by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Attractive valuations, along with healthy quarterly results supported the key Indian equity indices closed Tuesday’s volatile trade session on a positive note after five consecutive days of decline.
After opening on a negative note, the indices rose to intra-day high levels in the early hours of trade, before ceding most of their gains due to weakness in global markets and rise in crude oil prices.
Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,536.70 points — up by 20 points or 0.19 per cent — from its previous close of 10,516.70.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 34,601.49 points, closed higher by 35.11 points or 0.1 per cent, at 34,651.24 points.
The Sensex touched a high of 34,754.60 points and a low of 34,550.22 points during the intra-day trade.
“After a choppy morning trade, indices firmed up in the afternoon and managed to settle with small gains,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Jasani further told IANS: “Broad market indices like the BSE mid-cap and small-cap indices gained more, thereby outperforming the main indices.”
Both the S&P BSE mid-cap and small-cap ended 0.65 per cent from their respective previous closing levels.
Consequently, the BSE market breadth was tilted towards the bulls with 1,405 advances against 1,219 declines. On the NSE, too, the market breadth was positive.
On the currency front, the Indian rupee strengthened by eight paise against the US dollar to 68.05, from its previous close at 68.13 per greenback.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 1,651.63 crore, while the domestic institutional investors bought stocks worth Rs 1,496.83 crore.
Sector-wise, the S&P BSE auto index rose the most, by 413.76 points, followed by the metal index which increased by 211.32 points and the healthcare index that ended 143.12 higher from its previous close.
On the other hand, the S&P BSE oil and gas index fell by 59.23 points, followed by the energy index, which ended 11.10 points lower and the FMCG index that fell by 10.97 points.
On the NSE, according to BNP Paribas Mutual Fund’s Senior Fund Manager for Equities, Abhijeet Dey, barring the FMCG index, which closed in the red, all other sectoral indices closed the trading day in the positive zone.
Dey further said, auto stocks gained the most among the sectors due to expectation that China may cut import duty on passenger cars.
The major gainers on the Sensex were Dr Reddy’s Lab, up 6.30 per cent at Rs 2,013.75; Bajaj Auto, up 3.86 per cent at Rs 2,825; Tata Motors, up 3.78 per cent at Rs 307.75; State Bank of India, up 3.69 per cent at Rs 254.15; and Coal India, up 3.23 per cent at Rs 278.45 per share.
The top losers were Tata Consultancy Services, down 1.40 per cent at Rs 3,508.05; Asian Paints, down 1.27 per cent at Rs 1,283.5; Axis Bank, down 1.27 per cent at Rs 522; IndusInd Bank, down 1.19 per cent at Rs 1,898.50; and ITC, down 1.17 per cent at Rs 278.8 per share.
—IANS
by admin | May 25, 2021 | Banking, Economy, Markets, News
Mumbai : Broadly firm Asian markets along with healthy buying in banking, metal and capital goods stocks lifted the key Indian equity indices on Friday.
According to market analysts, caution ahead of the assembly election in Karnataka on May 12 arrested further gains.
At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,806.50 points, up 89.95 points or 0.84 per cent from the previous close.
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE ended in the green. It had opened at 35,287.99 points and closed at 35,535.79 points (3.30 p.m.) – up 289.52 points or 0.82 per cent — from its previous session’s close.
The Sensex touched a high of 35,596.15 and a low of 35,262.06 points.
However, the BSE market breadth was bearish with 1,544 declines and 1,120 advances.
The major gainers on the BSE were Asian Paints, Tata Steel, HDFC, Larsen and Toubro and ICICI Bank, while Bharti Airtel, Sun Pharma, Tata Motors (DVR), Hero MotoCorp and Tata Motors were the major losers.
On the NSE, the top gainers were Asian Paints, Hindustan Petroleum and Indiabulls Housing Finance. The major losers were Bharti Airtel, Sun Pharma and Titan.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : Weakness in the global equity markets and profit booking by investors led the key Indian equity indices to close on a flat note with negative bias on Wednesday.
The trade was volatile throughout the day and, according to market observers, selling was witnessed around the closing hour of trade.
Heavy selling pressure in metal, consumer durables and auto stocks weighed on the indices.
The broader Nifty50 of the National Stock Exchange (NSE) closed at 10,718.05 points — down 21.30 points or 0.2 per cent from the previous close.
The barometer 30-scrip Sensitive Index (Sensex) on the BSE, which opened at 35,328.91 points, closed at 35,176.42 points — up 16.06 points or 0.05 per cent from its previous session’s close
The Sensex touched a high of 35,357.15 points and a low of 35,072.42 during the intra-day trade.
The BSE market breadth was bearish with 1,810 declines and 900 advances.
Abhijeet Dey, Senior Fund Manager, Equities, BNP Paribas Mutual Fund, said: “It has certainly been a volatile start to May as benchmark indices in India struggled to maintain gains, despite positive macro-economic updates.”
Markets traded positive in the first half of the day but were unsuccessful in holding on to gains as volatility came to the fore and pushed markets to finally close the day near the flat line, he added.
Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS: “Nifty ended lower today as selling emerged from the day’s high of 10,784 levels.”
Said V.K. Sharma, Head, Private Client Group and Capital Market Strategy, HDFC Securities: “Markets corrected in the last 90 minutes of trade on Wednesday as the selloff in commodities accelerated towards the close.”
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 525.93 crore, while the domestic institutional investors purchased stocks worth Rs 165.84 crore.
Sector-wise, the S&P BSE energy and the finance indices were the only gainers during the day, both rising marginally. The S&P BSE energy index inched up 7.56 points and the finance index closed a tad up by 0.54 points.
On the other hand, the S&P BSE metal index plunged 485.59 points, the consumer durables stocks by 296.77 points and the auto index by 280.56 points.
The major gainers on the Sensex were Kotak Mahindra Bank, up 3.87 per cent at Rs 1257.25; ITC, up 2.03 per cent at Rs 287.15; Asian Paints, up 1.80 per cent at Rs 1,221.75; HDFC, up 1.37 per cent at Rs 1,910.50; and HDFC Bank, up 1.32 per cent at Rs 1,970.35 per share.
The top losers were Tata Steel, down 3.30 per cent at Rs 575.05; ICICI Bank, down 2.58 per cent at Rs 277.10; Hindustan Unilever, down 2.49 per cent at Rs 1,471.50; Sun Pharma, down 2.39 per cent at Rs 515.55; and State Bank of India, down 2.29 per cent at Rs 240.65 per share.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
Mumbai : The barometer 30-scrip Sensex on Monday ended over 35,000 points, nearly a three-month high level, riding on the back of firm global cues along with robust buying in the capital goods, IT and fast-moving consumer goods (FMCG) stocks.
However, selling pressure on oil and gas and energy stocks restricted further gains.
The broader Nifty50 of the National Stock Exchange (NSE) closed at 10,739.35 points — up 47.05 points or 0.44 per cent — from the previous close.
The Sensex, which opened at 35,021.20 points, closed at 35,160.36 points — up 190.66 points or 0.55 per cent — from its previous session’s close.
It touched a high of 35,213.30 points and a low of 35,004 points during the intra-day trade.
The BSE market breadth was bullish with 1,379 advances and 1,279 declines.
In the broader markets, the S&P BSE mid-cap index close 0.56 per cent and the small-cap index rose by 0.89 per cent.
“Indian markets continued to dominate the uptrend and traded near three-months high,” said Dhruv Desai, Director and Chief Operating Officer, Tradebulls.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 385.47 crore, while the domestic institutional investors purchased stocks worth Rs 261.98 crore.
Sector-wise, the S&P BSE capital goods index surged by 284.68 points, followed by the IT index which rose 192.94 points, and the fast moving capital goods (FMCG) index by 150.60 points.
On the other hand, the S&P BSE oil and gas index fell by 157.06 points, the energy stocks by 82.69 points and the consumer durables index by 28.66 points.
The major gainers on the Sensex were Yes Bank, up 3.90 per cent at Rs 362.05; Hindustan Unilever, up 2.34 per cent at Rs 1,509.05; Tata Consultancy Services, up 2.22 per cent at Rs 3,531.40; Kotak Mahindra Bank, up 1.83 per cent at Rs 1,210.35; and Larsen and Toubro, up 1.73 per cent at Rs 1,400.60 per share.
The top losers were Axis Bank, down 3.87 per cent at Rs 518.05; Reliance Industries, down 3.18 per cent at Rs 963.10; ICICI Bank, down 1.25 per cent at Rs 284.45; Coal India, down 0.60 per cent at Rs 283.85; and ONGC, down 0.14 per cent at Rs 180.50 per share.
On Tuesday, trade on the NSE and BSE would remain closed on account of Maharashtra Day.
—IANS
by admin | May 25, 2021 | Economy, Markets, News
By Rituraj Baruah,
Mumbai : Healthy earnings in the fourth quarter of 2017-18 lifted the benchmark equity indices during the week ended Friday.
Indices logged gains in four of the five trading sessions as both — the S&P BSE Sensex and the NSE Nifty50 — settled at their highest closing levels in over three months.
On a weekly basis, the barometer 30-scrip Sensitive Index (Sensex) of the BSE rose by 554.12 points or 1.61 per cent to close at 34,969.70 points.
The wider Nifty50 of the National Stock Exchange (NSE) closed trade at 10,692.30 points — up 128.25 points or 1.21 per cent from its previous week’s close.
“Markets surged higher extending winning streak to fifth consecutive week on positive sentiment…,” said Prateek Jain, Director, Hem Securities.
“Good roll-over of long-position in the May Series of derivative contract, continuous buying by domestic institutional investors also boosted sentiment,” Jain told IANS.
Rahul Sharma, Senior Research Analyst at Equity99 said: “Better than expected quarterly earnings led the rally in the April series. Traders preferred to ignore major on-going concerns like rising crude oil prices, rising bond yields and weaker rupee.”
According to D.K. Aggarwal, Chairman and MD of SMC Investments and Advisors, the stock markets remained volatile amid corporate earnings and ahead of its expiry of April futures and options contracts.
“As expected, the European Central Bank left interest rates and its bond-buying program unchanged after a meeting Thursday. Keeping inflation target at close to two percent, Bank of Japan (BoJ) left monetary policy unchanged,” Aggarwal told IANS.
On the currency front, the rupee weakened by 54 paise to close at 66.67 against the dollar from its previous week’s close at 66.13.
Aggarwal further said: “Domestic currency continued to get hammered, and is headed for its third straight week of losses as outflows increase from stock market and bonds amid rising US yields.”
On the investment front, provisional figures from the stock exchanges showed that foreign institutional investors sold scrips worth Rs 3,060.41 crore, while the domestic institutional investors purchased stocks worth Rs 2,649.61 crore during the week.
Figures from the National Securities Depository (NSDL) revealed that foreign portfolio investors (FPIs) divested equities worth Rs 1,028.83 crore, or $155.20 million, during April 23-27.
Sector-wise, on the benchmark indices, the top sectoral gainers for the week were banking, realty and pharmaceuticals, while the top losers for the week were infrastructure and oil and gas sectors, Deepak Jasani, Head, Retail Research, HDFC Securities told IANS.
Scrip-wise, Tata Consultancy Services (TCS) achieved a major landmark during the week as it become the first Indian listed techonology company to cross the $100-billion mark in terms of market capitalisation on Monday due to its robust quarterly earnings.
“It (TCS) also entered the list of top 100 global companies by market capitalisation,” Rahul Sharma said, adding that, “Reliance Industries was also seen heading towards the $100 billion market cap mark, as the stock rose over seven percent in the last five days.”
The top weekly Sensex gainers were: Yes Bank (up 12.97 per cent at Rs 348.45); Mahindra and Mahindra (up 7.61 per cent at Rs 861.45); Reliance Industries (up 7.19 per cent at Rs 994.75); Axis Bank (up 6.53 per cent at Rs 538.90); and Adani Ports (up 5.30 per cent at Rs 401.45).
The losers were: Wipro (down 7.71 per cent at Rs 275.35); Maruti Suzuki (down 2.87 per cent at Rs 8777.95); Tata Steel (down 2.75 per cent at Rs 589.65); Coal India (down 2.23 per cent at Rs 285.55); and NTPC (down 1.95 per cent at Rs 170.85).
(Rituraj Baruah can be contacted at rituraj.b@ians.in)
—IANS
