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.

Mumbai: Benchmark Sensex and Nifty tumbled more than 1 per cent on Thursday after a two-day rally as investors remained on the sidelines ahead of the US Federal Reserve interest rate decision and unabated foreign fund outflows.

The BSE Sensex tanked 836.34 points or 1.04 per cent to settle at 79,541.79. During the day, it slumped 958.79 points or 1.19 per cent to 79,419.34.

The NSE Nifty dropped 284.70 points or 1.16 per cent to finish at 24,199.35.

From the 30-share Sensex pack, Tata Motors, Tech Mahindra, UltraTech Cement, JSW Steel, Sun Pharma, Asian Paints, IndusInd Bank and ICICI Bank were the major losers.

State Bank of India emerged as the only gainer from the pack.

Foreign institutional investors (FIIs) offloaded equities worth Rs 4,445.59 crore on Wednesday, according to exchange data.

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

European markets were trading in positive territory. Wall Street ended significantly higher on Wednesday.

Republican leader Donald Trump won the US presidential election for a second term, handing a shock defeat to his Democratic rival Kamala Harris, in one of the most remarkable comebacks in American electoral history, by rising from the political wilderness four years after his eviction from the White House and subsequent failed attempt to overturn the 2020 election outcome.

Global oil benchmark Brent crude dipped 0.33 per cent to USD 74.67 a barrel.

The BSE benchmark jumped 901.50 points or 1.13 per cent to settle at 80,378.13 on Wednesday. The Nifty soared 270.75 points or 1.12 per cent to 24,484.05.

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.

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened higher in trade on Monday. While BSE Sensex crossed the 80,000 mark, Nifty50 moved above 24,400. At 10:37 AM, BSE Sensex was trading at 80,234.60, up 832 points or 1.05%. Nifty50 was at 24,411.20, up 230 points or 0.95%.
Indian stock markets have broken a five-day losing streak amidst persistent foreign selling and disappointing quarterly corporate results. ICICI Bank led the gains, surpassing profit expectations for the September quarter due to strong loan demand.
The Nifty 50 has fallen nearly 8% from its all-time high on September 27, weighed down by foreign outflows over the past 20 sessions, as investors shift funds to China due to Beijing’s stimulus measures and relatively lower valuations.
Analysts noted that weak earnings have also negatively impacted investor sentiment and contributed to the selling pressure, in addition to foreign selling.
ICICI Bank, SBI, NTPC, Infosys, Bajaj Finserv, and Tata Motors were the top gainers in the Sensex pack, rising by up to 2.7%. On the other hand, L&T, ITC, Tech Mahindra, Bharti Airtel, and JSW Steel opened lower.
IDFC First Bank’s shares dropped 10% after reporting a 73% year-on-year decline in profit, falling to Rs 201 crore for the quarter ended September 2024. DLF shares, however, jumped over 4% after the real estate developer reported higher second-quarter profit driven by sales of newly launched houses.
The Nifty PSU Bank index rose 2%, led by Bank of Baroda, SBI, and PNB. The Nifty Financial Services, IT, Media, and Metal indices also opened higher. The Nifty mid and small-cap indices opened flat in the broader markets.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated, “The trend of flight to quality is likely to sustain given the good numbers from banking majors like HDFC Bank and ICICI Bank where valuations continue to be fair. Investors can profit from these polarised valuations.”
Vijayakumar added, “The global market structure may turn favourable after the subdued Israeli strikes against Iran avoiding the Iranian oil fields which has resulted in a sharp drop in crude prices. The imminent US presidential elections and the uncertainty associated with that will continue to weigh on markets.”
Hardik Matalia, Derivative Analyst at Choice Broking, said, “After a positive opening, Nifty can find support at 24,150 followed by 24,050 and 23,900. On the higher side, 24,300 can be an immediate resistance, followed by 24,400 and 24,500.”
Asian shares rose Monday, as the yen dipped amid political uncertainty after Japan’s ruling party lost its majority in Parliament’s lower house in weekend elections. Japan’s Nikkei 225 surged 1.6%, South Korea’s Kospi edged up 0.6%, Hong Kong’s Hang Seng added 0.1%, and the Shanghai Composite rose 0.3%.
On October 25, foreign institutional investors (FIIs) sold equities worth Rs 3,036 crore, while domestic institutional investors bought equities worth Rs 4,159 crore.
Oil prices fell more than $3 a barrel on Monday after Israel’s retaliatory strike on Iran over the weekend avoided Tehran’s oil and nuclear facilities and did not disrupt energy supplies, easing geopolitical tensions in the Middle East. Brent was at $72.70 a barrel, down $3.35, or 4.4%, while WTI slipped $3.27, or 4.6%, to $68.51 a barrel.
The Indian rupee opened flat at 84.08 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, rose 0.26% to 104.53 level.

Quarterly earnings from corporates, global trends, and trading activity of foreign investors will guide market sentiment this week, analysts said, adding that benchmark indices may face volatile trends.

“The upcoming release of Q2 results will be closely watched, providing insights into corporate performance. Meanwhile, the escalating tensions between Israel and Iran introduce a significant geopolitical risk, potentially leading to increased oil prices and market volatility. Foreign Institutional Investors (FIIs) have been a key driver of the Indian market’s performance, and their stance will depend on factors such as global economic conditions, and domestic political developments,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.

HDFC Bank on Saturday reported a 6 per cent increase in September quarter net profit to Rs 17,825.91 crore on a consolidated basis.

On a standalone basis, the largest private sector lender’s post-tax net grew to Rs 16,820.97 crore during the reporting period, as against Rs 15,976.11 crore in the year-ago period.

“In the absence of any major triggers, market participants will focus on upcoming earnings for direction. First, they will react to the results of banking heavyweights such as HDFC Bank and Kotak Bank. Later, companies like ITC, Hindustan Unilever, BPCL, HPCL, and Ultratech Cement will also announce their earnings,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.

Bajaj Housing Finance, Adani Green Energy, Bajaj Finance, One97 Communications, Zomato, Bajaj Finserv and Bank of Baroda would also announce their earnings this week.

Kotak Mahindra Bank on Saturday posted a 13 per cent growth in September quarter profit to Rs 5,044 crore, helped by performance of its subsidiaries.

On a standalone basis, the private sector lender’s net profit for the quarter grew 5 per cent to Rs 3,344 crore, limited by a jump in provisions.

“Geopolitical uncertainty, coupled with sluggishness in the Chinese economy and persistent FII outflows from the domestic markets, have led to caution,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Massive foreign fund exodus from the domestic markets dragged the benchmark indices lower last week.

Last week, the BSE benchmark declined 156.61 points or 0.19 per cent, and the Nifty went lower by 110.2 points or 0.44 per cent.

“The trend of FII selling and DII (Domestic Institutional Investors) buying is likely to sustain in the near-term. The rationale behind FPIs (Foreign Portfolio Investors) selling is the elevated valuations in India and the cheap valuations of Chinese stocks, which the FPIs have been buying aggressively since mid-September,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

Mcap of 4 of Top-10 Most Valued Firms Jumps Rs 81,151 Cr Last Week

Four of the top-10 most-valued firms together added Rs 81,151.31 crore in market valuation last week, with ICICI Bank and HDFC Bank emerging as the biggest gainers.

While HDFC Bank, Bharti Airtel, ICICI Bank, and the State Bank of India were the gainers, Reliance Industries, Tata Consultancy Services (TCS), Infosys, Hindustan Unilever, ITC, and Life Insurance Corporation of India (LIC) suffered a combined erosion of Rs 76,622.05 crore from their market valuation.

ICICI Bank added Rs 28,495.14 crore, taking its market valuation to Rs 8,90,191.38 crore.

The valuation of HDFC Bank jumped Rs 23,579.11 crore to Rs 12,82,848.30 crore.

State Bank of India’s market valuation climbed Rs 17,804.61 crore to Rs 7,31,773.56 crore and that of Bharti Airtel went up Rs 11,272.45 crore to Rs 9,71,707.61 crore.

On the other hand, the market capitalisation (mcap) of Infosys slumped Rs 23,314.31 crore to Rs 7,80,126.10 crore.

The valuation of Reliance Industries declined Rs 16,645.39 crore to Rs 18,38,721.14 crore.

The mcap of Hindustan Unilever tumbled Rs 15,248.85 crore to Rs 6,38,066.75 crore and that of TCS diminished by Rs 10,402.01 crore to Rs 14,91,321.40 crore.

LIC’s valuation went lower by Rs 8,760.12 crore to Rs 5,91,418.91 crore.

The mcap of ITC dipped Rs 2,251.37 crore to Rs 6,08,682.29 crore.

Reliance Industries continued to remain the most-valued domestic firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC.

(With PTI inputs)

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Tuesday. While BSE Sensex was near 82,200, Nifty50 was above 25,150. At 9:16 AM, BSE Sensex was trading at 82,198.68, up 226 points or 0.28%. Nifty50 was at 25,196.05, up 68 points or 0.27%.
The Indian stock market experienced a positive trading session on Monday, closing near the day’s high.Today, the market will witness the launch of the Hyundai IPO, which is the largest-ever in India, with an issue size of Rs 27,870 crore.
Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal, commented, “Markets have gradually picked up with Nifty sustaining above the 25k mark. We expect this up-move to continue in the market with stock-specific action.”
Nagaraj Shetti of HDFC Securities noted that a sustainable move above the 25,200 level could be considered an upside breakout, potentially pushing Nifty towards the 25,500-25,600 range in the near term, with immediate support at 24,900 levels.
Wall Street ended higher on Monday, with the S&P 500 and Dow posting fresh record finishes as investors bought into technology stocks ahead of a busy week of corporate earnings and crucial economic data. The Dow gained 0.47%, the S&P 500 was up 0.77%, and the Nasdaq jumped 0.87%.
Asian shares climbed following Wall Street’s strong performance, with stocks hitting fresh record highs. Oil prices dropped as concerns eased about Israel attacking Iranian energy facilities.
S&P 500 futures were little changed as of 9:40 a.m. Tokyo time, while Japan’s Topix rose 0.9%, Australia’s S&P/ASX 200 rose 0.8%, and Euro Stoxx 50 futures rose 0.3%.
Oil prices slid $2 in early Asian trade on Tuesday as OPEC lowered its outlook for global oil demand growth in 2024 and 2025, and a media report suggested that Israel is willing to strike Iranian military targets, but not nuclear or oil facilities.
Eleven stocks are in the F&O ban period today, including Chambal Fertilisers, SAIL, Hindustan Copper, RBL Bank, Granules, Manappuram, PNB, GNFC, IDFC First Bank, Tata Chemicals, IEX, and Nalco. These securities have crossed 95% of the market-wide position limit.
Foreign portfolio investors turned net sellers at Rs 3,731 crore on Monday, while DIIs bought shares worth Rs 2,278 crore.
The net short position of FIIs reduced slightly from Rs 1.502 lakh crore on Friday to Rs 1.501 lakh crore on Monday.

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Friday. While BSE Sensex was around the 81,500 level, Nifty50 was above 24,950. At 9:16 AM, BSE Sensex was trading at 81,518.82, down 93 points or 0.11%. Nifty50 was at 24,964.65, down 34 points or 0.14%.
“Overall we expect the market to consolidate in a range with stock-specific action.The IT sector is likely to be in focus as it will set the pace for other companies,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
Technical analysis indicates that the Nifty has support at 24,950-25,000 and 24,750 levels, while immediate resistance is seen at 25,100, with the next resistance zone at 25,250-275 levels.
Wall Street’s main indexes closed lower on Thursday as investors assessed higher-than-expected inflation and unemployment claims data for insights into the U.S. economy and the future path of interest rates. Asian shares, however, rose on Friday, sidestepping the losses on Wall Street.
Oil prices eased on Friday after a rally the previous day, but they remained set for a second straight weekly gain. Investors weighed the impact of hurricane damage on U.S. demand against potential supply disruptions if Israel attacks Iranian oil sites.
The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labor market strengthened the case for quicker Federal Reserve rate cuts.
Eleven stocks are currently in the F&O ban period, including BirlaSoft, Bandhan Bank, Hindustan Copper, RBL Bank, Granules, Manappuram, PNB, GNFC, IDFC First Bank, SAIL, and Tata Chemicals.
FIIs turned net sellers on Thursday, offloading shares worth Rs 4,926 crore, while domestic institutional investors (DIIs) bought shares worth Rs 3,878 crore.
The net short position of FIIs increased from Rs 1.28 lakh crore on Wednesday to Rs 1.55 lakh crore on Thursday.

Conflicts in the Middle East have intensified, with Israel now engaged in a multi-front war involving Palestine, Lebanon, Yemen, and more recently, Iran. This escalation comes amidst the ongoing Russia-Ukraine war, which began in early 2022. These crises have led to growing concerns that the situation may evolve into a broader global conflict, potentially even another World War.

Veteran investor Shankar Sharma stirred discussions on geopolitical tensions with a tweet, predicting an inevitable escalated global conflict. He foresees the formation of two opposing blocs in the world, with the US, UK, Israel, and Europe on one side and Iran, Russia, China, and North Korea on the other.

“Apna prediction kilear hai: aaj nahi to Kal, ek World War hona hi hai. US UK Israel Europe: Side 1. Iran Russia China N Korea: Side 2. India? Referee without Penalty Powers,” Sharma said in a post on X (formerly Twitter) on October 2.

The tweet hinted at India’s uncertain role, likening it to a “referee without penalty powers” – a position of neutrality but with limited influence in mitigating the global conflict.

Sharma’s prediction aligns with growing concerns about escalating global tensions, particularly surrounding the US-China relations, the Russia-Ukraine war, and Middle Eastern conflicts involving Iran and Israel. The inclusion of major nuclear powers such as Russia, China, and the US intensifies the potential consequences of such a scenario.

Middle East tensions escalated significantly on October 1, when Iran launched around 200 ballistic missiles at Israel. In response, Israeli Prime Minister Benjamin Netanyahu vowed to retaliate against Tehran, while Iranian officials warned that any further targeting of their country would provoke an even more devastating counterstrike.

Sharma’s comment on India’s role as a “referee” reflects its current foreign policy of strategic autonomy and its ‘neutral’ position. While India maintains strong ties with the West, it has also sought to balance its relations with Russia and other non-aligned nations.

This is evident in its approach during the ongoing Russia-Ukraine war, where India has preserved diplomatic ties with both Russia and Ukraine. Prime Minister Narendra Modi has engaged with both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy, aiming to foster dialogue without explicitly taking sides.

Financial markets have been rattled by the ongoing geopolitical conflicts, with the Indian stock market indices, Sensex and Nifty 50, dropping over 2% each on Thursday. The heightened volatility in the markets have added to broader concerns about the global economic outlook amid speculations over how the conflict will evolve.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Thursday. Both BSE Sensex and Nifty50 were just short of their lifetime high. At 9:16 AM, BSE Sensex was trading at 85,202.10, up 32 points or 0.038%. Nifty50 was at 26,013.40, up 9 points or 0.036%.
“Markets made a new all-time high for the sixth consecutive session supported by positive global cues and strong domestic flows on Wednesday.We expect the Nifty to continue its upwards journey, amid monthly derivative expiry on Thursday which may induce some volatility,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
The near-term uptrend of the Nifty remains intact, with the possibility of range-bound action or a minor dip in the next 1-2 sessions. The immediate resistance level is around 26,250, while support is at 25,800, according to Nagaraj Shetti of HDFC Securities.
Global markets are mostly positive, with S&P 500 futures, Hang Seng futures, Japan’s Topix, and Australia’s S&P/ASX 200 all trading higher. However, Euro Stoxx 50 futures are slightly down. The forex market is relatively stable, with the euro, Japanese yen, offshore yuan, and Australian dollar showing little change against the US dollar.
Oil prices remain stable on Thursday, supported by increased fuel demand and decreasing stockpiles in the United States, despite concerns about demand in other regions, particularly China. Brent crude futures and U.S. West Texas Intermediate crude are trading with minor gains.
In the Indian market, five stocks are in the F&O ban period today: ABFRL, Granules, Hindustan Copper, Vodafone Idea, and IEX. Foreign portfolio investors (FPIs) turned net sellers at Rs 974 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 1,779 crore. The
The net long position of FIIs increased from Rs 3.38 lakh crore on Tuesday to Rs 3.52 lakh crore on Wednesday.