Stock Market : Closing Bell

Closing bell: Frontline indices close on a positive note with Nifty Auto among the top gainers | 16th February, 2024

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

Major Indices Performance:

On Friday, the Indian Frontline indices concluded the trading day on a positive note, while the broader indices also closed higher. The Sensex moderately surged by 0.52%, concluding at 72,426.64 level, while the Nifty also gained by 0.59%, closing at 22,040.70 level. Similarly, Nifty Bank experienced a moderate gain of 0.36%, closing at 46,384.85 level. Furthermore, in the broader market, Nifty Midcap surged by 0.64%, while Nifty Smallcap soared by 0.55%.

Sectoral Performance:

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

Top Gainers and Losers:

Among the Nifty 50, Wipro stood out as the leading gainer with an impressive surge of over 4.5%, followed by M&M, SBI Life and Adani Ports. Conversely, Power Grid, ONGC, SBI and Britannia found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, IPCA Labs, Prestige Estate, Natco Pharma and Data Patterns registered substantial gains, standing among the top gainers. On the flip side, Gujarat Gas, Poonawalla Fincorp, SJVN and NMDC Steel have witnessed major declines, ranking among the top losers.

Government Increases Windfall Gains Tax on Crude Oil and Diesel:

Effective February 15, the government has raised the windfall gains tax on crude petroleum products. The revisions entail an increase in the Special Additional Excise Duty (SAED) on crude petroleum to Rs 3,300 per tonne, up from the previous Rs 3,200 per tonne. Additionally, the tax on diesel will rise to Rs 1.50 per litre from its previous zero rate. Notably, the SAED on petrol and aviation turbine fuel (ATF) remains unchanged at nil.

Earlier this month, the government had already augmented the windfall tax on domestically produced crude oil, elevating it from Rs 1,700 per tonne to Rs 3,200 per tonne. These taxes are collected in the form of Special Additional Excise Duty (SAED).

Oil Prices:

On Thursday, oil prices climbed more than 1% following a decline in the dollar triggered by U.S. retail data, albeit investors remained cautious due to an International Energy Agency (IEA) report indicating slowing demand growth this year.

Brent crude futures concluded $1.26 higher, representing a 1.5% increase, settling at $82.86 per barrel. Meanwhile, US West Texas Intermediate crude futures saw a rise of $1.39, or 1.8%, reaching $78.03.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1389 advancing stocks compared to 830 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 on a positive note with Nifty Pharma among the top gainers | 19th February, 2024

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

Major Indices Performance:

On Monday, the Indian Frontline indices concluded the trading day on a positive note, while the broader indices also closed moderately higher. The Sensex moderately surged by 0.39%, concluding at 72,708.16 level, while the Nifty also gained by 0.37%, closing at 22,122.25 level. Similarly, Nifty Bank experienced a moderate gain of 0.32%, closing at 46,535.50 level. Furthermore, in the broader market, Nifty Midcap surged by 0.36%, while Nifty Smallcap soared by 0.4%.

Sectoral Performance:

Within the sectoral landscape, Nifty Pharma recorded a significant gain of 0.88%, followed by Nifty FMCG, Nifty Media and Nifty Financial Services while Nifty Realty, nifty PSU Bank and Nifty IT were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Grasim stood out as the leading gainer with an impressive surge of over 2.5%, followed by Bajaj Finserv, Bajaj Auto and Cipla. Conversely, Coal India, L&T, SBI Life and Wipro found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, PB Fintech, Fertilizers & Chemicals Travancore, Mangalore Refinery and Petrochemicals and JBM Auto, registered substantial gains, standing among the top gainers. On the flip side, Yes Bank, HDFC AMC, Karur Vysya Bank and Housing & Urban Development Corporation have witnessed major declines, ranking among the top losers.

Decline in India’s Forex Reserves After Two-Week Gain:

India’s foreign exchange reserves, as reported by the central bank on Friday, retreated from a one-month peak to stand at $617.23 billion as of February 9.

During the reporting week, the reserves saw their most significant drop in a month, decreasing by $5.27 billion. This decline follows two consecutive weeks of growth, during which the reserves had increased by a total of $6.36 billion.

Russian Central Bank Maintains 16% Interest Rate Amid Persistent Inflation:

Opting to keep borrowing costs steady, Russia’s central bank announced on Friday that it would retain its key interest rate at 16%. This decision comes after implementing five consecutive rate hikes since last summer, reflecting the ongoing battle against persistent inflationary pressures.

Having increased rates by 850 basis points since July, including an unexpected emergency hike in August prompted by currency instability and government calls for tighter monetary policy, the central bank has recently hinted at a more accommodative stance.

Despite a slight easing from autumn highs, the bank emphasized that achieving its 4% inflation target for the year would necessitate maintaining “tight monetary conditions” over an extended period. It cautioned that inflationary forces remained elevated, underscoring the challenges ahead.

Oil Prices:

On Friday, oil prices closed higher, driven by geopolitical tensions in the Middle East, which outweighed concerns about slowing demand as projected by the International Energy Agency.

Brent crude futures concluded with a gain of 61 cents, or 0.74%, settling at $83.47 per barrel. Meanwhile, US West Texas Intermediate crude settled $1.16 higher, or 1.49%, at $79.19, with the nearby March contract expiring on Tuesday. The April contract also saw an increase, rising by 87 cents to $78.46.

Throughout the week, Brent experienced a gain of over 1%, while the US benchmark saw an increase of about 3%.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1425 advancing stocks compared to 827 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 on a positive note with Nifty Financial Services among the top gainers | 20 February 2024

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

Major Indices Performance:

On Tuesday, the Indian Frontline indices concluded the trading day on a positive note, while the broader indices moderately underperformed. The Sensex moderately surged by 0.48%, concluding at 73,057.40 level, while the Nifty also gained by 0.34%, closing at 22,196.95 level. Similarly, Nifty Bank experienced a substantial gain of 1.2%, closing at 47,094.20 level. Furthermore, in the broader market, Nifty Midcap plunged by 0.13%, while Nifty Smallcap plummeted by 0.53%.

Sectoral Performance:

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

Top Gainers and Losers:

Among the Nifty 50, Power Grid stood out as the leading gainer with an impressive surge of over 4%, followed by HDFC Bank, Axis Bank and NTPC. Conversely, Hero Motocorp, Coal India, Bajaj Auto and Eicher Motors found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Zee Entertainment, One 97 Communications, Shree Renuka Sugars and Deepak Fertilizers, registered substantial gains, standing among the top gainers. On the flip side, Federal Bank, Biocon, Mangalore Refinery and Petrochemicals and Housing JBM Auto have witnessed major declines, ranking among the top losers.

Coal India’s Bid in Critical Minerals Auctions:

Coal India, under the leadership of Chairman and Managing Director P M Prasad, plans to participate in the country’s critical minerals auctions scheduled for February. The state-run company intends to bid for three mines, including lithium and nickel, as part of India’s efforts to bolster its clean energy initiatives. The auctions, aimed at raising an estimated 450 billion rupees, have attracted interest from various sectors, signalling a significant push towards sustainable energy sources.

Oil Prices:

Brent crude oil prices closed marginally higher during a shortened session on Monday, as concerns over Middle East tensions impacting supply were tempered by indications of weakening demand.

Trading volumes in oil markets were lighter than usual due to the Presidents’ Day holiday in the U.S. Additionally, Brent futures settled earlier than usual due to the holiday.

Brent futures edged up by 9 cents to reach $83.56 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude for March delivery, which will not undergo settlement today and expires on Tuesday, increased by 30 cents to $79.49 per barrel.

However, the WTI contract for April delivery dipped by 11 cents to $78.35 per barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1062 advancing stocks compared to 1190 declining stocks, signaling 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 close on a higher note as Nifty makes new all-time high | 22 February 2024

On Thursday, the Indian Frontline indices concluded the trading day on a higher note as Nifty makes new all-time high, while the broader indices also show resilience.

Major Indices Performance:

On Thursday, the Indian Frontline indices concluded the trading day on a higher note as Nifty makes new all-time high, while the broader indices also show resilience. The Sensex substantially surged by 0.74%, concluding at 73,158.24 level, while the Nifty also soared by 0.74% and reached its new all-time high of 22,252.50 level. Whereas Nifty Bank experienced a moderate decline of 0.21%, closing at 46,919.80 level. Furthermore, in the broader market, Nifty Midcap soared by 1.02%, while Nifty Smallcap also registered significant gains of 0.68%.

Sectoral Performance:

Within the sectoral landscape, Nifty IT recorded a significant gain of 1.5%, followed by Nifty Auto, Nifty Metal and Nifty Media while Nifty Bank and Financial Services were the only sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, Bajaj Auto stood out as the leading gainer with an impressive surge of over 3%, followed by HCL Technologies, Eicher Motors and Coal India. Conversely, Indusind Bank, HDFC Bank, Kotak Bank and BPCL found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Yes Bank, Vodafone Idea, Graphite India and Data Patterns, registered substantial gains, standing among the top gainers. On the flip side, Gland Pharma, Indian Bank, JBM Auto and KEI Industries have witnessed major declines, ranking among the top losers.

Deteriorating Business Conditions in Japan: PMI Indicates Continued Declines:

In February, Japan witnessed further declines in factory activity and a slowdown in service sector growth, according to surveys released on Thursday. The flash au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to 47.2 from January’s 48.0. This extended the index’s streak below the growth-contracting threshold of 50.0 for nine consecutive months.

Oil Prices:

Oil prices surged by 1% on Wednesday amidst ongoing geopolitical tensions in the Middle East and traders’ evaluation of indications pointing to near-term supply constraints.

US West Texas Intermediate crude futures (WTI) climbed 87 cents, or 1.1%, reaching a settlement of $77.91 per barrel, while Brent crude increased by 69 cents, or 0.8%, settling at $83.03 per barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1268 advancing stocks compared to 979 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 lower with Nifty Realty among the top gainers | 23 February, 2024

On Friday, the Indian Frontline indices concluded the trading day on a lower note after Nifty makes a new all-time high, while the broader indices closed on a positive note.

Major Indices Performance:

On Friday, the Indian Frontline indices concluded the trading day on a lower note after Nifty makes a new all-time high, while the broader indices closed on a positive note. The Sensex closed marginally lower 0.02%, concluding at 73,142.80 level, while the Nifty closed flat after reaching its new all-time high of 22,297.50 level. Whereas Nifty Bank experienced a moderate decline of 0.23%, closing at 46,811.75 level. Furthermore, in the broader market, Nifty Midcap soared by 0.31%, while Nifty Smallcap also registered gains of 0.38%.

Sectoral Performance:

Within the sectoral landscape, Nifty Media recorded a significant gain of over 1%, followed by Nifty Realty, Nifty Pharma and Nifty Auto while Nifty PSU Bank, Nifty Metal Nifty Bank and Nifty IT were among the major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, Bajaj Finserv stood out as the leading gainer with an impressive surge of over 1.5%, followed by SBI Life, Dr Reddy’s Laboratories and Titan. Conversely, BPCL, HCL Technologies, Maruti and Asian Paints found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Vodafone Idea, Indus Towers, Intellect Design Arena and Data Patterns, registered substantial gains, standing among the top gainers. On the flip side, Fertilizers & Chemicals Travancore, Yes Bank, Mangalore Refinery and Petrochemicals and Indian Overseas Bank have witnessed major declines, ranking among the top losers.

RBI MPC Concerns on Inflation and Policy Stance:

The Reserve Bank of India’s (RBI) monetary policy committee (MPC) members expressed caution regarding inflation during their meeting, citing uncertainties in food prices, as revealed in the minutes released on February 22.

“Food price uncertainty remains a major source of volatility for headline inflation outlook. Growing geopolitical tensions and supply chain disruptions due to new flash points also pose further risks to the inflation outlook,” stated RBI Governor Shaktikanta Das during the February round of monetary policy review.

Governor Das highlighted concerns about recurring food price shocks potentially disrupting the ongoing disinflation process, with associated risks of de-anchoring inflation expectations and the generalization of price pressures.

Oil Prices:

Oil futures closed higher on Thursday amidst ongoing hostilities in the Red Sea, where Iran-aligned Houthis intensified attacks near Yemen. However, gains were tempered by a substantial increase in U.S. crude inventories.

Brent crude futures settled up 64 cents, or 0.77%, at $83.67 per barrel, while US West Texas Intermediate crude futures settled higher by 70 cents, or 0.9%, at $78.61 per barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1130 advancing stocks compared to 1109 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 close lower with Nifty Energy among the top gainers | 26 February 2024

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

Major Indices Performance:

On Monday, the Indian Frontline indices concluded the trading day on a lower note, while the broader indices also underperformed. The Sensex closed moderately lower by 0.48%, concluding at 72,790.14 level, while the Nifty also declined by 0.41% and concluded at 22,122.05 level. Similarly Nifty Bank experienced a moderate decline of 0.5%, closing at 46,576.50 level. Furthermore, in the broader market, Nifty Midcap plummeted by 0.36%, while Nifty Smallcap also registered losses of 0.26%.

Sectoral Performance:

Within the sectoral landscape, Nifty Energy recorded a moderate gain of 0.5%, followed by Nifty Auto and Nifty Realty while Nifty IT, Nifty Metal, Nifty Bank and Nifty PSU Bank were among the major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, L&T stood out as the leading gainer with an impressive surge of over 2%, followed by Power Grid, Adani Enterprises and BPCL. Conversely, Asian Paints, Apollo Hospitals, Hindalco and Divi’s Laboratories found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, PB Fintech, Bharat Dynamics, Data Patterns and Jubilant Ingrevia, registered substantial gains, standing among the top gainers. On the flip side, Alkem Laboratories, Vodafone Idea, Aegis Logistics and Birlasoft have witnessed major declines, ranking among the top losers.

Decline in India’s Forex Reserves Hits Two-Month Low:

India’s foreign exchange reserves, as reported by the Reserve Bank of India (RBI) on February 23, decreased to $616.10 billion by February 16.

This figure represents a $1.13 billion drop from the preceding week. Notably, the reserves saw a steeper decline of $5.24 billion in the week ending February 9, culminating in the lowest value witnessed in two months.

The last time reserves were at a lower level was on December 15, when they stood at $615.97 billion.

Oil Prices:

On Monday, oil prices continued to decline, following the trend from the previous session. The strengthening of the dollar added to market concerns, suggesting that higher-than-expected inflation might postpone cuts to US interest rates, which in turn could limit global fuel demand growth.

Brent crude for May delivery dropped to $80.50 a barrel, while US WTI futures fell to $76.14 a barrel as the US dollar gained strength. The decline in Brent was approximately 2%, while WTI saw a drop of more than 3%, fuelled by indications that US interest rate cuts might be postponed by up to two months.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 838 advancing stocks compared to 1427 declining stocks, signalling a slight 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 plummet over 1% with Nifty Media among the top losers | 28th February 2024

On Wednesday, the Indian Frontline indices concluded the trading day on a lower note, while the broader indices significantly underperformed.

Major Indices Performance:

On Wednesday, the Indian Frontline indices concluded the trading day on a lower note, while the broader indices significantly underperformed. The Sensex closed substantially lower by 1.08%, concluding at 72,304.89 level, while the Nifty also plummeted by 1.11% and concluded at 21,951.15 level. Similarly Nifty Bank experienced a major decline of 1.34%, closing at 45,963.15 level. Furthermore, in the broader market, Nifty Midcap plummeted by 1.94%, while Nifty Smallcap significantly declined by 1.87%.

Sectoral Performance:

Within the sectoral landscape, all the major sectors underperformed with Nifty Media plunging over 3% followed by Nifty Energy, Nifty PSU Bank and Nifty Realty, which were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Hindustan Unilever stood out as the leading gainer with a moderate surge of over 0.5%, followed by Infosys, TCS and Bharti Airtel. Conversely, Power Grid, Apollo Hospitals, Eicher Motors and Bajaj Auto found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Max Financial Services, PB FIntech, Aegis Logistics and KEC International, registered substantial gains, standing among the top gainers. On the flip side, Vodafone Idea, Zee Entertainment, HFCL and NLC India have witnessed major declines, ranking among the top losers.

Vodafone Idea Plans Fundraising of Rs 45,000 Crore with Promoter Participation:

The Board of Vodafone Idea has greenlit a fundraising initiative of up to Rs 45,000 crore, encompassing equity and debt, as per the telecom company’s filing on February 27. Approximately Rs 20,000 crore will be secured through equity or equity-linked instruments, with the remainder being raised via debt. Promoters are set to partake in the equity raise. A shareholder meeting is scheduled for April 2, 2024, and upon approval, the company anticipates completing the equity fundraising in the upcoming quarter.

Oil Prices:

On Tuesday, oil prices climbed amid concerns regarding a potential ceasefire in Gaza and anticipation that the OPEC+ producer group might prolong voluntary supply reductions into March.

Brent crude futures increased by 50 cents, or 0.61%, reaching $83.03 per barrel, while US West Texas Intermediate crude futures (WTI) saw a gain of 60 cents, or 0.77%, reaching $78.18.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 306 advancing stocks compared to 1962 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 close higher while Nifty PSU Bank surges over 1% | 29th February, 2024

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

Major Indices Performance:

On Thursday, the Indian Frontline indices concluded the trading day on a positive note, while the broader indices outperformed. The Sensex closed moderately higher by 0.27%, concluding at 72,500.30 level, while the Nifty also surged by 0.14% and concluded at 21,982.80 level. Similarly Nifty Bank experienced moderate gains of 0.34%, closing at 46,120.90 level. Furthermore, in the broader market, Nifty Midcap surged by 0.51%, while Nifty Smallcap soared by 0.64%.

Sectoral Performance:

Within the sectoral landscape, Nifty PSU Bank recorded a substantial gain of 1%, followed by Nifty Metal, Nifty FMCG and Nifty Bank while Nifty Media and Nifty IT were the only major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, Adani Enterprises stood out as the leading gainer with a significant surge of over 2%, followed by Tata Consumer Product, Indusind Bank and M&M. Conversely, Apollo Hospitals, Bajaj Auto, LTIMindtree and Eicher Motors found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, APL Apollo, Sona BLW Precision Forgings, Triveni Turbine and Hindustan Copper, registered substantial gains, standing among the top gainers. On the flip side, Max Financial Services, Rail Vikas Nigam, Global Health and Birla Corporation have witnessed major declines, ranking among the top losers.

Reliance and Disney Forge Rs 70,352 Crore JV to Merge Streaming and TV Assets in India:

Reliance Industries Ltd (RIL) announces a significant joint venture with The Walt Disney Company, positioning itself as the senior partner in India’s rapidly growing media and entertainment market. Through its unit Viacom18, RIL will hold a controlling stake in the venture formed by merging Viacom18 and Disney’s India unit Star India. The deal values Star India at approximately $3.5 billion, showcasing RIL’s adept deal-making skills and strategic positioning in the industry.

Oil Prices:

US crude oil futures closed with losses on Wednesday following the Federal Reserve’s decision to maintain interest rates, coupled with an increase in US crude stockpiles.

Brent crude futures edged 3 cents higher, or 0.04%, reaching $83.68 a barrel, while US West Texas Intermediate futures (WTI) settled 33 cents lower, or down 0.42%, at $78.54. Both benchmarks had previously dropped $1 during trading.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1197 advancing stocks compared to 1060 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 make new all-time highs while Nifty Metal surges over 3.5% | 1st March 2024

On Friday, the Indian Frontline indices concluded the trading day significantly higher, after making new all-time highs while broader indices also closed higher.

Major Indices Performance:

On Friday, the Indian Frontline indices concluded the trading day significantly higher, after making new all-time highs while broader indices also closed higher. The Sensex closed substantially higher by 1.72%, after making new all-time of 73,819.21 level, while the Nifty also soared by 1.62% after making a new all-time higher of 22,353.30 level. Similarly Nifty Bank also experienced substantial gains of over 2.5%, closing at 47,286.90 level. Furthermore, in the broader market, Nifty Midcap surged by 0.94%, while Nifty Smallcap soared by 0.52%.

Sectoral Performance:

Within the sectoral landscape, Nifty Metal recorded a substantial gain of over 3.5%, followed by Nifty Bank, Nifty Auto and Nifty Energy while Nifty Media, Nifty Pharma and Nifty IT were among the major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, Tata Steel stood out as the leading gainer with a significant surge of over 6%, followed by JSW Steel, L&T and Titan. Conversely, Dr Reddy’s Laboratories, HCL Technologies, Sun Pharma and Infosys found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Steel Authority of India, Oil India, Data Patterns and Metropolis Healthcare, registered substantial gains, standing among the top gainers. On the flip side, Max Health Insurance, PB Fintech, Global Health and Amber Enterprises have witnessed major declines, ranking among the top losers.

India’s Q3 GDP Surges to 8.4%, Exceeding Forecasts:

The Ministry of Statistics and Programme Implementation’s data revealed India’s GDP growth at an impressive 8.4% in the December quarter, surpassing expectations. Initial estimates projected a three-quarter low of 6.5%. Revised figures also indicate an upward adjustment for the second and first quarters, with growth rates at 8.1% and 8.2%, respectively. The robust performance fuels optimism for the fiscal year 2023-24, with the growth forecast set at 7.6%.

Oil Prices:

Thursday saw oil prices inching higher, driven by reinforced expectations of a potential interest rate cut in June following US inflation data, which bolstered demand outlook. Additionally, remarks from US President Joe Biden hinting at continuing conflict in Gaza heightened supply sentiments.

Brent crude futures for April delivery, set to expire on Thursday, increased by 9 cents to reach $83.77 a barrel. The more actively traded May contract saw a rise of 58 cents to $82.73, while the April US crude contract climbed 65 cents to $79.19 per barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1159 advancing stocks compared to 711 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: Nifty makes new all-time high with Nifty Energy among the top gainers | 4th March, 2024

On Monday, the Indian Frontline indices concluded the trading day on a positive note, while the broader indices ended the day on a mixed note.

Major Indices Performance:

On Monday, the Indian Frontline indices concluded the trading day on a positive note, while the broader indices ended the day on a mixed note. The Sensex marginally surged by 0.09%, and closed at 73,872.29 level, while the Nifty also gained by 0.12% and made a new all-time high of 22,440.90 level. Similarly Nifty Bank also experienced moderate gains of 0.34% and closed at 47,456.80 level. Furthermore, in the broader market, Nifty Midcap surged by 0.19%, while Nifty Smallcap plummeted by 0.51%.

Sectoral Performance:

Within the sectoral landscape, Nifty Energy recorded a substantial gain of over 1.5%, followed by Nifty Financial Services, Nifty Bank and Nifty Pharma while Nifty Media, Nifty IT, Nifty Auto and Nifty FMCG were among the major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, NTPC stood out as the leading gainer with a significant surge of over 3.5%, followed by HDFC Life, Power Grid and ONGC. Conversely, Eicher Motors, JSW Steel, M&M and SBI Life found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Bharat Heavy Electricals, Oil India, KEI Industries and Graphite India, registered substantial gains, standing among the top gainers. On the flip side, Gujarat Fluorochemicals, Gland Pharma, Global Health and Triveni Turbine have witnessed major declines, ranking among the top losers.

Oil Prices:

Crude oil prices continued their upward trajectory, nearing the peak for the year following OPEC’s decision to prolong production cuts. Brent futures saw a 0.30% increase, reaching $83.80 per barrel after a 2% surge on Friday. Meanwhile, the US benchmark West Texas Intermediate rose by 0.25% to $80.17, surpassing the $80 mark for the first time since November.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 804 advancing stocks compared to 1481 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 make new all-time highs while Nifty Smallcap plunges over 1.5% | 6 March, 2024

On Wednesday, the Indian Frontline indices reached new all-time highs while the Broader indices experienced substantial declines.

Major Indices Performance:

On Wednesday, the Indian Frontline indices reached new all-time highs while the Broader indices experienced substantial declines. The Sensex moderately surged over 0.55%, and made a new all-time high of 74,151.28 level, while the Nifty also soared over 0.53% and reached its record high of 22,497.20 level. Similarly Nifty Bank experienced significant gains of 0.81% and closed at 47,965.40 level. Furthermore, in the broader market, Nifty Midcap plunged by 0.52%, while Nifty Smallcap significantly declined by 1.96%.

Sectoral Performance:

Within the sectoral landscape, Nifty Bank recorded a substantial gain of 0.8%, followed by Nifty IT, Nifty Pharma and Nifty Financial Services while Nifty Media, Nifty Realty, Nifty Metal and Nifty Energy were among the major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, Bajaj Auto stood out as the leading gainer with a significant surge of over 3%, followed by Kotak Bank, Axis Bank and Bharti Airtel. Conversely, Adani Enterprises, Ultratech Cement, NTPC and ONGC found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Tata Chemicals, Max Health Insurance, Natco Pharma and Zensar Technologies, registered substantial gains, standing among the top gainers. On the flip side, L&T Finance Holdings, Indraprastha Gas, IIFL and Mahanagar Gas have witnessed major declines, ranking among the top losers.

RBI Restricts JM Financial from Share and Debenture Financing:

The Reserve Bank of India (RBI) has, with immediate effect on March 5, prohibited JM Financial Ltd from extending loans against shares and debentures, including loans related to Initial Public Offerings (IPOs). This decision follows the RBI’s identification of significant deficiencies in the financial firm’s loan procedures. Notably, the central bank expressed serious apprehensions regarding governance issues within the company, along with violations of regulatory guidelines.

Oil Prices:

On Wednesday, oil prices experienced a slight decline due to apprehensions regarding demand growth in China, the largest importer of crude globally, juxtaposed with indications of supply constraints resulting from output reductions by significant producers.

Additionally, a weaker US dollar, which boosts demand for buyers using alternative currencies, provided support to prices. Brent crude futures decreased by 13 cents to $81.91 per barrel, while US West Texas Intermediate crude futures declined by 11 cents to $78.04 per barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 531 advancing stocks compared to 1741 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 reach new highs while Nifty Media surges over 2.5% | 7th March 2024

On Thursday, the Indian Frontline indices reached new all-time highs while the Broader indices showed resilience.

Major Indices Performance:

On Thursday, the Indian Frontline indices reached new all-time highs while the Broader indices showed resilience. The Sensex closed marginally higher by 0.05%, after making a new all-time high of 74,245.17 level, while the Nifty also closed higher by 0.09% after making a record high of 22,525.65 level. Whereas Nifty Bank experienced moderate losses of 0.27% and closed at 47,835.80 level. Furthermore, in the broader market, Nifty Midcap surged by 0.22%, while Nifty Smallcap significantly gained by 0.85%.

Sectoral Performance:

Within the sectoral landscape, Nifty Media recorded a substantial gain of over 2.5%, followed by Nifty Metal, Nifty FMCG and Nifty Pharma while Nifty Energy, Nifty Bank, Nifty Auto and Nifty Realty were among the major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, Tata Steel stood out as the leading gainer with a significant surge of over 3.5%, followed by Tata Consumer Product, Bajaj Auto and Tata Motors. Conversely, M&M, BPCL, Reliance and Axis Bank found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Tata Chemicals, Fortis Healthcare IIFL and Tata Teleservices (Maharashtra), registered substantial gains, standing among the top gainers. On the flip side, Apollo Tyres, Motherson Sumi Wiring India, NLC India and Equitas Small Finance Bank have witnessed major declines, ranking among the top losers.

Fed’s Caution on Rate Cuts:

Federal Reserve Chair Jerome Powell emphasized to lawmakers that the central bank won’t rush into interest rate cuts until they are confident in controlling inflation. In prepared remarks to a House panel, Powell indicated a potential adjustment in borrowing costs later in the year but stressed the need for further evidence before implementing such measures. Powell’s stance mirrors a broader sentiment among Fed officials, highlighting the importance of economic strength and the labour market’s resilience in the decision-making process.

Oil Prices:

Oil prices surged approximately 2% on Wednesday, buoyed by several factors including a smaller-than-anticipated increase in US crude inventories, significant withdrawals from distillate and gasoline stockpiles, and statements from the Federal Reserve chief affirming the expectation of US interest rate cuts later in the year.

The prospect of lower interest rates potentially boosting economic growth could lead to increased demand for oil.

Brent futures climbed $1.65, or 2%, reaching $83.69 a barrel, while US West Texas Intermediate (WTI) crude jumped $2.07, or 2.7%, to $80.22. Brent was poised for its first daily gain in five days.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1423 advancing stocks compared to 846 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 plummet while Nifty Smallcap declines over 1.5%!

On Monday, the Indian Frontline indices significantly declined while Broader indices underperformed.

Major Indices Performance:

On Monday, the Indian Frontline indices significantly declined while Broader indices underperformed. The Sensex closed substantially lower 0.83%, closing at 73,502.64 level, while the Nifty also closed significantly lower 0.72% closing at 22,332.65 level. Similarly Nifty Bank experienced substantial loss of 1.06% and closed at 47,327.85 level. Furthermore, in the broader market, Nifty Midcap plunged by 0.39%, while Nifty Smallcap significantly declined by 1.99%.

Sectoral Performance:

Within the sectoral landscape, Nifty Pharma was the only major sector which traded positively while Nifty Media, Nifty PSU Bank, Nifty Metal and Nifty Energy were among the major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, Apollo Hospitals stood out as the leading gainer with a significant surge of over 2.5%, followed by Nestle India, SBI Life and Cipla. Conversely, Tata Consumer Product, Bajaj Auto, Power Grid and Tata Steel found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Poonawalla Fincorp, Fortis Healthcare, KEC International and NLC India, registered substantial gains, standing among the top gainers. On the flip side, Tata Chemicals, NMDC, IIFL Finance and Aegis Logistics have witnessed major declines, ranking among the top losers.

India’s Forex Reserves Surge by $6.55 Billion to $625.63 Billion:

India’s foreign exchange reserves saw a significant surge, increasing by $6.55 billion to reach $625.626 billion for the week ending March 1, according to the Reserve Bank of India’s announcement on Friday. This marks a notable uptick following the previous week’s rise, where the total reserves grew by $2.975 billion, reaching $619.072 billion.

Despite facing depletion in recent months due to the central bank’s efforts to stabilize the rupee amidst global pressures, including in October 2021 when reserves hit an all-time high of $645 billion, the latest increase indicates a positive momentum in India’s forex holdings. Data reveals that foreign currency assets, a key component of the reserves, experienced a substantial growth of $6.043 billion, reaching $554.231 billion for the week ending March 1.

Oil Prices:

On Monday, oil prices continued their decline from the previous week, driven by worries over sluggish demand in China. However, concerns regarding geopolitical tensions in the Middle East and Russia restrained the extent of the decrease.

Brent futures retreated by 48 cents, or 0.6%, reaching $81.60 per barrel at 0129 GMT, while U.S. West Texas Intermediate (WTI) decreased by 50 cents, or 0.6%, to $77.51.

Both Brent and WTI benchmarks experienced declines in the preceding week, with Brent dropping by 1.8% and WTI by 2.5%.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 394 advancing stocks compared to 1888 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 while broader indices plummet!

On Tuesday, the Indian Frontline indices experienced moderate gains while Broader indices experienced substantial declines extending previous day’s losses.

Major Indices Performance:

On Tuesday, the Indian Frontline indices experienced moderate gains while Broader indices experienced substantial declines extending previous day’s losses. The Sensex closed moderately higher by 0.22%, closing at 73,667.96 level, while the Nifty closed marginally higher by 0.01% closing at 22,335.70 level. Whereas Nifty Bank experienced moderate loss of 0.1% and closed at 47,282.40 level. Furthermore, in the broader market, Nifty Midcap plunged by 1.41%, while Nifty Smallcap substantially declined by 1.98%.

Sectoral Performance:

Within the sectoral landscape, Nifty Pharma and Nifty Financial Services were the only major sectors which traded positively while Nifty Realty, Nifty PSU Bank, Nifty Media and Nifty Metal were among the major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, HDFC Bank stood out as the leading gainer with a significant surge of over 2%, followed by TCS, LTIMindtree and Maruti. Conversely, Adani Enterprises, Cipla, Grasim and Adani Ports found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Balkrishna Industries, Poonawalla Fincorp, Indiamart Intermesh and Intellect Design Arena, registered substantial gains, standing among the top gainers. On the flip side, Patanjali Foods, Indian Bank, Elgi Equipments and Housing & Urban Development Corporation have witnessed major declines, ranking among the top losers.

Guidelines Released for Spectrum Regulatory Sandbox and Wireless Test Zones by DoT:

The Department of Telecommunications (DoT) has released guidelines for the spectrum regulatory sandbox and Wireless Test Zones, aiming to facilitate a business-friendly environment and bolster the “Make in India” initiative within the wireless product sector. The introduced sandbox is anticipated to play a pivotal role in fostering technology development, particularly in optimizing and enhancing the efficiency of greenfield spectrum bands.

Union Telecom and IT Minister Ashwini Vaishnaw highlighted that the spectrum regulatory sandbox will streamline the process, offering a portal-based permission system for engineering colleges to conduct tests on telecom equipment.

Oil Prices:

On Monday, oil prices experienced a decline, with the global benchmark Brent dropping below $82 per barrel, as worries regarding potential disruptions in the Middle East eased, and concerns about softening demand in China added to the downward pressure.

Brent futures recorded a decrease of 58 cents, settling at $81.50 per barrel, while U.S. West Texas Intermediate (WTI) slipped by 93 cents, or 1.2%, to $77.08.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 332 advancing stocks compared to 1941 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 experience significant losses while Nifty Smallcap plummets over 5%!

On Wednesday, the Indian Frontline indices experienced substantial losses while Broader indices experienced significant declines continuing its 3-day streak.

Major Indices Performance:

On Wednesday, the Indian Frontline indices experienced substantial losses while Broader indices experienced significant declines continuing its 3-day streak. The Sensex closed substantially lower by 1.23%, closing at 72,761.89 level, while the Nifty closed significantly lower by 1.51% closing at 21,997.70 level. Similarly Nifty Bank experienced moderate losses of 0.64% and closed at 46,981.30 level. Furthermore, this performance was magnified in the broader market with Nifty Midcap plunging by 4.4%, while Nifty Smallcap substantially declined by 5.28%.

Sectoral Performance:

Within the sectoral landscape, Nifty FMCG was the only major sector which traded marginally positive while Nifty Metal plummeted over 5.5%, followed Nifty Media, Nifty Energy and Nifty Realty were among the major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, ITC stood out as the leading gainer with a significant surge of over 4%, followed by ICICI Bank, Kotak Bank and Cipla. Conversely, Power Grid, Coal India, Adani Ports and Adani Enterprises found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, CG Power and Industrial Solutions, AU Small Finance Bank, Kalyan Jewellers and Intellect Design Arena, registered substantial gains, standing among the top gainers. On the flip side, NHPC, Macrotech Developers, Rites and BLS International Services have witnessed major declines, ranking among the top losers.

India’s February CPI Inflation at 5.09%, while Core Inflation Drops to 3.3%:

India’s Consumer Price Index (CPI) inflation for February remained steady at 5.09%, as per data unveiled by the Ministry of Statistics and Programme Implementation on March 12. This figure marks a slight drop from January’s 5.10%.

Despite the consecutive sixth month within the Reserve Bank of India’s (RBI) tolerance range of 2% to 6%, the inflation rate has surpassed the medium-term target of 4% for 53 months consecutively. Additionally, core inflation declined further to 3.3% during the same period.

Oil Prices:

On Wednesday, oil prices climbed as anticipation of robust global demand, particularly from the top consumer, the United States, bolstered sentiment. Moreover, despite some lingering concerns over inflation in the United States, expectations remained intact that the Federal Reserve might initiate rate cuts soon.

Brent futures for May delivery saw an increase of 36 cents, or 0.44%, reaching USD 2.28 per barrel. Similarly, the April U.S. West Texas Intermediate (WTI) crude contract rose by 38 cents, or 0.49%, settling at USD 77.94.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 88 advancing stocks compared to 2202 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.