by admin | May 25, 2021 | Banking, Economy, Markets, News
Mumbai : Broadly positive global cues lifted the key Indian equity indices on Wednesday, with the barometer Sensex of the BSE closing with gains of more than 200 points.
According to analysts, banking, metal and auto stocks witnessed healthy buying activity.
At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,772.05 points, up 61.60 points or 0.58 per cent from the previous close of 10,710.45 points.
Similarly, the Bombay Stock Exchange (BSE) Sensex, which had opened at 35,329.61 points, closed at 35,547.33 points (3.30 p.m.) — up 260.59 points or 0.74 per cent — from its previous session’s close of 35,286.74 points.
The Sensex touched a high of 35,571.37 points and a low of 35,329.51 points.
The top gainers on the Sensex were Reliance Industries, IndusInd Bank, Vedanta, Tata Steel and Yes Bank whereas ONGC, Coal India, ITC, Wipro and Larsen and Toubro (L&T) were the major losers.
On the NSE, Reliance Industries, IndusInd Bank and Tata Steel were the highest gainers while UPL, Hindustan Petroleum and Indian Oil Corp lost the most.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Broadly negative global markets ahead of the US Federal Reserve’s rate setting meet and profit booking led the key domestic equity indices to close on a flat-to-positive note on Wednesday.
According to market analysts, domestic indices rose during the day’s trade on the back of higher April industrial production. However a late hour burst of profit booking eroded most of their gains.
Besides, the day’s trade saw healthy buying in IT, consumer durables and banking counters, whereas heavy selling prevailed in capital goods, metal and FMCG stocks.
The broader Nifty50 of the National Stock Exchange (NSE) closed at 10,856.70 points — inching-up by 13.85 points or 0.13 per cent — from its previous close of 10,842.85 points.
The barometer 30-scrip Sensitive Index (Sensex), which had opened at 35,835.44 points, closed at 35,739.16 points — higher by just 46.64 points or 0.13 per cent — from its previous session’s close of 35,692.52 points.
Sensex touched a high of 35,877.41 points and a low of 35,715.96 points during the intra-day trade. The BSE market breadth was tilted towards the bears with 1,414 declines against 1,272 advances.
“Markets ended with marginal gains on Wednesday after a sell-off seen in the last hour of trade wiped out most of the intraday gains,” said Deepak Jasani, Head, Retail Research, HDFC Securities.
The markets had initially rallied in the first half of the trade session on the back of healthy industrial production data for April and positive European cues, he said.
On the currency front, the Indian rupee weakened by 16 paise against the US dollar to 67.65, from its previous close at 67.49 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 70.77 crore while the domestic institutional investors bought stocks worth Rs 486.78 crore.
Sector-wise, the S&P BSE IT index gained 176.36 points, the consumer durables index rose by 117.26 points and the banking index ended 81.08 points higher.
On the other hand, S&P BSE capital goods index was fell by 124.19 points, the metal index was down 52.41 points and the FMCG index ended lower by 48.02 points.
The major gainers on the Sensex were Dr Reddy’s Lab, up 2.82 per cent at Rs 2,252; Tata Consultancy Services, up 2.43 per cent at Rs 1,824.20; State Bank of India, up 1.70 per cent at Rs 287.65; Power Grid, up 1.43 per cent at Rs 198.50; and Infosys, up 1.41 per cent at Rs 1,276.10 per share.
The top losers were Tata Steel, down 2.12 per cent at Rs 567.50; Adani Ports, down 1.48 per cent at Rs 382.15; Hindustan Unilever, down 1.31 per cent at Rs 1,619, Bharti Airtel, down 1.30 per cent at Rs 376.10 and ONGC, down 0.79 per cent at Rs 170 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Profit booking and weak global markets subdued the key Indian equity indices to provisionally close Monday’s volatile trade session on a flat-to-positive note.
According to market observers, the key indices ceded most of their gains during the last hour of Monday’s trade session.
In the late-afternoon trade session, both the NSE Nifty50 and the S&P BSE Sensex made significant gains, with the barometer Sensex rising over 200 points, supported by healthy buying in the consumer durables, banking and capital goods stocks.
At 3.30 p.m., the wider NSE Nifty50 provisionally ended the day’s trade at 10,786.95 points, up 19.30 points or 0.18 per cent from its previous close of 10,767.65 points.
The benchmark S&P BSE Sensex, which had opened at 35,472.59 points, closed at 35,483.47 points (3.30 p.m.) — up 39.80 points or 0.11 per cent — from the previous closing level of 35,443.67 points.
The volatility in the market could be gauged by the fact that the Sensex touched an intra-day high of 35,704.84 points against the intra-day low of 35,444.49 points.
The BSE market breadth was slightly tilted towards the bulls with 1,516 advances against 1,158 declines.
The top gainers on the Sensex were Bharti Airtel, Sun Pharma, IndusInd Bank, Maruti Suzuki and Dr Reddy’s Lab whereas Tata Steel, Power Grid, Coal India, Yes Bank and Tata Motors (DVR) were the major losers.
On the NSE, Bharti Airtel, Grasim Industries and UltraTech Cement were the highest gainers while Tata Steel, UPL and HCL Technologies lost the most.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Profit booking, along with broadly negative global markets and a weak rupee, subdued the key domestic equity indices during a volatile trade session on Friday.
Market observers pointed out that heavy selling pressure in banking, capital goods and FMCG stocks also depressed the key indices.
However, some of the losses were pared on the back of healthy buying in pharma and IT stocks.
Index-wise, the 30-scrip Sensitive Index (Sensex) closed lower by 19.41 points or 0.05 per cent.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) also settled on a flat-to-negative note. It slipped by 0.70 points or 0.01 per cent to close at 10,767.65 points.
The S&P BSE Sensex, which opened at 35,406.47 points, closed at 35,443.67 points, 19.41 points or 0.05 per cent lower from the previous day’s close at 35,463.08 points.
The Sensex touched a high of 35,484.94 points and a low of 35,260 points during the intra-day trade.
“Markets ended flat on Friday after a smart recovery in the late afternoon session. Today’s flat close came after two sessions of healthy gains,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
“Weak global cues capped the gains. Banks fell while IT and Pharma shares gained. Major Asian markets have closed on a negative note. European indices like FTSE 100, CAC 40 and DAX are trading in the red.”
Geojit Financial Services’ Head of Research Vinod Nair said: “Market reversed from low despite weak global sentiment as positive cues on pharma stocks and prospects of government measures on PSU banks supported the market to end flat.”
“Weakening rupee and favourable US FDA outcome on domestic pharma helped to regain positive sentiment in the sector. Volatility in oil price and mixed earnings in the fourth quarter may led the market to stay on the consolidation path.”
On the currency front, the Indian rupee weakened against the US dollar to 67.51, from its previous close at 67.13 per greenback.
Provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 222.50 crore, while the domestic institutional investors bought stocks worth Rs 459.44 crore.
Sector-wise, the S&P BSE Healthcare index gained 468.38 points, the IT index was higher by 103.09 points and the oil and gas index ended 87.72 points higher.
In contrast, S&P BSE banking index was lower by 71.39 points, capital goods down 44 points and FMCG index slipped by 40.07 points.
The major gainers on the Sensex were Sun Pharma, up 8.13 per cent at Rs 528.20; DrReddy’s Labs, up 4.92 per cent at Rs 2,062.90; Tata Motors DVR, up 3.56 per cent at Rs 186.20; Tata Motors, up 1.56 per cent at Rs 310.05; and State Bank of India, up 1.28 per cent at Rs 272.70 per share.
The top losers were PowerGrid, down 2.12 per cent at Rs 198.50; HDFC, down 1.42 per cent at Rs 1,840.20; Axis Bank, down 1.05 per cent at Rs 536.45; ITC, down 0.98 per cent at Rs 267.85; and Mahindra and Mahindra, down 0.91 per cent at Rs 910.90 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Caution ahead of the RBI’s monetary policy review, along with negative macro-economic data point, depressed the key Indian equity indices on Tuesday.
According to market observers, heavy selling pressure was witnessed in the capital goods, consumer durables and IT stocks.
Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,593.15 points — down by 35.35 points, or 0.33 per cent — from its previous close.
Similarly, the barometer 30-scrip Sensitive Index (Sensex) settled in the red. It opened at 35,029.45 points, closed at 34,903.21 points — lower by 108.68 points, or 0.31 per cent — from its previous session’s close of 35,011.89 points.
Sensex touched a high of 35,073.12 points and a low of 34,784.68 points during the intra-day trade.
“Markets corrected further on Tuesday after a volatile trade session. It was the third consecutive session of losses for the Nifty,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
“Broad market indices like the BSE Mid Cap and Small Cap indices fell more, thereby underperforming the main indices.”
Geojit Financial Services Head of Research Vinod Nair said: “Consolidation continued as investors turned cautious ahead of RBI monetary policy and rupee is marginally weak due to liquidity constraint.”
“Investors are expecting a status quo on policy rates, but RBI’s commentary would be keenly watched. The elevated levels of crude will influence RBI’s stance on inflation. Earnings cycle is yet to pick up while the divergence in expectation and actual results could trigger downgrades in FY19 estimates.”
The RBI’s MPC began its three-day meet from June 4 to 6 here on Monday. It is expected to announce the second monetary policy review for 2018-19 on Wednesday.
Further, analysts said that investor sentiments were subdued after seasonally adjusted Nikkei India Services Business Activity Index showed a contraction in last month’s output.
On the currency front, the Indian rupee weakened against the US dollar to 67.15, from its previous close at 67.12 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 157.51 crore, while the domestic institutional investors bought stocks worth Rs 474.33 crore.
Sector-wise, the S&P BSE capital goods index fell by 362.23 points, the consumer durables index was down by 278.27 points and the IT index ended 203.06 points lower.
On the other hand, S&P BSE oil and gas index gained 14.85 points followed by the energy index which inched up by 9.94 points.
The major gainers on the Sensex were Reliance Industries, up 0.90 per cent at Rs 947.85; Tata Steel, up 0.88 per cent at Rs 571.95; HDFC, up 0.78 per cent at Rs 1,847.05; Maruti Suzuki, up 0.69 per cent at Rs 8,810.35; and HDFC Bank, up 0.68 per cent at Rs 2,060.55 per share.
The top losers were Coal India, down 2.36 per cent at Rs 285.40; Bharti Airtel, down 2.16 per cent at Rs 363.80; Larsen and Toubro, down 1.93 per cent at Rs 1,344; Dr Reddy’s Labs, down 1.87 per cent at Rs 1,959.60; and Yes Bank, down 1.84 per cent at Rs 336.70 per share.
—IANS
