victorybull

Tag: Sensex

  • In Early Trade, The Rupee Is Trading Flat Against The US Dollar

    In Early Trade, The Rupee Is Trading Flat Against The US Dollar

    On Tuesday, the rupee opened flat versus the US dollar, owing to a lackluster trend in domestic equity markets and continued foreign capital outflows The rupee opened sluggish versus the dollar at 77.56 on the interbank foreign exchange, before becoming volatile and trading in a narrow range of 77.56 to 77.51. The native currency was trading at 77.56 against the US dollar, down barely 1 paisa from the previous close The rupee had finished at 77.55 versus the dollar in the previous session. The dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.19 percent at 102.27.






    The was down 59.07 points, or 0.11 percent, at 54,229.54 points, while the broader NSE Nifty was down 28.15 points, or 0.17 percent, at 16,186.55 points in the domestic equity market. Brent crude futures fell 0.61 percent to USD 112.73 a barrel, the global benchmark According to stock exchange data, foreign institutional investors were net sellers in the capital market on Monday, offloading shares worth Rs 1,951.17 crore RBI Governor Shaktikanta Das intimated on Monday that another interest rate hike in early June would be necessary to bring the stubbornly high inflation rate down. The next meeting of the Monetary Policy Committee (MPC) is scheduled for June 6-8.

  • Indices fall for the fourth day in a row as global equities markets tumble and FPIs retreat

    Sensex and Nifty indices

    The benchmark Sensex and Nifty indices dropped for the fourth day in a row on Wednesday, extending their month-to-date decline to over 5 per cent amid a global equity rout and sustained pull-back by foreign portfolio investors (FPIs).

    The US Federal Reserve’s (Fed’s) decision to aggressively hike interest rates and reduce balance sheets to catch up with inflationary pressures has wreaked havoc across risky assets in recent weeks. Add to that, global growth concerns due to China’s Covid-management approach and jump in commodity prices attributable to the disruption in supply chains caused by the Russia-Ukraine conflict.
    On Wednesday, the Sensex closed at 54,088 points, down 276 points or 0.51 percent.

    The Nifty ended the day at 16,167, down 73 points or 0.45%. Both indicators closed at their lowest levels since March 8. Both indices are down roughly 12% since the year’s top in January.

    Other worldwide markets have fallen even faster. The MSCI Emerging Markets (EMs) Index, for example, is down 28% from its peak in February last year, while MSCI China has more than halved.

    India is one of the most expensive emerging markets. In addition, due to its large reliance on imports, India has the weakest profit revision. Due to margin pressure caused by rising prices, several leading Indian corporations failed to reach consensus earnings projections in the March quarter.

    According to Bloomberg, 11 of the 28 Nifty50 companies that have released earnings thus far have missed projections, while 17 have at least met them. Cipla and Asian Paints were the most recent companies to declare profits that fell short of expectations.

    On Wednesday, only nine Sensex components rose, while 22 fell. Larsen & Toubro, Bajaj Finserv, and Bajaj Finance all lost more than 2% of their value. Axis Bank and IndusInd Bank both gained 1.9 percent and 1.4 percent.

  • Sensex down 200pts, Nifty tests 18,000; RIL, HDFC twins weigh

    After a tepid start, the key benchmark indices were seen holding marginal losses in late morning trade-off the low of the day as gains in select IT and FMCG shares helped offset losses in financials.
    The BSE Sensex from an opening high of 60,786, had slipped to an intra-day low of 60,227. The index, however, was down around 200 points at 60,400-odd levels. The NSENifty was seen testing the 18,000-mark, down 50-odd points.
    Among the Sensex 30 shares, the HDFC and Bajaj twins along with Reliance Industries were the major losers, down 1-2 percent each. On the positive front, Titan, NTPC, Dr.Reddy’s, Mahindra & Mahindra, Hindustan Unilever, TCS, Maruti, and Nestle India were the prominent gainers, up 1-2 percent each.
    The broader markets, however, outperformed the benchmark indices by a large margin. The BSE Midcap index was up 0.8 percent, while the Smallcap index rallied 1.3 percent. The overall breadth too was fairly positive with nearly 2,300 stocks advancing, versus 913 declining stocks on the BSE so far.
    Sectorally, the BSE Consumer Durables, Power, Telecom and Auto indices were the strong gainers; whereas Bankex was the notable loser.

    Among other individual stocks, SBI Cards shed 4 percent on the BSE. As per reports, private equity firm Carlyle Group will sell its entire stake in the company for as much as Rs 2,558 crore.

    Moreover, Zomato, too, dropped 5 percent after the Competition Commission on Monday ordered a detailed probe against Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners.

  • Sensex jumps over 300 points in early trade; Nifty above 17,300

    Equity benchmark Sensex surged over 300 points in early trade on Tuesday, following gains in index majors HDFC, Maruti Suzuki, and ICICI Bank amid a largely positive trend in global equity markets.

    Besides, a fall in international crude prices supported the market sentiment, traders said.

    The 30-share BSE barometer was trading 317.22 points higher at 57,910.71. Similarly, the broader NSE Nifty gained 93.45 points to 17,315.45.

    From the 30-share pack, UltraTech Cement, HDFC, Asian Paints, Bharti Airtel, Maruti Suzuki and ICICI Bank were the lead gainers.

    On the other hand, ITC, Tata Steel and NTPC were among the laggards.

    In the previous trade, the BSE barometer climbed 231.29 points or 0.40 per cent to settle at 57,593.49. The NSE Nifty recovered 69 points or 0.40 per cent to 17,222.

    Elsewhere in Asia, bourses in Tokyo, Seoul and Hong Kong trading in the green, while Shanghai quoted marginally lower during mid-session deals.

    Stock exchanges in the US ended with gains on Monday.

    Meanwhile, international oil benchmark Brent crude declined 1.30 per cent to USD 111.02 per barrel.

    Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 801.41 crore on Monday, according to stock exchange data.

  • Sensex, Nifty surrender early gains as boiling oil plays spoilsport

    Equity indices relinquished early gains to close in the red for the second straight session on Thursday as surging oil prices amid the ongoing conflict between Russia and Ukraine sapped risk appetite.

    Crude oil prices ratcheted up towards the USD 120 per barrel mark on fears of supply disruptions as western nations tightened sanctions on Russia, which accounts for around 10 percent of global oil output.

    A weakening rupee and persistent foreign fund outflows also weighed on sentiment, traders said.

    The 30-share BSE Sensex started the trade on a firm footing and jumped 527.72 points in morning deals to a high of 55,996.62. However, during the afternoon session, it surrendered all its early gains and finished at 55,102.68, down 366.22 points or 0.66 percent.

    UltraTech Cement was the biggest drag among the Sensex components, tumbling 6.47 percent, followed by Asian Paints, Dr. Reddy’s Laboratories, Maruti Suzuki India, Hindustan Unilever Limited, and ICICI Bank. Similarly, the broader NSE Nifty declined 107.90 points or 0.65 percent to close at 16,498.05.

    In contrast, PowerGrid, Wipro, Tech Mahindra, HCL Tech, ITC, Tata Steel, and Infosys were among the prominent gainers, climbing as much as 3.34 percent.

    “Domestic equity markets closed lower as the geopolitical scenario continue to worsen due to the Russia-Ukraine crisis. Soaring crude prices due to supply disruptions from Russian sanctions have further escalated the situation,” according to Mitul Shah, Head Of Research at Reliance Securities.

    Vinod Nair, Head of Research at Geojit Financial Services, said the release of strategic reserves of oil in India and abroad along with increased output Afrom OPEC is expected to ease crude prices in the future.

    “Additionally, the Indian market will look at the state elections exit poll data while the global market will track war developments, BoE and Fed policy meeting status from next week,” he noted.

    Among sectors, BSE auto dropped the most at 2.24 percent, followed by consumer discretionary goods and services, bank and capital goods, while utilities, power, and oil and gas mustered gains.

    The BSE midcap and smallcap indices ended on a mixed note.

    International oil benchmark Brent crude surged 2.75 percent to USD 116.03 per barrel.

    Bourses in Hong Kong and Tokyo settled with gains, while Shanghai was marginally lower.

    Stock exchanges in the US closed in the positive territory in the overnight session. European markets were mostly lower in the afternoon session.

    The rupee declined by 16 paise to close at 75.96 against the US dollar on Thursday.

    Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 4,338.94 crore on a net basis on Wednesday, as per exchange data.

  • Market Highlights: Sensex rises 460 points, Nifty end above 17,600-mark after RBI keeps rates unchanged

    The benchmark equity indices on the BSE and National Stock Exchange (NSE) extended their gains for the third successive day, ending around 0.8 per cent higher on Thursday following the outcome of the Reserve Bank of India’s (RBI) monetary policy meeting where the central bank kept its key lending rates unchanged for the tenth consecutive time while maintaining an ‘accommodative stance’.

    The S&P BSE Sensex climbed 460.06 points (0.79 per cent) to settle at 58,926.03 while the Nifty 50 rose 142.05 points (0.81 per cent) to end at 17,605.85. Both the indices had opened with marginal gains earlier in the day.

    On the Sensex pack, Tata Steel was the top gainer of the day rising over 2 per cent, followed by Infosys, HDFC Bank, Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank and Mahindra & Mahindra (M&M). On the other hand, Maruti Suzuki India, Nestle India, Ultratech Cement and Reliance Industries (RIL) were the laggards.

  • Sensex, Nifty end lower in see-saw session; HDFC bucks trend

    Market benchmarks closed in the red after a highly volatile session on Wednesday despite a positive trend in global equities amid signs of cooling of Russia-Ukraine tensions.

    The 30-share BSE Sensex swung nearly 800 points during the session before closing at 57,996.68 — marking a loss of 145.37 points or 0.25 per cent

    Likewise, the NSE Nifty see-sawed between gains and losses before settling 30.25 points or 0.17 per cent lower at 17,322.20.

    On the Sensex chart, NTPC, SBI, UltraTech Cement, ICICI Bank, Tata Steel, Bajaj Finserv and Bjaja Finance were among the major laggards, shedding as much as 1.63 per cent.

    In contrast, Bharti Airtel was the top performer, spurting 1.41 per cent, followed by HDFC, M&M, Dr Reddy’s, Kotak Bank and Nestle India.

    Of the index constituents, 22 shares closed with losses.

    Ajit Mishra, VP – Research, Religare Broking Ltd, said markets are currently dancing to the global tunes and the trend is likely to continue.

    “The US Fed meeting minutes and lingering tension over the Russia-Ukraine crisis will remain on the radar. Besides, the scheduled weekly expiry would further add to the choppiness. We reiterate our cautious stance and suggest waiting for further clarity,” he noted.

    Sectorally, metal, banking and basic materials indices fell the most — dropping up to 0.66 per cent. Of the 19 indices, 11 indices closed in the red. Broader BSE midcap and largecap gauges followed the benchmark to end lower, while the smallcap index logged gains.

    World stocks edged higher after Russia said it was pulling back some troops from the Ukraine border, even as the US administration reiterated its commitment to respond “decisively” in case of a Russian attack.

    Elsewhere in Asia, bourses in Tokyo, Shanghai, Hong Kong and Seoul closed with significant gain.

    Markets in Europe too were largely trading higher in the afternoon session. Global crude oil benchmark Brent Futures slipped 0.19 per cent to USD 93.06 per barrel.

    The rupee appreciated by 23 paise to close at 75.09 against the US dollar. Foreign institutional investors (FIIs) were net sellers in the capital market on Tuesday, as they offloaded shares worth Rs 2,298.76 crore, according to stock exchange data.

  • Sensex rebounds over 1700 points to reclaim 58K, Nifty ends above 17,300

    European stocks and U.S. futures rose Tuesday after a report fuelled optimism that Russia is de-escalating tensions with Ukraine. Russia said Tuesday that some forces deployed near Ukraine were beginning to return to their bases, after a build-up of Moscow’s army around Ukrainian borders spurred fears of an invasion.

    After a bruising sell-off on Monday, Indian equities rebounded today to close higher, aided by reports of some de-escalation in tensions between Russia and Ukraine. Gains on domestic bourses were led by banks, auto, IT, metal and FMCG stocks.

    The Sensex surged 1,736.21 points or 3.08% to close the day at 58,142.05, and the Nifty rose 509.70 to 17,352.50. 

    On the Nifty, Tata Motors, Eicher Motors, Bajaj Finance, Shree Cements and Hero MotoCorp were the top gainers, while Cipla and ONGC were worst hit. Forty eight of 50 Nifty stocks closed higher.

    All sectoral indices ended higher, with auto, realty, IT, FMCG stocks, banks, PSU banks up 2-4%. BSE MidCap and SmallCap indices rose 2% each.

  • Sensex tanks 1200 pts, Nifty at about 17000, support at 16900-17000, TCS, Sun Pharma gain

    Benchmark indices BSE Sensex and NSE Nifty 50 opened lower on Monday amid weak global cues. The Sensex was down 1,197.86 points or 2.06% at 56955.06, and the Nifty was down 348.00 points or 2.00% at 17026.80. M&M, SBI, ITC, L&T and ICICI Bank were among major losers on the Nifty, while gainers were ONGC and TCS. All the sectoral indices are trading in the red with auto, bank ,FMCG, metal, power, realty and capital goods indices down 2-3 per cent. In the broader markets, the BSE MidCap and SmallCap indices were deep in red, down 2.7 per cent and 3.15 per cent, respectively.

  • MFs garner Rs 99,704 crore via NFOs in 2021 on sharp rally in stock market

    Mutual fund houses launched 140 new fund offerings (NFOs), which collected about Rs 1 lakh crore in 2021 on a sharp rally in the markets and an exceptional increase in the retail investors’ interest.

    However, the current volatility in the stock market might prompt asset management companies (AMCs) to limit the launch of NFOs this year, said MyWealthGrowth.com co-founder Harshad Chetanwala.

    Ankit Yadav, wealth manager (USA) and director of Market Maestro, also believes that NFOs are going to decrease in 2022 and little will come in 2023 when rates start changing.

    According to data compiled by Morningstar India, there were 140 new fund offers (including closed-end funds and ETFs) in 2021. These managed to garner a respectable Rs 99,704 crores during their inception stage.

    This was way higher than 81 NFOs floated in 2020 and cumulatively, these funds were able to garner Rs 53,703 crore.

    “Given the sharp rally in the markets along with the need to fill product gap created post-recategorisation and giving investors new themes to invest in, asset-management companies launched a plethora of new schemes across the year (2021),” Morningstar noted.

    Usually, NFOs come during a surging market when investor sentiments are high and optimistic. The stock market along with the positive investor sentiments kept surging post-March 2020. It is from this point in time the launch of NFOs started, Chetanwala said.

    The NFOs were floated to capitalise on the mood of investors and attract their investment as they were willing to invest at that time, he added.

    “The main fact as a wealth manager I see in low rate scenario is that the borrowing becomes easy with easy money fluctuating around businesses tend to bring their IPOs and AMC (assets management company) businesses are inclined NFOs,” Market Maestro’s Ankit Yadav said.

    In 2020, the central banks throughout the globes cut the rates and made rates hit all-time lows in the 100-year history. Rates remain unchanged in 2021. That’s why to utilise low rates, AMC businesses bring NFOs, he added.

    The maximum number of funds (25) were launched in the index fund segment, which amassed Rs 4,082 crore, followed by other ETFs (24), which collected Rs 7,482 crore and fixed-term plans (23), which mobilised Rs 5,057 crore.

    In addition, investors were attracted to international funds and sectoral or thematic funds. The AMCs launched 12 sectoral or thematic funds, which raised Rs 13,237 crore and floated 12 overseas funds of funds, which mopped up Rs 6,351 crore.

    Experts believe that the dominance of index funds and ETFs (exchange-traded funds) within NFOs is not surprising, owing to a couple of factors.

    Existing AMCs have no restrictions in the number of passive products they can manufacture, whereas there are limits on other types of funds, Vasanth Kamath, founder and CEO at Smallcase, said.

    “Also, as investors (across retail, HNIs, institutional) are broadening and diversifying their portfolios, they’re preferring to take an index approach to new exposures and asset types, making it both efficient and simple versus having to build their own frameworks and strategies on these universes,” he said.

    In addition, the staggering growth of new demat accounts requires fund houses to offer a larger, diverse line-up of ETFs that were missing in the exchange-traded form factor, he added.

    Another factor for higher NFOs in the index category could be strong performance as the index delivered over 20 per cent last year.

    Further, the penetration of Indian investors towards index or ETF is low. So, AMCs try to capture their market share, Market Maestro’s Yadav said.