking,” Anand Rathi Shares and Stock Brokers’ Research Analyst Rushabh Maru told IANS.
“There is an optimism in the market that US and China would find a solution for ongoing trade conflict. So that has also supported the rupee.”
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 483.04 crore and the domestic institutional investors purchased stocks worth Rs 593.22 crore.
Sector-wise, the S&P BSE capital goods index rose 668.41 points, the metal index was up 332.36 points and the auto index rose by 244.22 points.
In contrast, the S&P BSE IT index declined by 188.84 points, consumer durables fell 127.24 points and Teck (entertainment, technology and media) index ended lower by 76.07 points from its previous close.
The major gainers on the Sensex were Larsen and Toubro, up 6.74 per cent at Rs 1,323.95; Tata Motors (DVR), up 5.74 per cent at Rs 143.80, Tata Motors, up 4.74 at Rs 269.55; ONGC up 3.34 per cent, at Rs 168.55; and Tata Steel, up 3.24 per cent at Rs 599.40 per share.
The majors losers were Infosys, down 3.22 per cent at Rs 1,385.20; Maruti Suzuki, down 0.79 per cent at Rs 9,075.90; ICICI Bank, down 0.50 per cent at Rs 338.35; Axis Bank, down 0.46 per cent at Rs 624.20; and Hindustan Unilever, down 0.30 at Rs 1,775.40 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Investor sentiments in the Indian equity market firmed up on Friday with the NSE Nifty50 ending at a record closing level, following broadly positive cues in the global markets.
The benchmark S&P BSE Sensex breached the 38,000-mark during the day before closing slightly below the psychological mark.
Index-wise, the Nifty50 on the National Stock Exchange closed at 11,470.75 points, up 85.70 points or 0.75 per cent from its previous close.
The S&P BSE Sensex, which had opened at 37,898.60 points, closed at 37,947.88 points, up 284.32 points or 0.75 per cent from previous close of 37,663.56 points.
It touched an intra-day high of 38,022.32 points and a low of 37,840.16.
In the broader markets, the S&P BSE Mid-cap rose by 0.88 per cent and the S&P BSE Small-cap ended higher by 0.94 per cent from the previous close. The BSE market breadth was bullish with 1,629 advances and 1,076 declines.
“The gains came on the back of positive Asian markets as investors seemed to cheer Washington and Beijing’s decision to hold trade talks next week,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
Investment-wise, provisional data with exchanges showed that foreign institutional investors bought scrip worth Rs 147.31 crore and the domestic institutional investors purchased stocks worth Rs 151.89 crore.
Sector-wise, the S&P BSE Banking index rose 398.95 points, FMCG index was up 219.19 points and the metal index ended higher 216.43 points from its previous close.
In contrast, the S&P BSE oil and gas index was the only losing index with a decline of 22.55 points.
In a major development, share price of FMCG major ITC on the BSE touched a 52-week high of Rs 315.20 on Friday. It settled at Rs 313.75 per share, higher Rs 6.95 or 2.27 per cent from the previous close.
The major gainers on the Sensex were Yes Bank, up 3.76 per cent at Rs 392.95; State Bank of India, up 3.18 per cent at Rs 302; Vedanta, up 3.09 per cent at Rs 215; Hindustan Uniliver, up 2.63 at Rs 1,780.80; and Tata Motors, up 2.47 per cent at Rs 257.35 per share.
The major losers were Hero Motocorp, down 1.14 per cent at Rs 3,248.60; ONGC, down 0.61 per cent at Rs 163.10; Maruti Suzuki, down 0.58 per cent at Rs 9,148.30; Coal India, down 0.44 per cent at Rs 281.20; and HDFC, down 0.39 per cent at Rs 1,883.60 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Slide in global crude oil prices along with expectations of fund infusion into public sector banks and value buying lifted the key domestic equity indices higher on Tuesday.
However, broadly negative Asian and European indices capped gains.
Analysts pointed out that healthy buying was witnessed in banking, oil and gas, automobile and consumer durables stocks.
Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 11,008.05 points — higher by 71.20 points or 0.65 per cent — from its previous close.
The barometer 30-scrip Sensitive Index (Sensex), which opened at 36,390.99 points, closed at 36,519.96 points — higher by 196.19 points or 0.54 per cent — from its previous session’s close of 36,323.77 points.
Sensex touched a high of 36,549.55 points and a low of 36,261.78 during the intra-day trade.
On Monday — the previous trade session — both the indices closed in the red due to a rise in wholesale inflation rate and broadly weak global cues.
“Markets bounced back sharply on Tuesday after the sharp correction seen in the previous session. The gains came on the back of an overnight steep fall in crude oil prices, which will benefit India from various angles,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
“Major Asian markets have closed mostly in the negative.”
European indices like FTSE 100, DAX and CAC 40 traded “mildly in the red”.
According to Geojit Financial Services’ Head of Research Vinod Nair: “Market regained 11,000 mark, given the strong earnings and benign yield despite rise in inflation.”
“Notably, mid and small cap participated in today’s up move, which were underperforming in recent times due to rich valuation. Additionally, drop in oil price and strengthening rupee may contain inflationary pressure. PSU banks outperformed due to prospects of government’s recapitalisation plan.”
On the currency front, the rupee strengthened by 12 paise to end at 68.45-46 per dollar, against the previous close of 68.58 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 673.99 crore and the domestic institutional investors bought stocks worth Rs 840.06 crore.
Sector-wise, the S&P BSE banking index was the top gainer with a rise of 422.53 points.
On the contrary, the S&P BSE FMCG index declined by 91.12 points.
The major gainers on the Sensex were SBI, up 2.98 per cent at Rs 259.25; Sun Pharma, up 2.97 per cent at Rs 548.80; Axis Bank, up 2.86 per cent at Rs 538.05; ICICI Bank, up 2.70 per cent at Rs 266.30; and Tata Steel, up 2.54 per cent at Rs 532.50 per share.
The top losers were Hindustan Unilever, down 4 per cent at Rs 1,683.75; Bharti Airtel, down 1.14 per cent at Rs 342.25; IndusInd Bank, down 0.94 per cent at Rs 1,905.15; ITC, down 0.63 per cent at Rs 269.80; and Infosys, down 0.42 per cent at Rs 1,327.40 per share.
—IANS
