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Equity investors turn richer by Rs 16.36 lakh crore in 2022

Equity investors turn richer by Rs 16.36 lakh crore in 2022


Dalal Street investors became richer by more than Rs 16.36 lakh crore this year as the equity market scaled new highs despite persistent geopolitical uncertainties and inflation worries.

Analysts attributed better macroeconomic fundamentals, the confidence of retail investors and foreign investors investing again in the domestic equities towards the latter half of 2022 as the key factors that led to the outperformance of the Indian market in comparison to many other stock markets worldwide.

During the initial part of the year, markets were jolted by the Russia-Ukraine war. On February 24, when Russia launched its attack on Ukraine, the 30-share BSE Sensex had plunged about 2,850 points before closing at 54,529.91 points, registering a massive fall of 2,702.15 points or 4.72 per cent.

In subsequent months, the key index recouped the lost ground and has climbed 2,880.06 points or 4.94 per cent this year till December 29.

Sensex touched its all-time high of 63,583.07 points on December 1 after hitting its 52-week low of 50,921.22 points on June 17.

“In 2022, the Indian stock market has gained despite challenges and heavy outflows from risk-averse foreign investors. Domestic institutional flows and resilient fundamentals have supported the market, though certain sectors and stocks have outperformed while others have underperformed.

“The market has demonstrated resilience in the face of geopolitical tensions and rising oil prices,” Suman Bannerjee, CIO of US-based hedge fund Hedonova, said.

The market capitalisation of BSE-listed firms has zoomed Rs 16,36,254.63 crore to Rs 2,82,36,466.18 crore till December 29 this year. On December 29, the Sensex closed at 61,133.88 points.

On December 5, the market capitalisation (m-cap) of BSE-listed firms reached an all-time high of Rs 290.46 lakh crore.

“The macroeconomics of India were in a far better shape than those of the majority of the international markets, which resulted in a notable outperformance of the Indian equity market. Retail investors have also shown great confidence in the Indian economy, where SIP flows have maintained record levels through 2022.

“Due to their feeling of exclusion and the fact that India offered the most stability, FIIs began investing in the Indian equity market in late 2022. All things considered, the market overcame every challenge and finished 2022 in a flat to positive range,” Santosh Meena, Head of Research at Swastika Investmart Ltd, said.

In 2022, five months saw Sensex making overall monthly gains while it was a fall in the remaining seven months.

July turned out to be the most rewarding month for equity investors as the BSE benchmark jumped 4,662.32 points or 8.81 per cent in that month.

“The roller coaster ride is coming to a satisfying end. Initially, 2022 appeared to be a flat year, but it is a good year for the Indian market. Our top indices were at lifetime highs while the majority of the global markets were trading close to their 52-week lows,” Meena said.

Dhiraj Relli, MD & CEO of HDFC Securities, said Indian markets in 2022 benefited out of better management of macros, including inflation management and corporate earnings, that did not disappoint majorly despite challenging times.

This year also saw the listing of LIC, which came out with the largest issue size of Rs 20,557 crore. The insurer, which was listed in May this year, commands a market valuation of Rs 4,32,440.09 crore.

At the close of trading on December 29, Reliance Industries Ltd was the country’s most valued firm with a market valuation of Rs 17,20,156.95 crore, followed by Tata Consultancy Services (Rs 11,96,235.37 crore), HDFC Bank (Rs 9,15,089.79 crore), Infosys (Rs 6,38,576.27 crore) and ICICI Bank (Rs 6,32,576.62 crore) in the top five.

In 2021, equity investors reaped handsome rewards as their wealth grew nearly Rs 78 lakh crore while Sensex gained 10,502.49 points or 21.99 per cent.

“Markets would be eager to start the new year on a positive note after ending December on the weaker side. Q3 results and the upcoming Union Budget could provide fresh positive triggers to the Indian equities,” Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, said.





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Nifty Rises Above 18,000 Points For First Time Since April, But Risks Remain


Stock Market India: Nifty breaches 18,000 points-mark for the first time since April

Indian equity benchmarks rose to a five-month high early on Tuesday, extending their winning streak to the fourth straight session, with the Nifty breaching 18,000-mark for the first time since April as bulls took control amid the brighter mood in global markets, despite domestic inflation rising back up after falling for three months.

Data on Monday showed a double whammy for Asia’s third-largest economy, with industrial output slowing and consumer price index-based inflation surging back to 7 per cent, stalling a three-month downtrend.

The latest inflation data contradicts the Reserve Bank of India’s broad predictions for a slowdown in price pressures and is likely to push the central bank to take a more aggressive rate hike strategy to counter inflation, mirroring the West – even at the cost of economic growth.

More analysts and economist now predict a larger RBI rate hike later this month.  

Still, the NSE Nifty-50 index rose 103.40 points, or 0.58 per cent, to 18,039.75, and the 30-share BSE Sensex index jumped 355.89 points, or 0.59 per cent, to 60,471.02.

According to information available on the BSE, foreign institutional investors (FIIs) invested Rs 2,049.65 crore in domestic shares on Monday.

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, told PTI that the ongoing market rally is primarily driven by the sudden reversal of FII strategy.

“Retail investor support and fundamental support to the market from a strong economy are aiding the rally. Now, this has become a classic momentum driven market which has the potential to take the indices to new record highs soon,” he said.

Reuters reported that domestic shares climbed to a five-month high, lifted by sharp gains in Bajaj Finserv and HDFC Life Insurance.

Financial services holding company Bajaj Finserv saw a 6.3 per cent increase in value before the record date for a stock split and bonus share issue.

Increasing 4.7 per cent, HDFC Life Insurance Company reached its highest level since June 9. According to Reuters, the British asset management abrdn plc would sell a stake in HDFC Life on Tuesday through a block deal.

“The good news for the markets is that a sliding US dollar is likely to further add to risk appetite,” said Prashanth Tapse, Senior Vice President for Research at Mehta Equities.

“A new bull market could start if the US inflation report, which is expected to be announced in the evening, comes below the streets’ expectation,” he added.

Asian bourses extended the winning momentum from a global stocks rally ahead of key US inflation data, which is predicted to come in softer and show a peak in price pressures in the world’s largest economy.

The Kospi, a stock market index in South Korea, jumped on the global rally bandwagon after a holiday and led a 0.6 per cent rise in MSCI’s largest index of Asia-Pacific shares outside of Japan. Nikkei in Japan added 0.3 per cent.

After the S&P 500 had its greatest four-day run since June on Monday as a result of strong pre-order for Apple’s iPhone 14 Pro Max, US stock futures were stable ahead of the US consumer price index-based inflation report, which will indicate and dictate the interest rate path.

Treasury yields and the dollar eased.

US bond markets imply that investors are growing more optimistic that the escalating inflationary pressures this year will be contained.

A gauge for where markets estimate inflation to be, the so-called breakeven rates on Treasury Inflation Protected Securities (TIPS) have decreased along with the cost of hedging high inflation.

Any potential upside surprise will likely see more volatility in rates,” Giulia Specchia, a macro strategist at UBS Group AG in Sydney, told Bloomberg. “We do expect the monthly pace of inflation to slow notably over the remainder of the year.”

Oil price declines have markets hopeful that US headline inflation will stabilise or slow, which is likely to ease the need for additional interest rate hikes in the future as currently feared based on the Federal Reserve’s rhetoric.

However, analysts caution that core inflation is expected to continue and that the consequences for rates in the near term are not clear.

“It’s too early to be celebrating the end of inflation, as some market participants seem already to be doing,” Rob Carnell, an Economist at ING, told Reuters.

Crude prices have fallen nearly a third since mid-June and back to levels before Russia invaded Ukraine late in February, trading below $100.



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Explained: What investors should look out for before putting money in an IPO


The sharp revival in equity markets has catalysed the primary markets, and as many as 27 companies have filed offer documents with the Securities and Exchange Board of India (SEBI) over the last couple of months.

With foreign portfolio investors (FPIs) making a strong comeback — the benchmark Sensex has reclaimed the 60,000 mark — merchant bankers have lined up public issues to take advantage of bullish domestic retail and FPI investor sentiments. While there has been no new listing since May 24, the cycle is set to restart with the listing of Syrma SGS Technology later this month. The issue closed for subscription on Thursday. Many more are lined up — Utkarsh Small Finance Bank, Fincare Small Finance Bank, and GO Digit General Insurance have filed their offer documents with SEBI.

How are the IPOs that came during the previous market boom faring?

2021 witnessed a record number of IPOs and fund-raising. While 63 companies came with public issues to raise funds amounting to a record Rs 118,723 crore from the equity markets in the calendar year, only 18 issues have hit the market in 2022. Collectively, they have raised Rs 40,310 crore — and half of this amount has come from just one issue: LIC.

A large number of public issues that hit the market amid soaring valuation in 2021 are now trading below their issue price. Data from NSE show that 27 of the 63 issues that hit the market in 2021 are trading below their issue price, including high-profile ones such as One 97 Communication (Paytm) and Zomato.

On the other hand, of the 16 issues that hit the market in calendar 2022 when the markets were less buoyant and the indices were on a decline, only four are trading below the issue price.

“We always witness a bunching-up of issues when the secondary market is buoyant. Most issues that come in times of sharp rally in the markets tend to be overpriced, and are susceptible to sharp declines when the market weakens. On the other hand, IPOs that come during normal times fare much better as they tend to be priced reasonably,” a fund manager who did not wish to be named, said.

So should you invest in this IPO rush?

The 18 per cent rally in the benchmark indices at the BSE and NSE since June 17, coming on the back of sharp FPI flows and a revival in investor sentiment, have encouraged merchant bankers to line up issues. For retail investors looking to play in the primary market, however, experts advise caution. They say that retail investors should seek out good-quality stocks from the bouquet of existing listed companies, and pick up the ones that are undervalued and not leveraged.

Several high-profile new age tech companies that came with their issues in 2021 are trading below their offer price — market participants say investors should be cautious, as there is a lot of irrationality around start-ups when there is liquidity in the market.

“When the market weakens, investor confidence in these companies gets shaken even on minor negative news flows. In the case of most of these companies where profitability is not visible for the next five years, it is very tough for an investor to stay invested when the market weakens, and so one has to be very careful about which company and at what valuation they are investing,” the head of research with financial services firm said.

What should you look for before investing in an IPO?

An IPO is an asset class that is a derivative of the secondary market, and its performance is linked to the sentiment in the broader market. Demand tends to be strong when investor sentiment is buoyant, and in such a scenario they get higher investor interest and fare well. However, that is not true for all cases; it also depends upon the pricing of the issue. Hence, investors need to do a thorough study of the company — the quality of promoters, business fundamentals, and the financial and peer review analysis — before investing in an IPO.

Corporate governance practices in the company should be given top priority. A good peer review is a must: Investors must study other listed companies in the sector and compare their growth, and their PE ratio (market price to earnings per share). If the company coming with an IPO is demanding a higher valuation, investors can consider avoiding it.





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Sensex, Nifty Open Higher Even As Global Stocks Drift On Recession Concerns


Stock Market India: Sensex, Nifty jump higher early on Tuesday

Equity benchmarks opened significantly higher even as Asian shares struggled for direction early on Tuesday, weighed by worries over global growth following weak China data that knocked oil prices and commodity-linked currencies.

The 30-share BSE Sensex index jumped 414.45 points, or 0.7 per cent, to 59,877.23 and the broader NSE Nifty index rose 112.65 points, or 0.64 per cent to 17,810.80.

Indian markets were shut on Monday as the nation celebrated its 75th anniversary of Independence, while the currency and debt markets remained closed on Tuesday on account of ‘Parsi New Year’.

Previously, both the benchmark bourses ended Friday on a high, extending gains for a fourth straight week and marking the longest winning streak since January, before data showed India’s consumer inflation dipped to 6.71 per cent in July, aided by a slower increase in food and fuel prices. 

Among the Nifty 50 companies, 40 were in the green and the rest 10 in the red, National Stock Exchange data showed.

Banking and auto stocks gained in India, with the Nifty Auto index up 1.1 per cent.

Shares of Life Insurance Corporation of India rose 2.5 per cent after the country’s biggest insurer posted a 20 per cent jump in June-quarter premium income on Friday.From the Sensex pack, Asian Paints, Mahindra & Mahindra, Nestle India, Axis Bank, IndusInd Bank, HDFC Bank and HDFC were the lead gainers. On the other hand, Bharti Airtel and Tata Steel were the laggards.

The benchmark indices, Sensex and Nifty, have gained almost 11 per cent during the last four weeks cumulatively, recouping all of the losses they have sustained in 2022. The domestic equity markets had their best week in July since February 2021.

“Steady decline in retail inflation, Brent crude falling to $94 and steady buying by FIIs augur well for the markets. However, high valuations are a concern. While remaining invested, investors must exercise caution chasing this rally,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, told ANI.

A largely positive trend in global equities and foreign capital inflows have supported domestic equity markets.

Foreign institutional investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth Rs 3,040.46 crore on Friday, according to the latest exchange data.

After falling on Monday, MSCI’s largest index of Asia-Pacific shares traded outside of Japan increased by 0.2 per cent. Although MSCI’s benchmark index has recovered 5 per cent from the year’s lows, it is still down 15 per cent for the year as a whole.

The disappointing Chinese activity statistics released on Monday, which covered industrial output and retail sales, dampened the mood just as investors were finding solace in a four-week surge in global stocks that sent markets to their best levels in more than three months.

Also, A further indication that the world’s largest economy is slowing due to the Federal Reserve raising interest rates is that both US single-family homebuilders’ confidence and New York state factory activity declined in August to their lowest levels since the beginning of the COVID-19 pandemic.

“In short, the risks of a global recession are suddenly much clearer. Then again, they were ‘always’ clear to some,” Rabobank said in a note. “And does anyone think that a central-bank pivot will make them less likely at this stage?”

On Tuesday, the overall picture on Asian stock exchanges was mixed, with South Korean equities up 0.5 per cent while benchmarks in Tokyo and Taiwan barely changed.

After data revealed that economic activity and credit expansion both sharply slowed in July, China’s central bank surprisingly cut interest rates, sending Chinese markets higher. After falling on Monday, the CSI 300 index tacked on 0.1 per cent gains.

Major indexes on Wall Street rose on Monday, recovering losses from earlier in the session.

In anticipation of a slowing in US inflation that would decrease the rate at which the Fed raises interest rates, shares have increased for four consecutive weeks.

The first and second quarters of the US economy saw a contraction, escalating the ongoing discussion of whether or not the nation is currently experiencing a recession.

In Europe, concerns about growth also dominated the conversation.

A fragile demand outlook hit oil prices as they extended losses from the previous session.

Oil prices crashed further on Tuesday, extending losses from the previous session, after economic data from China, the world’s largest crude importer, spurred fresh concerns about a potential global recession that could hit energy demand.

Brent crude futures fell 90 cents, or 1 per cent, to $94.20 a barrel. WTI crude futures fell 81 cents, or 0.9 per cent, to $88.60 a barrel. Oil futures fell about 3 per cent during the previous session.

“Crude oil witnessed a sharp rebound in last few days but failed to hold on to the gains and set fresh February lows which shows that the bears are still in control. Growth worries and shaky risk sentiment amid tightening debate may keep pressure on prices,” said Ravindra Rao, Head of Commodity Research at Kotak Securities.

On Tuesday, the dollar index, which measures the greenback against six major peers, held steady at 106.53, just below the previous session’s peak of 106.55, the strongest since Monday of last week.

The euro, the most heavily weighted currency in the dollar index, was flat at $1.0158 after earlier slipping to the weakest since August 5 at 1.0154.

The Australian dollar, a commodity-linked currency, fell as low as $0.70005, threatening to drop below the psychological 70 cent mark for the first time since Wednesday. New Zealand’s kiwi slipped to $0.6349, also the lowest since Wednesday.



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Sensex, Nifty Extend Gains For Fourth Day; Auto Stocks Shine


Sensex and Nifty settled on a higher note today.

New Delhi:

Indian equity benchmarks on Monday extended their winning run for the fourth straight session, led by gains in automobile shares as monthly data showed a sharp rise in July sales. Index heavyweight Reliance Industries and other energy stocks also supported the upward movement.

The 30-share BSE Sensex jumped 545 points or 0.95 per cent to close at 58,116 today, while the broader NSE Nifty moved 182 points or 1.06 per cent higher to settle at 17,340.

Mid- and small-cap shares finished on a strong note as Nifty Midcap 100 rose 1.67 per cent and small-cap climbed 1.80 per cent.

14 out of the 15 sector gauges — compiled by the National Stock Exchange — settled in the green. Sub-indexes Nifty Auto and Nifty Oil & Gas outperformed the NSE platform by rising as much as 3.27 per cent and 2.12 per cent, respectively.

On the stock-specific front, Tata Motors was the top Nifty gainer as the stock soared 6.77 per cent to Rs 480.05. M&M, Adani Ports, Bharti Airtel and ONGC were also among the gainers.

The overall market breadth stood positive as 2,299 shares advanced while 1,161 declined on BSE.

On the 30-share BSE index, M&M, PowerGrid, NTPC, Airtel, Reliance Industries, Maruti, Kotak Mahindra Bank, UltraTech Cement, Wipro, ITC, SBI and Axis Bank were among the top gainers with their shares up as much as 6.15 per cent.

Further, shares of Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, rose 0.80 per cent to end at Rs 683.25.

In contrast, Sun Pharma, Hindustan Unilever, IndusInd Bank, Nestle India, Asian Paints and TCS finished in the red.



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Sensex Slips Over 250 Points, Nifty Trades Below 16,550; IT, Auto Stocks Drag


Sensex and Nifty started on a lower note today.

New Delhi:

Indian equity benchmarks on Tuesday traded lower in opening deals, extending their fall for the second straight session. Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a cautious start for the domestic indices.

Stocks in Asia were mixed as investors awaited the quantum of another sharp U.S. interest rate hike. The central bank had raised its benchmark rate by 50 basis points (bps) in its previous policy and is likely to hike it further by 75 bps in July’s policy outcome, due on Wednesday.

The 30-share BSE Sensex fell 253 points or 0.45 per cent to 55,514 in the early trade, while the broader NSE Nifty moved 84 points or 0.51 per cent lower to trade at 16,547.

Mid- and small-cap shares were negative as Nifty Midcap 100 slipped 0.36 per cent and small-cap shed 0.53 per cent.

12 out of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the red. Sub-indexes IT and Nifty Auto were underperforming the NSE platform by falling as much as 1.27 per cent and 0.69 per cent, respectively.

On the stock-specific front, Dr Reddy’s was the top Nifty loser as the stock cracked 2.29 per cent to Rs 4,231.30. Infosys, Nestle India, Hero MotoCorp and HCL Technologies were also among the laggards.

The overall market breadth was slightly weak as 1,164 shares were advancing while 1,264 were declining on BSE.

On the 30-share BSE index, Dr Reddy’s, Nestle India, Asian Paints, Infosys, Axis Bank, HCL Tech, Kotak Mahindra Bank, L&T, Bharti Airtel, Hindustan Unilever, Wipro and TCS were among the top losers.

Shares of food delivery company Zomato extended their fall and plunged as much as 6.10 per cent to trade at Rs 44.65 as a one-year lock-in period for promoters, employees and other investors came to an end following a 2021 listing.

Also, shares of Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, fell 0.52 per cent to trade at Rs 680.60.

In contrast, Bajaj Finserv, Tata Steel, Reliance Industries, Bajaj Finance, SBI, M&M, ITC and PowerGrid were trading in the green.

Sensex had declined 306 points or 0.55 per cent to close at 55,766 on Monday, while Nifty had moved 88 points or 0.53 per cent lower to settle at 16,631.



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Sensex Falls Over 400 Points, Nifty Tests 16,600; Reliance Slips Over 3.5%


Sensex and Nifty started on a lower note today.

New Delhi:

Indian equity benchmarks on Monday traded lower in early deals, snapping their six-day winning run. Asian stocks declined, retreating from over three-week highs as worries about a global economic downturn sapped investors’ risk appetite.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a cautious start for the domestic indices.

The 30-share BSE Sensex fell 420 points or 0.75 per cent to 55,652 in the late morning deals, while the broader NSE Nifty moved 111 points or 0.67 per cent lower to trade at 16,608.

Mid- and small-cap shares were slightly positive as Nifty Midcap 100 edged 0.08 per cent higher and small-cap rose 0.09 per cent.

Seven out of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the red. Sub-indexes Nifty Oil & Gas and Nifty Pharma were underperforming the NSE platform by falling as much as 1.43 per cent and 0.41 per cent, respectively.

On the stock-specific front, Reliance Industries was the top Nifty loser as the stock cracked 3.60 per cent to Rs 2,412.70. ONGC, UltraTech Cement, Grasim and Shree Cement were also among the laggards.

The overall market breadth was slightly positive as 1,364 shares were advancing while 1,252 were declining on BSE.

On the 30-share BSE index, Reliance, UltraTech Cement, Sun Pharma, Nestle India, HDFC, Tech Mahindra, NTPC, PowerGrid, M&M, Asian Paints, ITC, Hindustan Unilever and Dr Reddy’s were among the top losers.

Shares of food delivery company Zomato plunged as much as 14.3 per cent to a record low, as a one-year lock-in period for promoters, employees and other investors came to an end following a 2021 listing.

Also, shares of Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, fell 0.03 per cent to trade at Rs 688.75.

In contrast, ICICI Bank, Axis Bank, IndusInd Bank, Tata Steel, Kotak Mahindra Bank and Airtel were trading in the green.

Sensex had surged 390 points or 0.70 per cent to close at 56,072 on Friday, while Nifty had moved 114 points or 0.69 per cent higher to settle at 16,719.



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Sensex Rises Over 250 Points Amid Positive Global Cues, Nifty Trades Above 15,900


Sensex and Nifty started on a higher note today.

New Delhi:

Indian equity benchmarks on Tuesday traded higher in opening deals amid positive cues from the global markets. Asian shares inched up, tracking the U.S. stock futures, on reports that America may ease some tariffs on goods from China. U.S. markets were closed overnight for the Fourth of July holiday.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a slightly higher start for the domestic indices.

The 30-share BSE Sensex jumped 267 points or 0.50 per cent to 53,501 in the early session, while the broader NSE Nifty moved 67 points or 0.42 per cent higher to trade at 15,903.

Mid- and small-cap shares were trading on a strong note as Nifty Midcap 100 climbed 0.49 per cent and small-cap rose 0.75 per cent.

All 15 sector gauges — compiled by the National Stock Exchange — were trading in the green. Sub-indexes Metal, Nifty Auto and Nifty Financial Services were outperforming the NSE platform by rising as much as 1.17 per cent, 0.68 per cent and 0.69 per cent, respectively.

On the stock-specific front, Tata Motors was the top Nifty gainer as the stock soared 2.49 per cent to Rs 418.60. Coal India, Hindalco, Adani Ports and JSW Steel were also among the gainers.

The overall market breadth was positive as 1,730 shares were advancing while 543 were declining on BSE.

On the 30-share BSE index, PowerGrid, Bajaj Finserv, Kotak Mahindra Bank, Tata Steel, NTPC, Reliance Industries, UltraTech Cement, ICICI Bank, Tech Mahindra, SBI, HDFC Bank and HDFC were among the top gainers.

Also, shares of Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, rose 1.52 per cent to trade at Rs 703.05.

In contrast, Asian Paints, ITC and Titan were trading in the red.

Sensex had surged 327 points or 0.62 per cent lower to close at 53,235 on Monday, while Nifty had moved 83 points or 0.53 per cent higher to settle at 15,835.



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Sensex Slips Over 100 Points Amid Weak Global Cues, Nifty Barely Holds 15,700


Sensex and Nifty started on a lower note today.

New Delhi:

Indian equity benchmarks on Monday traded lower in opening deals, moving in tandem with their global peers. Asian markets were wavered today over looming recession fears.

The domestic indices fluctuated between gains and losses in volatile trade during early trade.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a gap-down start for the domestic indices.

The 30-share BSE Sensex fell 102 points or 0.20 per cent to 52,805 in the early session, while the broader NSE Nifty moved 47 points or 0.30 per cent lower to trade at 15,705.

However, mid- and small-cap shares were trading slightly positive today as Nifty Midcap 100 edged 0.15 per cent higher and small-cap rose 0.48 per cent.

Four out of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the red. Sub-indexes Metal, Nifty IT and Nifty Oil & Gas were underperforming the NSE platform by falling as much as 1.84 per cent, 0.82 per cent and 0.34 per cent, respectively.

On the stock-specific front, ONGC was the top Nifty loser as the stock cracked 4.24 per cent to Rs 125.50. Hindalco, JSW Steel, Tata Steel and TCS were also among the laggards.

Though, the overall market breadth was slightly positive as 1,792 shares were advancing while 775 were declining on BSE.

On the 30-share BSE index, Tata Steel, TCS, M&M, Wipro, Tech Mahindra, HDFC, Dr Reddy’s, Infosys, Asian Paints, UltraTech Cement, Bharti Airtel and L&T were among the top losers.

In contrast, IndusInd Bank, ITC, Sun Pharma, ICICI Bank, PowerGrid and Maruti were trading in the green.

Also, shares of Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, rose 0.73 per cent to trade at Rs 681.70.

Sensex had declined 111 points or 0.21 per cent lower to close at 52,908 on Friday, while Nifty had moved 28 points or 0.18 per cent lower to settle at 15,752.



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Sensex Falls Over 300 Points Amid Weak Global Cues, Nifty Trades Below 15,700


Sensex and Nifty started on a lower note today.

New Delhi:

Indian equity benchmarks on Friday traded lower in opening deals, moving in tandem with the global markets. Asian stocks made a shaky start today as investors turned increasingly nervous about the global economic outlook. Overnight, Wall Street recorded a 21 per cent fall in the first six months of this year — the worst since 1970.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a gap-down start for the domestic indices.

The 30-share BSE Sensex fell 331 points or 0.62 per cent to 52,688 in early session, while the broader NSE Nifty moved 113 points or 0.71 per cent lower to trade at 15,668.

Mid- and small-cap shares were trading on a weak note today as Nifty Midcap 100 slipped 0.56 per cent and small-cap shed 0.45 per cent.

13 out of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the red. Sub-indexes Nifty Bank, Nifty Auto and Nifty Consumer Durables were underperforming the NSE platform by falling as much as 0.83 per cent, 1.16 per cent and 1.29 per cent, respectively.

On the stock-specific front, Titan was the top Nifty loser as the stock cracked 2.59 per cent to Rs 1,891. Bajaj Auto, Dr Reddy’s, Tata Motors and HDFC were also among the laggards.

The overall market breadth was slightly positive as 1,084 shares were advancing while 1,061 were declining on BSE.

On the 30-share BSE index, Titan, Dr Reddy’s, M&M, Kotak Mahindra Bank, HDFC, Bajaj Finance, SBI, Maruti, HDFC Bank, Bharti Airtel, ICICI Bank and Sun Pharma were among the top losers.

In contrast, Asian Paints, Tech Mahindra, TCS, Tata Steel, UltraTech Cement, Wipro and IndusInd Bank were trading in the green.

Also, shares of Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, edged 0.23 per cent higher to trade at Rs 675.15.

Sensex had declined 150 points or 0.28 per cent to close at 53,027 on Thursday, while Nifty had moved 51 points or 0.32 per cent lower to settle at 15,799.



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