Tag: Closing Bell

Market at close | Sensex, Nifty settle with a cut of 1% each as IT and metals drag

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian shares declined for a second day in a row on Wednesday, January 3, with benchmark Sensex dropping by 535 points owing to selling in HDFC Bank and IT shares amid weak global trends.

The Sensex slipped 536 points to 71,357 and the Nifty 148 points to 21,517. The Nifty Bank has fallen 57 points to 47,705, while the Midcap Index rose 139 points to 46.529. The metal stocks fell, tracking a fall in global prices, with Hindalco being the top loser.

Among the Sensex firms, JSW Steel, Tata Steel, Tech Mahindra, Infosys, Wipro, Tata Consultancy Services, Nestle, HCL Technologies, HDFC Bank and Maruti were the major laggards. IndusInd Bank, ITC, Bharti Airtel and State Bank of India were among the winners.

#MarketAtClose | 👉#Sensex & #Nifty close with a cut of 1% each as #IT & #Metals drag

👉#Midcap outperformance keeps market breadth in favour of advances

👉Sensex slips 536 points to 71,357 & Nifty 148 points to 21,517

👉#NiftyBank falls 57 pts to 47,705 while Midcap index… pic.twitter.com/xi7dzlkoMj

— CNBC-TV18 (@CNBCTV18Live) January 3, 2024

Bajaj Auto shares hit a record high and crossed ₹7,000 on reports of the auto major considering share buyback. The Adani Group stocks also ended with strong gains after the Supreme Court ruling, with most scrips rising between 1-10%. Biocon also moved 6% higher to hit a 52-week high on healthy volumes.

Union oil minister Hardeep Puri’s comment of no discussion concerning price cuts has lifted the oil marketing company’s (OMC) stocks.

India’s manufacturing sector growth fell to an 18-month low in December amid a softer increase in factory orders and output, despite minimal inflation, a monthly survey said on Wednesday.

The HSBC India Manufacturing PMI survey, conducted by S&P Global, showed that there were softer, albeit sharp, increase in factory orders and output, while business confidence towards the year-ahead outlook strengthened.

The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) fell from 56 in November to an 18-month low of 54.9 in December. Global oil benchmark Brent crude declined 0.55% to $75.47 a barrel.

With inputs from agencies

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty 50 close in red but off lows

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a day marked by market fluctuations, the Indian indices closed in the red but managed to recover from their intraday lows. The Nifty maintained its stronghold above the 21,600 mark, providing a semblance of stability in an otherwise volatile session.

The Sensex saw a decline of 379 points, settling at 71,892, while the Nifty 50 slipped by 82 points to close at 21,660. The Nifty Bank and Midcap Index also faced losses, dropping 521 points to 47,713 and 73 points to 46,400, respectively.

Amid market turbulence, pharma stocks emerged as the bright spot, with the Nifty Pharma index reaching a record high. Notably, four out of the top six Nifty gainers were pharmaceutical companies, including Sun Pharma, Divi’s Laboratories, Cipla, and Dr. Reddy’s Laboratories.

Reliance Industries continued to play a crucial role in supporting the market, countering the drag from the IT and financial sectors. On the positive front, Coal India extended gains on robust business updates, witnessing a 3% rise.

Adani Ports experienced a surge as the company raised its FY24 volume guidance to 400 million tonnes. Conversely, the automotive sector faced a downturn following disappointing monthly sales, with Eicher Motors, Mahindra & Mahindra, and Ashok Leyland emerging as top losers.

UltraTech Cement observed a decline of more than 2% as Q3 volumes fell below expectations. On the recommendations front, Motilal Oswal identified Lemon Tree as a top pick for 2024, resulting in a 10% surge in the stock.

Lupin saw a notable 6% surge as brokerages maintained a positive outlook on the pharmaceutical company’s future. However, Federal Bank reported a seven-quarter low in loan growth, leading to a 3% decline in its stock.

AB Fashion stood out among midcap gainers, trading above all key averages. City Gas companies experienced a surge in response to improving demand, with Gujarat Gas emerging as the top gainer in the segment.

Dr. Lal PathLabs and Metropolis Healthcare moved higher in anticipation of their quarterly updates. Meanwhile, M&M Financial Services witnessed a 3% rise as its asset quality improved, rebounding from earlier lows during the session.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty 50 fail to hold intra-day record high, midcap outperforms

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a turbulent day for the stock market, the indices struggled to sustain the intra-day record highs, witnessing a sharp fall in the last hour of trading.

The Sensex and Nifty 50, after reaching intra-day peaks of 72,562 and 21,834, respectively, closed on a flat note.

The Sensex saw a decline of 169 points, settling at 72,071, while the Nifty managed a modest gain of 11 points, concluding at 21,742. The Midcap Index, however, rises 291 points to 46,472. In contrast, Nifty Bank experienced a slip of 58 points, ending the session at 48,234.

The top stocks on the Nifty 50 were Nestle India, Adani Enterprises, Adani Ports, Tech Mahindra and Wipro while losers included Eicher Motors, Bharti Airtel, M&M, Bajaj Auto and HDFC Bank.

Among sectors, healthcare and PSU Bank rose 0.5% each, while bank index shed 0.5%.

Notable market movements included Nestle’s surge of 3%, driven by anticipation ahead of its record date on January 5 for a stock split. Adani Group stocks also witnessed an upswing, gaining up to 5% during the trading session.

Conversely, the automotive sector faced headwinds as stocks slipped following lower-than-expected December sales, with Mahindra & Mahindra emerging as the top loser. Eicher Motors experienced a decline, influenced by the announcement of a ₹131 crore GST demand notice.

Tata Motors and Ashok Leyland, on the other hand, closed higher in anticipation of December sales figures. Bharti Airtel saw profit booking and featured among the top Nifty losers.

Vodafone Idea extended its gains from Friday, rising over 25% in two consecutive sessions. Gujarat PSUs enjoyed buying interest, with GNFC, GSPL, GSFC, and GMDC witnessing an upward movement of 5-6% during Monday’s trading session.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty 50 continue record run, BSE companies market cap hits ₹363 lakh crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian stock market continued its bullish momentum, marking a second consecutive session of record highs. The Sensex, Nifty 50, and Nifty Bank all notched fresh peaks, with the Midcap Index inching closer, trailing by a margin of 200 points.

Key contributors to Nifty’s surge included ITC, Reliance, and M&M. The year 2023 has witnessed Nifty reaching record highs in 38 trading sessions so far, underlining the market’s robust performance.

The cumulative market capitalization of BSE-listed companies reached a historic high of ₹363 lakh crore, with December alone witnessing an addition of ₹28 lakh crore. The Sensex touched a pinnacle at 72,484, Nifty at 21,802, and Nifty Bank at 48,636.

In today’s trading session, the Sensex gained 372 points, closing at 72,410, while the Nifty rose by 124 points to settle at 21,779. Nifty Bank surged by 226 points to 48,509, and the Midcap Index recorded an ascent of 256 points, reaching 45,815.

Oil marketing companies experienced a notable boost as crude prices slipped overnight, with HPCL leading the charge with a 10% surge. PSU companies sustained their winning streak, positioning Nifty PSU as the top gaining index.

Ahead of monthly numbers, select auto names, including M&M and Hero, emerged as the top gainers. Hindustan Copper claimed the top spot among midcap gainers, soaring by 16% on the back of the highest-ever volumes.

A fall in the dollar and US yield prompted an upswing in metal stocks, with Nalco and SAIL securing top positions among gainers.

Market this series

This December series has witnessed the market achieve its most substantial gain in nearly three years, since February 2021. Nifty surged by over 8%, and the Midcap Index recorded a 7% uptick. Nifty Bank marked its most substantial gain in a series in 17 months, posting a remarkable 9% rise.

Among the Nifty stocks, 48 recorded positive returns, with Adani Ports, NTPC, and Adani Enterprises leading the pack of gainers. However, HDFC Life, Maruti, and SBI Life faced negative returns in the December series, adding a nuanced dimension to an otherwise bullish market performance.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty end at a record high, BSE listed companies market cap hits $4.3 trillion

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian stock market surged to record highs amid heightened volatility, with the India VIX (Volatility Index) reaching a nine-month high. The Sensex, Nifty, and Nifty Bank all posted new record highs, contributing to the market capitalization of BSE-listed companies reaching an impressive $4.3 trillion.

The BSE-listed companies collectively achieved a market capitalization milestone of ₹361 lakh crore ($4.3 trillion), setting a new record. Notably, these companies added ₹26 lakh crore to their market capitalization in the month of December alone, showcasing significant growth.

The Sensex recorded a gain of 702 points, closing at 72,038, while the Nifty gained 213 points to settle at 21,655. The Nifty Bank witnessed a substantial rise of 557 points, reaching 48,282, and the midcap index added 171 points to finish at 45,559.

While the midcap index closed in positive territory, it relatively underperformed compared to the broader market. The Sensex reached an intra-day record high of 72,120 points, and the Nifty touched 21,676 points during the trading session.

The Nifty Bank hit a lifetime high of 48,348 points. However, the midcap index remained around 400 points away from its all-time high.

Forty Nifty stocks closed in the green, with heavyweight companies like HDFC Bank and Infosys being the top contributors to Nifty’s positive performance. HDFC Bank alone accounted for nearly 50% of Nifty Bank’s gains.

In the banking sector, all Nifty Bank constituents recorded gains, with HDFC, ICICI, and SBI emerging as the top gainers. Meanwhile, cement stocks experienced a rise following positive brokerage notes, with UltraTech and Dalmia emerging as the top gainers.

However, not all sectors saw positive movements. Coromandel faced a setback as operations at its Ennore plant were suspended after a gas leak incident. On the other hand, PSU banks snapped a two-day losing streak, with PNB and BoB being the top gainers.

In the healthcare sector, diagnostic stocks witnessed profit booking, leading to a 1% decline in Metropolis and Dr Lal shares. In contrast, Alkem Labs rose more than 2% on the prospect of margin expansion.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty 50 end near day’s high led by Reliance, HDFC and Kotak Bank

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a strong finish to the trading day, the Indian stock market witnessed a surge led by key players, including Reliance, HDFC Bank, and Kotak Bank. The benchmark Sensex rose by 230 points to reach 71,337, while the Nifty 50 gained 92 points to settle at 21,441.

The Nifty Bank also showed significant gains, climbing 233 points to 47,725, and the Midcap Index surged by 293 points to close at 45,388. Hero Moto and TVS Motor experienced upward movement following the news of Ola Electric filing for an IPO.

Top Nifty gainers were Divis Laboratories, Hero MotoCorp, Adani Enterprises, Hindalco and NTPC, while losers were Bajaj Finance, Bajaj Finserv, Infosys, TCS and Tata Motors.

Except Information Technology, all other sectoral indices are trading in the green with oil & gas, power, metal, auto, healthcare gained 1% each.

Divi’s Lab was among the top performers, recording nearly 5% surge and closing the session near its 52-week high level. Public sector undertakings (PSUs) continued their winning streak, with ONGC and NTPC securing positions among the top five Nifty gainers.

On the flip side, Bajaj Fin and RBL faced declines amid reports suggesting that the Reserve Bank of India (RBI) granted only a one-year extension to their credit card agreement.

Infosys witnessed a dip of over 1% after the termination of a $1.5 billion Memorandum of Understanding (MoU) with a global company. Meanwhile, Adani Green saw a 3% recovery from its lows following a total fund raising of $3 billion.

TV18 and Network18 experienced a surge of 5-8% on reports of a significant deal with Walt Disney India.

In the IPO segment, Motisons Jewellers made a robust debut, listing at a premium of over 85%. However, Muthoot Micro and Suraj Estate faced a weak listing, with stocks falling up to 9%.

The positive brokerage note and continued order wins contributed to the 4% surge in BEL’s stock. The chemical basket witnessed buying activity, with Aarti Ind, Tata Chem, and Deepak Nitrite emerging as the top gainers.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty 50 closes largely higher ahead of Christmas weekend

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In the final trading session before the Christmas weekend, the Indian stock market exhibited mixed trends, with the Nifty surpassing the 21,300 mark and the Sensex rising above 71,100.

Despite market volatility, midcap stocks performed exceptionally well, contributing to a positive market breadth.

The financial sector, however, faced challenges as Nifty Bank experienced a nearly 1% decline. Meanwhile, PSU stocks continued their bullish run, with GAIL, NALCO, and SAIL emerging as top gainers.

The top Nifty gainers included Wipro, HCL Technologies, Tata Motors, Hero MotoCorp and Hindalco Industries, while losers were Grasim Industries, SBI Life Insurance, Bajaj Finance, HDFC Bank and ICICI Bank.

Except banks, all other sectoral indices ended in the green with auto, capital goods, healthcare, oil & gas up 1% each, while Information Technology, metal and realty up 2% each.

IT stocks witnessed strong buying, with Wipro, HCL, and Tech Mahindra leading the gainers on the Nifty index. Tata Motors also saw a positive upswing, closing with a 2% gain.

On the flip side, banking heavyweights such as SBI, ICICI, HDFC Bank, and Axis Bank emerged as the top losers on the Nifty. Polycab faced a 5% dip in its stock value following reports of tax department searches at the company’s premises.

Despite the release of new movies, the sentiment in the entertainment sector remained subdued, leading to further cuts for PVR.

Piramal Enterprises snapped its losing streak, rising over 3% as the stock came out of the F&O ban. The overall market witnessed an advance-decline ratio of 2:1.

Market this week

Looking at the broader picture for the week, the market concluded with a 0.5% decline for both the Sensex and Nifty, breaking a seven-week gaining streak.

The Nifty Bank and Nifty Midcap indices recorded declines of more than 1% each. In a volatile week, FMCG, Pharma, and Energy sectors emerged as the top gaining indices, while PSU banks faced the most significant setbacks, with Union Bank and Canara Bank topping the list of losers.

Among Nifty stocks, 31 recorded losses, with Adani Enterprises, M&M, and HDFC Life leading the decliners. On the positive side, Britannia, Nestle, Tata Consultancy Services, Coal India, and Wipro were the top gainers.

In the midcap segment, Hind Copper, IRCTC, Voltas, Laurus Labs, and HDFC AMC saw notable gains, while City Union Bank, Bandhan Bank, Dalmia Bharat, and M&M Financial Services were among the top midcap losers.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty 50 regain half of Wednesday’s losses led by HDFC Bank and Reliance

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market showcased a smart intra-day recovery, reclaiming half of Wednesday’s losses as banks led the resurgence, with HDFC Bank and SBI emerging as top contributors to the Nifty. Reliance also played a pivotal role in the rebound, attaining a four-month high.

Despite the overall recovery, three of the top five Nifty losers were Bajaj Finance, Bajaj Finserv, and Bajaj Auto. The Sensex marked a rise of 359 points, reaching 70,865, while the Nifty surged by 131 points to 21,281. In tandem, the Nifty Bank gained a substantial 404 points, reaching 47,824, and the Midcap Index saw an impressive 799-point surge, reaching 44,824.

Top gainers on the Nifty were BPCL, Power Grid Corporation, Britannia Industries, HDFC Bank and NTPC, while losers were Bajaj Auto, Bajaj Finance, Axis Bank, HCL Technologies and Cipla.

Among sectors, Information Technology, bank, FMCG up 0.5 percent each, while metal, pharma, realty, power and oil & gas, capital goods up 1-2% each.

Reports of a surge in copper prices contributed to a notable 11% upswing in Hind Copper’s stock. IRCTC recouped losses from Wednesday, marking a 7% increase after the stock emerged from the F&O ban.

Diagnostic names experienced buying momentum due to a rise in COVID cases, with Dr Lal and Metropolis gaining 5-7%. BEL saw a 2% uptick as the company revised its order book guidance for FY24.

Zee Entertainment gained ground on the hope of a deadline extension for the Sony deal, closing 3% higher. City Union Bank, however, saw a nearly 5% decline on expectations of below-than-expected Q3 results.

PVR faced a setback, falling nearly 3% from the day’s high following a review of new movie releases. Piramal Enterprises made provisions of over ₹3,100 crore due to an AIF rule, resulting in the stock being 4% off its lows.

In other developments, a former promoter sold a 12% stake in Ami Organics, causing the stock to be 7% off its lows.  Inox Industries made a strong debut on exchanges, listing at a premium of 44%.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Profit booking from elevated levels leaves investors poorer by ₹9 lakh crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian stock market ended in red with Nifty below 21,200 and Sensex down 930 points. This left investors poorer by ₹9 lakh crore.  The Sensex plummeted by 931 points to reach 70,506, while the Nifty witnessed a decline of 303 points, settling at 21,150.

Among the top losers in the Nifty 50 were Adani Ports, Adani Enterprises, UPL, Tata Steel, and Coal India. Conversely, the gainers comprised ONGC, Tata Consumer Products, Britannia Industries, and HDFC Bank.

All sectoral indices closed in negative territory, with auto, capital goods, metal, oil & gas, power, and realty witnessing declines in the range of 2-4%.

The midcap segment experienced its most substantial single-day fall since December 23, 2022.

The Nifty Bank was not immune to the market turmoil, witnessing a substantial drop of 426 points to 47,445, while the Midcap Index slipped significantly by 1,488 points, closing at 44,025.

Among individual stock movements, Indiabulls Housing Finance saw a notable 10% decrease, and Piramal Enterprises slipped by 8% following the Reserve Bank of India’s tightening of Alternative Investment Fund (AIF) lending norms.

The IT sector struggled to maintain gains after in-line results from Accenture, with HCL Tech experiencing a dip of more than 3%.

Contributing significantly to Nifty’s losses were heavyweight stocks like Reliance, L&T, and Infosys.

In a broad market decline, all sectoral indices ended in the red, with the Nifty PSU Bank experiencing a 4% drop, and the Nifty Media sector witnessing a 5% decline.

Amidst the overall negative sentiment, Varun Beverages managed to buck the trend, ending nearly 7% higher due to positive developments related to the acquisition of SA Beverage Co.

However, Vodafone Idea faced challenges, with its stock declining by more than 6% as subscriber losses escalated in September.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex and Nifty 50 slip from intra-day record highs to close with minor gains

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Sensex and Nifty experienced a slight retreat from their intra-day record highs but managed to close with modest gains. The Nifty reached an intra-day record high of 21,505, while the Sensex hit 71,624 during the session.

However, the broader market witnessed underperformance, with the Midcap Index closing in the red. The Sensex rose by 122 points to 71,437, and the Nifty gained 34 points to settle at 21,453. The Nifty Bank recorded a modest gain of 3 points, closing at 47,871, while the Midcap Index slipped 173 points to 45,512.

Top  gainers on the Nifty were Coal India, Nestle India, Tata Consumer Products, NTPC and Cipla, while losers included SBI Life Insurance, Hero MotoCorp, Adani Ports, Wipro and Adani Enterprises.

Mixed trend was seen on the sectoral front, with metal, pharma, oil & gas, power and FMCG rose 0.3-1 percent, while auto, capital goods, realty, Information Technology down 0.3-0.8 percent.

IndusInd Bank and SBI played a pivotal role in supporting Nifty Bank to end the session with minor gains. The consumer basket saw notable buying activity, with several names closing with healthy gains. Nestle, Tata Cons, Voltas, and Colgate emerged as top gainers from the consumer space.

Power-related stocks continued their upward trajectory, with Coal India and NTPC reaching multi-year highs. IRCTC closed with minor gains after reaching its highest levels in two years. Hind Copper emerged as the top midcap gainer, rising by 6% to hit an 11-year high.

Delta Corp saw a notable uptick, rising up to 6% after the company came out of the F&O ban. However, Zee slipped by 3% as Sony indicated it’s yet to decide on the merger date extension.

GMR Airports witnessed profit booking after sustained buying following a significant share buy by GQG. In the IT sector, most stocks ended lower ahead of Accenture earnings, leading to a 1% fall in Nifty IT.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow