Stock Market : Closing Bell

Closing bell: Frontline indices plummet with Nifty Bank among the top losers | 17th Januar, 2024

On Wednesday, the Indian Frontline indices concluded the trading day on a negative note while Nifty Bank underperformed the most, dragged by HDFC Bank’s Q3FY24 results.

Major Indices Performance:
On Wednesday, the Indian Frontline indices concluded the trading day on a negative note while Nifty Bank underperformed the most, dragged by HDFC Bank’s Q3FY24 results. The Sensex substantially declined by 2.23%, concluding at 71,500.76 level, while the Nifty also plummeted by 2.09%, closing at 21,571.95 level. Similarly, Nifty Bank experienced major decline of 4.28%, closing at 46,064.45. Additionally, the trend continued in the broader market with Nifty Midcap substantially declining by 1.08%, while Nifty Smallcap plummeted by 1.2%.

Sectoral Performance:
Within the sectoral landscape, Nifty IT was the only major sector which was trading positively while Nifty Bank, Nifty Financial Services, Nifty Metal and Nifty PSU Bank were among the top losers.

Top Gainers and Losers:
Among the Nifty 50, HCL Technologies stood out as the leading gainer with an impressive surge of over 1%, followed by SBI Life, LTIMindtree and TCS. Conversely, HDFC Bank, Tata Steel, Kotak Bank and Hindalco found themselves among the top losers.

Broader Markets:
In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Rail Vikas Nigam, Indian Railway Finance Corporation, Cochin Shipyard and Housing & Urban Development Corporation registered substantial gains, standing among the top gainers. On the flip side, Steel Authority of India, Macrotech Developers, Indian Energy Exchange and Easy Trip Planners have witnessed major declines, ranking among the top losers.

Fitch Affirms India’s ‘BBB-’ Rating with Stable Outlook:
Fitch Ratings has maintained India’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-’ with a stable outlook. The agency, in its statement released on January 16, highlighted India’s position as one of the fastest-growing countries globally in the coming years.

However, Fitch noted a potential increase in uncertainty regarding the fiscal path beyond FY24, emphasizing the trade-offs between economic growth and consolidation. The ratings agency has also adjusted its growth forecast for India, anticipating a growth rate of 6.9 percent for the fiscal year ending March 2023, up from the previous forecast of 6 percent in May of the previous year. Nevertheless, it anticipates a slight easing in GDP growth to 6.5 percent in fiscal year 2024-25.

Oil Prices:
Oil prices exhibited volatility on Tuesday as investors assessed the impact of Middle East tensions amidst a stronger dollar and tempered expectations of U.S. interest rate cuts.

Brent crude futures inched up by 16 cents, or 0.2%, reaching $78.31 per barrel. Although the contract had surged more than $1 above its Monday settlement earlier in the session, US West Texas Intermediate crude experienced a decline of 27 cents, or 0.37%, from Friday, settling at $72.41 per barrel.

Geopolitical concerns, including an escalating shipping crisis in the Red Sea and Iranian missile strikes on targets in Syria and Iraq, contributed to the oil price’s geopolitical risk premium on Tuesday. However, the potential for prices to rise further may be limited unless there is a production shutdown.

NSE Advance/Decline Ratio:
The broader market sentiment presents a nuanced trend, with 523 advancing stocks compared to 1711 declining stocks, signalling a pessimistic sentiment in the broader market.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell: Frontline indices plunged with Nifty Financial Services among the top losers | 18th January, 2024

On Thursday, the Indian Frontline indices concluded the trading day on a negative note while the broader indices also underperformed.

Major Indices Performance:
On Thursday, the Indian Frontline indices concluded the trading day on a negative note while broader indices also marginally underperformed after a major recovery of around 2.5% from the day’s low. The Sensex moderately declined by 0.44%, concluding at 71,186.86 level, while the Nifty also plummeted by 0.51%, closing at 21,462.25 level. Similarly, Nifty Bank experienced a decline of 0.76%, closing at 45,713.55. Additionally, the trend continued in the broader market with Nifty Midcap marginally declining by 0.11%, while Nifty Smallcap plummeted by 0.18%.

Sectoral Performance:
Within the sectoral landscape, Nifty Pharma, Nifty PSU Bank, Nifty Realty and Nifty Auto were among the top gainers while Nifty Financial Services, Nifty Metal, Nifty Energy and Nifty Bank were among the top losers.

Top Gainers and Losers:
Among the Nifty 50, Sun Pharma stood out as the leading gainer with an impressive surge of over 2.5%, followed by Cipla, Tech Mahindra and Tata Motor. Conversely, LTIMindtree, HDFC Bank, NTPC and Titan found themselves among the top losers.

Broader Markets:
In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Apollo Tyres, Tata Communications, Suzlon Energy and Ceat Ltd registered substantial gains, standing among the top gainers. On the flip side, Mphasis, Ipca Laboratories, Indian Energy Exchange and RBL Bank have witnessed major declines, ranking among the top losers.

Government Initiates Stake Sale in NHPC: 3.5% at Rs 66 per Share:
On January 18, the government announced its intention to sell a 3.5% stake in power producer NHPC through an Offer for Sale (OFS) at a floor price of Rs 66 per share, aiming to generate Rs 2,300 crore for the exchequer. The OFS opens for non-retail investors on Thursday, with retail investors eligible to bid on Friday. The government plans to divest over 25 crore equity shares, with an additional option to sell 10 crore more under the Greenshoe provision. The floor price represents a 9.66% discount to NHPC’s closing price on Wednesday, concluding at Rs 73.06 per share on the BSE.

Oil Prices:
On Wednesday, oil experienced a decline of more than $1, influenced by China, the second-largest crude user, reporting economic growth slightly below expectations. This development raised apprehensions about future demand, aggravated by the strength of the U.S. dollar, which dampened investors’ risk appetite.

Brent crude futures witnessed a drop of $1.23, equivalent to 1.57%, settling at $77.06 per barrel. Similarly, U.S. West Texas Intermediate crude futures (WTI) declined by 92 cents, or 1.27%, reaching $71.48.

Despite ongoing naval and air conflicts in the Red Sea, oil failed to find support. Concerns about tankers needing to pause or reroute, leading to increased shipping costs and delayed deliveries, did not have the expected impact.

The fourth-quarter expansion of China’s economy, reported at 5.2% year-on-year, fell short of analysts’ expectations. This outcome raised doubts about forecasts anticipating Chinese demand to drive global oil growth in 2024.

NSE Advance/Decline Ratio:
The broader market sentiment presents a nuanced trend, with 952 advancing stocks compared to 1272 declining stocks, signalling a pessimistic sentiment in the broader market.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell: Frontline indices soared with Nifty Metal among the top gainers | 19th January, 2024

On Friday, the Indian Frontline indices concluded the trading day on a positive note while, broader indices also outperformed, erasing previous session losses.

Major Indices Performance:
On Friday, the Indian Frontline indices concluded the trading day on a positive note while, broader indices also outperformed, erasing previous session losses. The Sensex moderately surged by 0.7%, concluding at 71,683.23 level, while the Nifty also soared by 0.75%, closing at 21,622.40 level. Whereas Nifty Bank experienced a decline of 0.03%, closing at 45,701.15. Additionally, the positive momentum continued in the broader market with Nifty Midcap marginally surging by 1.52 %, while Nifty Smallcap soared by 1.09%.

Sectoral Performance:
Within the sectoral landscape, Nifty Metal, Nifty FMCG, Nifty Energy and Nifty PSU Bank were among the top gainers while Nifty Media and Nifty Bank were among the top losers.

Top Gainers and Losers:
Among the Nifty 50, ONGC stood out as the leading gainer with an impressive surge of over 3.5%, followed by Bharti Airtel, NTPC and Tech Mahindra. Conversely, IndusInd Bank, HDFC Bank, Kotak Bank and Divi’s Laboratories found themselves among the top losers.

Broader Markets:
In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Rail Vikas Nigam, Indian Railway Finance Corporation, Housing & Urban Development Corporation and NBCC (India) registered substantial gains, standing among the top gainers. On the flip side, Zee Entertainment, Dixon Technologies, Suzlon India and Chambal Fertilizers have witnessed major declines, ranking among the top losers.

IndusInd Bank Q3 Net Profit Surges 17% to Rs 2,301 Crore, Maintains Robust Asset Quality:
Private sector lender IndusInd Bank announced a net profit of Rs 2,301 crore for the October-December quarter of FY 2023-24, marking a substantial 17.1% increase from the previous year. The bank’s gross non-performing asset (NPA) dropped to 1.92%, compared to 2.06% in the same quarter last year. Additionally, Net Interest Income for the quarter reached Rs 5,296 crores, reflecting an 18% YoY growth and a 4% QoQ increase.

Oil Prices:
Oil prices closed higher on Thursday following optimistic global oil demand forecasts from both the International Energy Agency (IEA) and OPEC. Disruptions in US crude output due to cold winter weather, coupled with a substantial weekly draw in crude inventories, further contributed to the upward trend.

Additionally, concerns about geopolitical tensions in the Middle East intensified as Pakistan conducted strikes inside Iran. Brent crude futures rose by $1.22 (1.6%) to $79.10 per barrel, and US West Texas Intermediate crude futures increased by $1.52 (2%) to $74.08.

NSE Advance/Decline Ratio:
The broader market sentiment presents a nuanced trend, with 1538 advancing stocks compared to 667 declining stocks, signalling an optimistic sentiment in the broader market.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell: Frontline indices plummeted as HDFC Bank and Reliance dragged them lower | 23rd January, 2024

On Tuesday, the Indian Frontline indices concluded the trading day on a negative note while broader indices substantially underperformed.

Major Indices Performance:
On Tuesday, the Indian Frontline indices concluded the trading day on a negative note while broader indices substantially underperformed. The Sensex significantly plunged by 1.47%, concluding at 70,370.55 level, while the Nifty also plummeted by 1.54%, closing at 21,238.80 level.

Additionally, Nifty Bank experienced a major decline of 2.26%, closing at 45,015.05. Similarly, this trend was magnified in the broader market as Nifty Midcap significantly declined by 3.11 %, while Nifty Smallcap plummeted by 2.87%.

Sectoral Performance:
Within the sectoral landscape, Nifty Pharma was the only major sector, which was trading positively while, Nifty Media, Nifty Realty, Nifty PSU Bank, and Nifty Metal were among the top losers.

Top Gainers and Losers:
Among the Nifty 50, Cipla stood out as the leading gainer with an impressive surge of over 7%, followed by Sun Pharma, Bharti Airtel, and ICICI Bank. Conversely, IndusInd Bank, Coal India, ONGC, and Adani Ports found themselves among the top losers.

Broader Markets:
In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Petronet LNG, Persistent Systems, Karur Vysya Bank and Global Health registered substantial gains, standing among the top gainers. On the flip side, Zee Entertainment, Prestige Estates, Housing & Urban Development Corporation, and Rites have witnessed major declines, ranking among the top losers.

Sony Abandons $10 Billion Merger with Zee in India, stock plummets by 30%:
Sony Group Corp. has officially communicated its decision to terminate the $10 billion merger with Zee Entertainment Enterprises Ltd., ending a two-year acquisition saga. The Japanese entertainment giant cited unmet conditions as the reason for the termination, leaving Zee exposed to competition challenges as its rivals strengthened their positions. The stalemate, particularly regarding Zee’s CEO Punit Goenka’s leadership in the merged entity amid regulatory investigations, has effectively scuttled the deal.

Airtel Greenlights Bharti Hexacom IPO, Govt to Divest 20% Stake through OFS:
Bharti Airtel’s board has given the green signal for the initial public offering (IPO) of its subsidiary, Bharti Hexacom, as announced in a regulatory filing on January 20. With a 70% stake in Bharti Hexacom, Bharti Airtel plans to divest a 20% stake through an offer-for-sale (OFS) of 10 crore equity shares, each with a face value of Rs 5. The Government of India currently holds the remaining 30% stake in Bharti Hexacom.

Oil Prices:
Oil prices climbed approximately 2% on Monday due to apprehensions about global energy supplies triggered by a Ukrainian drone strike on Russia’s Novatek fuel terminal. Additionally, extreme cold weather persisted, disrupting US crude production. Brent March crude futures concluded at $80.06 per barrel, marking a gain of $1.50, or 1.9%.

NSE Advance/Decline Ratio:
The broader market sentiment presents a nuanced trend, with 1538 advancing stocks compared to 667 declining stocks, signalling an optimistic sentiment in the broader market.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing Bell - 25th Jan
Frontline plummet with Nifty IT among the top losers!

On Thursday, the Indian Frontline indices concluded the trading day on a negative note while, broader indices showed a mixed performance.

Major Indices Performance:

On Thursday, the Indian Frontline indices concluded the trading day on a negative note while, broader indices showed a mixed performance. The Sensex moderately plunged by 0.51%, concluding at 70,700.67 level, while the Nifty also plummeted by 0.47%, closing at 21,352.60 level. Additionally, Nifty Bank also experienced a moderate decline of 0.48%, closing at 44,866.15. Furthermore, the broader market showed a mixed performance as Nifty Midcap plunged by 0.45%, whereas Nifty Smallcap surged by 0.5%.

Sectoral Performance:

Within the sectoral landscape, Nifty Energy recorded a significant gain of over 0.8%, followed by Nifty Realty, Nifty Media and Nifty Metal, while Nifty IT, Nifty Pharma, Nifty FMCG and Nifty Financial Services were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Bajaj Auto stood out as the leading gainer with an impressive surge of over 5%, followed by Adani Ports, NTPC and Coal India. Conversely, Tech Mahindra, Cipla, Bharti Airtel and LTIMindtree found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, ACC, Fertilizers & Chemicals Travancore, Rites and NBCC (India) registered substantial gains, standing among the top gainers. On the flip side, Balkrishna Industries, Indraprastha Gas, PNB Housing Finance and KEI Industries have witnessed major declines, ranking among the top losers.

Bajaj Auto Registers 37% YoY Growth in Q3FY24 Net Profit, Reaches Rs 2,042 Crore:

Bajaj Auto Ltd announced a notable 37% year-on-year surge in net profit for the third quarter of FY24, reaching Rs 2,041.88 crore. This growth was primarily fuelled by robust sales of its two-wheelers, strategic price adjustments, and increased realizations amidst sustained demand. In comparison, the company’s profit after tax (PAT) for the same period last year was recorded at Rs 1,491.42 crore.

Benefiting from a more favourable product mix tilted towards premium vehicles, resulting in higher average selling prices (ASPs), the Pune-based automotive giant witnessed a substantial 30% rise in revenue, reaching Rs 12,113.51 crore during the October-December 2023 period. This marks a significant increase from its turnover of Rs 9,315 crore reported in Q3FY23.

Oil Prices:

On Wednesday, oil prices surged by approximately 1%, reaching a four-week high, fuelled by a more significant than anticipated withdrawal in US crude storage, a decline in US crude production, economic stimulus in China, geopolitical tensions, and a weakened US dollar.

Brent futures saw an increase of $1.03, equivalent to 1.3%, settling at $80.58 per barrel. US West Texas Intermediate (WTI) crude experienced a rise of $1.31, or 1.8%, reaching $75.68.

Brent was poised for its highest settlement since December 26, and WTI was on track for its highest since November 30. US diesel and gasoline futures were also heading towards their highest closures in weeks.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1193 advancing stocks compared to 1034 declining stocks, signalling a slight optimistic sentiment in the broader market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell 29 Jan: Frontline surge amidst pre-budget spike in volatility

On Monday, the Indian Frontline indices concluded the trading day on a positive note while, broader indices also showed resilience.

Major Indices Performance:

On Monday, the Indian Frontline indices concluded the trading day on a positive note while, broader indices also showed resilience. The Sensex substantially surged by 1.76%, concluding at 71,941.57 level, while the [Nifty](https://nifty 50 Share Price Today - Nifty 50 Index Live Charts | Angel One) also soared by 1.8%, closing at 21,737.60 level. Additionally, Nifty Bank also experienced a significant gain of 1.28%, closing at 45,442.35 level. Furthermore, in the broader market, Nifty Midcap surged by 1.63%, while Nifty Smallcap soared by 1.49%.

Sectoral Performance:

Within the sectoral landscape, Nifty Energy recorded a significant gain of over 5%, followed by Nifty PSU Bank, Nifty Auto and Nifty Metal, while Nifty Media and Nifty FMCG were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, ONGC stood out as the leading gainer with an impressive surge of over 7.5%, followed by Reliance, Coal India and Adani Enterprises. Conversely, Cipla, ITC and LTIMindtree found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Power Finance Corporation, Delhivery, IRB Infrastructure Developers and NMDC Steel registered substantial gains, standing among the top gainers. On the flip side, AU Small Finance Bank, Devyani International, Ceat and Tanla Platforms have witnessed major declines, ranking among the top losers.

European Central Bank maintains status quo on interest rates:

On Thursday, the European Central Bank opted to keep borrowing costs unchanged, despite a decrease in inflation, suggesting it was premature to contemplate rate reductions. This marks the third consecutive pause since October, maintaining the ECB’s benchmark deposit rate at a historic high of four %, established during a series of hikes aimed at curbing post-war inflation following the conflict in Ukraine.

Although widely anticipated, the decision comes amid a gradual slowdown in inflation and economic growth in the eurozone, prompting speculation about potential rate cuts in the future. The ECB’s governing council reiterated its belief that current rates, if sustained over a sufficient period, would significantly contribute to achieving the target inflation rate of 2%.

Oil Prices:

On Monday, oil prices surged by 1% due to apprehensions regarding fuel supply following a missile attack on a fuel tanker operated by Trafigura in the Red Sea. Additionally, concerns arose over a potential decrease in Russian refined products exports due to multiple refineries undergoing repairs following drone attacks.

Brent crude futures rose by 83 cents to $84.38 a barrel, peaking at $84.80 during the session. US West Texas Intermediate crude increased by 78 cents to $78.79 a barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1411 advancing stocks compared to 817 declining stocks, signalling an optimistic sentiment in the broader market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell: Frontline indices plummet while Nifty Smallcap outperforms!

On Tuesday, the Indian Frontline indices concluded the trading day on a negative note while, broader indices showed a mixed performance.

Major Indices Performance:

On Tuesday, the Indian Frontline indices concluded the trading day on a negative note while, broader indices showed a mixed performance. The Sensex substantially plunged by 1.11%, concluding at 71,139.90 level, while the Nifty also plummeted by 0.99%, closing at 21,522.10 level. Similarly, Nifty Bank also experienced a marginal decline of 0.16%, closing at 45,367.75 level. Furthermore, in the broader market, Nifty Midcap declined by 0.39%, while Nifty Smallcap soared by 0.23%.

Sectoral Performance:

Within the sectoral landscape, Nifty PSU Bank recorded a significant gain of over 0.9%, followed by Nifty Media, Nifty Realty and Nifty Metal, while Nifty Energy, Nifty FMCG, Nifty Pharma and Nifty Financial Services were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, BPCL stood out as the leading gainer with an impressive surge of over 2%, followed by Tata Motors, Grasim and Eicher Motors. Conversely, Bajaj Finance, Titan, Ultratech Cement and Bajaj Finserv found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Zee Entertainment, Syngene International, IRB Infrastructure Developers and APAR Industries registered substantial gains, standing among the top gainers. On the flip side, Coromandel International, Tube Investment of India, Jubilant Ingrevia and KEI Industries have witnessed major declines, ranking among the top losers.

Bajaj Finance Reports Strong Q3 Performance:

Bajaj Finance recorded a 22% surge in its net profit to Rs 3,639 crore for the October-December quarter, as reported on January 29. This figure aligns closely with market expectations. The non-bank lender’s net interest income for the same quarter rose to Rs 7,655 crore, marking a 29% increase year-on-year. Additionally, the Assets Under Management (AUM) expanded by 35% to Rs 3.11 lakh crore by December 31, 2023, compared to Rs 2.31 crore in the corresponding period last year, with a Q3FY24 growth of Rs 20,704 crore.

Oil Prices:

On Monday, oil prices experienced a decline of over one dollar per barrel due to concerns over China’s struggling property sector, prompting traders to reconsider the supply risk premium stemming from increasing tensions in the Middle East.

Brent crude futures dipped by $1.15, equivalent to a 1.4% decrease, settling at $82.40 per barrel, while US West Texas Intermediate crude futures saw a drop of $1.23, or 1.6%, reaching $76.78 per barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1047 advancing stocks compared to 1178 declining stocks, signalling a slight pessimistic sentiment in the broader market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell 31st Jan: Frontline indices surge with Nifty Pharma among the top gainers!

On Wednesday, the Indian Frontline indices concluded the trading day on a positive note while, broader indices showed significant gains.

Major Indices Performance:

On Wednesday, the Indian Frontline indices concluded the trading day on a positive note while, broader indices showed significant gains. The Sensex surged by 0.86%, concluding at 71,752.11 level, while the Nifty also soared by 0.95%, closing at 21,725.70 level. Similarly, Nifty Bank also experienced a significant gain of 1.39%, closing at 45,996.80 level. Furthermore, in the broader market, Nifty Midcap soared by 1.63%, while Nifty Smallcap surged by 2.25%.

Sectoral Performance:

Within the sectoral landscape, Nifty Pharma recorded a significant gain of over 2.5%, followed by Nifty Realty, Nifty PSU Bank and Nifty Auto, while there were no major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, Dr Reddy’s Laboratories stood out as the leading gainer with an impressive surge of over 4.5%, followed by Eicher Motors, Sun Pharma and Divi’s Laboratories. Conversely, L&T, Titan, Tata Consumer and BPCL found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, PB Fintech, Voltas, Welspun Living and UCO Bank registered substantial gains, standing among the top gainers. On the flip side, Indus Towers, Mankind Pharma, Kalyan Jewellers and Jyothy Labs have witnessed major declines, ranking among the top losers.

IMF Upgrades India’s GDP Growth Forecasts for FY25 and FY26 to 6.5%:

The International Monetary Fund (IMF) has revised its GDP growth projections for India upward for the fiscal years 2024-25 and 2025-26. The latest forecast indicates a growth rate of 6.5%, up by 20 basis points compared to previous estimates. Despite this positive adjustment, the IMF’s projections still fall slightly below the expectations of Indian authorities. For the fiscal year 2023-24, the IMF maintains a growth forecast of 6.7%, slightly higher than the revised figures for the subsequent years.

Oil Prices:

On Tuesday, oil prices increased due to a heightened global economic growth projection and escalating tensions in the Middle East, counterbalancing worries regarding Chinese demand.

The March Brent crude futures, set to expire on Wednesday, saw a rise of 47 cents, settling at $82.87 a barrel. Meanwhile, the April contract, which is more actively traded, closed up by 67 cents at $82.50. Additionally, US West Texas Intermediate crude settled up by $1.04, or 1.35%, at $77.82.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1572 advancing stocks compared to 656 declining stocks, signaling an optimistic sentiment in the broader market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell: Frontline indices plummet post FY24-25 Union Budget!

On Thursday, the Indian Frontline indices concluded the trading day on a negative note while, broader indices showed mixed performance, post FY24-25 Union Budget.

Major Indices Performance:

On Thursday, the Indian Frontline indices concluded the trading day on a negative note while, broader indices showed mixed performance, post FY24-25 Union Budget. The Sensex plunged by 0.18%, concluding at 71,645.30 level, while the Nifty also declined by 0.13%, closing at 21,697.45 level. Similarly, Nifty Bank also experienced a moderate gain of 0.42%, closing at 46,188.65 level. Furthermore, in the broader market, Nifty Midcap plummeted by 0.56%, while Nifty Smallcap surged by 0.63%.

Sectoral Performance:

Within the sectoral landscape, Nifty PSU Bank recorded a significant gain of over 3%, followed by Nifty Auto, Nifty Energy and Nifty Bank, while Nifty Media, Nifty Metal, Nifty Realty and Nifty Pharma were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Maruti stood out as the leading gainer with an impressive surge of over 4%, followed by Cipla, Power Grid and Eicher Motors. Conversely, Ultratech Cement, L&T, Grasim and Dr Reddy’s Laboratories found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Motherson Sumi Wiring India, Indian Bank, Housing & Urban Development Corporation and NBCC (India) registered substantial gains, standing among the top gainers. On the flip side, One 97 Communications, Aurobindo Pharma, Deepak Fertilizers & Petrochemicals Corp and Rites have witnessed major declines, ranking among the top losers.

FY25 Budget Overview: Driving Economic Growth and Fiscal Discipline

The FY25 budget outlines strategic measures to bolster economic resilience and fiscal prudence. With a reduced gross borrowing estimate of Rs 14.13 trillion compared to the previous fiscal year, the government aims to manage debt levels effectively. Prioritizing research, initiatives are underway to enhance self-sufficiency in indigenous oilseeds, addressing the country’s dependence on cooking oil imports.

Fiscal discipline is emphasized with an aggressive target, setting the FY25 fiscal deficit at 5.1%. Additionally, the budget introduces a housing scheme for the middle class and extends healthcare coverage under the Ayushman Bharat scheme. Efforts to boost farmers’ income and promote private investment in post-harvest activities underscore the government’s commitment to inclusive growth. While tax rates remain unchanged, certain benefits are extended to start-ups and IFSC units until March 2025, providing targeted support for key sectors.

Oil Prices:

On Wednesday, oil prices closed lower due to subdued economic activity in China, a major importer of crude, and an unexpected increase in US crude inventories as producers boosted output following severe weather conditions earlier in the month.

March Brent crude futures, expiring on Wednesday, settled at $81.71 per barrel, down $1.16 or approximately 1.4%, while the more actively traded April contract concluded at $80.55, down $1.89 or around 2.3%.

US West Texas Intermediate crude futures finished at $75.85, down $1.97 or roughly 2.5%. Both benchmarks experienced declines of over $2 per barrel earlier during the trading session.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 963 advancing stocks compared to 1283 declining stocks, signalling a pessimistic sentiment in the broader market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell: Frontline indices surge with Nifty Energy among the top gainers!

On Friday, the Indian Frontline indices concluded the trading day on a positive note while, broader indices also experienced moderate gains.

Major Indices Performance:

On Friday, the Indian Frontline indices concluded the trading day on a positive note while, broader indices also experienced moderate gains. The Sensex surged by 0.61%, concluding at 72,085.64 level, while the Nifty soared by 0.72%, closing at 21,853.80 level. Whereas Nifty Bank experienced a moderate decline of 0.42%, closing at 45,970.95 level. Furthermore, in the broader market, Nifty Midcap surged by 0.37%, while Nifty Smallcap soared by 0.93%.

Sectoral Performance:

Within the sectoral landscape, Nifty Energy recorded a significant gain of over 3%, followed by Nifty Metal, Nifty PSU Bank and Nifty IT, while Nifty Bank, Nifty Financial Services and Nifty FMCG were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, BPCL stood out as the leading gainer with an impressive surge of over 9%, followed by Power Grid, ONGC and Adani Ports. Conversely, Eicher Motors, Axis Bank, HDFC Life and HDFC Bank found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, NHPC, Aditya Birla Capital, NBCC (India) and SJVN registered substantial gains, standing among the top gainers. On the flip side, One 97 Communications, Max Healthcare Insurance, HFCL and Bikaji Foods International have witnessed major declines, ranking among the top losers.

Bank of England Maintains Interest Rate at 5.25%:

The Bank of England opted to maintain its benchmark interest rate at 5.25% on Thursday, aligning with the policy stance of the US Federal Reserve. Despite inflationary pressures, the BoE refrained from cutting borrowing costs, marking the fourth consecutive meeting without a change. This decision, announced after the regular policy meeting, keeps the rate at its highest level in 16 years.

Oil Prices:

Oil prices declined over 2% on Thursday following unverified reports of a ceasefire between Israel and Hamas, coupled with a power outage that led to the closure of a significant US refinery.

While a Qatari official denied an actual ceasefire, stating that Hamas had positively received a ceasefire proposal earlier in the week, Brent crude futures fell by $1.85 (2.5%) to settle at $78.70 a barrel, and US West Texas Intermediate crude futures dropped by $2.03 (2.7%) to $73.82.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1249 advancing stocks compared to 991 declining stocks, signalling an optimistic sentiment in the broader market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing Bell - Feb 05, 2024 | Frontline indices plummet while Nifty Pharma surges!

Major Indices Performance:

On Monday, the Indian Frontline indices concluded the trading day on a negative note while, broader indices experienced mixed performance. The Sensex plunged by 0.49%, concluding at 71,731.42 level, while the Nifty plummeted by 0.38%, closing at 21,771.70 level. Whereas Nifty Bank experienced a moderate decline of 0.32%, closing at 45,825.55 level. Furthermore, in the broader market, Nifty Midcap plunged by 0.14%, while Nifty Smallcap soared by 0.26%.

Sectoral Performance:

Within the sectoral landscape, Nifty Pharma recorded a significant gain of over 1.5%, followed by Nifty Auto, Nifty Energy and Nifty Realty, while Nifty FMCG, Nifty Financial Services, Nifty IT and Nifty PSU Bank were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Tata Motors stood out as the leading gainer with an impressive surge of over 5%, followed by Coal India, Sun Pharma and Cipla. Conversely, UPL, Bajaj Finance, Bharti Airtel and HDFC Life found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Steel Authority of India, Torrent Power, UCO Bank and Indian Overseas Bank registered substantial gains, standing among the top gainers. On the flip side, One 97 Communications, Bank of India, Deepak Fertilizers & Petrochemicals Corp and Century Textiles have witnessed major declines, ranking among the top losers.

Tata Motors reports stellar Q3 results, PAT jumps 2x:

Tata Motors reported a significant increase in its consolidated net profit on February 2nd, with figures soaring to Rs 7,025 crore for the October-December quarter, marking a two-fold jump from Rs 2,957.71 crore recorded in the same period the previous year. This remarkable growth was attributed to several key factors, including robust demand for both passenger and commercial vehicles in India, sustained growth in Jaguar Land Rover models, reduced raw material costs, implemented price hikes, and an improved product mix.

Oil Prices:

In the early hours of Monday’s Asian trading session, oil prices found stability following notable declines last week. Despite ongoing efforts to broker a ceasefire in the Israel-Palestinian conflict, tensions persisted with the US considering fresh strikes on Iran-backed groups.

Brent crude futures saw a marginal increase of 8 cents, reaching $77.41 per barrel, while US West Texas Intermediate futures remained unchanged at $72.28 per barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 867 advancing stocks compared to 1404 declining stocks, signalling a pessimistic sentiment in the broader market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing Bell - Feb 06, 2024 | Frontline indices surge with Nifty IT among the top gainers!

On Tuesday, the Indian Frontline indices concluded the trading day on a positive note while, the broader indices closed higher.

Major Indices Performance:

On Tuesday, the Indian Frontline indices concluded the trading day on a positive note while, the broader indices closed higher. The Sensex surged by 0.63%, concluding at 71,186.10 level, while the Nifty soared by 0.72%, closing at 21,929.40 level. Whereas Nifty Bank experienced a moderate decline of 0.29%, closing at 45,690.80 level. Furthermore, in the broader market, Nifty Midcap substantially soared by 1.19%, while Nifty Smallcap surged by 0.79%.

Sectoral Performance:

Within the sectoral landscape, Nifty IT recorded a significant gain of over 2.5%, followed by Nifty Metal, Nifty Auto and Nifty Pharma, while Nifty PSU Bank, Nifty Bank and Nifty FMCG were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, BPCL stood out as the leading gainer with an impressive surge of over 6%, followed by HDFC Life, HCL Technologies and TCS. Conversely, Power Grid, Britannia, Indusind Bank and ITC found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Yes Bank, Steel Authority of India, Triveni Turbine and Indian Overseas Bank registered substantial gains, standing among the top gainers. On the flip side, PB Fintech, Crompton Greaves Consumer Electricals, NBCC (India) and BSE have witnessed major declines, ranking among the top losers.

HDFC Bank’s AMC to Acquire Up to 9.5% Stake in IndusInd Bank:

HDFC Bank clarified on February 6 that the RBI’s approval for acquiring a stake in IndusInd Bank does not pertain specifically to HDFC Bank itself. It clarified that the term ‘Bank’ in the disclosure should be understood as referring to the HDFC Bank Group.

The RBI’s approval for acquiring a stake in IndusInd Bank is intended for investments by HDFC Bank’s Asset Management Company (AMC) and Life Insurance arms. It was highlighted that as a promoter, HDFC Bank needed to seek approvals from the RBI for these transactions.

Late on Monday evening, IndusInd Bank informed stock exchanges that the RBI has permitted HDFC Bank to acquire an “aggregate holding of up to 9.50% of the paid-up share capital or voting rights” in the lender.

IndusInd Bank stated that the RBI approval followed an application made by HDFC Bank to the regulator. The approval has a validity of one year, and if HDFC Bank fails to acquire the shareholding within that period, the approval will be considered null and void.

Oil Prices:

In early trading on Tuesday, oil prices showed minimal movement as market participants evaluated U.S. Secretary of State Antony Blinken’s visit to the Middle East to discuss a ceasefire proposal. Blinken’s meeting with Saudi Arabia’s de-facto ruler on Monday is crucial for Palestinians anticipating a truce ahead of a potential Israeli assault on Rafah, a border city where a significant portion of the Gaza Strip population seeks refuge.

The ceasefire proposal, conveyed to Hamas last week by Qatari and Egyptian mediators, is pending a response from militants who seek additional assurances that it will bring an end to the ongoing four-month-old conflict.

Brent crude futures were down by 2 cents at $77.97 per barrel, while U.S. West Texas Intermediate crude futures saw a marginal decrease of 3 cents, settling at $72.75. Both contracts experienced nearly a 1% gain on Monday, breaking a four-session decline.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1456 advancing stocks compared to 788 declining stocks, signalling an optimistic sentiment in the broader market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell Feb 07, 2024: Frontline indices close flat, while Nifty PSU Bank surged over 2.5%!

On Wednesday, the Indian Frontline indices concluded the trading day on a flat note while, the broader indices substantially outperformed.

Major Indices Performance:

On Wednesday, the Indian Frontline indices concluded the trading day on a flat note while, the broader indices substantially outperformed. The Sensex marginally declined by 0.05%, concluding at 72,152 level, while the Nifty marginally gained by 0.01%, closing at 21,930.50 level. Whereas Nifty Bank experienced a moderate gain of 0.28%, closing at 45,818.50 level. Furthermore, in the broader market, Nifty Midcap substantially soared by 0.75%, while Nifty Smallcap surged by 0.71%.

Sectoral Performance:

Within the sectoral landscape, Nifty PSU Bank recorded a significant gain of over 2.5%, followed by Nifty Realty, Nifty Media and Nifty Energy, while Nifty IT and Nifty Auto were among the top underperformers.

Top Gainers and Losers:

Among the Nifty 50, SBI stood out as the leading gainer with an impressive surge of over 3.5%, followed by Grasim, JSW Steel and HDFC Life. Conversely, Tech Mahindra, Power Grid, Infosys and Adani Ports found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Yes Bank, One97 Communications, Indian Overseas Bank and UCO Bank registered substantial gains, standing among the top gainers. On the flip side, Navin Fluorine International, Gland Pharma, NLC India and Redington have witnessed major declines, ranking among the top losers.

Zurich Insurance gets CCI nod to acquire 70% stake in Kotak Mahindra General Insurance:

The Competition Commission of India (CCI) has given the green light for Zurich Insurance Company to acquire a 70% stake in Kotak Mahindra General Insurance Company. Zurich Insurance will obtain a 51% stake in Kotak Mahindra General Insurance Company through a blend of fresh growth capital and share purchase. Additionally, Zurich Insurance will gradually acquire an extra stake of up to 19% in Kotak Mahindra General Insurance over a period of time.

Oil Prices:

Initially, Brent and US crude futures surged by over $1 per barrel on Tuesday following the US Energy Department’s announcement of a slower-than-expected growth in crude oil production. However, they relinquished some of these gains amid discussions regarding a potential prolonged ceasefire in the Gaza War.

By the close of trading, Brent crude futures stood at $78.59 a barrel, marking an increase of 60 cents, or 0.77%. Similarly, US West Texas Intermediate crude futures climbed by 53 cents, or 0.73%, settling at $73.51.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1294 advancing stocks compared to 942 declining stocks, signalling an optimistic sentiment in the broader market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell Feb 08 2024: Frontline indices plummet as RBI keeps Repo Rate Unchanged at 6.5%!

Major Indices Performance:

On Thursday, the Indian indices concluded the trading day on a negative note while, the broader indices also experienced moderate decline. The Sensex substantially declined by 1%, concluding at 71,428.43 level, while the Nifty also significantly declined by 0.97%, closing at 21,717.95 level. Similarly, Nifty Bank experienced a major decline of 1.76%, closing at 45,012.80 level. Furthermore, in the broader market, Nifty Midcap marginally declined by 0.05%, while Nifty Smallcap moderately plunged by 0.39%.

Sectoral Performance:

Within the sectoral landscape, Nifty PSU Bank recorded a significant gain of over 2%, followed by Nifty Media, Nifty Energy and Nifty IT, while Nifty FMCG, Nifty Financial Services, Nifty Bank and Nifty Auto were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, SBI stood out as the leading gainer with an impressive surge of over 3.5%, followed by Power Grid, BPCL and Hindalco. Conversely, Britannia, ITC, Kotak Bank and ICICI Bank found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Bharat Dynamics, Cummins India, Tata Teleservices (Maharashtra) and Firstsource Solutions registered substantial gains, standing among the top gainers. On the flip side, One97 Communications, AU Small Finance Bank, UCO Bank and Indian Overseas Bank have witnessed major declines, ranking among the top losers.

RBI Keeps Repo Rate Unchanged at 6.5%:

The Reserve Bank of India’s Monetary Policy Committee (MPC) has opted to maintain the policy repo rate at 6.5%. The committee, consisting of six members, voted with a majority of 5:1 to uphold the repo rate in its final meeting of FY24. This decision comes amidst persistently high retail inflation, which continues to surpass the target of 4%.

This marks the sixth consecutive meeting where the MPC has opted for a status quo on the repo rate. Looking ahead, the Consumer Price Index (CPI) for FY24 is anticipated to stand at 5.4%, with an expected moderation to 4.5% in FY25. Additionally, the RBI has set the real Gross Domestic Product (GDP) growth projection for FY25 at 7%.

Oil Prices:

On Wednesday, oil prices increased for the third consecutive day, supported by a larger-than-anticipated decline in U.S. fuel inventories and escalating tensions in the Middle East.

Brent crude futures concluded 62 cents higher, marking a 0.79% rise to $79.21 per barrel. Similarly, U.S. West Texas Intermediate crude rose by 55 cents, or 0.75%, reaching $73.86.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 839 advancing stocks compared to 1416 declining stocks, signalling a pessimistic sentiment in the broader market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Frontline indices plummet while Boader indices experience major declines!

On Monday, the Indian Frontline indices concluded the trading day on a lower note, whereas the broader indices experienced substantial declines.

Major Indices Performance:

On Monday, the Indian Frontline indices concluded the trading day on a lower note, whereas the broader indices experienced substantial declines. The Sensex moderately plunged by 0.73%, concluding at 71,072.49 level, while the Nifty also declined by 0.76%, closing at 21,616.05 level. Similarly, Nifty Bank experienced a major decline of 1.65%, closing at 44,882.25 level. Furthermore, in the broader market, Nifty Midcap significantly declined by 2.48%, while Nifty Smallcap substantially plunged by 4.01%.

Sectoral Performance:

Within the sectoral landscape, Nifty IT recorded a significant gain of over 0.5%, followed by Nifty Pharma, while Nifty Media, Nifty PSU Bank, Nifty Realty and Nifty Energy were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Dr Reddy’s Laboratories stood out as the leading gainer with an impressive surge of over 2.5%, followed by Apollo Hospitals, Divi’s Laboratories and Wipro. Conversely, Coal India, Hero Motocorp, BPCL and ONGC found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, MRF, Astral, Jubilant Ingrevia and Global Health, registered substantial gains, standing among the top gainers. On the flip side, NHPC, Bharat Forge, SJVN and NLC India have witnessed major declines, ranking among the top losers.

Direct Tax Collection Surpasses 80% of Revised FY24 Target:

As of February 10, 2024, the net direct tax collection has achieved a significant milestone, reaching 80% of the revised target for the fiscal year 2023-24, amounting to Rs 15.60 lakh crore.

According to a statement released by the Central Board of Direct Taxes (CBDT), the net direct tax collection for the current fiscal year has witnessed a substantial growth of 20% year-on-year, totalling Rs 15.60 lakh crore. This amount represents 80% of the revised budget estimates set for the entire fiscal period.

The statement further highlights that gross direct tax collections up to February 10, 2024, have reached Rs 18.38 lakh crore, indicating a remarkable growth of 17.30% compared to the corresponding period of the previous fiscal year.

Furthermore, the net direct tax collection, after accounting for refunds, stands at Rs 15.60 lakh crore, reflecting a notable increase of 20.25% compared to the same period last year. This amount signifies 80.23% of the total revised estimates of direct taxes for the fiscal year 2023-24.

Oil Prices:

Crude oil prices saw a decline following the previous week’s rise, as Iran’s foreign minister hinted at a potential diplomatic resolution to the Israel-Hamas conflict. Brent crude dropped by 0.37% to $81.89 per barrel, after experiencing a 6.3% increase last week. Similarly, West Texas Intermediate traded 0.43% lower at $76.51 per barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 365 advancing stocks compared to 1906 declining stocks, signalling a pessimistic sentiment in the broader market.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell: Frontline indices surge with Nifty Bank among the top gainers!

On Tuesday, the Indian Frontline indices concluded the trading day on a positive note, whereas the broader indices also experienced moderate gains.

Major Indices Performance:

On Tuesday, the Indian Frontline indices concluded the trading day on a positive note, whereas the broader indices also experienced moderate gains. The Sensex moderately surged by 0.68%, concluding at 71,555.19 level, while the Nifty also gained by 0.59%, closing at 21,743.25 level. Similarly, Nifty Bank experienced a substantial gain of 1.38%, closing at 45,502.40 level. Furthermore, in the broader market, Nifty Midcap moderately surged by 0.34%, while Nifty Smallcap gained by 0.17%.

Sectoral Performance:

Within the sectoral landscape, Nifty Bank recorded a significant gain of over 1%, followed by Nifty Financial Services, Nifty PSU Bank and Nifty Energy while Nifty Metal and Nifty Media were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Coal India stood out as the leading gainer with an impressive surge of over 4.5%, followed by UPL, ICICI Bank and Axis Bank. Conversely, Hindalco, Grasim, Ultratech Cement and Divi’s Laboratories found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Indian Railway Finance Corporation, Rail Vikas Nigam, NLC India and Aegis Logistics, registered substantial gains, standing among the top gainers. On the flip side, One 97 Communications, KPIT Technologies, Elgi Equipments and NBCC (India) have witnessed major declines, ranking among the top losers.

Declining Inflation Trends in India:

India’s Consumer Price Index (CPI) inflation eased to 5.10% in January, marking a three-month low, with core inflation dropping to 3.6%, according to data released by the Ministry of Statistics and Programme Implementation on February 12. Additionally, the headline retail inflation rate in India decelerated to 5.10% in January, attributed to easing food prices.

The CPI inflation print in December 2023 was 5.69%. The latest CPI inflation figure of 5.10% aligns with economists’ expectations, who had predicted a year-on-year price increase of 5.09% in January 2024.

While headline retail inflation showed a decline in January, it has remained above the Reserve Bank of India’s (RBI) medium-term target of 4% for 52 consecutive months. However, it has been within the tolerance range of 2% to 6% for the fifth consecutive month.

Oil Prices:

On Tuesday, oil prices remained relatively stable for the second consecutive day, as concerns regarding the timing of potential U.S. interest rate adjustments and their implications for fuel consumption overshadowed apprehensions about tensions in the Middle East that could disrupt the oil supply chain.

Brent futures experienced a marginal decrease of 1 cent, settling at $81.99 per barrel, while U.S. West Texas Intermediate (WTI) crude saw a nominal increase of 1 cent, reaching $76.93 per barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1129 advancing stocks compared to 1115 declining stocks, signalling a slight optimistic sentiment in the broader market.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell: Frontline indices surge with Nifty PSU Bank among the top gainers!

On Wednesday, the Indian Frontline indices concluded the trading day on a positive note, while the broader indices showed strong performance.

Major Indices Performance:

On Wednesday, the Indian Frontline indices concluded the trading day on a positive note, while the broader indices showed strong performance. The Sensex moderately surged by 0.37%, concluding at 71,822.83 level, while the Nifty also gained by 0.45%, closing at 21,840.05 level. Similarly, Nifty Bank experienced a substantial gain of 0.89%, closing at 45,908.30 level. Furthermore, in the broader market, Nifty Midcap significantly surged by 1.04%, while Nifty Smallcap soared by 1.61%.

Sectoral Performance:

Within the sectoral landscape, Nifty PSU Bank recorded a substantial gain of over 3%, followed by Nifty Media, Nifty Energy and Nifty Metal while Nifty IT and Nifty Pharma were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, BPCL stood out as the leading gainer with an impressive surge of over 6.5%, followed by SBI, ONGC and Coal India. Conversely, Tech Mahindra, Cipla, Sun Pharma and Dr Reddy’s Laboratories found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Hindustan Petroleum Corporation, Indian Bank, Mangalore Refinery and Petrochemicals and SJVN, registered substantial gains, standing among the top gainers. On the flip side, One 97 Communications, L&T Technology Services, Glenmark Pharmaceuticals and Creditaccess Grameen have witnessed major declines, ranking among the top losers.

US Consumer Inflation Moderates in January, but still above expectations:

The latest data from the Bureau of Labor Statistics reveals that US consumer inflation experienced a slight slowdown in January, albeit less than initially anticipated.

According to the Consumer Price Index (CPI) for January 2024, prices increased by 3.1% over the preceding 12 months. This represents a slight retreat from the 3.4% rate observed in December but still indicates persistent inflationary pressures, especially when compared to the sharp 6.4% surge recorded in January 2023.

On a monthly basis, the CPI rose by 0.3% in January, with the majority of the increase attributed to persistently high shelter costs, which accounted for two-thirds of the overall gain. Despite a decline in gas prices offering some respite for consumers, food prices, although no longer outpacing overall inflation, experienced their highest monthly rate of increase in a year.

Oil Prices:

On Tuesday, oil prices closed with an uptick as geopolitical tensions persisted in the Middle East and Eastern Europe. However, gains were limited as investors tempered their expectations for potential interest rate cuts by the US Federal Reserve.

Brent futures settled at $82.77 a barrel, marking a gain of 77 cents or 0.94 per cent. Similarly, US West Texas Intermediate (WTI) crude settled at $77.87 a barrel, climbing 95 cents higher or 1.24 per cent.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1485 advancing stocks compared to 761 declining stocks, signalling an optimistic sentiment in the broader market.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Closing bell: Frontline indices close higher while Nifty PSU Bank surges over 3% | 15th February, 2024

On Thursday, the Indian Frontline indices concluded the trading day on a positive note, while the broader indices also significantly outperformed.

Major Indices Performance:

On Thursday, the Indian Frontline indices concluded the trading day on a positive note, while the broader indices also significantly outperformed. The Sensex moderately surged by 0.32%, concluding at 72,050.39 level, while the Nifty also gained by 0.32%, closing at 21,910.75 level. Similarly, Nifty Bank experienced a moderate gain of 0.68%, closing at 46,218.90 level. Furthermore, in the broader market, Nifty Midcap significantly surged by 1.01%, while Nifty Smallcap soared by 1.32%.

Sectoral Performance:

Within the sectoral landscape, Nifty PSU Bank recorded a significant gain of over 3%, followed by Nifty Energy, Nifty Auto and Nifty Realty while Nifty FMCG, Nifty Media and Nifty Pharma were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, M&M stood out as the leading gainer with an impressive surge of over 6.5%, followed by BPCL, NTPC and ONGC. Conversely, Axis Bank, Apollo Hospitals, ITC and Hindustan Unilever found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Oil India, Torrent Power, Mangalore Refinery and Petrochemicals and NMDC Steel, registered substantial gains, standing among the top gainers. On the flip side, Zee Entertainment, One 97 Communications, Elgi Equipments and Jyothy Labs have witnessed major declines, ranking among the top losers.

Revised US Producer Prices Decline in December:

Revised government data revealed that US producer prices fell more than initially reported in December. The producer price index for final demand decreased by 0.2%, contrary to the previously stated 0.1% decline, according to annual revisions from the Labor Department’s Bureau of Labor Statistics (BLS). Data for October and November remained unchanged, showing a decline of 0.4% and a slip of 0.1%, respectively.

Collaborative Palm Oil Production Talks Between Hindustan Unilever and Andhra Pradesh Government:

Hindustan Unilever is engaged in discussions with the Andhra Pradesh government for a collaborative venture in palm oil production within the state. HUL aims to partner with over 15,000 farmers in Andhra Pradesh, intending to establish at least 30,000 hectares of oil palm plantations. The envisioned plan anticipates investments exceeding Rs 300 crore throughout the project development phase. Additionally, the proposed palm oil mill is projected to generate over 1,000 direct and indirect employment opportunities in the state.

Oil Prices:

On Wednesday, oil futures declined by $1 per barrel due to soaring US crude inventories, which exerted downward pressure on prices. Additionally, concerns over a potential security threat to the US, which could dampen oil demand in the world’s largest economy, contributed to the downward trend.

Brent crude futures closed at $81.60 per barrel, marking a decrease of $1.17 or 1.4%. Meanwhile, US West Texas Intermediate (WTI) crude futures settled at $76.64 per barrel, experiencing a loss of $1.23 or 1.6%.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1517 advancing stocks compared to 741 declining stocks, signalling an optimistic sentiment in the broader market.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.