Mumbai: The benchmark BSE Sensex propelled by a rally in Chinese stocks and overnight gains in the US, vaulted 258 points to close at 25,963.97, its highest close in over two weeks, ahead of the US Fed meeting. The broader NSE Nifty took back the 7,900-mark during the session. All eyes are now on the crucial two day US Federal Reserve meeting starting today, where the rate-setters are going to take a call on raising the borrowing costs for the first time in almost a decade. Sentiment remained upbeat as investors are hopeful that the Reserve Bank would cut rate for the fourth time this year at its policy review on September 29, after data showed retail inflation easing to 3.66 per cent in August, much below the RBI’s guidance level. In line with domestic equities, the rupee also wiped off most of its early losses to trade almost flat at 66.36 (intra-day) against the dollar. After opening in the positive zone, the 30-share Sensex barometer rose further to regain the 26,000-level and hit a high of 26,006.75 in afternoon trade. But it failed to sustain momentum due to profit-booking at higher levels and slumped to 25,816.50, before settling higher by 258.04 points, or 1 per cent, at 25,963.97, its highest closing since August 31. The gauge had retreated from a two-week high by losing 150.77 points in the previous trading session yesterday. Also, the 50-issue NSE Nifty after reclaiming 7,900-level advanced to hit the day’s high of 7,913.90, before closing at 7,899.15, up 70.05 points, or 0.89 per cent. The banking sectoral index advanced the most by surging 1.42 per cent, followed by power, healthcare, technology, auto and IT. Bharti Airtel showed the way, up 2.48 per cent, to close at Rs. 359.10. Drug major Sun Pharma surged 2.38 per cent to Rs 887.35 after the company got into an agreement with InSite Vision to acquire the US-based eyecare firm. Other prominent gainers were Axis Bank, Vedanta, Hero MotoCorp, Bajaj Auto and Wipro. Overall, 26 out of the 30-share Sensex team rose. However, BSE small-cap and mid-cap indices ended up to 0.44 per cent lower. Meanwhile, foreign portfolio investors (FPIs) sold net Rs. 910.85 crore worth of shares yesterday, according to provisional exchange data. Stock exchanges will remain closed tomorrow on account of Ganesh Chaturthi. Globally, the Shanghai Composite index closed 4.89 per cent higher and Hong Kong’s Hang Seng surged 2.38 per cent while Japan’s Nikkei ended 0.81 per cent higher. European markets were also in the positive terrain in early trade, ahead of the two-day US Federal Reserve policy meet.
Mumbai: The benchmark BSE Sensex jumped over 207 points to 25,913.14 in early trade on Wednesday on across-the-board buying and tracking rally in global markets. The 30-share index, which had lost 150.77 points in the previous session, was up 207.21 points, or 0.80 per cent, to 25,913.14. The Nifty too soared 53.20 points, or 0.68 per cent, to 7,882.30. Among other Asian markets, Japan’s Nikkei surged 0.97 per cent and Hong Kong’s Hang Seng was up 1.08 per cent while the Shanghai Composite index edged up 0.15 per cent in early trade. The US Dow Jones Industrial Average ended 1.40 per cent higher in Tuesday’s trade.
Mumbai: The benchmark BSE Sensex on Tuesday retreated from a two-week high by falling over 150 points to 25,705.93 on weak global cues ahead of the US Fed rate decision on Thursday. Sentiment took a hit largely on a weak trend at other Asian markets, with the Shanghai Composite index breaking below the symbolic 3,000-mark, which contributed to the fall. The 30-share BSE index after shuttling between 25,909.83 and 25,649.37 during the session finally settled lower by 150.77 points, or 0.58 per cent, at 25,705.93. The gauge had gained 246.49 points in yesterday’s session. The NSE Nifty too edged lower by 43.15 points, or 0.55 per cent, to end at 7,829.10. Intra-day, it cracked the 7,800-mark to touch a low of 7,799.75 and a high of 7,880.00. Tata Steel suffered the most among Sensex constituents by falling 5.08 per cent, followed by Vedanta (4.06 per cent). Others that declined include Tata Motors, L&T, Hindalco, Axis Bank, M&M and Hero MotoCorp, among others. Bucking the trend, Maruti Suzuki ended 0.25 per cent higher at Rs 4,330.95 after the Reserve Bank allowed foreign investors to pump in up to 40 per cent of the paid-up capital in the company. Intra-day, it soared to the day’s high of Rs. 4,415.70. Other gainers were Sun Pharma, ITC, Hind Unilever, NTPC, RIL, Lupin and ONGC, which helped indices recover a bit from the session’s lows. Of the 30 Sensex stocks, 23 ended lower while 7 ended in the positive zone. In line with the overall trend, selling pressure also emerged in the broader market, with mid-cap and small-cap indices falling up to 0.77 per cent. Sectorally, the BSE Metal index fell the most by losing 2.34 per cent, followed by capital goods, auto, consumer durables and bankex. Foreign Portfolio Investors (FPIs) net bought shares worth Rs. 58.75 crore on Monday, as per provisional data. On the global front, Shanghai Composite fell 3.52 per cent while Hong Kong’s Hang Seng shed 0.49 per cent.
Mumbai: The benchmark BSE Sensex fell close to 55 points in early trade on Tuesday on profit-booking by investors despite positive macroeconomic data points. A mixed trend at other Asian markets as investors turned cautious ahead of the US Fed rate decision later this week weighed. The 30-share barometer, which had gained 246.49 points in yesterday’s session, was trading down 54.91 points, or 0.21 per cent, at 25,801.79, with metal, banking, auto and power sector stocks leading the losses. On similar lines, the NSE Nifty shed 27.15 points, or 0.34 per cent, at 7,845.10. Brokers said sentiment turned somewhat weak as investors booked profits after yesterday’s gains even as retail inflation fell to a new low of 3.66 per cent in August, which may prompt the Reserve Bank to cut rates at its September 29 policy meet. Among other Asian markets, Hong Kong’s Hang Seng was down 0.27 per cent while Shanghai’s Composite index fell 2.42 per cent, but Japan’s Nikkei was up 1.33 per cent in early trade. The US Dow Jones Industrial Average ended 0.38 per cent lower in yesterday’s trade.
Mumbai: Buoyed by renewed hopes of a policy rate cut, the BSE Sensex on Monday made a spirited comeback, gaining over 246 points to close at 25,856.70 — a two—week high — on back of a further contraction in Wholesale Price Index (WPI) numbers for August and better-than-expected IIP for July. Rate-sensitive realty and banking stocks fuelled the rally as the rupee’s slide saw a pause. The rupee was trading 22 paise higher at 66.32 (intra-day) against the dollar. The broader NSE Nifty too retook the 7,800-level to hit a high of 7,879.95 before settling at 7,872.25, up 82.95 points, or 1.06 per cent. Intra-day, it slipped into the red to hit a low of 7,761.85. The latest set of macroeconomic data following better-than-estimated IIP numbers for July and a further fall in WPI, which raised hopes of a possible rate reduction from the Reserve Bank of India in its policy later this month, influenced trading sentiment, brokers said. Sentiments also got a boost after Finance Minister Arun Jaitley on Monday assured global investors of the “fairest and predictable taxation regime” as he invited them to invest in various sectors, including infrastructure, manufacturing and defence. The 30-share gauge scaled the day’s high of 25,891.73, before ending 246.49 points, or 0.96 per cent higher at 25,856.70, its highest closing since August 31. Intra-day, it slipped into the negative zone to touch a low of 25,531.07. The gauge had lost 109.37 points in the past two straight sessions. Both the key indices — the Sensex and the NSE Nifty — ended at their two-week highs. Metal stocks were back in the limelight after the Board of Safeguards upheld the recommendation of the Directorate General of Safeguards (DGS) for imposition of a 20 per cent safeguards duty on certain steel products to protect interests of the domestic industry. In the metal space, Vedanta, Tata Steel and Hindalco were major gainers, rising up to 4.02 per cent. Globally, other Asian markets ended mixed on Monday as Shanghai led most regional markets down after another round of disappointing Chinese data at the weekend while European stocks were ruling higher ahead of this week’s US Federal Reserve decision on interest rates. NTPC was one of the top gainers (up 5.06 per cent) while Axis Bank, Wipro, GAIL and SBI, among others, too advanced. Among the 30 Sensex components, 28 advanced, while Bajaj Auto and Maruti ended in the red. Sector-wise, the BSE metal index rose the most by surging 2.70 per cent, followed by power, banking, PSU and realty. Buying activity by retail investors also spread to mid-cap and small-cap stocks, which ended higher with gains up to 1.27 per cent. Foreign portfolio investors (FPIs) net sold Rs 754.27 crore worth of shares last Friday, provisional exchange data showed.
Mumbai: The benchmark BSE Sensex rebounded over 96 points to 25,706.87 in early trade on Monday, reversing its two-day losing trend on the back of positive IIP numbers for July. Besides, a firming trend at other Asian markets buoyed sentiment. The 30-share barometer recovered 96.66 points, or 0.38 per cent, to 25,706.87, with stocks of realty, power, capital goods and PSU sectors leading the recovery. The gauge had lost 109.37 points in the previous two straight sessions. The NSE index Nifty recaptured the 7,800-level by recovering 21.80 points, or 0.27 per cent, at 7,811.10. Among other Asian markets, Hong Kong’s Hang Seng was up 0.81 per cent while Japan’s Nikkei was trading 0.42 per cent higher in early trade. China’s Shanghai Composite index rose 0.65 per cent.
Mumbai: The Bombay Stock Exchange will launch multi-legged order entry facility for its currency derivative segment from tomorrow. The facility enables a trader to place a combination order comprising more than one order across different derivative contracts. The exchange has informed its trading members that the multi-legged order entry facility in the currency derivatives segment will come into effect from Monday, September 14. A multi-legged order can contain a minimum of two order legs and a maximum of four. According to the bourse, the facility can be used by traders to execute trades across different futures and options contracts, up to four order legs at the same time. BSE, last week, introduced a roll-over facility in its securities lending and borrowing scheme, a move that will increase participation in such market.
Mumbai: The benchmark BSE Sensex recovered over 204 points in early trade on Friday on buying in select blue-chip stocks ahead of IIP and inflation data to be released later in the day amid mixed global cues. The 30-share index rose by 204.65 points or 0.80 per cent at 25,826.82 in early trade. All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent. The gauge had lost 97.41 points in Thursday’s volatile session. The National Stock Exchange index Nifty scaled the 7,800-mark by surging 66.20 points, or 0.85 per cent, to 7,854.30. Stock brokers said fresh positions created by participants ahead of key economic data — industrial production (IIP) numbers for July and consumer price inflation (CPI) for August — to be released later in the day, contributed to the rise. Moreover, a mixed trend at other Asian bourses and overnight gains on the US markets, positively impacted sentiments, they added. Among Asian markets, China’s main Shanghai Composite Index fell 0.09 per cent, Hong Kong’s Hang Seng up 0.68 per cent while Japan’s Nikkei shed 0.05 per cent in morning trade on Friday. The US Dow Jones Industrial Average ended 0.47 per cent higher in Thursday’s trade.