BSE Sensex today: The Sensex index moved in a range of 413.41 points, before settling at 37,384.99
Domestic stock markets registered sharp gains in the final hours of trade on Friday, supported by a surge in banking, auto and metal stocks. The S&P BSE Sensex - which switched direction at least eight times during the session after opening higher - moved in a range of 413.41 points, before settling with a gain of 280.71 points at 37,384.99 for the day. The broader NSE Nifty 50 benchmark recovered as much as 138.7 points from an intraday low of 10,945.75 to touch 11,084.45 at the day's strongest level, before shutting shop at 10,982.80. Buying across sectors except pharmaceuticals shares supported the sharp recovery in the markets, after a session marked with high volatility for the most part. The gains came a day after official data showed consumer inflation accelerated to 3.21 per cent in August - the highest level recorded since October 2018, fuelling hopes of further monetary easing by the central bank. Separate data showed growth in industrial production was at 4.3 per cent in July, as against 2 per cent the previous month. Analysts say the latest macroeconomic data leaves room for a rate cut in the Reserve Bank of India's next bi-monthly review due in October.
Here are the highlights of the movement in domestic share markets (Sensex and Nifty) today:
Sensex, Nifty Clock Weekly Gain Of Over 1%
Sensex finished the holiday-shortened week with a gain of 403.22 points, or 1.09 per cent. The Nifty registered a weekly gain of 129.7 points (1.18 per cent).
Nine of the 11 sectoral indices on the National Stock Exchange finished higher. In percentage terms, state-run banking and metal sectors led the weekly gain.
Weekly sectoral movement
- Nifty PSU Bank: +5.20%
- Nifty Metal: +5.14%
- Nifty Realty: +4.50%
- Nifty Private Bank: +4.20%
- Nifty Auto: +3.63%
- Nifty Bank: +3.12%
- Nifty Financial Services: +2.96%
- Nifty Media: +1.00%
- Nifty Pharma: +0.06%
- Nifty FMCG: -0.55%
- Nifty IT: -2.58%
The domestic equity markets remained shut on Tuesday for Moharram.
Sensex Ends 281 Points Higher, Nifty Settles At 11,076
The S&P BSE Sensex index ended 280.71 points - or 0.76 per cent - higher at 37,384.99, and the broader NSE Nifty benchmark settled at 11,075.90, up 93.10 points - or 0.85 per cent - from the previous close.
- Nifty Bank: +1.01%
- Nifty Private Bank: +1.01%
- Nifty Auto: +1.05%
- Nifty IT: +0.90%
- Nifty Metal: +1.39%
- Nifty Pharma: -0.85%
Market Update: Sensex Surges Nearly 300 Points, Nifty Above 11,050
The S&P BSE Sensex and NSE Nifty 50 indices extended gains in last 30 minutes of trade led by gains in ICICI Bank, Reliance Industries, Infosys, Kotak Mahindra Bank, Axis Bank and State Bank of India.
The Sensex surged 296 points to 37,400 and the Nifty 50 index advanced 98 points to 11,081.
ITD Cementation Surges On Bagging Orders Worth Rs 1,100 Crore
Shares of the Mumbai-based infrastructure developer - ITD Cementation rose as much as 4.32 per cent to Rs 73.55 on the BSE after the company informed exchanges that it has won orders worth Rs 1,100 crore.
ITD Cementation India Limited won order valued at over Rs 1,100 crore from government of India's Central Public Works Department for redevelopment of division 1 of Kasturba Nagar in New Delhi, the company said in an exchange filing.
Oil Marketing Companies Gain on Falling Crude Prices
Shares of government-owned oil retailers were trading higher tracking decline in crude oil prices in the international markets. Brent Crude declined 0.5 per cent to $60 a barrel and the WTI crude futures fell 0.4 per cent to $55 a barrel.
- Bharat Petroleum rose 5.8% to Rs 406.50
- Indian Oil advanced 4.1 per cent to Rs 129.50
- Hindustan Petroleum climbed 2.3% to Rs 268.65
Rupee Gains Against Dollar, Rises Past 71 Per Dollar Mark
Continuing its upmove for a seventh straight day, the rupee gained by as much as 26 paise to edge past the 71 mark against the dollar on Friday. After starting the session at 71.01, the rupee gained further ground to touch 70.88 against the greenback in morning
. Weakness in global crude oil prices and foreign fund inflows amid a steady dollar supported the rupee, say analysts. The latest bout of rise in the rupee comes after macroeconomic data fuelled hopes of further easing of monetary policy by the central bank going forward.
Sensex, Nifty Off Day's Low As Banking Shares Recover
The S&P BSE Sensex and NSE Nifty 50 indices came off intraday low levels as banking shares staged a recovery. The Sensex rose 76 points to 37,180 and Nifty 50 index advanced 26 points to 11,008.
ICICI Bank, Infosys, Kotak Mahindra Bank, Reliance Industries and Maruti Suzuki were among the top movers in the Sensex.
On the flipside, losses in Bharti Airtel, HDFC, HDFC Bank and Larsen & Toubro capped the upmove for the benchmarks.
European Shares Trade Higher After Asian Markets Hit Six-Week High
European shares were trading higher taking cues from firm Asian markets. Germany's DAX was up 0.26 per cent France's CAC 40 index rose 0.3 per cent and Britain's FTSE 100 index was up 0.1 per cent.
Asian stocks climbed to their highest in six weeks on Friday, as signs of progress in US-China trade talks and aggressive stimulus from the European Central Bank helped to calm fears of a global economic slowdown.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.5 per cent to their highest since Aug. 1, while Japan's Nikkei rose more than 1.0 per cent to four-month highs. Markets in mainland China and South Korea were closed for public holidays.
Market Update: Sensex, Nifty Turn Flat On Weakness In Banking Shares
The S&P BSE Sensex and NSE Nifty 50 indices turned flat in afternoon deals as gains in auto and information technology shares were offset with losses in banking and pharma shares.
As of 1:28 pm, the Sensex traded 24 points lower at 37,080 and the Nifty 50 index was down 8 points at 10,975.
Indiabulls Housing Finance, Yes Bank, Bharti Airtel, Dr Reddy's Labs and Coal India were among the top Nifty losers.
On the flipside, Titan, Bharti Infratel, Hero MotoCorp, Zee Entertainment and HCL Technologies were among the gainers.
RBI Seen Holding Rates In October But Further Cuts This Year
Some economists also expect the RBI to continue with its monetary easing but hold the key rates in its bi-monthly review in October.
"Consumer price inflation is likely to inch up further in the coming months. It would however continue to be within the RBI's target. Industrial production (IIP) growth has come higher than market expectations and is a good sign, though capital and durable goods performance has not been good," credit ratings agency CARE said in a note.
"Food price inflation needs to watched for as there is potential for higher prices in the coming months and the kharif output will hold the clue... For the remainder of the financial year we expect policy rates to be cut by another 40 bps," the agency added.
Pharma Sector Worst Hit
Out of the 19 sectoral indices on the BSE, 10 traded higher in late morning deals. In percentage terms, the S&P BSE Healthcare, Telecom and Metal indices led the losses, down 0.75 per cent, 0.73 per cent and 0.69 per cent respectively.
On the other hand, the S&P BSE Consumer Durables, Realty and Consumer Discretionary Goods & Services indices were up 1.28 per cent, 0.95 per cent and 0.42 per cent respectively.
Markets Turn Flat Amid High Volatility
After opening higher, the S&P BSE Sensex changed direction at least seven times in morning deals. The National Stock Exchange (NSE)'s VIX Index - which gauges the expectation of volatility in the market over the near term - jumped as much as 1.98 per cent during the session.
At 11:01 am, the NSE Vix was up 0.58 per cent while the benchmark indices were flat.
Yes Bank, Indiabulls Housing Finance, Tata Steel Top Losers
Top Nifty gainers
Top Nifty losers
Top Sensex gainers
- Power Grid: +1.33%
- Kotak Bank: +1.01%
- ONGC: +0.79%
- HCL Tech: +0.64%
- Mahindra & Mahindra: +0.60%
Top Sensex losers
Market Breadth Neutral To Negative
Market breadth was neutral to negative, with an advance-decline ratio of 1:1 on the Bombay Stock Exchange (BSE). On the bourse, 835 stocks traded higher while 840 moved lower after the first hour of trade. On the National Stock Exchange (NSE), 699 shares advanced and 897 declined, while 511 remained unchanged.
Rupee Rises To Edge Past 71 Mark Against Dollar
The rupee gained by as much as 26 paise to touch 70.87 against the US dollar in early trade. It was last seen trading 15 paise - or 0.21 per cent - higher at 70.98 against the greenback. The 10-year government bond yield was at 6.66 per cent, unchanged from its previous close.
Auto Stocks Rise; Maruti Suzuki Shares Gain 2%
The Nifty Auto sectoral index - comprising manufacturers of cars, motorcycles, heavy vehicles, auto ancillaries and tyres - was up 1.00 per cent at the time, having risen as much as 1.21 per cent so far in the session. Maruti Suzuki shares were among the top three gainers on both the indices in the first few minutes of trade.
- Nifty Bank: +0.04%
- Nifty PSU Bank: -0.86
- Nifty Auto: +1.00%
- Nifty IT: +0.64%
- Nifty Pharma: -0.49%
Sensex Up 100 Points, Nifty Above 11,000
At 9:33 am, the Sensex was up 100.29 points (0.27 per cent) at 37,204.57 and the Nifty was at 11,002.25, up 19.45 points (0.18 per cent) from its previous close. Titan, Maruti Suzuki, Infosys, Wipro, Kotak Bank and Tata Motors were the top gainers on the 50-scrip index, trading between 0.74 per cent and 1.61 per cent higher.
Banking Stocks Drag Markets Lower
Top laggards on the 50-scrip index at the time were Yes Bank, HDFC Bank, State Bank of India, IndusInd Bank and Britannia, trading between 0.56 per cent and 2.87 per cent lower. On the other hand, Adani Ports, Wipro, Bajaj Auto, Titan and Maruti Suzuki were the top gainers on the index, up between 0.77 per cent and 0.95 per cent.
HDFC Bank, HDFC and State Bank of India were the top drags on the Sensex.
Nifty Opens Flat
The 50-scrip NSE Nifty index opened 4.00 points higher at 10,986.80 whereas the S&P BSE Sensex index started the session at 37,175.86, down 71.58 points from the previous close. At 9:18 am, the Sensex traded 33.65 points - or 0.09 per cent - lower at 37,070.63 while the Nifty was down 9.40 points - or 0.09 per cent - at 10,973.40.
Asian Shares Jump As Investors' Worries About Global Slowdown Ease
Equities in other Asian markets advanced as hints of progress in US-China trade talks and aggressive stimulus from the European Central Bank helped counter worries about a global economic slowdown.
MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.3 per cent though mainland China and South Korea were closed for public holidays. Japan's Nikkei rose 1.0 per cent to four-month highs.
Sensex, Nifty Rise In Pre-Open Market
In the pre-opening session, the S&P BSE Sensex index rose as much as 151.12 points to 37,255.40. At 9:02 am, the S&P BSE Sensex was up 97.60 points - or 0.26 per cent - at 37,201.88, while the broader NSE Nifty index was up 1.10 point at 10,983.90.
Twenty eight stocks were up on the 50-scrip index while 12 were down and 10 unchanged at the time.
Consumer Inflation Seen Remaining Below RBI's Medium-Term Goal: Experts
"We expect the central bank to cut policy repo rate in its October 2019 monetary policy review. However, its impact on growth is contingent on faster transmission and consumer response to rate cut," said Devendra Pant, chief economist, India Ratings.
Inflation Data Leaves Room For One More Rate Cut, Say Experts
Macroeconomic data leaves room for the Reserve Bank of India to deliver one more rate cut in its next bi-monthly review due in October, say analysts.
Consumer inflation came in at 3.21 per cent in August, marking the highest level recorded since October last year, government data showed after market hours on Thursday. The Reserve Bank of India (RBI) tracks consumer inflation primarily while formulating its monetary policy.
Separate official data showed growth in industrial production was at 4.3 per cent in July, as against 2 per cent the previous month.
US Stocks Near All-Time High Overnight
Overnight in the US, Wall Street advanced with the S&P 500 ending the session within a striking distance of its all-time closing high, buoyed by positive developments on the US-China trade front and a promise of continued stimulus from the European Central Bank.
Technology gains led the S&P 500 and the Nasdaq higher, while financials gave the biggest boost to the blue-chip Dow, which closed up for the seventh consecutive session, its longest winning streak since May.
Asian Shares Rise On Easing US-China Trade Concerns
MSCI's broadest index of Asia Pacific shares except Japan was last seen trading 0.30 per cent higher. Japan's Nikkei 225 index was up 0.86 per cent.
Stocks rose worldwide as China and the US made concessions ahead of next month's planned talks in Washington, aimed at easing a trade war that has whipsawed markets and stoked recessionary fears for months.
SGX Nifty Futures Indicate Flat Opening For Markets
Domestic stock markets are likely to open on a flat note, a day after the NSE Nifty benchmark index broke a five-day winning streak. At 8:34 am, the SGX Nifty futures on the Singapore Exchange - an early indicator of the NSE Nifty in India - traded down 1.50 point at 10,990.00, having moved in a range of 11,014.00-10,984.50.