BSE Sensex today: The Sensex fell more than 200 points from the day's high in late morning deals
Domestic stock markets fell on Thursday as the markets reversed the day's gains amid selling in auto, IT and energy shares. The S&P BSE Sensex index, which added as much as 164.33 points to touch 37,435.15 on the upside, fell 386.48 points from that level in the second half of the session. The broader NSE Nifty benchmark slid below the 11,000 mark, retreating as much as 116.8 points from its intraday high of 11,081.75. Losses in automobile and energy stocks dragged the markets lower as financial stocks trimmed gains in afternoon trade. Yes Bank, Tata Motors, Maruti Suzuki and Axis Bank were the top laggards on both benchmark indices. Analysts awaited the release of macroeconomic data for cues and more clarity on interest rates going forward.
Here are the highlights of the movement in share markets (Sensex and Nifty) today:
Yes Bank, Tata Motors, Maruti Suzuki India Top Laggards
Top Nifty Gainers
- Indiabulls Housing Finance: +3.64%
- UltraTech Cement: +2.47%
- ICICI Bank: +2.03%
- Hindalco Industries: +1.65%
- Sun Pharmaceutical Industries: +1.30%
- IndusInd Bank: +1.23%
- Grasim Industries: +0.84%
Top Nifty Losers
- Yes Bank: -4.68%
- Tata Motors: -3.80%
- Maruti Suzuki India: -3.01%
- Axis Bank: -2.79%
- JSW Steel: -2.64%
- Zee Entertainment: -2.34%
- GAIL: -2.34%
Banking Stocks Lose Steam
The Nifty Bank ended 0.5 per cent higher, trimming most of the day's gains after rising as much as 1.03 per cent during the session. Sharp losses in auto and energy stocks pulled the markets lower.
The Nifty Bank ended 0.5 per cent higher, trimming most of the day's gains after rising as much as 1.03 per cent during the session. Sharp losses in auto and energy stocks pulled the markets lower.
Sectoral movement
- Nifty Bank: +0.5%
- Nifty Financial Services: +0.24%
- Nifty Auto: -1.81%
- Nifty IT: -0.68%
- Nifty FMCG: -0.71%
- Nifty Energy: -1.24%
Nifty Breaks Five-Day Winning Run
The S&P BSE Sensex ended 166.54 points - or 0.45 per cent - lower at 37,104.28 and the broader NSE Nifty finished at 10,981.05, down 54.65 points - or 0.50 per cent - from the previous close. The 50-scrip benchmark index broke a five-day winning streak in which it had gained 237.8 points - or 2.20 per cent.
Nifty Set To Break Five-Day Winning Run
If the Nifty ends in the negative zone, that would mark the first lower closing for the 50-scrip index since September 3. At 3:07 pm, the Sensex traded 111.81 points (0.30 per cent) lower at 37,159.01 and the Nifty was at 10,988.50, down 47.20 points (0.43 per cent) from the previous close.
Sectoral movement
- Nifty Bank: +0.35%
- Nifty PSU Bank: +0.58%
- Nifty Financial Services: +0.51%
- Nifty Auto: -1.99%
- S&P BSE Auto: -1.90%
- S&P BSE TEecom: -1.43%
- Nifty Pharma: +0.35%
- S&P BSE Energy: -1.33%
Immediate Support For Nifty Seen At 10,950
"In the last couple of trading sessions, intraday activity in index (Nifty) has been sluggish and in yesterday's session, it seemed that trader's interest was completely shifted outside the index where some of the midcap stocks gave a mesmerizing up move of 5 - 10 per cent with ease," said Sameet Chavan, chief analyst-technical and derivatives, Angel Broking.
"On the Index front, technically not much has changed but looking at the outperformance in midcap space along with Bank Nifty we sense the optimism is likely to continue and we are likely to retest 11,100-11,180 mark soon. On the flipside, the immediate supports for the index are placed around 10,950 and 10,880."
Walchandnagar Industries Shares Jump 20% After Deal Win From ISRO
In the small-cap space, shares in engineering company Walchandnagar Industries jumped by their maximum daily limit of 20 per cent, a day after the company said it won an order worth Rs 77.20 crore from the Vikram Sarabhai Space Centre, Thiruvananathapuram. VSSC is the lead centre responsible for all launch vehicle programs of Indian Space Research Organisation (ISRO).
At 1:13 pm, Walchandnagar Industries shares were locked in an upper circuit at Rs 72.15 apiece on the BSE amid large volumes.
In the small-cap space, shares in engineering company Walchandnagar Industries jumped by their maximum daily limit of 20 per cent, a day after the company said it won an order worth Rs 77.20 crore from the Vikram Sarabhai Space Centre, Thiruvananathapuram. VSSC is the lead centre responsible for all launch vehicle programs of Indian Space Research Organisation (ISRO).
At 1:13 pm, Walchandnagar Industries shares were locked in an upper circuit at Rs 72.15 apiece on the BSE amid large volumes. Mid- and small-cap stocks outperformed the broader markets, with the S&P BSE MidCap and SmallCap indices rising 0.71 per cent and 1.02 per cent respectively during the session.
In the mid-cap space, Wockhardt, Emami, Edelweiss, Tata Power and Reliance Capital - trading between 2.79 per cent and 17.23 per cent higher - were the top percentage gainers.
Government In Talks With States Over Auto GST Rate: Nitin Gadkari
Union Minister Nitin Gadkari said on Wednesday that the government is in talks with the state governments and will take a call on whether or not to reduce the GST rate on automobiles. The comments from the minister came amid demand for a reduction in the GST rate applicable to the country's auto sector, which has been heavily dented by a consumption slowdown.
However, the final decision to reduce the rate can only be taken by the GST Council, Mr Nitin Gadkari added. (Read full story)
Share Market Updates - Sensex, Nifty Turn Flat As Auto Stocks Slide
At 11:40 am, the S&P BSE Sensex index traded 4.12 points lower at 37,266.70 and the broader NSE Nifty benchmark was down 7.15 points at 11,028.55.
Top Nifty Gainers
- Indiabulls Housing Finance: +2.89%
- UltraTech Cement: +2.60%
- ICICI Bank: +2.50%
- Grasim Industries: +1.42%
- HDFC: +1.37%
Top Nifty Losers
- Yes Bank: -3.77%
- Tata Motors: -3.28%
- Eicher Motors: -2.14%
- Axis Bank: -1.75%
- Maruti Suzuki: -1.71%
Auto Industry Downturn Continues for 9 Months
Passenger vehicles sales fell 23.54 per cent in the first five months of the current financial year, according to data from industry body Society of Indian Automobile Manufacturers (SIAM). With that, a downturn in the country's auto industry continued for nine months in a row, according to the industry body.
Auto Shares Fall; Tata Motors, TVS Motor Worst Hit
Maruti Suzuki and Eicher Motors traded 1.66 per cent and 1.74 per cent lower.
The stock markets gave up most of the day's gains by late morning. At 11:13 am, the Sensex was at 37,336.72, up 65.90 points - or 0.18 per cent - from its previous close, while the Nifty was up 8.00 points - or 0.07 per cent - at 11,043.70. The Nifty Auto index was down 1.03 per cent at the time, with Tata Motors and TVS Motor shares down 2.94 per cent and 2.10 per cent respectively.
Maruti Suzuki and Eicher Motors traded 1.66 per cent and 1.74 per cent lower.IT Stocks Fall As Rupee Continues Upmove
The Nifty IT index fell as much as 0.74 per cent during the session, dragged lower by TCS and HCL Tech, which declined 1.07 per cent and 0.92 per cent respectively. The S&P BSE Information Technology index dropped 0.66 per cent whereas the S&P BSE Teck index moved 0.73 per cent lower.
The rupee appreciated by as much as 37 paise against the US dollar, extending gains to a sixth session in a row. Strength in the rupee limits the profitability of exporters such as IT companies.
Stock Markets At 10:00 Am
At 10:00 am, the S&P BSE Sensex traded up 157.55 points - or 0.42 per cent - at 37,428.37 while the broader NSE Nifty benchmark was at 11,080.40, up 44.70 points (0.41 per cent) from the previous close.
Top percentage gainers on the Nifty at the time were Indiabulls Housing Finance, Tata Steel, ICICI Bank, IndusInd Bank, Indian Oil and Bharat Petroleum, trading between 1.74 per cent and 3.28 per cent higher. ICICI Bank, HDFC, HDFC Bank and IndusInd Bank were the top contributors to the gains in Sensex.
Gains In Banking Sector Continue For Fourth Straight Session
The Nifty Bank - comprising scrips of 12 large lenders including State Bank of India, ICICI Bank and Punjab National Bank- rose as much as 0.94 per cent in the first hour of trade, rising for a fourth day in a row.
The Nifty Bank - comprising scrips of 12 large lenders including State Bank of India, ICICI Bank and Punjab National Bank- rose as much as 0.94 per cent in the first hour of trade, rising for a fourth day in a row.
Till Wednesday's close, the Nifty Bank had risen 856.5 points - or 3.18 per cent - in three consecutive trading sessions.
Financial, Metal Stocks Lead Gains; ICICI Bank Shares Up Nearly 3%
Top Nifty gainers
- ICICI Bank: 2.75%
- Indiabulls Housing Finance: 2.67%
- Tata Steel: 2.47%
- JSW Steel: 1.93%
- Indian Oil Corporation (IOC): 1.79%
- Grasim Industries: 1.40%
- UPL: 1.28%
Top Nifty losers
- Yes Bank: -1.89%
- Eicher Motors: -1.23%
- Bharti Infratel: -1.17%
- Bajaj Auto: -0.83%
- Bajaj Finserv: -0.80%
- Bharti Airtel: -0.68%
- Tata Motors: -0.60%
Advance-decline Ratio Favours Gains
Market breadth favoured gains, with an advance-decline ratio of about 3:1. On the Bombay Stock Exchange (BSE), 1,010 stocks traded higher while 303 moved lower. On the NSE, 1,129 stocks advanced while 413 declined.
Market breadth favoured gains, with an advance-decline ratio of about 3:1. On the Bombay Stock Exchange (BSE), 1,010 stocks traded higher while 303 moved lower. On the NSE, 1,129 stocks advanced while 413 declined.
Sectoral movement
- Nifty Bank: +0.64%
- Nifty Financial Services: +0.66%
- Nifty PSU Bank: +0.53%
- Nifty Metal: +1.22%
- Nifty Pharma: +0.49%
- Nifty IT: -0.02%
Sensex Rises Over 100 Points In Early Trade, Nifty Crosses 11,050
At 9:17 am, the Sensex traded 106.90 points - or 0.29 per cent - higher at 37,377.72, while the Nifty was up 29.10 points - or 0.26 per cent - at 11,064.80.
Top gainers on the 50-scrip index at the time were ICICI Bank, Indiabulls Housing Finance, Tata Steel, JSW Steel and Larsen & Toubro, trading between 0.83 per cent and 1.62 per cent higher.
ICICI Bank, HDFC and Larsen & Toubro were the top contributors to the upmove in Sensex.
Rupee Gains By 26 Paise Against Dollar
The rupee rose by as much as 26 paise to touch 71.40 against the US dollar in early trade. After opening at a gain of 23 paise against the greenback at 71.43, the rupee rose to 71.40 in the first few minutes of trade. It was last seen trading at 71.43 against the US dollar. (Read more)
The rupee rose by as much as 26 paise to touch 71.40 against the US dollar in early trade. After opening at a gain of 23 paise against the greenback at 71.43, the rupee rose to 71.40 in the first few minutes of trade. It was last seen trading at 71.43 against the US dollar. (Read more)
Sensex, Nifty Rise In Pre-Opening Session
In the pre-open session, the Sensex rose as much as 127.07 points to 37,397.89.
In the pre-open session, the Sensex rose as much as 127.07 points to 37,397.89.
At 9:03 am, the Sensex was up 114.62 points - or 0.31 per cent - at 37,385.44 and the Nifty traded with a gain of 28.85 points - or 0.26 per cent - at 11,064.55.
35 stocks were seen rising and 11 declining on the 50-scrip benchmark index at the time.
Consumer Inflation, Industrial Production Data Due Today
The government is due to release data on consumer inflation after market hours today. According to the median forecast from over 40 economists polled by news agency Reuters, consumer prices rose at an annual rate of 3.3 per cent in August, up from 3.15 per cent in July and the highest since October 2018. Forecasts ranged between 3.00-3.50 per cent.
The government is due to release data on consumer inflation after market hours today. According to the median forecast from over 40 economists polled by news agency Reuters, consumer prices rose at an annual rate of 3.3 per cent in August, up from 3.15 per cent in July and the highest since October 2018. Forecasts ranged between 3.00-3.50 per cent.
The government will also release data on industrial production - gauged by Index of Industrial Production - separately.
Wall Street Cheers Trade Tariff Developments
Overnight in the US, the S&P 500 closed above the 3,000 mark for the first time since July 30, as Wall Street was led by tariff-sensitive technology and industrial stocks.
Apple Inc provided the biggest boost to the S&P 500 and the Nasdaq a day after it unveiled its latest iPhone upgrade and announced the launch date of its Apple TV+ streaming service.
Its shares rose 3.2%, once more lifting the company's value above the $1 trillion mark.
The 50-scrip NSE Nifty index has risen 237.8 points in past five trading sessions, marking a rise of 2.20 per cent. The S&P BSE Sensex benchmark has added 626.4 points to clock a rise of 1.71 per cent during this period.
That also marks the largest upmove in Nifty since August 27, when it had added 364.00 points - or 3.39 per cent - in three days.
China’s Tariff Exemptions For 16 Types Of US Products
China on Wednesday announced its first batch of tariff exemptions for 16 types of US products, including some anti-cancer drugs and lubricants, as well as animal feed ingredients whey and fish meal, according to an official statement on its website.
China's decision to exempt some US goods was a "big move" by Beijing and a positive gesture before trade negotiators from both countries meet in Washington, Mr Trump told reporters at the White House.
US, China Grant Trade Concessions Ahead Of Fresh Talks
On Wednesday, US President Donald Trump welcomed China's decision to exempt some US anti-cancer drugs and other goods from its tariffs and announced a short delay to scheduled tariff hikes on billions worth of Chinese goods.
The concessions came days ahead of a planned meeting aimed at defusing the escalating trade war between the world's two largest economies.
Asian Shares Hit Six-Week High
Equities in other Asian markets hit a six-week high, with MSCI's broadest index of Asia-Pacific shares outside Japan rising 0.4 per cent and Japan's Nikkei stock index up 0.88 per cent. Hopes for a thaw in US-China trade frictions and expectations that the European Central Bank would kick off another wave of monetary easing by global central banks supported the stock markets.
Sensex, Nifty Set To Open Higher As Indicated By SGX Nifty Futures
Domestic equity markets are likely to start Thursday's session on a higher note, as indicated by the SGX Nifty futures trading on the Singapore Exchange. At 8:34 am, the SGX Nifty futures were up 35.50 points - or 0.32 per cent - higher at 11,072.50. The SGX Nifty is an early indicator of the National Stock Exchange (NSE)'s Nifty index in India. On Wednesday, the 50-scrip benchmark had finished higher for a fifth session in a row, a period in which it rose 2.20 per cent.
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