Stock Market : Closing Bell

[AngelOne]

Closing Bell- 14 March 2024: Frontline indices close higher while Nifty Smallcap soars over 3%!

Major Indices Performance:

On Thursday, the Indian Frontline indices experienced moderate gains while Broader indices showed robust performance breaking its 3-day losing streak. The Sensex closed moderately higher by 0.46%, closing at 73,097.28 level, while the Nifty also closed moderately higher by 0.68% closing at 22,146.65 level. Whereas Nifty Bank experienced a moderate loss of 0.41% and closed at 46,789.95 level. Furthermore, the broader market substantially gained with Nifty Midcap surging by 2.02%, while Nifty Smallcap soared by 3.45%.

Sectoral Performance:

Within the sectoral landscape, Nifty Metal surged by around 2% followed by Nifty IT, Nifty Media and Nifty Energy while Nifty Bank and Nifty Financial Services were among the 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 6%, followed by Adani Ports, Hero Motocorp and Hindalco. Conversely, Axis Bank, Indusind Bank, JSW Steel and Bajaj Finance found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Fertilizers & Chemicals Travancore, Indian Railway Finance Corporation, BLS International Services and SJVN, registered substantial gains, standing among the top gainers. On the flip side, Prestige Estate, Indian Bank, IIFL Finance and Bikaji Foods have witnessed major declines, ranking among the top losers.

SBI Joins Paytm for UPI Services:

State Bank of India, India’s largest lender, has teamed up with One97 Communications, the company behind the Paytm brand and app, to facilitate consumer UPI payments. Previously, Paytm’s UPI operations were supported by Paytm Payments Bank Limited (PPBL). However, following regulatory action by the RBI against PPBL, Paytm has sought bank partnerships to operate as a third-party application provider (TPAP), similar to PhonePe and Google Pay.

Oil Prices:

On Wednesday, oil prices surged approximately 3%, reaching a four-month peak, fuelled by an unexpected decline in US crude inventories, a significant drop in US gasoline stocks, and concerns over potential supply disruptions following Ukrainian attacks on Russian refineries.

Brent futures climbed by $2.11, marking a 2.6% increase, settling at $84.03 per barrel, while US West Texas Intermediate (WTI) crude saw a rise of $2.16, or 2.8%, closing at $79.72.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1832 advancing stocks compared to 445 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.

[AngelOne]

Closing bell: Frontline indices experience declines with Nifty Auto among the top losers!

On Friday, the Indian Frontline indices experienced moderate declines while Broader indices showed mixed performance.

Major Indices Performance:

On Friday, the Indian Frontline indices experienced moderate declines while Broader indices showed mixed performance. The Sensex closed moderately lower by 0.62%, closing at 72,643.43 level, while the Nifty also closed lower by 0.56% closing at 22,023.35 level. Similarly Nifty Bank experienced a moderate loss of 0.42% and closed at 46,594.10 level. Furthermore, the broader market showed mixed performance with Nifty Midcap declining by 0.42%, while Nifty Smallcap moderately gained by 0.39%.

Sectoral Performance:

Within the sectoral landscape, Nifty Metal and Nifty Energy were among the top gainers while Nifty Auto, Nifty Energy, Nifty Pharma and Nifty IT were among the major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, UPL stood out as the leading gainer with a significant surge of over 2.5%, followed by Bharti Airtel, Bajaj Finance and HDFC Life. Conversely, M&M, BPCL, Coal India and Tata Motors found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, One97 Communications, JSW Energy, Cochin Shipyard and Apar Industries, registered substantial gains, standing among the top gainers. On the flip side, Hindustan Petroleum, Apollo Tyre, Amber Enterprises and Intellect Design Arena have witnessed major declines, ranking among the top losers.

US Retail Sales Rebound and Weekly Jobless Claims Decline:

In February, US retail sales showed a rebound, primarily led by increased sales at auto dealerships and gasoline service stations. However, consumer spending is slowing due to inflation and higher borrowing costs. Retail sales rose by 0.6%, with January’s data revised downward. Meanwhile, initial claims for state unemployment benefits fell slightly to 209,000, lower than economists’ expectations. Nonetheless, the number of people receiving benefits after an initial week of aid increased, indicating mixed signals regarding hiring trends.

Oil Prices:

Oil prices dipped slightly on Friday but were set to record a nearly 4% gain for the week. This uptick was fuelled by significant declines in US crude and fuel inventories, drone strikes on Russian refineries, and increased energy demand forecasts, all of which boosted prices.

Brent crude oil futures for May retreated by 41 cents, or 0.5%, to $85.01 a barrel by 1234 GMT, following Thursday’s milestone of crossing $85 a barrel for the first time since November. Meanwhile, U.S. West Texas Intermediate (WTI) crude for April slipped by 32 cents, or 0.4%, to $80.94.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 938 advancing stocks compared to 1326 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.

[AngelOne]

Closing bell: Frontline indices close higher, while Nifty Metal surges over 2.5%!

On Monday, the Indian Frontline indices experienced moderate gains whereas the Broader indices showed losses, amidst a spike in volatility.

Major Indices Performance:

On Monday, the Indian Frontline indices experienced moderate gains whereas the Broader indices showed losses, amidst a spike in volatility. The Sensex surged moderately higher by 0.14%, closing at 72,748.42 level, while the Nifty also moderately gained by 0.15% closing at 22,055.70 level. Whereas Nifty Bank experienced a marginal loss of 0.04% and closed at 46,575.90 level. Furthermore, the broader market showed underperformance with Nifty Midcap declining by 0.39%, while Nifty Smallcap moderately declined by 0.57%.

Sectoral Performance:

Within the sectoral landscape, Nifty Metal, Nifty Auto, Nifty Media and Nifty Energy were among the top gainers while Nifty IT, Nifty FMCG, Nifty Financial Services and Nifty Bank 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 5.5%, followed by M&M, JSW Steel and Tata Motors. Conversely, Tata Consumer Product, UPL, Infosys and TCS found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Macrotech Developers, One97 Communications, Global Health and Zensar Technologies, registered substantial gains, standing among the top gainers. On the flip side, Coforge, Prestige Estate, BLS International Services and Housing & Urban Development Corporation have witnessed major declines, ranking among the top losers.

India’s February Trade Deficit Widens, Exports Reach 11-Month High:

The commerce ministry reported that India’s merchandise trade deficit expanded to $18.71 billion in February, up from $17.49 billion in January. In comparison, the trade deficit was recorded at $16.57 billion in February 2023.

Despite the widening trade deficit, exports surged by 11.9% year-on-year to reach $41.40 billion, marking an 11-month high. Imports also increased by 12.2%, totalling $60.11 billion during the same period.

Oil Prices:

In early Asian trading on Monday, oil prices saw a slight increase, consolidating gains from the previous week, during which prices surged by almost 4% amid perceptions of tightening supply.

Brent crude oil futures for May delivery edged up by 3 cents to $85.37 a barrel, while the April contract for U.S. West Texas Intermediate (WTI) crude rose by 10 cents to $81.14.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1128 advancing stocks compared to 1144 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.

[AngelOne]

Closing bell: Frontline indices decline while Broader indices plummet over 1%!

On Tuesday, the Indian Frontline indices experienced substantial declines whereas the Broader indices also showed major losses.

Major Indices Performance:

On Tuesday, the Indian Frontline indices experienced substantial declines whereas the Broader indices also showed major losses. The Sensex substantially declined by 1.01%, closing at 72,012.05 level, while the Nifty also plunged by 1.08% closing at 21,817.45 level. Similarly, Nifty Bank experienced a moderate decline of 0.41% and closed at 46,384.80 level. Furthermore, the broader market showed significant underperformance as Nifty Midcap declined by 1.24%, while Nifty Smallcap plummeted by 1.19%.

Sectoral Performance:

Within the sectoral landscape, all the major sectors underperformed with Nifty IT, Nifty Media, Nifty Pharma and Nifty FMCG which were among the major sectors which declined.

Top Gainers and Losers:

Among the Nifty 50, Bajaj Finance stood out as the leading gainer with a significant surge of over 1%, followed by Bajaj Auto, Kotak Bank and Hindalco. Conversely, BPCL, TCS, Cipla and Tata Consumer Product found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Torrent Power, One97 Communications, Triveni Turbine and Mangalore Refinery and Petrochemicals, registered substantial gains, standing among the top gainers. On the flip side, Indus Towers, Patanjali Foods, Amber Enterprises and Intellect Design Arena have witnessed major declines, ranking among the top losers.

Tata Sons to sell 0.65% stake in TCS for $1.1 billion:

Tata Sons has proposed to divest 0.65% of its stake in Tata Consultancy Services Ltd (TCS), amounting to 2.34 crore shares, at a price of Rs 4,001 per share through block deals, aiming to raise $1.1 billion.

The floor price signifies a 3.6% discount compared to the latest trading price. On March 18, TCS’ shares on BSE concluded 1.8% lower at Rs 4,144.25, with an intraday high of Rs 4,254.75.

As of December 31, 2023, promoters retained a 72.41% stake in TCS, with Tata Sons holding 72.38%, while Tata Investment Corporation owned the remaining share. Citigroup and JPMorgan are purportedly acting as joint bookrunners for the proposed share sale.

Oil Prices:

Early on Tuesday, oil prices experienced a slight decline following gains from the previous trading session, attributed partly to the anticipation of increased supply from Russia and concerns regarding potentially sluggish downstream demand in sectors like jet fuel.

Brent crude oil futures contract for May delivery dipped by 16 cents to $86.73 per barrel, while the US West Texas Intermediate (WTI) contract dropped by 13 cents to $82.03. Meanwhile, the WTI April contract, set to expire tomorrow, decreased by 16 cents to $82.56.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 521 advancing stocks compared to 1755 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.

[AngelOne]

Closing bell: Frontline indices close on a positive note with Nifty Energy among the top gainers!

On Wednesday, the Indian Frontline indices experienced moderate gains while the Broader indices closed on a mixed note.

Major Indices Performance:

On Wednesday, the Indian Frontline indices experienced moderate gains while the Broader indices closed on a mixed note. The Sensex moderately gained by 0.12%, closing at 72,101.69 level, while the Nifty also gained by 0.1% closing at 21,839.69 level. Whereas, Nifty Bank experienced a moderate decline of 0.16% and closed at 46,310.90 level. Furthermore, the broader market showed mixed performance as Nifty Midcap marginally declined by 0.01%, while Nifty Smallcap gained by 0.05%.

Sectoral Performance:

Within the sectoral landscape, Nifty Energy, Nifty Realty, Nifty FMCG and Nifty Auto are among the top gainers while Nifty Metal, Nifty Financial Services, Nifty Pharma and Nifty Media were among the major sectors which declined.

Top Gainers and Losers:

Among the Nifty 50, Eicher Motors stood out as the leading gainer with a significant surge of over 4%, followed by Maruti, Power Grid and Nestle India. Conversely, Tata Steel, Tata Consumer Product, Tata Motors and Axis Bank found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Indus Towers, CG Power and Industrial Solutions, Praj Industries and Angel One, registered substantial gains, standing among the top gainers. On the flip side, Tata Chemicals, Gland Pharma, IIFL Finance and Elgi Equipments have witnessed major declines, ranking among the top losers.

Direct Tax Collections Surge in FY24:

In FY24, there was a notable increase in gross direct tax collections, rising by 18.74% to reach Rs 22,27,067 crore, while net direct tax collections also experienced a significant uptick of 19.88% to Rs 18,90,259 crore compared to the previous year.

Advance tax collections for FY24 demonstrated robust growth, climbing by 22.3% to Rs 9,11,534 crore year-on-year.

Oil Prices:

During early Asian trading on Wednesday, oil prices saw a slight decline, influenced by a stronger dollar which dampened investor interest. Additionally, traders opted to take some profits off the table after recent rallies led benchmarks to reach multi-month highs in the past two sessions.

Brent crude futures for May delivery dropped by 19 cents, or 0.2%, to $87.19 per barrel. Similarly, US West Texas Intermediate futures for April delivery, which are set to expire on Wednesday’s settlement, decreased by 35 cents, or 0.4%, to $83.12 per barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 983 advancing stocks compared to 1263 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.

[AngelOne]

Closing bell: Frontline indices close on a positive note while Nifty Smallcap surged over 2.5%!

On Thursday, the Indian Frontline indices experienced substantial gains while the Broader indices outperformed.

Major Indices Performance:

On Thursday, the Indian Frontline indices experienced substantial gains while the Broader indices outperformed. The Sensex substantially gained by 0.75%, closing at 72,641.19 level, while the Nifty also gained by 0.79% closing at 22,011.95 level. Similarly, Nifty Bank experienced a significant gain of 0.81% and closed at 46,684.90 level. Furthermore, the broader market outperformed as Nifty Midcap significantly surged by 2.43%, while Nifty Smallcap soared by 2.51%.

Sectoral Performance:

Within the sectoral landscape, Nifty Realty, Nifty Metal, Nifty PSU Bank and Nifty Energy were among the top gainers while there were no major sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, BPCL stood out as the leading gainer with a significant surge of over 3.5%, followed by NTPC, Power Grid and Tata Steel. Conversely, Bharti Airtel, HDFC Life, ONGC and Maruti 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, Power Finance Corporation, BSE and IRB Infrastructure Developers, registered substantial gains, standing among the top gainers. On the flip side, One97 Communications, Max Healthcare Insurance, Radico Khaitan and Aegis Logistics have witnessed major declines, ranking among the top losers.

Federal Reserve Holds Steady on Key Lending Rates:

The US Federal Reserve has opted to keep its key lending rate unchanged, signaling a commitment to its current monetary policy despite growing concerns over inflation. Despite maintaining their expectation for three quarter-point rate cuts in the current year, policymakers anticipate fewer cuts in 2025 compared to previous forecasts.

This decision marks the fifth consecutive meeting where officials have chosen to leave the benchmark federal funds rate within the range of 5.25% to 5.5% , the highest level since 2001. While policymakers affirm their intention to implement rate cuts in 2024, they now project only three reductions in 2025, down from the four anticipated in December, as indicated by the median projection.

Oil Prices:

Oil prices staged a recovery on Thursday, reversing losses from the previous session, buoyed by declines in US crude and gasoline inventories, which provided support to the market. This came after indications that the US Federal Reserve might maintain higher interest rates for a longer duration, dampening the outlook for future fuel demand.

Brent crude oil futures contract for May settlement increased by 0.6%, or 52 cents, reaching $86.47 a barrel, following a decline of 1.6% on Wednesday. Similarly, US West Texas Intermediate futures for May delivery rose by 0.5%, or 45 cents, to $81.72 a barrel, rebounding from a 1.6% drop in the previous session. The April contract expired on Wednesday, closing down by 2.1% at $81.68.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1893 advancing stocks compared to 389 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.

[AngelOne]

Closing bell: Frontline indices close on a lower note while Nifty Midcap surges over 1%!

On Tuesday, the Indian Frontline indices experienced moderate declines while the Broader indices significantly outperformed.

Major Indices Performance:

On Tuesday, the Indian Frontline indices experienced moderate declines while the Broader indices significantly outperformed. The Sensex moderately declined by 0.5%, closing at 72,470.30 level, while the Nifty also plunged by 0.42% closing at 22,004.70 level. Similarly, Nifty Bank experienced a moderate decline of 0.56% and closed at 46,600.20 level. Furthermore, the broader market outperformed as Nifty Midcap significantly gained by 1.05%, while Nifty Smallcap soared by 0.41%.

Sectoral Performance:

Within the sectoral landscape, Nifty Realty, Nifty Metal, Nifty PSU Bank and Nifty Energy were among the top gainers while Nifty Media, Nifty IT, Nifty Bank and Nifty Financial Services were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Bajaj Finance stood out as the leading gainer with a significant surge of over 2%, followed by Hindalco, Britannia and Adani Ports. Conversely, Power Grid, Eicher Motors, Bharti Airtel and Wipro found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Torrent Power, Dr Lal Path Labs, Apar Industries and Finolex Cables, registered substantial gains, standing among the top gainers. On the flip side, Fertilizers & Chemicals Travancore, Patanjali Foods, JBM Auto and Laxmi Organic Industries have witnessed major declines, ranking among the top losers.

ICICI Securities received an administrative warning from SEBI:

Following an inspection of ICICI Securities’ books and records for its merchant banking activities in December 2023, the Securities and Exchange Board of India (SEBI) issued an administrative warning to the company. Despite this warning letter, there is no impact on the financial, operational, or other activities of the company.

Oil Prices:

Oil prices were poised for a second consecutive day of gains on Tuesday, following a surge of over a dollar, driven by expectations of tighter supply. This increase was fuelled by Russian production cuts and attacks on Russian refineries.

Brent crude advanced by 23 cents to $86.98 a barrel, while US crude futures rose by 28 cents to $82.23. The rise in crude oil prices was attributed to supply concerns and ongoing tensions in the Middle East. Both contracts had settled $1.32 higher in the previous trading session.

Russia has instructed its oil companies to decrease output to comply with the Organization of Petroleum Exporting Countries (OPEC) target of 9 million barrels per day (bpd). In late February, Russia’s oil production had been around 9.5 million barrels per day.

Meanwhile, Ukrainian attacks on Russian oil refineries persist. A fire at Russia’s Kuibyshev refinery over the weekend led to the closure of half of its capacity.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 677 advancing stocks compared to 1437 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.

[AngelOne]

Closing bell: Frontline indices close on a higher note with Nifty Realty among the top gainers!

On Wednesday, the Indian Frontline indices experienced substantial gains while the Broader indices also closed on a positive note.

Major Indices Performance:

On Wednesday, the Indian Frontline indices experienced substantial gains while the Broader indices also closed on a positive note. The Sensex substantially gained by 0.73%, closing at 72,996.31 level, while the Nifty also surged by 0.54% closing at 22,123.65 level. Similarly, Nifty Bank experienced a moderate gain of 0.4% and closed at 46,785.95 level. Furthermore, the broader market showed positive performance as Nifty Midcap marginally gained by 0.06%, while Nifty Smallcap soared by 0.96%.

Sectoral Performance:

Within the sectoral landscape, Nifty Realty, Nifty Energy, Nifty Auto and Nifty Financial Services were among the top gainers while Nifty PSU Bank, Nifty IT, Nifty Media and Nifty FMCG were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Reliance stood out as the leading gainer with a significant surge of over 3.5%, followed by Bajaj Auto, Maruti and Titan. Conversely, UPL, Hero Motocorp, Tata Consumer Product and Wipro found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Mankind Pharma, KPIT Technologies, IIFL Finance and Angel One, registered substantial gains, standing among the top gainers. On the flip side, REC, PB Fintech, CDSL and Computer Age Management Services have witnessed major declines, ranking among the top losers.

India’s Current Account Deficit Narrows to $10.5 Billion:

India’s current account deficit (CAD) for the third quarter of 2023-24 has shown improvement, narrowing to $10.5 billion. This data was disclosed by the Reserve Bank of India (RBI) on March 26.

During October-December, the CAD accounted for 1.2% of India’s GDP, reflecting a positive trajectory compared to previous quarters. In the preceding quarter of July-September 2023, the deficit was recorded at $11.4 billion, constituting 1.3% of GDP. The figures from October-December 2022 indicated a deficit of $16.8 billion, amounting to 2.0% of GDP.

The RBI noted that the current account deficit as a percentage of GDP for Q2 of 2023-24 was revised upward to 1.3% from the previously reported 1.0%. This adjustment was attributed to an upward revision of customs data on merchandise imports.

Oil Prices:

Oil prices experienced a second consecutive day of decline on Wednesday following reports of a surge in crude stockpiles in the US, the world’s largest oil consumer. Additionally, indications emerged that major oil producers are unlikely to alter their output policy at an upcoming technical meeting next week.

In the oil market, Brent crude futures for May decreased by 69 cents, or 0.8%, reaching $85.56 a barrel. The May contract is scheduled to expire on Thursday, while the more actively traded June contract saw a decline of 60 cents, or 0.7%, settling at $85.03.

US West Texas Intermediate (WTI) crude futures for May delivery fell by 55 cents, or 0.7%, to $81.07.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 907 advancing stocks compared to 1198 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.

[AngelOne]

Frontline indices close on a higher note while Nifty PSU Bank surges over 2.5%!

On Thursday, the Indian Frontline indices experienced substantial gains while the Broader closed on a higher note.

Major Indices Performance:

On Thursday, the Indian Frontline indices experienced substantial gains while the Broader closed on a higher note. The Sensex substantially gained by 0.9%, closing at 73,651.35 level, while the Nifty also surged by 0.92% closing at 22,326.90 level. Similarly, Nifty Bank experienced a significant gain of 0.72% and closed at 48,075.75 level. Furthermore, the broader market showed positive performance as Nifty Midcap moderately gained by 0.5%, while Nifty Smallcap marginally surged by 0.04%.

Sectoral Performance:

Within the sectoral landscape, Nifty PSU Bank, Nifty Auto, Nifty Metal and Nifty Pharma were among the top gainers while Nifty Media was the only major sector which underperformed.

Top Gainers and Losers:

Among the Nifty 50, Bajaj Finserv stood out as the leading gainer with a significant surge of over 3.5%, followed by Grasim, Hero Motocorp and Bajaj Finance. Conversely, Axis Bank, Reliance, Tech Mahindra and Britannia found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Indian Bank, Bank of India, Aegis Logistics and VIP Industries, registered substantial gains, standing among the top gainers. On the flip side, Torrent Power, IDFC First Bank, IIFL Finance and Sonata Software have witnessed major declines, ranking among the top losers.

Government Borrowing Plans:

The Centre intends to raise Rs 7.5 lakh crore through the issuance of government securities during the first half of FY25, according to an announcement made by the finance ministry on March 27.

This borrowing constitutes approximately 53.08% of the full-year estimate, as per the Interim Budget for 2024-25, which projected the Centre’s gross borrowing from the markets to be Rs 14.13 lakh crore.

The Reserve Bank of India (RBI) oversees the borrowing program on behalf of the government, conducting bond auctions every Friday to facilitate the process.

Oil Prices:

On Thursday, global oil prices saw a slight uptick, rebounding from two consecutive sessions of decline, as investors reevaluated the latest US crude oil and gasoline inventories data and resumed buying activity.

Brent crude futures for May rose by 29 cents, or 0.34%, reaching $86.38 per barrel, while the June contract, which saw more active trading, increased by 28 cents, or 0.33%, to $85.69. The May contract is set to expire on Thursday. US West Texas Intermediate (WTI) crude futures for May delivery also saw an increase of 41 cents, or 0.50%, reaching $81.76 per barrel.

In the preceding session, oil prices faced downward pressure following the unexpected rise in US crude oil and gasoline inventories last week, attributed to increased crude imports and sluggish gasoline demand, as reported by the Energy Information Administration.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1096 advancing stocks compared to 907 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.

[AngelOne]

Frontline indices make new highs while Nifty Smallcap surges over 3%!

On Monday, the Frontline indices experienced substantial gains and reached new all-time high levels while the Broader indices also experienced significant gains.

Major Indices Performance:

On Monday, the Frontline indices experienced substantial gains and reached new all-time high levels while the Broader indices also experienced significant gains. The Sensex closed higher by 0.49%, after reaching its new all-time high of 74,254.62 level, while the Nifty also surged by 0.61% after making a new all-time high of 22,529.95 level. Similarly, Nifty Bank experienced significant gains of 0.96% and closed at 47,578.25 level. Furthermore, the broader market showed positive performance as Nifty Midcap significantly gained by 1.74%, while Nifty Smallcap soared by 3.26%.

Sectoral Performance:

Within the sectoral landscape, Nifty Media, Nifty Realty, Nifty Metal and Nifty PSU Bank were among the top gainers while Nifty Auto and Nifty FMCG were the only sectors which underperformed.

Top Gainers and Losers:

Among the Nifty 50, JSW Steel stood out as the leading gainer with a significant surge of over 5%, followed by Tata Steel, Divi’s Laboratories and Shriram Finance. Conversely, Eicher Motors, Titan, Nestle India and Bajaj Auto found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Prestige Estate, Indus Towers, PNB Housing Finance and Welspun Living, registered substantial gains, standing among the top gainers. On the flip side, CG Power and Industrial Solutions, Sona BLW Precision Forgings, Finolex Cables and CreditAccess Grameen have witnessed major declines, ranking among the top losers.

Surge in India’s Core Sector Growth:

In February, India’s core sector witnessed a notable surge, with an impressive growth rate of 6.7%, as revealed by data from the Ministry of Commerce and Industry on March 28.

The growth in these eight key infrastructure industries, encompassing coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas, marks a significant improvement from the revised 4.1% growth recorded in January. However, it is slightly lower than the 7.4% growth observed in February 2023.

Despite this surge, the cumulative growth rate in the output of these sectors has slowed to 7.7% in April-January this fiscal year, compared to 8.2% in April-February 2022-23. Notably, the output growth of fertilisers remained in the negative zone.

Oil Prices:

On Monday, oil prices experienced a minor decline, maintaining most of their recent gains fueled by prospects of a constrained supply due to OPEC+ production cuts, assaults on Russian refineries, and positive manufacturing data from China.

Brent crude dipped by 17 cents, or 0.2%, to $86.83 a barrel, after a 2.4% increase the previous week. U.S. West Texas Intermediate crude was priced at $83.06 a barrel, dropping 11 cents, or 0.1%, following a 3.2% rise last week.

Trading volumes were anticipated to be low due to the Easter holiday closures in several countries. Continuing their upward trend for the third month, both benchmarks have seen consistent growth, with Brent sustaining prices above $85 a barrel since mid-March.

This trend follows the decision by the Organization of the Petroleum Exporting Countries and their allies (OPEC+) to continue production cuts until the end of June, potentially tightening the crude supply throughout the summer in the northern hemisphere.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1888 advancing stocks compared to 233 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.

[AngelOne]

Closing bell: Frontline indices close on a lower note while Broader indices outperform!

On Tuesday, the Frontline indices experienced marginal declines while Broader indices significantly outperformed.

Major Indices Performance:

On Tuesday, the Frontline indices experienced marginal declines while Broader indices significantly outperformed. The Sensex marginally declined by 0.15%, closing at 73,903.91 level, while the Nifty also declined by 0.04% closing at 22,453.30 level. Similarly, Nifty Bank experienced marginal declines of 0.07% and closed at 47,545.45 level. Furthermore, the broader market showed positive performance as Nifty Midcap significantly gained by 1.16%, while Nifty Smallcap soared by 1.22%.

Sectoral Performance:

Within the sectoral landscape, Nifty Media, Nifty Metal, Nifty Auto and Nifty Realty were among the top gainers while Nifty IT, Nifty Financial Services and Nifty Pharma were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Tata Consumer Product stood out as the leading gainer with a significant surge of over 4%, followed by M&M, Bajaj Auto and BPCL. Conversely, Hero Motocorp, Kotak Bank, HCL Technologies and ICICI Bank found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Aditya Birla Fashion and Retail, Aditya Birla Capital, Tanla Platforms and NCC, registered substantial gains, standing among the top gainers. On the flip side, Vodafone Idea, Indus Towers, PNB Housing and Indiamart Intermesh have witnessed major declines, ranking among the top losers.

Record-Breaking GST Collection:

The finance ministry announced on April 1 that India’s goods and services tax (GST) collection for March 2024 reached an impressive Rs 1.78 lakh crore, marking the second-highest collection ever. This achievement represents a significant 11.5% year-on-year growth.

Furthermore, for the entire fiscal year 2023-24, gross GST collection amounted to Rs 20.14 lakh crore, reflecting an 11.7% increase compared to the previous year.

Oil Prices:

During early Asian trading on Tuesday, oil prices advanced, supported by indications of enhanced demand and escalating tensions in the Middle East. This momentum follows a surge in US futures to a five-month high during the previous session. Brent futures for June delivery increased by 37 cents to $87.79 a barrel, while the May contract for US West Texas Intermediate (WTI) crude futures climbed by 32 cents to $84.03 a barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1619 advancing stocks compared to 497 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.

[AngelOne]

Closing bell: Frontline indices close on a lower note while Nifty Smallcap surges over 1%!

On Wednesday, the Frontline indices experienced marginal declines while Broader indices outperformed.

Major Indices Performance:

On Wednesday, the Frontline indices experienced marginal declines while Broader indices outperformed. The Sensex closed marginally lower by 0.04%, closing at 73,876.82 level, while the Nifty also declined by 0.08% closing at 22,434.65 level. Whereas Nifty Bank experienced marginal gains of 0.17% and closed at 47,624.25 level. Furthermore, the broader market showed positive performance as Nifty Midcap moderately gained by 0.52%, while Nifty Smallcap soared by 1.16%.

Sectoral Performance:

Within the sectoral landscape, Nifty PSU Bank, Nifty IT, Nifty Media and Nifty Financial Services were among the top gainers while Nifty Realty, Nifty FMCG, Nifty Auto and Nifty Pharma were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Shriram Finance stood out as the leading gainer with a significant surge of over 3.5%, followed by NTPC, Divi’s Laboratories and TCS. Conversely, Nestle India, Bajaj Auto, Dr Reddy’s Laboratories and Kotak Bank found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Mazagon Dock Shipbuilders, JSW Energy, Cochin Shipyards and Manappuram Finance, registered substantial gains, standing among the top gainers. On the flip side, Macrotech Developers, Godrej Properties, NCC and Shyam Metalics and Energy have witnessed major declines, ranking among the top losers.

World Bank raises India’s FY25 Growth Projections:

The World Bank, on April 2, revised India’s GDP growth projection for FY25 upwards by 20 basis points to 6.6%.

While the global agency’s forecast for FY25 is notably lower than the estimated real GDP growth of 7.5% for the current financial year, it anticipates growth to accelerate in subsequent years as a result of significant public investment over the past decade yielding positive outcomes.

According to India’s statistics ministry’s second advance estimate of GDP for 2023-24, the growth rate for the current year is projected at 7.6%, marking a 30-basis point increase from its initial estimate of 7.3%.

Oil Prices:

On Wednesday, oil prices saw an uptick as concerns over tightening supplies intensified, driven by a more significant than anticipated drop in U.S. crude stockpiles and rising geopolitical tensions.

Brent futures for June delivery increased by 20 cents, or 0.22 per cent, reaching $89.12 per barrel, and U.S. West Texas Intermediate (WTI) crude futures for May went up by 17 cents, or approximately 0.2 per cent, to $85.32 a barrel.

Both benchmarks had reached their highest levels since October the day before.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1564 advancing stocks compared to 552 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.

[AngelOne]

Closing bell: Frontline indices close on a positive note while Nifty IT soars over 1%!

On Thursday, the Frontline indices experienced moderate gains while Broader closed on a positive note.

Major Indices Performance:

On Thursday, the Frontline indices experienced moderate gains while Broader closed on a positive note. The Sensex closed moderately higher by 0.47%, closing at 74,227.64 level, while the Nifty also surged by 0.36% closing at 22,514.65 level. Similarly Nifty Bank experienced substantial gains of 0.92% and closed at 48,060.80 level. Furthermore, the broader market showed positive performance as Nifty Midcap marginally gained by 0.01%, while Nifty Smallcap soared by 0.45%.

Sectoral Performance:

Within the sectoral landscape, Nifty IT, Nifty Bank, Nifty Financial Services and Nifty Auto were among the top gainers while Nifty PSU Bank, Nifty Energy, Nifty FMCG and Nifty Pharma were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, HDFC Bank stood out as the leading gainer with a significant surge of over 3%, followed by Eicher Motors, Tech Mahindra and Titan. Conversely, ONGC, Shriram Finance, Adani Ports and BPCL found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, IPCA Laboratories, Bandhan Bank, CESC and Ujjivan Small Finance Bank, registered substantial gains, standing among the top gainers. On the flip side, APL Apollo, Hindustan Petroleum Corporation, NCC and Angel One and Redington have witnessed major declines, ranking among the top losers.

NSE Announces Launch New Indices Across Capital Markets and F&O Segments:

The National Stock Exchange (NSE) has unveiled plans to introduce four new indices, effective April 8, across both the capital markets and Futures & Options segments.

These indices include Nifty Tata Group 25% Cap, Nifty 500 Multicap India Manufacturing 50:30:20, Nifty 500 Multicap Infrastructure 50:30:20, and Nifty MidSmall Healthcare.

According to a circular issued by NSE, these indices will be accessible to F&O members via NEAT+ terminals under the multiple index inquiry screen.

Oil Prices:

Oil prices climbed in early Asian trading on Thursday due to concerns about reduced supply. Major producers are maintaining output cuts, and there are indications of stronger economic growth in the US, the world’s largest oil consumer.

Brent futures for June increased by 15 cents, or 0.2%, settling at $89.51 a barrel. Similarly, US West Texas Intermediate (WTI) futures for May rose by 15 cents, or 0.2%, reaching $85.59 a barrel. Both the June Brent contract and the May WTI contract have experienced gains for the past four days, closing on Wednesday at their highest levels since the end of October.

The increase in oil prices is attributed to several factors, including Ukraine’s attacks on Russian refineries, which have disrupted fuel supply. Additionally, concerns persist about the potential expansion of the Israel-Hamas conflict in Gaza to involve Iran, potentially disrupting supplies in the crucial Middle East region.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1304 advancing stocks compared to 806 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.

[AngelOne]

Closing bell: Frontline indices close on a mixed note while Nifty Realty soared over 1.5%!

On Friday, the Frontline indices closed the trading day on mixed note while Broader indices substantially outperformed, with Nifty Realty among the top gainers.

Major Indices Performance:

On Friday, the Frontline indices closed the trading day on mixed note while Broader indices substantially outperformed, with Nifty Realty among the top gainers. The Sensex closed marginally higher by 0.03%, closing at 74,248.22 level, while the Nifty closed on a flat note at 22,513.70 level. Whereas Nifty Bank experienced substantial gains of 0.9% and closed at 48,493.05 level. Furthermore, the broader market showed positive performance as Nifty Midcap moderately gained by 0.56%, while Nifty Smallcap soared by 0.84%.

Sectoral Performance:

Within the sectoral landscape, Nifty Realty, Nifty Bank, Nifty Financial Services and Nifty PSU Bank were among the top gainers while Nifty IT, Nifty Media, Nifty Auto and Nifty Energy were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Kotak Bank stood out as the leading gainer with a significant surge of over 2%, followed by SBI Life, HDFC Bank and Bajaj Finserv. Conversely, Ultratech Cement, Grasim, Bajaj Auto and Bajaj Finance found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Indraprastha Gas, Supreme Industries, IIFL Finance and Aavas Financiers, registered substantial gains, standing among the top gainers. On the flip side, Max Health Insurance, Dalmia Bharat, Birlasoft and Intellect Design Arena have witnessed major declines, ranking among the top losers.

RBI MPC Maintains Status Quo Amid Upside Risks to Food Inflation:

The Reserve Bank of India’s Monetary Policy Committee (MPC) opted to keep the policy rate unchanged for the seventh consecutive time, showing vigilance toward potential food inflation increases. This decision halts the rate increase cycle initiated in April of the previous year, which saw six consecutive rate hikes totalling 250 basis points since May 2022.

The first bi-monthly monetary policy for the fiscal year 2024-25 was conducted, with a total of six MPC meetings scheduled starting April 1, 2024. The RBI retained its inflation projection at 4.5% for the current financial year, lower than the 5.4% recorded in the previous fiscal. Assuming normal monsoon conditions, the Consumer Price Index (CPI) inflation for the current year is estimated at 4.5%, with projections of 4.9% for Q1, 3.8% for Q2, 4.6% for Q3, and 4.5% for Q4.

RBI Governor Shaktikanta Das emphasized vigilance on food prices, particularly amid forecasts of higher temperatures from April to June. While Governor Das noted the deepening impact of fuel price reductions on inflation in the coming months, he also metaphorically described inflation as an “elephant” that seems to have retreated, expressing the RBI’s desire for it to remain subdued.

The central government has entrusted the RBI with the responsibility of maintaining Consumer Price Index (CPI)-based inflation at 4%, with a margin of 2% on either side. Retail inflation stood at 5.1% in February, with March’s inflation data scheduled for release next week.

Oil Prices:

On Friday, oil prices continued to rise, poised for a second consecutive weekly increase.

This uptrend was propelled by geopolitical tensions in Europe and the Middle East, apprehensions regarding tightening supply, and positive sentiments regarding global fuel demand growth amid improving economies.

Brent crude surged by 49 cents (0.5%) to reach $91.14 a barrel by 0108 GMT, while US West Texas Intermediate crude stood at $86.96 a barrel, marking a gain of 37 cents (0.4%). Both benchmarks closed at their highest levels since October on Thursday.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1271 advancing stocks compared to 831 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.

[AngelOne]

Closing bell: Frontline indices make record highs while Nifty Auto surges over 2%!

On Monday, the Frontline indices reached new all-time highs while Broader indices closed on a positive note, with Nifty Auto among the top gainers.

Major Indices Performance:

On Monday, the Frontline indices reached new all-time highs while Broader indices closed on a positive note, with Nifty Auto among the top gainers. The Sensex closed substantially higher by 0.67%, after making a new all-time high of 74,869.30 level, while the Nifty also reached a new all-time high of 22,679.30 level and closed higher by 0.68%. Similarly Nifty Bank experienced moderate gains of 0.18% and closed at 48,581.70 level. Furthermore, the broader market showed positive performance as Nifty Midcap marginally gained by 0.04%, while Nifty Smallcap soared by 0.32%.

Sectoral Performance:

Within the sectoral landscape, Nifty Auto, Nifty Realty, Nifty Energy and Nifty Metal were among the top gainers while Nifty PSU Bank, Nifty Media and Nifty IT were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Eicher Motors stood out as the leading gainer with a significant surge of over 4%, followed by Maruti, M&M and NTPC. Conversely, Adani Ports, Nestle India, Apollo Hospitals and Wipro found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, FSN E Commerce Ventures, Voltas, Exide Industries and Amara Raja Energy & Mobility, registered substantial gains, standing among the top gainers. On the flip side, Bandhan Bank, Union Bank, Great Eastern Shipping Company and Intellect Design Arena have witnessed major declines, ranking among the top losers.

Strong US Payrolls and Wage Growth Defy Expectations:

March saw US payrolls surpass expectations, accompanied by a steady increase in wages. This robust performance indicates a solid footing for the economy as it concludes the first quarter, potentially postponing anticipated interest rate cuts by the Federal Reserve this year.

According to the Labor Department’s Bureau of Labor Statistics, nonfarm payrolls surged by 303,000 jobs last month, with a minor revision to February’s data, showing 270,000 jobs added instead of the previously reported 275,000.

Oil Prices:

Oil prices dropped by over $1 per barrel on Monday, with Brent dipping below $90, as tensions in the Middle East eased following Israel’s withdrawal of additional soldiers from southern Gaza and its commitment to new discussions on a potential ceasefire in the ongoing six-month conflict.

Brent crude futures declined by $1.70, or 1.9%, to $89.47 a barrel. US West Texas Intermediate crude stood at $85.29 a barrel, marking a decrease of $1.62, or 1.9%.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 939 advancing stocks compared to 1180 declining stocks, signalling an 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.

[AngelOne]

Closing bell: Frontline indices decline with Nifty Metal among the top gainers!

On Tuesday, the Frontline indices concluded the trading day marginally lower while Broader indices closed on a mixed note, with Nifty Metal among the top gainers.

Major Indices Performance:

On Tuesday, the Frontline indices concluded the trading day marginally lower while Broader indices closed on a mixed note, with Nifty Metal among the top gainers. The Sensex marginally declined by 0.08%, closing at 74,683.71 level, while Nifty also declined by 0.1% and closed at 22,642.75 level. Similarly Nifty Bank experienced moderate gains of 0.31% and closed at 48,730.55 level. Furthermore, the broader market showed mixed performance as Nifty Midcap moderately declined by 0.31%, while Nifty Smallcap soared by 0.27%.

Sectoral Performance:

Within the sectoral landscape, Nifty Metal, Nifty Realty, Nifty Financial Services and Nifty Bank were among the top gainers while Nifty Media, Nifty PSU Bank, Nifty Energy and Nifty FMCG were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Apollo Hospitals stood out as the leading gainer with a significant surge of over 3%, followed by Hindalco, ICICI Bank and Bajaj Finserv. Conversely, Titan, Coal India, Hero Motocorp and Reliance found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Godrej Properties, Page Industries, Hindustan Copper and Castrol India, registered substantial gains, standing among the top gainers. On the flip side, SJVN, Gland Pharma, Angel One and BLS International Services have witnessed major declines, ranking among the top losers.

JLR Records Double-Digit Sales Growth in Q4FY24:

Tata Motors announced on April 08, 2024, that retail sales for Jaguar Land Rover (JLR) witnessed an impressive 11% year-on-year (YoY) increase, reaching 114,038 units during the fourth quarter of FY24. This growth was fuelled by heightened production levels and sustained global demand.

Comparing sales to the previous year, retail figures surged by 32% in the UK, 21% in North America, and 16% in international markets. However, sales in China experienced a 9% decline, while European sales dipped by 2% for the quarter, as outlined in the filing.

For the entire fiscal year, JLR reported a substantial 20% YoY increase in sales. Wholesale volumes totalled 401,303 units, marking a 25% rise, while retail sales amounted to 431,733 units, reflecting a growth of 22%, according to Tata Motors’ exchange filing.

Oil Prices:

In the early hours of Asian trading, oil prices experienced an uptick as the diminishing hopes for a ceasefire agreement between Israel and Hamas in Gaza contributed to heightened tensions in the Middle East.

Brent crude futures saw an increase of 40 cents, reaching $90.78 a barrel. Similarly, U.S. West Texas Intermediate (WTI) crude prices climbed by 35 cents, landing at $86.78 a barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 782 advancing stocks compared to 1315 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.

[AngelOne]

Closing bell: Frontline indices surge while Broader indices outperform!

On Wednesday, the Frontline indices concluded the trading day higher while Broader indices outperformed, with Nifty Media among the top gainers.

Major Indices Performance:

On Wednesday, the Frontline indices concluded the trading day higher while Broader indices outperformed, with Nifty Media among the top gainers. The Sensex moderately gained by 0.47%, closing at 75,038.15 level, while Nifty also surged by 0.49% and closed at 22,753.80 level. Similarly Nifty Bank experienced substantial gains of 0.53% and closed at 48,986.60 level. Furthermore, the broader market showed significant outperformance as Nifty Midcap substantially gained by 0.97%, while Nifty Smallcap soared by 0.73%.

Sectoral Performance:

Within the sectoral landscape, Nifty Media, Nifty PSU Bank, Nifty FMCG and Nifty Metal were among the top gainers while Nifty Pharma and Nifty Auto were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Coal India stood out as the leading gainer with a significant surge of over 3.5%, followed by BPCL, Kotak Bank and ITC. Conversely, HDFC Life, Cipla, Divi’s Laboratories and Maruti found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Hindustan Petroleum, Sun Tv Network, Data Patterns India and NMDC Steel, registered substantial gains, standing among the top gainers. On the flip side, Tata Communications, APL Apollo Tubes, Natco Pharma and Cochin Shipyard have witnessed major declines, ranking among the top losers.

Hinduja Group’s IIHL Enters into Joint Venture with Invesco:

IndusInd International Holdings Limited (IIHL), an investment holding company headquartered in Mauritius with diverse investments in banking and financial assets, has joined forces with Invesco Ltd. On April 9th, they announced a definitive agreement to establish a joint venture, with IIHL acquiring a 60% ownership interest in Invesco Asset Management India Limited.

Oil Prices:

In early Wednesday trading, oil prices remained stable following two consecutive days of declines. The market’s concerns about a potential tightening of supply, driven by the uncertainties surrounding ceasefire negotiations in Gaza, were balanced by an unexpected increase in U.S. crude inventories. Brent crude futures stood unchanged at $89.42 a barrel, while U.S. West Texas Intermediate (WTI) crude futures edged up by 2 cents to $85.25.

On Tuesday, Hamas indicated that an Israeli ceasefire proposal failed to satisfy the conditions of Palestinian militant groups in the Gaza conflict, stating they would further consider the proposal and communicate their decision through mediators.

The ongoing conflict raises fears of wider regional involvement, especially from Iran, a key supporter of Hamas and the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC).

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 1099 advancing stocks compared to 1006 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.

[AngelOne]

Closing bell: Frontline indices plummet over 1% with Nifty Pharma among the top losers!

On Friday, the Frontline indices concluded the trading day substantially lower while Broader indices also declined, with Nifty Pharma among the top losers.

Major Indices Performance:

On Friday, the Frontline indices concluded the trading day substantially lower while Broader indices also declined, with Nifty Pharma among the top losers. The Sensex substantially declined by 1.06%, closing at 74,244.90 level, while Nifty also plummeted by 1.03% and closed at 22,519.40 level. Similarly Nifty Bank experienced significant declines of 0.86% and closed at 48,564.55 level. Furthermore, the broader market also showed underperformance as Nifty Midcap plunged by 0.62%, while Nifty Smallcap declined by 0.45%.

Sectoral Performance:

Within the sectoral landscape, all the major sectors underperformed while Nifty Pharma, Nifty PSU Bank, Nifty Media and Nifty FMCG were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, Divi’s Laboratories stood out as the leading gainer with a significant surge of over 1%, followed by Bajaj Auto, Tata Motors and TCS. Conversely, Sun Pharma, Maruti, Power Grid and Titan found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Sona BLW Precision Forgings, Delhivery, CDSL and Exide Industries, registered substantial gains, standing among the top gainers. On the flip side, PB Fintech, PB Fintech, Piramal Pharma and Graphite India have witnessed major declines, ranking among the top losers.

ECB Signals Potential Rate Cut as Inflation Eases:

The European Central Bank maintained interest rates at record highs on Thursday but indicated that a slowdown in inflation might lead to a loosening of monetary policy, sparking expectations of a potential rate cut in June.

This marks the fifth consecutive time that the ECB has kept borrowing costs unchanged, with the key deposit rate remaining at a historic 4%.

Previously, the ECB had rapidly increased rates to combat soaring inflation, but with inflation decreasing and the impact of high borrowing costs weighing on the 20-nation eurozone, there have been increasing calls for rate reductions.

Inflation in the eurozone dropped more than anticipated in March to 2.4%, approaching the ECB’s target of 2%.

Oil Prices:

Oil prices increased in early Friday trading amid escalating tensions in the Middle East. This rise came after Iran vowed to respond to a suspected Israeli airstrike on its embassy in Syria, a situation that threatens to disrupt oil supplies from the region.

Brent crude futures went up by 34 cents, or 0.38%, to $90.08 a barrel, while US West Texas Intermediate crude futures gained 44 cents, or 0.51%, to $85.45 a barrel.

These increases helped recover some of the losses from the previous session, which were driven by concerns over persistent US inflation dampening expectations for an interest rate cut by June.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 630 advancing stocks compared to 1485 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.

[AngelOne]

Closing bell: Frontline indices plummet over 1% with Nifty Smallcap declines over 1.5%!

On Monday, the Frontline indices concluded the trading day substantially lower while Broader indices also declined, with Nifty PSU Bank among the top losers.

Major Indices Performance:

On Monday, the Frontline indices concluded the trading day substantially lower while Broader indices also declined, with Nifty PSU Bank among the top losers. The Sensex substantially declined by 1.14%, closing at 73,499.78 level, while Nifty also plummeted by 1.1% and closed at 22,272.50 level. Similarly Nifty Bank experienced significant declines of 1.63% and closed at 47,773.25 level. Furthermore, the broader market also showed major underperformance as Nifty Midcap plunged by 1.57%, while Nifty Smallcap plummeted by 1.73%.

Sectoral Performance:

Within the sectoral landscape, all the major sectors underperformed with Nifty Media, Nifty PSU Bank, Nifty Financial Services and Nifty Bank were among the top losers.

Top Gainers and Losers:

Among the Nifty 50, ONGC stood out as the leading gainer with a significant surge of over 5%, followed by Hindalco, Maruti and Nestle India. Conversely, Shriram Finance, Bajaj Finserv, Wipro and ICICI Bank found themselves among the top losers.

Broader Markets:

In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Prestige Estate, Gujarat Gas, Exide Industries and Intellect Design Arena, registered substantial gains, standing among the top gainers. On the flip side, SJVN, Max Healthcare, NBCC (India) and KEC International have witnessed major declines, ranking among the top losers.

Headline Retail Inflation in India Dips to 10-Month Low:

India’s retail inflation rate fell to a ten-month low of 4.85% in March, as reported by the Ministry of Statistics and Programme Implementation on April 12, signalling a notable decline from February’s Consumer Price Index (CPI) inflation of 5.09%.

The release of this inflation data follows the Monetary Policy Committee’s decision on April 5 to maintain the policy repo rate at 6.5% for the seventh consecutive time.

Oil Prices:

Oil prices declined at the opening of trading in Asia on Monday, as traders increased risk premiums in response to Iran’s late Saturday attack on Israel, which the Israeli government reported caused minimal damage.

Brent crude futures for June delivery dropped 24 cents to $90.21 a barrel, while West Texas Intermediate (WTI) futures for May delivery decreased by 38 cents to $85.28 a barrel.

NSE Advance/Decline Ratio:

The broader market sentiment presents a nuanced trend, with 288 advancing stocks compared to 1842 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.