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Sensex crossed the 79,000 mark for the first time, hitting a new lifetime high of 79,013 points

D-street rally continues: Markets gain for 4th consecutive session; Nifty, Sensex hit record highs

Sensex crossed the 79,000 mark for the first time, hitting a new lifetime high of 79,013 points

The markets traded positively for the fourth consecutive session, gaining over half a percent and continuing the current uptrend. Benchmark indices reached new record highs in today's session, with the Nifty 50 surpassing the 23,900 mark for the first time, hitting a fresh record high of 23,974 points and approaching the 24,000 level. Also read/watch -<a title=" Banks to remain closed for 12 days in July due to holidays and weekends " href="https://www.editorji.com/business-news/markets/banks-to-remain-closed-for-12-days-in-july-due-to-holidays-and-weekends-1719486741359"> Banks to remain closed for 12 days in July due to holidays and weekends</a> During the day, the Nifty touched the 24,000 mark. It took 23 sessions for the Nifty 50 to move from 23,000 to 24,000. Meanwhile, the Sensex crossed the 79,000 mark for the first time, hitting a new lifetime high of 79,013 points. IT and energy sectors were among the top gainers. Among individual stocks, five constituents of the Nifty 50 &mdash;UltraTech Cement, Grasim Industries, Reliance Industries, ICICI Bank, and Axis Bank&mdash;touched new 52-week highs in today's trade.

Equity markets witness a fourth consecutive session of decline as the Sensex and Nifty face heavy volatility, ending lower due to concerns over fading rate cut hopes and persistent foreign fund outflows.

Sensex and Nifty extend losing streak to fourth straight session amidst volatility and FII exodus

Equity markets witness a fourth consecutive session of decline as the Sensex and Nifty face heavy volatility, ending lower due to concerns over fading rate cut hopes and persistent foreign fund outflows.

Equity benchmark indices Sensex and Nifty faced heavy volatility on Thursday and ended lower, taking their losing streak to the fourth straight session, dragged by bank stocks and foreign fund outflows.
Concerns over fading rate cut hopes and persisting FII fund exodus from domestic equities also dampened investors' sentiment.
The 30-share BSE Sensex declined abruptly post noon, reflecting heavy fluctuations, wiping out all its early gains. It tanked 454.69 points or 0.62 per cent to settle at 72,488.99. During the day, it gyrated 1,107.38 points between the day's high and low.
The NSE Nifty declined 152.05 points or 0.69 per cent to 21,995.85. It hit a high of 22,326.50 and a low of 21,961.70 during the day.
From the Sensex basket, Nestle declined the most by over 3 per cent amid reports that the global FMCG major sold infant milk products with more sugar content in less developed countries.
Titan Company, Axis Bank, NTPC, Tata Motors, ITC, Tech Mahindra, Bajaj Finserv, ICICI Bank, HDFC Bank and Bajaj Finance were the other laggards.
Bharti Airtel, Power Grid, Infosys and Larsen &amp; Toubro were among the gainers.
"Domestic benchmarks extended losses amid mixed sentiments, emerged from escalating geopolitical tensions in the Middle East, and as hopes of US rate cuts waned. Meanwhile, investors will closely monitor the Q4 outcomes for further directions," said Vinod Nair, Head of Research, Geojit Financial Services.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled in the positive territory.
European markets were trading mostly with gains. Wall Street ended lower on Wednesday.
Global oil benchmark Brent crude declined 0.63 per cent to USD 86.74 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,468.09 crore on Tuesday, according to exchange data.
"Markets witnessed frenzied selling towards the closing stages in a highly volatile trading session, as concerns over fading rate cut hopes and persisting FII fund exodus from local stocks dampened investors' sentiment.
"Even as the Indian economy has been resilient and managed to dodge global worries, worries of stubborn inflation, rising instances of geopolitical tensions and delay in interest rate cut has fuelled profit-taking," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Stock markets were closed on Wednesday for Ram Navami.
The 30-share BSE benchmark tanked 456.10 points or 0.62 per cent to settle at 72,943.68 on Tuesday. The NSE Nifty declined 124.60 points or 0.56 per cent to finish at 22,147.90

Amid concerns over the Iran-Israel conflict, the Sensex and Nifty both experienced a 1% decline, signalling market unease. Analysts anticipate ongoing consolidation amidst geopolitical tensions

Sensex, Nifty dip 1% amid Iran-Israel conflict concerns; consolidation expected to persist

Amid concerns over the Iran-Israel conflict, the Sensex and Nifty both experienced a 1% decline, signalling market unease. Analysts anticipate ongoing consolidation amidst geopolitical tensions

Equity benchmark indices tanked in early trade on Monday, with the Sensex tumbling 929.74 points, amid the ongoing conflict in the Middle East and weak trends from global markets.
Foreign fund outflows and hotter-than-expected US inflation data also played spoilsport for the markets.
Extending its previous day's decline, the 30-share BSE Sensex tanked 929.74 points to 73,315.16. The NSE Nifty declined 216.9 points to 22,302.50. 
In light of the notable upward trend in recent weeks, analysts anticipate a period of consolidation over the next few days. This anticipation coincides with the unveiling of fourth-quarter financials by India Inc and the commencement of Lok Sabha voting later this week.
Across the board, sectors witnessed a downturn, with Bank Nifty, Nifty FMCG, and Nifty Realty indices emerging as the primary sectoral underperformers. Each experienced a decline of over 1% within the initial trading hour, painting the market in shades of red.
From the Sensex basket, Tata Motors, State Bank of India, Tata Steel, Power Grid, NTPC, Bajaj Finserv, Bajaj Finance and Asian Paints were the major laggards.
Tata Consultancy Services climbed nearly 1% after the IT services major on Friday reported a 9% growth in net profit at Rs 12,434 crore in January-March quarter of FY24 due to strong domestic business even as the company struggled in its key markets overseas.
Nestle and HCL Technologies were the other gainers.
In Asian markets, Seoul, Tokyo and Hong Kong were trading lower while Shanghai quoted in the positive territory.
Wall Street ended significantly lower on Friday.
Global oil benchmark Brent crude dipped 0.17 per cent to USD 90.30 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 8,027 crore on Friday, according to exchange data.
"There are many headwinds that will weigh on markets today: the renewed conflict in the Middle East, proposed changes in the India-Mauritius tax treaty and the hotter-than-expected US inflation are negatives," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
But partly these negatives are in the price since a retaliation from Iran was expected and the higher US inflation was discounted by the market on Friday, he added.
The Income Tax Department on Friday said the amended India-Mauritius protocol on double taxation avoidance agreement (DTAA) is yet to be ratified and notified by the department.
India and Mauritius on March 7, 2024, signed an amendment to the DTAA and included a principal purpose test (PPT) in the pact which aims to curtail tax avoidance by ensuring that treaty benefits are granted only for transactions with a bona fide purpose.
The BSE benchmark tanked 793.25 points or 1.06 per cent to settle at 74,244.90 on Friday. The NSE Nifty declined 234.40 points or 1.03 per cent to 22,519.40.
Retail inflation declined to a five-month low of 4.85 per cent in March mainly due to cooling food prices, inching towards the Reserve Bank's target of 4 per cent, according to official data released on Friday.
India's industrial production growth accelerated to a four-month high of 5.7 per cent in February 2024, mainly due to the good performance of the mining sector, according to official data released on Friday.&nbsp;

Despite facing challenges such as a depreciating rupee and selling pressure in small-cap stocks, the markets managed to gain modestly. 

Sensex, Nifty rebound as Reliance, ITC shares rally

Despite facing challenges such as a depreciating rupee and selling pressure in small-cap stocks, the markets managed to gain modestly.&nbsp;

Benchmark equity indices Sensex and Nifty rebounded on Wednesday, due to bargain hunting in index majors Reliance Industries, ITC and SBI amid a largely firm trend in global equities.
However, a depreciating rupee and selling pressure in small-cap stocks restricted the gains, traders said.
In a highly volatile trade, the 30-share BSE Sensex rose 89.64 points or 0.12 per cent to settle at 72,101.69. During the day, it jumped 390.62 points or 0.54 per cent to 72,402.67. The benchmark hit its day's low of 71,674.42, down 337.63 points or 0.46 per cent.
The NSE Nifty climbed 21.65 points or 0.10 per cent to finish at 21,839.10.
"Lifted by favourable global sentiment and solid direct tax collection, Indian markets rebounded, closing with modest gains. Robust FII and DII inflows sustained the market.
"The US Fed is likely to delay the cut rate to the latter part of the year due to a resilient economy. Domestic mid and small caps are likely to lag large caps driven by premium valuations in the short-term," said Vinod Nair, Head of Research, Geojit Financial Services.
From the Sensex basket, Maruti, Nestle, Power Grid, State Bank of India, ITC, Reliance Industries, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank and Asian Paints were the major gainers.
In contrast, Tata Steel, Axis Bank, Tata Motors and HDFC Bank were among the laggards.
In the broader market, the BSE midcap gauge climbed marginally by 0.05 per cent and smallcap index dipped 0.14 per cent.
Among the sectoral indices, energy jumped 1.09 per cent, oil &amp; gas (1.07 per cent), power (0.92 per cent), telecommunication (0.61 per cent), auto (0.47 per cent) and utilities (0.45 per cent).
On the other hand, commodities, financial services, IT, metal and teck were the laggards.
"Nifty recovered losses to end higher on March 20. Asian shares closed mostly higher while European markets opened lower Wednesday as investors awaited the latest signals from the Federal Reserve on the timing of cuts to interest rates," said Deepak Jasani, Head of Retail Research, HDFC Securities.
In Asian markets, Seoul, Shanghai, and Hong Kong settled in positive territory.
Japanese stock exchanges were closed for a holiday.
European markets were trading on a mixed note.
Wall Street ended with gains in the overnight trade on Tuesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,421.48 crore on Tuesday, according to exchange data.
The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17 on higher advance tax mop-up.
The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 18,90,259 crore (as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).
Global oil benchmark Brent crude declined 0.80 per cent to USD 86.68 a barrel.
Falling for the eighth straight session, the rupee declined 14 paise to 83.17 against the US dollar on Wednesday.
The 30-share BSE benchmark tanked 736.37 points or 1.01 per cent to settle at 72,012.05 on Tuesday. The NSE Nifty slumped 238.25 points or 1.08 per cent to finish at 21,817.45.

Equity indices Sensex and Nifty surged to new all-time highs during a special trading session, bolstered by robust GDP growth of 8.4% and strong performance in the manufacturing sector

Sensex, Nifty hit another record high during special trading session

Equity indices Sensex and Nifty surged to new all-time highs during a special trading session, bolstered by robust GDP growth of 8.4% and strong performance in the manufacturing sector

Equity benchmark indices Sensex and Nifty hit fresh all-time peaks in a special trading session on Saturday, extending their previous day's sharp rally, amid impressive GDP data and foreign fund inflows.
Leading stock exchanges BSE and NSE are conducting a special trading session in the equity and equity derivative segments on Saturday to check their preparedness to handle major disruption or failure at the primary site.
The special live trading session will have intra-day switch over from Primary Site (PR) to Disaster Recovery (DR) site.
The 30-share BSE Sensex climbed 236.77 points to reach its all-time high of 73,982.12 in early trade. The Nifty went up by 81.5 points to hit its record peak of 22,420.25.
There will be two trading sessions -- the first from 9:15 am to 10 am on the PR, and the second from 11:30 am to 12:30 pm on the DR site, according to the exchanges.
"Trading members are requested to note that the exchange will conduct a special live trading session with intraday switch over from Primary Site (PR) to Disaster Recovery Site (DR) on Saturday, March 2, in equity and equity derivatives segments," BSE and NSE said in separate circulars.
Among the Sensex firms, Tata Steel, Larsen &amp; Toubro, Tata Motors and State Bank of India were the major gainers.
Mahindra &amp; Mahindra, Titan, ICICI Bank and NTPC were among the laggards.
India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 -- the fastest pace in one-and-half years.
The US markets ended with gains on Friday.
India's manufacturing sector growth climbed to a five-month high in February amid a sharper uptick in factory production and sales, supported by both domestic and external demand, a monthly survey said on Friday.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from 56.5 in January to 56.9 in February, pointing to the strongest improvement in the health of the sector since September 2023.
Foreign Institutional Investors (FIIs) bought equities worth Rs 128.94 crore on Friday, according to exchange data.
The BSE benchmark jumped 1,245.05 points or 1.72 per cent to reach 73,745.35 -- its all-time closing peak. The Nifty climbed 355.95 points or 1.62 per cent to settle at a new closing high of 22,338.75.
Global oil benchmark Brent crude climbed 2 per cent to USD 83.55 a barrel.&nbsp; Also Watch: <a href="https://www.editorji.com/business-news/economy/february-gst-collection-at-rs-1-68-lakh-crore-up-12-5-1709300404030">February GST collection at Rs 1.68 lakh crore, up 12.5%</a>

ICICI Securities anticipates Nifty to hit 23,400 by June, advising investors to buy during market dips amidst pre-election optimism.

ICICI Securities predicts Nifty surge to 23,400 amid pre-election rally

ICICI Securities anticipates Nifty to hit 23,400 by June, advising investors to buy during market dips amidst pre-election optimism.

Investors are being urged to brace for a potential pre-election rally in the stock market, with the Nifty anticipated to surge to 23,400 by June, according to brokerage firm ICICI Securities. The company advises investors to capitalize on current market volatility by purchasing on dips.
"Dharmesh Shah of ICICI Securities stated, 'Empirically, in an election year Feb-Mar bottom offers fresh entry opportunity to ride next leg of up move in the run up to General Election garnering minimum returns of 14 per cent.'"
ICICI Securities forecasts that the Nifty will establish a 'durable bottom' in the February-March period, with support levels expected between 20,500-20,800. The report indicates that typical bull market corrections in the Nifty average around 8%, followed by new highs. Thus, the current volatility should be embraced as a buying opportunity.
The brokerage anticipates certain sectors to outperform in the lead-up to elections, including PSU stocks, IT, Power, capital goods, metals, and BSE PSU stocks.
Nitin Kunte of ICICI Securities emphasized the historical context, saying, "Going by four-decade history, median returns in an election year have been 17%. Therefore, one should use volatility during an election year as a buying opportunity."
Furthermore, ICICI Securities highlighted that the Nifty to Nifty500 ratio is currently at the bottom of the cycle. "Over two decades, this ratio bottomed out at 1 on two occasions, followed by large-caps performing in subsequent quarters."
As investors gear up for potential market movements in the coming months, ICICI Securities' insights provide valuable guidance for navigating the volatile landscape and seizing opportunities for growth. Also Watch:<a href="https://www.editorji.com/business-news/markets/china-s-stock-market-rout-deepens-in-another-volatile-session-small-cap-index-csi-1000-down-over-6-1707128542042"> China's stock market rout deepens in another volatile session; Small-cap index CSI 1000 down over 6%</a>

Both the Nifty 50 and Sensex concluded the day in negative territory, reflecting the market's reaction to the fiscal measures outlined in the budget.

Budget day blues: Nifty 50 and Sensex close in the red, PSU banks surge amid capex boost

Both the Nifty 50 and Sensex concluded the day in negative territory, reflecting the market's reaction to the fiscal measures outlined in the budget.

On Thursday, February 1, the domestic stock markets witnessed a decline as Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 for the upcoming financial year (FY25). The Nifty 50 and Sensex both closed in the red, responding to the fiscal measures outlined in the budget.
The Budget, in line with expectations, emphasized fiscal consolidation, infrastructure development, agriculture, green growth, and railways. Analysts praised the government's fiscal prudence, deeming it positive for both the economy and the stock market.
Despite the overall positive sentiment, market experts noted a potential disappointment due to lower-than-expected infrastructure spending. The Nifty 50 experienced a dip of 67 points, reaching an intraday low of 21,658, ultimately closing 28 points lower at 21,697, reflecting a 0.13% decrease. Similarly, the Sensex dropped 177 points to touch an intraday low of 71,574, concluding 107 points lower at 71,645.30, marking a 0.15% decline.
Mid and small-cap stocks underperformed, with the BSE Midcap index falling by 0.40% and the Smallcap index witnessing a 0.22% decline.
Global market sentiment also played a role in the downturn, influenced by weak cues from international markets. Following substantial losses on Wall Street the previous night, major European markets were also in the red at the time of the Sensex closing. The Bank of England's upcoming interest rate decision further added to the cautious market environment.
On the global front, the US Federal Reserve opted to maintain interest rates, adhering to expectations. However, the lack of clear signals on the timeline for rate reduction left investors uncertain about future developments. The combination of domestic fiscal measures and global economic concerns contributed to the day's market fluctuations.

HDFC Bank, PowerGrid, NTPC, Bajaj Finance, Sun Pharma, ICICI Bank, ITC, and Bajaj Finserv led gains among Sensex companies.

Nifty, Sensex trade flat on Saturday's full-day trading session

HDFC Bank, PowerGrid, NTPC, Bajaj Finance, Sun Pharma, ICICI Bank, ITC, and Bajaj Finserv led gains among Sensex companies.

Equity benchmark indices opened on a positive note on Saturday, with Sensex rising 250 points on the back of an uptick in financial stocks.
The 30-share BSE Sensex rose 250 points to settle at 71,933 points in early trade. The Nifty climbed 75 points to settle at 21,698 points.
Shares of HUL and Reliance Industries were under pressure after their December quarter results.
Among the Sensex firms, HDFC Bank, PowerGrid, NTPC, Bajaj Finance, Sun Pharma and ICICI Bank, ITC, Bajaj Finserv were the major gainers.
HUL, Wipro, UltraTech, HCL Tech were among the losers.
Most of the financial stocks were trading in the green.
On Friday, the Dow and the S&amp;P 500 set new record closing highs while the tech-heavy Nasdaq reached its best closing level in two years. Asian stocks had ended on a mixed note.
According to analysts, domestic equity markets are likely to witness subdued activity amid low participation from global as well as domestic investors.
"As the breadth of the market is very strong, we expect the stock-specific bullish trend is likely to continue. In the near term, Nifty could face resistance at 21,850, while support is seen at 21,500," Deepak Jasani, Head of Retail Research at HDFC Securities, said.
Late on Friday, NSE and BSE announced that there will be normal trading sessions on Saturday while the market will be closed on January 22.
On Friday, the 30-share BSE Sensex jumped 496.37 points or 0.70 per cent to settle at 71,683.23 points. The Nifty climbed 160.15 points or 0.75 per cent to close at 21,622.40 points.
Global oil benchmark Brent crude declined 0.68 per cent to USD 78.56 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,689.68 crore on Friday, according to exchange data.&nbsp;

HDFC's Q3 results disappointment triggered a chain reaction, adversely affecting other banking stocks, especially those of private sector lenders. The Bank Nifty index, indicative of the banking sector's performance, experienced a notable 4% decline.

Stock market crash: Markets continue downward spiral, Nifty below 21,500; HDFC Bank extends losses

HDFC's Q3 results disappointment triggered a chain reaction, adversely affecting other banking stocks, especially those of private sector lenders. The Bank Nifty index, indicative of the banking sector's performance, experienced a notable 4% decline.

In a tumultuous start to the trading day, the stock markets witnessed a sharp downturn as the Sensex plummeted by 561 points to 70,939, and the Nifty followed suit with a substantial 165-point dip, resting at 21,406. The early morning sell-off painted a grim picture as all sectoral indices traded in the red, reflecting widespread concerns among investors. Notably, Tata Motors, Adani Ports, Axis Bank, Bharti Airtel, and Reliance Industries emerged as key gainers on the Nifty, providing a semblance of relief amid the broader decline. Conversely, major losers included LTIMindtree, Power Grid Corp, HDFC Bank, Asian Paints, and SBI Life Insurance, with the latter drawing attention due to a significant dip in HDFC Bank shares following disappointing Q3 results. HDFC Bank shares continued their downward spiral on January 18, extending the decline by over 3%, as the fallout from disappointing Q3 results rattled investors. The bank's US-listed shares had already suffered a substantial 9% drop overnight, reaching $55.5 &ndash; marking the steepest single-day decline since March 2020.
Over the past two days, the HDFC Bank ADR has experienced a significant 15% plunge, mirroring the domestic market sentiment where HDFC Bank stock recorded a substantial 10% dip. The troubles for the country's largest private lender began on January 17, when its shares plummeted over 8% to close at ₹1,536 after the release of lacklustre October-December quarter results for the fiscal year 2023-24.
Investor disappointment in the wake of the Q3 results created a domino effect, dragging down other banking stocks, particularly those of private sector lenders. The Bank Nifty index, reflective of banking stocks' performance, witnessed a sharp 4% decline, the steepest single-day fall since March 2022.
HDFC Bank, commanding a substantial weightage of over 14% in the benchmark Nifty 50 index, emerged as the major drag behind the index's decline. The bank's struggles were exacerbated by a key miss in net interest margins (NIM) during Q3FY24, attributed to elevated funding costs. Additionally, higher provisions and a decadal low in earnings per share (EPS) growth further fueled the decline.
Also Watch: <a href="https://www.editorji.com/business-news/markets/stock-markets-crash-sensex-plummets-1600-points-as-markets-suffer-biggest-single-day-loss-since-2022-1705489927386">Stock market crash: Sensex plummets 1600 points as markets suffer biggest single day loss since 2022</a>

The positive momentum is a result of a surprising surge in sales last quarter, exceeding investor expectations and brightening the industry's outlook. TCS and Infosys are leading the way in this market rally.

IT giants TCS and Infosys lead $22 billion surge in market value amid earnings season optimism

The positive momentum is a result of a surprising surge in sales last quarter, exceeding investor expectations and brightening the industry's outlook. TCS and Infosys are leading the way in this market rally.

India's leading IT majors, including Tata Consultancy Services (TCS), Infosys, and others, have collectively added a staggering $22 billion in market value over just two trading sessions since the commencement of the earnings season.
The upbeat momentum stems from last quarter's unexpected surge in sales, surpassing investor expectations and casting a positive light on the industry's outlook. TCS and Infosys have emerged as frontrunners in this market rally.
Wipro witnessed a remarkable 14% intraday surge on Monday, its most substantial leap since July 2020, buoyed by an unforeseen revenue beat and resulting in rating upgrades from various brokerages. HCL Technologies soared to a new all-time high propelled by optimistic revenue growth predictions.
Global firms continue to pursue initiatives focused on cost-cutting and efficiency improvement, despite no substantial rebound in discretionary spending on technology projects. Indian IT companies are showcasing their prowess in artificial intelligence, with Infosys CEO Salil Parekh noting that nearly every client discussion involves generative AI.
Earnings upgrades at major IT firms echo the overall positive sentiment. Following last week's results, Infosys saw upgrades from at least six brokerages, while JPMorgan Chase and Co upgraded ratings for Wipro's US- and India-listed shares.
Analyst Karan Uppal from Phillipcapital anticipates a turnaround in earnings in the upcoming fiscal year starting in April, dispelling concerns of further downgrades to estimates. The industry's resilience and adaptability amid global uncertainties reflect a promising trajectory for India's IT sector. Also Watch: <a href="https://www.editorji.com/business-news/indian-airlines-soar-to-new-heights-record-152-million-passengers-in-2023-1705375978828">Indian airlines soar to new heights, record 152 million passengers in 2023</a>

Sensex & Nifty skyrocket! Bullish sentiment grips Indian markets, Sensex at 73,000, Nifty above 22,000. Read why!

New Heights! Sensex Blasts Past 73,000, Nifty Hits 22,000!

The 30-share BSE Sensex gained 720 points to reach an all-time high of 73,288 during early trade. The Nifty also demonstrated a significant climb, advancing 187 points to establish a lifetime peak at 22,081.

Markets at record high: Sensex crosses 73,000, Nifty surpasses 22,000

<h2>The 30-share BSE Sensex gained 720 points to reach an all-time high of 73,288 during early trade. The Nifty also demonstrated a significant climb, advancing 187 points to establish a lifetime peak at 22,081.</h2>

In the early hours of Monday's trading session, benchmark equity indices achieved unprecedented milestones, witnessing the Sensex surpassing the 73,000 level for the first time, while the Nifty marked a historic breakthrough by exceeding the 22,000 mark. This surge was predominantly fueled by a substantial rally in IT stocks.
The 30-share BSE Sensex experienced a robust ascent, gaining 720 points to reach an all-time high of 73,288 during early trade. The Nifty also demonstrated a significant climb, advancing 187 points to establish a lifetime peak at 22,081.
Despite a reported 11.74% decline in consolidated net profit to Rs 2,694.2 crore for the third quarter ending December 31, 2023, Wipro emerged as a standout performer among the Sensex firms, recording a nearly 11% surge. Other notable gainers included Tech Mahindra, HCL Technologies, Infosys, Tata Consultancy Services, State Bank of India, and HDFC Bank.
HCL Technologies reported a substantial 6.2% increase in consolidated net profit, reaching Rs 4,350 crore&mdash;the highest ever on a quarterly basis&mdash;for the three months ending December 2023. This notable achievement was attributed to growth in both services and software businesses.
On the flip side, Hindustan Unilever, Bajaj Finance, NTPC, and Asian Paints were among the laggards during this extraordinary market session.
Also Watch: <a href="https://www.editorji.com/business-news/economy/retail-inflation-rises-to-a-4-month-high-of-5-69-in-december-1705066117056">Retail inflation rises to a 4-month high of 5.69% in December</a>

Equity benchmark indices declined in early trade on Monday, the first trading day of the New Year 2024, amid profit-taking after the recent sharp rally and lack of trends from global markets

Markets off to weak start on first day of trade of 2024; analysts warn of possible corrections

<h2>Equity benchmark indices declined in early trade on Monday, the first trading day of the New Year 2024, amid profit-taking after the recent sharp rally and lack of trends from global markets</h2>

Equity benchmark indices declined in early trade on Monday, the first trading day of the New Year 2024, amid profit-taking after the recent sharp rally and lack of trends from global markets.
In 2023, the BSE benchmark jumped 11,399 points or 19 per cent, and the Nifty climbed 3,626 points or 20 per cent.
On Monday, the 30-share BSE Sensex fell 207 points to 72,032 after a muted beginning. The Nifty declined 47 points to 21,685. Analysts prediction&nbsp;
Analysts anticipate a brief consolidation in Indian equities before resuming their upward trend. Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services Ltd, foresees continued positive momentum driven by robust macros, strong FII inflows, and favorable global cues. The upcoming week is poised to be eventful with the release of significant global economic data, focusing attention on the automobile sector's December sales figures.
Also read/watch - <a title="Gold prices to reach Rs 70,000 in 2024, say experts" href="https://www.editorji.com/business-news/gold-prices-to-reach-rs-70-000-in-2024-says-experts-1704106449755">Gold prices to reach Rs 70,000 in 2024, say experts</a>
VK Vijayakumar, chief investment strategist at Geojit Financial Services, describes a favorable scenario for both the economy and the market at the onset of the new year. With a robust growth outlook, stability in macroeconomic indicators, and anticipated strong corporate earnings, the economy is on a promising trajectory. He highlights the health of the banking system and foresees stability post-General elections, contributing to this optimistic sentiment.
Globally, Vijayakumar notes signs of a potential soft landing for the US economy, with favorable indicators like the US 10-year bond yield and a stable dollar index acting as market tailwinds. He predicts strong FPI inflows throughout 2024. However, he cautions that while the overall news appears positive, market valuations are stretched, raising vulnerability to corrections due to unforeseen risks. He advises favoring large-caps for safety.
Sharekhan also expresses optimism for 2024, citing promising market highs and healthy economic growth despite global slowdown concerns. However, the brokerage notes stretched valuations in certain segments, particularly evident in the micro-cap rally and fervor in primary market issues, including the SME segment.
Sharekhan emphasizes that while the Nifty's current trailing 12-month price-earning ratio stands at 23.4x, which isn't cheap, it's reasonable considering the expected 12-14 percent CAGR in earnings growth over the next two years.
Overall, the consensus suggests an optimistic outlook tempered by caution due to stretched valuations, advising a careful approach and a preference for large-cap investments in the current market landscape.

Overall, the Nifty 50 and BSE Sensex, along with broader market indices, closed out 2023 positively, maintaining their buoyancy close to all-time highs. Nifty 50 and BSE Sensex, recorded gains of 20% and 18%, respectively.

After a stellar year, Nifty, Sensex end 2023's last trading session in the red

Overall, the Nifty 50 and BSE Sensex, along with broader market indices, closed out 2023 positively, maintaining their buoyancy close to all-time highs. Nifty 50 and BSE Sensex, recorded gains of 20% and 18%, respectively.

Domestic markets concluded the final trading session of 2023 in negative territory, halting a five-day winning streak due to profit-taking among investors. The decline primarily impacted banking and IT sectors, which hold significant weight in the Nifty and Sensex.
The Sensex, comprising 30 shares, dipped by 170 points, settling at 72,240. Similarly, the Nifty 50 saw a decrease of 47 points, concluding the day and year at 21,731. Despite this downturn, the market exhibited a preference for advancing stocks. Out of the total, 1,758 shares progressed, 1,533 shares declined, and 54 remained unchanged.
Overall, both the Nifty 50 and BSE Sensex, as well as broader market indices, wrapped up 2023 on a positive note. These benchmark indices remained close to their all-time highs, exhibiting gains of 20 percent and 18 percent, respectively, over the course of the year.

Except HDFC Bank, all 30 Sensex shares ended negatively; Tata Steel dropped the most, down 4%. During the day, Nifty climbed 139 to reach its record high of 21,593.

Markets crash: Sensex falls nearly 1000 points, all sectors in the red

 Sensex and Nifty witness sharp downturn: All-time highs to 1% plunge 

Except HDFC Bank, all 30 Sensex shares ended negatively; Tata Steel dropped the most, down 4%. During the day, Nifty climbed 139 to reach its record high of 21,593.

Benchmark equity indices Sensex and Nifty went into a tailspin after hitting their fresh all-time high levels on Wednesday, closing down by over 1% as investors cashed in on the recent rally.
Erasing all its early gains, the 30-share BSE Sensex crashed 930 points to settle at 70,506. The index rose and later gained 475 points to hit its all-time high of 71,913. However, selling across the board dragged the barometer down from record highs and it dropped to a low of 70,302
The Nifty fell by 302 to 21,150. During the day, it climbed 139 to reach its record high of 21,593.
All the 30 Sensex shares, except for HDFC Bank, closed in the red. Tata Steel fell the most by 4%. NTPC, Tata Motors, HCL Technologies, Mahindra &amp; Mahindra, State Bank of India, Power Grid, Tech Mahindra, Larsen &amp; Toubro and JSW Steel also declined.
Global oil benchmark Brent crude jumped 0.76% to $79.83 a barrel.
According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth ₹601.52 crore on Tuesday.
In the broader market, the BSE smallcap gauge fell more than 3% and the midcap index also declined by 3% Also Watch: <a href="https://www.editorji.com/business-news/unclaimed-bank-deposits-surge-to-42-270-crore-in-2023-1703067194937">Unclaimed bank deposits surge to ₹42,270 crore in 2023</a>

In addition to a rise in net flows for all equity fund categories, small-cap mutual fund schemes had inflows of ₹4,495 crore in October 2023 compared to ₹2,678 crore the previous month.

Equity mutual fund inflow continues for 32nd month in October; record high SIP flows

<h2>In addition to a rise in net flows for all equity fund categories, small-cap mutual fund schemes had inflows of ₹4,495 crore in October 2023 compared to ₹2,678 crore the previous month.</h2>

Inflows into equity mutual funds surged 42% month-on-month to ₹19,957 crore in October, as per data released by the Association of Mutual Funds of India (AMFI). Flows into all three categories, small, mid and large cap remained strong.&nbsp;
The flows into equity funds in October was much higher than the ₹14,091 crore inflow seen in September.&nbsp; SIP inflows meanwhile, continued to soar, and touched another record high. SIP inflows increased to ₹16,927 crore in October versus ₹16,042 crore in September.&nbsp;
October also marks the 32nd consecutive month of net inflows. All the categories experienced inflows in equity segments.
The category was aided by inflows to the tune of ₹4,495 crore in small-cap funds, followed by ₹3,896 crore in thematic funds.
Apart from equities, debt-oriented schemes witnessed a net inflow of ₹42,634 crore in October after seeing outflows in the past two months. The segment had witnessed a net outflow of ₹1 lakh crore in September and ₹25,873 crore in August.
Overall, the 44-player mutual fund industry has witnessed an inflow of ₹80,528 crore in the month under review as compared to an outflow of ₹66,192 in September.
Overall AUMs are now at ₹46.71 lakh crore as of the end of Octoberas compared to ₹46.58 lakh crore at the end of September. Also Watch:<a href="https://www.editorji.com/business-news/inflows-into-equity-mutual-funds-surge-investors-pumped-in-20-245-crore-in-august-1694424107932"> Inflows into equity mutual funds surge, investors pumped in ₹20,245 crore in August</a>

 Retail investors held a 27% market share, with NSE's cash market seeing a peak of 10.7 million retail traders and ₹14,400 crore net cash investment in August, ending a five-month net selling streak

 August sees record participation of retail investor in derivatives market: Report

Retail investors held a 27% market share, with NSE's cash market seeing a peak of 10.7 million retail traders and ₹14,400 crore net cash investment in August, ending a five-month net selling streak

Retail investors in India have flocked to the derivatives market on the National Stock Exchange (NSE) in record numbers during the month of August, as per a mint report. This despite the market regulator's warnings surrounding the risks.&nbsp;
According to data from the NSE, the number of retail investors primarily trading index options on the exchange reached a new high of 4 million in August. This marked a notable increase from the 3.7 million recorded in July and was well above the monthly average of 2.8 million observed throughout the previous fiscal year (2022-23). This surge in retail participation can be attributed to the growing popularity of zero-day options, which offer daily expirations at relatively lower costs.
Speaking to Mint, Chandan Taparia, Vice President of Derivatives and Technical Research at Motilal Oswal Financial Services Ltd (MOFSL), noted, "Retail interest in zero-day options has been increasing and has hit a crescendo so far this fiscal (2023-24) with markets breaking out of the December high." He also pointed out that the popularity of daily index options is evident with BSE's introduction of weekly Sensex options earlier this year.
Zero-day options allow traders to speculate on daily price movements and tend to be more affordable than monthly expiration options. Retail investors are drawn to these options due to their cost-effectiveness and the potential for substantial gains. However, it's important to note that options lose value as they approach their expiration date, and option sellers are often more knowledgeable and financially stable than buyers.
To address the risks associated with derivatives trading, the Securities and Exchange Board of India (SEBI) mandated that brokers display mandatory risk disclosures on their websites and each derivatives order. These disclosures highlight the challenges and potential losses in derivatives trading.
Before punching an online order, investors must click on the &ldquo;I Understand&rdquo; button, which runs risk disclosures like &ldquo;Nine out of 10 individual traders in equity Futures and Options Segment incurred net losses&rdquo; and &ldquo;On an average, loss makers registered net trading loss close to ₹50,000
U.R. Bhat, Co-founder and Director of Alphaniti Fintech, highlighted to Mint, that the low cost of weekly options is a significant attraction for retail investors. He stated, "Zero-day options tend to be cheaper than monthly expiry options, so retail investors are drawn to them due to their affordability and the hope of earning substantial profits."
The NSE initially introduced monthly index options in 2001, followed by weekly Bank Nifty options in 2016 and weekly Nifty options in 2019. In subsequent years, the exchange added weekly options for the Nifty Financial Services Index (Finnifty) and the Nifty Midcap Select Index, catering to different segments of the market.
Index options accounted for a significant 98% of the notional derivatives turnover, totalling ₹35,790 trillion, in the fiscal year through September 15.
In terms of market share, retail investors constituted 27% of equity derivatives trading in the April to August period of 2023-24, trailing behind proprietary traders at 58.6%. Foreign portfolio investors accounted for 5.9%, corporates 3.6%, and others 4.7%, reported Mint.
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