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Tag: BSE

  • Sensex Rises 448 Points, Nifty Rallies Above 24,300 In Muhurat Session | Markets News

    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.

  • NSE To Conduct Diwali Muhurat Trading On November 1 | Economy News

    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.

  • Stock Market Holidays 2024: Sensex, Nifty To Remain Closed On This Date In October–Check Full List Here | Economy News

    New Delhi: As we step into October, stock market traders and investors should take note of the upcoming holidays. Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on 2nd October in observance of Mahatma Gandhi’s birth anniversary.

    Trading across various segments, including equity, equity derivatives, currency, SLB, commodity and Electronic Gold Receipts (EGR) will be closed on 2nd October, as per the Bombay Stock Exchange’s website. Similarly, the National Stock Exchange has also marked 2nd October as a holiday for equity trading, according to its holiday calendar.

    Here’s the updated list of stock market holidays in 2024:

    – 2 October 2024 – Gandhi Jayanti

    – 1 November 2024 – Diwali

    – 15 November 2024 – Guru Nanak Jayanti

    – 25 December 2024 – Christmas

    Performance of the Stock Market on September 27

    On September 27, the Nifty 50 hit a new all-time high of 26,277, but later ended the day 37 points lower, closing at 26,179, a 0.14 per cent drop. Meanwhile, the Sensex also reached a record high of 85,978.25 during trading hours before slipping by 264.27 points, finishing at 85,571.85, down 0.31 per cent.

  • Rupee Closes 3 Paise Higher at 83.87 Against US Dollar | Economy News

    Mumbai: The rupee pared its initial gains and settled for the day 3 paise higher at 83.87 against the American currency on Monday, weighed down by a surge in crude oil prices.

    Forex traders said the Indian rupee gained in morning trade on rise in domestic markets and a weak US dollar. However, a surge in crude oil prices capped sharp gains for the local unit. At the interbank foreign exchange market, the local unit opened at 83.83 and touched an intra-day high of 83.80 against the US dollar and a low of 83.91.

    The domestic currency finally settled at 83.87, 3 paise higher from its previous close. On Friday, the rupee traded in a narrow range and settled higher by 3 paise at 83.90 against the American currency.

    Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.07 per cent higher at 100.78. The US dollar had witnessed a sharp correction and fell to the lowest level since July 2023, on dovish comments by Fed Chair Jerome Powell at the Jackson Hole Symposium.

    “We expect the rupee to trade with a slight positive bias on risk in global risk sentiments amid dovish Fed speak and rising expectations of a rate cut by the Fed in September. However, geopolitical tensions in the Middle East and rising crude oil prices may cap the sharp upside,” said Anuj Choudhary — Research Analyst at Sharekhan by BNP Paribas.

    Meanwhile, Brent crude, the global oil benchmark, advanced 0.92 per cent to USD 79.75 per barrel. On the domestic equity market front, Sensex advanced 611.90 points, or 0.75 per cent, to close at 81,698.11 points. The Nifty rose 187.45 points, or 0.76 per cent, to 25,010.60 points.

    Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday, as they purchased shares worth Rs 483.36 crore, according to exchange data.

    India’s forex reserves had jumped USD 4.546 billion to USD 674.664 billion during the week ended August 16, the Reserve Bank of India said on Friday. In the previous week, the forex kitty had dropped USD 4.8 billion to USD 670.119 billion.

  • Shares Of Zomato Hit An All-time High; Here’s Why | Economy News

    New Delhi: Shares of online food delivery app Zomato hit an all-time high on Monday after foreign brokerage UBS remained positive about the company and raised its target price for the stock by Rs 60 to Rs 320. At 1.39 pm zomato shares were trading at Rs 267 apiece, up Rs 2.50 or 0.95 percent.

    Zomato’s stock rose by Rs 15.5, or 5.9 percent, reaching a new record of Rs 280 on the BSE. It later settled at Rs 267 apiece. Zomato’s new peak surpasses the previous record of Rs 278.5 set on August 2. The brokerage’s target suggests the stock could rise by Rs 40, or 14.3%, from its current level, said Zeebiz website.

    According to Zee Business research, Zomato subsidiary Blinkit has reached several milestones ahead of the Rakhi festival, reaching sales of 693 Rakhis a minute.

    According to UBS, Zomato’s gross merchandise value (GMV) exceeded analysts’ expectations in the food delivery and Blinkit businesses in the June quarter. GMV is a key metric that determines the total value of sales of goods and services on a platform over a given period of time. It is a common metric used to gauge the performance of e-commerce businesses.

    Zomato Q1 FY25

    The online food aggregator recently reported a 74 per cent growth (year-on-year) in revenue to Rs. 4,206 crore in Q1 FY25.

    It posted over 126 per cent growth in net profit to reach Rs. 253 crore in the April-June quarter (Q1 FY25), from Rs. 2 crore in net profit in the same quarter last year.

  • Marico Stocks Down Nearly 5% As Key Bangladesh Biz May Get Hit Amid Unrest | Markets News

    Mumbai: The stock of fast-moving consumer goods (FMCG) company Marico Ltd slumped nearly 5 per cent on Tuesday amid the political unrest in Bangladesh as the neighbouring country contributes almost 11 per cent of its consolidated business. 

    The company’s stock was trading around Rs 640 a piece (down 4.9 per cent) during the day trading.

    Marico Bangladesh Ltd clicked Rs 1,103 crore in revenue in the last fiscal (FY24), making up 11 per cent of Marico’s consolidated revenue. For international business on a standalone basis, Bangladesh contributes around 44 per cent of the total revenue.

    Marico’s net profit in the April-June quarter went up 8.7 per cent (year-on-year) to Rs 474 crore.

    The shares have gone up 12.89 per cent in the last 12 months and 17.78 per cent on a year-to-date (YTD) basis.

    In its April-June quarter result, the company said it aims to bring down the contribution from Bangladesh to less than 40 per cent by the end of fiscal 2027.

    In Q1 FY25, Bangladesh registered 10 per cent CCG (constant currency growth) as the business stayed resilient and sustained its momentum for Marico.

    The company said that the international business has grown from strength to strength in the face of transient macroeconomic and currency devaluation headwinds in select regions.

    “While Bangladesh and Vietnam have led from the front, the strong growth momentum in the MENA and South Africa businesses has visibly strengthened the broad-based construct and offers margin upside over the medium term,” Marico said in its quarterly results.

    This resulted in visible geographical diversification in the overall international business, reflecting in the reducing revenue dependence on Bangladesh business.

    The company said it will aim to maintain the double-digit constant currency growth momentum over the medium term.

    The FMCG volume trends in India continued to exhibit gradual improvement on a 2-year CAGR basis, with the trajectory in rural areas bearing more promise, while urban was stable.

  • Stock Market Crash: As Market Continues To Bleed, Check 5 Factors Behind The Massive Fall Today | Markets News

    New Delhi: The stock market bloodbath on Monday eroded Investors’ wealth by Rs 17.11 lakh crore during the afternoon trade to Rs 4,40,04,979.86 crore. Led by a massive decline in its Asian peers, Indian stock market continued to bleed in the afternoon trade with BSE Sensex falling 2,686.09 points or 3.31 per cent to 78,295.86. The NSE Nifty on the other hand tanked 824 points or 3.33 per cent to 23,893.70.

    Siddarth Bhamre, Head of Research, Asit C Mehta Investment Interrmediates Ltd explained 5 factors behind the Indian stock market’s decline.

    1. Worsening US Job data – US non-farm payrolls were far below markets expectation and unemployment data rose to 4.3% instead of expectations of 4.1%. Rise in unemployment could reduce the probability of soft landing which FED was trying to keep interest rate higher to control inflation.

    2.  Reducing corporate profitability in US – Many large US companies whether in technology or consumption space have shown big correction as their earning disappointed.

    3. Global Equities and Geopolitics – Global market correction led by US and geopolitical issues pertain to Iran and Israel have also added its weight to this correction.

    4. Rich valuation of Indian equities – Indian markets have factored in several negatives news and continued to climb on wall of worries on back of very strong liquidity. There is not enough valuation support at this point in time.

    5. High weightage of banks and IT companies – More than 50% of Nifty or Sensex weightage is of BFSI and IT companies. The external factors today have more impact on IT and banking at large and hence quantum of correction is accordingly higher.

  • Market Valuation of Top 8 Firms Rises by Rs 2.10 Lakh Crore; TCS And LIC AT Forefront | Markets News

    New Delhi: The combined market valuation of eight of the top-10 most valued firms jumped Rs 2,10,330.26 crore in a holiday-shorted last week, with Tata Consultancy Services (TCS) and Life Insurance Corporation of India emerging as the biggest gainers.

    Last week, the BSE benchmark climbed 85.31 points or 0.10 per cent. The 30-share BSE Sensex hit its new all-time high of 81,587.76 on Friday. Stock markets were closed on Wednesday on account of Muharram.

    From the top-10 group, the valuation of TCS zoomed Rs 42,639.16 crore to Rs 15,56,772.61 crore. The market capitalisation (mcap) of Life Insurance Corporation of India (LIC) surged Rs 36,748.23 crore to Rs 7,01,695.24 crore.

    Infosys added Rs 33,569.16 crore, taking its valuation to Rs 7,44,396.43 crore, while State Bank of India’s mcap climbed Rs 26,372.23 crore to Rs 7,93,576.49 crore. Hindustan Unilever’s mcap soared Rs 24,494.49 crore to Rs 6,40,651.30 crore, and that of ITC jumped Rs 19,420.52 crore to Rs 5,92,679.30 crore.

    The market valuation of Bharti Airtel went up by Rs 16,223.03 crore to Rs 8,31,928.39 crore, and that of ICICI Bank climbed Rs 10,863.44 crore to Rs 8,78,531.60 crore. However, the market valuation of Reliance Industries diminished by Rs 56,799.01 crore to Rs 21,03,829.74 crore.

    The mcap of HDFC Bank declined by Rs 13,124.01 crore to Rs 12,22,701.34 crore. In the top-10 table, Reliance Industries retained the title of the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.

  • HDFC Bank Posts 35 Per Cent Rise In YoY Profit; 2 Per Cent Dip From Last Quarter Of FY24 | Markets News

    New Delhi: Banking giant HDFC bank posted a standalone net profit of Rs 16,175 crore, climbing 35.3 per cent on a Year-On-Year (YoY) basis in the first quarter of Financial year (FY) 2025, as per the financial statement filed by the company with the stock exchanges on Saturday.

    The lender in the same period last year had reported a net profit of Rs 11952 crore. However, the net profit in the first quarter of FY 25 has dropped 2 per cent to Rs 16,511.85 crore, as compared to Rs 16512 crore in the fourth quarter of financial year 2024.

    The bank’s net interest income (NII) rose to 2.6 per cent quarter-on-quarter to Rs 29,837 crore. Net Interest Income (NII) is the difference between the revenue generated from a bank’s interest-bearing assets and expenses incurred while paying its interest-bearing liabilities. 

    The bank had reported Rs 29,078 crore in the March period.The net non-performing asset (NPA) of the bank upped 17.5 per cent sequentially. It stood at Rs 9508.4 crore in the first quarter of FY 25 as compared to Rs 8.091.7 crore in the fourth quarter of last year.

    The gross NPA of the bank also rose by 6 per cent quarter on quarter to Rs 33,026 crore in the June quarter, as compared to Rs 31,173 crore in the preceding March quarter of FY 2024.The bank had reported a 37 per cent YoY jump in the net profit at Rs 16,511 crore in the March quarter. 

    The net interest income had grown by 29 per cent YoY to Rs 29,077 crore.In the last trading session on Friday this week, the HDFC Banks stocks ended in red territory as they lasted 0.46 per cent lower at Rs 1607 apiece on the National Stock Exchange (NSE).The bank’s stocks have seen a decline of around 1.4 per cent over the past five trading sessions. However the the stocks of the bank have performed well rising 12.45 per cent in the last six months. 

  • Stocks In Spotlight 18 July 2024: Five Stocks To Track Today | Markets News

    New Delhi: Markets continued its record-breaking run for the third straight day on Tuesday with Sensex and Nifty closing at fresh record high levels. Sensex ended at 80,716.55 and Nifty finished at 24,613. Markets were closed yesterday for Muharram.

    “Despite the recent slowdown in Nifty’s upward momentum, the overall sentiment remains positive, with a higher support base forming in the 24,150-24,350 range. Therefore, our advice remains focused on careful stock selection and effective trade management strategies,” Ajit Mishra – SVP, Research, Religare Broking Ltd said.

    Meanwhile, ahead of the market opening today, as per Zeebiz, Asian Paints, LTIMindtree, Tanla Platforms, Can Fin Homes are likely be in focus today.