Tag: Closing Bell

Market at close | Best weekly gain in five months leaves investors richer by nearly ₹10 lakh crore

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

Listen to the Article (6 Minutes)

Benchmark indices closed higher for the fourth straight day, with Nifty 50 closing at 20,250. Additionally the index posted best weekly gain in five months leaving investors richer by nearly ₹10 lakh crore. 

The Nifty’s top gainers were Hero MotoCorp, HDFC Life, Wipro, M&M, and Bajaj Auto, while the top losers were NTPC, ITC, L&T, Britannia Industries, and Axis Bank.

All sectoral indices ended the day higher than the Auto index, with Realty, FMCG, Metal, Capital Goods, and Power all seeing one percent increases.

(Will be updated)

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 flat, IT stocks drag, pharma and metal gain

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

Listen to the Article (6 Minutes)

The indices ended on a flat note, with tech stocks continuing to exert downward pressure, leaving the Nifty below the 19,800 mark. The Sensex recorded a fall of 48 points, closing at 65,970, while the Nifty slipped by 7 points, settling at 19,795.

Despite the overall market stagnation, the broader market showcased resilience, outperforming the major indices. Notably, HDFC Bank and ICICI Bank emerged as top contributors to Nifty Bank’s gains, with the banking sector gaining 192 points to reach 43,769. The Midcap Index also saw a positive trend, rising by 23 points to 42,050.

Cipla secured its position as the top gainer on the Nifty, witnessing a growth of more than 2%, fueled by positive brokerage reports. Within the Adani Group, most stocks closed in the green, and the Adani-Hindenburg case hearing was underway.

The PSU insurance stocks experienced a significant rally, with New India Insurance surging by 20% and LIC registering a nearly 10% increase. On the flip side, Paytm faced a decline of more than 3% after a substantial block deal, involving the transfer of 1.6 crore shares (equivalent to 2.56% equity).

Gland Pharma, on the other hand, observed a positive trend, gaining almost 3% following the clearance of its Pashamylaram facility by the US FDA. The pharmaceutical sector, represented by Nifty Pharma, resumed its uptrend, closing in the green for seven out of the last eight sessions.

Market this week

Reviewing the market performance for the week, both Sensex and Nifty posted a marginal rise of 0.3%. The Midcap Index extended its upward trajectory for the fourth consecutive week, marking a 0.6% gain, while Nifty Bank recorded a 0.5% increase.

In terms of sectors, realty, metal, and pharma emerged as the top gainers, while PSU banks and IT faced the most significant declines.

Among the individual stocks, Hero MotoCorp, Bajaj Auto, BPCL, Divi’s Lab, and Bharti Airtel secured positions as the top Nifty gainers. Conversely, Cipla, ONGC, Coal India, Bajaj Fin, and Ultratech Cement found themselves among the top Nifty losers.

In the midcap segment, SPARC, AB Fashion, Castrol, Bharat Forge, and JSW Energy experienced notable gains, contributing to the positive momentum in the broader market.

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 recovers in last hour of trade, financials underperform

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

Listen to the Article (6 Minutes)

In a last-hour surge, the market rebounded, closing in the green, with Nifty finishing above the 19,800 mark. The financial sector underperformed, witnessing almost all Nifty Bank stocks ending in the red.

The BSE Sensex gained 93 points to reach 66,023, while Nifty 50 added 28 points to settle at 19,812. However, Nifty Bank declined 240 points, closing at 43,450, while the Midcap Index rose by 144 points to 42,027, hitting a record high intra-day. Jubilant and Aurobindo emerged as the top midcap gainers.

Top gainers on the Nifty 50 were BPCL, Cipla, NTPC, Infosys and Power Grid Corporation, while losers were IndusInd Bank, Hindalco Industries, Kotak Mahindra Bank, Adani Enterprises and Adani Ports.

On the sectoral front Nifty bank, metal and realty closed down 0.5% each, while IT, capital goods, oil & gas, power, healthcare and FMCG up 0.3-1%.

Kotak Mahindra Bank and HDFC Bank contributed significantly to Nifty Bank’s losses. Adani Group stocks faced a downward trend, closing lower with a fall of up to 1.7%.

BPCL secured its position as the top Nifty gainer ahead of a board meeting to discuss the FY24 interim dividend. On the other hand, CG Power reached a record high after filing an application with the IT Ministry to establish an OSAT unit.

Raymond extended its losses for the seventh consecutive day, wiping out ₹1,500 crore in market capitalization and experiencing a nearly 4% decline. Aurobindo Pharma saw a nearly 3% increase after its unit received US FDA approval for Efbemalenograstim Alfa injection.

IDBI Bank faced a 3% decline after the government canceled the bid to hire an asset valuer for divestment. Auto stocks witnessed a rise, with Tata Motors hitting a record high intra-day, and Bajaj Auto experiencing an increase of over 1%.

While Cipla and Sun Pharma reached record highs intra-day, the Nifty Pharma sector overall saw a 0.6% increase. However, Zomato faced a slight dip of over 1% after sources reported that the Directorate General of Goods and Services Tax Intelligence (DGGI) issued a GST demand notice worth ₹400 crore.

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 | Indices end in the green but off highs, Nifty fails to hold 19,800

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

Listen to the Article (6 Minutes)

The market witnessed a shift from its peak levels but managed to conclude in positive territory, although the Nifty struggled to sustain the 19,800 mark. Intra-day, the midcap segment achieved a record high, with Adani Wilmar and IEX emerging as the top gainers. The Sensex gained 276 points, settling at 65,931, while the Nifty 50 went up by 88 points to reach 19,782.

The Nifty Bank observed an increase of 120 points, reaching 43,705, and the Midcap Index recorded a rise of 27 points, closing at 41,884.

Top gainers on the Nifty 50 were SBI Life Insurance, HDFC Life, Adani Enterprises, Hindalco Industries and JSW Steel, while losers were Coal India, ONGC, BPCL, Tech Mahindra and LTIMindtree.

Among sectors, pharma, realty, and metal up 1% each, while oil & gas and capital goods down 0.5 percent each.

Realty stocks closed with gains, particularly Oberoi Realty, which marked its fifth consecutive session of positive momentum. The metals sector experienced an upswing, with JSW Steel and Hindalco recording nearly 2% gains, leading the Nifty Metal to become the top sectoral index. Titan reached a record high level, crossing a market cap of ₹3 lakh crore, reflecting a growth of over 1%.

Insurance companies extended their gains, with SBI Life and HDFC Life emerging as the top Nifty gainers. Talbros Auto continued its upward trajectory for the second consecutive day, registering an increase of more than 15%. Conversely, KPIT Tech faced a setback, slipping over 7% following a negative brokerage report.

Railway stocks concluded on a positive note, with RVNL and Titagarh Rail share prices surpassing the ₹1,000 mark for the first time. Overall, the market displayed a mixed trend across sectors, showcasing the dynamic nature of trading activities.

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 | Nifty fails to hold 19,700, broader market outperforms

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

Listen to the Article (6 Minutes)

The stock market closed on a flat note following a rangebound session. The broader market, however broader market outperformed.

The midcap segment took center stage, with the Midcap Index reaching a new record high during intra-day trading, surpassing the 42,000 mark. This surge in midcap stocks contributed to a positive market sentiment.

The BSE Sensex experienced a dip, falling by 140 points to settle at 65,655, while the Nifty 50 also recorded a modest decline of 38 points, closing at 19,694. In contrast, the Nifty Bank managed to gain 1 point, reaching 43,585, and the Midcap Index saw an increase of 45 points, concluding at 41,856.

Top losers on the Nifty included Adani Enterprises, M&M, Bajaj Finance, SBI Life Insurance and UltraTech Cement, while gainers were Divis Labs, Bharti Airtel, HCL Technologies, Wipro and ONGC.

On the sectoral front, Information Technology index up 0.6 percent and healthcare index up 0.3 percent, while selling is seen in the metal, auto, capital goods, FMCG, realty names.

Suzlon Energy, after a six-day winning streak, witnessed a setback as it closed nearly 2% lower. On the other hand, the Nifty IT sector held onto gains, with HCL Tech and Wipro both recording an increase of more than 1%.

The pharmaceutical sector extended its gains, achieving a record high, with Divi’s Lab emerging as the top Nifty gainer in this segment. Talbros Auto also made headlines by hitting a record high, surging 20% due to a significant order win.

However, not all stocks fared well, as Cipla ended the day in the red. This downturn followed the issuance of a warning letter by the US FDA for its Indore unit, raising concerns among investors.

L&T Tech experienced a nearly 2% rise as the company announced a strategic partnership with Nvidia for the development of medical devices. This collaboration contributed to the positive sentiment surrounding L&T Tech in the market.

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 | Nifty’s best week in nearly two months leaves investors richer by ₹7 lakh crore

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

Listen to the Article (6 Minutes)

In a day marked by a rangebound session, the market concluded on a predominantly lower note with financials underperforming. Notable contributors to the downturn were major banking players, including SBI, Axis Bank, and ICICI Bank, collectively leading to substantial losses in Nifty’s banking segment.

The week in the market concluded on a largely positive note, witnessing significant gains across various sectors, particularly in Information Technology and Auto stocks leaving investors richer by ₹7 lakh crore. 

The key indices exhibited a negative trend as the Sensex witnessed a decline of 188 points, settling at 69,795, while the Nifty fell by 33 points to close at 19,732. The Nifty Bank experienced a significant dip of 578 points, concluding at 43,584. In contrast, the Midcap Index managed to rise by 85 points, reaching 41,811.

SBI, Axis Bank, ONGC, BPCL and Bajaj Finance were among the top losers on the Nifty, while gainers included SBI Life Insurance, HDFC Life, Apollo Hospitals, Larsen & Toubro and Hero MotoCorp.

Among sectors, auto, capital goods, FMCG, pharma and realty up 0.5 percent each, while PSU Bank index shed 2.5 percent and oil & gas index down 1.3 percent.

RBL Bank faced a notable setback, registering a decline of 7.7%. Investors closely monitored the situation as they weighed the potential impact of new RBI norms on unsecured lending, contributing to the bank’s downturn.

MCX, after a five-day gaining streak, snapped back with a nearly 3% lower closing, reflecting a shift in its recent positive momentum. On a positive note, TVS Motor and Bajaj Auto both reached intra-day record highs, exhibiting a rise of up to 4%.

In the midst of a muted session, insurance stocks managed to rise, with SBI Life leading the way with more than a marginal increase. Railway stocks experienced a surge, with RVNL marking a rise of more than 5%, and Titagarh Rail witnessing a nearly 20% increase.

The pharmaceutical sector showed strength as Nifty Pharma hit a record high. Aurobindo Pharma led with a notable 3% increase, and Dr. Reddy’s Laboratories followed suit with a rise of more than 1%.

Market this week 

The week in the market concluded on a largely positive note, witnessing significant gains across various sectors, particularly in Information Technology and Auto stocks.

Despite the overall positive trend, the Nifty Bank underperformed, experiencing a decline of over 1%. Major contributors to the banking sector’s losses for the week were Axis Bank and SBI, emerging as the top losers.

In a remarkable feat, the Midcap Index recorded its third consecutive week of growth, reaching a record high intra-week. The broader indices, Sensex and Nifty, both saw a substantial rise of more than 1%, while the Midcap Index posted an impressive gain of nearly 3%.

Financials, including Axis Bank, Bajaj Finance, and ICICI Bank, were among the few Nifty losers for the week. However, except for the Nifty Bank, all other sectoral indices closed the week with gains. Notably, the Nifty IT emerged as the top-gaining index, showcasing strength in the Information Technology sector.

Highlighting specific stock performances, Eicher Motors, Hero MotoCorp, Coal India, and Tech Mahindra stood out as the top gainers in the Nifty segment, contributing significantly to the overall positive trend. In the midcap segment, Yes Bank, BHEL, Coforge, PFC, and TVS Motor led the pack, registering robust gains throughout the week.

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 in the green but off highs, banks underperform

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

Listen to the Article (6 Minutes)

The indices retreated from their highs but managed to close in the green, with the IT sector leading the gains while banks underperformed.

The BSE Sensex posted a  gain of 307 points, closing at 65,983, and the Nifty 50 advanced by 87 points to reach 19,762.

However, the Nifty Bank witnessed a decline of 40 points, settling at 44,162, while the Midcap Index surged 322 points to finish at 41,726.

Top gainers on the Nifty 50 were Hero MotoCorp, Tech Mahindra, TCS, HCL Technologies and Infosys, while losers were Axis Bank, Coal India, Power Grid Corporation, Tata Consumer Products and Adani Enterprises.

During intra-day trade, both the Nifty Midcap and Small Cap segments marked record highs. Additionally, Nifty Auto and Realty sectors also touched record highs but closed nearly 1% higher.

The IT sector emerged as a significant contributor to the market’s positive performance, with heavyweights like TCS and Infosys leading the charge. Nifty IT closed nearly 3% higher.

Stock wise movements

Vodafone Idea experienced a more than 2% rise after reporting a contraction in subscriber losses for the month of August. Meanwhile, Reliance Industries ended flat, and ONGC registered a gain of more than 1%, buoyed by positive developments in the crude and diesel markets, including a windfall tax cut.

Manappuram Finance continued its winning streak, ending in the green for the fourth consecutive session with a gain of over 6%. Other notable performers included Tata Motors, Persistent Systems, NTPC, and HAL, all of which hit record highs during intra-day trade.

Hero Moto emerged as the top gainer on the Nifty, driven by its highest-ever festive retail sales, closing up by 3%. Meanwhile, Bajaj Finance recovered from opening lows to end nearly 2% higher.

(Will be updated)

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 | Investors richer by 3.3 lakh crore after Nifty ends at one-month high

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

Listen to the Article (6 Minutes)

The Indian stock market witnessed a bullish trend today, as both frontline indices posted significant gains of nearly 1% each, buoyed by strong global cues. The Nifty Small Cap 100 marked a historic milestone by closing at a record high, and various sectoral indices ended the day in positive territory.

The benchmark Sensex surged by a notable 742 points, reaching 65,675, while the Nifty recorded a substantial gain of 232 points, closing at 19,675. This uptrend was supported by robust performances across sectors, contributing to the overall positive sentiment in the market.

The banking sector exhibited strength, with the Nifty Bank rising by 310 points to 44,202, while the Midcap Index saw an impressive surge of 395 points, concluding at 41,405. All sectoral indices ended the day in the green, with Nifty IT leading the pack with a gain of more than 2%.

Bajaj Finserv, Asian Paints, Bajaj Finance, ONGC and Bharti Airtel are among the top gainers on the Nifty, while losers are Dr Reddy’s Laboratories, Adani Ports, JSW Steel, Power Grid and Larsen and Toubro are among the major losers on the Nifty.

All the sectoral indices ended in the red with capital goods, FMCG, PSU Bank, metal, realty, power down 1 percent each.

Manappuram Finance emerged as one of the top gainers, experiencing a remarkable uptick of over 7% following strong Q2 results. The company’s robust performance contributed to the positive momentum in the financial sector.

The realty sector also witnessed a noteworthy development as Nifty Realty hit a record high, closing nearly 3% higher. Private insurance stocks exhibited a mixed trend, with ICICI Prudential gaining 3%, while LIC closed near the day’s low.

Eicher Motors extended its gains, closing with a substantial gain of almost 6%, securing its position as the top Nifty gainer for the day. Siemens also ended on a positive note, recording a gain of over 2%, fueled by the news of Siemens AG acquiring an 18% stake for €2.1 billion.

Continuing its winning streak, Multi Commodity Exchange (MCX) soared to a record high, reflecting the growing confidence of investors in the commodity market.

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, broader market continues to outperform

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

Listen to the Article (6 Minutes)

In a day marked by a rangebound trading session, the Indian stock market closed in the red as investors grappled with mixed earnings reports and global economic uncertainties. The BSE Sensex  slipped 326 points to close at 64,934, while the Nifty 50 shed 82 points to end the day at 19,444.

The Nifty Bank index was among the notable losers, slipping 105 points to settle at 43,891, while the Midcap Index managed to buck the trend by rising 27 points to reach 41,010.

The top losers on the Nifty 50 were SBI Life Insurance,  Bajaj Finance, Infosys, Grasim and, Nestle India. However, shares of Coal India, Eicher Motors, Hindalco, Mahindra and Mahindra (M&M), JSW Steel and BPCL were top gainers.

On the sectoral front,  all sectors except PSU Bank and Realty indices ended the trade in a negative territory. The worst hit were Nifty Consumer Durables and Nifty IT indices.

One of the highlights of the trading day was Coal India, which soared to an eight-year high following a robust Q2 performance.

Eicher Motors shares closed with a 2% gain after reporting strong Q2 results. The company’s robust performance was well-received by investors.

Public sector banks (PSU banks) also had a notable presence on the gainers’ list, with PNB and Canara Bank emerging as top performers. Their stocks witnessed substantial buying activity.

Meanwhile, Multi Commodity Exchange (MCX) continued its upward trajectory, reaching a record high.

Sun TV and Hind Copper were among the standout performers in the market, with their stocks surging 3% and 7%, respectively, on the back of impressive earnings reports.

AU Small Finance Bank also witnessed a 3% rise in its stock price, following a positive brokerage note.

Trent, after delivering a robust Q2 performance, continued its ascent in the market, reaching a record high.

On the flip side, Page Industries erased all the gains it had made following its earnings report, falling by over 3%.

REC and PFC, on the other hand, extended their gains from Samvat 2079, with both stocks rising in the range of 1-3%.

In contrast, Glenmark Pharma faced a tough day in the market, with its stock sliding by 5% due to below-than-expected Q2 results.

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 with minor cuts dragged by Adani Enterprises and HUL

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

Listen to the Article (6 Minutes)

The stock market remained within a range, closing with minor cuts. Despite this, the Nifty Bank and Midcap Index managed to close with minor gains. The Sensex slipped 143 points to 64,832, while the Nifty 50 fell 48 points to 19,395. The Nifty Bank gained 25 points to 43,684, and the Midcap Index rose 91 points to 40,538.

On the Nifty, the biggest losers were Adani Enterprises, HUL, Tata Consumer Products, Adani Ports, and ONGC; the top gainers were M&M, Apollo Hospitals, Coal India, Hero MotoCorp, and Power Grid Corporation.

Sectoral trends are mixed, with the real estate and auto indices rising by 1% and the information technology, FMCG, and oil and gas indices down by 0.5 %.

M&M emerged as the top midcap gainer, rising 4% ahead of its earnings announcement. Apollo Hospitals reported earnings that exceeded estimates, causing its stock to rise by 4%. Power-related stocks such as Power Grid and Coal India saw buying interest, with their stocks rising by 1-2%.

Despite reporting healthy Q2 earnings, Adani Ports closed with a cut of over 1%. Diagnostic names saw buying interest, with Metropolis rising 6% and Dr Lal up 2%. PFC reported a beat in Q2, pushing its stock to a 52-week high, and REC also rose.

Realty stocks regained the losses of the last two days, with stocks up 1-3%. Granules closed 3% higher after reporting an in-line set of earnings. Ramco Cements moved 1% higher on a healthy Q2, and ABB ended with a gain of 1% as earnings came in better than estimates.

Page slipped despite a healthy Q2, while Bosch slipped after weak results. MCX saw major selling, ending as the top midcap loser, down 6%. Nalco, SAMIL, and GNFC slipped on weak earnings, ending the session 2-3% lower.

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