Mumbai: Benchmark Sensex declined by 110 points in a see-saw trade on Thursday, marking its third straight session of losses amid continued FII selling, disappointing quarterly results and soaring inflation.

Benchmark BSE Sensex dropped 110.64 points or 0.14 per cent to settle at 77,580.31. During the day, it dropped 266.14 points or 0.34 per cent to 77,424.81.

Broader NSE Nifty dropped by 26.35 points or 0.11 per cent to close at 23,532.70, extending its losing streak to the sixth day.

From the 30-share Sensex pack, Hindustan Unilever, NTPC, Nestle, IndusInd Bank, Power Grid, Adani Ports, Tata Motors and Bajaj Finserv were the major laggards.

Reliance Industries, Kotak Mahindra Bank, Tech Mahindra, Mahindra & Mahindra and HDFC Bank were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,502.58 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 6,145.24 crore, according to exchange data.

Wholesale price inflation rose to a four-month high of 2.36 per cent in October as prices of food items, especially vegetables, and manufactured goods turned dearer, showed the government data released on Thursday.

Retail inflation breached the Reserve Bank’s upper tolerance level, soaring to a 14-month high of 6.21 per cent in October mainly on account of rising food prices.

In Asian markets, Tokyo, Shanghai and Hong Kong settled lower while Seoul ended in the positive territory.

European markets were trading higher. The US markets ended on a mixed note on Wednesday.

Global oil benchmark Brent crude dipped 0.06 per cent to USD 72.24 a barrel.

Sensex tanked 984.23 points or 1.25 per cent to settle at 77,690.95 on Wednesday. Registering its fifth day of decline, the Nifty tumbled 324.40 points or 1.36 per cent to 23,559.05.

Equity markets will remain closed on Friday for Guru Nanak Jayanti.

NEW DELHI: India’s foreign exchange reserves fell for the fifth consecutive week after reaching an all-time high last month.
In the week ending November 1, forex reserves declined by $2.675 billion to $682.130 billion, according to data released by the Reserve Bank of India (RBI) on Friday.
In the three previous weeks, reserves dropped by $3.7 billion, $10.7 billion, $2.16 billion, and $3.463 billion, respectively, the data showed.
Reserves had previously peaked at a record high of $704.885 billion before this recent decline, likely due to RBI intervention aimed at preventing a sharp depreciation of the Rupee.
A substantial foreign exchange reserve buffer helps shield domestic economic activity from global shocks.
The latest RBI data shows that India’s foreign currency assets (FCA), the largest component of forex reserves, stand at $589.849 billion.
Gold reserves currently amount to $69.751 billion, according to Friday’s data.
Estimates suggest that India’s foreign exchange reserves are now sufficient to cover approximately one year of projected imports.
In 2023, India added around $58 billion to its foreign exchange reserves, contrasting with a cumulative decline of $71 billion in 2022.
Foreign exchange reserves, or FX reserves, are assets held by a nation’s central bank or monetary authority, primarily in reserve currencies such as the US Dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling.
The RBI closely monitors foreign exchange markets, intervening only to maintain orderly market conditions and curb excessive volatility in the Rupee exchange rate, without adhering to any fixed target level or range.
The RBI often intervenes by managing liquidity, including selling dollars, to prevent steep Rupee depreciation. A decade ago, the Indian Rupee was among the most volatile currencies in Asia.
Since then, it has become one of the most stable. The RBI has strategically bought dollars when the Rupee is strong and sold when it weakens, enhancing the appeal of Indian assets to investors.

Mumbai: Stock markets rallied more than 1 per cent on Wednesday with benchmark Sensex soaring 901 points on heavy buying in IT and pharma shares as Donald Trump is all set to win the US presidential elections.

Extending its gains to the second day, the BSE Sensex jumped 901.50 points or 1.13 per cent to settle at 80,378.13. During the day, it soared 1,093.1 points or 1.37 per cent to 80,569.73.

The NSE Nifty soared 270.75 points or 1.12 per cent to close at 24,484.05.

From the 30-share Sensex pack, Tata Consultancy Services and Infosys jumped over 4 per cent each. HCL Technologies, Tech Mahindra, Adani Ports, Larsen & Toubro, Maruti and Reliance Industries were also among big gainers.

Titan, IndusInd Bank, Hindustan Unilever, Axis Bank and HDFC Bank were the laggards.

“Global markets experienced a relief rally following the US election results, reducing political uncertainty with Trump securing a strong mandate. This has led to strong risk-on sentiments, driven by expectations of tax cuts and increased government spending,” Vinod Nair, Head of Research at Geojit Financial Services said.

The domestic buying was broad-based, with IT leading the charge in anticipation of a rebound in IT spending in the US.

“BFSI spending in the US has improved as per the IT Q2 result which is positive for Indian players,” Nair added.

In Asian markets, Tokyo settled higher while Seoul, Shanghai and Hong Kong ended lower.

European markets were quoting in the green. Wall Street ended sharply higher on Tuesday.

Global oil benchmark Brent crude declined 2 per cent to USD 74.02 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,569.41 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought Rs 3,030.96 crore worth of shares, according to exchange data.

Bouncing back from Monday’s sharp fall, the BSE benchmark jumped 694.39 points or 0.88 per cent to settle at 79,476.63 on Tuesday. The Nifty climbed 217.95 points or 0.91 per cent to 24,213.30.

Mumbai: Benchmark Sensex recovered its early losses to close sharply higher by 694 points on late buying in banking, steel and oil & gas shares amid firm trends in global equities.

Bouncing back from Monday’s sharp fall, the BSE Sensex jumped 694.39 points or 0.88 per cent to settle at 79,476.63. During the day, it soared 740.89 points or 0.94 per cent to 79,523.13.

The NSE Nifty climbed 217.95 points or 0.91 per cent to 24,213.30.

Stock markets opened on a weak note and traded in a range with a negative bias the first half. Sensex hit a low of 78,296.70 while Nifty touched 23,842.75. Value buying in the afternoon session helped indices recover losses and closed in the green.

From the 30-share Sensex pack, JSW Steel surged nearly 5 per cent while Tata Steel jumped nearly 4 per cent. Axis Bank, IndusInd Bank, HDFC Bank, State Bank of India, Kotak Mahindra Bank and UltraTech Cement were also among the big gainers.

Adani Ports, ITC, Bharti Airtel and Asian Paints were among the laggards.

In Asian markets, Tokyo, Shanghai and Hong Kong settled in the positive territory while Seoul ended lower.

European markets were trading higher. The US markets ended lower on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,329.79 crore on Monday, according to exchange data.

Global oil benchmark Brent crude climbed 0.60 per cent to USD 75.53 a barrel.

The BSE benchmark tumbled 941.88 points or 1.18 per cent to settle at 78,782.24 on Monday, the lowest closing level since August 6. The Nifty tanked 309 points or 1.27 per cent to 23,995.35.

Mumbai: The Indian stock market was trading deep in the red on Monday’s mid-session as heavy selling was seen in the auto, metal, realty and energy stocks.

At 12 p.m., BSE Sensex was trading at 78,609, down 1,317 points or 1.65 per cent. On the other hand, NSE Nifty was trading at 23,862.55, down 441.80 points or 1.82 per cent during this time.

In the Sensex pack, shares of all companies except M&M and Tech Mahindra were trading in red. Sun Pharma, Reliance, NTPC, Tata Motors, Power Grid and Tata Steel were top losers.

Almost all sectoral indices were trading in the red. Auto, IT, PSU Bank, fin Services, pharma, MMCG, metal, realty, media, private bank, infra and commodities were major losers.

In the afternoon trade, Nifty Bank has come down to 51,097.95 after a massive fall of 575.95 points or 1.11 per cent. At the same time, the Nifty Midcap 100 index has come down to 55,671.20 after a huge fall of 824.85 points or 1.46 per cent. The Nifty Small Cap 100 index has come down to 18,384 after falling 410.75 points or 2.19 per cent.

The market trend remained negative. On BSE, 1,062 shares were trading in green while 2,856 shares were trading in red. There has been no change in 131 shares.

According to market experts, the focus of the global market will be on the US presidential elections for the next few days and instability may persist for some time regarding the election results.

New Delhi: Benchmark BSE Sensex rose nearly 448 points in the early session of special Muhurat trading on across-the-board buying by investors to mark the start of the new Samvat Year 2081. The 30-share index increased 447.90 points, or 0.56 per cent, to 79,836.96 as all of its constituents traded in the green. The index opened higher at 80,023.75 but shed some gains later.

The 50-issue Nifty of the NSE spurted 150.10 points, or 0.62 per cent, to 24,355.45 with 47 of its constituents ending in the green. Among major Sensex movers, Mahindra & Mahindra rose 2.66 per cent, Adani Ports 1.42 per cent, and Tata Motors by 1.35 per cent.

NTPC, Axis Bank, Titan, IndusInd Bank, Tata Steel, HDFC Bank, Reliance Industries and Bharti Airtel also advanced. Muhurat trading is a one-hour, symbolic trading session conducted by stock exchanges on the occasion of Diwali, marking the start of the new Samvat year.

During the Samvat year 2080 that ended on Thursday, the BSE Sensex jumped 14,484.38 points, or 22.31 per cent, while the Nifty climbed 4,780 points, or 24.60 per cent. Global markets were mixed as European shares rose in early trade. Most Asian markets closed with losses.

Japan’s benchmark Nikkei 225 dropped 2.6 per cent, the Shanghai Composite slipped 0.2 per cent and South Korea’s Kospi lost 0.5 per cent. Hong Kong’s Hang Seng index added 0.9 per cent.

Last Updated:October 24, 2024, 09:28 IST

Stock Market Updates: Indian benchmark equity indices BSE Sensex and Nifty 50 opened higher on Thursday.

Sensex Today

Stock Market Updates: Indian benchmark equity indices BSE Sensex and Nifty 50 opened higher on Thursday.

At opening bell, the BSE Sensex was up 126 points, or 0.16 per cent, at 80,208, while the Nifty 50 was at 24,465, higher by 29.80 points, or 0.12 per cent.

Global Cues

Meanwhile, markets in the Asia-Pacific region were mixed on Thursday morning after the overnight decline in US stocks on on Wall Street.

South Korea’s Kospi was down 0.37 per cent after the country’s third-quarter GDP growth came in at 0.1 per cent quarter on quarter, missing Reuters’ estimates of 0.5 per cent growth, and following a 0.2 per cent decline in the second quarter.

The small-cap Kosdaq declined 1.08 per cent. Japan’s Nikkei 225 was up 0.48 per cent, while the Topix was up marginally.

Australia’s S&P/ASX 200 was up 0.14 per cent.

On Wall Street, all the three main indices finished lower, driven by losses in consumer discretionary, technology and communication services stocks.

The Dow Jones Industrial Average fell 0.96 per cent to 42,514.95, the S&P 500 fell 0.92 per cent to 5,797.42 and the Nasdaq Composite fell 1.60 per cent to 18,276.65.

Stock Market Today: The Indian equity benchmark indices, BSE Sensex and Nifty50, faced significant losses on Tuesday due to a massive outflow of foreign funds from the capital markets and weak global equities.
The BSE Sensex dropped 930.55 points or 1.15 per cent to settle at 80,220.72, while the Nifty50 declined 309 points or 1.25 per cent to 24,472.10.
The downturn was primarily led by major stocks such as Mahindra & Mahindra, State Bank of India, Power Grid, Tata Steel, Tata Motors, Larsen & Toubro, NTPC, Bajaj Finance, and Reliance, which collectively dragged the BSE Sensex down by 505 points, according to reports.
In contrast, ICICI Bank, Nestle, and Infosys emerged as the major gainers.

Why BSE Sensex, Nifty50 crashed today

Market sentiment was negatively impacted by various factors, including disappointing earnings growth trends, as reported by traders.
Analysts noted that weak earnings growth and sluggish global markets weighed on investor sentiment, with rising US bond yields and policy actions in China contributing to FII outflows.
Exchange data shows that on Monday, Foreign Institutional Investors (FIIs) sold equities worth Rs 2,261.83 crore, while Domestic Institutional Investors (DIIs) purchased equities amounting to Rs 3,225.91 crore.
The rupee also ended the day marginally weaker at 84.0775 against the US dollar, marking its lowest-ever closing level, after hitting an all-time low of 84.0825 earlier in the session.
“Bearish sentiment continued to dominate the domestic market today amid heightened volatility, with small and midcap stocks taking the biggest hit,” Vinod Nair, Head of Research, Geojit Financial Service told news agency PTI.
“The recent sharp rise in US bond yields signals diminished expectations for aggressive rate cuts by the US Fed, also affecting fund flows to EMs. In the short term, this bearish outlook may persist due to sluggish earnings growth trends,” he added.
Hyundai Motor India Ltd, the Indian subsidiary of the South Korean automaker Hyundai, had a disappointing debut on the stock market. The company’s shares closed more than 7 per cent lower than the issue price of Rs 1,960.
The company stock opened at Rs 1,931 on the BSE, marking a 1.47 per cent decline from its issue price. It briefly recovered to a high of Rs 1,968.80, up 0.44 per cent, but failed to maintain the momentum, eventually dropping 5.81per cent to Rs 1,846.
On the NSE, Hyundai’s shares debuted at Rs 1,934, down 1.32per cent, before further tumbling 5.88per cent to Rs 1,844.65 during the session.
The stock market had opened the day on a subdued note, reflecting weak global sentiment and carrying over the negative momentum from Monday’s decline. The Sensex had gained a modest 183.87 points to start at 81,335.14, while the Nifty rose by 31.55 points to open at 24,812.65.
Earlier in the intra-day trading session, the BSE Sensex plunged as much as 1,001.74 points, or 1.23 per cent, to reach 80,149.53.
The market displayed a mixed trend, with 22 companies advancing and 27 declining on the Nifty. Shriram Finance, Tech Mahindra, ICICI Bank, HCL Technologies, and Nestle India led the gains, while Tata Steel, Bharat Electronics Limited (BEL), Mahindra & Mahindra (M&M), Tata Motors, and Bharat Petroleum Corporation Limited (BPCL) emerged as the top losers in the opening session.

Global market performance

Asian markets had a mixed performance, with Seoul and Tokyo ending the day lower, while Shanghai and Hong Kong managed to close higher.
In the commodities market, Brent crude, the global oil benchmark, rose by 0.61 per cent to reach $ 74.74 a barrel.
While the European markets, on the other hand, were trading in negative territory. The US markets had a mixed session on Monday.

New Delhi: The National Stock Exchanges (NSE) has announced Diwali Muhurat Trading to be held on November 1, marking the commencement of the Hindu Calendar year Samvat 2081. This year Diwali, the festival of lights, will be celebrated on October 31 and a special window for the Diwali Muhurat Trading will commence on 6 pm and go on till 7 pm the next day.

Due to the Diwali festival, the stock markets will be closed for normal trading but the special window will open for just one hour in the evening. The NSE in a circular today said, “A special live trading session shall be held on Friday, November 1, 2024 on account of Muhurt trading on Diwali.” As per NSE, while the normal trading will be conducted between 6 pm to 7 pm,  the trade modification end timing will be 7:10 pm.

Meanwhile, the Bombay Stock Exchange will also conduct special Muhurat Trading on November 1, as per the information available on its website, but the the exchange has not notified the timings.

As per NSE, any buying or selling of stocks done during the special Diwali Muhurat trading session will have to be completed just like any other regular trading day. After the trading, both parties (buyers and sellers) will have to fulfill their responsibilities, meaning the buyer will pay for the stocks and the seller will deliver them as per normal settlement rules.

During this one-hour window, investors placed orders for stocks according to their wishes which they believe to be auspicious and would bring in good returns. Diwali, dedicated to worshipping the Goddess of Wealth, marks an auspicious day for new purchases and people tend to grab onto some form of financial investment.

Also, the purchase of precious metals such as gold and silver, real estate, electronic items, and automobiles, among others, is specially timed by many on this auspicious day.